Apple’s CEO was hauled before a Senate subcommittee to defend the use of “tax shelters.” In essence it was kind of like this (with more polite wording):
Senators: Shame on you for not giving us your money. That money belongs to us until we say otherwise.
Apple: Fuck you. We complied with your laws. You want more money, then simplify the damn tax code.
Of course, Rand Paul was there to help remind his colleagues who should truly be on trial.
I find it amusing/repulsive that senators who will gladly accept lobbyists’ money for carving out tax exemptions are upset someone might actually use those exemptions to improve their business.
Historically (at least since WWII) government tax revenues have been about 18% of national GDP. If Congress desperately wants more dollars to spend on lavish ego-projects, they should focus on growing the economy, not attempting to squeeze even more money out of already over-burdened companies.
Here’s the real kicker, and one that no Senator will admit (well, maybe Rand Paul). Businesses don’t pay taxes, they collect taxes from their customers in the form of higher taxes or from their shareholders in the form of reduced dividends. In the end, we are still paying for government avarice of private sector money.