There’s scant public sympathy for multinational corporations shedding their tax burden by eliminating American jobs and choosing to pay foreign taxes instead.
We need to lower our domestic corporate tax burden but Corporate America should not kid itself thinking Americans find their actions admirable. They don’t.
“Corporate America should not kid itself thinking Americans find their actions admirable. They don’t.”
Are you a thinking American? It doesn’t seem like it.
52 posts before someone even BEGINS to address WHY companies are leaving America.
And that is a HUGE part of the problem, folks.
Most of America supported Obama, and a large enough portion of that support voted for him to put him in office. So, you are correct that 'Americans' don't find inversion companies' actions admirable.
I am a conservative American, and I don't want US companies going overseas. I want their jobs, productivity, creativity, etc. to stay here. I'd prefer we lower our corporate tax rate to zero and institute a fair tax.
On the other hand, a lot of these companies, I think, are simply getting just desserts so far as taxation is concerned, for they, too, have proclaimed a 'liberal lite' line along with the Chamber of Commerce. Many of them contributed to the Obama campaign. Many of them were silent when the discussion about the rich paying their 'fair share' raged.
I have no great sympathy for them, and, in fact, if I could identify those particular companies, I'd go out of my way to make it hard for them to do an inversion.
They are hypocrites. I'd call it the hypocrisy tax.