Posted on 09/12/2014 7:58:38 AM PDT by SeekAndFind
It was supposed to be the populist issue that would enrage the middle class and set them with pitchforks against big corporations who were being "economic traitors" by moving their headquarters overseas in order to avoid the high corporate taxes in America.The so-called "inversion" issue would allow the Democrats to ride a wave of popular disgust against Republicans to victory in November.
Instead, as Politico points out, the issue is so much of a dud, that the Democrats have quietly de-emphasized much of the white hot rhetoric the president has used to portray corporations as "un-American" who move their operations overseas.
Meanwhile, the GOP isn't losing any points by pointing to America's sky-high corporate tax rate as the reason for most inversions, and that tax reform is necessary.
The one recent high-profile corporate name to consider the move, fast-food chain Burger King, did so with the stamp of approval from top White House ally Warren Buffett. Almost no one is talking about the issue on the campaign trail. And there is little chance legislation will advance or even come to a vote on Capitol Hill before the midterm elections. Meanwhile, some influential tax policy analysts suggest any of the administration’s possible unilateral actions could make the problem worse, be deemed illegal, or wouldn’t have much impact at all.
At the same time, Republicans seem increasingly comfortable arguing that companies looking to “invert” by moving their official address out of the U.S. highlights the disaster of the American Tax Code and the need for a complete overhaul, not another one-off fix sure to be shredded by corporate accounting wizards.
(Excerpt) Read more at americanthinker.com ...
Didn’t Ted Kennedy start this overseas tax dodge for his family fortune?
They expected the voters to blame Republicans when corporations that donate to Democrats move their HQ’s?
Another liberal policy action taking a hit...
Unprovoked machete attack by illegal aliens caught on camera in Chicago
Let’s ask Gengish Konn John Kerry about his yacht tax dodging!
My unanswered question is:
Are Burger King and all other companies complying with all tax laws?,,are they paying all taxes legally owed?
If we want to discuss whether this particular provision of tax law creates incentives to move a headquarters or operations, we can discuss that.
But to demonize a company for legally structuring their business activities in a certain way is not f@air, in my opinion.
To listen to these liberals you would swear that these companies pay no taxes at all , and willfully violate tax laws and get away with it.
I was formerly employed by a major corporation, and worked in the finance area. That company was audited by the IRS every single year. The IRS audits many companies all the time.
It seems to.me we can discuss the incentives in our tax code. But if a company is in legal compliance, we should not have politicians questioning their patriotism.
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