Bloomberg Interviews David Rosenbloom Regarding Apple's Tax Strategy
Bloomberg spoke with H. David Rosenbloom concerning the legality of Apple's tax avoidance strategies. Mr. Rosenbloom commented that there is nothing illegal with benefitting from tax loopholes and "Congress has created a very intricate system and companies can be expected to take advantage of it." He further remarked that "Apple will most likely use this occasion to push for a territorial system and perhaps a lower corporate tax." Mr. Rosenbloom stated that the prior tax amnesty for repatriated earnings didn't "serve the nation well." He went on to say that "the liquidity of multinationals is not the big problem in the United States, that's not what is keeping us from increasing jobs, so it is unclear why we should go to an amnesty except as part of a broad reform movement." For the complete interview, please visit Bloomberg's website.