“Members of the United States Senate are expected to sharply criticize Apple’s global tax tactics while questioning the company’s chief executive, Timothy D. Cook, at a Congressional hearing on Tuesday,” Charles Duhigg and David Kocieniewski report for The New York Times. “Apple, one of the most profitable companies in American history, has shielded billions of dollars from tax collectors around the globe by moving revenue to offshore subsidiaries and taking advantage of tax loopholes, according to company documents and tax experts.”

MacDailyNews Take: Prove it, yellow journalist swine.

Duhigg and Kocieniewski report, “Apple has more than $100 billion in cash assigned to foreign subsidiaries, where it is not taxed by the United States. Some of those subsidiaries, though technically lodged in Europe, are fully controlled by Apple’s executives in Cupertino, Calif.”

MacDailyNews Take: Again, where’s the proof of lawbreaking, you ham-handed hacks?

Duhigg and Kocieniewski report, “When Mr. Cook and other top-ranking Apple executives appear tomorrow before the Senate Permanent Subcommittee on Investigations, lawmakers are expected to question them on Apple’s use of tax loopholes and shell companies to escape paying corporate income taxes on much of its profit.”

MacDailyNews Take: Apple Operations International (AOI) is not a shell company. The existence of AOI does not reduce Apple’s U.S. tax liability.

Duhigg and Kocieniewski report, “Mr. Cook is expected to tell lawmakers that Apple is the largest corporate income taxpayer in the United States, according to a copy of his testimony posted online by the company. Apple, according to that testimony, paid nearly $6 billion in federal taxes last year, and ‘does not use tax gimmicks.’ Moreover, Mr. Cook is expected to call for a sweeping reform of the federal corporate tax code. In particular, he will call for lowering rates on companies moving overseas earnings back to the United States. ‘What he’s asking for is a reward for having gamed the system,’ said Edward D. Kleinbard, the former chief of staff at the Congressional Joint Committee on Taxation, and now a law professor at the University of Southern California.”

MacDailyNews Take: Or, Cook is simply be asking for a sane, logical corporate tax policy, as opposed to the pile of shit buried under a mountain of red tape that the U.S. currently offers those who power the economy and ultimately the obscenely-bloated, unsustainable U.S. federal government itself.

Duhigg and Kocieniewski report, “The Senate Permanent Subcommittee on Investigations, led by Senators Carl Levin, a Michigan Democrat and John McCain, an Arizona Republican, has been investigating technology companies, including Hewlett-Packard and Microsoft, for years over complaints that such firms are taking advantage of an outdated tax code.”

Full article – Think before You Click™here.

MacDailyNews Take: How much have these oh-so-important “investigations” (campaign commercials) cost taxpayers vs. how much, if anything, they have generated in additional tax revenues for these myopic ignoramuses to blow on pet pork barrel projects that are designed primarily to get them perpetually re-elected?

Term limits. (Oops, now we’ve done it – better get the esteemed Senators some new shorts.)

Oh, BTW: The U.S. Senate investigation found no evidence that Apple did anything illegal in avoiding taxes.

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