David Rosenbloom Comments on Senate Committee Hearing Highlighting Apple's Offshore Accounts
MacNewsWorld spoke with H. David Rosenbloom regarding the U.S. Senate committee hearing taking place next week concerning Apple's offshore cash strategies. Having reported $40 billion in earnings held offshore, Apple's CEO is scheduled to testify before a U.S. Senate committee regarding the company's offshore profits and tax avoidance strategies. The company is defending itself ahead of next week's hearing by talking up its corporate tax payments and record of job creation. In the past, the federal government has tried to lure offshore profits back to the U.S. through a tax amnesty. For the complete article, please visit MacNewsWorld's website.
Excerpt taken from the article.
"They brought home about $300 billion," H. David Rosenbloom, a member of the law firm of Caplin & Drysdale, told MacNewsWorld, "and they used it to pay their executives higher salaries and to buy stock, and they didn't create a single job. In fact, they lost jobs."