Don't Blame Apple. Congress CREATED The Tax Code!
|The face of a statist - Sen. John McCain (R-AZ)|
Ahem. This is the talk of a big government statist. At no time does it occur to Senator McCain, or any of the other leeches on the Senate panel, that perhaps it is the tax laws and confiscatory rates imposed by them which encourage not only Apple, but numerous other U.S. multinational companies to use the so-called corporate "loopholes", which are legal and which Congress created,and to set up off-shore offices in countries in which they put their money from their international business. Maybe if the tax system in the U.S. wasn't such a massive leviathan, and the tax rates were set at a level which was fair for all individuals and businesses alike, there would be no need for "loopholes", subsidies, or other things that most people do, not to "avoid" taxes, but to ensure that they pay only that which they "legally" owe. Loopholes are not cheating. Loopholes are an admission by the government that the tax rates are too high and confiscatory. Businesses have an obligation to themselves, and to their shareholders, to pay only the maximum amount of taxes that they are legally required to pay. PERIOD!
Senator McCain and the rest of these idiots are the ones who created this tax nightmare. It is not only human nature to legally pay the lowest tax rate possible, but it makes good business sense. If you are a multinational company, it only makes sense to set up offices in a country that provides you the lowest tax rate possible. Does it make sense to set up an office in Ireland, which has a 12% corporate tax rate, or to continue bringing your money back into the U.S., which has a 35% corporate tax rate, which also happens to be the highest corporate tax rate in the industrialized world?
No, the issue isn't with Apple, or any of the multitude of other companies which do the same thing. Apple is singled out because of it's status. The issue is with a government which is drunk on power, spends like there is no tomorrow, and is hell-bent on stealing more and more of the fruits of everybody's labor, while the debt spins out of control and they mortgage the future of the country. While they've pissed away the mortgage, they now want to kill the Golden Goose which provides the wealth - the private sector which powers the economic engine.
It's well past time that Senator McCain got the hell out of the way, and for those in Congress who are actually interested in getting back to a Constitutional government, to start really pushing for the Fair Ta, and educating the public on how that simpler, fairer system benefits everyone.
Video: H/T to NBC News