Apple said it wanted to see legislation that "dramatically simplifies" the US corporate tax system.
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It was the 2nd largest grant in US corporate history according to Equilar.
Its subsequent bankruptcy, the biggest in US corporate history, left investors nursing heavy losses and wiped out many employees' retirement savings.
Chart 28 gives us corporate profits as a share of national income.
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And Apple has most certainly been keeping those foreign profits out of the US, something which substantially reduces the US corporate income tax bill.
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Foreign profits brought into the US pay US corporate income tax.
It is rather twofold: the effective tax rates paid by recipients of US corporate dividends will be higher than those paid on other forms of income.
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Looking at the number of borrowed securities over the past year, we can see a distinct difference between implied shorting activity on US corporate bonds, Treasuries and US equities.
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Most of these bonds are denominated in dollars, as despite the introduction of the single currency the US corporate bond market is far bigger than the market in Europe.
The chart from The Wall Street Journal shows the dramatic rise of the Barclays US Corporate High Yield Bond Index in 2012, and the further gains in early 2013.
"Apple welcomes an objective examination of the US corporate tax system, which has not kept pace with the advent of the digital age and the rapidly changing global economy, " the company said in testimony released Monday.
WSJ: Apple Pays No Tax on Much of Its Overseas Income, Senate Panel Finds
Since there has been a lot of talk about the fiscal cliff, the US corporate tax rate of 35% and tax law changes I thought it would interesting to see what rates large tech companies pay.
Mr. Henry also edits SubmergingMarkets.com, is a frequent commentator on Al Jazeera, and has helped to produce and has appeared in many documentaries, including "Cocalero" (2007), a documentary about Evo Morales, and "We're Not Broke, " a documentary about US corporate tax dodging that premiered at Sundance in 2012.
In 2012, Apple alone accounted for hefty chunk of the rise in US nonfinancial corporate profits.
Apple alone accounted for hefty chunk of the rise in US nonfinancial corporate profits.
And some countries, in fact all countries except Japan, have lower tax rates than the US on corporate profits.
So what does this all tell us about corporate social responsibility?
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The stock markets, where most international indexes are about 30% below their 1999-2000 peaks, are telling us that corporate earnings are likely to be much lower than analysts had expected.
Which brings us to corporate reform.
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All of the countries above the US have a lower corporate income tax rate than the US. Thus the secret to happiness is to have a lower corporate income tax rate.
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We're also considered middle class and it seems like they keep constantly wanting to take it away from the auto worker and prosecuting us, instead of the corporate that brought us to this.
"I think that to suggest that God might intervene to protect us from the corporate folly of our practices is as unchristian and unbiblical as to suggest that he protects us from the results of our individual folly or sin, " he said.
The Citizens Market approach empowers us to shape corporate practices through our purchasing power.
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Published tax rates in the US, particularly corporate tax rates, are excessive and about to become much moreso.
In the US system the corporate income tax is levied upon dividends first and then dividends are taxed again at the individual level.
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For one, the fact that limited profits were immediately reinvested in the business that was the Rolling Stones reminds us how crippling corporate taxes can be, particularly on businesses just getting started.
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And yet, the man with the plan to be speaker of the House, John Boehner, attacked us for closing corporate tax loopholes and using the money to keep hundreds of thousands of essential personnel on the jobs all across the states.
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It tells us the value of corporate cash flows relative to other assets.
This is more a milestone for us keepers of the corporate tablets.
But they are also important in reminding us how critical to corporate success can be the talent and energy of individual professionals, even in Japan.
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