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Apple, Cisco, Pfizer, others lobby for special tax break
Apple, Cisco, Pfizer, others lobby for special tax break | Electronista
In short Apple and others who have a large percentage of their earnings overseas don't want to pay the 35% tax to get the money back into the USA. They want a one year tax holiday to get the cash back tot he USA. And in that year under their proposal, the tax rate for moving the funds would only be 5%.
I saw this and thought to myself. Hmmmm that's 30% Apple does not want to pay. Hmmmm have I seen 30% somewhere before? It sounds strangely familiar. .
Apple, Cisco, Pfizer, others lobby for special tax break | Electronista
In short Apple and others who have a large percentage of their earnings overseas don't want to pay the 35% tax to get the money back into the USA. They want a one year tax holiday to get the cash back tot he USA. And in that year under their proposal, the tax rate for moving the funds would only be 5%.
I saw this and thought to myself. Hmmmm that's 30% Apple does not want to pay. Hmmmm have I seen 30% somewhere before? It sounds strangely familiar. .