“This week the U.S. Senate brought Apple executives before one of its publicly held sub-committee hearings,” Mark Reschke writes for T-GAAP. “The topic was Apple using Ireland and other techniques to avoid paying U.S. taxes on products and services sold off-shore.”
“Among all the Congressional hubris that took place, one big fallacy remains: Corporations do not pay taxes, we do,” Reschke writes. “For every dollar or tens of dollars taxed and regulated onto companies, whether it be Apple, Coke or Bob’s Deli, we pay those costs.”
Reschke writes, “In reality, companies pay zero taxes, as they simply pass those costs down the line to the consumers of their products. Thus, we pay every dime of every regulation and tax bestowed onto corporations, every – single – dime.”
Much more in the full article here.
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