Quote:
Originally Posted by Azure
My problem with Apple is the US simply can't compete with the .06% effective tax rate Ireland is offering Apple. So Cook can talk all he wants about a fair rate in the US, and he is right about that, but while the loopholes exist, Apple and other companies will continue using them.
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It's a bit of a simplistic view to have though - the very same loopholes resulted in Apple's bond issuance to initiate the stock buy back, and the gov will tax proceeds on that. Anything that keeps money moving through the system benefits the system.
On a tangent, are they really loopholes? Seems like these companies that keep money offshore do so within the legal tax framework established by the government, so if massive loopholes existed, why wouldn't they be ammended? I don't know enough about this aspect of the larger story.