As if that wasn’t bad enough, now Apple is lobbying Congress [Win America Campaign] to pay next-to-no taxes when they bring back to the US their over $12 billion in offshore profits. And they’re leading a national lobbying group of global corporations that want the same special treatment for their more than $1.2 trillion in offshore profits.
If Congress passes this “tax holiday,” Apple will avoid over $4 billion in taxes. And global tax dodgers could avoid over $80 billion. Not only is this more than enough to solve every state budget crisis in the country, it’s also unfair to individual taxpayers and domestic businesses that have to pick up the slack for tax deadbeats like Apple
editor: added Win America link
What I love about the Win America site, as a student of rhetoric, is the line, “Currently, there is over $1 trillion earned by American businesses trapped overseas.” Trapped? By whom? Companies that cannot stand to pay any reasonable taxes on the money? A completely bogus statement, a lie. This money is not trapped: companies have decided not to pay their fair share of taxes unless they get to decide the tax rate. These companies benefit from taxpayer-funded infrastructure, indeed, would have no business without that infrastructure. Who else is going to pay for that key part of their business? Plus paying fair taxes ensures all companies can continue to create jobs and wealth. None of these companies would be allowed to stiff their investors yet they’re happy, even eager, to stiff taxpayers who funded (invested) in what makes their business and wealth possible.
Ignoring corporate tax cheats also is part of the “don’t tax rich people (or we can’t tax rich people)” meme. In this case, the amount of tax owed to taxpayers (for court houses, police, and infrastructure needed to enforce their contracts that make their business valid) would solve the state budget crises that is destroying desperately needed living wage jobs. Remember, only poor people dodge taxes. Not wealthy corporations. Certainly not the rich.
Apple has a great reputation for design and being customer friendly. It’s a shame their corporate practices on taxation and labor are so horrid. Really they should have zero business.