Apple Supports Lowering The U.S. Repatriation Tax
"The barrier right now in terms of repatriating cash is that it's repatriated at the 35 percent level. And so our proposal -- and I may be a bit different than my peers here, as I'm not proposing zero -- is that we eliminate all corporate tax expenditures, get to a very simple system, and have a reasonable tax on bringing money back from overseas. And I think if we did that, I think many, many companies would bring back capital to invest in the United States and it would be great for the economy. "Apple does not support a temporary tax holiday. We think the tax code needs to be comprehensively reformed for a long period of time. I think in terms of a rate for bringing back foreign earnings, to incent a huge number of companies it would need to be a single-digit number. And I think by doing that you wind up in a revenue-neutral kind of situation, which means some companies would pay a bit more -- and I think we would be one of those -- and other companies would pay less. But I think more important ... it would be great for growth in this country. And so that's the reason I feel so adamant about doing this."