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Post by Sarah shumaker on Nov 17, 2017 1:05:25 GMT
@ Nick I highly doubt anything will happen. People only get removed from Trumps administration when they try to reveal trumps wrongdoings. Trump was also part of this in previous years, so I'm sure nothing will be done.
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Post by Sarah shumaker on Nov 17, 2017 1:07:28 GMT
@derek I think anyone in that situation as a huge business owner would so whatever it takes to become wealthier. greed is a huge factor in society today so it would be difficult for someone to refuse a cheaper route.
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Post by Erin Reimers on Nov 17, 2017 3:37:15 GMT
Regarding the controversy concerning the multi-billion dollar company Apple and it’s use of tax havens, revealed through the Paradise Papers, brings up many varied interpretations and positions on the subject. A major factor that is revealed through the Paradise Papers is how so many companies, politicians, and celebrities have been using tax havens for many years and people have never known. Tax havens are in fact completely legal yet negatively viewed by the public. The fact that a large multi-million dollar company is indeed using tax havens should not come as a surprise to people yet still causes conflicting opinions. Tax havens are an incredibly enticing option for those who have to pay a lot in tax dollars. Big companies do not want to pay their immense taxes but instead find a way to decrease them as much as possible, preferably legally. Apple is just another one of those companies who has been caught in the crossfire created by these Paradise Papers. Apple’s affiliation with tax havens are only the result of finding loopholes for legal tax evasion. Big companies’ main focus is ultimately money. That should always come to mind when thinking of a company’s priorities. The main issue, however, with the tax havens is how all the possible tax money is not being directed to the government. The massive amount of money that is being kept to the company through tax havens that could go to the US government is what is firing up the controversy. The question of whether or not these big companies, such as Apple, should pay back the money acquired from these tax havens to the government is tactless. The money these companies have acquired through the tax havens, however despicable it may seem, is still legal which is a vital reasoning part in this controversy.
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Post by SETH THE BOSS on Nov 17, 2017 4:02:10 GMT
Apple has now become worth billions of dollars and their usage of offshore accounts, along with many other large and small businesses is not in violation of the law, and should not be treated as such. This matter has just been revealed to much of the public, but there were plenty of people who have known for along time. The usage of legal loopholes, however morally wrong they are considered, is just that: legal. The fact that these businesses have figured out how to evade millions of dollars in taxes is due to good leadership. Them deciding to store profits offshore has greatly helped the businesses and apple is just brought to the forefront because it is one of the biggest and most well known. They have broken no law, so i think that unless some new regulation is made, they should be left untouched. If they are discovered to have crossed some lines and actually have broken the law, then they should be prosecuted accordingly. Taxes are used to control the value of currency, and with the company being offshore, they evade many different countries tax schemes. The federal reserve is only responsible for the taxation of on shore accounts and should not be trying to pry into the accounts of offshore businesses. This applies to foreign countries too, they should observe the same liberties of the businesses on their lands, and not force taxes within international waters. The purpose of taxation is not to provide for governmental services. The purpose of taxation is to legitimize the currency, so the absence of paying billions of dollars in taxes does not literally “cost” the country any money, instead it gives the federal reserve a scare. The money being pumped into the economy is not being cycled back the the federal reserve and these offshore accounts are taking the controlling power away from taxation. These companies are less influenced by tax breaks and dues, because with the offshore accounts the federal reserve’s biggest weapon, taxation, is being taken away from them and more power given to these giant industries.
What is the real cost to our country if these companies fail to circulate money back to the reserve via taxes?
How many other companies have been using this for years and not criticized for it?
I there really a way to solve this issue of offshore accounts evading taxation without the introduction of new international and trade controlling regulations?
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Post by Wolinski on Nov 17, 2017 4:48:39 GMT
The Paradise Papers are one of those things people always act so surprised about when they are uncovered yet do nothing about it. What they must not understand is a simple fact of life, taxes are inevitable. A tax isn't just a way to take your half of your paycheck or anything like that. It helps aid in supplying public education to everyone, paving roads, funding the military, and anything else the government needs to fund. Without tax money, it would not be able to perform some of it's most basic functions. The BBC article highlights the sheer amount of income Apple has avoided by using tax havens and even states how many iPhones and fighter jets their 252 billion dollars could buy. To put it into perspective, Apple's untaxed income could have paid for half of US's defense budget (which is by far the most costly in the world). This habit, while legal, should not be able to be performed. The effects being caused to the general population out of pure greed is immoral and wrong. While little will most likely be done about it anyway, it still should be at least talked about.
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Post by Mr. Williams on Nov 17, 2017 13:59:21 GMT
@derek I would definitely try to find loop holes to say money and pay less because I would put it most it towards the business to make sure we would have the most top of the line technology to bring in more business so the customers are happy with there want.
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Post by Mr. Williams on Nov 17, 2017 14:01:52 GMT
@seth There has been so many businesses that have probably done this loophole but since Apple is such a big part of our society they dont want the to try and "cheat"
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Post by SETH THE BOSS on Nov 17, 2017 14:08:35 GMT
@wolinski
I would have to disagree with your statements about taxes. this seems to be aligned with the common allusion which is that the purpose of taxes is to fund government programs and services. this is wrong, because the government uses taxes to control and maintain the value of our currency. the fact of the matter is that the treasury is able to create money at its will, and the federal reserve is constantly controlling the flow of currency through the use of tax breaks and dues.
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Post by Evelyn McCullough on Nov 17, 2017 23:55:48 GMT
Although it can be seen easily as morally wrong, or greedy. The exploitation of such a loophole cannot and should not be punishable until a fine line is drawn. It's a clever mechanism that big companies use to get around taxes, and profit from.What apple did at this point in time is not forbidden by law, (even if see as morally unjust and selfish which a government should not basely be run by ), they had any right to work their way around the system . Exploitation of such things are in theory , perfectly just. Personally it can be seen as a punishment to the government for not fixing all the leaks in their plan. If you were to find that you could get something cheaper than from another person, you’d jump on that rather quickly. Its human nature to see opportunities to benefit ourselves, and take action to reap the spoils. Apple should not be forced to pay back any of the money , they are entitled to it, and have at the moment in time of their actions, did nothing wrong , and should not be able to be punished for it.
If you were given an opportunity to make a profit off something, by simple exploitation of a loophole, would you take it?
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Post by Wolinski on Nov 20, 2017 2:29:10 GMT
@seth I'm not entirely sure where your information regarding how taxes are used came from but according an article from the National Priorities Project, it precisely breaks down the use of tax dollars by the US government. While the Federal Reserve can put in and take out money freely, it would not as the economic implications would not be favorable. The article is www.nationalpriorities.org/budget-basics/federal-budget-101/spending/@erin one of the things that caught my eye with your response in how you said the companies wanted to get out of paying "immense" taxes. The issue I have with this is the corporate income tax for America is fixed at 35%. This means a corporation making $100,000 a year is essentially taxed the same as a corporation making $100,000,000,000 a year. There shouldn't be an exception just because they make more money. |
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