“On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won’t reflect its true profit, because the company hides some of it with an unusual tax maneuver,” Peter Svensson reports for The Associated Press. “Apple Inc., already the world’s most valuable company, understates its profits compared with other multinationals. It’s building up an overlooked asset in the form of billions of dollars, tucked away for tax bills it may never pay. Tax experts say the company could easily eliminate these phantom tax obligations. That would boost Apple’s profits for the past three years by as much $10.5 billion, according to calculations by The Associated Press.”
“While investors might rejoice if Apple suddenly added $10.5 billion to its profits, unilaterally erasing a massive U.S. tax obligation could tarnish its reputation as a relatively responsible payer of U.S. taxes. Instead, the company is lobbying to change U.S. law so that it can erase its liabilities in a less conspicuous fashion. The issue has become part of the presidential campaign,” Svensson reports. “Just like other corporations, Apple leaves cash overseas. If it brought it home to the U.S., it would have to pay federal income taxes on the money (though it would get a credit for foreign taxes already paid). In Apple’s case, those overseas accounts have grown to a staggering $74 billion — equal to the market value of Citigroup Inc. The money is accumulating overseas because corporations are counting on lower U.S. tax rates in the future. At 35 percent, the U.S. corporate tax rate is among the highest for developed countries. In 2004, Congress enacted a one-year ‘tax holiday’ for overseas earnings, and multinationals are hoping for a repeat of that. Presidential candidate Mitt Romney wants to permanently eliminate federal taxes on overseas profits. President Barack Obama attacked that idea last week, saying it won’t create U.S. jobs, like the Romney campaign contends.”
“Where Apple does differ from other companies is that it sets aside a portion of these overseas profits, marking them as subject to U.S. taxes sometime in the future. Essentially, it’s saying ‘this is money that we’ll likely have to pay U.S. federal income taxes on’ because we intend to repatriate it, says Robert Willens, an independent accounting expert,” Svensson reports. “But because Apple doesn’t actually bring the profits into U.S. accounts, it doesn’t pay the taxes. Instead, it records a tax liability. When Apple reports quarterly results, it subtracts these liabilities from its profits, even though it hasn’t actually paid the taxes.”
Svensson reports, “Apple has made clear that it has no intention of repatriating its profits from overseas at the current U.S. tax rate. When CEO Tim Cook announced that the company would start paying a dividend this summer, he said the board determined the size of the dividend solely by looking at the amount of cash the company has in U.S. accounts. ‘We do not want to incur the tax cost to repatriate the foreign cash at this time,’ Chief Financial Officer Peter Oppenheimer told investors in March… To get the money home without paying full U.S. taxes on it, the company advocates a change in U.S. tax law. It’s a member of Working to Invest Now in America, or WinAmerica. The coalition is lobbying for two congressional bills that would temporarily reduce the tax rate on such earnings to 5.25 percent. That would encourage the repatriation of some of the $1.4 trillion in cash that U.S. companies have sitting in overseas accounts, the group says.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “James W.” for the heads up.]
Related articles:
Apple’s showdown with the U.S. government over taxes on offshore cash – July 13, 2012
Apple‘s $74 billion tops list of U.S. tech companies’ overseas cash – July 9, 2012
Apple’s dividend move puts spotlight on foreign cash holdings, repatriation tax reform – March 20, 2012
Apple: Good start; and what about the overseas cash? – March 19, 2012
Apple’s foreign cash hoard piles up: $54 billion and rapidly growing – January 11, 2012
Senator John McCain eyes Apple’s $54 billion overseas cash pile – November 3, 2011
Google joins Apple in push for U.S. repatriation tax holiday – October 3, 2011
Apple lobbies Obama for tax holiday, wants to bring overseas bounty home – August 24, 2011
U.S Senate Democrat Schumer allies with Apple, other multinationals on repatriation tax talks – June 21, 2011
U.S. companies push for tax break on foreign cash – June 20, 2011
Apple, Oracle, Duke Energy, others organize lobbying blitz for tax holiday – February 17, 2011
It’s good to see Apple opposing Obama’s insatiable government greed and supporting Mitt Romney’s position which is also shared by U.S Senate Democrat Charles Schumer and many others.
Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States. – Ronald Reagan
Government always finds a need for whatever money it gets. – Ronald Reagan
Government does not solve problems; it subsidizes them. – Ronald Reagan
Government is like a baby. An alimentary canal with a big appetite at one end and no sense of responsibility at the other. – Ronald Reagan
Government’s first duty is to protect the people, not run their lives. – Ronald Reagan
I sure miss Ronald Reagan. There hasn’t been a conservative in office since, and sadly he never had a conservative congress to accomplish some real progress.
Socialists have taken over large parts of the republican party and have wholly owned the Democrat party for most of its existence.
is that the same Reagan that cranked spending through the roof and borrowd more money than any previous administration?
He had a Democrat congress the whole time so it’s simply a bald faced lie to say that “he” did it. The president is not a dictator as much as Obama who illegally and unilaterally gutted welfare reform by executive order did this past month.
Reagan was simply one of the greatest minds we have had in modern times, too bad his greatness was lost in you.
Like pearls before the swine as they say.
So that was the Democrat’s fault. The almighty Reagan single-handedly freed the communist world, restored the West to economic health, dismantled the Berlin Wall with his own hands (and even masterminded Iran-Contra!), but couldn’t do anything without those meddling democrats in congress messing it all up for him.
Do you not understand the difference between foreign-policy and the federal budget?
It’s called “separation of powers”….
No, he/she doesn’t understand how the U.S. government works. Yet they still get to cast a vote. That’s the problem.
Well said.
There are three ways the Reagan administration can take credit for dealing with the Soviet Union.
Diplomacy (and he did a great job at that — wish the Republicans remembered how to do that).
Military out-spending (with massive debt implications — and yes, admittedly with the support of Congress).
Being there at the right time.
You forgot the fourth:
He meant what he said and backed it up.
The U.S. had been cripplesd since Watergate, and Carter further demoralized our outlook.
But you are right, he was there at the right time……after Carter.
hmm, Obama has a Republican congress, so is it a bald faced lie to say that ‘he’ got us into this mess? The president isn’t an anti-woman dictator that would unilaterally gut women’s rights from the say so of an imaginary white man in the sky.
Obviously, his awesomeness is lost is lost on you.
Like Shakespeare before a troglodyte (pretending to be educated) as they say.
Yes a Republican house and a Democrat Senate.
Continue to pretend to be educated.
Democrats can read (but don’t seem to be able to learn or comprehend very well), and they can vote (but rarely gather a wide variety of sources of information and prefer no information, or liberal-only sources of information).
Everyone having the right to vote does not mean everyone has the ability to think.
It seems more important today to play that zero sum game where in order to win, everybody has to not only lose, but to be utterly humiliated.
Sir, I bow to your awesome use of selective facts to silence debate.
If you’re addressing me, kindly show where I am using selective facts.
He had a Democrat super majority for his first six months. That’s how we got saddled with the Obamacare mess that we’re now going to have to waste much time and effort to repeal and replace.
And he couldn’t even get single-payer through with all of those misguided Dems hanging on his every word (this was back when the dopes of the world believed he could walk on water) because he failed to do anything but sit back and let others (incompetents like Pelosi and Reid) do the work for him because that’s what his life consists of: Doing nothing. Voting present. Being named president of the Harvard Law Review without publishing anything of his own. Being handed affirmative action all along the way and then hating the country that made him into the empty suit that he is.
Maybe he realizes that he’s an empty suit and that’s why he hates America?
Sadly you are wasting your time trying to explain this to liberal socialist democrats.
Actually, he is just wasting his time, period.
And exactly what value have you added to this discussion? You have great posts here when you don’t talk about politics.
I don’t remember agreeing with most of your political views, which is fine, but have something to add beyond pure snark.
My political responses may not have been my best stuff on this forum, but your objections are primarily rooted in your near-diametrical opposition to my viewpoints (you must not have read all of my Reagan and Bush the Elder content). And I find it highly humorous to be reprimanded about “snark” from a snark artist of your eminence. Read your last post, for instance. Pure snark and not a dribble of value-added. lol
If that was my only post, then point taken. Had you contributed more than snark I’d love to read it.
I do value opinions that I disagree with when intelligently presented. I learn more from them than reading what I already agree with.
I do love many of your posts whether or not I agree with them you are at least someone who thinks before he posts.
Imagine what the debt would have been if Reagan had thought like Bush (W). At least Reagan was a “tax & spend” guy.
Where do you think the root of today’s problem is? Bush pissed away years of prosperity and balanced budgets. He spent like a drunken sailor, and didn’t think it was a problem.
Obama has spent his first term doing his best to clean up the mess of the Bush decade.
Bush overspent, true. A problem that I wish never occurred, which stemmed from a Medicare prescription plan via “compassionate conservatism” a term I despise as it falsely implies conservatives are not compassionate.
Obama hardly cleaned up any mess, he only added to it and has taken his socialist war on the rich and on prosperity to new heights, illegally ending welfare reform, claiming that all successful businesses and people owe their success to the government.
Bush was hardly my favorite president but Obama is an utter disaster.
And, no I’m not ecstatic about Romney but I will vote for him. Sadly most elections are about choosing the least objectionable candidate.
Bush also spent big on a totally optional war (Iraq), and in doing so alienated our traditional allies and therefore had to foot most of the bill for Bin Laden & Afghanistan. He did all of this while cutting taxes. Not a good model.
Obama hasn’t lived up to my expectations, but he saved the American automotive sector (which at the time I thought was pointless — I was wrong, Obama was right). Through stimulus spending and other policies Obama also prevented a full-scale economic meltdown (which in the fall of 2008 seemed like it would take us all down). So he didn’t get a chance to do a lot, but we’re so much better off today than we were 4 years ago.
Bush’s Iraq policy was flawed. We went in there with enough force to knock out Sadam, but not to stabilize the country. His post war strategy was really bad.
That said was it necessary? That’s always open for debate in any conflict, anywhere, by any two groups of people.
Look what happened to the people of central America vs the Spanish. They were virtually wiped out due to a lack of ability to defend themselves.
With major attacks on our country in play via terrorism the US no longer had the luxury to ignore threats that were far away.
If the Europeans were not so 2 faced and spineless, and frankly cause most of the problems in the Mideast with colonialism, perhaps the US would have had more help and could have forced a non military outcome. But with France and Russia trading with Iraq ignoring sanctions we had few other good options. A rogue dictator in that region bent on war is not entirely an idle threat to the US.
As unpopular as the war was and as imperfectly as the post war occupation went, I’m not sure it was such a terrible idea.
That said, yes it did cost a lot and bloated our debt.
I get your praise for Obama and I don’t deny him credit for Bin Laden, and for saving GM. If he wasn’t so hostile to free enterprise and deny people credit for their hard work and claim all businesses owe the government, and foment class warfare, I could appreciate his accomplishments more.
The Democratic party is not bereft of good ideas or people, it just lacks a sense of responsibility on how to pay for it, and any concern over bankrupting future Americans with wild spending sprees.
Why should people not even born yet have to pay the credit card bills for what we chose to do today? Where’s the justice in that? Where’s the compassion, and where is the sense of honor and decency?
I don’t think it was a supermajority. I think you are counting non-Republican members of Congress as Democratic members.
Are you using the term “women’s rights” as a proxy for abortion? The right to kill another human being is not something I’d label as a male or female right.
Or did you mean something else?
It’s very convenient that everyone who advocates for abortion “choice” are all very conveniently out of the womb and alive.
Unlike the silent voices of the millions of unborn babies murdered every year because they were inconvenient.
Actually, the Congress pretty much approved the President’s Budget in those days. He never vetoed the spending bills because the were what he requested.
“a massive tax obligation”
That part sickens me. Apple is only “obligated” to pay US taxes on money it made overseas because we have a greedy socialist and entitlement minded government and society. People and the government feel they are entitled to the labor, property, assets, and prosperity of others.
Is Obama going to claim that Apple made money in China and Japan based on US roads and bridges and other types of things?
Why should any of that foreign made money be subject to US taxation? Why should one single dime be taxed?
You claim to be one of the enlightened. Why don’t you review some history on the development of the U.S. tax code – specifically, as it relates to corporate taxes on foreign profits. These taxes did not just appear somewhere out of the blue in 2009, as evidenced by the tax “holiday” of 2004. These taxes have been around for a long time. Suddenly, they seem to be the most important thing in the world to you and your ilk.
If these taxes are so terrible, why were they not eliminated during the Bush administration rather than just issuing a one-time tax holiday? To paraphrase F10T12, Bush had a Republican super-majority for *four years* and we are now wasting much time and effort to deal with this loose end that he did not see fit to address.
I would be fine with reducing this tax as part of an overall tax code reform. But we need to balance the budget by some intelligent combination of spending reductions and tax revenues. No more tax cuts until spending is reduced!
First, thank you for your post.
Second be careful lumping me in with some category of people I share some liberal, some conservative, some whacky and all manners of views depending on the topic.
I voted for Bush Jr but did not like all his policies. I did not like Medicare perscription without a plan to make Medicare solvent. He was hardly a conservative on fiscal policy.
I’m not saying that the Republican party is a very good steward of sound fiscal conservative policy either. Neither party seems to respect the hard work people go through to supply them with piles of cash.
I also do not think the foreign tax issue is the single most important tax issue, nor is corporate taxes.
I’m not even theoretically against taxes, I’m just against funding a reckless and wasteful, irresponsible and greedy ungrateful bunch of thugs in Washington.
Show me some responsible management, show me some gratitude, show me that you can use money wisely and efficiently. Show me my tax dollars are not being stupidly pissed away, then well talk about raising taxes.
I’m not absolving Republicans of this either. If they are better it’s only by a slight margin.
This issue is about the future of a great country I love. I was born here, raised here and live here. I have been to many countries and love many other parts of the world but the US is my home. I want it to be strong and thrive and prosper. I want my great grand children to inherit a strong, vibrant and wonderful country full of opportunity.
I do not trust people like Obama who do not love or respect the greatness of this country and want to tear it down and claim that all greatness comes from Washington.
Have you been to the DMV? Been audited by the IRS? Greatness in this country all comes from Washington?
No, like Microsoft, Washington is where great ideas and people go to lose their soul and die slowly from the inside.
Taxes are a necessary evil, but I do not trust the federal government, either party, to responsibly use money it has and until and unless they can prove otherwise I’d rather see that money stay with corporations and individuals.
It’s getting to the point where Apple’s fiduciary responsibility is to buy its own tax haven.
So, if the government corporate rate is 35.5% and companies want 5.5%, a compromise 15% rate seems just about right. Clearly, 5.5% would be too low, given the state of our economy and the loss if so many outsourced jobs, all made possible by previous lobbying efforts and changes in the law.
Let’s get this done and move forward.
The issue isn’t simply overall corporate tax rates, which also need to come down, but rather the rate paid on earnings made overseas.
I have yet to see a legitimate reason why that money should be subject to any form of US taxation.
Bullshit, the US has the lowest effective tax rates in the industrialized world. Many corporations pay NOTHING in taxes, even companies like Exxon, who is seeing record profits.
How does the Federal government taking more money from corporations help make the country more prosperous exactly? Please explain.
Crickets.
The typical Lib response unless they attack you personally a la Alinsky.
Here’s a cricket making noise for you, F10T12.
The U.S. must balance its budget. That is, spending must not exceed revenue over the long term. Federal revenue comes primarily from taxes with some fees and duties mixed in. In aggregate, that revenue needs to cover expenses, whether it comes from corporations or individuals, or some combination of the two.
The problem is, some folks want to burn the candle on both ends – tax cut and spend. Doesn’t work and never will. The current poor financial situation in the U.S. is due in large part to a failed tax cut and spend experiment under the Bush administration.
Tax rates on capital gains have already been drastically reduced. Now you want to reduce tax rates on the corporations producing those capital gains, too. In other words, don’t tax businesses or their owners, despite the fact that both of them utilize public resources and infrastructure. So where does that leave us? Raise income taxes on the individual? There is not likely to solve the problem.
Honestly, you have yet to offer a real solution to our current crisis. Being against everything from the “left” is not a solution, it is a mental disorder. There is no way that so many people can be so wrong in every way as you seem to believe. Life is a compromise – try it.
Bush added Medicare perscription program which I question regarding its fiscal responsibility.
But after that we were hit by 9/11 and a threatened economic collapse. Some of Bush’s questionable policy came from that. Had we had a true fiscal conservative in office it may have been better, hard to say for sure.
As you say, everything is a compromise. I’ll go with that. I do not think either Democrats or Republicans have a monopoly of good (or bad) ideas.
We agree that having a stable, secure, long term sustainable budget matters.
I’d just like to see some of the vast amount of waste cut down before sucking more money out of the economy into the black hole of government before raising taxes.
Expect lots of articles like this, because the socialist is running for re-election.
Expect lots of articles like this, because the Republician National party will do anything to keep Obama from being re-elected, even if it means killing the country. They have said so several times. Isn’t that cutting off your nose to spite your face???
Killing the country? The last time the country was “killed under a Republican” was the Bush Jr 2nd term which had a Democratic congress..
Oops.
Oh, and Reagan had a Democratic congress, but his landslide victory allowed him to push some of his sweeping tax reforms through, and allowed the country to prosper, after suffering a democratic president and congress under Jimmy Carter.
Also, a lot of Republicans are socialist too, there is no purely conservative economic party in the US, sadly.
That’s why McConnell said that his number one goal was to prevent Obama being reelected. Not help the economy. Not help the unemployed. Not fix health care. Not do anything useful for ordinary Americans. Just stop Obama being reelected. As an elected official, he put his personal agenda ahead of the good of the country and its people. That’s why republicans vote against their own proposals if Obama signs on – they don’t want Obama to get credit for anything good. That’s treason. Republicans hate America.
Or maybe McConnell felt that by keeping Obama out of office, he thought it would do all the other things you mentioned.
Just a thought.
This is the problem many economists identified with the 2004 tax holiday at the time it was being considered–that passing it would only encourage companies in the future to hoarde cash overseas and then lobby for another holiday. Apple compounds this with accounting gimmicks that launder domestic income as foreign. (yes, mdn, I know, I know, the gimmicks they use are legal–but what you leave out of your rants is that the gimmicks like the double Irish and the Dutch sandwich are legal because the repatriation tax picks up the avoided taxes when the income is returned back to the US.)
And so everyone understands what is happening, most of the value apple adds to its products is IP. When you buy an iPhone, apple assigns the income related to the phone’s ip to a company in a foreign tax haven. The income is from a US sale but apple–yes, legally–deems it foreign income. The penalty apple suffers for this isn’t a fine, it is that the allocated income now is subject to the full corporate tax rate when retuned to the US.
Economists in 2004 also pointed out that there was no reason to believe the repatriated money would result in more American jobs or be used to expand american operations. And they were proved right–there was no job creation and, in fact, companies used repatriated cash to build foreign factories and ship American jobs overseas.
Insanity is the act of doing the same thing again while expecting different results. Support for a tax holiday is insane.
And there’s a worse aspect to the push for another tax holiday—it diminishes chances of lowering the overal corporate tax rate. Economists talk about the benefits of lowering the united states corporate tax rate while decreasing deductions, but there is absolutely no real pressure on Congress to do it.
Why? Because under the current tax system and large companies pay little or no corporate income taxes and would like to keep the current system. Apple could push for an overall tax reduction–but doesn’t because it would rather keep the curent raten and hoarde cash and pay a holiday discount rate every few years. The united states could lower the corporate tax rate to 15% and collect the same amount of money by elimination deductions, but is never going to do so while most large companies are paying an effective rate of only 2% and companies like apple are hoarding cash abroad waiting for a 5% holiday rate.
It’s not MDN’s “rant,” it’s a report from Peter Svensson of The Associated Press.
Seemed pretty damn clear to me.
So you are seriously arguing that a substantial portion of their overseas money is due to some accounting trick?
I’m not sure where you are reading this rubbish. They make around 60% of their income overseas and that roughly correlates to the proportion of their cash pile.
His point is that the largest value in the sale is Apple’s IP, but that the profit in an overseas sale attributable to that IP stays there in that country. The value was created here, so profit created by that value should be taxed here at some reasonable rate).
Absolute utter horse shit. The employees that created that value already got a salary if they worked in the US and paid income taxes.
I’m very tired of people looking for every possible way to squeeze more money out of corporations or the evil dastardly rich in order to shovel more money into the federal government. Our national government needs to prove they deserve even the vast amount of money they already receive by demonstrating respect for the current money. Show fiscal restraint, balance the budget and show how the debt is going to be repaid. Spend less on crap.
Only, and I mean only after this is done should we even discuss raising more money for the federal government.
As it is now its like handing cash to a drunken sailor as he walks into a whore house. The idea of any form of fiscal sanity is completely lost in Washington and accountability is a word they can neither pronounce nor spell.
Two different issues.
The government (including state governments) should spend more wisely. Yes.
The citizens of this country should receive some reasonable amount of tax on an American corporation’s overseas earnings. Why not?
The only question in my mind is should it be 35% (knowing that the profit was already taxed at some amount by the country in which it was earned. In my mind 35% is outrageous.
My understanding is the 35% gets a credit for taxes already paid. But that number assumes they should pay taxes here for goods sold there.
You ask why not. I say they pay taxes for income made here and their employees who work here pay income taxes here. In both cases the company and employees enjoy government services here such as roads fire police etc.
Money made by selling in say Australia uses Australian roads, police fire etc. No compelling reason that a portion of sales there should belong to the US goverent as there was not a 35% or even 15% use of US services.
So what’s your reason why they should pay.
It’s a tough question. I guess the only reason is that this country provided the stable economic conditions — the fertile soil — in which these companies were able to establish themselves in the first place. America is an incubator of amazing businesses and business people. It’s a place where a business can start with a smart idea and can grow to dominate global markets. And it’s because repatriated profits are profits nonetheless. If a credit is made for taxes paid overseas (makes sense), then the total tax burden on overseas profits is no greater than on any other profits made by the corporation.
I guess the question would be, why
I don’t know why people can’t realize one simple fact:
TAXES ON CORPORATIONS ARE JUST HIDDEN TAXES ON THE CONSUMER.
Corporations have a fiduciary duty (legally) to maximize their profits, within the law. If a corporation is taxed, the corporation either adds that tax to the price of its products, or makes a smaller profit (thereby reducing the value of the stock, a cost to the investors – namely you and me).
I’m not saying that “taxes on corporations are evil.” I’m saying that they permit government to indirectly tax you and me, and in an amount that we can never really be sure of.
Want to know how to reduce taxes? Require a balanced budget, and tax ONLY individuals. Once people see what they’re really paying in taxes, you can bet there’d be changes.
Also get rid of withholding payroll taxes.
Destroying “progressive” groupthink, one fact at a time:
Elton John praised former President George W. Bush and “conservative American politicians” for pledging billions of dollars to “save the lives of Africans with HIV.”
“We’ve seen George W. Bush and conservative American politicians pledge tens of billions to save the lives of Africans with HIV. Think of all the love. Think of where we’d be without it, nowhere, that’s where. We’d be nowhere at all,” John said at the International AIDS conference in Washington on Monday.
You’re running out of people to tax, Libs:
8,753,935: U.S. Workers on Disability Set Another Record in July; Exceed Population of 39 States
“The money is accumulating overseas because corporations are counting on lower U.S. tax rates in the future. ”
Maybe, and maybe the money overseas is kept there to pay bills overseas, such as paying billions for Chinese assembly, parts, European fines, operation costs, etc. Just a thought.
Apple’s story highlights a principle that seems to be missing from our current anti-capitalist administration – tax policy does impact a business’ strategy and where capital flows. For some reason, Barack seems to think that a tax on small business will suddenly revitalize the economy and provide jobs for people.
The only jobs it will provide are short term government jobs that will go away once the money runs out. And we will end up with another failed stimulus.
Best taxation system in the world is in the Estonia. Shame that we don’t have that here in Finland.
We need money to pay for all the stupid wars Republicans started. Either tax the corporations or tax the wealthy. I say tax the wealthy. They don’t need more mahogany deck chairs for their yachts.
Jealous peon. The only one you hurt will be yourself. The “wealthy” will be just fine, thanks.
Educate yourself:
Socialistic France’s proposed tax hikes of 75% spark exodus of wealthy.
hmm, imagine that – an obviously conservative commentator advocating that we educate ourselves and then pointing towards a conservative foreign newspaper. How cosmopolitan of you.
You would have surprised me if you had provided a link to a more moderate, or god forbid, a liberal minded publication.
As such your tactic of only backing up your views with like minded authors while simultaneously telling us to ‘educate’ ourselves to the broader views (ie. your view) is stunning.
So wait, he’s only allowed to back up his views with articles posted on Slate or Huff n Puff?
Hah! Good one!
The sanctimonious closing barb ‘educate yourself’ implies that the author is better read than the person he is castigating. Obviously he reads only those publications that support and reinforce his views and dismisses those that don’t agree with his assessment of the world.
It would indeed be a surprise if he reads HuffPo.
I read Huff n Puff a few times. I wanted to wash my eyeballs out with bleach. Sadly those people vote.
I still feel dirty.
Its good to feel dirty sometimes. Not everything complies with the antiseptic view we sometimes hold in our heads.
ha ha well said, but if I want to feel that dirty I want to at least enjoy it!
It’s not the governments money, it’s Apples money! There is nothing illegal about keeping your own hard earned money, and when the government acts like all your money is theirs, they are thieves and tyrants and should be opposed.
Vote for hope and change.
Better HOPE the Dem’s don’t take what little CHANGE you have left in your pockets once they are done with the wealthy.
BTW – it seems unfair that Apple is the only company in America that makes use of these overseas tax breaks. Shame on them.