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. Links 28/7/2014: New Linux RC, Plasma 5 Live in Kubuntu

    Links for the day



  2. Links 27/7/2014: KDE 4.14 Beta 3, KDE 4.14 Beta 3 Released

    Links for the day



  3. Apple and Microsoft Are Proprietary Software Companies and the Media Should Stop Openwashing Them

    New examples where proprietary software giants are characterised as FOSS-embracing and FOSS-friendly by gullible or dishonest 'journalists'



  4. Bloomberg's Microsoft Propaganda

    Bloomberg delivers 'damage control' and PR ahead of the layoffs announcement; Microsoft uses Nokia to hide it and Bloomberg helps Microsoft by radically modifying headlines



  5. Frequency of Browser Back Doors in Microsoft Windows is Doubling

    The vulnerabilities which Microsoft tells the NSA about (before these are patched) are significantly growing in terms of their numbers



  6. FUD Entities Entering the FOSS World

    Symantec enters the AllSeen Alliance and Sonatype is once again trying to claim great insecurity in FOSS due to software licensing



  7. Groklaw Back in the Wake of ODF in the UK?





  8. Links 26/7/2014: New Wine, Chromebooks Strong Sales

    Links for the day



  9. Links 25/7/2014: GOG With GNU/Linux, Ubuntu 14.04.1 LTS

    Links for the day



  10. Links 24/7/2014: Oracle Linux 7; Fedora Delays

    Links for the day



  11. Valerie Strauss Explains Why Gates Foundation's Lobbying for 'Common Core' (Privatisation) is a Swindle That Makes Microsoft Richer

    Continued criticism of the Gates Foundation's lobbying and masquerading, with more journalists brave enough to highlight the corruption



  12. USPTO Officially Sets New Guidelines to Limit Scope of Software Patents in the United States

    Even patent lawyers finally acknowledge that the incentive to file software patent applications has been reduced, as the scope of patents on software has been noticeably narrowed and they are harder to acquire, let alone enforce in a courtroom



  13. UK Government Adopts OpenDocument Format (ODF) and Microsoft Already Attacks the Government Over It, Showing Absolutely No Commitment to Open Standards

    Only "Microsoft as the standard" is the 'standard' Microsoft is willing to accept, as its response to the Cabinet Office's judgment reveals



  14. Microsoft Layoffs of 2014

    Another quick look at Microsoft's horrible state of affairs and why it has virtually nothing to do with Nokia



  15. Links 22/7/2014: Linux 3.16 RC 6, New UberStudent

    Links for the day



  16. Links 20/7/2014: Jolla in India, Mega Censored in Italy

    Links for the day



  17. Longtime Mono Booster Joins Microsoft-linked Xamarin

    Jo Shields almost joins Microsoft, settling instead for its proxy, Xamarin



  18. Linux Foundation Welcomes Patent Aggressor Red Bend Software

    The Linux Foundation's AllSeen Alliance welcomes as a member a company that uses software patents to sue Free/Open Source software



  19. Matt Levy From Patent Progress (and CCIA) Does Not Really Want Patent Progress

    Matthew ('Matt') Levy moved into a foe of patent progress last year, but he still runs a site calls Patent Progress, in which he diverts all attention to patent trolls (as large corporations such as Microsoft like to do)



  20. Attacking FOSS by Ignoring/Overlooking Issues With Proprietary Software

    The biasing strategy which continues to be used to demonise Free/Open Source software (FOSS) along with some new examples



  21. Links 19/7/2014: CRUX 3.1 is Out, CyanogenMod Competes With Google Now

    Links for the day



  22. Microsoft's Massive Layoffs Go Far Beyond Nokia; Nokia's Android Phones Axed by Microsoft's Elop

    Microsoft's rapid demise and permanent exit from Nokia's last remaining Linux platform (after Microsoft had killed two more)



  23. Patents on Software Already Being Invalidated in Courts Owing to SCOTUS Ruling on 'Abstract' Patents

    The Federal Circuit Appeals Court has just "invalidated a software patent for being overly abstract," says a patents expert



  24. OpenSUSE 'Community' is Crumbling, AttachMSFT Killed SUSE's Potential (Except as Microsoft Tax)

    Not much too see in the land of SUSE and Attachmate, or formerly the company known as Novell



  25. Links 18/7/2014: Slackware Turns 21, Spotify Switches to Ubuntu

    Links for the day



  26. Links 16/7/2014: Manjaro 0.8.10 Third Update, SIA Migrates to Red Hat

    Links for the day



  27. Microsoft's Latest Round of Massive/Bulk/Large-scale Layoffs

    Microsoft boosters are preparing 'damage control' pieces ahead of massive layoffs at Microsoft



  28. Secrecy Allows British Government to be Manipulated by Microsoft for Spyware Behind Closed Doors

    Dependence on malicious software from NSA ally Microsoft is highly dependent, at least in Britain, on government secrecy and vain refusal to comply with Freedom of Information (FOI) requests



  29. Software Patent Applications Already Being Rejected in the US Owing to SCOTUS Ruling, Some Patent Lawyers Are Fuming

    Good news on the software patents front as the USPTO starts rejecting software patent applications, based on patent lawyers' words



  30. Links 15/7/2014: New Plasma, Google Announces Project Zero

    Links for the day


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