: Reminder:  on 60 minutes tonight (Dec 20 2015)


HenriHelvetica
Dec 20th, 2015, 11:58 AM
60 Minutes are speaking w/ both Tim and Jony Ive, among a few tonight. To drum up some views the promo is about the fruit company not paying it's share of taxes (http://www.cbsnews.com/videos/preview-apple).

Should be worth watching. 19h30 EST I believe.

H!

HenriHelvetica
Dec 20th, 2015, 11:16 PM
So did anyone watch this?? Nothing new to anyone here I would gather.

They talked "innovation", the daily routines, the issues w/ the Chinese suppliers and labour practices, some of the other ppl involved - that we've been seeing on stage of late... IDK. Nothing exciting.

you can watch part 1 here (http://www.cbsnews.com/videos/inside-apple-part-one).

They then talked a touch more biz, and the billions that they are making overseas, and not playing taxes on. Tim got pretty defensive here actually, which was a touch eye opening. They concluded that part w/ a visit to the Mothership being built in Cupertino.

But maybe the most interesting comment may have been about a rumoured Apple Car, and Cook just smirked, laughed and talked about this oath to secrecy. womp womp.

You can watch the 2nd part here (http://www.cbsnews.com/videos/inside-apple-part-two) .

some interesting comments (https://twitter.com/search?f=tweets&vertical=default&q=%2360minutes%20and%20apple&src=typd&lang=en) on twitter as well...

Many are talking about his comments about the American workforce having a shortage of tools ppl, something that they are putting ppl to school for in China - as he claims. As such, he's more comfy taking the manufacturing overseas.

Either way, enjoy.

WCraig
Dec 21st, 2015, 11:38 AM
...They then talked a touch more biz, and the billions that they are making overseas, and not playing taxes on. Tim got pretty defensive here actually, which was a touch eye opening. ...

"not paying taxes" -- but the fact is that they are. Like almost every multinational corporation for the past many decades, they have organized their business to take advantage of existing tax laws. The government of Ireland created a special set of rules that gave very low tax rates to businesses meeting defined criteria. When I was first involved, the late 1980's, this was already long-established. The Irish government knew exactly what they were doing when they set up the laws. They got a bunch of businesses to come to Ireland and pay *something* where they would have got *nothing* otherwise. Several other jurisdictions offer similar setups for the same reason.

A multinational corp that _doesn't_ take advantage of such a structure would be idiotic.

I don't think Tim was defensive--I think he was exasperated that Apple is being singled out for what is a common practice. Investors would crucify them if they voluntarily paid tax that they didn't need to.

Craig

eMacMan
Dec 21st, 2015, 02:15 PM
Of course if the IRS took the 'corporations are people' stance to its logical outcome, Apple would owe several $Trillion$ in form penalties for failing to file F(u)BARs, 8938s, 3520s and God only knows what other "informational" forms.

Fortunately for Apple and every other US multinational corporation, these forms of torture/extortion apply only to Americans, and for the most part only to Americans living abroad.

A person can be deemed an American person for tax purposes, even though his only crime was being born Stateside and he has never lived or earned a dime there. So how is it that an American corporation, which claims to be a person for the purpose of manipulating Congress, does not receive similar treatment from the IRS????

HenriHelvetica
Dec 28th, 2015, 12:07 PM
"not paying taxes" -- but the fact is that they are. Like almost every multinational corporation for the past many decades, they have organized their business to take advantage of existing tax laws. The government of Ireland created a special set of rules that gave very low tax rates to businesses meeting defined criteria. When I was first involved, the late 1980's, this was already long-established. The Irish government knew exactly what they were doing when they set up the laws. They got a bunch of businesses to come to Ireland and pay *something* where they would have got *nothing* otherwise. Several other jurisdictions offer similar setups for the same reason.

A multinational corp that _doesn't_ take advantage of such a structure would be idiotic.

I don't think Tim was defensive--I think he was exasperated that Apple is being singled out for what is a common practice. Investors would crucify them if they voluntarily paid tax that they didn't need to.

Craig

Agreed, but he did jump out of his usual calm demeanour to vehemently dispute the claims - and yes, he's prob tired of being shot @. I know that they are simply using what tax subsidies and credits that are available to them, and that #1 will always be singled out despite #2 through 10 being in equal positions.

HenriHelvetica
Dec 28th, 2015, 12:14 PM
A person can be deemed an American person for tax purposes, even though his only crime was being born Stateside and he has never lived or earned a dime there.

Ironically, someone close to me is going through this at current. Born in US, and was there for maybe a few months of their life before leaving country. Now dacades later, slapped w/ a 5 figure 'tax' bill, and fighting it is somewhere around same... I forget the deets, but it was madness.

eMacMan
Dec 28th, 2015, 01:25 PM
Ironically, someone close to me is going through this at current. Born in US, and was there for maybe a few months of their life before leaving country. Now dacades later, slapped w/ a 5 figure 'tax' bill, and fighting it is somewhere around same... I forget the deets, but it was madness.
Sadly American citizenship, birth or even green cards, has become by far and away the most toxic on the planet.

Please have them check out;
Maple Sandbox | A gathering place for people fighting FATCA, FBAR and US citizenship-based taxation (http://maplesandbox.ca/)
The Isaac Brock Society | Liberty and justice for all United States persons abroad (http://isaacbrocksociety.ca/)

and perhaps giving small donations for the Constitutional Challenge:
ADCS | Alliance for the Defence of Canadian Sovereignty (http://www.adcs-adsc.ca/)

These are not sites for legal expertise, but they are sites for people sharing that dilemma and how various people are approaching it.