Skip to comments.(Exempt) Obama: Offshore 'tax inversions' are unpatriotic
Posted on 07/26/2014 9:55:40 AM PDT by LibloatherEdited on 07/26/2014 9:57:18 AM PDT by Admin Moderator. [history]
WASHINGTON (AP) — President Barack Obama says a loophole that lets companies dodge U.S. taxes by moving their headquarters overseas is unpatriotic.
Obama is denouncing "tax inversions" in his weekly radio and Internet address. He says companies are essentially renouncing their citizenship to avoid paying their fair share.
(Excerpt) Read more at news.msn.com ...
Obama wouldn’t know patriotic unless it bit him in the ass, which I hope it soon does.
Hey Obama, the companies didn’t make the rules.
If you want them back, make it in their best interest to come back. And I’m taking about a carrot not a stick.
Look up all the companies that support Obama. Most of the leftists grab at tax advantages when they can.
G.E. (owns CNBC) paid zero taxes.
Wasn’t it Ted Kennedy that started this legislation to protect his boot legging based trust fund.
Hmmm...stealing from taxpayers (most of which have stocks in their 401K’s with crippling, world’s-highest corporate tax rates), a high capital gains tax, forcing people to stay in your country (Berlin Wall, Soviet exit visas), and preventing re-investment in the US seems even more unpatriotic.
In before the ‘bring jobs back. Just saaayyyin’.’
I guess the next step is for me to be all up in arms about the corporations not ‘paying their fair share’ so that I’ll forget all about that other unpatriotic issue of the open southern border.
Rather than motor mouth, Obama should have his people research the loopholes he doesn’t like, and find out who wrote the legislation, who voted for it, and who signed it into law. THEN go on the attack!
So many problems to fix, so little time.
I guess the taxpayers are going to have to buy King Barry a new refill for his pen.
Straight out of Atlas Shrugged. Wesley Mouch and his ilk would be so very proud.
What many fail to realize is that most of these companies have been calling themselves “multinationals” for years. They have expanded so much overseas that some have greater sales outside the US and larger profits overseas than the US. If you make 60% of your profit overseas...then you are better off being organized as a non-US company. Just the facts of life that the management and shareholders can’t ignore. Either the US changes their tax laws to be competitive, or they institute currency and capital controls that will just further make us into a Banana Republic...locking companies in and out of the country.
We are getting close now.
He called President Boosh unpatriotic for increasing the debt by trillions.
He’s since admitted that he didn’t really give a sh!t and that it was pure partisan politics.
Obama lies like a Stalinist.
Worst example in his I HAVE A TAX speech is that he blames our declining military on these “unpatriotic” ‘tax cheats’. He’s decimated our military by willful design.
I loathe red diaper doper babies.
Next DNC talking point, companies that flee California to move to Texas are “unpatriotic”....
Then lower the taxes, idiot.
All the anti-business regulations spewing forth from the sitting president’s pen; all the anti-business rhetoric coming from any Democrat; all the regulations being sprung by the EPA; all of which are anti-American, and why?
The business of America has always been, before this decrepid Queer-In-Charge usurper, WAS BUSINESS, , and the making of money, which is why a lot of folks came here!
Notice how totalitarians always invoke "fair" when they are attempting to steal something? Fair only applies to sporting events. What applies here is law. And no entity is obligated to manage its affairs for the benefit of the government.
And by the way, what would Illegal Alien Obama know about the obligations of citizenship?!
if you want companies to come back, along with their capital and jobs while shoring up the banks, then remove ALL corporate taxes on funds left in the banks at the end of the year. if they pushed money to distribution, wages, or bonuses, then it would be taxed at that time. until then, it would sit in the bank or markets gathering interest and helping the economy.
What is the supposed connection between paying taxes and patriotism?
Can’t think of any.
Agree with that, 100%
Yes, it is.
Obama knows it, however.
New world order (his masters) make sure that the elites and the businesses they control evade most taxes.
All the while the same businesses actually get paid by government as vendors, or by government payouts of one kind or another (healthcare is a good example; it is basically new world order’s industry, and it rings up a large chunk of government budgets in the US as Sales).
Obama’s statement has 2 main objectives:
1) keep peddling the lie to the rank-and-file of the left that the left is “against” financial elites (when, in fact, the left is one of the key tools of the financial elites)
2) lure the low-info conservative rank-and-file into actually supporting... get this... allowing new world order elites to KEEP EVADING TAXES. All the while the same conservative rank-and-file pays the bulk of taxes, since they don’t “get” that taxes are for new world order’s “little people” (the working conservative rank-and-file).
The second point is a little tricky to follow how it actually works.
The elites set up tax-exempt foundations to a far greater extent than the working sheeple realize. The key to understanding, though, is that the working sheeple do not realize that the whole tax-exempt scheme has absolutely nothing altruistic about it. Nothing at all. The scheme is simple: dollars that would otherwise be paid to government as taxes - instead get paid to foundations which carry on the work of the elites as THEY SEE FIT. Typically this directly is linked to expanding their own fortunes; for the top elites, though, which operate monopolies, they’ve gone beyond simple “business expansion” and also included shaping of government policy for whole nations which not only helps their businesses directly, but contributes towards advancing the global interests of new world order, in establishing new world order complete control over things like education, medicine, etc.
The conservative working, taxpaying, sheeple rant and rave about allowing all business “free enterprise” to have legal and taxwise carte blanche, not realizing they are supporting the very enemy that is enslaving them more and more each day.
The working sheeple have no idea of the extent of just how much they are despised by the top elites of capitalism, who view them as their own slaves.
The top elites actually see the non-working slaves as not as stupid as the working slaves.
The ONLY people the top elites have any respect for at all is those who are independently wealthy, do not have to work, and who actually operate their own businesses which means that much of their capital is NOT under the management of the elites.
The elites don’t like those people, who they see as breaking free of the elites’ slavery program, but they respect them as not being so moronic as to be enslaved and not even be aware of it.
The very source of America’s war for Independence stemmed from taxes..and hatred for it. Regardless you made relevant points as the core of business is the preservation of it, and workers are just tools and expenses. Only company owners know the reality of this world and those who bitch about it are just plain ole’ fools. It is what it is.
I think there is little doubt which decision our Banana Republic leaders will make.
Dumbest President ever.
Yup. Deny them military protection and contract enforcement, seeing that they are relying upon the rest of us to foot that bill.
And Im taking about a carrot not a stick.
Of course you are. After all, limited liability and biological immortality are not enough.
While that is plausible, the simpler explanation is that the elite control Congress by paying them for the various non-evasive loopholes that subtract from the 40% top rate. The #1 way the elites stay in power is the control of the US Congress. Evasion is not the central issue, it is control of loopholes.
What does ring true in your statements is that since the lowest tax rate even on a couple dollars of income is 30% plus state corp income tax plus fed. personal income tax plus state personal income tax, it is really true that taxes as a whole are aimed at the little people (e.g. small businessmen) and not at the elite.
The highest corporate taxes on Earth, nay, in the known universe are INHUMANE
Open borders are unpatriotic.
That’s his public statement.
But beware what he’s doing in secret: telling the federal agencies to harass any company that is doing or has done an ‘inversion.’
Obama will never lower the corp tax rate.
Didn’t he say bush was unpatriotic for his defecit spending, then Obama came in and spent more that all presidents combined before him.
So where did hypocrite turdbama get the idea that he decides who is patriotic and who isn’t?
Making electric rates “Skyrocket” is unpatriotic
And in Nazi Germany, opposing the treatment of Jews was unpatriotic, so stick it up your @$$ and rotate.