EU Commission: Apple must repay its $14.5b Irish tax break
engadget.com/2016/08/30/eu-commission-apple-t...
engadget.comPosted Aug 30, 2016, 10:54 AM UTC
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engadget.com[deleted]
^^^^^^^^^^^^^^^^0.8886787625464223
Gone.
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"fined"
Make their CEOs work in a hard labor camp for 10 years.
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Or better yet, work for Samsung's sweatshops in lieu of the children
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And put those hard working people out of a job? Those children have families to feed dontcha know?
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[deleted]
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too cyclical
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[deleted]
^^^^^^^^^^^^^^^^0.13559192104666584
Gone.
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1 year a decade working at the lowest level of their production chain with no access to accumulated wealth. How fast would companies start implementing safe working conditions and more accurate wage-to-production ratios if that were the case?
(Doesn't solve a problem like Maria Capitalism but could help)
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[deleted]
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This sounds lovely, but the Irish government is so beholden to corporate money that they have already assured Apple that they will repeal this decision so Apple doesn't have to pay a cent.
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I hate to sound cynical, but this will be negotiated down to a $5m settlement coupled with some bribes in the right places and all will be forgiven.
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But remember guys: The problem is those benefit scroungers and immigrants!
/s
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Tax evasion is very much like doping: The winner takes it all and tax evasion can give you that tiny little boost to be better that might bring you to the top. Players that do it must be punished and countries that encourage it must be excluded from all activities.
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This isn't even the worst form of parasitism Apple is involved with. See this.
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care to explain? my IQ is 45 and my free time restrained
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Only had time to read a little bit, but it is an interesting read. I didn't major in economics but I think the average redditor can piece together that the article is arguing how GDP estimations can be deceiving, and that classical estimations of where "value" is generated do not do justice to the value that low wage workers add to companies like Apple and Starbucks and instead attribute this value to the domestic service and sales of these commodities.
I didn't get all the way through it bc I am time strapped at the moment. If you care for a sparknotes of it I'm all ears, I'm sure my understanding of it may be flawed.
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That's basically correct. The piece basically asks who produces the value, who appropriates it, and how does this arrangement work.
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Why do Apple's public comments seem to be telling bald faced lies with respect to the details of the article? Are they right and the article wrong or are they actually guilty and just lying to the public? Is Apple in the habit of making patently false statements to the media? I ask honestly because I don't actually know.
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Apple is in the business of generating profit for their shareholders. If that requires them to lie, they will.
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The problem that we have now is that the multi-national corporations are so big they can't actually be punished by any real law enforcement organization. They are beholden to the stock price and that's it. Even if they just blew off an EU ruling breaking the law, the government wouldn't do anything about it. Unless loads of people boycott Apple it won't matter, it's the global consumer forces that must punish these companies, but we love Apple too much to do that.
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EU should ban their products, granted it's not a bluff. Then watch their stock price fall and see how much they care about paying taxes.
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Why? So the Irish government can suck off some other corporation? What would be the point?
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Don't be so hasty to beat up on Apple - They are just the worst offender, not the only offender. Google, microsoft, Cisco, Intel and others are all doing the Irish-Dutch tax sandwich shuffle scam to hide tens of billions of dollars overseas - each.
Where Apple infuriates me is when Tim Cook has the balls to sit in interviews saying Apple won't comply with US demands to repatriate their earnings because the tax rate is "unfair " and they want a special deal from the federal government.
Apple is sitting on over $ 200 BILLION hidden away in overseas banks that the company is hiding from the US government . Apple wants all the priveleges and protections of US incorporation and location without letting the tax man take his fair and legal share of profits.
Do you know what 40% of two hundred billion dollars is? What that would mean to a country with crumbling roads and bridges, schools with water buckets sitting in hallways to catch drips?
40% of 200 = 80.
80 / 50 = $ 1.6 billion dollars that could be given to each state in the country to fund programs.
Brb,. Going to Best Buy. Gonna stick a 60" flat screen in my car and drive off with it. When the police arrive at my house I'm going to say I have the money to pay for it, but it's at my friends house and I refuse to pay $1500 for the TV anyhow. If the store will take $300 I'll consider it. Until then gtfo. And I'm keeping the TV.
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Oh no think of the innovations that might never happen now. /s