The iPhone and the end of American jobs

[Bgno64]

Run time: 03:08 https://www.youtube.com/watch?v=nhG3Cba8QdU   Posted on YouTube: September 08, 2011 By YouTube Member: gsmartremarks Views on YouTube: 23   Posted on DU: September 08, 2011 By DU Member: Bgno64 Views on DU: 891

 
Gil Smart says the iPhone is a good but sad metaphor for the state of the American economy.

[spooked911]

1. sadly true

if only those in power actually tried to do something to rectify the overly greedy mentality of US companies

[Dumpster Macaine]

2. Not Surprising

Not surprising from a country founded by traders

[soryang]

3. Center for Public Integrity revealed the Apple tax scam in 1996

A sham subsidiary in an offshore tax haven is used to constructively transfer profits made by Apple America, Inc., offshore. It is entirely fictitious transaction only tax lawyers could love. Here is the solution:

Tax global corporations on foreign earnings and end the Cayman island tax avoidance boondoogle by attributing income from foreign subsidiaries to the American domiciled parent corporation. Legislate constructive rules of income attribution to the American market principal who moves the profit offshore constructively while exploiting the American market where the real money is earned while paying no income taxes.

[proud2BlibKansan]

4. If Apple was the only company doing this, it would be an easy problem to solve.

I also question the statement that the iPhone creates no jobs here in the US because it did create jobs at the Apple store. The one I go to hired new workers when the iPhone came out. I know, not a significant amount of jobs, but certainly not zero jobs.

[Hydra]

6. Service economy

Which is what most of the doomsayers warned about for years. $7.25 per hour, part time, no benefits, no sicks days, no vacation.

Oh, and we'll cut the minimum wage...or we'll have the unemployed work for free selling iphones. Brilliant, isn't it?

[Prana69]

5. Smart by name. Smart by nature. Spot on Gil. n/t