Does Apple Use Shady Tax Gimmicks & Loopholes to Avoid Paying Fair Share of Taxes?

rotten-at-the-coreA new report by Senate investigators accuses Apple of taking advantage of tax gimmicks and loopholes that help the company avoid paying their fair share of US taxes.

The report says that Apple pays ‘little or no corporate tax in any country’.

Companies, no matter who they are or how big they are, should be forced to pay the true amount of taxes they owe, and not be able to use all kinds of loopholes to stash money overseas.

Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors.

A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and 2012 — a characterization Apple flatly rejects.

The bipartisan Senate probe also charges for the first time that Apple’s long established foreign entities, based in Ireland, don’t actually have tax-resident status there or anywhere else. The company



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New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates show that business owners will be forced to pay an additional $4 billion in taxes due to Obama’s socialized healthcare – a.k.a. Obamacare – a.k.a. the largest tax increase in US history.

We are now seeing the results of the initial phony numbers that the Obama and the Democrats gave to the CBO for scoring, knowing full-well that the numbers they gave the CBO were artificially lowered so the Obamacare would pass.

Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected.

“According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues



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