Jack Lew Could Really Use That $14.5 Billion, Brussels

Jacob J. Lew via Wikimedia Commons

So mad he's forgotten all of his penmanship skills! via Wikimedia Commons

Fannie Mae and Freddie Mac ain’t paying out like they usedto, and if the Europeans are going to cravenly grab $14.5 billion that their silly laws say belongs to Ireland—in spite of the fact that Ireland doesn’t want it!—they should know that it comes straight out of Jack Lew’s pockets (because American legislators haven’t been able to agree on anything tax-related in at least 240 years). And that’s damn-right unfriendly, if he does say so himself.

“It reflects an attempt to reach into the U.S. tax base to tax income that ought to be taxed in the United States,” Mr. Lew said….

“What I don’t think is right is for these issues to be addressed in a way that undermines the spirit of economic cooperation and inconsistent with well-established principles of tax laws,” Mr. Lew said.

Treasury Secretary Lew Criticizes EU Decision to Issue Apple $14.5 Billion Tax Bill [WSJ]
EU Apple Tax Ruling Stirs Fears of Revenue Loss in U.S. [WSJ]