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Tim Cook: Apple Should Be The Catalyst For Tax Reform, ‘We Don’t Use Gimmicks’

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Seriously, the IRS lets us do all sorts of things.
Seriously, the IRS lets us do all sorts of things.

In his interview today at the AllThingsD D11 conference, Apple CEO Tim Cook responded to questions from Kara Swisher and Walt Mossberg about Apple taxes. Relating his time with the congressional subcommittee this past week, Cook, said that he felt strongly about how the company was portrayed by lawmakers.

Cook said that he wanted to be a catalyst for a discussion, coming to the hearing with a proposal rather than a defense, one for a revenue-neutral and major overhaul of corporate taxes nationwide.

Cook said that he felt simplicity was good, and how Apple approaches everything. The current tax system, he said, results in a two foot high tax return every year. When asked what he would like to do with it, he replied, “I would suggest we gut it.”

What The Price Of A 17-Inch PowerBook G4 In 2003 Would Be Worth Today In Apple Stock

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Apple PowerBook G4
Steve Jobs introduced the PowerBook G4, Apple's first widescreen laptop, in 2001.
Photo: Cult of Mac

Many of us have old MacBooks and PowerBooks collecting cobwebs and dust bunnies in the back of our closets. It seems an ignominous end to a computer that we not only loved, but probably spent a lot of money on. Did we waste our cash on something little better than a dust collector?

That’s what TNW co-founder Patrick de Laive wanted to know, so he ended up asking himself what would have happened if he’d bought Aple stock back in 2003 instead of spending $3,299 for the 17-inch PowerBook G4 back in April of 2003. The answer is that today, he could buy a starter home with the money he’d have earned on AAPL, while a PowerBook G4 on eBay can be had for under $50. Woof.

Source: The Next Web

Everything You Ever Wanted To Know About Apple’s Fetish For Secrecy

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imac8if

Quora is a fantastic site in which members ask questions of experts in various fields, and for the past year or so, there’s an absolute fantastic thread going asking about how Apple keeps its secrets… and it contains not only some fantastic insight there on what lengths Apple will go to be secretive about new products, but about how information on new products leaks… like, say, the time the Pentagon leaked the 1998 iMac to the world.

Keep Your Smartphone Charged With The PowerBar [Deals]

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CoM - Powerbar

If you’ve been wishing for an easy way to charge your smartphone when you’re on the go, look no further because now you can with this portable PowerBar smartphone charger offer courtesy of Cult of Mac Deals.

Never have your smartphone die on your again with this powerful little portable charger. When you travel as much as I do, this device can be a real plus – now I don’t have to think about how much juice I’ve got left on my smartphone. I can simply plug the PowerBar into my smartphone and the charging will begin.

This offer from Cult of Mac Deals saves you 44% on this gadget. It’s only $39 – but only for a limited time.

Apple TV Vs. Xbox One And Tim Cook Goes To Washington On Our All-New CultCast

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This week on The CultCast: Apple Chief Tim Cook brings his Southern charm to Washington, hints at an iHologram; we break down the Apple tax debacle and say why their overseas billions are too legit to quit; and Xbox One vs. Apple TV, should Apple be worried?

All that and more on this week’s CultCast. Stream or download new and past episodes on your Mac or iDevice by subscribing now on iTunes, or hit play below and let the good times roll.

Show notes up next.

Cultcast 73 post player image

Smarter Stand Clips: Turn Your Apple Smart Cover Into An iPad Stand [Deals]

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CoM - Clips

If you own an iPad with a Smart Cover or Case, then you know how much of a pain it is to use it as a stand for your iPad. It literally only has two positions that aren’t ideal for doing what you need to do on your iPad. Thanks to these Smarter Stand Clips your iPad Smart Cover (or Case) can now be transformed into a fully functional stand that creates 4 different stand positions. Moreover, these clips are designed to slide up and down your Smart Cover with ease so you’ll be able to quickly change your stands position in a flash.

And Cult of Mac Deals has the Smarter Stand Clips for just $14.99 for a limited time.

Apple Will Double Its Lobbying Efforts This Year To Simplify U.S. Tax Code

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"Low-fi on-hold music at Apple? Not on my iWatch!"

By Silicon Valley standards, Apple doesn’t lobby much in Washington. Last year, they spent a little under $2 million on lobbying, a drop in the bucket to Google’s $18 million spent.

But scrutiny of Apple in Washington is starting to heat up, especially the company’s accounting methods. That’s why Apple is looking to double its lobbying spending this year to close to $4 million.

Judge In Apple E-Book Antitrust Case Thinks Apple Is Guilty, Even Before Trial Starts

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Apple recently got < a href=
Apple recently got < a href="http://www.cultofmac.com/283918/read-apple-settles-ebook-pricing-suit/">bitten for its book-selling efforts, so it’s understandable if the company was a bit trepidatious about setting out to revolutionize publishing, but its pretty clear that digital books can do a helluva lot more than Kindle is currently making possible.

As originally pitched, iBooks looked as though it was going to dramatically shake up the way we read books: adding multimedia elements that would markedly separate it from the low-fi offering Amazon currently gives. Sadly it seems that iBooks have been somewhat forgotten in recent years. As Amazon moves into more areas that compete with Apple, it would be great to see Apple work to re-imagine a format that has stayed the same for years.


Innocent until proven guilty? Not for Cupertino. Apple’s e-book antitrust trial starts on June 3rd, but the U.S. District Judge in charge of the case is already openly expressing her belief that Apple engaged in a conspiracy.

Tim Cook’s Reaction To John McCain’s App Question Is Priceless [Image]

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Senator John McCain had a lot of fun grilling Tim Cook at yesterday’s Senate Sub-Committee Hearing, but before he was done he couldn’t help but let off one little joke as he asked Tim why he has to keep on updating all the apps on his iPhone manually.

“Can’t you guys fix that already?” McCain asked.

Cook let off a chuckle before stating that Apple is “working on making our products better all the time.” But we know what the southern gent was really thinking.

 

Source: Reddit

 

Starting In Germany, Apple.com Is Now Accepting PayPal For Online Payments

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Screen Shot 2013-05-22 at 10.44.39 AM

This is interesting: along with their new redesign, in Germany, Apple has made it possible to pay for products ordered from their online store using PayPal.

In Germany, it is very rare for consumers to have credit cards, or even for brick-and-mortar businesses to take credit card orders. Allowing German consumers to pay for purchases with PayPal may make the Apple online store more accessible to them, or it could be the first sign of a global agreement between Apple and PayPal as another available payment option for consumers.

Nice spot by Macerkopf.

Source: Apple Store

Apple: The U.S. Tax Code Is So Broken, We’re At A Competitive Disadvantage Against Samsung

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U.S. Senator Rob Portman from Ohio has just raised a fascinating point at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc.

The American corporate tax system is so broken that Apple is at a competitive disadvantage against Samsung when it comes to the taxes it pays globally, and how easily it moves its money around.

John McCain And Tim Cook Share A Laugh: “Why Do I Keep Having To Update My Apps All The Time?”

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Screen Shot 2013-05-21 at 12.13.37 PM

John McCain ended his grilling of Apple CEO Tim Cook at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc. with a nice little joke.

“Sir, there’s only one thing I wanted to ask you today: why do I keep on having to update all the apps on my iPhone? Can’t you guys fix that already?”

“Sir,” Tim cook laughed. “We’re working on making our products better all the time.”

Tim Cook To U.S. Subcommittee: Raise Apple’s Corporate Taxes, Just Fix The U.S. Tax System

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Screen Shot 2013-05-21 at 11.45.03 AM

Apple CEO Tim Cook has just started his testimony in front of the Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc. in Washington, D.C.

“I am proud to represent Apple here. With Apple’s international revenues twice as large as domestic revenues, we are often asked ‘Does Apple still consider itself an American company? To that, I answer an emphatic yes. We are proud to be an
American company.”

How Apple Used An Irish Ghost Company To Avoid Paying Taxes On $78 Billion

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Cash-Money

As part of expert testimony at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc., Professor J. Richard Harvey has made a compelling case that the tax system Apple is taking advantage of needs to have its loopholes closed.

Harvey — a distinguished Professor of Practice at Villanova University’s School of Law — says that while what Apple has done is acceptable under current International tax law, it still widely uses tax tricks and gimmicks to avoid paying what it fully owes.

Senator Rand Paul: U.S. Government Needs To “Look In The Mirror” Instead Of Critiquing Apple For Tax Evasion

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Apple executives are testifying before the U.S. Senate Subcommittee today on tax evasion practices, specifically on routing funds offshore to avoid the U.S. government’s 35% corporate tax rate. This is the highest single tax rate in the world, and Apple has avoided paying billions in U.S. taxes by storing more than two thirds of its $100+ billion cash hoard in countries like Ireland.

At the hearing, there are basically two camps: those attacking Apple for using “gimmicks” or loopholes that other multinational corporations take advantage of, and those defending Apple while pointing out the obvious need for reform in the corporate tax code.

While Michigan Senator Carl Levin and Arizona Senator John McCain fall in the first camp, Kentucky Senator Rand Paul is clearly in the second. He said that the Senate should be apologizing to Apple during the hearing today, noting that “the committee needs to look in the mirror and see who created this mess.”