Corporate Tax Double-Talk
In my last post I noted that there was a need for individuals to think about the question How Much Is Enough. The point of the post was that devoid of any desire or need for legislation, individuals should think, both for their own benefit and for the general social welfare, about how much wealth they really need to accumulate and how they will go about doing so. Today I want to speak briefly about policy, particularly as it relates to the tax code and the interplay of corporations in that paradigm. The other day, May 21, Apple CEO Tim Cook went before a Congressional committee to testify. It wasn't part of any high-level investigation or anything of the sort, but they wanted to know how it was Apple over the past few years avoided paying taxes on a very large sum of money, somewhere in the neighborhood of $44 billion. For days leading up to this testimony the media seemed almost fearful that Apple would get raked over the coals with accusations of being railroaded and f...