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

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

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.

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.

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

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

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

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?

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

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...

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.

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

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

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

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?

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

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

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.

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

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

Can you describe your shareholders, in general?

Thank you, Mr. Chairman.

I think a sunset committee is a great idea. I have been proposing one since I got here.

I was kind of surprised at the implementation rate--12 percent implemented, 66 percent partially implemented--but I am not really seeing the dollar savings.

So, Mr. Chairman, I think the way we need to do this is we need to pass a budget with those recommendations attached and remove the dollars that those recommendations say we can save, and I think that is how you get the thing done.