The seven craziest findings in the US investigation of Apple’s tax avoidance practices

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8. Rand Paul jumps to Apple’s defense

Sen. Ran Paul, the Kentucky Republican and libertarian, Tuesday defended Apple’s tax machinations, saying he was “offended” that Apple CEO Tim Cook was being “hauled” before the Senate’s Permanent Subcommittee on Investigations to explain how the company could attribute nearly two thirds of its income to Irish entities that have no employees, no physical residence, and are not taxed by any government anywhere, but are totally controlled by Apple.

Paul accused chairman Carl Levin, D-Mich, and fellow Republican John McCain, R-Ariz., of trying to “bully America’s greatest success story.” Paul said Congress should “hold a mirror” up to itself instead of conducting a hearing on Apple, because Congress created the tax code that Apple is manipulating. Paul argued that multinationals should pay only a minimum tax of five percent on foreign earnings.

“Frankly I think the committee should apologize to Apple,” Paul said.

McCain’s blistering critique of Apple’s tax strategies and Paul’s unabashed defense makes for interesting new tax politics in the GOP. Stay tuned. McCain chastised Paul for accusing Levin of bullying the company, calling Paul’s comments, “frankly, offensive.”

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http://blog.sfgate.com/nov05election/2013/05/21/rand-paul-jumps-to-apples-defense/