Treasury battles the EU for tax money

Both the NY Times and the WSJ are telling us how upset the Treasury Department and Congress are that the EU has the gall to go after Apple’s money before the U.S. can get it.  They say Ireland didn’t collect enough.  The most humorous quote is by Senator Charles Schumer on the front of the WSJ.  He actually said the EU’s action are a “cheap money-grab” that targets U.S. business. Just a few months ago, the Treasury Department unilaterally (without going through Congress) rewrote tax law to prevent Pfizer from merging with Allergan to move its tax headquarters to lower-tax Ireland.  I did not see Schumer call that a cheap money-grab that targets U.S. companies, even though that is exactly what it was. Something you won’t see in any of these discussions among the EU, the Treasury Department, and Congress is to allow Apple, Pfizer, and their shareholders to keep more of the money they earned when they, not the government,...(Read Full Post)
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