Wanna hold on to Apple CEO Tim Cook's prepared remarks to the Senate Permanent Subcommittee on Investigation for posterity? Are you also a stamp collector?
All Things D highlighted Cap'n Cook's planned comments:
Apple has always believed in the simple, not the complex. This is evident in the Company’s products and the way it conducts itself. In this spirit, Apple has recommended to the Obama Administration and several members of Congress – and suggests to the Subcommittee today – to pass legislation that dramatically simplifies the U.S. corporate tax system.
This comprehensive reform should:
- Be revenue neutral;
- Eliminate all corporate tax expenditures;
- Lower corporate income tax rates; and
- Implement a reasonable tax on foreign earnings that allows free movement of capital back to the U.S.
Apple recognizes these and other improvements in the US corporate tax system may increase the Company’s taxes. Apple is not opposed to such a result if it occurs in the context of an overall improvement in efficiency, flexibility and competitiveness. Apple believes the changes it proposes will stimulate the creation of American jobs, increase domestic investment and promote economic growth.
Cook’s full prepared testimony is available from Apple’s site as a PDF.