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Rand Paul on a rant

May 23, 2013

The Senate Permanent Subcommittee on Investigations summoned Apple’s CEO to Washington, basically because Apple minimized its US tax obligations in ways that are legal under the US’ overly complex corporate tax code. It struck me as a fairly transparent bit of grand-standing; or what you should expect from the Congress, in other words.

Senate Subcommittee Accuses Apple of Tax Gimmicks

Apple avoids billions in U.S. taxes through creative, unique tax structures, and even negotiated a special corporate tax rate of less than 2% with the Irish government, according to a report released by the Senate Permanent Subcommittee on Investigations, ahead of its Tuesday hearing featuring CEO Tim Cook.

Rand Paul took his colleagues to task for their investigation and rightly so.


Update: Thomas Sowell chimes in with his usual plain talk.

Federal Government Exercises Its Bullying Pulpit

We have truly entered the world of “Alice in Wonderland” when the CEO of a company that pays $16 million a day in taxes is hauled up before a congressional subcommittee to be denounced on national TV for not paying more.

Apple CEO Tim Cook was denounced for contributing to “a worrisome federal deficit,” according to Sen. Carl Levin — one of the big-spending liberals in Congress who has had a lot more to do with creating that deficit than any private citizen has.


Update 2: A funny cartoon (via Carpe Diem).

Apples-taxes

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