Lawmakers say Apple dodged billions in taxes…

Apple CEO

A Senate panel late Monday accused Apple (AAPL) of using what it called a “complex web of offshore entities” to dodge billions of dollars in U.S. income taxes.

Source: Lawmakers say Apple dodged billions in taxes – CBS News.

If we could just manage to get a Centrist party in control of those folks in Washington one of the first things I would want them to attack is our bloated tax code. The 10,000 plus pages of rules are at the core of the above article. Of course businesses want to minimize their tax load in order to increase their profits.  That is, after all, what the free enterprise system is all about. Profits are the sole driver.

One of my major themes in my life lately has been around the word “Simplify”. Our world is just getting too complicated when it doesn’t have to be. Let’s throw out those 10,000 pages and replace them with just a handful. Let’s take away the means for corporations to move massive amounts of their income into tax exempt entities.

Let’s just make income well, income. If it comes in it is income and you pay a certain percentage of it as taxes to support our government and its business. For the individual that means you pay the same rate for income for profits from your investments as you do from the sweat of your brow. That means if you inherit income you pay your taxes on that amount in order to pass part of your windfall on for the common good.  You didn’t earn it so it is taxable income to you. For corporations money coming in is income; doesn’t matter if it was from a foreign sale or one in the U.S.

Lets Get a Centrist party in power and direct them to simplify our tax code. After they accomplish that then I would want them to give us “real” universal healthcare; not that pretend extremely watered down version called Obamacare. But first things first I guess and that is getting centrists into power in our government. Click on the logo below to see more about that.

Centrist Party

6 thoughts on “Lawmakers say Apple dodged billions in taxes…

  • Flat tax means exactly that. Any money coming in gets a flat tax (say 10%). You exempt the first $20,000 for everyone. Yes, that means if you make $24,000 on SS then you pay 400 tax. If you make 2,400,000. You pay 240,000 tax. Coporations taxed at 10% with no substidies or loop holes. We are talking a tax code of one page.
    I don’t pay for the delivery person at a law firm. You don’t pay for extra decorations on my classroom.

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    • But we can all dream can’t we. 🙂

      I would maybe adjust the base number but can’t say that I would disagree with her basic thoughts. But like you say it would never be that simple. Lets say there is a family of four, a mom, dad, and one teen working part time. Do each of them get the $20k exemption? If not then what about the couple who aren’t married do they each get the exemption. Things would quickly get complicate with just that one adjustment and all of us know that there will be more than one adjustment……

      I am kind of surprised that Janette isn’t arguing against my basic income criteria of income is any thing coming to you from whatever source. That includes inheritance as well as capital gains and ordinary income.

      But, lets face it money is power and that is something that is very unlikely to be relinquished by those folks in Washington. That is totally what it is about there right now.

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  • Your word may be “simplify” mine has evolved to “equality.” In this I think we are looking how one might cause the other. Thanks for your thoughts on this–Barb

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