+ Reply
Results 1 to 8 of 8

Your favorite Apple, iPhone, iPad, iOS, Jailbreak, and Cydia site.


Thread: Apple CEO Tim Cook Talks IP, Taxes on Capitol Hill

is a discussion within the

Mac News

forums, a part of the

General Apple/Mac

section;
...
  1. #1
    MMi Staff Writer Michael Essany's Avatar
    Join Date
    Aug 2009
    Location
    Valparaiso, Indiana
    Posts
    3,727
    Thanks
    17
    Thanked 1,479 Times in 565 Posts

    Default Apple CEO Tim Cook Talks IP, Taxes on Capitol Hill


    Apple Chief Executive Tim Cook testified Tuesday at a Senate hearing that largely probed how Apple uses Irish subsidiaries to allegedly shelter billions of dollars in income from U.S. taxes.

    Cook, however, strongly defended Apple's tax practices. "We pay all the taxes we owe — every single dollar," Cook told members of the Senate's Permanent Subcommittee on Investigations. "We not only comply with the laws but we comply with the spirit of the laws," he said. "We don't depend on tax gimmicks."

    Broadening the discussion, Cook addressed the United States' intellectual property protection environment and pointed to weaknesses.

    "I actually think," Cook asserted, "that we require much more work on IP in this country... The U.S. court system is currently structured in such a way that it's currently difficult to get the protections a technology company needs, because the cycle is very long."

    "For us, our intellectual property is so important to our company," Cook argued. "I would love to see the system strengthened to protect it."

    The panel's chairman, Sen. Carl Levin (D-Mich.) praised Apple's success and even boasted of using an iPhone, but insisted that this reality excuse the company's tax-related tactics, which purportedly helped Apple avoid paying an estimated $9 billion in U.S. taxes in 2012.

    "Apple executives want the public to focus on the U.S. taxes the company has paid, but the real issue is the billions in taxes it has not paid, thanks to offshore tax strategies whose purpose is tax avoidance, pure and simple," Levin said.

    According to the LA Times, Sen. Rand Paul (R-Ky.) staunchly defended Apple, saying: "Frankly, I’m offended by the tone and tenor of this hearing...I’m offended by a $4-trillion government bullying, berating and badgering one of America’s greatest success stories... Tell me what Apple’s done that is illegal. They’re doing what their shareholders ask, which is to maximize profit."

    Source: LA Times

  2. #2
    iPhone? More like MyPhone
    Join Date
    Dec 2012
    Posts
    105
    Thanks
    8
    Thanked 18 Times in 14 Posts

    I can't believe I'm saying this but way to go Sen. Rand Paul.

    Is Apple doing anything illegal? No.

    Then why are we having a hearing? The Senate thinks they should have moved their profits into the U.S. to pay the most possible in taxes.

    Why not just close the loophole allowing such an action by a U.S. company? Because that would hurt U.S. business and deter expansion into new markets and subsequently decrease our exports.

    How much tax revenue was wasted to target Apple for highlighting the fact that Apple did not actually do anything illegal? A lot.
    Last edited by REMED1AL; 05-21-2013 at 02:06 PM.

  3. #3
    What's Jailbreak? thazsar's Avatar
    Join Date
    Jan 2010
    Location
    Dallas, TX
    Posts
    4,171
    Thanks
    434
    Thanked 2,080 Times in 936 Posts

    Tim Cook could prolly just write a $9 billion check right now but the government will look for something else to tax. I'm not sure 'money' is the big concern for Apple, as opposed to 'principle.'

  4. #4
    Livin the iPhone Life Carvensno's Avatar
    Join Date
    Oct 2010
    Posts
    1,857
    Thanks
    2,546
    Thanked 1,657 Times in 697 Posts

    I wrote this yesterday on a diff news. Just trying to make Apple an EXAMPLE!!! Most of these fortune 500 companies all filter there money the same way!!

    Theres 2 sides to these stories. I saw this one dateline or one of those shows. Yes these companies are filtering money thru 12-14 countries to cycle there money thru and they are costing us between 50-75 billion in lose taxes to the government. BUT our government has created these loop holes and is legal for them to do. NOW guess who created these loop holes??? Your elected officials that you voted for congress and HOR And why were these loop holes created? because these congress and HOR officials are on the boards with these top companies. And guess what happens now that they created these loop holes and keep them open? There pockets are getting super fat with money!!! Go figure????? HUH????? Our government elected officials don't give a crap about the people, there only there for themselves to have power and control and why?? GREED!!!!!

    Also in that show talking about googles money? the last country to goto is Ireland in some small town to a address of a small office with about 10 employees. thats where there money trail ends.

  5. #5
    What's Jailbreak?
    Join Date
    May 2013
    Location
    Minneapolis
    Posts
    19
    Thanks
    0
    Thanked 4 Times in 2 Posts

    Quote Originally Posted by REMED1AL View Post
    I can't believe I'm saying this but way to go Sen. Rand Paul.

    Is Apple doing anything illegal? No.

    Then why are we having a hearing? The Senate thinks they should have moved their profits into the U.S. to pay the most possible in taxes.

    Why not just close the loophole allowing such an action by a U.S. company? Because that would hurt U.S. business and deter expansion into new markets and subsequently decrease our exports.

    How much tax revenue was wasted to target Apple for highlighting the fact that Apple did not actually do anything illegal? A lot.
    Bravo!!!

  6. #6
    iPhoneaholic
    Join Date
    Aug 2010
    Posts
    409
    Thanks
    0
    Thanked 42 Times in 34 Posts

    Quote Originally Posted by ahayes View Post
    Bravo!!!
    They should be worrying more worried about the 18 trillion debt that they have wasted then a few measly dollars that Apple sheltered

  7. #7
    Livin the iPhone Life
    Join Date
    Jul 2008
    Location
    Irvine, CA
    Posts
    1,133
    Thanks
    17
    Thanked 87 Times in 71 Posts

    Quote Originally Posted by REMED1AL View Post
    I can't believe I'm saying this but way to go Sen. Rand Paul.

    Is Apple doing anything illegal? No.
    True but it is not has holy as Tim Cook made Apple out to be, obviously Apple is not complying with the spirit of the law.

    Quote Originally Posted by REMED1AL View Post
    Then why are we having a hearing? The Senate thinks they should have moved their profits into the U.S. to pay the most possible in taxes.
    It is more about setting Apple as an example for all other companies that is doing same thing, they chose Apple because everybody knows Apple

    Quote Originally Posted by REMED1AL View Post
    Why not just close the loophole allowing such an action by a U.S. company? Because that would hurt U.S. business and deter expansion into new markets and subsequently decrease our exports.
    It takes a lot to create tax laws and closing 1 loophole there will be another, prosecute companies now would make more sense forcing Apple to make a deal.

    Quote Originally Posted by REMED1AL View Post
    How much tax revenue was wasted to target Apple for highlighting the fact that Apple did not actually do anything illegal? A lot.
    Actually not that much, all you have to do is pull tax records to get Apple's info, I am sure there is plenty of people in IRS who can audit Apple. As for getting info from Ireland all they have to do is make a call, I am sure they are more of an ally to U.S. government than Apple company.

    But like I said before if I own Apple would I do the same thing? Most likely. Other multinationals doing the same thing? Definitely. Do I know it is wrong? Yes.
    Last edited by unison999; 05-21-2013 at 05:28 PM.

  8. #8
    iPhone? More like MyPhone zeppy's Avatar
    Join Date
    Dec 2010
    Posts
    125
    Thanks
    2
    Thanked 10 Times in 9 Posts

    Tim Cook (Crook) has come across to many as a greed-driven, arrogant cock-roach type of CEO.
    And who is the miscreant individual with the bad pair of prescription glasses hovering up against the rear of Tim?

    Most of the above comments being true and reasonable... Tax evasion/avoidance is something that the overpaid by (tens of millions per year) CEO's like Tim Cook typically sell their soul for...

    These same overpaid greedy corporate elitists then conveniently pay slave wages to the builders of their products while they overcharge consumers and laugh all the way to the bank with their billions in ill-festering profits.

    Apple management for the most part is lackluster, ego-centric, arrogant, over-paid and worthless in so many ways.

    Steve Jobs aside from his own issues, led Apple to become an empire and his rebel spirit and drive are sorely missed these days.

    May the wonderful employees of Apple that actually create, design and innovate keep the faith and do your best to unite and turn Apple around before it's too late.

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts