NY Times Apple Tax Article Flawed

bonch writes "Forbes contributer Tim Worstall points out that the NY Times article claiming Apple pays less than 10 percent of its profit in taxes was based on a flawed assumption of the corporate tax system. The 9.8% figure came from Greenlining Institute, who compared Apple's 2011 profits to taxes calculated according to 2010 profits. In the corporate tax system, estimated quarterly tax payments are made based on the previous year's profits until actual profits are calculated at the end of the trading year, when the balance is then paid to the IRS."

Comments

Re:So what?

[Surt]

Almost none of our taxes go to that as it is. The rate is something like 0.7%, and generally that money is targeted at the kids who are relatively innocent victims of those mothers, in the hope that they might turn things around in the next generation.