Nobel-winning economist Joseph Stiglitz calls Apple's tax strategy a "fraud"


#1

Originally published at: http://boingboing.net/2016/07/29/nobel-winning-economist-joseph.html


#2

I don’t understand this statement. Is he saying that the American tax laws are too high, thus encouraging them to seek tax havens? Or that the laws are too loose to allow them to use tax havens to begin with?


#3

“…the health systems that keep the majority of their workforce dying from TB or yellow fever…”

Hmmmm… This doesn’t seem quite right.


#4

I don’t get how the “trickle down” will get to the USA from China?

written from my iphone


#5

The Problem with Stiglitz is that he supports it when the state uses fraudulent accounting.

Go and look at the accounts of any western country, from the US down.

Ask the simple question, where are the pension debts? They don’t appear in the balance sheet, and that’s completely fraudulent.

Why would Stiglitz only work off what the governments owe the banks and ignore what governments owe to the little people?


#6

The government isn’t a corporation. Rules of accounting for businesses do not apply to the government. for instance, the government can print money if it wants to.


#7

He’s (rather unambiguously to me) discussing the globalist loopholes that encourage corporations to not pay taxes. No corporation is loyal to America in that manner.


#8

Hooray! nickle is here to complain about social security (again).


#9

Sounds like a GOP argument for abolishing corporate income tax.


#10

Er, there are many levels between abolishing and lowering. But, again, I am unclear as to his point.

I don’t think the GOP even supports abolishment, how would you pay for more F-35s?


#11

A comment I recently posted on my social media streams seems appropriate

"I know there’s the state cover ups of systematic child abuse, the mass graves of unwanted children, the U2, but literally nothing makes me more ashamed to be Irish than hearing or seeing someone saying “they’re coming for our corporate tax rate”.

Sorry world."

Fuck this shit. Shameful, shameful shit.


#12

And none of that nuance in the party, currently.


#13

One way you can design the tax code system, particularly the corporate tax system is to assume amoral actors who will act to minimize tax liability, within the scope of the “fitness landscape” defined by the current tax code.

It is the best interest of Apple’s balance sheet to funnel its profits through a corporate entity in Ireland. It is probably in the best interests of the United States to close off these strategies.


#14

ok ok, I get your point. But does that in any way change whether offshoring profits to reduce tax burden is fraud or not?


#15

Doesn’t work. The debt is inflation linked. You can print notes but you
cannot print tins of beans


#16

They’re working on it.


#17

It’s times like this I wish I understood what the hell he’s talking about!


#18

At some stage, my brain will realize that Joseph Stiglitz isn’t this guy:


#19

It’s awful but literally all the big companies do this to some degree. Good thing President Trump will put a stop to this practice, right?


#20

Just think, one day you will be able to download a car!