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Breakingviews: iTax

Wednesday, May 22, 2013 - 03:48

May 22 - Rob Cox and Breakingviews columnists discuss why Apple’s minimalist approach to devices should be applied to the overcomplicated U.S. tax code.

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So yesterday Tim Cook appeared and the -- he talked about Apple's taxes. And he actually gave them a bit of a lesson in simplicity. Courses is what Apple's been good -- it's it's made I found the most simple. Gadget on the planet it did at the same with software years ago. What could it do for the US tax cut question. I mean that the proposal is a fairly simple one which took a lot of people explosives which -- Let's have a lower US tax rate but -- leave polled say that but it is revenue neutral and then the other bit apple is adding Tim Cook added was. Let's. If you get attacked foreign earnings that have as much slower rate than the US -- dozens -- that he he says. So that it's not. Inefficient companies to bring money back to the US that they made his profits -- -- -- apple style minimalist simplicity. Applied to Mexico which is the absolute opposites known to be minute -- -- a big -- special interest and every single one of these people in Washington. Has some attachment to each of these special interest which supplies that on to -- Texas simple yes but it would absolutely make sense but it did trying to simplify the -- to that. Do you think that it backfired a little bit on the Levin and McCain -- they'll they'll came out with guns blazing saying you know. You're tax dodger use all these complex strategies to minimize your taxes which you know the argument is of course if you create laws. That allowed us to do so -- we always -- not a fulfilling our fiduciary obligation closes -- hypocrisy because laws that today said that US laws they created by the same people. The -- especially interest if they pandering to it but also in the case of apple a lot of it relates to laws and other places -- actually if you wanted. To point the finger at apple it's probably know the US they US -- Roloson -- are they US taxes wounds which which would be the big problem. Yeah because they've I mean they went their sales are you know around the world they're. -- their -- and apple Logitech -- there farmworkers. In terms of minimizing taxes that is apple sells a lot in the states I mean. And you've got software it's much easier to hide in plain you know. Should the profits -- and it's very hard -- -- where that is how to view quick himself what's that mean this is sort of if you think about -- mean Tim Cook is you know he's done lots of public interest as this is one where he was. You know it was controversial and it looks pretty well I mean it it if it's Agassi anyone against the US tax cuts pretty good parties -- well. He's evidently the US tax easy -- it it is so complex and ridiculous on the face of it you know -- it's it's an obvious thing and make it simpler and you'll probably end up with acquiring more taxes and it's also just dead weight loss the economy they have lots of Smart people spending all time -- systems that actually do something useful right where it so he acquitted himself well. Not just in terms taxes but in terms of you know the CEOs. He's been on the back foot a bit I mean the stock is tumbled since he took over I mean in that awful maps -- you know. It could against -- easy for cook you know cook against jobs throughout and it's pretty Hartford current threat right -- he had he came after someone who's very very bright news and bad -- just comparison. You know he he did he did he did he did well. And and it's now the question is what is the US going to do it and and it is the problem is also -- -- juniors here stated in other countries as well because. You had to figure of some sort armor is exactly -- illnesses so it took them in the UK alone and it. That did the ultimate hostess detects that companies fell ill family of profits -- that makes them. Mean he rose tried it takes companies. But does that make those -- right OK -- what we're back with more breaking news tomorrow.

Breakingviews: iTax

Wednesday, May 22, 2013 - 03:48

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