Apple (AAPL) CEO Tim Cook is going to get raked over the coals by Congress for the company's spectacular tax-dodging techniques.
No one is suggesting that any of these techniques are illegal.
No one is suggesting that Apple is doing anything that any number of other massive multi-national companies aren't doing.
And no one is suggesting that companies should voluntarily pay more taxes than they absolutely have to pay. According to tax expert David Cay Johnston, the Supreme Court "says a company or an individual has an absolute right to pay the minimum in tax the law requires." (But just because you can doesn't mean that it's proper, he adds).
But boy are Apple's tax-dodging techniques effective.
And, boy, do they make clear that the United States (and, ideally, other world governments) have to get together to simplify corporate tax policies. Or else this highly sophisticated tax-dodging will continue to become a bigger and bigger source of corporate profitability.
In preparation forRead More »from Apple’s Tax Dodging: Bigger Scandal Is Congress Knew About It Says David Cay Johnston