As you know my now, Apple Inc. (NASDAQ:AAPL) is going through the ringer as the government takes a closer look at its tax practices.
Despite the fact that Apple CEO Tim Cook has repeatedly said that the company is paying every last dollar it owes, something seems to be missing. The U.S. Senate Permanent Subcommittee is looking for something better than that.
While it may seem that everybody is against Apple Inc. (NASDAQ:AAPL) as far as its tax practices are concerned, nothing could be further from the truth. Sure, there are people who think the company is “gaming the system” and hiding money offshore as a means of avoiding paying its fair share in taxes.
On the other side of things, there are those, such as Sen. Rand Paul, a Kentucky Republican, who are on Apple Inc. (NASDAQ:AAPL)’s side. In fact, Paul did not waste any time discussing his stance on how the tech giant is being treated.
Believe it or not, Paul went as far as to say that Apple CEO Tim Cook deserves an apology. As you can imagine, this is the exact opposite of what some people think should happen to him.
For a closer look at what Paul had to say, here is a link to the video (courtesy of Bloomberg) of him speaking.
Here is how Paul feels about the way Apple is being treated:
“I am offended by a $4 trillion government bullying, berating, and badgering one of America’s greatest success stories. You know, tell me one of these politicians up here who doesn’t minimize their taxes. Tell me a chief financial officer that you would hire if he didn’t try to minimize your taxes legally. I would say what we really need to do is apologize to Apple, compliment them for the job creation, and get about doing our job.”
As you can see, there is no gray area as far as Paul is concerned. He doesn’t think Apple Inc. (NASDAQ:AAPL) has done anything wrong and it is hard to argue with him.
As noted, every corporation does its best to legally minimize its tax obligation. Apple is no different than these other companies, as well as the millions upon millions of people who do the same every year during tax season.
For those who want to watch the video in its entirety, seeing exactly how Paul feels about Apple Inc. (NASDAQ:AAPL), you can do so below: