Apple’s profits more than quintupled in the last five years, but their tax burden has risen much more slowly.  Last year, just 9.8% of their profits went to taxes.   ”By comparison,” writes economist Marty Hart-Landsberg, “Wal-Mart was downright patriotic — paying a tax rate of 24 percent.”

How does the company do it?  Hart-Landsberg summarizes the New York Times: “The answer is tax loopholes and a number of subsidiaries in low tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands. ”  More details at Reports from the Economic Front.

Lisa Wade is a professor of sociology at Occidental College and the author of Gender: Ideas, Interactions, Institutions, with Myra Marx Ferree. You can follow her on Twitter and Facebook.
Related Posts Plugin for WordPress, Blogger...