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Former New Hampshire Senator defends Apple
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May 28, 2013, 02:44 PM
 
A former New Hampshire Senator, John Sununu, is defending Apple's exploitation of tax laws in a Boston Globe editorial published on Monday. Sununu points out that none of Apple's actions have been illegal, only in line with what other multinational corporations would do, which is minimize taxes owed wherever possible. Instead, Sununu blames the billions companies like Apple are stashing offshore on Congress failing to change US tax laws.

"By refusing to feel guilty about the results produced by a 30-year-old corporate structure, [Apple CEO Tim] Cook placed the responsibility for the taxes Apple pays where it belongs: on the US Congress," Sununu writes. "And Congress, being Congress, took the bait. Amid hearings of the House tax-writing committee he leads, Representative David Camp bluntly declared, 'The tax code is a mess.' John McCain observed that the Apple situation 'reflects a flawed corporate tax system.' [Carl] Levin closed his own hearing by saying, 'It's unfair. It needs to change.'"

Sununu adds however that the issue is complex, since Congress has to balance lures to repatriate foreign cash versus the funding demands of the US government. Apple lobbyists have been pushing US politicians to enact a "tax holiday," which would briefly lower the US' corporate tax rate so that Apple (and other corporations) would lose less in repatriating their cash.
( Last edited by NewsPoster; May 28, 2013 at 04:07 PM. )
     
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May 28, 2013, 04:43 PM
 
Thank goodness, I'm a New Hampshire resident, Apple fan by, and Apple stock holder. I have no problems with Apple's way of life. As stated, it is doing everything in its legal power to not pay excessive taxes anywhere on the planet. You would do the same thing. Don't kid yourself or lie. Period.

So, I'm glad to hear that one of our former Congressman is speaking out to defend the crazy tax situation in the USA. I'm living in Germany and have learned that Ireland is a country with laws that allow companies located there WITHOUT a board of directors also located there to pay no taxes. So, period. By the law. If Apple only sold products in the USA, then there would be no issue. But, it sells internationally and in the EU, it is a company based in Ireland.

How many USA companies are incorporated in Delaware. Every ask yourself why?
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Stuke
     
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May 28, 2013, 05:03 PM
 
Why, no. I never did ask myself why.
How many USA companies are not incorporated in Delaware? Ever ask yourself why?
Regardless. Taxes (and the avoidance thereof) are not everything. There is a law of diminishing returns when attempting to take every possible tax break available. Pick your battles and do your best.

Infrastructure costs a lot of money. Thankfully, no individual must carry the burden alone. Seems like some folks think nothing is important,.. until it is!

I don't take every possible tax break available, primarily because the time is not worth the "savings" to me. I feel comfortable with that decision, and won't whine about it in retrospect.
     
   
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