will that’s collecting no tax. on the other side apple is say, yes, that is true, except for the fact that it doesn’t change our tax liability and we have been paying it anyway. who do you think is right? and are both sides overplaying their hands? i would have to be a more highly paid tax lawyer to decide who is right. they are saying this does not reduce their u.s. tax liability because it’s an off-shore entity. therefore the existence doesn’t reduce u.s. taxes. but having it in ireland and not as a registered tax resident in ireland what it may be doing is reducing their irish tax liability. there are profits being made outside the united states. that’s right. so we shouldn’t care if we’re not paying spain. although spain could use it. tough day for apple. i don’t know why it’s not a tough day for washington. if it’s legal, this is what a company is supposed to do. shou be a tough day for washington because they can’t get their act together and try to figure out,000 reform the tax code or do something with territorial. this bizarre entity that doesn’t exist. if it’s illegal, change the law. he’s a senator. he has several proposals, as you can imagine, that would address this issue directly. the question is whether they want to wait for overall tax reform which may or may not be coming later in the year. and mccain and levin are suggesting let’s go ahead and reform this right now. it’s a loophole and should be
Oppenheimer Opening Statement
Tim Cook Opening Statement
