Apple CEO Tim Cook’s fundraising breakfast for House Speaker Paul Ryan on Tuesday was the talk of Silicon Valley. House Minority Leader Nancy Pelosi speculated that it was a silly mistake. “Poor Tim. What a nice guy he is, but somebody gave him bad advice,” she told the San Francisco Chronicle. “He probably doesn’t think that much about politics.”
Cook, after all, has been outspoken in his opposition to Republican-backed anti-LGBT measures and has refused to provide any support for the Republican convention on account of Donald Trump’s more virulent positions.
But the bottom line is the bottom line.
Apple has billions of dollars stored in subsidiaries in offshore tax havens — about $181 billion, in fact — more than any other U.S. corporation. And he needs Republican help to be allowed to bring it back to the U.S. without paying the statutory 35 percent corporate tax rate.
Federal lobbying disclosures show that Apple lobbied Congress on a bill that would make it easier for U.S. businesses and corporations to repatriate their assets to the United States and pay a significantly discounted tax rate.
Speaker Ryan’s tax policy agenda, which was unveiled last week, includes that feature, as well as a territorial tax system in which U.S. companies wouldn’t have to pay U.S. taxes for money earned abroad.
Cook doesn’t take lightly to accusations that his company is dodging taxes. “Apple pays every tax dollar we owe,” Cook told CBS last year. He added: “We pay more taxes in this country than anyone.”
IT’S EVEN WORSE THAN WE THOUGHT.
What we’re seeing right now from Donald Trump is a full-on authoritarian takeover of the U.S. government.
This is not hyperbole.
Court orders are being ignored. MAGA loyalists have been put in charge of the military and federal law enforcement agencies. The Department of Government Efficiency has stripped Congress of its power of the purse. News outlets that challenge Trump have been banished or put under investigation.
Yet far too many are still covering Trump’s assault on democracy like politics as usual, with flattering headlines describing Trump as “unconventional,” “testing the boundaries,” and “aggressively flexing power.”
The Intercept has long covered authoritarian governments, billionaire oligarchs, and backsliding democracies around the world. We understand the challenge we face in Trump and the vital importance of press freedom in defending democracy.
We’re independent of corporate interests. Will you help us?
IT’S BEEN A DEVASTATING year for journalism — the worst in modern U.S. history.
We have a president with utter contempt for truth aggressively using the government’s full powers to dismantle the free press. Corporate news outlets have cowered, becoming accessories in Trump’s project to create a post-truth America. Right-wing billionaires have pounced, buying up media organizations and rebuilding the information environment to their liking.
In this most perilous moment for democracy, The Intercept is fighting back. But to do so effectively, we need to grow.
That’s where you come in. Will you help us expand our reporting capacity in time to hit the ground running in 2026?
We’re independent of corporate interests. Will you help us?
I’M BEN MUESSIG, The Intercept’s editor-in-chief. It’s been a devastating year for journalism — the worst in modern U.S. history.
We have a president with utter contempt for truth aggressively using the government’s full powers to dismantle the free press. Corporate news outlets have cowered, becoming accessories in Trump’s project to create a post-truth America. Right-wing billionaires have pounced, buying up media organizations and rebuilding the information environment to their liking.
In this most perilous moment for democracy, The Intercept is fighting back. But to do so effectively, we need to grow.
That’s where you come in. Will you help us expand our reporting capacity in time to hit the ground running in 2026?
We’re independent of corporate interests. Will you help us?
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