As the latest revelations about Apple’s tax-dodging tactics make clear, that’s no longer the case. Over the years, aggressive tax avoidance has become the standard practice at many American-based multinationals, particularly at technology companies such as Apple, Google, and Microsoft, which like to portray themselves as being on the side of the angels. Indeed, the only surprise about Tim Cook’s appearance on Capitol Hill today is that it took so long to come about.
According to an ongoing congressional investigation, Apple, by setting up a shell company in Ireland, where it had negotiated a tax rate of two per cent or less, was able to pay minimal taxes on much of its overseas earnings. And by transferring ownership of some of its intellectual-property rights to offshore affiliates, including some in Ireland, which then charged other parts of the company for using them, it was able to avoid paying billions of dollars of U.S. taxes on income that was actually generated in this country, which is where Apple does the bulk of its research and development.
Pathetic ruinous Obama Regime having to look behind every tree to find tax revenue to help offset the massive debt they've created. They need another oil spill so they can bilk billions out of an oil company. Unfortunately Obama has created trillions in debt, and billions doesn't cover the debt they've created.