The whole point is that earned income should not have to be repatriated to be taxed. If I as a citizen have a bank account in Switzerland that accepts my foreign income then I pay tax on that money in the year it was earned. The exact same rules should apply. Just because the bank account is outside of the US should not make a difference.
No other country taxes it's citizens this way. Do you think if a US citizen lives and works in Germany, they should still have to file and pay US income taxes even though they were living in Germany and earning a salary working in another country? That makes no sense to me.
If Apple pays double taxes on iPhones sold in Europe to European citizens, after Apple pays taxes to the EU, that's effectively a tax by America on citizens of the EU. The phones are made in China, shipped to Europe and sold to citizens of the EU for Euros, never having stopped on US soil, and being taxed in the EU. Why does it make sense for the US to apply a tax which effectively would amount to an increased tax on purchases by citizens of another country?
> The whole point is that earned income should not have to be repatriated to be taxed.
Agree. They used the double Irish paying basically no income tax there. Then were trying to move to Jersey (the island). This isn't new though and other companies were doing it. Is there any realistic short term hope that we'll finally close all the loopholes and the Apples and Googles of this country will start paying their fair share of taxes? Probably not.
But I don't see why not at least be happy with them paying some taxes and investing the money domestically? Yet everyone here is upset. It is not ideal, I'd rather have universal healthcare, basic income even, I'd rather these companies not be able to do these schemes and pay their fair share of taxes, but it is what it is, why not be happy for some positive thing happening.
My guess is that the path outside of the legislature doing anything is through the courts. Since corporations are citizens there must be some kind of constitutional law since human citizens don’t get the same benefit.
I haven't thought of the courts. It might be interesting to see what would happen. Fighting with a hundred billion dollar company in court is tough though. The have infinite legal resources basically.
And yeah, I see the point about it being considered a person but that is mostly what is called "legal fiction" (it is actually a technical term, not just me being silly https://en.wikipedia.org/wiki/Legal_fiction). And that only goes so far. Mostly to benefit the corporate entity not the society. I'd like to put some companies in prison for life for destroying the environment or poisoning its workers but it just won't work. It would be nice to see how far it would go though.
