08-31-2016, 08:17 AM
(08-31-2016, 06:58 AM)gstanford Wrote:(08-31-2016, 03:23 AM)dmcowen674 Wrote: 8-30-2016
US taxpayers could end up covering Apple's back taxes in Ireland
European authorities have clamped down on a special deal between Apple (AAPL) and Irish tax authorities, saying the arrangement uniquely favors Apple and is unavailable to other companies. Nixing the deal—which lowered taxes on much of Apple’s foreign income to virtually nothing—will force Apple to pay taxes in Ireland at the higher rate other companies pay. The bill: about $14.5 billion for the past 10 years, plus interest.
But Apple may get reimbursed for all of that by an unlikely benefactor: the US taxpayer. “It’s extremely possible the US taxpayer will have to pay this bill,” says Stuart Gibson, a former government tax official who’s now editor of Tax Notes International. “For every dollar in tax Apple has to repay in Ireland, they may get to reduce their US tax bill by $1.”
What a load of bullshit that last paragraph is. ALL companies need to pay ALL of their taxes in ALL of the countries that they do business in.
Any CEO who argues otherwise should be stuck in front of the firing squad/strapped into the electric chair.
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"Kill all those rich bastards with their fancy stuff! Kill them all!!!"
-GCeasar, Organizing his gorilla muscle squad to attack the rich folks