Protestors Target Apple Tax Practices In Saturday 'Dance-In' Demonstrations
Protestors are set to visit Apple stores Saturday to oppose the company's federal tax practices.
Apple doesn't pay its fair share of taxes, and now the technology company is trying to get another tax break, says grassroots group US Uncut, which has planned a series of "dance-in" protests at Apple stores across the country. The group takes issue with Apple's support of a broader effort that would allow corporations to pay a low tax rate on profits they take home from overseas tax havens, according to a US Uncut release.
That corporate effort, known as the "Win America Campaign," would save Apple $4 billion, and overall would save corporations $80 billion in taxes that otherwise might have gone to the federal government, US Uncut says.
Technology companies have come under scrutiny for the various ways they store profits overseas. By funneling profits through tax havens like Ireland and the Netherlands, Google, Microsoft and other companies use a system that overall costs the U.S. government about $60 billion every year, Bloomberg News reported last year.
Finding ways to encourage companies to bring these profits home has not been easy. The "Win America Campaign," which presents itself as one such effort, would amount to "tax cheating" because it would allow companies to pay a low rate, US Uncut says.
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First Posted: 06/ 4/2011 11:17 am Updated: 08/ 4/2011 5:12 am