EditorsAbout the SiteComes vs. MicrosoftUsing This Web SiteSite ArchivesCredibility IndexOOXMLOpenDocumentPatentsNovellNews DigestSite NewsRSS

05.07.13

US Entities Microsoft and Apple Stop Paying US Tax, Borrow Money Instead

Posted in Apple, Finance, Microsoft at 4:30 am by Dr. Roy Schestowitz

Stopping contribution to their home country

Stop signs

Summary: The financial games of Microsoft and Apple culminate in more loan-taking manoeuvres, which give legs to speculations and rumours

ARE Microsoft and Apple good for the US economy? It depends on whose economy. Microsoft made some few Americans very affluent, but those people and the company they work(ed) for, Microsoft, do not pay tax, or only pay negligible amounts in tax. Apple, to a certain degree, is the same.

The other day we showed 'legalised' tax avoidance using corporate tricks that lobbyists make "legal". We showed how Microsoft moles in government let Microsoft avoid billions in tax, leaving others to fill the fiscal gap. This is robbery, technically speaking, but nobody will be sent to jail for it because the legal system is controlled by those with a lot of money,

According to this report as well as others, Apple keeps much of its money abroad, despite being US-based. With an estimated 22-30 trillion dollars (global aggregate) in offshore tax havens, this too deserves criticism. No wonder the richest families continue to gain trillions in value every year while others struggle to earn enough money for food and shelter. Microsoft has been doing this for years as well and it still does it.

Microsoft Corp. (MSFT), one of four U.S. companies with a top credit rating from Standard & Poor’s and Moody’s Investors Service, sold $2.67 billion of bonds with a portion of euro-denominated debt paying a record-low coupon.

The world’s largest software maker issued bonds in euros for the first time, raising 550 million euros ($715 million) with 20-year, 2.625 percent notes, the lowest coupon among similar-maturity, non-financial corporate bonds sold in that currency, according to data compiled by Bloomberg. The debt pays 55 basis points more than swaps.

Microsoft has debt to repay. We wrote about this in many posts for over half a decade. Contrary to common myths, Microsoft is not always profitable, but it is always corrupt, at times with its finances, too.

“One strategy that Microsoft has employed in the past is paying for the silence of people and companies. Charles Pancerzewski, formerly Microsoft’s chief auditor, became aware of Microsoft’s practice of carrying earnings from one accounting period into another, known as “managing earnings”. This practice smoothes reported revenue streams, increases share value, and misleads employees and shareholders. In addition to being unethical, it’s also illegal under U.S. Securities Law and violates Generally Accepted Accounting Practices (Fink).

2002 story about Charles Pancerzewski, Microsoft

Share this post: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Reddit
  • co.mments
  • DZone
  • email
  • Google Bookmarks
  • LinkedIn
  • NewsVine
  • Print
  • Technorati
  • TwitThis
  • Facebook

If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

Pages that cross-reference this one

What Else is New


  1. Microsoft Loves Linux to Death and Still Tries to Kill GNU/Linux

    Microsoft's relentless attacks on GNU/Linux and Free software in general (even if it runs on Windows) are so evident that claims of 'love' remain laughable at best (if not infuriating)



  2. Censorship, Self-Censorship and Intimidation Now the Modus Operandi at EPO

    The European Patent Office has ceased even trying to pretend that it respects human rights, including the right to free speech



  3. Patent Practitioners: "The Unitary Patent Might be Able to Open the Floodgates for Software Patents in Europe"

    The EPO-backed Unitary Patent scheme threatens to bring software patents to Europe and along with them a lot of patent trolls from all around the world (especially the United States)



  4. Microsoft Lies About Vista 10 and Increases Microsoft Surveillance (Even Beyond Vista 10 and Into Android, Vista 7/8)

    Windows surveillance expands retroactively, making its way into platforms other than Windows and also expanding to predecessors of Vista 10



  5. Another Suicide at the EPO, Fifth by Our Count

    Yet another EPO member of staff has just committed suicide, leading to the inevitable question: how many people need to die before Battistelli and his minions are out of the Office for good?



  6. Links 27/8/2015: ownCloud Desktop Client 2.0, Red Hat Downgraded

    Links for the day



  7. Microsoft-connected Mesosphere Threatens to Eliminate Free Software in the Datacentre

    Hiding behind a misleading 'open' label while actually backed by Microsoft (and based on new rumours may join Microsoft), Mesosphere wishes to eradicate Free and back doors-free software in large datacentres hosting a lot of physical and virtual servers



  8. Microsoft Aggression Against GNU/Linux Amid Vista 10's Failure

    A look at the recent assault on GNU/Linux in Munich and the likely cause for this assault (in such a timely fashion, too)



  9. Message to LinuxCon Regarding Microsoft: “It is Necessary to Get Behind Someone in Order to Stab Them in the Back.” -Sir Humphrey Appleby

    Jim Zemlin, executive director of the Linux Foundation, helps Microsoft gain influence in the Foundation after payments are received



  10. Market Share Estimates Confirm That Vista 10 Failed in a Major Way

    Confirmatory evidence that Vista 10 is failing in the market about a month after its much-hyped (paid coverage) release



  11. When Microsoft, the Master of Patent Trolls, Complains About Trolls

    Possibly the world's biggest patent abuser and monopolist, which also creates many patent trolls (including by far the biggest one), takes on a far smaller abuser in Court



  12. Letter Signed by Two German Officials Becomes a Microsoft Weapon of Propaganda

    Microsoft and its minions refuse to leave Munich alone, even though the vast majority in Munich are perfectly happy with Free/libre software



  13. Links 25/8/2015: Linux Kernel 4.2 Final RC, KDE Ships Plasma 5.4.0

    Links for the day



  14. Sabine Pfeiler and Otto Seidl Should Take Note as Russia -- Like China -- is in the Process of Banning Microsoft Windows for Security Reasons

    A look at a strange suggestion, signed by Sabine Pfeiler and Otto Seidl, who suggest going back to Microsoft which is basically a spyware company now



  15. Microsoft Windows Leads to Espionage and Blackmail: Latest Examples

    Another news overview, detailing high-profile examples of high-cost Windows deployments (including the cost of litigation and settlement)



  16. Links 23/8/2015: BcacheFS Benchmarks, Blackphone 2

    Links for the day



  17. Links 22/8/2015: Chromebook Gains, GNOME 3.18 Clues

    Links for the day



  18. Alice v. CLS Bank (the Alice Case/§101) Continues to Crush Software Patents in the United States

    Patent scope in the United States continues to be narrowed down as more software patents get their wings clipped



  19. Company of Hype and 'Fanbois' Continues Its Patent Attacks on Android/Linux

    Apple's attacks on Android (using bogus patents) may be soon be escalated to the US Supreme Court (SCOTUS)



  20. EPO Corruption of Patent Boundaries: Business Methods and Algorithms Patented

    How the European Patent Office (EPO) not only turns a blind eye to European law while patenting or granting patents on software but also openly advocates this now



  21. Who's Obsessing Over Patent Trolls in Latest 'Reform' Efforts? Larger Patent Trolls Such as Xerox

    Response to claims that the patent problem is being tackled by focusing on patent trolls and their favourite courts in the Eastern District of Texas



  22. Links 20/8/2015: Fedora 24 Plans, Ubuntu Phones in India

    Links for the day



  23. Blackmail and Lies From the Press and the Government of New Zealand Attempt to Sell to the Public a Deal That Broadens Patent Scope

    Corporate conquest or takeover of New Zealand culminates in empty promises from government officials and blackmail against citizens of New Zealand, especially the country's dairy industry



  24. Vista 10 Turns PCs Into Zombies: Microsoft to Remotely Delete Software From Windows, Like Amazon Deleted Books From Kindle

    Microsoft allows itself to remotely delete software from Vista 10 (not just Microsoft's software), as revealed by the mainstream media not too long after the failed launch (poor adoption so far)



  25. Black Duck Still Destroying, Lying, Rewriting History

    Black Duck is still carrying water for Microsoft and pretends to be working for 'Open Source', despite doing it much harm and doing nothing that is actually Open Source



  26. Ashley Madison Disaster Apparently the Fault of Microsoft Windows

    New reports serve to show that Ashley Madison's data which got leaked includes complete dump of corporate Windows passwords



  27. After OOXML Propaganda, New Assocham Propaganda Calls for Back Doors, Spyware and Other Malicious, Self-defeating Traps Inside Government of India

    Assocham is showing its true colours yet again, lobbying for the interests of foreign companies and endorsing serious abuse or compromise of India's national sovereignty



  28. Links 19/8/2015: LinuxCon Everywhere

    Links for the day



  29. Links 18/8/2015: Linux 4.2 RC7, IBM's LinuxOne

    Links for the day



  30. Patents Roundup: Patent Reform, Google's 'Startups' Ploy, JDate, Fitbit, Cisco, and UPC in the UK

    A collection of news stories about patents, accumulated over the past week or so


CoPilotCo

RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

CoPilotCo

Recent Posts