Ron Johnson

So, really, nobody in the administration really believes the global war on terror is over. I mean, we are still involved in conflict.

I am finding this hearing quite confusing. I mean, it is true that, on May 23, 2013, President Obama did declare the global war on terror over?

So even though 60 percent of your sales are overseas, what percentage is that? Almost two-thirds...

In addition to U.S. and State income taxes, what other taxes in the United States does Apple basically generate?

Can you describe your shareholders, in general?

So, again, those folks benefit from the fact that Apple is able to retain more of its profit by not paying out taxes to foreign governments?

Who are these people? Is there a Mr. Apple out there? No. It is us.

Do you end up having to negotiate between the States in terms of who gets to claim what percentage of your income?

So the U.S. Government, you could argue, will be a net beneficiary if we ever get our tax house in order.

Thank you, Mr. Chairman.

We are punishing ourselves. And if we want to grow America, we want more companies to succeed in our country, make money welcome.

In other words, there is an assumption that because Apple made a really good deal with the overseas taxing authorities that that is somehow bad for America.

So do you really think there is a fix to it?

But, again, that would eliminate the inability--and that is basically what we have had.

So we need to make sure that we are very competitive globally, and when we are competing against tax jurisdictions around the world that are willing to cut a deal, should corporations take advantage of that?

I do not recommend that we tax worldwide income, at least at the full U.S. tax rate.

But what if a business manager felt that was too onerous and couldn't they just divest themselves of those companies?

But in the end, Apple is selling a product, and so you are really talking about where do you tax the manufacturing income.

But, generally, if you are manufacturing in Texas, even though you might have produced a product in New York, you are probably going to be taxed--well, Texas may be wrong. Let us say Wisconsin.

So even the top 50 percent is widely dispersed, and those are large funds that also have a very diverse shareholder base in those funds.

I would point out--I think this is true--that if we ever do tax reform, if we ever do incentivize companies to start bringing some of that money back home...

So that is getting close to about $2 billion in total.

And they are looking at all this corporate structure, they are looking at all the transfer prices, and they are basically giving you the nod, saying that you are following tax law.

But I think Congress needs to face up to the issue and make some tough policy calls.

I think most economists would tell you that if you develop the technology in the United States then the United States would expect to get the lion's share or substantially all of the income with respect to that technology.