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I think it is absolutely HILARIOUS that Apple has been called in to testify by many of the very people that they support politically and financially.  I love how they are called out on the carpet for using current tax law to legally minimize their taxes.  Dont we all do that?  Did you send any extra money to the IRS this year 'just because'?

 

I hope Tim Cook listened to who actually came to their defense and rethinks Apples political alliances:

 

"I'm offended by the spectacle of dragging in executives from an American company that is not doing anything illegal.......If anyone should be on trial, it should be Congress.....Instead of doing the right thing, we drag businessmen and women in here to berate them for trying to maximize their profits for shareholders........Apple has done more to enrich people's lives than politicians will ever do." - Senator Rand Paul

 

Rand Paul Blasts His Colleagues, And Says It's Outrageous That Apple Is Being Harassed About Its Taxes

 Kentucky Senator Rand Paul went on a great rant during today's Senate subcommittee hearing on Apple's offs**** tax practices, slamming his Congressional colleagues for even holding the hearing in the first place. 

 

"Frankly, I'm offended by the tone and tenor of this hearing," Paul said, laying into those who take issue with Apple's tax policies.

 

"I'm offended by the spectacle of dragging in executives from an American company that is not doing anything illegal," he added. "If anyone should be on trial, it should be Congress." 


Apple CEO Tim Cook is testifying before the Senate Permanent Subcommittee on Investigations this morning to defend the company from accusations that it avoids tax payments by shifting profits to offs**** subsidiaries in Ireland. 


Michigan Democratic Sen. Carl Levin, the chair of the subcommittee, said Monday that he has "never seen anything like" Apple's tax "gimmickry."


Paul took issue with the premise of Tuesday's hearing, however, and called on the Senate to stop "harassing" Apple, which he called one of "America's greatest success stories."

"Instead of doing the right thing, we drag businessmen and women in here to berate them for trying to maximize their profits for shareholders," Paul said. "Apple has done more to enrich people's lives than politicians will ever do." 



Read more: http://www.businessinsider.com...2013-5#ixzz2U4GHrM5c





Beam me up, Scotty, there's no intelligent life here......

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Well, whatcha know, Apple was cleared of wrongdoing in this issue.  Remember Michigan Democratic Sen. Carl Levin, the chair of the subcommittee, said that he has "never seen anything like" Apple's tax "gimmickry."

 

Apple's tax strategy passes SEC inspection

 

....In a letter, dated September 5 and addressed to Apple Chief Financial Officer Peter Oppenheimer, the US Securities and Exchange Commission said it completed its review of the company's latest filing (via AllThingsD), and would not be taking action at this time.....

 

http://news.cnet.com/8301-1357...sses-sec-inspection/

 

U.S. companies led by General Electric Co. (GE) and Pfizer Inc. (PFE) stockpiled an additional $187 billion in untaxed overseas profits over the past year, boosting their offs**** holdings by 18.4 percent, according to data compiled by Bloomberg.

The 70 U.S.-based companies studied hold $1.2 trillion in profits around the world. GE and Pfizer have built up the most money outside the U.S., with $102 billion and $63 billion respectively, according to securities filings. Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp. (MSFT) were among the companies that increased their accumulated overseas profits by more than 40 percent in 2011.

http://www.bloomberg.com/news/...fs****-accounts.html

 

I don't think Jeffery Immelt will be grilled anytime soon. I suspect that if George Soros were to invest in coal mines and General Electric were to push steam turbines and boilers, Obama would be claiming that he, all-by-himself, had solved the global warming problem.

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