Tuesday May 21, 2013

Apple Dodged Paying Billions In Taxes, Subcommittee Says

You know, it probably wasn't a good idea to send Tim Cook to give testimony to congress after all. Apple is the poster boy for tax dodging and the congressional subcommittee is salivating at the chance to get its hands on that cash.

Apple is an American success story," the report reads. "Today, Apple Inc. maintains more than $102 billion in offshore cash, cash equivalents and marketable securities (cash). Apple executives told the Subcommittee that the company has no intention of returning those funds to the United States unless and until there is a more favorable environment, emphasizing a lower corporate tax rate and a simplified tax code.