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News Link • TAXES: Federal

Steve Jobs held billions of dollars offshore. Was he 'unpatriotic' ?

•, Simon Black

What's more, Apple was running billions in profit through multiple Irish subsidiaries, neither of which were taxable by the US government.

Steve Jobs departed this life owning 5.5 million shares of Apple (and another 138 million shares of Disney, which employed similar offshore practices).

So his personal share of the untaxed offshore booty was obviously substantial.

Did this make him 'unpatriotic'?

Was the guy who revolutionized five industries and touched the lives of billions of people some nefarious traitor because he held so much money offshore?

Of course not.

Despite all the absurd, highly negative media attention centered on shaming companies and individuals who go offshore, it's one of the most sensible, rational steps anyone can take.

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