I must ask, why does anyone in business trust progressive socialist governments to do right by the private sector? It ‘s unconscionable to me that the folks on Wall Street are such large donors to the liberal progressive left. And why would Wall Street be forking over hundreds of thousands of dollars in speaking fees to one Barack Obama who made it his raison d’être to demonize them as “fat cats?”
But here we go again. The European Union, a progressive collectivist government entity, has targeted another American company.
As reported by RT.com (that’s Russian Times. Oops, I best be careful, the left will accuse me of collusion with Russia), “In the latest crackdown by EU authorities over unfair tax deals, US tech company Amazon has been ordered to pay €250 million ($294.38 million) in back taxes to Luxembourg.
EU Competition Commissioner Margrethe Vestager said Luxembourg’s illegal tax benefits to Amazon had allowed almost three-quarters of the company’s profits to go untaxed. Amazon paid a quarter the tax compared to businesses, she added. “Member states cannot give selective tax benefits to multinational groups that are not available to others,” said Vestager.
Amazon denied the accusations, saying it did “not receive any special treatment from Luxembourg.”
“We will study the Commission’s ruling and consider our legal options, including an appeal,” said an Amazon spokesperson. Luxembourg’s government said, “As Amazon has been taxed in accordance with the tax rules applicable at the relevant time; Luxembourg considers that the company has not been granted incompatible state aid.”
The tax deal between Luxembourg and Amazon was struck in 2003. At that time Jean-Claude Juncker, the European Commission’s president, was the prime minister of Luxembourg. The Commission launched the Amazon investigation in 2014, claiming it had suspicions the arrangement had broken EU rules. Vestager also announced plans on Wednesday to take Ireland to court over its failure to recover €13 billion in unpaid taxes from Apple.”
First of all, ain’t this just the typical liberal progressive hypocrisy? The current EU President was the Luxembourg Prime Minister when this deal was done. It would appear this fella will do whatever is consistent with benefitting the organization he leads. Now, many of you will say, so what Col. West? Here’s the so what: imagine if our federal government came down on a sovereign state here in the U.S. for offering a tax break for a business to locate in their state. Let’s say what would happen if California were to sue the state of Texas for having a better tax structure resulting in a business, hmm, like Toyota relocating from California, a high tax state, to Texas. And we all know film production facilities are always looking for states that provide them with a tax benefit, hence why you have some production companies that have moved to Wilmington, NC and Atlanta GA…again, leaving California. This is what business does — looks for the best place that enables them to have greater profit in order to create more economic benefit for their employees, greater economic growth, increased dividends, and positive reports for shareholders.
The reason why American companies went to Europe is because they had a better corporate/business tax rate. This is called corporate inversions and it’s a logical reaction to a country, like America, which now has the highest corporate/business tax rate in the world. But now, the global leftists have coalesced and colluded to seal off any escape for businesses. Apple was hit up last year because of the low rate offered by Ireland, and now the EU wants those tax revenues. And the growing company we know as Amazon is being taken to task…you know, owned by Jeff Bezos, who owns the Washington Post, and is a major liberal progressive donor. I find it rather humorous when the left eats their own, and this is not a coincidence.
The global leftists are concerned that if the United States does lower its corporate/business tax rate as well as offer a one-time eight to ten percent tax rate repatriation retroactive to 1 January 2017, they’ll lose these resources they can tax for themselves. The global progressive movement wants to corner these profits and preclude it from having any safe harbor.
So what the EU is seeking to do is bring in the cash for themselves before it can escape back to America for our economic growth. It seems to be that the EU had no issue with sovereign nations offering and negotiating with private sector companies on tax rates until a conversation in the United States arose about corporate funds repatriation and a lower corporate tax rate. Nothing infuriates the progressive socialist left more than not being able to put the Habeas Grabus on other people’s money, their earnings. This is why the GOP-led Congress should have been Johnny on the spot first thing this year in passing corporate tax reform and passing a corporate repatriation proposal.
The leftist movement isn’t just something existing here in America; it’s global. And I’m quite sure there are conference calls going on, probably led by George Soros and his ilk, who are looking at the means by which they can counter and undermine any pro-economic growth agenda for America. You NEVER heard about the EU seeking these actions from 2009-2016 whilst Barack Obama was pummeling businesses with his onerous tax and regulatory policies. Remember, it was Obama who gave us the true liberal progressive perspective on the private sector: “If you own a business, you didn’t build that.” Yet there were enough foolish people in the United States that rewarded him with a second term as president.
So, who will be the next American company that the EU will assault and demand large sums of taxes? I can bet they’re in the planning stages for the next announcement. Apple, Amazon, y’all need to wake the heck up and stop supporting these folks who will destroy your business for their ideological agenda. The left embraces crony capitalism, they want to decide who gets to be successful. But what is somewhat laughable, is why do folks like Tim Cook and Jeff Bezos drink the poisonous elixir of progressive socialism, and then believe they won’t get sick?
These fellas may have lots of book learning, but they ain’t got a damn bit of common sense…as the ol’ folks down South would say.
[Learn more about Allen West’s vision for this nation in his book Guardian of the Republic: An American Ronin’s Journey to Faith, Family and Freedom]