20120320

Apple’s $64 Billion Tax Dodge

The Washington Post offers up this bit: Apple’s $45 billion announcement: What it tells us about the tax code - 
"Right now, the vast bulk of Apple’s cash on hand, about $64 billion, is parked abroad." 
Oops. Will this upset most status-conscious lefties? Hardly. Unlike oil companies who make hated products, Apple makes trendy, beloved products (with cheap Chinese labor to boot). The same is true for Starbucks (sans the Chinese labor.)

Remember the outrage over companies who keep their profits offshore? Remember the outrage over Mitt Romney's "offshore" money? Posturing over principle.

What we find in instances like this is selective outrage. Most people do not really believe in principles. Many are simple partisans. Many are followers, happy until someone tells them to get upset.

Question. What would be the benefit of making the tax situation attractive enough for US corporations to bring those billions home?