I have got to say this as candidly as I can: under no circumstances is Apple
the only company engaged in tax-dodging. While I’m not happy to know that they have been using tax shelters (especially in places like Ireland), I think that Apple
‘s actions are only a small role in a much larger problem with the American Tax System. The problem America faces in terms of lost tax revenue is the allowing of corprorations to create subsidiaries and other shadow companies as a means of moving profits away from the taxation system through several legal loopholes. Essentially what should be noted and used sparingly as a tool of legal tax avoidance has instead turned into a legalized version of tax evasion by several of America’s largest companies.
Moreover, the recent report released by the Senate about Apple’s activities should be placed in the context of doing something about reforming the tax system as a whole. This means that both the President and Congress need to do everything they can to close as many of these loopholes as possible and identify companies that do this as a way of increasing profitability. I’m for business success, but not at the expense of everyone else.