© Chappatte in "International Herald Tribune"
BACKGROUND
This cartoon by Chappatte from the International Herald Tribune relates to Apple CEO Tim Cook's appearance before the U.S.Senate's Permanent Subcommittee on Investigations (which is presently looking into the tax code). Chairman Carl Levin (D-Michigan) accused Apple of "exploiting an absurdity [in US tax laws] that we have not seen other corporations use," referring to a loophole he believes should be closed. Read more >>
THE CARTOON
A committee member asks Tim Cook, "Why would the world's most profitable company avoid paying taxes?!" To which Cook replies, "To remain the world's most profitable company."
COMMENT
In fact, Cook maintained that Apple pays US taxes on its US profits as it should, and vigorously denied charges that Apple had set up "ghost" corporations for the sole purpose of hiding profits. The Apple CEO specifically pointed out to the senators that Apple did not send any US profits overseas, paid all taxes on sales throughout the Americas at the US tax rate, and repeatedly reminded them that Apple set up the Irish corporation that handles its European sales in 1980 -- long before bad economies or the current corporate tax situation -- and that it operates essentially unchanged from then. So that's OK then ...
VOCABULARY
A profitable organization or practice makes a profit, i.e., it earns more money than it loses. • Drug manufacturing is the most profitable business in America.
GRAMMAR
Note that you avoid doing something not "avoid to do" it.
