New York (CNNMoney) - Apple executives defended the company's tax strategy on Capitol Hill Tuesday, claiming that it pays one of the highest effective tax rates of any major corporation.
The Senate called a hearing Tuesday to examine the iPhone maker's strategy of shifting income to an Irish subsidiary to avoid paying U.S. taxes. Apple officials said the company shifted money to its overseas operations, such as those in Ireland, not to avoid taxes but because of the growth of Apple's sales overseas.
Can we see anything to support those claims, or will the gop not be interested? nothing will happen on this
the new leftist mccarthyism in action. more leftist intimidation and demonization tactics for all to see. and then they wonder where all the jobs are!
if what apple is doing is illegal then prosecute them in a court of law. if not then apple should tell them to go screw and to stop interfering with the operation of their company using the resources of the government, to which apple paid $6 billion last year.
If the government isn't happy with the $6 billion in taxes it received from Apple last year (of course not counting the billions and billions their employees paid in taxes as well thanks to their employer), maybe Apple should consider packing up and leaving the USA for more friendly places on the planet? In case these fools don't know it, Apple does not exist for the purpose of funding the federal government!
When on earth will Congress get some meaningful work done.
They'll be on vacation very soon.
You know, they worked so hard since their last vacation about a month ago.
I think I'll run for office and make close to $200,000 a year for doing nothing and not worry about getting a pink slip.
More doublespeak, you either pay high taxes, or your avoiding it, one or the other.
It is time to grill these tax-evading idiots. While this reader and I pay 38% why not they pay. Thuggish GOP nasty idiots. This nation needs to change legal system too... Flaws.
These guys are as disgusting as the 501(c)(4) dark money launderers. Hang 'em first and ask questions later. After all, isn't that how congressional hearings are supposed to work anyway? Then, pass legislation to make this kind of tax haven business illegal. Either you're an American company or you're not. Time to choose.
Highest effective rates of any corporation? Some reports have it at 0.05%. FIVE HUNDREDTHS OF A PERCENT. Of course, maybe that is one of the highest considering all the reach-around gladhanding that our Congress and politicians see fit to give to corporate 'Murika via the tax code loopholes and preferential treatment THAT NEVER RESULTS IN GROWTH OF THE MIDDLE-CLASS OR MIDDLE-CLASS WAGES.
The GOP will protect them; they always do.
"Tell me what Apple has done that is illegal?" – Sen. Rand Paul
Technically what they're doing is corporate tax evasion Sen. Aqua Buddha.
No wonder they are rich. And, all their products are made in CHINA. So much empathy for the American worker. I would NEVER purchase an Apple product.
Obama is an extension of bush! With higher taxes ( but we love him for skin color) democrats are the real racists. They would vote a movie star in for president. kkk came from democrat party. A republican freed the slaves. But less informed people are easy to trick. Do some real research
Apple can fight this if they choose, but they are certain to lose.
Even the critics of Apple at the hearing did not claim that it was doing anything illegal with its tax strategy, they were only saying that the way the current tax system is now set up was bad policy.
If this is true, why the dog and pony show with Apple? If it is bad policy, change the tax code–don't demonize a company for doing what any of us would do within the law.
Why isn't Congress working on reforming the tax code? It is the one thing citizens on both sides agree on. They should also work on ending subsidies for billion dollar corporations. Tax policies and multinational corp are sucking this country dry.
@just sayin – the new leftist mccarthyism in action. more leftist intimidation and demonization tactics for all to see. and then they wonder where all the jobs are!
You are too funny. So now John McCain is a leftist?? Whouda thunk?