Apple (like many giant, multinational corporations) has been avoiding paying the taxes they owe to the country by setting up foreign "subsidiaries" in tax-haven countries, and moving jobs out of the country. Now they want a special tax break to reward them for doing that.
Google, Amazon, Starbucks, every other major corporation, and every big Wall Street bank, are sheltering as much of their U.S. profits abroad as they can, while telling Washington that lower corporate taxes are necessary in order to keep the U.S. "competitive."
In recent weeks, citizens in many countries have been learning more about one of the biggest and most dangerous scams in the world: the global web of tax havens that U.S. and European politicians and bankers have nurtured over the years. The situation is absurd, dangerous and out of control.
Awareness of the unfair tax code that relieves a burden from those who have the most and shifting it to those who can barely scrape by has spread all over America, and Congress will soon have no choice but to acknowledge it.
Wall Street banks and large companies love America when they need corporate welfare. But when it comes to paying American taxes or American wages, they want nothing to do with this country. That has got to change.
What irritates me is the extent to which Noonan is still out of touch with reality when it comes to the Republican brand. As long as Republicans can't see that people making $400,000 a year are actually rich, they will have a hard time building a new constituency for their party.