How Apple Is Ripping Off America | Soshal Network, Social Circle Connection

How Apple Is Ripping Off America

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Apple obtains significant tax breaks while never ever bringing tasks to the US. John Iadarola, Jayar Jackson, and also Mark Thompson, the hosts of The Young Turks, break it down. Inform us what you assume in the comment area listed below. Join TYT:

" Regardless of Apple's support of President Trump's proposal for corporate tax obligation cuts, both the business's present financial investment plans and also its past record on job production show no indicators a tax obligation cut would certainly cause new Apple hiring in the USA.

A $1 billion financial investment in UNITED STATE manufacturing promoted by the business 7 months ago has yielded no indication of new tasks or domestic manufacturing. One company that Apple invested in announced quickly afterward that it would certainly build a brand-new manufacturing facility in China.

Apple, the globe's most important firm, has even more to gain from tax obligation cuts, a vital element of the GOP's Tax Cuts as well as Jobs Act, compared to other company. The suggested tax cuts would certainly decrease the corporate price on residential revenues to 20 percent. Apple's effective tax obligation rate last fiscal year was 25.6 percent.

A lot more dramatically for Apple, greatly lowered prices on repatriated revenues would certainly allow Apple to bring its significant stock of overseas money to the United States at a 12 percent tax obligation price– much below the current rate of 35 percent, and considerably less than Trump's recommended tax rate for residential earnings. Apple has $261.5 billion in money, 94 percent of it overseas. Nothing else corporation comes close.

All told, the huge tax break on repatriated foreign earnings would certainly save Apple $60 billion."

Find out more here:

Hosts: John Iadarola, Jayar Jackson, Mark Thompson

Cast: John Iadarola, Jayar Jackson, Mark Thompson

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41 comments

  1. Posted by Jarios Meskond, at Reply

    You mean “How Apple is Ripping off Stupid People”

    • Posted by Google it, at Reply

      Jarios Meskond … or “Apple is ripping off their cult of worshippers.” Basically the same thing you said.

  2. Posted by Kos_gamer11709, at Reply

    Apple is overpriced and overrated

  3. Posted by MIKE TYSON, at Reply

    Forget the $1000+ iPoop animoji crap & grab yourself a Note 8 !!!

    • Posted by Stranger Happened, at Reply

      A much worse phone from a company that gave its employees cancer? A company whose whole management through decades was pardoned for bribes?

    • Posted by MIKE TYSON, at Reply

      Stranger Happened – Well that’s Apple in a nutshell for you !!! The iPhone X has been proven to be a much worse phone & technically inferior. Yes, I heard about Apple employees developing cancer at several Foxconn factories & no, the whole management of Apple have not been pardoned through the decades of bribes, they are currently & finally being successfully prosecuted & have been charged with tax evasion just yesterday !!!

    • Posted by Dnt Wry, at Reply

      Stranger Happened No such thing as ethical consumption under capitalism.

  4. Posted by Shirley G, at Reply

    I hate my apple phone. Wish I had stuck with Android.

    • Posted by kahmaal14, at Reply

      Shirley G android is bomb, and for people like me that are a bit more tech savvy it’s easy to hack, cuz these big corporations(Android included) create this stuff to screw us the consumer.

  5. Posted by keriezy, at Reply

    Apple is the most basic of all basic.

  6. Posted by Clifton Church, at Reply

    “I’ve got a PC at home that I built…” -John

    Respect, man.

  7. Posted by Mr Green, at Reply

    Increase inflation. Will make everyone want to invest there money.

  8. Posted by TheGlassSword, at Reply

    It seems some one is getting 2 bites of the apple…

  9. Posted by Sky Captain, at Reply

    ITS đź‘Ś TO BE WHITE

    • Posted by marlonious76, at Reply

      Sky Captain
      Its great to be alive. Especially if your comfortable in your own skin.

    • Posted by Sky Captain, at Reply

      marlonious76
      True! But above all else…
      GREEN LIVES MATTER!!!!
      REEEEEEEEEEEEEERRRR!!!

  10. Posted by NickTheGreatAndPowerful, at Reply

    How is Apple NOT ripping everybody off? $1100 for a shitty phone that cracks too easily, can’t hold a charge, and needs two dozen attachments? I will keep my Galaxy S7 thank you.

    • Posted by Jonathan, at Reply

      NickTheGreatAndPowerful yeah because… this has something to do with products? Keep your opinions about products out of a serious conversation on tax evasion.

    • Posted by M H, at Reply

      NickTheGreatAndPowerful – Well, they offer you their phone, or you can buy a Samsung, which is of comparable quality and tech standard. So I can’t see how customers are being ripped off. It’s not as though apple owns a monopoly in another, essential product then ties the purchase of that product to their iPhones! That would be ripping people off, but everything Apple offers is completely independent of anything else you might have to buy. Also, given the ton of other devices I no longer need to buy, because the iPhone does it all, I don’t feel bad handing them 1K for the device. After they hand the phone over to me, it’s on me to look after it properly!

  11. Posted by Rebecca Conn, at Reply

    Nobody hates capitalism more than business. The first thing they buy is socialism for themselves and survival of the fittest for human beings.

    • Posted by M H, at Reply

      Bruce Wayne – That’s what I mean, you got it the wrong way round. Government doesn’t buy corporations, they get their grubby mitts into regulation of every facet of corporate life (which is what leftists often want), and then what have you got? A market for government influence. I.e. I have legal authority to control what you can and can’t do, when and how you can do it, etc, so let’s see who the highest bidder is. Some healthy scepticism of government is definitely in order. As is a more realistic appraisal of what government really needs to be controlling, and what can often get corrected via the market (I mean a genuine market, not one that’s been distorted by government, then those distortions exploited by private business).

    • Posted by Bruce Wayne, at Reply

      M H Those leftists in your country aren’t leftists. They’re centrists. Like Bernie. The problem with the Divided States of Retards is that the political spectrum is too far to the right. So far that even conservatives in mine and other modern nations would seem as leftists to conservatives in yours. Those “leftists” don’t want regulations to control every aspect of corporate life. They want necessary regulations to protect the public. I don’t have it the wrong way around. Goldman Sachs wrote and announced your tax plan. A former Exxon Mobil CEO is your Secretary of State. Scott Pruitt sued the EPA about a dozen times. Now he leads it. Trump has said he’s going to run the government as a business. I could keep going, but I’ll stop there. The problem with your government is that it doesn’t have enough necessary regulations(protections). For starters, you need to regulate money out of politics so you can have a democracy instead of a fascist oligarchy. Unregulated capitalism isn’t sustainable. Just look at your history. It leads to robberbarons, monopolies, the conditions mentioned in the book The Jungle, and eventual economic collapse. These events led to there being a social democratic president who became known as the Imperial President because the people liked the policies he offered. Today, the social democratic politician is the most popular politician in your country. Your market hasn’t been distorted by the government. It wasn’t the government that created the recession. It was Wall Street. They crashed the economy and used their control of the government to steal taxpayer money. Your market has been distorted by the oligarchs and have manipulated people like you to direct your frustrations elsewhere except to those that are responsible.

    • Posted by M H, at Reply

      Bruce Wayne – I’m not in the US! And I don’t believe Bernie is a centrist, he’s leftist. He want’s universal healthcare and education, and higher taxes, which is a socialist policy. The US is already highly taxed (Corp tax at one of the highest in the developed world, hence the rush to jump through any loopholes). Yes, I agree legalised money has to get out of politics, but unless government stops giving itself excessive regulatory authority, that ‘market in influence’ will not disappear, it’ll just continue under the table by corporations (and smart lawyers who know how to cover their tracks). As for Exxon Mobil writing tax plans, that just proves my point: have a simple flat rate tax, without the socialist sentiment that goes with progressive or layered taxation, then there’d be less potential for special interest groups to write complex tax plans that act as a smokescreen. I think we’re often talking about the same things here, but in different words – I did say above that one of government’s roles is to enforce sensible antitrust laws, as a prohibitive (not prescriptive) regime. Because prohibitions prevent monopoly behaviour, and they free up the market to work properly. But prescriptive rules just substitute bureaucratic idealism for practical realities, thereby causing problems in the market, which government then has to re-regulate to mend, thereby leading to a web of regulations and…a market for influence that goes to the highest bidder. The US is not in der-regulated, its over-regulated in the wrong places, with several distinct layers of regulations that aim to mend the problems of the last layer of regulation.

    • Posted by Rebecca Conn, at Reply

      The push to corporate socialism is from corporations, and give them $2 to spend and they are buying socialism for themselves. Corruption starts with the buyer.

    • Posted by M H, at Reply

      Rebecca Conn – Corruption starts with the buyer? So by that logic, you think all drug problems are down to drug takers, and not the suppliers or cartels that create the market and the possibilities to take drugs? Of course that is nonsense, you’re starting point is not buyer/seller, it’s this idea that corporations are evil, but government regulation is benign. That’s false logic, the reality is corporations are amoral entities that pursue self interest within whatever boundaries are possible. There is no point in denying that fundamental nature, or trying to regulate it away. If government wants them to behave, then you don’t create a market for regulatory influence, which can be so easily bought (whether by money in politics, or by clandestine bribes). Instead, you subject the corporations to appropriate regulation by the market, where there are too many independent entities, too difficult to coordinate, let alone bribe.

  12. Posted by Dude Wazap, at Reply

    Apple has been ripping off their consumers for years why is this news?
    The replacement glass for the Iphone X is $550 that’s a rip off alone.

    Samsung only charges $40 for their glass back replacements.

    • Posted by Tokenetta, at Reply

      I know it’s dramatic, but you’re sheep to by apple phones.

    • Posted by adam perkins, at Reply

      I do not own any Apple products, my son does but his I-pad was a gift, Apple products are overpriced prostitutes

    • Posted by WoWFiend2005, at Reply

      Just pull the pin and toss over your shoulder. KA-BOOM! Someone’s now missing a leg where your Samsung just landed.

  13. Posted by Rune Klemmensen, at Reply

    They are doing the same thing in Denmark. Luckly our policians are fokused on it and are closing the tax scam hole.

  14. Posted by HerkimerSnerd, at Reply

    Apple charges way too much for it’s 12-18 month old tech.

    • Posted by Josiah Sanchez, at Reply

      HerkimerSnerd for reallll

    • Posted by rehman arshad, at Reply

      more like 4 year old… actually

  15. Posted by Somejerk, at Reply

    Apple saving lots of money yet their phones are over priced. I’ll keep my android

  16. Posted by Carl Taylor, at Reply

    I’ve been saying for many years that all Apple products are a con – cheap hardware dressed up as bling for the rich. None of their software is ever backwards-compatible and this forces people to buy new products. It’s all advertising and image, no content. They use Chinese slave labour, just like Ivanka does. Seeing this video today just confirms my opinion of the company – a giant con.

  17. Posted by sdrawkcabgnipytmi, at Reply

    Apple has always been a scummy company. Not to mention it’s ridiculous cult following.

    • Posted by R3drift, at Reply

      sdrawkcabgnipytmi iSheep

  18. Posted by Takemikazuchi, at Reply

    This is why Android is more popular than Apple….Apple products suck and they are more expensive while it has less specs

    • Posted by Keeper Nod, at Reply

      It’s more “popular” because every shitty 100$ phone has it.

    • Posted by James Chesney, at Reply

      You apple haters do realise that google pulls this tax dodging crap too dont you?
      All big corps do it and it’s morally cuntish.

  19. Posted by Dante Velasquez, at Reply

    thats corporations. They ALL do it.