So Apple is suddenly held accountable for its financial dealings in Europe. Ireland was one giant tax haven for Apple as it is for a number of other wealthy American companies. Now Apple has been ordered by the European Union to pay $14.5 in back taxes.
The regular avoidance of paying taxes by America’s large companies is just another symptom that capitalism is an amoral system. If those companies are led by people who believe the only “value” to be honored is the bottom line, they will inevitably end up being pig sties of greed and deception.
The most amazing thing to me is that American political conservatives think that our country will be much healthier if we simply lower taxes and regulations for these companies. The conservative reasoning seems to be that, if crooks are a problem, we need to loosen the laws which restrain them.
With logical abilities like that, it is no wonder that American conservatism is in such a shameful, chaotic mess.
Reagan believed in “trickle down” economics, the idea that generating more wealth for the already-wealthy would benefit everyone because that wealth, being spent by the rich people, would trickle down the economic ladder. One of the major flaws in that oft-debunked theory is that wealthy people and companies spend only a small portion of their riches. Huge sums of money are invested in ways that only make the wealthy class wealthier and huge sums are simply stashed in various tax havens around the world. Apple had about $100 billion stashed almost entirely tax-free in Ireland in 2013, according to a Senate investigation.
Capitalism in America has supplanted ethics while itself having no ethical bounds of its own other than “Don’t do any more than you can get away with.”
I suppose it is too obvious to point out that one of the most consistantly immoral capitalists is trump. . .