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I wish politicians who talk about this would factor in some accountability on their part. The fact is, the companies are doing it because the politicians wrote
by zmmmmm 13y ago
I wish politicians who talk about this would factor in some accountability on their part. The fact is, the companies are doing it because the politicians wrote the laws that allowed it. They should be saying "We allowed company X to avoid billions in tax through our moronic actions" not "Company X avoided billions in tax".
- rayiner 13y agoCan you describe precisely which provisions Apple took advantage of that you think are "moronic" in specific terms? There is a lot of crap in the tax code (accelerated depreciation schedules for farm equipment and whatnot), but that's not what is at play here.
- toyg 13y agoInternational "free trade" agreements are the problem here, clearly. The free flow of capital for investment purposes in actual companies must not be restricted, but stashing money in offshore accounts should not be considered acceptable. Of course, whoever is tasked with brokering and approving these agreements usually has a stake in that same game, either directly or indirectly (through revolving-door opportunities later on). Note that this is not an American problem, it's a global problem. At the moment you either do it like China (you can't move any money out of the country) or you do it like US/Europe (your government gets shortchanged). This is clearly suboptimal.