We are updating this blog during the live congressional testimony of Apple CEO Tim Cook. More details will be added soon.
Apple’s CEO Tim Cook came out firing during his Congressional grilling, declaring, “we pay all of the taxes we owe, every single dollar”. A blistering senate investigation accused Apple of shady tax dodging, helping it avoid $13.8 billion in taxes.
In his opening testimony, Cook affirmed its position that “we don’t rely on tax gimmicks” to avoid paying any taxes (for a review of how Apple stashes cash oversees, see our previous post).
Cook had supporters on the panel, especially Senators Clare McCaskill and Rand Paul, a known libertarian who favors dramatically lowering the corporate tax rate.
Paul wigged out on his fellow senators, accused them of vilifying a great American company for fulfilling their responsibility to maximize shareholder value
[twitter https://twitter.com/SenRandPaul/status/336848667552145409]
McCaskill admonished Paul for his accusations against his senate colleagues, but made sure to note that “I. Love. Apple…I harassed my husband until he converted to a Macbook”
Gregory Ferenstein 22 May, 2013
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Source: http://techcrunch.com/2013/05/21/tim-cook-we-pay-all-of-the-taxes-we-owe-every-single-dollar/
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