Naj0rt - 11:00 am on May 23, 2013 (gmt 0)
I disagree Ian it is simple tax avoidance to my mind. Maybe you are referring to the accounting tricks as complex and I'm sure that's true. Then again if this is true...
what has been outlined in these reports sounds an awful lot like money laundering on a grand scale.
then maybe it is complex after all. I'm ignorant of the actual details sorry. For once I don't blame the companies though. They'd be fools not to do it actually because if they didn't they'd be at a competitive disadvantage and that's no way to do business.
When I read about "its not fair", "the middle class will have to pay more", etc. I can't help but think it smacks of middle class hypocrisy. Once deductions are accounted for a middle income spectrum family of four in the USA pays an effective Federal income tax rate of 5.3%.
Middle class hypocrisy? Gimme a break. It's not like the middle class has anything to do with the structure of Americas tax system so how are they being hypocritical? If what you are saying is true then it means the poorest americans are paying more than their fair share of tax, and from everything I've read that is exactly the case. And that's not just hypocritical it is obscene, but that's just my opinion.
Then they all will leave.
Fear mongering BS. Isn't America the greatest country in the world? Why would they leave such a country? Again just my opinion and I don't wish to debate this.
Problem isn't taxation. Problem is spending.
Surely its both? (just discovered martinibuster already pointed this out, but I already typed it so I'm leaving it. Sue me)
The tax avoidance they're complaining about is not illegal according to the laws THEY created.
It's not that simple. It's not like Politicians/Congress/public servants snapped their fingers and whalla you have a taxation system. It is developed over decades even centuries and it's complicated and right there is the true heart of the problem. Governments around the world have been legislating to stop tax avoidance for a long time with little success and that's what brings us to this point. America has a spending and taxation problem and so far they haven't been able to fix either but that leads me to my final point which is actually positive.
What all this means is that finally, FINALLY congress is taking action to fix the UNBELIEVABLY MASSIVE taxation shortfall the US has. I applaud them for that. As I said governments around the world have been trying to stop tax avoidance with little success and from what I see, the US system of basically naming and shaming the biggest target has the best chance of actually succeeding. My fingers are crossed for them because as always this affects economies around the globe, because I would argue that the world economy needs a healthy US economy although it becomes less important as the Chinese economy grows but that's yet another issue.