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Tuesday
May012012

As We Celebrate May Day - See Where Apple Hides it's Billions Tax Free

May 1, 2012

As hundreds of thousands of worker and labor activists prepare to demonstrate today and celebrate their worker power, it is instructive to remember how things get so lop-sided in this crazy, unbalanced economy.

At a time when school budgets are getting slashed and uniformed services necessary for our comfort, safety and security fall under the ax - the NY Times has detailed a very simple, completely legal scheme whereby Apple, the most profitable company on earth - nearly $47 Billion earned this past year! avoids billions in state income taxes by....simply moving an office to Reno, NV.  Nevada has no state income tax - versus California's obviously onerous 8.4% tax on corporate profits. Of course without things like public schools and road and fire, sanitation and police services, among many others - Apple might never have grown to be such a successful corporation. But these are the heady days for the 1% types and they will fill a phone book with excuses as to why paying anything like a fair share of local taxes is a burden on their growth and ability to compete. In fact, they and many corporate types like them are heavily funding GPS:Crossroads - the GOP attack Obama machine - and the funding arm of the "save Scott Walker from early forced retirement," committee in Wisconsin.

This, of course, is complete and utter nonsense and we must treat it as such. If Apple alone paid a more equitable share of it's profits to CA as tax, that alone would add almost $3 BILLION to the state treasury. To say this would not have any effect on the quality of life of most CA residents, suffering under austerity programs, like in most states right now is just hogwash. Would Apple be that much the loser on $47 Billion minus the $3 Billion?

As you march around the country tomorrow and think about the roles of the 99% and the 1%, think about common decency, think about fairness and what we once thought of as the American dream. And before your reach for that new Ipad or Iphone, think about a company that wants to take your hard earned money, suck out the resources in your depression shocked neighborhood, then put it down and write them a letter about being a better corporate citizen to the rest of us in the country.

Read the rest of the article here:http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html?src=me&ref=general

See you out on the street today!!

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