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Post by appledoc on May 21, 2013 8:36:12 GMT -8
AAPL reacting well. This day has gone exactly as I have hoped so far.
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Post by vikesfaniv on May 21, 2013 8:39:56 GMT -8
Is my understanding of this correct... Apple is paying local taxes on all it's products wherever it sells them (China, Europe, etc). It then moves that money to it's holding company in Ireland where it pays US taxes on the small amount of dividends, correct? I wish TC would emphasize that they are paying taxes all over the world and then moving that foreign money to Ireland. It seems like Levin, McCain all believe apple is skipping out on foreign taxes entirely.
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Post by sponge on May 21, 2013 8:41:30 GMT -8
We are creating things people have not even imagined yet. God I love this man.
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Post by fas550 on May 21, 2013 8:45:35 GMT -8
McCaskill should have pushed him further on the China Mobile deal, "Yeah Tim how's that going? When, huh, huh, when and remember you are under oath?"
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JDSoCal
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Post by JDSoCal on May 21, 2013 8:47:07 GMT -8
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Post by Deleted on May 21, 2013 8:47:08 GMT -8
I wish Cook would point out that its chief competitor Samsung doesn't pay taxes in Korea on its US sales. Very good point JD. Something that the whole committee fails to understand. Korea taxes CONSUMPTION, not PRODUCTION, in essence a virtual subsidy that benefits Korean exporters and Korean workers. This is how our foreign competitors BEAT US manufacturers on price. Labor costs are a minor benefit to shifting production offshore. Labor costs are a red herring issue used to pit one segment of Americans against another for political benefit.
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Post by Deleted on May 21, 2013 8:49:38 GMT -8
It just occurred to me that Apple is bringing iMac production back to the US, BECAUSE Apple foresees a major change in domestic corporate tax rates.
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Post by yellowhandman on May 21, 2013 8:50:00 GMT -8
Is my understanding of this correct... Apple is paying local taxes on all it's products wherever it sells them (China, Europe, etc). It then moves that money to it's holding company in Ireland where it pays US taxes on the small amount of dividends, correct? I wish TC would emphasize that they are paying taxes all over the world and then moving that foreign money to Ireland. It seems like Levin, McCain all believe apple is skipping out on foreign taxes entirely. Cook, Oppenheimer and the lawyer made this point repeatedly. The senators just ignored it.
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Post by nathanstevens on May 21, 2013 9:01:44 GMT -8
TC - "..I'd like to see the court system changed as well. How about protecting our IP here in the US.."
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Post by sponge on May 21, 2013 9:01:45 GMT -8
Just bought more stock now that we are green.
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Post by yellowhandman on May 21, 2013 9:03:54 GMT -8
Message for today: Congress is AAPL's bitch. So AAPL is now green.
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Post by terps530 on May 21, 2013 9:04:16 GMT -8
Can you believe the CEO of our company has to waste his time talking to this useless dunderhead? Instead of, say, running the fucking company!?!?! What a classic example of a smart, dynamic wealth creator vs a parasitic, business- and economy-killing career politician. Levin managed to bore even CSPAN out of coverage. + 1 million!
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Post by phoebear611 on May 21, 2013 9:04:38 GMT -8
Quite frankly - all this Senate nonsense is simply highlighting that McCain and Levin have failed at their specific mandate - to simplify taxes AND that Congress has ALSO failed by keeping an archaic tax system. Now can I have a show of hands on everyone with any trust or charitable foundation structure...ahem, Senators? A show of hands please.
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Post by Deleted on May 21, 2013 9:05:30 GMT -8
Sen. Portman is speaking an international competitive reality where US participation is hindered by the US tax code. Good for him.
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Post by appledoc on May 21, 2013 9:06:25 GMT -8
Just bought more stock now that we are green. You said on Friday you made your last buy for awhile...
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JDSoCal
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Aspiring oligarch
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Post by JDSoCal on May 21, 2013 9:07:43 GMT -8
Yes, Samsung, thank you, Sen Portman!
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Post by rob_london on May 21, 2013 9:08:04 GMT -8
Did that guy just ask TC whether Samsung was an American company!!
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Post by yellowhandman on May 21, 2013 9:10:09 GMT -8
Sen. Portman is speaking an international competitive reality where US participation is hindered by the US tax code. Good for him. Actually I feel he's in danger of being too friendly to AAPL. He should ask his questions and let the AAPL reps answer. Otherwise this can be spun as a whitewash in AAPL's favour.
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Post by nathanstevens on May 21, 2013 9:10:27 GMT -8
Liking the points that Mr. Portman is making now.
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Mav
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Post by Mav on May 21, 2013 9:10:35 GMT -8
Geez. Oppenheimer makes a personal remark - he signs a tax return two feet tall.
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Post by Deleted on May 21, 2013 9:11:23 GMT -8
Verdict as I see it: Apple = 1 Levin/McCain = 0.
I'm still astonished Congress has the nincompoopery in it to conduct a hearing over its own complicity and guilt with the tax code. Steve Jobs would have called them bozos, deservedly so. I mean, those two clowns don't even know when they've been embarrassed.
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Mav
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Post by Mav on May 21, 2013 9:12:00 GMT -8
Levin you damn bozo. South America?
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Post by phoebear611 on May 21, 2013 9:12:35 GMT -8
Portman gets it
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JDSoCal
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Post by JDSoCal on May 21, 2013 9:12:57 GMT -8
I'm not sure who is a better recruiter for the Libertarian Party, Rand Paul or Carl Levin.
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Post by Lstream on May 21, 2013 9:14:07 GMT -8
Apple should move to Canada. Lower taxes and I am pretty sure they could negotiate free Tim Horton's for all employees for life. Seriously, in any other country Apple would be seen as a national treasure, with the economic activity they drive.
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Post by yellowhandman on May 21, 2013 9:14:17 GMT -8
Verdict as I see it: Apple = 1 Levin/McCain = 0. I'm still astonished Congress has the nincompoopery in it to conduct a hearing over its own complicity and guilt with the tax code. Steve Jobs would have called them bozos, deservedly so. I mean, those two clowns don't even know when they've been embarrassed. Think McCain knew where the line beyond stupid was. Levin is just reading from his script, and looks like a complete bozo.
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Post by alphatau on May 21, 2013 9:15:22 GMT -8
Tim Cook is doing very well. Turning the so called "grilling" into positive PR for Apple. The stock reversing to green very positive for playing out the IHS pattern.
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Post by Deleted on May 21, 2013 9:16:26 GMT -8
Levin is at it again trying to paint Apple the villain.
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Post by nathanstevens on May 21, 2013 9:18:05 GMT -8
Mr Levin is making a fine example of all that is wrong with US gov.
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Mav
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Post by Mav on May 21, 2013 9:19:16 GMT -8
I'm not saying it was legal or illegal.
The IRS says it's legal. Apple has a room for their in-house IRS auditor I bet. So what's your damn problem Sen. Levin?
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