I pretty much despise Apple’s political culture, so I’m tempted to just laugh at them in their troubles with the Washington Bully Club (i.e. the Federal Government). They want to be cool progressives so let them enjoy being at the mercy of their own kind.
But the fact remains that the lefty hipsters at Apple actually make useful stuff (I realize there is debate about the price point and the rational shopper). That fact sets them apart from the people who are threatening them. According to Politico:
“Apple is under so much pressure in Washington over its offshore cash that it’s doing things it almost never does. CEO Tim Cook is coming to Washington to testify in front of a panel of senators about stashing more than $100 billion overseas, rather than sending a lower-level executive… The Apple offensive is a reminder of how powerful even an unpopular Washington remains, when it can still make even a mega-brand nervous… Tuesday’s hearing will be political theater at its finest — senior senators on their home turf looking to crucify a high-profile executive for the cameras, with little legislative action ever to result from it. For Cook, it’ll be the same hot seat before the same Senate committee that summoned Microsoft and HP last year for a verbal bludgeoning…”
You would think that Apple had been caught in some financial crime. But no, nothing illegal has happened at all. Apple is simply being bullied by politicians for not keeping the money here in the United States for them to pick over.
The Government of the United States, which now has two branches that cannot sustain an audit because they are simply black holes of missing money (the two are the Pentagon, year after year, and now joined by DHS), is going to tear into Apple over how they use money? They allow the Military to completely lose trillions of dollars (yes with a “t”) and they are going to now make Apple’s practice of keeping a hundred billion dollars offshore a show case for their self-righteous indignation? The Senate would be more plausible if they would at least prosecute banks for real crimes rather than attack Apple for non-crimes. While bankers can simply lecture us about how their business is too complex for us to understand, Apple has to give an account for all their business decisions.
These Senators are a bunch of syndicate godfathers hyped up on arrogance pills. Apple is owned by private shareholders to whom they owe as high a profit margin as they can legally manage. It is not the government’s business how Apple conserves its resources, allocates its capital, or protects its assets as it tries to do good business and be prepared for emergencies.
Apple’s “crime” is that they dared to borrow money in the US to buy back some stock rather than bring foreign money back home to do it.
“It’s precisely the sort of move that long has infuriated lawmakers of both parties, who for years have hammered businesses across industries — but especially technology — for their creative tax-avoidance strategies.”
Apple is not the problem; those self-righteous, parasite Senator presiding over their useless, bloated “government” are the problem. These Senators should not have the right to harass law-abiding businesses.
On the contrary, they should be summoned to give an account for themselves to the people who work for a living.