Rotten Apples

It is terrible enough that Apple produces its 21st-century technology in 19th-century sweatshops overseas. Now the New York Times reports that when it comes to profits, Apple only pretends to be outsourcing overseas, saving themselves $40 billion annually, which would otherwise go to education or deficit reduction. The “offshore” funds are funneled through subsidiaries abroad before landing in government securities in the US. Apple’s supply chain starts with low-wage investment havens and spirals through intermediary countries like Ireland, where two-thirds of its pre-tax income is sheltered, though only one percent of its customers live there.