Apple: Tax Fraud or Patriot?

In January, Apple (NASDAQ: AAPL) CEO Tim Cook made a BIG announcement:

Apple Accelerates U.S. Investment and Job Creation

The company says it will spend $30 billion in the U.S. over five years and create 20,000 new jobs. Plus, the company announced a $2,500 bonus for every employee.
Tim Cook commented, “We are focusing our investments in areas where we can have a direct impact on job creation and job preparedness.”
President Trump was quick to praise Apple. And he even called Tim Cook to say “thanks.”

Tim Cook wants to be viewed as a patriot who’s helping support the American dream. Yet, this $30 billion investment and new jobs were already planned. It’s worth noting that Apple spent $14.9 billion on capital expenditures last year.
The fact is, that for the last decade Apple has been legally stashing cash overseas to avoid the tax man.
Last year, the company reported that it had $252 billion in offshore cash reserves. That’s 94% of the total cash on Apple’s balance sheet!
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In 2018, the company the company is being forced to pay $38 billion in taxes. And Apple was proud to point out, “A payment of that size would likely be the largest of its kind ever made.”
Tim Cook wants to get credit for “investing in America” – and making a huge tax payment to Uncle Sam.
Yet the only reason for the large payment is because Apple has been avoiding taxes for years.
As early as 2012, I recall reading a New York Times article titled “How Apple Sidesteps Billions in Taxes.”
That article described how Apple set up a subsidiary named Braeburn Capital in Reno, Nevada. It uses this outpost to avoid taxes in California and 20 other states.
It’s all part of a complex strategy to avoid taxes in high-tax countries like the U.S.
How does Apple do it? Well, they funnel those profits to low-tax countries like Ireland, the Netherlands, Luxembourg and the British Virgin Islands.
Apple’s filings with the S.E.C show what’s happening. In 2017, Apple reported $64 billion in pre-tax income. And the tax? $11.6 billion.
That’s an effective tax rate of 18.1% – nearly one-half the U.S. federal tax rate of 35%.
Is Apple a tax fraud? NO.
Is Tim Cook intentionally misleading the American public about Apple’s motives? PERHAPS.
Now, you can either be ANGRY. Or you can get even.
You see, just about every American corporation has been using the over-complicated tax code to game the system. This includes big companies like Apple and Microsoft (NASDAQ: MSFT) and mid- and small-cap companies that you’ve never heard of.
The good news is that they’re starting to pay out this cash. And folks like you and me have a chance to collect these “Liberty Checks.”
The next check gets paid out on April 27. And you could collect $3,360 in an instant payment.
Click here now – it’s FREE.
Yours in Profits,
Ian Wyatt

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