He always does that kind of thing.
They can both pretty much wait indefinitely or at least until they've worked out a plan in the longer term for how to better handle corporate profits that either originate overseas or end up there in the form of payments to wholly owned subsidiaries. Just declaring a tax holiday every few years and putting off a long term solution isn't a great idea.
I was going to let it go, figuring he didn't get the bigger picture, but if he has a defender I'll clarify: He replied to the ideas for what Apple could buy with the cash as if they were reasonable ideas that might get shot down for one reason or another. The correct response is that they are idiotic ideas for a shareholder-return maximizing company. Might as well suggest that they buy WalMart so they never have to worry about distribution again.
And yes, the USA needs to stop with the ridiculous tax holidays. It only encourages companies to game the system. Come up with a REASONABLE tax regime and put in place real incentives to make sure that taxes are paid, not avoided. This should be the goal of tax policy. Thankfully this year we have a real chance at some real tax law overhaul, and hopefully we'll join the rest of the civilized world and stop taxing profits that were earned overseas. Whether our idiot politicians will actually get around to common sense things like that, I doubt, but one can hope.
Edited by cameronj - 12/3/12 at 5:51pm