An IBT Editorial: Apple Now, Google, Amazon Next? Why EU Hates Successful U.S. Firms.
Taxes: The European Union’s laughably misnamed “competition commission” has slapped a $15 billion penalty on Apple for supposed back payments of taxes. This is nothing more than a cash grab by money-hunrgy Eurocrats, and is Exhibit A in why the EU is failing.
We’ll spare you all the dry technicalities of Apple’s case because, in fact, the EU is going after a whole slew of mainly U.S. companies that do business there — including Google, Amazon, Starbucks and McDonald’s. The reasons in each instance are as varied as the companies themselves.
In the meantime, the EU has investigations going on just about every major successful U.S. company doing business there. But companies will only take so much abuse. Sadly, the EU’s socialist-leaning rulers show no signs that they get it.
It is the quest for gold and burning the bridges on the path to wealth. It is the appeal of socialism. It is the idea that money is found and discovered and must be taken from those that have it. The problem is that wealth is created and taking it from those that have it destroys the machinery that creates more of it.