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Well, the original complaint I responded to was "they shouldn't be taxed twice on the same money", and I pointed out they're not being taxed twice on the same m
by ubernostrum 10y ago
Well, the original complaint I responded to was "they shouldn't be taxed twice on the same money", and I pointed out they're not being taxed twice on the same money.
Meanwhile, if Apple wants to bring this money into the US, well, they can do what the US tells them to do when it comes to taxes. Apple has benefited enormously from services and infrastructure paid for by everyone else's taxes, and shouldn't get to leech off that without having to play by the same rules (and I say this as someone who pays a higher percentage of my own income in tax than Apple would even if it repatriated all its profits).
- jjn2009 10y agoI did not find that part of your argument to be substantial to the core of my point, they followed whatever tax regulations they were subject to abroad and if there are loopholes then those countries can close them if they so desire. Overseas profits will end up paying for corporate infrastructure and jobs elsewhere, penalizing global activities by taxing profits which do not occur in the US is not a very forward thinking strategy for the US Government and it's why we will continue to get killed in trade with deficits until it obliterates our economy.
- ubernostrum 10y agoOverseas profits will end up paying for corporate infrastructure and jobs elsewhere If those profits are never taxed, they won't. Of course, to avoid them being taxed you have to leave them sitting in accounts in Bermuda and the Caymans where that money can't be productive for the company either. by taxing profits which do not occur in the US The US isn't asking to tax their overseas profits. If you can't make your argument without openly lying about what's going on, I don't know how you can expect to be taken seriously.