The US multinational Apple today revealed that it made of profit of almost €16,000,000,000 in the last three months of 2014.
Yes, you read that properly – a PROFIT of sixteen BILLION euro in just over twelve weeks. That’s €1,300,000,000 profit a week. That means Apple makes more profit in a week than it costs to provide water services in the Twenty-Six Counties for an entire year.
For decades Apple has taken very elaborate measures to minimise the amount of tax that it pays on its’ vast profits. These measures include the channeling of profits from ‘subsidiary’ companies from a number of countries into a single regional ‘headquarters’ located in a suitable tax haven.
So when Apple decided to created a combined European, Middle Eastern and African ‘Headquarters’ it came as no surprise that they chose to locate in Cork City to avail of the Dublin government’s corporation tax regime.
The EU is currently investigating the legality of the tax deal that the Leinster House Mafia have given to Apple over the last thirty years – a deal that has seen Apple avoid paying billions of euros in tax that it would otherwise have been required to pay. That’s BILLIONS not millions.
The Apple figures come just a week after Oxfam revealed that the richest 1% of the world’s population control more wealth than every other human being on the planet combined. Never before has the gap between the super-rich and the rest of humanity been so great.
It is a simple fact that the Twenty-Six County’s corporation tax regime is facilitating that ever-growing wealth and power of the 1% in Ireland and across the world.
And it is an equally undeniable fact that the people of the Twenty-Six Counties are being forced to pay ever more taxes to subsidize that same criminal corporation tax regime.
Fine Gael, Fianna Fail, Sinn Féin and Labour all support the current corporation tax regime. In fact Sinn Féin want to extend the same tax rates to the Six Counties – so that corporations across Ireland can get away with paying damn all tax while ordinary families face crippling taxes at every turn.
So the next time you hear a politician from one of these parties asking for your vote ask them when are they going to make the corporations pay their fair share. Until they do Apple and the rest of the corporations will keep on laughing at you and every other Irish worker.