Senate investigators have accused Apple Inc. of parking at least $74 billion overseas, which allowed the company to avoid paying some $30 billion in taxes between 2009 and 2012. While the charges accuse Apple of using a complex system of offshore entities, no one is alleging Apple did anything illegal. The primary complaint seems to be that Apple, which paid about $6 billion in taxes in 2012, isn’t paying more.
Excuse us for not being impressed by the hypocrites’ complaints. Every member of Congress attacking Apple does his or her best to take advantage of all tax breaks they can reasonably claim. As do all of the reporters and pundits writing about Apple, and the various media organizations that publish them.
The biggest difference is that Apple is better at it and is protecting more income.
What is happening in this country is that many politicians and the left increasingly see business profits as a “commons” that belong to everyone and should be used for the social good. Companies that aggressively, and legally, protect what they can from the taxman are accused of being unpatriotic—by people who do exactly the same thing when it comes to their own finances.
Kentucky Senator Rand Paul had it exactly right at the hearing called to chastise Apple: “If anyone should be on trial here, it should be Congress."