Posted on 07/25/2014 6:09:46 AM PDT by SeekAndFind
Sometimes even journalists get it right. My essay about companies incorporating overseas to dodge taxes, “Positively Un-American,” featured in our last issue, clearly struck a nerve. Since its publication, these corporate “inversions”—a euphemism for “desertions”—have taken on a life of their own.
Barely a day seems to pass without a corporation announcing that it plans to leave the U.S. to save taxes but wants to continue having its business, its employees, its directors, and especially its top executives benefit from our rule of law, democratic system, and the other great things that make America America. It just doesn’t want to pay its fair share for those things. This makes me angry. Judging from the reaction I’ve gotten from readers, it makes a lot of other people angry too.
What to do? In an ideal world I would slap serious penalties on inverters that do business with the federal government, and require them to underbid genuinely U.S. competitors in order to get federal business. Medtronic and Walgreen, that means you.
But we have to deal with what we have, not with what I would like to have. So what should we do? For starters, we shouldn’t make this political, because this is an American problem, not a Democratic or Republican problem.
(Excerpt) Read more at fortune.com ...
So. Sloan’s granddaddy must have been Benito. Fascist.
That scum Levin has a brother in congress too? Double damage.
>> this is an American problem, not a Democratic or Republican problem.
Democrats and the GOP establishment ARE America’s problem.
This is the type of article you see written in Third World trade rags (which is pretty much what “Fortune” is). Foreign companies come in and set up in OUR country and use OUR resources but don’t want to pay OUR taxes. Of course not. Create a rational tax and regulatory system and then then will. The US used to have one. We don’t anymore. Its sad but that is the reason companies are leaving.
Typically, the writer is a liberal a** who does not understand the issue.
The US has the highest corporate tax by double- 40% - in the industrialized world. Additionally the Feds charge domestic companies tax on all foreign sales causing a double hit for international US companies.
These companies can and will pay their fair share, for US sales. They will, however, receive the benefit of having their tax on profit halved and will not be required to pay taxes to their home country on sales outside their home country. Simple, huh?
Bring back American production.
Just saying.
Before you can answer that, better ask the question; “WERE COMPANIES CREATED FOR THE STATE OR FOR PROFIT”? If you want companies to remain in your state or your country, you have to be “BUSINESS FRIENDLY”. That means you shouldn’t tax them to the point where they can’t make a decent profit. My advice to every LIBERAL, SOCIALIST and COMMUNIST politician is to lower their taxes, and you’d be surprised how many companies would come running back. And I would also advice the same people to curtail their desires to control these companies with their incessant “RULES” & “REGULATIONS”.
They didn’t abandon America. America abandoned them. Who is John Galt?
Look I am a big fan of Ayn Rand’s, but John Galt was from a bygone era.
America has given up global leadership in manufacturing. China now leads.
We need to bring back American production.
"Fair share"
What a putz. The United States has the highest corporate income tax in the civilized world.
I don't blame these companies for trying to keep more of what they earn rather than give it to the US government for "redistribution"
America wasn't built on cheap labor. It was built on innovation and productivity. American continues to lead in both areas and that is where the jobs are. But manufacturing isn't. Go to parts of Europe, Asia or areas of Mexico and I can produce at 1/3 the cost of the US. We're a global economy. You can't shove that back into Pandora's box.
I believe conservatives need to lead, American production.
Stop buying everything from every other country. We have been de-industrializing, our very own nation now for over a complete generation.
Bring back jobs.
What is the average tax rate corps actually pay?
You’re replying to a broken record.
Bleat. Bleat. Bleat.
Fix the US economy - de-regulate, lower taxes, and boost infrastructure - and the companies will stay.
You want socialism, you got socialism.
Yep. Even our business journalists are socialists.
It’s rank property confiscation and enslavement if you force American production to stay or return.
The solution is fixing our tax system. (E.g., reducing if not eliminating corporate taxes.)
you first. Try and find a SINGLE product where every component, sub-component, packaging, etc. is wholly produced in the USA. There isn’t a single one out there.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
