Imagine if companies actually paid their taxes. So many nice things we all could have.
Instead? Well yeah instead we have people with more money than money can ever buy of money. Nice.
From a US perspective: It’s more like more farm subsidies for big farm owning companies. More funding for pet projects that goes into the hands of business owners that own the criminals that have been in power for years.
In the US we could have so much more money as a society if we just had single payer healthcare. It’s our biggest expense from a federal budget perspective and from an individual perspective.
Healthcare here is a 4 trillion dollar industry where almost all the profits go into the hands of a select few who own all the supply companies that suck the profits out of “nonprofit” hospitals, retirement homes and all manner of healthcare related businesses. The whole thing thrives on the opaqueness of it all.
Plus I haven’t even mentioned pharma. The fact that we don’t have collective bargaining agreements for drug prices is fucking insane. The billions earned from 300 million doses of the vaccine and suddenly the prices go from $20 a dose (which was still overpriced by a factor of 10) to $120+ a dose is fucking absurd.
I usually agree, but in this case it sounds like they did. Ireland set a low tax to attract companies. So apple opened an office there and hired thousands of workers. And paid their taxes. But the EU did not think that was fair and demanded more after the fact.
I was having this discussion with a boss today.
The way I see it is that we say to company X. Look bro you pay your taxes in this country, none of this offshore shit.
If they say they’ll leave then let them. Are greedy capitalists really going to leave if before they were making 1B in profit and say after taxes they make 400M. Like they will take the 400M over nothing.
He sees it as a government issue, not acknowledging that the government is in bed with the CEOs.
Another one was me saying people shouldn’t earn thousand X their employees wages and have their staff using food banks.
To which I was met with well they can get another job. Like sure the dude lifting boxes at Amazon is just going to become a software developer. Hey boss why don’t you hire from Amazon. I’ll train new devs up.
I don’t know what it is with people that are older and have been successful, forgetting that for every success there are hundreds of failures. Survivorship bias.
They can always go and buy themselves more money…
This is the best summary I could come up with:
Apple has been dealt a blow in its €14.3 billion tax dispute with Brussels after an adviser to the EU’s top court said an earlier ruling over its business in Ireland should be shelved.
Ireland collected €14.3 billion in contested back taxes and interest from the company in 2018—funds that have since been held in an escrow account as the legal process continues.
The opinion shines a light on Ireland’s long-held policy of keeping corporation tax low as a driver of investment.
Any ECJ ruling in favor of paying the money to the Irish exchequer is likely to prompt calls from other EU states and the US to claim part of any payment, Regan said.
The Apple case is part of a wider clampdown launched by Brussels in 2013 against alleged sweetheart tax deals in member states.
Brussels is appealing against a General Court decision overturning an order for Amazon to pay back taxes in Luxembourg.
The original article contains 694 words, the summary contains 156 words. Saved 78%. I’m a bot and I’m open source!
Oh no! Apple accused of wrongdoing? How could they? Apple always respects my privacy, wallet and time! Impossible!
Apple isn’t accused of wrongdoing, Ireland has been accused of unfair tax laws. Unfair for other countries in the EU not unfair for Apple or Ireland. Apple/Ireland are very happy with the tax laws.
It’s also worth noting that apple has already handed over the €14.3b - it’s just being held onto pending the conclusion of the investigation.
Personally I think it’s nuts - they’re arguing the money should go to Ireland, which is who they’re accusing of breaking the law. So Ireland will potentially get both the proceeds of the crime and be awarded damages for the crime. WTF. Money should be handed out to other countries in the EU.
If this becomes precedent and enforced the whole Irish tax dodging method becomes moot, puting Ireland on par with other EU nations. If this is a high enough fine it will have long term ramifications.
The main issue to me is, big companies will find the next best thing and continue with unethical accounting, outside of the EU.
They’re a trillion dollar company. Hopefully they pay their dues.
And yes crApple should be on the hook!
