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Papa Shango said...
Again, if you had any knowledge of income tax accounting, then you wouldn't be getting destroyed in this argument. Income tax expense on a company's income statement does not equal cash taxes paid to the IRS. They expensed 8 billion of taxes on their income statement, which includes deferred taxes. They actually paid about 3 billion, which is not even all for this year (includes future payments).
Let me make it easy for you and quote directly from the article which you perceive to have a mastery of:
As it stands, the company paid cash taxes of $3.3 billion around the world on its reported profits of $34.2 billion last year, a tax rate of 9.8 percent. (Apple does not disclose what portion of those payments was in the United States, or what portion is assigned to previous or future years.)
Now that we have the facts out of the way, please continue to make whatever bullshit talking points you were trying to make.
This post was edited by Bullwrinkle on 4/30/2012 at 6:38 AM
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Bullwrinkle said...
What article do you refer too, I never linked one. I simply quoted the reported numbers from their financial statement? Again, they reported paying $8 Billion plus in taxes. Is it your contention they aren't going to pay that? Not to pick any nits here, but now you also want to claim that some of those taxes are foreign. Well aren't some of those profits foreign earned? Yet you want to claim an effective tax rate assuming all profits were earned in the USA. Try again Pops.
Oh jeez, I had no idea that I was dealing with such a simpleton.
The article was the reason we are having this discussion in the first place. Is that what all connies do, just overhear that somebody is discussing taxes, and decide to chime in with your talking points without having a clue as to what is being discussed?
And you are wrong, they do not report "paying" 8 billion in taxes. They are reporting accruing 8 mil in taxes. This includes current and deferred. They are not required to report what they paid to the IRS on their financial statement. No company is. Per the interview in the article, they PAID 3 billion in taxes worldwide, with an ETR in the single digits. ETRs are reported on a worldwide basis, nobody is discussing foreign vs. domestic.
You are clearly failing this argument but yet for some reason you keep trying. lol
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Papa Shango said...
Oh jeez, I had no idea that I was dealing with such a simpleton. The article was the reason we are having this discussion in the first place. Is that what all connies do, just overhear that somebody is discussing taxes, and decide to chime in with your talking points without having a clue as to what is being discussed?
And you are wrong, they do not report "paying" 8 billion in taxes. They are reporting accruing 8 mil in taxes. This includes current and deferred. They are not required to report what they paid to the IRS on their financial statement. No company is. Per the interview in the article, they PAID 3 billion in taxes worldwide, with an ETR in the single digits. ETRs are reported on a worldwide basis, nobody is discussing foreign vs. domestic.
You are clearly failing this argument but yet for some reason you keep trying. lol
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Bullwrinkle said...
So I ask you yet again - are they going to pay the $8 billion in taxes they reported? You continue to duck and dodge. It's a simple question. You specifically brought up foreign taxes paid, I never mentioned it. So when you say "nobody" is discussing that....I guess that means you are a nobody.
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vator88 said...
Weren't the libs lecturing people on this very point vis a vis Warren Buffett's Berkshire Hathaway, to explain why it was not inconsistent for him to argue for increased taxes on individuals all the while doing everything he could to avoid taxes on his corporate interests?
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Papa Shango said...
No. They will not, as the article clearly states (article? what article?). The 8 billion is an accrual, an estimate so to speak, most of which never gets paid. There is something called a "true up" that reconciles taxes expensed vs. taxes paid. A company is never required to disclose their true-ups to the public.
Keep going, you're doing well here.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Papa Shango said...
It usually gets disclosed privately or leaked out for interviews. Sometimes the company voluntarily discloses this info
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Papa Shango said...
See my post: Sometimes the company voluntarily discloses this info. I think it's easier to get a coherent point across to my dog than it is to you. Jeez Louise.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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GRR Spartan said...
You can hand trollwrinkle his ass on a plater multiple times and he'll continue to try to stir the pot.
Always remember trollwrinkle has posted multiple time his purpose is to stir the pot, not participate in any discussion or acknowledge he didn't know.
Hey GRR - could you tell us again the story of Journalist private Al Gore leading combat missions in Vietnam under his commanding officer Mike O'Hara? I love that one best, because it demonstrates how truly factual you are.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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GRR Spartan said...
You can hand trollwrinkle his ass on a plater multiple times and he'll continue to try to stir the pot.
Always remember trollwrinkle has posted multiple time his purpose is to stir the pot, not participate in any discussion or acknowledge he didn't know.
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Papa Shango said...
Thanks for the heads up. I'll ignore him now. Dude chimes in on a thread discussing an article that you posted with his 3 rehearsed lines. His points get disputed by data from said article. He then says article? what article? lol Trollers gon' troll
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Ballwrinkle said...
All I know you chimed in to tell us definitively that you don't know what Apple paid. That clearly makes you an expert. I just posted the numbers from their financial statement.
It looks like you've impressed yet another poster with your well-reasoned arguments and charming personality.
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Pervis Muldoon said...
It looks like you've impressed yet another poster with your well-reasoned arguments and charming personality.
I'm just here to educate the ignorant. You're my star pupil Prevert.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Pervis Muldoon said...
I almost forgot - there's also your continual fantasizing about being a teacher, likely caused by your obvious failures as a student.
The best analogy is you are Spicoli in Fast Times At Ridgemont High and I'm Mr. Hand. It's not going to be easy, but you're going learn something sooner or later.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
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Bullwrinkle said...
The best analogy is you are Spicoli in Fast Times At Ridgemont High and I'm Mr. Hand. It's not going to be easy, but you're going learn something sooner or later.
You're the only person I've ever heard of who saw "Fast Times" and daydreamed about being Mr. Hand.
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$75K-$100K individuals? They got nothin' on Apple.