Passing along the latest news, Jim Hamm writes, "Here is an article that comments on the recent grilling Apple went through regarding their tax practices. As the article points out, Apple and many other companies are following tax laws that Congress passed, and Congress is now complaining because companies use these laws to increase shareholder value. It's interesting to note that GE, for example, made significant earnings and not only paid no taxes, but got a refund!"
Jim goes on to give his opinion, "Before I retired I was heavily involved in preparing the tax return for our company. I can tell you our tax laws, as the article states, are really 'Byzantine and bizzare.' Will Congress do anything about this? You've seen Congress in inaction, er, action, these past years. What do you think?"