Rand Paul ruins the liberals' Apple show-trial (video)

[bripat9643]

Today was supposed to be a fun one for liberals on the Investigations subcommittee for the U.S. Senate Homeland Security and Government Affairs Committee. They were going to haul in Apple’s CEO, CFO, and head of Tax Operations to browbeat them over their lack of — what, patriotism? Dumbness? — for having avoided tax liability last year. This was supposed to provide a little diversion from a week of wall-to-wall Obama administration scandals. Instead, Sen. Rand Paul rained on everyone’s parade, providing an exemplary rebuttal of the brain-dead populism that politicians so often engage in when it comes to corporate...

[ame=http://www.youtube.com/watch?feature=player_embedded&v=hi0m0w1kBOQ]Sen. Paul Defends Apple Against HSGAC Subcommittee - 05/21/2013 PART 1 - YouTube[/ame]

 

[Avorysuds]

Dang, Rand is pretty fing awesome.... Perfect, no, but I ain't looking for perfect nor am I looking for his dad.

 

[GWV5903]

Today was supposed to be a fun one for liberals on the Investigations subcommittee for the U.S. Senate Homeland Security and Government Affairs Committee. They were going to haul in Apple’s CEO, CFO, and head of Tax Operations to browbeat them over their lack of — what, patriotism? Dumbness? — for having avoided tax liability last year. This was supposed to provide a little diversion from a week of wall-to-wall Obama administration scandals. Instead, Sen. Rand Paul rained on everyone’s parade, providing an exemplary rebuttal of the brain-dead populism that politicians so often engage in when it comes to corporate...

Sen. Paul Defends Apple Against HSGAC Subcommittee - 05/21/2013 PART 1 - YouTube

Dead on, where in the hell do they believe they are entitled to more? If Congress could get their heads on straight, we could kick everybody's ass 7 days a week...

 

[Lakhota]

Yeah, Ayn Rand Paul wants some of that tech money in his political coffers. Little weasel...

 

[The2ndAmendment]

lololol

Bro, the first 60 seconds of that video totally destroyed this charade.

Stand with Rand!

 

[GWV5903]

Yeah, Ayn Rand Paul wants some of that tech money in his political coffers. Little weasel...

And what politician doesn't? You state the obvious, put the peyote down...

Do something, get off your ass...

 

[Zander]

He destroyed those morons.....

 

[S.J.]

We need more like him.

 

[OnePercenter]

An 'awful tax code' that chases companies overseas?

Didn't Apple pay 11% effective for 2012?

About the same as a middle-class taxpayer?

But middle-class can't stash cash in the Bahamas.

 

[Jarlaxle]

We need more like him.

We need 534 more like him!

 

[OnePercenter]

We need more like him.

We need 534 more like him!

You mean a guy that uses Republican talking points against Democrats when the Republicans wrote and pushed the laws through that allow off-shore investments?

 

[Katzndogz]

Rand Paul gets more impressive by the day.

 

[OnePercenter]

Rand Paul gets more impressive by the day.

Perhaps to the uneducated 'minions'.

 

[dblack]

Rand Paul gets more impressive by the day.

He remains an unreliable representative of libertarian principles from my point of view. His father wasn't afraid of laying out the hard truth. Rand is all to willing to play politics. But he's at least pointing in the right direction.

 

[Mertex]

What's so smart about Rand Paul? He's only coming to Apple's defense because he wants them to donate money to his fund. True it's not Apple's fault that our tax code is so screwed up that companies like Apple can make a lot of money, stash it in other countries and screw America of revenue. And those who think it's great are just as dumb as the politicians who approved and supported such tax codes/laws.

So, you bitch at Obama for not fixing the economy while applauding those that would come to the defense of a company that is screwing our country instead of demanding that tax codes be changed.


The firm avoided taxes on money earned overseas by assigning it to three subsidiaries based in Ireland, according to information developed by subcommittee staff.
Under US law, profits held by those subsidiaries would be taxed in Ireland, where the subsidiaries are incorporated. Under Irish law, the profits would be taxed in the US, the country from which the subsidiaries are controlled and where they hold board meetings.
So they weren’t taxed at all. (If the money were repatriated to the US, it would then face corporate income taxes.)
Through this maneuver Apple withheld at least $76 billion in profits from taxation between 2009 and 2012, according to subcommittee investigators. In 2012 alone this cost Uncle Sam $12 billion in receipts, according to subcommittee figures. Two other Apple subsidiaries incorporated in Ireland pay taxes there.
Many senators expressed outrage at Apple using overseas subsidiaries to avoid taxes at a time when the government is struggling to reduce the federal deficit.
“Apple is exploiting an absurdity,” said Sen. Carl Levin (D) of Michigan, subcommittee chairman, at the beginning of the hearing.
Sen. John McCain (R) of Arizona began his statement praising Apple for creating great products. But he decried Apple’s “scheme” to avoid taxation.
Why Rand Paul thinks Senate is 'bullying' Apple Inc

Apple doesn't have a PAC, so it can't reward Paul for his outrage on the company's behalf, but Paul is planning a trip to Silicon Valley next week, where he'll be meeting with top tech execs, according to media reports.

Paul doesn't historically have a close connection with any Silicon Valley companies, but he has had some luck in the region -- and with high-tech execs -- and his Apple-friendly attitude might help his fundraising next week.
Just Who Was Rand Paul's Apology For? - OpenSecrets Blog

 

[dblack]

What's so smart about Rand Paul? He's only coming to Apple's defense because he wants them to donate money to his fund. True it's not Apple's fault that our tax code is so screwed up that companies like Apple can make a lot of money, stash it in other countries and screw America of revenue. And those who think it's great are just as dumb as the politicians who approved and supported such tax codes/laws.

So, you bitch at Obama for not fixing the economy while applauding those that would come to the defense of a company that is screwing our country instead of demanding that tax codes be changed.

Whatever I think of Rand's sincerity, i think you're missing the point. It's utter hypocrisy on the part of Congress to create all these tax loopholes and then try to shame companies who utilize them. Don't they realize it just makes them look like resentful whores?

 

[Mertex]

What's so smart about Rand Paul? He's only coming to Apple's defense because he wants them to donate money to his fund. True it's not Apple's fault that our tax code is so screwed up that companies like Apple can make a lot of money, stash it in other countries and screw America of revenue. And those who think it's great are just as dumb as the politicians who approved and supported such tax codes/laws.

So, you bitch at Obama for not fixing the economy while applauding those that would come to the defense of a company that is screwing our country instead of demanding that tax codes be changed.

Whatever I think of Rand's sincerity, i think you're missing the point. It's utter hypocrisy on the part of Congress to create all these tax loopholes and then try to shame companies who utilize them. Don't they realize it just makes them look like resentful whores?

It's one thing to take advantage of deductions afforded by the tax codes, but it's another to go beyond the norm to utilize gimmicks in order to avoid paying taxes. Dishonesty is not something to be defended, and that is what Rand Paul is doing. And those praising Rand Paul's actions are doing the same thing, unless you're cool with putting the screws to the country which these same people claim they "love".

Apple’s web of subsidiaries is so massive and complex it goes beyond anything many experts had ever seen before, The New York Times reports....

The technology company’s alleged exploitation of tax loopholes reportedly goes beyond an understaffed office located in Nevada due to the state’s zero percent corporate tax rate, which the The New York Times revealed last month. Congressional investigators have uncovered a number of Apple subsidiaries located around the world without any actual employees and run by officials working out of the company’s Cupertino headquarters.

“Apple wasn’t satisfied with shifting its profits to a low-tax offshore tax haven,” U.S. Senator Carl Levin told The New York Times. “Apple successfully sought the holy grail of tax avoidance. It has created offshore entities holding tens of billions of dollars while claiming to be tax resident nowhere.” One of those subsidiaries is a firm in Ireland called Apple Operations International or AOI for short.
NYTimes Slammed Apple On Tax Shelters Ahead Of Senate Hearing | TechnoBuffalo

 

[bripat9643]

We need more like him.

We need 534 more like him!

You mean a guy that uses Republican talking points against Democrats when the Republicans wrote and pushed the laws through that allow off-shore investments?

Americans have been able to invest overseas for over 200 years, so which Republicans voted to "allow off-shore investments?"

 

[Sallow]

lololol

Bro, the first 60 seconds of that video totally destroyed this charade.

Stand with Rand!

Well no, he didn't.

And he contradicted himself on several points. The most glaring being that the tax code was to complicated and that the hearing was a sham.

Well..exactly how do you find out what the "complications" are without a hearing?

Additionally, Apple prospers because of the government which provides markets and a solid infrastructure that gives them the Justice system they just used to get a huge settlement from Samsung.

All that costs money..and Apple is using the tax code to keep from paying their fair share.

 

[Sallow]

We need 534 more like him!

You mean a guy that uses Republican talking points against Democrats when the Republicans wrote and pushed the laws through that allow off-shore investments?

Americans have been able to invest overseas for over 200 years, so which Republicans voted to "allow off-shore investments?"

The tax codes that are probably being referred to here, were introduced by Eisenhower and actually allows for tax breaks for investing overseas.

They are no longer needed.