Opinion – Europe’s ‘unfair’ Apple tax ruling sparks US anger – BBC News

European flag outside the Commission

European flag outside the Commission (Photo credit: Wikipedia)

The BBC reports that the US Treasury has criticised as ‘unfair’ tax rulings by the European Commission, following a demand that Apple hands over €13bn in unpaid tax.

Source: Europe’s ‘unfair’ Apple tax ruling sparks US anger – BBC News

Similarly, the Irish Finance minister immediately said that Ireland would appeal.

Personally, I think the ruling is very fair and should be seen as a warning to other large businesses trading in Europe that the days of near zero tax are over. This is an example of where the might of the EU is able to stand up for justice and fair competition. Large corporations have often been above the law for too long. It’s time for corporations to pay their just dues.

Thoughts?

U.S. Treasury starts last measures to preserve borrowing authority | Reuters

English: Organization of the United States Dep...

English: Organization of the United States Department of the Treasury (Photo credit: Wikipedia)

This is an amazing, MUST-READ article from Reuters. Check it out!

U.S. Treasury starts last measures to preserve borrowing authority | Reuters.

The language in this article is really stark. The political “savvy” expect the Republicans in Congress to blink and back down, giving President Obama and the Democrats a clear win on Obamacare.

BUT for ordinary Americans, especially Government employees, this is is a seriously worrying time and there will be real fear.

However, the potential damage implicit in the Reuters article is global, of catastrophic, melt-down proportions, and will be seriously irritating political leaders, central bankers, investors, bankers and ordinary people around the World.

Following Russia’s recent intervention on Syria, this has started me thinking about the new, multi-polar World, less dependent US hegemony.

Let me turn this to an open question:

Can you envision in the new multi-polar World order the G20 asking the US to clean house and not wash its dirty washing on the global stage?

Any thoughts?

 

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