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September 27, 2013 at 6:50 AM
All the threats of a shutdown of the U.S. government on Oct. 1, and the dark cloud over the federal debt ceiling has Congress looking at federal tax reform. That in return has caused a spike in employment on Capitol Hill, for tax lobbyists.
My column is about legislation introduced by Sen. Carl Levin, D-Mich., who wants to go after U.S. corporations and individuals that stash stupendous amounts of money overseas to avoid paying federal taxes.
Other members of Congress want to revisit federal tax rates and simplification of the tax code.
The result has been a hiring boom for tax lobbyists and tax lawyers, and a substantial bump in lobbying expenses for companies that like things just the way they are.
The federal budget needs a rigorous look at budget cuts, entitlement spending and federal tax revenues. Close the loopholes.
Corporations and wealthy individuals avoiding taxes pass the burden on to small business and families. Fix a broken system.
August 13, 2013 at 7:50 AM
This week’s biggest surprise: Actor Ashton Kutcher gives a surprisingly inspiring and smart speech at the Teen Choice Awards. In a brief acceptance speech, Kutcher channels Apple founder Steve Jobs and champions nerds with three pieces of advice.
Juju Chang of Good Morning America posted it on Facebook, calling it “remarkable.” I could not resist watching and now you can be the judge.
Kutcher will play Steve Jobs in an upcoming movie, “Jobs.” Here is a Los Angeles Times story about his role. And it looks like he’s already echoing Jobs’ talent for inspiring people with his speeches.
May 23, 2013 at 7:10 AM
Apple executives were shocked, shocked to find U.S. senators who were amazed at the technology giant’s capacity to avoid taxes. Maybe the incredulous response was appropriate. Congressional indifference has aided and abetted the scam for years.
Apple moves billions of dollars around the planet before it lands in Ireland for a bit of Irish cream. Low taxes and, sweeter still, tax avoidance.
The Senate appearance by Apple CEO Tim Cook was, in effect, an homage to the power and influence of Apple in U.S. politics. The company gets to use the federal services in the United States, and not pay its fair share of them. That is left to you and me. How do you like that arrangement?
One has to marvel at the magic of Apple’s legal and accounting crews. The Los Angles Times story described how one of the companies, Apple Operations International, which has no employees, reported $30 billion in income in four years, and has not filed an income-tax return in any country for the past five years.
Right. So if you wait tables or work as a barista, try not reporting any tips for a few years. Expect a call.
Oh, and the best part, Sen. Rand Paul, R-Ky., the deficit hawk, cannot understand what the fuss is all about with Apple. Any pursuit of equity for mere mortal taxpayers would be “bullying, berating and badgering” one of his district’s favorite constituents.