We discuss the elephant in the room for Donald Trump; Apple is the most profitable company in the world, has 250 billion dollars in tax shelters, and if anybody can afford to bring manufacturing facilities back to the United States, it is Apple.
Why the hell is Donald Trump focusing on the low margin, barely profitable US Automakers; go after the biggest most profitable outsourcer of manufacturing jobs, Apple Corporation.
You don’t see GM or Ford building a $5 billion Spaceship Campus because they are making such massive profits on their operations.
You don’t see Ford or General Motors making so much money that they have $250 billion hidden away in offshore tax shelters. If you are serious about the policy and consistent in this belief regarding the outsourcing of US manufacturing Jobs, go after the real violator in Apple.
Understanding Apple’s tax returns
[su_pullquote align=”right”]Donald Trump can start by making Apple pay its fair share of corporate taxes, and contributing to paying down our 20 trillion in National Debt.[/su_pullquote]
Sure, Apple would just use a lot of robots in the manufacturing process, but just like the manufacturing plants in Tennessee, there are administrative, management, and some necessary manufacturing jobs that would be required for even highly robotized the US manufacturing plants.
It is interesting how Donald Trump has basically given Apple a free pass in all this “Make America Great Again” rhetoric. Donald Trump can start by making Apple pay its fair share of corporate taxes, and contributing to paying down our 20 trillion in National Debt. If we cannot make Apple pay its fair share of corporate taxes from their massive profits, so much so that they have $250 billion sheltered offshore, how are we ever going to pay down our national debt Donald Trump? One of the few campaign issues that I agreed with you on by the way, but was happy that a politician started addressing a real problem facing America.
Where does Apple keep its money? | Photo Courtesy: Econ MattersIf we let the most able and profitable corporations in America, the ones most able to pay taxes, off the hook, then why should anybody pay their taxes to Donald Trump? I am not for rewarding Apple for basically employing tax evasion strategies when they knew the consequences of this policy beforehand, especially given the government needs the money with an out-of-control government debt issue.
Tax returns from other tech companies and Apple
We cannot afford to let all these tech companies avoid paying taxes on this sheltered money; if they bring it back, make them pay the full tax rate during the period they avoided or sheltered this money, otherwise this sets a bad precedent.
[su_pullquote]This results in these American companies all benefiting from being heavily reliant on the US infrastructure and system to get started and flourish in the first place.[/su_pullquote]
Donald Trump, you come across as a pandering politician by not holding Apple accountable. Be consistent and slap a 20% border import tax on every iPhone that comes into the US; maybe this will motivate Apple to move manufacturing facilities out of China.
Tax companies who shelter taxes in Ireland avoid paying the required tax obligations from their massive profits. This results in these American companies all benefiting from being heavily reliant on the US infrastructure and system to get started and flourish in the first place. This is just plain un-American, letting the most able get away with avoiding paying taxes because they have fancy lawyers that the average American doesn’t have access to, to shelter money and avoid paying taxes.
US companies with money in offshore accounts. | Photo Courtesy: Econ MattersStart holding Apple accountable for tax evasion, outsourcing jobs, and having the nerve to build a $5 billion campus right in the face, promoting their greedy ways at the expense of “Making America Great Again” that you, Donald Trump, supposedly stand for with a 20% iPhone import tax! Otherwise you are just another hypocritical politician who selectively gives corporations free passes when they are lobbied enough by K-Street lobbying firms.
Of course, I guess I am asking too much here from you, Donald Trump, considering you will not release your tax returns, and probably haven’t paid any taxes in 20 years. It is no wonder you are sympathetic to tax evasion schemes, but you, my friend, are just another hypocritical politician who is all talk and no action, and holds a double standard when it is in your best interests to do so. Go after Apple hard, or you are a fraud, Donald Trump!