CEO Cook To Defend Apple Before Senate Committee Hearing

May 21, 2013 Full story: National Public Radio 42

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations.

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Sterkfontein Swartkrans

Pennington, NJ

#1 May 21, 2013
If they are cheating seize their assets in the US!
bottlecap

Orlando, FL

#2 May 21, 2013
From the article:

"While Apple's estimated tax payment for 2012 is $6 billion, the Senate investigators estimate that Apple avoided paying another $9 billion in taxes last year."

"The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits."
----------
The fault seems to be in the tax laws. Sadly, most laws are written by lobbyists and signed off on by Congressmen and Congresswomen, in many cases, not even reading the bill.
Lamer

Piqua, OH

#3 May 21, 2013
And Apple is only 1 of many companies to do this.
Gravediggers

West Palm Beach, FL

#4 May 21, 2013
IRS targeting, YOU ARE NEXT = Obama

Fast and Furious = Obama

4 dead Americans in Benghazi = Obama

AP/Google Emails/shutting down reporters = Obama

Jay Carney/it's Fox News fault = Obama
http://www.fireandreamitchell.com/2013/05/14/...

Obama's own press secretary shows his hate toward Fox News/conservative news

The thug mentality is still alive and well and as is evidence by the President, himself.

The Obama mantra:

" we’re gonna PUNISH OUR ENEMIES and we’re gonna REWARD OUR FRIENDS who stand with us on issues that are important to us "
Lamer

Hopkins, MN

#5 May 21, 2013
so what you are saying is you do not have anything intelligent to say so you are going to copy/paste the same thing over and over to try to push your point and cover your ignorance?

Guess what...it isnt working...
bottlecap

Orlando, FL

#6 May 21, 2013
Lamer wrote:
And Apple is only 1 of many companies to do this.
Yes, one of many!

One egregious case was found out by Sen. Bernie Sanders:

http://www.sanders.senate.gov/imo/media/doc/1...

. General Electric CEO Jeffrey Immelt

Amount of federal income taxes paid in 2010? Zero.

"In 2010, not only did General Electric pay NO federal income taxes, it received a $3.3 billion tax refund from the IRS, even though it earned over $5 billion in U.S. profits."

"Number of offshore tax havens? At least 14.
GE has at least 14 tax haven subsidiaries in Bermuda, Singapore, and Luxembourg for the purpose of avoiding U.S. income taxes.
----------
This math DOES NOT work for the average citizen so don't any taxpayers out there try this.

5 BILLION in PROFITS in United States

ZERO Federal Income Tax Paid that Same Year

And yet, a WHOPPING

3.3 BILLION Tax Refund

I don't know if I should cry or laugh; it seems so hopeless.

Since: Dec 07

Flint, TX

#7 May 21, 2013
bottlecap wrote:
<quoted text>
Yes, one of many!
One egregious case was found out by Sen. Bernie Sanders:
http://www.sanders.senate.gov/imo/media/doc/1...
. General Electric CEO Jeffrey Immelt
Amount of federal income taxes paid in 2010? Zero.
"In 2010, not only did General Electric pay NO federal income taxes, it received a $3.3 billion tax refund from the IRS, even though it earned over $5 billion in U.S. profits."
"Number of offshore tax havens? At least 14.
GE has at least 14 tax haven subsidiaries in Bermuda, Singapore, and Luxembourg for the purpose of avoiding U.S. income taxes.
----------
This math DOES NOT work for the average citizen so don't any taxpayers out there try this.
5 BILLION in PROFITS in United States
ZERO Federal Income Tax Paid that Same Year
And yet, a WHOPPING
3.3 BILLION Tax Refund
I don't know if I should cry or laugh; it seems so hopeless.
Apple, GE, big democrat donars....

But...but....uh, Romney....(sarcasm)
Lamer

Hopkins, MN

#8 May 21, 2013
Bluebonnets-Thistle wrote:
<quoted text>
Apple, GE, big democrat donars....
But...but....uh, Romney....(sarcasm)
So are you really going to say none of Rommneys big $$ donars are not legal tax cheats as well?

Since: Nov 08

Location hidden

#9 May 21, 2013
Sterkfontein Swartkrans wrote:
If they are cheating seize their assets in the US!
You might want to contact Obama's jobs Czar and find out why they paid ZERO in taxes. Apple paid billions. GE has paid no taxes for two years.

Since: Nov 08

Location hidden

#10 May 21, 2013
Lamer wrote:
<quoted text>
So are you really going to say none of Rommneys big $$ donars are not legal tax cheats as well?
Can you prove your blathering lies?

Since: Nov 08

Location hidden

#11 May 21, 2013
Lamer wrote:
so what you are saying is you do not have anything intelligent to say so you are going to copy/paste the same thing over and over to try to push your point and cover your ignorance?
Guess what...it isnt working...
Senate panel OKs tax-welfare benefits for new immigrants...that haven't paid a dime in..........oh yeah, that will work.
Lamer

Hopkins, MN

#12 May 21, 2013
Le Jimbo wrote:
<quoted text>Can you prove your blathering lies?
Sorry Jimbo but you are about the last person on topix whom gets to as for proof with the amount of BS you spew here.

Rommney's top donors are a lot of banks, including many of those whom needed a bailout and gov subsidies:

Goldman Sachs $1,033,204
Bank of America $1,013,402
Morgan Stanley $911,305
JPMorgan Chase & Co $834,096
Wells Fargo $677,076
Credit Suisse Group $643,120
Deloitte LLP $614,874
Kirkland & Ellis $520,541
Citigroup Inc $511,199
PricewaterhouseCoopers $459,400
UBS AG $453,540
Barclays $446,000
Ernst & Young $390,992
HIG Capital $382,904
Blackstone Group $366,525
General Electric $332,875
EMC Corp $320,679
Bain Capital $285,970
Elliott Management $281,675
Rothman Institute $259,500

Credit Sussie, Pricewater house, and Deloitte are all big tax cheats as well. A simple google search can clear that up for you.

You see, Rommney himself is a tax cheat, but wouldnt you know, right there are the same GE you were just ragging on Obama about. Jimbo, when you spew such random BS it is very easy to tell you dont really have a clue.
minority of one

Carol Stream, IL

#13 May 21, 2013
Lamer wrote:
<quoted text>
So are you really going to say none of Rommneys big $$ donars are not legal tax cheats as well?
You hit the nail on the head. The key words are legal tax cheats. I have posted many times that tax rate increases alone will not lower the deficits. The tax code needs to be simplified so that at the higher incomes more income is taxable. What good does it do if you increase the tax rate from 30-35% to 38-45% if the upper income taxpayers can shield 50-75% or more of their income from taxes. I was called a teabagger for that.

Since: Nov 08

Location hidden

#14 May 21, 2013
Lamer wrote:
<quoted text>
Sorry Jimbo but you are about the last person on topix whom gets to as for proof with the amount of BS you spew here.
Rommney's top donors are a lot of banks, including many of those whom needed a bailout and gov subsidies:
Goldman Sachs $1,033,204
Bank of America $1,013,402
Morgan Stanley $911,305
JPMorgan Chase & Co $834,096
Wells Fargo $677,076
Credit Suisse Group $643,120
Deloitte LLP $614,874
Kirkland & Ellis $520,541
Citigroup Inc $511,199
PricewaterhouseCoopers $459,400
UBS AG $453,540
Barclays $446,000
Ernst & Young $390,992
HIG Capital $382,904
Blackstone Group $366,525
General Electric $332,875
EMC Corp $320,679
Bain Capital $285,970
Elliott Management $281,675
Rothman Institute $259,500
Credit Sussie, Pricewater house, and Deloitte are all big tax cheats as well. A simple google search can clear that up for you.
You see, Rommney himself is a tax cheat, but wouldnt you know, right there are the same GE you were just ragging on Obama about. Jimbo, when you spew such random BS it is very easy to tell you dont really have a clue.
If you can't prove they have broken the law and show charges for tax evasion, I suggest you quit while you only look foolish.

Since: Nov 08

Location hidden

#15 May 21, 2013
minority of one wrote:
<quoted text>You hit the nail on the head. The key words are legal tax cheats. I have posted many times that tax rate increases alone will not lower the deficits. The tax code needs to be simplified so that at the higher incomes more income is taxable. What good does it do if you increase the tax rate from 30-35% to 38-45% if the upper income taxpayers can shield 50-75% or more of their income from taxes. I was called a teabagger for that.
Wonder why Obama didn't do that when he controlled both houses. Oh Yeah, he wants more taxes.
minority of one

Carol Stream, IL

#16 May 21, 2013
Le Jimbo wrote:
<quoted text>Wonder why Obama didn't do that when he controlled both houses. Oh Yeah, he wants more taxes.
No he wants(like many politicians) to continue to get the big donors' money and he knows the poor have no more to give. So he goes after the upper middle class and says they are wealthy.
Lamer

Hopkins, MN

#17 May 21, 2013
Le Jimbo wrote:
<quoted text>If you can't prove they have broken the law and show charges for tax evasion, I suggest you quit while you only look foolish.
Your reading comprehension is failing you again. I never once said they broke the law. I even went as far to say legal tax cheats if you notice. I was simply responding to you calling me a liar. I showed not only has GE paid no taxes along with being a donor to Obama, GE also paid no taxes and a top donor to Rommney. I also pointed to 3 other top donors who have also paid no taxes.

I could also point out that the top banks on Rommney's donor list arent actually profitable and simply need cooperate welfare to stay afloat to the amount of 83 billion a year which is aprox the same amount of their combine annual profits. Take the subsidies away and no profits.

Point being that both Rommney and Obama are backed by legal tax cheats that neither of the plan to confront as they both make huge $$. You can play the blaim game and try to pin in on Obama but you only look foolish as your side does it just as much.
Lamer

Hopkins, MN

#18 May 21, 2013
Le Jimbo wrote:
<quoted text>Wonder why Obama didn't do that when he controlled both houses. Oh Yeah, he wants more taxes.
Same reason why no republican is going to do anything about it. It should be blantantly obvious but some people (jimbo) need that extra "special" attention to understand it...

Since: Nov 08

Location hidden

#19 May 21, 2013
Lamer wrote:
<quoted text>
Your reading comprehension is failing you again. I never once said they broke the law. I even went as far to say legal tax cheats if you notice. I was simply responding to you calling me a liar. I showed not only has GE paid no taxes along with being a donor to Obama, GE also paid no taxes and a top donor to Rommney. I also pointed to 3 other top donors who have also paid no taxes.
I could also point out that the top banks on Rommney's donor list arent actually profitable and simply need cooperate welfare to stay afloat to the amount of 83 billion a year which is aprox the same amount of their combine annual profits. Take the subsidies away and no profits.
Point being that both Rommney and Obama are backed by legal tax cheats that neither of the plan to confront as they both make huge $$. You can play the blaim game and try to pin in on Obama but you only look foolish as your side does it just as much.
Legal tax cheats is an Oxymoron pookie. Every american is a legal tax cheat, even you and Obama.

Since: Nov 08

Location hidden

#20 May 21, 2013
Lamer wrote:
<quoted text>
Same reason why no republican is going to do anything about it. It should be blantantly obvious but some people (jimbo) need that extra "special" attention to understand it...
Besmerching someones reputation when they have done nothing wrong, except by your opinion is rather childish in itself. If they have not broken tax laws and codes, they have done nothing wrong. I warned you to give it up.

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