Apple is currently being bullied by a Senate committee for their ability to cleverly use the tax code to its advantage. Evidently, the company set up subsidiaries in Ireland and with a stroke of good Irish luck, they’ve saved a ton of cash. Who can blame them? And it’s not like something like this hasn’t been done before. GE paid zero taxes and they did that while their CEO, Jeffrey Immelt, served as head of President Obama’s Council on Jobs and Competitiveness.
While several Senators describe the Apple arrangement as a “scheme,” Senator Rand Paul came to the company’s defense calling the hearing “theater of the absurd.”
Senator Paul is right.
Let’s see—a big corporation with super smart attorneys and accountants figure out a way for Apple to pay less in federal taxes. Apple is an incredibly successful company. Wouldn’t it make sense to try to woo them and encourage them to keep all their business in the United States with a favorable tax climate instead of bullying them and driving them off with a crazy bad tax code and a corporate tax rate that’s not competitive in the least? Why doesn’t the Senate spend its time concentrating on fixing the problem instead of penalizing companies for setting up shop here?
Right now, Americans are more wary than ever about the IRS. Isn’t it time to just eliminate the IRS and have a fair or flat tax? It may not be perfect, but anything is better than what we have now.
Hopefully, Rand Paul will take this mission and run with it. We need to lure businesses to the United States instead of working to drive even American based companies out of the country. Most of these businesses would love to stay in the United States, but the business environment is so unfriendly that many move parts of their businesses (especially manufacturing) overseas.
This problem can easily be fixed if one of our so called leaders would just grow a pair and make it happen. That’s what leadership is all about. I think Rand Paul is the right man for the job. He is clearly a leader who has no problem speaking out even when he knows some of his views may be unpopular.
We should all encourage Rand Paul to keep up the charge, and we should demand the Senate to stop picking on U.S. companies who aren’t doing anything illegal. Instead, we should insist that the Senate get creative and find ways to keep and grow U.S. corporations.
I always personally strive and encourage others to buy American. The way things are going lately, my mission is becoming more and more difficult.
Instead of piling on Apple for getting creative and aggressive with their tax toils, these Senators should fill their time with finding ways to keep Apple and companies just like it solidly at home instead of grandstanding with meaningless hearings.