Then of course media everywhere also picked it up and liberals everywhere went wild about how Apple, the most successful computer corporation in America, paid less than 10% taxes. But they were way off. And the mistake should have been easily caught by any junior accountant.
Hmm...no retraction from the NYT?
Apple's 9.8% Tax Rate: Entirely Mind Gargling Nonsense - Forbes
Hmm...no retraction from the NYT?
This really is the most gargantuan ignorance on their part.
The $3.3 billion has nothing, nothing at all, to do with the $34.2 billion: something which any accountant at all could have told them.
To put it simply, a pressure group, the Greenlining Institute, released a report that included that calculation that led to that 9.8% tax rate. Their calculation (and as I say, all the details are in that earlier post) was based on simple ignorance of how the US corporate taxation system works. At least I assume it was ignorance, not mendacity.
Apple's 9.8% Tax Rate: Entirely Mind Gargling Nonsense - Forbes