A group of protesters that feel that Apple is trying to weasel and dodge its way out of too many taxes will be protesting in front of Apple Stores around the US. The group, called US Uncut, aims to inform people about companies that are dodging taxes, and stop them from doing so.
On June 4th the group has a number of nation-wide planned protests, as part of their Win America Campaign. A spokesperson for the group has said, ““Apple plays huge games with their taxes. By disguising profits in the U.S. as foreign earnings in low-tax countries, Apple dodges billions of dollars of taxes they should be paying,”
Other targets of US Uncut include Bank of America, Verizon, FedEx, GE, and BP, although they seem to be mainly targeting Apple with the protests, likely because doing so is more likely to get them in the public eye.
This is sort of a complicated issue. The bottom line is that if Apple doesn’t get this one-time tax break, they’ll just continue to keep their money overseas, where the tax laws are more forgiving. While the principle of that tax break might suck, and could be a slippery slope, the actuality is that if Apple can’t bring that money in-country, it can’t spend that money in-country… which may or may not have a marked positive effect on our economies.
What are your thoughts? Do you sympathize with US Uncut, or do you rule them out as extremists with no hope? Sound off in the comments.