The only reason to be in business is profit.
Huh - so that is corporate citizenship version 2011?
When corporations became international they lost the concept of patriotism and they went from an asset on our nation's balance sheet to one of liability. The CEOs... hungry for profits will now invest in China before the USA. Their efforts will make China more powerful than the USA. That makes said corporations more of an enemy than ally. That makes them subversives to our national interests because they are undermining our nation.
We regularly expect our fellow Americans to have a sense of patriotism and willing to give their lives in service to country, but we don't expect the international corporations that now have a bigger say in our elections based upon the anti-conservative recent Supreme Court ruling, to do the same?
Sorry it doesn't make any sense to me, for a USA business to put profits before nation. In WW2 they would have sent those types to a firing squad at Ft Leavenworth and called them traitors. They should start doing the same to the globalists that connive move our economy offshore.
My father started the business durring the depression and always ran it for profit, never for anything else!!!
There is no other reason to be in business!
Under Mr. Obama's plan, "patriot employers" qualify for a 1% tax credit on their profits. To finance this tax break, American companies with subsidiaries abroad would have to pay the U.S. corporate tax on profits earned abroad, rather than the corporate tax of the host country where they are earned. Since the U.S. corporate tax rate is 35%, while most of the world has a lower rate, this amounts to a big tax increase on earnings owned abroad. Put another way, U.S. companies would suddenly have to pay a higher tax rate than their Chinese, Japanese and European competitors. According to research by Peter Merrill, an international tax expert at PriceWaterhouseCoopers, this change would "raise the cost of capital of U.S. multinationals and cause them to lose market share to foreign rivals." Apparently Mr. Obama believes that by making U.S. companies less profitable and less competitive world-wide, they will somehow be able to create more jobs in America. He has it backwards: The offshore activities of U.S. companies tend to increase rather than reduce domestic business. A 2005 National Bureau of Economic Research study by economists from Harvard and the University of Michigan found that more foreign investment by U.S. companies leads to greater domestic investment, and that U.S. firms' hiring of more offshore workers is positively, not negatively, associated with the number of American workers they hire. That's in part because often what is produced overseas by subsidiaries are component parts to final, higher-value-added products manufactured here. Obama's 'Patriot' Act http://online.wsj.com/article/SB120407121574294919.html