The Economic Policy Institute ( EPI ) has released important research about the economy in the past few weeks. Here's a look at some of the key pieces it uncovered about the U.S. economy.
Apple CEO Tim Cook is appearing before the Senate Permanent Subcommittee on Investigations today to answer charges that his company has avoided paying billions of dollars in taxes through the use of overseas tax shelters and loopholes in the corporate tax code. An investigation by the subcommittee found that Apple has shifted tens of billions of dollars of two subsidiaries in Ireland, while claiming that neither subsidiary is a tax resident of any country.
Apple (like many giant, multinational corporations) has been avoiding paying the taxes they owe to the country by setting up foreign “subsidiaries” in tax-haven countries and moving jobs and profit centers out of the country. They have accumulated billions upon billions of dollars in these tax havens. Now they want a special tax break to reward them for doing that.
As we've written here , Apple's record-breaking success in selling iPhones, iPads and iPods have come at a terrible cost .Take a minute to sign our petition to Apple’s CEO Tim Cook. Tell him to ensure that people integral to Apple’s success—workers who manufacture Apple’s electronics—are treated fairly.
Outraged at the inhumane treatment of workers in China who make iPads, iPhones and other Apple products, protesters visited a half-dozen Apple stores around the world yesterday to deliver petitions calling for reforms in the working conditions at factories run by Apple’s suppliers, accroding to Democracy Now !
More horrors out now from the Chinese serf-labor system involved in creating Apple products like iPads and iPhones. It turns out many of the workers churning out millions of the devices in unendurable conditions at Foxconn and other factories are also forced laborers as young as 16.
Hours after Apple released its first quarter earnings, which showed a mind-blowing 44.7 percent profit , The New York Times published another in a series of articles illustrating some of the reasons behind Apple’s profit margin. Describing the conditions in which Chinese workers assemble iPhones, iPads and a panoply of Apple products, the report states :
A much-discussed report in the Sunday New York Times on why iPhones are made in China highlights the transition of Apple guru Steve Jobs who, a few years after Apple began building the Macintosh in 1983, bragged it was “a machine that is made in America.” Today, millions of Apple products like iPhones, iPads and Kindles are made in China sweatshops like Foxconn.
Stumping for president, Republican candidates have finally figured out that the public cares more about job creation than deficit reduction. But their solutions involve luring corporations back to this country from overseas by eliminating regulatory policies that could make working conditions here a lot more similar to those offshore. A recent Jon Stewart segment shows just what that would entail.
Go to any gathering, and you’ll find nearly every person carrying an iPhone or an iPad, despite the Apple Computer’s dismal record on labor practices. Apple executives must be laughing all the way to the bank — their Swiss bank, that is.
It’s been four years since low-wage workers got a raise. Sign the petition to tell Congress it’s time to raise the minimum wage.
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