Despite iPhone profits, Apple now pays half of Samsung's corporate tax rate

After the huge tax cut that went into effect last year, and the one-time overseas profit repatriation fee, Apple's effective tax rate has fallen to just 14%. That's a far cry from the "we have the highest tax rate of all developed countries" arguments with which the tax legislation was passed.

It is still a huge chunk of money going into the government's coffers, as Apple's operating profits are astronomical, but the tax rate has also dropped the whopping ten points for Apple, compared to the previous fiscal year.

How does that ...