| Title | If Apple Didn’t Hold $181B Overseas, it Would Owe $59B in US Taxes | |
| Date | Thursday October 08 2015, @09:43PM | |
| Author | n1 | |
| Topic | ||
| from the ifs-and-buts dept. | ||
Despite the somewhat incendiary headline, the article mostly details the extent of the problem of corporate tax avoidance in general.
US corporate tax collection as a percentage of GDP is currently at an all time low. This means the U.S. government has to compensate for the shortfall from other sources (read: domestic taxpayers with no multinational activity) and cut public spending. There is, of course, an alternative: to change the law so Apple actually pays taxes on this income. In current Congressional environment, this will happen immediately after hell freezes over.
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printed from SoylentNews, If Apple Didn’t Hold $181B Overseas, it Would Owe $59B in US Taxes on 2024-04-19 01:33:03