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Obama Administration Refuses To Overturn Import Ban On Samsung Products
Chris453 writes "In August 2013, President Obama issued a veto to an import ban of the iPhone 4S after Samsung won several court battles against Apple claiming that the iPhone 4S violated several of Samsung's patents. A few months ago, Samsung was on the receiving end of a very similar case filed by Apple. The International Trade Commission decided that several of Samsung's phones (Transform, Acclaim, Indulge, and Intercept models) violated Apple's patents, and should face import bans. Despite the similarities between the two cases, the Obama administration today announced that it would not veto the International Trade Commission import ban against Samsung products. The move that could spark a trade dispute between the U.S. and South Korea."
Is Samsung an American company all of a sudden?
Is Apple an American company? At least one Apple exec told US workers to stuff it, as Apple doesn't owe them anything. Apple makes almost everything overseas. Meanwhile, Samsung has US operations (for example http://www.androidcentral.com/samsung-expand-us-operations-two-new-california-facilities ). Stop thinking of Apple as American just because their headquarters are here.
It is precise that, Samsung ISN'T an american company, and therefore doesn't get the veto.
It was very clear when Apple got the veto that something fishy was going on, normally Obamah wouldn't have anything to do with it..
Samsung America has more employees in the USA than Apple does. However, as long as people think of Samsung as a Korean company...
> The only thing Apple makes in the US are profits and vacation plans.
Uh, um . . . patents on bouncy scrolling and slide to unlock.
I'll see your senator, and I'll raise you two judges.
Apple will be quick to inform you that all profits are made by their Irish subsidiary and are not subject to US corporate taxes.
And because the owners/controllers are American they aren't subject to Irish taxes either.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
Apple will be quick to inform you that all profits are made by their Irish subsidiary and are not subject to US corporate taxes.
So why do they pay so much in US taxes?
Umm... they don't. According to their 2012 10-K Annual report Apple paid $12.2B in Federal taxes, this was most at a 35% rate applied to securities that their foreign-based subsidiaries (e.g. ireland-based) owned in the US since these values are not considered revenue. These were cashflows that occurred in the US and could not be avoided. Apple also paid $1.2B in foreign taxes at a lower rate (which lowers their effective US tax rate) and avoided $6B in US taxes all together by keeping funds in foreign subsidiaries. So if it were not for their subsidiary, they would be on the line for almost 50% more in taxes than what they are actually paying into the system.