Introduction …
The U.S. tax system is premised on the assumption that it can levy taxes on economic activity in other nations. This simple premise applies to both corporations and to individuals.
In the case of individuals: The taxation of economic activity in other nations takes place at the time that the money is earned.
In the case of corporations: The taxation of the economic activity, the taxation takes place when the money is returned to America.
In any case, the United States discriminates very strongly and punitively against all things American. The views of Apple CEO Tim Cook has some interesting comments on this issue.
Apple CEO Tim Cook interviewed on 60 Minutes 2015 …
”This is a tax code, Charlie, that was made for the industrial age, not the digital age,” he said. “It’s backwards. It’s awful for America. It should have been fixed many years ago. It’s past time to get it done.”
__________________________________________________________________________________________________________
Continue reading