“Perhaps those who insist upon cash taxes paid as being the correct method of calculation would care to comment on why they think that eBay’s 366% tax rate is a good idea? Which brings us back to Apple. Some 88% of their $153 billion cash pile is akin to that $9 billion number from eBay. Apple has no shortage of cash inside the US, it can borrow at rates that are, to a close approximation, near to zero if it should want to (and as it is doing with a bond issue to increase dividends and the stock buyback program) so why would it take an action which would result in so much value just disappearing from the company’s coffers?”
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