Article 24NPG Apple's tax-dodging offshore billions are sunk into Treasury Bills that pay out using Americans' taxes

Apple's tax-dodging offshore billions are sunk into Treasury Bills that pay out using Americans' taxes

by
Cory Doctorow
from on (#24NPG)

Treasury_bills.jpg

Apple -- which is one of the multinational poster children for tax dodging, along with Google, Amazon, Ikea and others -- has billions of dollars "offshore" and in theory they can't bring that money into the USA without paying tax on it; but thanks to some fancy accounting, much of that money is sunk into US Treasury Bills (floated by the government Apple is starving through tax evasion), and the US taxpayers pay Apple, about $600M so far. (more")

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