Skip to comments.Obama has his head in the sand over America's corporate exodus
Posted on 07/27/2014 2:50:07 AM PDT by markomalley
When companies are heading for the door as fast as they decently can, you have to ask yourself why? President Obama's approach is a rather different one; let's just lock the door and stop them from leaving.
On both sides of the US political divide, America's apparent corporate exodus via so-called "inversion takeovers" is a source of growing concern. However, their response to the problem could hardly be more different. Broadly, Republicans want to deal with the issue by lowering corporate tax rates; but Democrats want to stop the outflow by changing the rules. As things stand, these allow companies to redomicile to lower tax regimes by increasing their foreign ownership. Takeover a foreign company in a shares transaction, and hey presto, job done. Quite a few of these deals have already been done, and many more are being considered. In any case, what with approaching mid-terms and the administration's faintly protectionist appeal to "economic patriotism", this somewhat arcane tax policy issue has suddenly gone mainstream
These companies are cherry-picking the rules, and it damages the countrys finances, Mr. Obama said yesterday. It adds to the deficit. It sticks you with the tab to make up for what they are stashing offshore. I dont care if its legal its wrong".
Now of course, inversion would not be an issue at all if US corporate tax rates were internationally competitive. They are not. In fact US corporate tax rates are some of the highest in the world. Unsurprisingly, companies have been trying to escape this fiscal prison by redomiciling elsewhere.
(Excerpt) Read more at blogs.telegraph.co.uk ...
I know where Obama has his head and it ain’t in any sand.
That's because 90% of the media have the same socialist impulse and crossed with flat-out ignorance of economics as the President has.
What Obamma is proposing is akin to building a wall around the nation...to keep businesses in! Shades of East Germany...
“These companies are cherry-picking the rules, and it damages the countrys finances, Mr. Obama said yesterday. It adds to the deficit. It sticks you with the tab to make up for what they are stashing offshore. I dont care if its legal its wrong”.
Cherry-picking the rules and adding to the county’s deficit...I thought he was talking about the five million illegal future Democrat voters he’s redomiciling for a minute there...
The commies had a similar idea in East Germany where they built a wall to keep the peons from fleeing the worker’s paradise.
This sounds familiar... People fight to get into a great country where they can be free. No one is stopped from leaving.
In communism people are not free and are prohibited from leaving. The government makes more rules and controls by fear and violence.
Wow.. That is beginning to sound like our country!!!!
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded here and there, now and then are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
This is known as bad luck.
Why can't people comprehend that Obama is just a garden-variety commie?
No he doesn’t. In 2008 I believe he was asked about lowering taxes for businesses means increasing revenue for govt and Obama was more interested in “fair share”.
Dude is a Marxist.
Would that be perchance, where the sun don't shine?
These companies are cherry-picking the rules, and it damages the countrys finances, Mr. Obama said yesterday. It adds to the deficit.
The deficit is YOUR baby, bozo, not Co’s or citizens YOURS.
I have been checking in with some of the alphabet net work's "talking heads" recently and you couldn't be more right, the economic ignorance is astounding.
Ignorance generally too.
I think it should be stressed that that is not "just your opinion", that's actually what he said.
Obama is an admitted Marxist, he's made it very clear from his first campaign. People elected him twice anyway because they want more and more free s###.
As our rule of law weakens, all our assets become less worthy. Freedom is valuable. Socialism isn’t.
Anybody that has studied his background, the background of his relatives, his relationships, his history, and his actions have to come to the same conclusion - the boy was groomed for this from birth. This was all premeditated. No senator with only 3 short terms under his belt and a non-practicing lawyer at that becomes president especially if he’s black. This was all setup. Why would anyone to to law school then become an activist? You’ could even go on and on about how his education was paid for and his identity poblems but it does no good.
Didn`t you mean up his ass?
The goal of the trecherous tyrant is to rule what corporations do. He is the ruler and must prevail.
If Obama ever built a border wall the guns and towers would look towards us......
These companies are cherry-picking the rules, and it damages the countrys finances, Mr. Obama said yesterday. It adds to the deficit. It sticks you with the tab to make up for what they are stashing offshore. I dont care if its legal its wrong”.
Spoken like a true dictator. Never mind that it is he and
his fellow fascists that caused this in the first place but
he’s going to build a wall none the less to keep people in.
“A shame when a Brit “gets it” better than 90% of the media in the country where it is happening”
The media gets it, they are in on it along with 90% of
“... I dont care if its legal its wrong”. - Obama
It’s scary to think a U.S. President uttered these words.
Can you imagine Romney or Reagan making a “business statement” like that? This is why you don’t put a community organizer in charge of a business! They haven’t got a clue how it is run and never now will understand profit is the engine for success and survival. Socialists can’t grasp that and should never be allowed in the boardroom.
The Brit doesn't get it. The tax code problem is really a tax loophole problem.
The tax loophole problem is really a problem of a corrupt congress, often referred to as systemic corruption, institutionalized corruption, or legal corruption.
And systemic corruption is not limited to the tax side, but also the subsidy side.
The flow of this money from loopholes and subsidies is circular. A sizable portion of it flows back into campaign donations. The amount of money that flows back to individual members of congress is dependent on that member's status in congress. Which committee he gets assigned to, a chairmanship on the committee or subcommittee, especially an appropriations committee. There is a special name for them, "Congressional Cardinals". There is a reason why the House Ways and Means Committee has 39 members
“This was all setup.”
Well of course it is. You don’t think that the New World
Order is going to allow a Representative republic to
exist? It’s way to much competition for dictators, commies
and monarchs. It’s not just Obama though. Republicans like
Cornyn, Graham and McCain knew what the IRS was doing to
the TEA party and did nothing. They are in on it to.
Why is it people do not get it? It isn’t head in the sand, it isn’t incompetence, it is ideology.
Obama is a communist. He is also here to take the US down as a nation.
I also believe he was chosen because he isn’t American. He feels no pain in doing what he is doing.
Obama has his head in the sand and has had his head in the sand forever. He is a worthless evil person.
Lowering the corporate tax rate to be the lowest in the world would reverse the flow over night. Instead, we will continue to give TIFs to Walmart.
... I dont care if its legal its wrong. - Obama”
Obama also doesnt care if something is Illegal if HE thinks its right. That’s the attitude of a CRIMINAL.
These companies are cherry-picking the rules, and it damages the countrys finances,
What a hypocrite. Obama cherry picks which parts of the law he wants to enforce.
He reminds me of Orren Boyle and the rest of the looters when they’re in a meeting with Hank Rearden and trying to con him into joining another one of their schemes to put off the judgement a bit longer (this is when he’s the last major industrialist left and thus the only one they can loot from). He proposes several options that would actually bring about what they claim to want, but they practically wet their pants at them because all of the ideas essentially shoot down their beliefs.
Obama’s the same way; he’d rather let the country crash and burn than see all his beliefs shot down.
Many have been a part of the American economy for over a century. Now they can't wait another twenty-eight months or so till the mid-terms?
Why don't these "captains of industry and commerce" dig their damn heels in and actively campaign to replace the socialists and commies and Obama's thugs in the House and particularly the Senate. OPENLY contribute brains, power, influence and money to elect conservatives and tea partiers...and to throw the anti-business bums OUT of both houses!
No...instead they're muttering to themselves as they start folding their tents to leave......dragging their tails behind them. They'd rather run than fight.
These yellow-bellied cowards will be gone instead of remaining and helping folks like us fight back to save our country and jobs.
While I'm pro-business, of course, I've yet to see Big Manufacturing, Big Financial, Big Retail, etc. organize themselves into a "save America" juggernaut....as they could if they wanted to.
To the contrary, I watch various business groups working actively to torpedo our nation....one example being the Chamber of Commerce....which should more precisely be re-named the "Anti-American-Worker Chamber of Horrors".
Another case in point, the corrupt Big Unions....who are still supporting and protecting Obama while he's driving industry out of the U.S. causing the demise of the jobs of millions of their own unionized dues payers. Go figure.
And Big Media...who is going to buy advertising in your rags, on TV and on radio when businesses collapse as they're doing every day now. You don't seem to care, do you.
And screw you, Walgreens. Instead of expending energy on moaning about taxes and daily threats of deserting this country why not decide on a prescription to SAVE it? And then actively DO something about it!
Why are WE, the peasants, supposed to fight this marxist regime while Big Everything placidly sits by on its collective fannies, and while it continues heavy donations to the DemoRat Socialist Party, all the time shaking their heads about how they may have to move their corporations off-shore and how awful it all is and how nothing can be done about it and how their wives will hate leaving their gated-community bridge clubs, and.......
The Brits don’t know what they’re talking about.
The only way to keep American jobs here is to prohibit any company from leaving the United States and then nationalizing it if it refuses to pay the more just tax rate of seventy-five per-cent.
It’s the only way. Ya know?
“...the ignorance is astounding...”
They ignore the sane rules of human behavior because they’re covering for the wild-eyed totalitarians in high places who want to dictate the terms for peace through “social justice”.
“These companies are cherry-picking the rules, and it damages the countrys finances,
From the cherry’ picker in-chief!!! Lol
The Democrat solution would trap large companies in the US and make them noncompetitive. Small companies will look to be taken over by foreign outfits (then it’s a purchase, not an inversion).
The correct solution economically is to lower spending, and shortly thereafter, taxes.
“Why can’t I just eat my waffle?”
All by King Baraq’s design.
No it doesn't. What you owe to the gov is set by a formula (the 1040 form). Whether U.S. companies paid a 100 billion in taxes or zero, the amount you or I pay would not change by a single penny. Only way you or I pay more is if Obama increases taxes, which he's done.
The IRS/Lois Lerner scheme represents merely a tip of the iceberg in the mammoth government intimidation scheme. The current government regime is punishing dissent harshly and using multiple government agencies to inflict maximum incursion and extortion.
Free market is free market.
Capital goes where it is welcome and stays where it is well treated. Walter Wriston
...the EPA, SEC, OSHA, Patents & Trademarks, Anti-trust, etc.
Obama’s ass is made of sand?
Obama’s ass is made of sand?