Oh My Gov!

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend ...and more »

10:03 a.m.: Sen. John McCain (R-AZ) said the situation "reflects a flawed corporate tax system," after applauding Tim Cook, the late Steve Jobs, and Apple's products and services. He also said Apple was the country's biggest tax payers in the U.S.. "Apple is ...and more »

Sen. John McCain of Arizona, the ranking Republican on the investigations subcommittee, says that may be true. "Apple executives like to boast that their company is the highest corporate taxpayer in the U.S.," McCain says. "But what they often leave out of the story is the second part of the story, and that is that Apple is one of the largest corporate tax avoiders." While Apple's ... Levin and McCain, however, said Congress shouldn't wait for a tax overhaul to close loopholes like the ones Apple is exploiting. Share ...and more »

- WASHINGTON (AP) — A Senate panel says Apple Inc. is avoiding paying billions of dollars in U.S. taxes, but the world's most valuable company says it is complying with the laws and pays "an extraordinary amount" in taxes to the U.S. government. Apple Inc. CEO Tim Cook is scheduled to testify Tuesday to Congress to explain the company's tax strategy. The Senate investigation, results of which were disclosed ... Apple, Levin said at a news conference Monday with Sen. John McCain, the panel's senior Republican.and more »

WASHINGTON (AP) — A Senate panel says Apple Inc. is avoiding paying billions of dollars in U.S. taxes, but the world's most valuable company says it is complying with the laws and pays "an extraordinary amount" in taxes to the U.S. government. Apple Inc. CEO Tim Cook is scheduled to testify Tuesday to Congress to explain the company's tax strategy. The Senate investigation, results of which were disclosed ... Apple, Levin said at a news conference Monday with Sen. John McCain, the panel's senior Republican.and more »

Near the top of the business headlines is the battle that Congress has started to wage with Apple Inc. (NASDAQ: AAPL) over the taxes it pays. By some measures, the company ... A report released Monday by Senators John McCain, R-Arizona, and Carl Levin, D-Michigan, charged that Apple “has used a complex web of offshore entities — including three foreign subsidiaries the company claims are not tax resident in any nation — to avoid paying billions of dollars in U.S. income taxes.” The report says Apple relies on ...and more »

John McCain visited Boston Monday to stump and fundraise for fellow Navy veteran and Republican Senate candidate Gabriel Gomez, who ramped up his attacks on opponent U.S. Rep. Edward Markey for voting against resolutions in Congress honoring the ...and more »

Sen. John McCain of Arizona, the ranking Republican on the investigations subcommittee, says that may be true. "Apple executives like to boast that their company is the highest corporate taxpayer in the U.S.," McCain says. "But what they often leave out of the story is the second part of the story, and that is that Apple is one of the largest corporate tax avoiders." While Apples ... Both Senators Levin and McCain, however, said Congress shouldn't wait for tax overhaul to close loopholes like the ones Apple is exploiting.and more »

Near the top of the business headlines is the battle that Congress has started to wage with Apple Inc. (NASDAQ: AAPL) over the taxes it pays. By some measures, the company ... A report released Monday by Senators John McCain, R-Arizona, and Carl Levin, D-Michigan, charged that Apple “has used a complex web of offshore entities — including three foreign subsidiaries the company claims are not tax resident in any nation — to avoid paying billions of dollars in U.S. income taxes.” The report says Apple relies on ...and more »

Apple's tax structure highlights flaws in the US corporate tax code so that Congress “can effectively close the loopholes used by many US multinational companies,” Arizona Senator John McCain, the subcommittee's top Republican, said in a statement on ...and more »

John McCain, R-Ariz., offering the first amendment to eliminate crop insurance subsidies for tobacco. Full Senate debate ... "The value of American tobacco is at a 10-year high since Congress ended traditional tobacco subsidies," he said. "It makes no sense ...and more »

"What they often leave out is the second part of the story, that Apple is one of the largest tax avoiders," said Senator John McCain (Republican, Arizona), who described Apple as the "most egregious offender" among US corporations trying to avoid tax bills.and more »

Apple's tax structure highlights flaws in the U.S. corporate tax code so that Congress "can effectively close the loopholes used by many U.S. multinational companies," Arizona Senator John McCain, the subcommittee's top Republican, said in a statement on ...and more »

John McCain visited Boston yesterday to stump and fundraise for fellow Navy veteran and Republican Senate candidate Gabriel Gomez, who ramped up his attacks on opponent U.S. Rep. Edward Markey for voting against resolutions in Congress honoring ...and more »

View: Larger | Hide. Sen. John McCain, R-Ariz., center, campaigns with Massachusetts Republican candidate for U.S. Senate Gabriel Gomez, right, at the Boston Police VFW Post in Boston, Monday, May 20, 2013. Photo: Michael Dwyer. Sen. John McCain, R-Ariz., center, ... Gomez has called for a two-term limit for U.S. senators and has repeatedly said that Markey, who was first elected to the House in 1976, has been in Congress way too long. Asked why the same should not apply to McCain — who was elected the ...and more »

BOSTON — The major political question here is whether Representative Edward J. Markey, a longtime member of Congress whose liberal views generally reflect those of Massachusetts voters, could actually lose the special election for the Senate seat ... One Republican not waiting is Senator John McCain of Arizona, who on Monday visited a V.F.W. hall in Boston's Dorchester neighborhood with Mr. Gomez and helped him raise money later at a hotel reception where top donors paid as much as $37,600 to sit for a ...and more »

When Apple (AAPL) CEO Tim Cook testifies before Congress on Tuesday about his company's tax practices, he'll clearly be sitting in the hot seat. A pair of reports issued Monday -- one by the very subcommittee before which Cook will appear -- accused ... Senator John McCain, R-Ariz., the ranking member of the Senate subcommittee before which Cook will testify, termed Apple's tax practices "highly questionable." "Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among ...and more »

When Apple (AAPL) CEO Tim Cook testifies before Congress on Tuesday about his company's tax practices, he'll clearly be sitting in the hot seat. A pair of reports issued Monday -- one by the very subcommittee before which Cook will appear -- accused ... Senator John McCain, R-Ariz., the ranking member of the Senate subcommittee before which Cook will testify, termed Apple's tax practices "highly questionable." "Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among ...and more »

Apple's tax structure highlights flaws in the U.S. corporate tax code so that Congress “can effectively close the loopholes used by many U.S. multinational companies,” Arizona Senator John McCain, the subcommittee's top Republican, said in a statement on ...and more »

The U.S. Senate gets a high-profile visitor this week as Apple CEO Tim Cook will press Congress to simplify corporate tax rates. Marketwatch's Robert ... the 35% statutory rate. "What they often leave out is the second part of the story, that Apple is one of the largest tax avoiders," said Sen. John McCain (R., Ariz.), who described Apple as the "most egregious offender" among U.S. corporations trying to avoid tax bills. Mr. McCain is the ranking Republican on the subcommittee headed by Michigan Democrat Carl Levin.and more »

View: Larger | Hide. Sen. John McCain, R-Ariz., center, campaigns with Massachusetts Republican candidate for U.S. Senate Gabriel Gomez, right, at the Boston Police VFW Post in Boston, Monday, May 20, 2013. Photo: Michael Dwyer. Sen. John McCain, R-Ariz., center, .... Gomez has called for a two-term limit for U.S. senators and has repeatedly said that Markey, who was first elected to the House in 1976, has been in Congress way too long. Asked why the same should not apply to McCain — who was elected the ...and more »

(05-20) 16:39 PDT Washington -- Apple CEO Tim Cook is scheduled to appear Tuesday before the Senate Permanent Subcommittee on Investigations to explain why the Cupertino computer giant is avoiding paying billions of dollars in taxes by diverting nearly two thirds of its pre-tax revenue through Irish subsidiaries. The novel tax avoidance ... Carl Levin, D-Mich., and John McCain, R-Ariz., said they hope to crack down on what they called abuses of overseas tax havens by U.S. multinationals. More than 1,000 U.S. ...and more »

Levin has a key ally on board, Sen. John McCain, an Arizona Republican, who trashed Silicon Valley's argument that closing overseas tax dodges has to wait for a comprehensive tax reform that may never come. McCain called Apple's tax practices ...and more »

Apple's tax structure highlights flaws in the U.S. corporate tax code so that Congress "can effectively close the loopholes used by many U.S. multinational companies," Arizona Senator John McCain, the subcommittee's top Republican, said in a statement on ...and more »

McCain backs Gomez in Mass. Senate race - .com(: Alison King) - Senator John McCain was in Boston to headline a campaign event for Republican Senate Candidate Gabriel Gomez. "I'm here because I believe in this young man," said McCain. "I believe he is the next generation of leadership in this ...and more »