Update!!! September 1, 2016
Read the article referenced in the following tweet:
Outraged by Apple's tax dodge then https://t.co/PEjnAz6TIL
— U.S. Citizen Abroad (@USCitizenAbroad) September 2, 2016
You will find comments from Schumer, Levin, and Paul Ryan.
From the EU:
Irish tax rulings to Apple are illegal state aid. Effective taxation as low as 0,005 pct. #Apple has to repay up to €13 billion unpaid tax.
— Margrethe Vestager (@vestager) August 30, 2016
From the Jack Lew:
Jack Lew believes that the EU Apple tax decision means that EU is taxing income that ought to be taxed in the USA https://t.co/jmGkhhRYVQ
— U.S. Citizen Abroad (@USCitizenAbroad) September 1, 2016
On the hypocrisy:
— Sophie in 't Veld (@SophieintVeld) August 31, 2016
Oh my God! #YouCantMakeThisUP!
Have a look at the above video.
In the world according to Lew:
The idea that Apple’s European profits, should be taxed by Europeans, is to reach into the U.S. tax base!!! Only the United States should be able to impose taxation on U.S. companies.
Is this guy really this mentally challenged, or is he just “Paid the big bucks” by Obama (who is his intellectual “equivalent” (to pull a word out of the FATCA IGAs) to spew this hypocritical BS?
Has it not occurred to this member of the “Homelander Elite Corp”, that the whole purpose of the U.S. tax system is to dip into the legitimate tax base of other nations, and transfer the revenue and capital of other nations to the U.S. Treasury?
What does he think the effect of: PFICS, CFC rules, Subpart F, foreign trusts, the taxation of capital gains on Canadian homes, the taxation of RDSPs, etc. is?
Does he not understand that CBT enforced by FATCA is a declaration of war on other nations?
If you watch this interview, you are left with the impression that he actually believes what he is saying.
Leaving aside the issues in Europe, does this “person with blinders” not understand that the behavior of Apple and other companies is a direct result of the U.S. tax system, which features the highest corporate tax rates in the world? The policies that are forcing DNA citizens to renounce have parallels that are causing Corporate citizens to renounce/invert.
Does he not understand the the U.S. tax system directly discriminates against U.S. companies in favor of the companies of other nations?
And he goes on again about the “retroactive nature” of the EU decision:
This coming from the guy who wants to impose retroactive PFIC taxation on the mutual fund investments of Americans abroad.
This coming from the guy who heads the agency that will NOT commit to the view that the U.S. “Exit Tax” rules should not be imposed on Americans who relinquished U.S. citizenship prior to 2004.
These people are deserving of nothing but contempt, ridicule and scorn.
The sooner they are put out to pasture the better it is for the world.
Well, at least the EU tried to instill some reason in him …
Very good meeting with Secretary of the Treasury Jack Lew on the European economy and transatlantic cooperation. pic.twitter.com/XiQBa6STAg
— Margrethe Vestager (@vestager) July 13, 2016