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.
But, that's not enough for some members of Congress. Sen. Carl Levin (D-MI) hauled the Apple CEO Tim Cook in front of the Homeland Security and Government Affairs Subcommittee which he chairs and berated him as a "tax dodger." Levin and others in Congress are offended that Apple makes profit in other countries and doesn't bring all that money back to the U.S. - where they would be taxed 35 percent as soon as it crosses the border.
Sen. Rand Paul saw it differently. Paul was "offended by a government that convenes a hearing to bully one of America's greatest success stories." Apple was simply doing what every Member of Congress, private citizen, or businessman does - managing their financial affairs to "minimize their taxes."
Paul says if anybody should be investigated, it should be Congress for creating a "byzantine tax code...that simply doesn't compete with the rest of the world." The tax code chases "the profits of great American companies overseas," Sen. Paul said.
He's right! See his four minute indictment of Congress and clear representation of free-market principles below:
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