May 21, 201313 yr Very creative:Apple Avoided Billions in Taxes, Congressional Panel Says - Yahoo! Finance
May 21, 201313 yr If I'm wrong about this I'll correct myself. Wasn't Steve Jobs a big Democratic supporter and backed their efforts to raise taxes? If so then I'm more appalled by the hypocrisy of the leadership as opposed to taking legal measure to lessen their tax burden.
May 21, 201313 yr Author Another massive loophole. Illegals receive billions: Massive tax fraud due to a tax loophole - A friend's CPA sent this to them. You may have already seen it but it was news to me. It’s a real eye opener! No wonder the country is going broke!
May 21, 201313 yr Tax bills for 5 corporate giants - Wal-Mart Stores: $7.1 billion (1) - CNNMoney.com A lot of companies using loopholes to avoid taxes. Only Walmart paid US Federal Taxes out of the top 5 biggest US corporations. Bank of America -$2.8 Billion General Electric -$1.1 Billion (Total Tax refund, not broke down US vs International) Chevron -$19 Million Exxon -$156 Million (but did pay $15.2 Billion in International taxes) Walmart $5.3 Billion Paid
May 21, 201313 yr Another massive loophole. Illegals receive billions: Massive tax fraud due to a tax loophole - A friend's CPA sent this to them. You may have already seen it but it was news to me. It’s a real eye opener! No wonder the country is going broke! You need to start a new thread on this. Honestly, I usually don't pay too much attention to your rants/complaints - a "boy who cried wolf" thing for me. But you have a topic here that needs to be ranted on in its own thread.
May 21, 201313 yr Another massive loophole. Illegals receive billions: Massive tax fraud due to a tax loophole - A friend's CPA sent this to them. You may have already seen it but it was news to me. It’s a real eye opener! No wonder the country is going broke! Wow, that just makes me sick. It's bad enough they are claiming children who don't even live in the country, but they aren't even their kids, they are claiming nieces and nephews and of course it's bad enough they claim them but there is no way to even prove they are related in anyway to the person filing the child credits. Also, since when can you claim nieces and neohews in the first place? Shoot my aunts and uncles would be rich!!!! I have over 60 first cousins just on my moms side of the family. Maybe one of my uncles should claim 60 on his returns next year.
May 21, 201313 yr We as a country need to get out of the income tax business. A consumption tax is the best solution I've found. Having an income tax simply allows congress to try to reward some and punish others. It allows them to try to manipulate behavior. And by taxing one action or source of income, it forces individuals and companies to find ways to make money and avoid certain taxes. We could get rid of all that if we got rid of the income tax.
May 21, 201313 yr The American way, have your product built with cheap Chinese labor and materials, shipped back to the US to be sold in safe and secure markets for an outrageous price and then don't pay taxes on anything.
May 21, 201313 yr Author You need to start a new thread on this. Honestly, I usually don't pay too much attention to your rants/complaints - a "boy who cried wolf" thing for me. But you have a topic here that needs to be ranted on in its own thread. Then you really need to pay more attention to my "rants". Not the first time I've posted on this subject...
May 21, 201313 yr Then you really need to pay more attention to my "rants". Not the first time I've posted on this subject... :lol2: I probably will now that a real "wolf" showed up in one of them. :thumb: So, are you going to start a new thread to discuss the illegal immigrant loophole?
May 21, 201313 yr If I'm wrong about this I'll correct myself. Wasn't Steve Jobs a big Democratic supporter and backed their efforts to raise taxes? If so then I'm more appalled by the hypocrisy of the leadership as opposed to taking legal measure to lessen their tax burden. Every company that practices illegal/unethical tax avoidance should be taken to the woodshed. Whether said company supports political party A or political party B is irrelevant.
May 21, 201313 yr Good for Apple. Until they change the tax code/laws, I hope all corporations take note and do the same.
May 21, 201313 yr I recall the very first thing my tax law professor told us in 1977 was that it was the duty of every individual and entity to practice tax avoidance and that it was the accountant's responsibility to maximize the avoidance. Kind of hung me up until he explained that he meant legal methods of minimizing taxes vs tax evasion which was accomplished by not following tax laws. If Apple followed the regs I'm fine with them avoiding taxes. As stated above, it's the lawmaker's responsibility to close tax loopholes, and there are many in both corporate and individual tax laws that I would support being closed.
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