Friday, November 4, 2011

Apple Among The Few Who Pays Their Fair Share

I'm sure most of you are familiar with the Occupy Wall Street protests that have been going on around the country, demanding that corporations and executives and the rich in general pay their fair share in taxes which most don't). According to Cult of Mac, Apple is among the few giant tech companies that do indeed pay their fair share in taxes. Quoted from Cult of Mac's post:

"The report by advocacy group Citizens for Tax Justice and nonpartisan Institute on Taxation and Economic Policy, checked the financial statements of 280 corporations on the Fortune 500 list. Of those, 30 paid no federal taxes over the previous three years, the groups charge. Among Silicon Valley, both Apple and Intel paid a 31 percent corporate tax, while Internet retail giant Amazon.com paid only a 7.9 percent tax rate on $1.8 billion in profits between 2008 to 2010."

I've gotta say, it's pretty shocking how few and far between tech companies that pay their fair share in taxes are. If other industries follow this trend, it's really no wonder why the country is mired by these financial issues. 

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