Earlier this month, I explained four reasons why the Apple “tax avoidance” issue is empty political demagoguery. And Rand Paul gave some great remarks at a Senate hearing, excoriating some of his colleagues for trying to pillage the company.
If Apple’s CEO Tim Cook did one thing, he illustrated the absurdity of our corporate tax code. Chris Edwards, from the Cato Institute, joined John Ransom to talk about the absurdity of corporate taxes and the Senate’s misguided hearing.
The recent scandals, combined with the Senate’s feigned outrage at Apple’s tax practices, underscores the fundamental issue with our current regulatory and legislative bodies. . . Something about it seems arbitrary and coercive.
Apple employs 600,000 people in the U.S. and is the largest corporate taxpayer in the country. Last year alone, the company paid $6 billion in taxes. This year they expect to pay $7 billion.
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