weco,
Its not just about the taxes, though that is an issue, Foxconn is a 'little/HUGE shop of horrors!'
Apple: made in China, untaxed profits kept offshore
Summary: About two-thirds of Apple's $97.6 billion cash pile is offshore. That’s a lot of money for an American company to keep outside of America.
By David Gewirtz for ZDNet Government | January 26, 2012 -- 04:00 GMT (20:00 PST)
.....
Partisanship aside, certainly Apple has created a lot of jobs over the years. But today, most of the jobs created by Apple are not American jobs, they're sweatshop-style jobs for miserable, overworked workers in China.
According to the New York Times, Apple employs 43,000 people in the United States. That's not an inconsiderable number of people. However, Apple no longer builds its own devices. There was a time when Apple computers were actually manufactured in the United States.
Today, Apple products are built in China. Foxconn City has 230,000 people working to make iPhones and iPads
-- and Presidential candidate Rick Santorum claims more than 500,000 people build Apple products in China.
In other words, Apple provides jobs to more than 10 times more employees outside the United States than in the United States.
But Apple is a U.S. company. We know it is because both the President and the loyal opposition just pointed to it (or to the Dearly Departed, in any case) as a model for American business.
Let's look at that model, shall we? According to the Apple earnings call, the company had a whopping $97.6 billion (yes, billion) dollars in cash at the end of December. Unfortunately, about two-thirds of that money, "about $64 billion," was "offshore" at the end of December, according to Apple CFO Peter Oppenheimer.
complete article:
http://www.zdnet.com/blog/government/apple-made-in-china-untaxed-profits-kept-offshore/11126
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