jpolster

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jpolster
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  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    jpolsterjpolster
    redefiler said:
    Ireland has made deals like this since the mid 20th century with the airline industry.  It's an overwhelmingly agrarian based economy, as an incentive to attract more diverse industries, they offer tax incentives.  

    For the slower witted who find Cook's comments confusing or outrageous, this is because y'all ignorant of the finer details, and go shooting your fool mouths off like moralizing Puritan zealots, before learning a single thing past your lizard brain reflex.

    This is Irish tax law, and Apple has fully complyied with it.  This is also a long standing practice, and the EU hasn't said a peep about this since the mid 1980s?  Fishy, considering Tim Cook has been meeting with both Democrats and Republicans, while talking about finding a way toward patriating those foreign earnings.  

    Translation for the still confused, angry and dim:  US tax code is broken, and foreign revenue is essentially taxed twice, the second at an outrageous level.  Apple's been working to reform that and get foreign assets home to the US, so pretty obvious Cook thinks the EU timing is suspicious (psssst... its been over 30 years).  Apparently the Secretary of the US Treasury said all this first.  Hardly controversial, unless of course you've replaced rational thought with poorly thought out, collectivist dogma. 
    Don't forget that Ireland like all EU countries have to comply with EU laws and are not totally independent. The EU has subsidized Ireland a lot and helped them grow their economy over theist years, even saved them from bankruptcy. In any case sure Ireland could leave the EU but what would be the result? Apple would or nay other company could not do European business from there anymore as any law would just apply to revenue they have in Ireland (4.8M people). No European subsidize anymore etc. Not a good deal for them
    In the end we do need a new tax code most relevant countries that profits are taxed where they are generated. That would solve most of these issues

    zimmermannronnfred1357

  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    jpolsterjpolster
    Interesting that there are people here calling the EU socialist if all it does is pressing for normal tax rules to apply to everyone no matter if the company is big or small. BTW those taxes are way lower then in the US, so is the US socialist?
    Oh and it appears that the rules are not imposed now but have existed all along, just that Ireland and Apple found ways to work around them which appear to be illegal according to European laws.
    Lets see what will happen. As always there will be a compromise but I think its great that this problem has finally been voiced openly and can only hope the the major countries will agree to close the loopholes!

    singularityrune66sensizimmermannronnpropod