Tim Cook Testifies Before Senate Subcommittee - Video

[tonymacx86]

VIDEO STREAM:
http://www.hsgac.senate.gov/subcomm...e-profit-shifting-and-the-us-tax-code_-part-2

 

[shibirian]

Wow, nowadays you have to testify making money by the rules--THEIR rules!

 

[munzie]

Apple recently sold a round bonds to raise cash rather than bringing money back home from overseas. Why? Because it was economically cheaper to pay interest on bond funds rather than to pay tax on offshore money. Yeah it's messed up, but it is also the best business decision. Maybe the Senate doesn't realize it could fix the tax code?

 

[sirretv]

Does apple do a lot worse than microsoft?

 

[macmodifier]

Thanks Tony for posting this. It really shows Apple behind the curtain.


You know what I think is funny though. What they are doing is wrong, but I get it, why dump the money into a broken government system

What is also funny is, we are kind of doing the same thing as Apple is doing but on a very very small scale. We work around the rules and build Hackintoshes lol

Apple works around the rules and keeps european product sales money outside the country to avoid BILLIONS in repatriation taxes lol