@
gruber like JFK must be rolling over on his grave when Cook said they follow the spirit of his law designed to stop offshore income shifts@
gruber I was more thinking of your recent criticism of Larry Page for hypocrisy and what Cook said todayTumblr's first 10 employees each get $6.2 million. First 30: $3.3 million. Rest: $371,000
http://t.co/wYXalXXHuV Off to cry in bathroom now.
Retweeted by Aaron PressmanUS companies owe US taxes on foreign profits after deducting foreign taxes paid, generally speaking @
vipersine @
Medium @
brianlevinApple Inc, Irish unit 'charge' sales units differing amounts for products in different parts of world @
vipersine @
Medium @
brianlevinSee page 7
http://t.co/ekL1yxdP01 @
AntDeRosa @
felixsalmon @
BenDWalsh @
hblodgetAmount that *is* repatriated at current 35% rate? @
felixsalmon@
RiskManage41 Are you too worried that the dollar is about to be eliminated in favor of a North American central currency called the amero?@
RiskManage41 I think that's Gawker's tongue in cheek headline on an article about Rand Paul fearing creation of the 'amero' currencyExecutive communication coach praises Apple's Tim Cook for coolness under fire on tax issues
http://t.co/9YvPUXM03dThat Rand Paul - Rand Paul is Even Crazier Than his Racist and Pro-BP Gaffes Suggest
http://t.co/AKkujEe0IxIt's not the rates - US corporations pay slightly more on average than those in other industrial countries
http://t.co/aafQUkLdnaIt's a neutral term in tax and accounting as opposed to 'tax evasion' which is illegal. Read the report
http://t.co/8qf6ZiVvVF @
FAViscegliaI can tell where the bias is, not to worry @
FAVisceglia @
gruberIt's a dead on accurate phrase. read the report @
FAVisceglia @
gruber“the government can’t run on empty, and if companies like Apple don’t pay their fair share, the rest of us pay more.”
http://t.co/FAxskfeIWTNo, almost no taxes (0.05%) paid on that $74 billion as it went to stateless subsidiary based in Ireland @
vipersine @
Medium @
brianlevinShare of taxes paid in 1950 by individuals: 60%. By corporations: 40%. In 2012: Indiv: 82%. Corp: 18%.
http://t.co/EU1EE5fIPb
Retweeted by Aaron Pressman@
mlkahnke A practice which exploded after 2004 repatriation tax holiday which brought none of benefits proponents promisedIt's in the spirit of something but surely not laws to stop it RT @
ritholtz: Apple’s International Tax Structure
http://t.co/WBVCyB1UeZ $$Does it move them closer to 3rd party manufacturing? Intel CEO shakes up units, creates 'new devices' group @
Reuters http://t.co/QcPHUcw0k7Isn't the way to enact reform first to hold hearings on the problem, esp. a super complex problem like offshore tax avoidance @
JohnJHarwoodMicrosoft and HP testified in September but Apple invented some of the most complex techniques for tax avoidance @
FAVisceglia @
gruberIts not just Apple: 30 major Corporations paid NO income taxes in the last 3 yrs - while making $160 B. Fix the law
http://t.co/JTqCxZeqWX
Retweeted by Aaron PressmanApple to Congress: You're holding the tax code wrong.
Retweeted by Aaron PressmanLike many US corps, Apple reports an accounting tax rate on SEC filings much higher than it really pays. 24% is more like 12%, Senate foundFollowing the #
Apple corporate tax issue? Here's a great primer on "the international tax mess" from @
TaxPolicyCenter http://t.co/jZio7Ctbom
Retweeted by Aaron Pressman@
mlkahnke Or that some don't understand the history of the specific tax provisions in question that allowed Apple tax avoidanceApple has steered 64% of global profits to Ireland where it has stateless subsidiaries that don't pay tax @
mistercameron@
gruber (actually I think Harvey worked in Reagan Treas Dept on tax reform, then big 4 accounting firm, then IRS@
gruber 3. Richard Harvey, former IRS under Reagan, said he nearly fell out of his chair when he read Cook would deny using tax gimmicksHP and MSFT testified in Sept RT @
USABusinessNews: Bloomberg: Apple Is Being Singled Out in Tax Circus: Gene Munster
http://t.co/uhFWvAlCxVI doubt many, or even any, Congress folk have R&D transfer agreements with stateless subsidiaries that pay no taxes @
StilsonGreene@
gruber 2. Saying Apple follows 'spirit' of tax law when they use loophole in section designed to stop exactly what the do@
gruber 1. denial of specific tax gimmicks on page 2 while engaging in others - like Bonnie and Clyde saying they never robbed a 7-ElevenApple's Cook says follows 'spirit' of US tax law. Companies taxed on worldwide profits, subchapter F aims to *stop* passive income shiftingIreland's tax avoidance sophistry with Apple is most read on FT website: here is a Q&A on Dublin's complex tax deals
http://t.co/qrdAfd5bJk
Retweeted by Aaron PressmanOn whether to 'blame' Apple or not, we hold them to a higher standard than what law allows on environmental issues, worker conditions etcSenate panel peels back Apple's offshore taxes WASHINGTON (Reuters) - Apple Inc's chief exec via @
josephjett #
news http://t.co/UiaptUcPFI
Retweeted by Aaron Pressman+1 RT @
skret16: My mostly uninformed opinion on apple tax situation: A) it is a pretty big deal B) they are not nearly the only offendersSorry, Tim Cook: U.S. Tax Law Isn’t a Big Economic Drag by @
MichaelSantoli http://t.co/WhYNxTpFdiEasy to say Congress wrote this horrid tax code so blame them. But don't blame those trying to fix it now backed by case studies of the mess@
daringfireball Apple uses loopholes in part of tax code intended to curb offshoring of income to offshore income, follows 'spirit' of law?Less bruising than 2012 RT @
katyawachtel: Dimon keeps JPMorgan chairman title after bruising battle
http://t.co/eELqB89RasDisappointed w/take of @
daringfireball: NYT Live Coverage of Senate Hearing on Apple and Corporate Taxes:
http://t.co/SuNhxeMpteApple's a US company RT @
mistercameron: The Senate can't seem to grasp the notion that they aren't entitled to income on foreign companiesAnd, off goes Tim Cook and company after a couple of hours of fire and praise from various senatorsAgree but when oil companies come to Congress, will people complain about Apple? Close all the loopholes @
flenserApple invented these incredible tax games, are one of the biggest exploiters. Can't close without understanding @
calebhays @
fidessvperomniaApple's Oppenheimer, under fire on why Apple transferred rights to Irish no-tax unit, left with "people around the world love the iPhone."The hearing is about how to fix the tax code - can't fix it until you understand how it's broken and why @
calebhays @
fidessvperomniaApple rapacious tax avoidance. But not alone. US Inc.' share of federal tax fell from 32.1% to 8.9% over 60 years
http://t.co/yMkruU2jrZ
Retweeted by Aaron Pressman@
dinomite did you read the senate report? they used r&d transfer agreements to move money from the USDoh. And my source lunch has arrived. More tweets later...@
danwilchins worth a tweetWhere is AOI a tax resident? "It does not have a tax residency...the interest that it earns, US taxes are paid in full." - Apple execApple execs finally face a tough question. In Feb 11 letter, they avoided saying where they ran Irish unit from. Today, admitted it was USLESS than last year, no? RT @
danwilchins: JPMorgan: Only 32.2 pct of shareholders voted in favor of chairman/CEO split.What's needed is a global corporate tax deal, says Breakingviews' @
edwardhadas -
http://t.co/VjG64i79zy
Retweeted by Aaron PressmanApple's tax dodging techniques are indeed spectacular
http://t.co/KwOfdnTOTO
Retweeted by Aaron PressmanWith Apple, @
google, @
Starbucks etc, getting done for tax, is it time to make tax for global co.s. simpler? Fix the problem not the sympton?
Retweeted by Aaron PressmanApple doesn't stash cash on a Caribbean island. It doesn't have to. Stateless units that pay no taxes can invest in the United StatesExactly, there are other shareholder interests besides immediate profit maximization. @
Scott_BrightmanThe way you get change is by highlighting what's broken. Otherwise you would never change the laws @
tenormanmike"The tax code has not kept up with the digital age," Apple CEO Tim Cook says. True datAgain, Tim Cook make very specific denials, which is like Bonnie and Clyde saying, hey, we never robbed a 7-Eleven or a SafewayApple CEO Tim Cook "We pay all the taxes we owe, every single dollar. We not only comply with the law, we comply with the spirit"Tax code Subpart F, where Apple found key loopholes, was adopted in 1962 to end offshoring tax avoidance at JFK's behestApple CEO Tim Cook "An emphatic yes - we are proud to be an American company."Apple CEO Tim Cook and a few other Apple execs taking their seats now in front of Senate panel #
FeelTheHeatActually not even allocated profits to Ireland. Units incorporated there are actually stateless @
graubartThere's no doubt our corporate tax system has not kept pace with globalization. But Apple allocating 64% of income to Ireland just wrong
Retweeted by Aaron PressmanAlso Apple voluntarily has moved to improve worker conditions, be more environmentally friendly, both at cost to profits @
Scott_BrightmanAs just noted, US tax system is broken, here's an huge example, needs fixing @
Scott_BrightmanObfuscation. Experts said they could have been even more aggressive. Apple also costs itself on worker rights, environment @
tenormanmikeApple shares owned by the public, Sen Rand Paul points out. "Who are we punishing? We're punishing ourselves."Sen Rand Paul's answer? Slash corporate tax rates, give corps cash repatriation holiday at 5%. Revenue neutral fix is an "absurdity"It's a hearing to fix broken laws. hello RT @
bdsams: @
jdalrymple Congress...if they are that dumb and create loophopes, can't blame appleCook not on yet RT @
moorehn: Oh no, Jamie Dimon and Tim Cook speaking at the same time, where do I look, HELP ME SUPERMAN...Apple claims it paid $1 out of every $40 of all US corporate income taxes last year, or 2.5% @
ReformedBrokerCheck your math, not even Apple claims RT @
LJKawa: #
iTax RT @
ReformedBroker ...Apple paid $1 of every $6 in corporate tax revenue last year.#
Capitalism RT @
HereGoJayAgain So Apple doesnt pay intellectual prop tax on the SAME patents they were in court fighting Samsung over? What?
Retweeted by Aaron PressmanWatching Senate hearing on @
cspan. #
Apple tax evasion leads to talks on direction of tax reform.
Retweeted by Aaron Pressman