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.