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Apple dodged $2.4 billion in taxes 2011 alone

Apple dodged $2.4 billion in taxes 2011 alone

(3:45) Even corporations people love are at it. Apple set up financial offices in states like Nevada (which has no income tax) and routing other profits through Ireland, Luxembourg and nations in the Caribbean, they avoided an estimated $2.4 billion in US taxes in 2011 alone. The Young Turks host Cenk Uygur explains.

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cengland0 cengland0 (2008 days ago)
Latest comment: Don't you realize that corporations pay double tax? First, the company pays taxes on their profits. Then, when it gets distributed to the owners, the owners pay taxes on those distributions. Those loop-holes that he's talking about are legal. They are probably due to some of those profits not being classified as profits and that's why they don't pay taxes on them. For example, you could say the same thing about a person that has an income of $30,000 but doesn't pay taxes on the whole amount because he/she has a home loan and can deduct the mortgage interest. That's a legal deduction and I'm sure all corporations take as many legal deductions as they possibly can.
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Latest comment: Don't you realize that corporations pay double tax? First, the company pays taxes on their profits. Then, when it gets distributed to the owners, the owners pay taxes on those distributions. Those loop-holes that he's talking about are legal. They are probably due to some of those profits not being classified as profits and that's why they don't pay taxes on them. For example, you could say the same thing about a person that has an income of $30,000 but doesn't pay taxes on the whole amount because he/she has a home loan and can deduct the mortgage interest. That's a legal deduction and I'm sure all corporations take as many legal deductions as they possibly can.
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Guest: Submitted as a guest (2011 days ago)
One fine Young Tusk he is.
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One fine Young Tusk he is.
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Guest: Kerry (2011 days ago)
Umm Cenk,you're talking about the Obama admin. here,liberals....why not mention that?Can you say BIASED!
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Umm Cenk,you're talking about the Obama admin. here,liberals....why not mention that?Can you say BIASED!
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