Reagonomics and unfettered speculative capitalism are ideas whose time has long passed but still hold sway and make a mess of everything.
Senate Subcommittee on Offshore Profit Sharing, chairman Sen Carl Levin, May 21, 2013.
The revenue crisis and the war spending crisis are products of tax evasion, tax havens, cooked intelligence and myths of self-correcting markets, corporate beneficence, beneficial inequality and trickle-down prosperity.
Panel 1, 2 hr 3 min
http://www.c-spanvideo.org/program/Holding
Panel 2. 1 hr 35 min
http://www.c-spanvideo.org/program/ShoreP
Panel 3, 52 min
http://www.c-spanvideo.org/program/ShorePr
Offshore Profit Sharing
Senate Committee Homeland Security & Governmental Affairs | Investigations
Legal experts testified on the findings of a Senate Homeland Security and Governmental Affairs Subcommittee on Investigations report that showed how subsidiary Apple companies in Ireland allowed the corporation to avoid paying U.S. taxes on some of its profits.
RELATED LINK:
www.therealnews.com
Instead of crying over profits that aren't going to be repatriated to the US, how about just slapping a big tariff on iPhones and iPads, and getting the money back that way?
Sure, you won't get the same money, and it might raise prices (though, I suspect it won't, as there's already a huge margin on those things), but the increased employment in the US will cause tax revenues to increase.