“Sen. Tom Coburn said Tuesday that he was ‘livid’ about a New York Times report that described how tech giant Apple has legally evaded billions of dollars in corporate taxes each year,” Darius Dixon reports for Politico. “‘Absolutely, I’m livid about that,’ the Oklahoma Republican said of his frustration with Apple on MSNBC’s ‘Morning Joe.'”
“‘First of all, we have a tax code. Why should Apple pay at 10 percent and some other company that can’t export their technology… why are they paying 35 percent?’ he said. ‘What’s happening to us right now on our system is everybody that’s really successful worldwide is keeping their capital out of here and that capital is being invested somewhere other than America,'” Dixon reports.
MacDailyNews Take: No shit we have a tax code, Sherlock. And, no shit it’s FUBAR. And, no shit you shouldn’t be trying to tax profits that Apple made and upon which Apple was likely already taxed offshore. And, guess what, dumbass, er… Senator, Apple didn’t pay 10% in taxes, the shitastic New York Times regurgitated a press release from an at least equally idiotic “think tank” that either screwed up or massaged the data in order to make Apple look bad (see related articles below). Apple Inc.’s effective tax rates were approximately 24.2%, 24.4% and 31.8% for 2011, 2010 and 2009, respectively.
We’re rapidly getting to the point where we’d applaud Apple if they’d simply move the company out of the USA. Why the ultimate American Success Story should stick around to have the mentally deficient of America shit all over them is beyond us.
Dear dumbass, er… Senator (we keep doing that for some reason): Do your research. Apple reports to the SEC, not to mention the IRS, with much regularity. The New York Times reported bad data. This is certainly not a unique occurrence. This you must know. If not, how the hell did you get elected? Using the New York Times as your basis for so-called lividity makes you sound like a moron, even if your general point – the need for tax reform – is sound.
Dixon reports, “Coburn also said that he will work with Sen. Carl Levin (D-Mich.), a senior member of the Small Business and Entrepreneurship Committee, to study tax havens.”
MacDailyNews Take: Oh joy, a government study. The magnificent results of which would amount to absolutely nothing if you ignored the wasted time, the wasted energy, and – ahem – the wasted tax dollars.
Dixon reports, “On Sunday, The New York Times reported that Apple had evaded billions of dollars in corporate taxes by setting up subsidiaries in low-tax or tax-free states and countries around the world.”
MacDailyNews Take: “Evaded?” Mr. Dixon, you lie.
As we stated rather plainly in response to the New York Times hit piece on Saturday: “Every major corporation tries to minimize its taxes, of course. Maximizing profit is every publicly-traded company’s fiduciary duty to their shareholders. Tax avoidance is not tax evasion. What Apple is doing is perfectly legal. If you don’t like the current tax laws, elect people who agree with you and change the laws.”
Read more in the full article here.
MacDailyNews Take: Sigh.
Related articles:
Rush Limbaugh: New York Times targeting Apple; latest hit piece based on erroneous tax data – April 30, 2012
Does Apple know how to use its money better than the U.S. federal government? – April 30, 2012
Apple a bigger global power and more important than most nations – April 30, 2012
The New York Times blows it again: Incorrectly reports Apple’s tax rate – April 30, 2012
Apple to The New York Times: We are among the top payers of U.S. income tax – April 29, 2012
The New York Times: How Apple sidesteps billions in global taxes – April 28, 2012
The New York Times blows it, gets Apple CEO Tim Cook’s earnings spectacularly wrong – April 9, 2012
What MDN said.
wow- listen to some moron Republican talking about a company not paying enough taxes while they let there rich friends rob the bank!
Haha… Love what MDN said!
I agree. They are spot on with this one. It’s one idiot hopping on another’s back to start what amounts to a cheap shitty circus of idiots.
More importantly, I suppose NYT lied intentionally. It runs manipulative black PR campaign against Apple for some time already.
Apple should ban NYT from all of its events and maybe even throw out them from the news stand, bookstore, appstore. Though such move could be scandalous, so not sure about it.
The recent slop from the NYT reminds me of a newspaper masthead slogan on an area newspaper I saw once: “Liked by some, cursed by others, read by them all.” The times (SIC) is just looking for cheap hits.
They can totally ban NYT from its events, at least. Didn’t they do this to Cnet some time ago? (I’m not sure, so could someone check me on this)
There you go. Send the take to him MDN. Email link is at the bottom of the page.
http://www.coburn.senate.gov/public/
Until we get brave men and women into government – men and women who are more concerned about saving the country than saving their own asses – the decline of the USA will continue.
Getting reelected shouldn’t take precedence over doing what’s right for the country. That is why TERM LIMITS for U.S. Senators and House members need to be imposed.
So few real men and women in government. So few Paul Ryans.
So why don’t you run, Mr. All Negative talk and no Action?
You’re always the smartest one in the room, and only make comments on Political post.
I wouldn’t take the pay cut. It’s a thankless job. Look at Ryan. He tries to actually do something and they immediately go after him like he’s satan. No wonder the rest of the sheep stay baa’ing in the pen up on The Hill. So, no way, no thanks.
If they enacted term limits, which might seriously dent the lobbying and hopefully disperse much of the political opinion (demonization) media, then it might be more palatable for successful people with some intellect to run and serve. As it is now, we get the likes of Maxine Waters.
Can’t wait to ride your sorry ass into thd sunset after 2012 becomes your epitaph
Yeah, because 2010 went so badly for the GOP.
Record gains.
🙂
Politics are cyclical. The Dems had a large majority in the Congress When Bush 41 and Bush 43 were president. Majorities come and go. Smart “conservatives” know this, a group to which you obviously do not belong.
Even a liberal like me longs for the day when conservatives with brains were a part of the US government, so there can be a somewhat serious dialog. The current crop of tea baggers in the majority in the HOR now can’t be taken seriously to solve a simple math problem, let alone the problems of the nation.
A liberals like you??? How can you admit that. You are admitting you are a communist on an all out mission to destroy the US and all that is good. Go to Hell GEE-Idiot!
GeeOne,
Historic gains. More than merely cyclical. Obama/Pelosi/Reid = the best thing for the GOP since Jimmy Carter.
The 2010 United States elections were held on Tuesday, November 2, 2010. Approximately 82.5 million people voted.
The Democratic Party suffered major defeats in many national and state level elections, with many seats switching to Republican Party control. The Republican Party gained 63 seats in the U.S. House of Representatives, recapturing the majority, and making it the largest seat change since 1948 and the largest for any midterm election since the 1938 midterm elections.
The Republicans gained six seats in the U.S. Senate, expanding its minority, and also gained 680 seats in state legislative races, to break the previous majority record. Republicans now control the entire legislature in 25 states, 11 more than they had going in to the 2010 elections, compared to just 15 still controlled by Democrats. After the election, Republicans took control of 29 of the 50 State Governorships.
Thanks to the ineptitude of Obama/Pelosi/Reid, the GOP is set up for a long run (until a new batch of naive Libs indoctrinated by shoddy, unionized, liberal U.S. public schools and slanted, biased mainstream media reach voting age and before they mature, gain wisdom and turn into Republicans).
Enjoy the coming long GOP run. I certainly will.
Don’t count on your tea bags, your day are numbered asshole.
I guess since the subject is a Republican you toned down your rhetoric and actually sound rational. Did hell freeze over?
No Citizen Zero, We conservatives are rational. There are idiots in both parties, however, they are all idiots in the democrat party!!!!!
Blah, blah, blah. All republicans and conservatives are child molesters.
By the way, since you can make broad statements that have no basis in reality, I thought I would also.
Don’t label yourself or others. Broad strokes make for a narrow mind. Freedom affords us the ability to NOT align with any team to the point of zealotry – let alone making your avatar the team icon.
… that the “dumbass” (MDN’s word) involved is a Republican?
And that his co-worker is (smile) a Democrat.
And on the SMALL Business Committee? What does that have to do with Apple? One of the largest companies in the world?
Thank the lobbyists. Do anything for a buck.
Everyone is an idiot in the DemoTard party.
There are a few in the Republican party too. Some are DemoTard plants!
Whether I agree with your politics or support of Paul Ryan, I do agree that term limits can do more to diffuse power mongering on both sides of the, er, cameral, and increase interest in civic duty by those better qualified but who don’t want to play the current game.
Term Limits +1
Coburn is one of yours.
Paul Ryan – the Republican John Edwards.
Paul Ryan is the only shining light of hope in this fubar government. He’s all for privacy, a strong dollar, no wars, and liberty. The others say the same, but ruin everything.
ya mean it’s okay to cuss on this forum?
Unfortunately, this is the future of our country. Demonize the people and companies like Apple that are successful. Take more tax money to fund a government that overspends no matter how much revenue they take in.
Eventually, the successful ones will leave or quit. We are living in the world of Atlas Shrugged and we don’t even know it.
We conservatives know it!
And while we’re at it, let’s prosecute Nevada for not collecting taxes. Or should we prosecute companies for using Nevada as a haven? That would please the Nevada senator immensely…
While his ilk lets WS manipulate commodity prices with their 5 percent margin requirements.
Trillions are bein lost in economic potential. 20 million barrels a day, oil price overpriced by at least $70 a barrel is equivalent to 1.4 billion a day in lost disposable income. That is $513 billion a year. If you believe in the multiplier effect, that is $2.5 trillion a year in lost economic potential.
When ever you are useless and no body care about you, just mention “Apple” and everyone will pay attention, this pretty much tells the story:
oh I’m SURE the senator as well as NYT staff all recently told their accountants at tax time:
“Accountant! Don’t get me any deductions, or try to lower my taxes in anyway! I want to make sure I PAY THE MAXIMUM TAX to help out the government! “.
right.
(and as MDN noted the NYT article is filled with errors pointed out by numerous tax experts and Forbes etc.
I’m sick to death of the ignorance and Apple- bashing. And Paul Ryan IS Satan.
Paul Ryan is not Satan, your dear leader, Maobama is. And you are one of his minions!!!!!
Bravo MDN !!!
1
The US Govt spending amount for the last budget was 3.796 Trillion dollars – to put that into perspective, if the US Government took ALL of Apple’s money in the bank (let’s set it at 100 Billion dollars), it would burn through all of it in 9.615 DAYS. If they confiscated all of the personal fortunes and left the former owners penniless, it would last the government a couple of months tops.
As someone once said, “in taxation there is no philosophical difference between the first penny of tax and your last dime”
You do know that many parts of the Federal Budget spans multiple years, don’t you?
You do know you are a Lemming!!!!
I may be a lemming but Patrick Henry had fairly Socialist leanings so what does that make you?
Get rid of these idiots in the Congress & Senate – That is, ALL of the incumbents. Let’s get the power back to the States.
But not California – it’s too late for California. The dems have it totally under water.
I think all politics suck on this site. Except when the government is utilizing Apple stuff.
Political trolls should comment on other sites dedicated to the uselessness of political affiliation.
My 2¢
MDN, should avoid posting this type of news if it is meaningless.
Sigh.
You are meaningless you lemming!
He is obviously a clueless RINO!
This country was founded by people trying to limit what they had to pay in taxes!
Apple is a patriot man!
Taxes in all forms are evil. It saps the human spirit of free enterprise and turns them into automatons. Taxes are used to pay a bloated government bureaucracy and is wasted on pork barrel projects. The government bloated carcass feeds off taxes like a methamphetamine addict.
I hold Meth addicts in higher regard than most politicians!
I am offended by your comparison! 😉
Taxes are evil. Government is evil. The only role of the gov’t should be to educate students enough to sign their names on iPad orders, and to build roads so the buyers can get to the Apple store, and to vigorously enforce the intellectual property laws against all evil-doers who try to copy Apple, and to pay the police who arrest those evildoers, and the prison guards who keep them locked up, and to invent the internet so that Apple can take it over, and other than that it shouldn’t exist at all, and only PC users should have to pay the taxes to finance those minimal government functions.
Now do I qualify for a job at macdailynews, or does my Apple-veneration still fall short?
You had the very first part right you lemming.
Really MDN “Dumbass”? In cultured circles it’s Dumas, only maroons use Dumbass.
‘Really MDN “Dumbass”? In cultured circles it’s Dumas, only maroons use Dumbass.’
Alexander Dumas? Unmasked!
So, does everyone get it? This isn’t about Democrats or Republicans. It is about electing dumbasses who read anything uncritically and try to make points by “jumping on the bandwagon.” Aren’t our leaders supposed to be smart enough to discern this type of stupid reporting? It’s screwed up enough that the Times is so ignorant, but worse yet that we have elected officials of any party that would rather buy into something so stupid or worse, try to manipulate their constituents by appearing “to stick up for the little guy.” PUKE!!!
You do know that there are many democrat operatives that run on the Republican ticket, get elected, and then proceed to act like the Demo-Tards that they really are. I suspect that’s what happened here!
Did I not read recently that GE paid NO TAXES in 2010? In fact got a $3.2 billion refund!!!
So where is the indignation for THAT!!!
They’re Maobama butt kissers so they get a “WAIVER” on anything they do.
If it is legal to do what GE did than no one should be having a hissy fit over it.
Most of taxes are evil. Most of governments are evil. Trim them both way back. And then massively simplify the tax codes. There is no freaking reason on earth that they should be as complicated as they are. It is done on purpose to entrap people!
Woah there!! Someone needs to switch to decaf.
Taxes aren’t bad. What’s bad is that politicians (of all colours) have spent decade after decade adding more exemptions, benefits, clauses, penalties etc. etc. etc. to the code and made it utterly unworkable. This results in the state requiring an expensive bureaucracy to administer the system and leads to outrage when people or organisations learn to play loopholes in the spaghetti mess to their own advantage.
Simplify the code and this problem goes away. For a start, why can’t the US government ratify the necessary treaties that mean if tax is paid on income earned in a territory to that territory’s own government then no tax is owing when the rest of the money is returned home? Every other major economy on the planet does this already.
Mind you, none of the major economies have their own tax system perfected. It’s just that the USA seems to be well overdue for a tax overhaul.
Tax code is in ruins.
As I’ve written in the past, this all happened under the Clinton administration. The years when the “budget balanced” was directly the result of many many corporations selling their Intellectual Property to off shore low tax countries. This transaction was a one time windfall for the government (balanced budget). And each and every year since, American companies deduct big royalty payments in their US operations and send the cash overseas into low tax jurisdictions. This is another reason why the deficit has accelerated in the years since. Best news for companies, this only effects taxes, because the royalty payments are an inter-company transaction (income in Foreign tax jurisdiction and expense in USA). So on a consolidated reporting basis, only the lower tax effect is reflected in the financial statements.
But it wasn’t just Apple and Microsoft, it was GE, Boeing, Honeywell, etc. Most major American corporations employed this maneuver.
VERY EASILY FIXED, make royalties a non-deductible expense for tax purposes!!!!
So go ahead Mr. Senator, get off your fat dumb ass and fix it today!!!!!!!
Washington is in ruins. The age of lawlessness is upon us.
It’s time to clean up the idiots in Washington, and get back to our roots.