Les Wrote:
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> Because they're big tax cheats. They keep
> separate set of books for each country and claim
> the profits are earned offshore.
>
>
http://www.zerohedge.com/sites/default/files/image
> s/user5/imageroot/draghi/Apple%20Cash%20vs%20Taxes
> .jpg
>
>
http://www.zerohedge.com/article/charting-apple-ca
> sh-bank-vs-cash-taxes-paid
Les, a lie is a lie no matter how many times you repeat it. There's no magic number that makes it come true.
Companies that offshore their profits to benefit from more reasonable corporate tax rates are following the law as it's written. That makes them smart, not cheats. Don't hate the player, hate the game.
Oh, and if US corporate tax rates weren't so confiscatory and punitive, there wouldn't be such an incentive for companies to offshore their profits. Per OECD statistics, the US—at a combined corporate rate of 39.6%—is second only to Japan among developed countries with the highest corporate tax burdens.
So, Les, why don't you have a nice Dutch Sandwich, wash it down with a Double Irish, and shut the fuck up about "tax cheats." Y'dig?