Reply to post: Re: I'm pretty sure

Cooky crumbles: Apple mulls yanking profits out of Europe and into US

P. Lee Silver badge

Re: I'm pretty sure

>Taxing a company for having more money in the bank just seems bizarre.

Corporations aren't taxed on "money in the bank" any more than people are. They are taxed on net income.

With zero corporation tax, you can store money above your needs in a corporation, go traveling for a year (becoming non-resident) and then bring your money back into the country as "wealth" rather than income, or simply retire and never go back to the US. Think of it as adding 35-40% to your pension every year.

The US may think its jurisdiction is "the world" but other countries do not.

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