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EU Launches New Power Grab, to Roaring Public Approval

by Wolf Richter, Wolf Street:

A “Back Door” to Fiscal Union

The Apple Tax is about a lot more than just Apple and the billions of euros in backdated corporation tax it purportedly owes to European governments. It even goes far beyond the question of how — and how much — central authorities should tax recalcitrant multinationals that make billions of dollars in profits on their turf but share few or none of the proceeds.

What is most at stake is the question of who gets to set the fiscal rules in Europe’s foreseeable future. One thing is clear: if Brussels gets its way, it’s not going to be the national government of each member state. And that could be very bad news, at a very bad time, for a number of European economies, in particular Ireland, Luxembourg, and the Netherlands.

“Total Political Crap”

The EU’s Competition Commission slapped Apple with a €13 billion retroactive tax bill. That money is apparently owed to the government of Ireland, its decades-long partner in one of the biggest tax-avoidance schemes of living memory. The Commission argues that the arrangement cooked up between Irish authorities and Apple’s tax lawyers and accountants represented illegal state aid, enabling the U.S. company to get away with paying an effective taxation rate on its European profits as low as 0.005%.

Naturally, Apple does not want to pay the money. Apple’s chief executive, Tim Cook, even went so far as to call the EU ruling as “total political crap”:

They just picked a number from I don’t know where. In the year that the commission says we paid that tax figure, we actually paid $400 million. We believe that makes us the highest taxpayer in Ireland that year.

The government of Ireland doesn’t want the money either, despite the fact that it could certainly do with it: at 128% of GDP, it boasts one of the highest levels of public debt in Europe, which is no mean feat these days. The EU ruling comes at a time of growing concern about the potential fallout from the decision by Ireland’s closest neighbor and second biggest single trading partner, Britain, to leave the EU, which according to some reports is hurting the Irish economy even more than the UK’s.

A “Back Door” to Fiscal Union

Irish Finance Minister Michael Noonan told Irish broadcaster RTE on Monday that: “As far as I am concerned there is no economic basis for this decision.” He added: “They [the European Commission] don’t have responsibility for taxes and they are opening a back door through state aid to influence tax policy in European countries when the European treaties say tax policy is a matter for sovereign governments.”

As a Member State of both the EU and the Eurozone with a “business-friendly” environment that is brimming with local, English-speaking talent, Ireland is an enticing base for global multinationals. Or at least was.

Now that the Commission appears determined to use the popular canard of corporate tax avoidance as justification for expanding its own powers through the homogenization of taxation rules and practices across the 28-member Union — a vital first step toward the long-cherished goal of fiscal union — Ireland’s days as a grudgingly tolerated tax haven on the EU’s periphery are almost certainly numbered.

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1 comment to EU Launches New Power Grab, to Roaring Public Approval

  • anon

    “What is most at stake is the question of who gets to set the fiscal rules in Europe’s foreseeable future. One thing is clear: if Brussels gets its way, it’s not going to be the national government of each member state. And that could be very bad news, at a very bad time, for a number of European economies, in particular Ireland, Luxembourg, and the Netherlands.”

    ‘Total Political Crap’. Yep. TOTAL Political & Fiscal CRAPPOLA, is what the people of the ‘EU’ will get, IF the Khazarian Mafia (i.e., La Kosher Nostra International) gets its way in Brussels.

    (For ANYONE out there, who doesn’t comprehend what is meant by the “Khazarian Mafia”, or “La Kosher Nostra International”, then continue reading below…)

    Who, exactly, is behind the push for “globalism”, in the West? Who, exactly, do the BUSH Family, the CLINTON Family, and the Obamas work for? Find out: (Here are Obama, Queen Elizabeth II, and Prince Phillip driving around in a huge, gas-guzzling SUV: Doing Their Part For ‘Climate Change’! Why, exactly, did Obama meet with Queen Elizabeth II, and Prince Philip to make a speech to Brits to REMAIN in the ‘EU’, rather than ‘Brexit’?, here: https://www.youtube.com/watch?v=elyoWRpohK4)

    _THE CONSPIRATOR’S HIERARCHY: THE COMMITTEE OF 300_ (4th edition, Revised & Updated), by Dr. John Coleman (Former MI6, British Intelligence).

    I procured my copy, here: http://coleman300.net/the-committee-of-300.aspx

    BUY IT. READ IT.

    WHO, EXACTLY, FINANCES the “Committee of 300” “Globalists”? FIND OUT, HERE:

    X22 Report: Central Bankers Can’t Stop The Economic Collapse Instead They Will Cover It Up http://sgtreport.com/2015/01/x22-report-central-bankers-cant-stop-the-economic-collapse-instead-they-will-cover-it-up/

    Be sure to read all the comments. Follow all links.

    For further reading:

    Remember, that when you talk about “globalism” and “US” “Neo-cons”, like former NYC Mayor Rudy Giuliani (and Donald Rumsfeld, Dick Cheney, Paul WOLFOWITZ, etc.), you are talking about multi-national or extra-national corporations, and their OWNERS (and Boards of Directors & Investors & Minions!), and Western International Central BANKS are the corporations that are arguably AT THE TOP OF THE SOCIOECONOMIC PYRAMID, i.e., at the top of the Western power structure. These banks are predominantly run by self-proclaimed “Jews” (In the ‘E.U.’, Rothschilds, Warburgs, Schiffs, Lazards, Israel Moses-Seifs, Sterns, Speyers, Seligmans, and in the U.S., Kuhn-Leobs, Goldman-Sachs, Lehmans (& Rockefeller) families, among others).

    Indeed, it’s these “elite” “Jews” which control the ENTIRETY of Western Civilization, via their control over the Western Central Banking System (along with the entire U.S. Government, all it’s most important agencies, the Mainstream Media, Hollywood, and the U.S. Public “Education” System, and LEGAL SYSTEM). You only need to read enough HISTORY, to find this out. CHRISTIAN ZIONISTS especially need to WAKE UP! to reality ~ soon ~ if they wish to ‘Make America Great Again’, and prevent its descent into chaos! Once the rest of the world turns its back on the W.I.C.B./”Committee of 300″/”Globalists”/”elite” “Jews”, what do you suppose “they” will do right here at home, in the ‘E.U.’, and in the U.S.? They will become more RAPACIOUS, than ever! Police state, here we come?

    What REALLY should concern us all, is what will happen when the rest of the world turns its combined back on the “elites” of the West, and the USD/FRN (“Federal” “Reserve” Note) loses its standing as the sole world reserve currency? (Which, as anyone who has been paying attention would already know, is ALREADY happening, around the world.) Question: If the “globalists” of the West can’t PLUNDER the rest of the world, for its natural resources, outside the West, then who will “they” be attempting to completely subjugate and FURTHER plunder? Answer: Westerners. It’s becoming CRITICAL, that everyone in the E.U., U.K. and the U.S., Canada, Australia, New Zealand, South Africa (remember the Anglo-Boer War? What was THAT all about?) ~ it’s CRITICAL that people in these areas and beyond, KNOW WHO EXACTLY ARE THE ‘GLOBALISTS’, AND WHAT IS THEIR AGENDA! You can do that by reading Dr. John Coleman’s book, above, and the other link provided above.

    For further reading/viewing:

    9/11 Suspects: Rudy Giuliani
    http://sgtreport.com/2016/09/911-suspects-rudy-giuliani/

    EU Globalists are About to have their Doors KICKED Down!
    http://thewealthwatchman.com/eu-globalists-are-about-to-have-their-doors-kicked-down/

    “A Message To The Globalist Scum: Your Days Are Numbered”
    http://sgtreport.com/2016/08/a-message-to-the-globalist-scum-your-days-are-numbered/

    Read all the comments. Follow the links.

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