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Stanley's Steaming [IBD Editorial on Stanley Tools leaving the USA]
Investor's Business Daily
| May 14, 2002
| staff
Posted on 05/14/2002 4:11:07 PM PDT by snopercod
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There is something grossly unpatriotic about holding a private company hostage to the insatiable appetite of the state.I beg to differ. Forcing companies to serve the government was considered very patriotic in Hiter's Germany, Mussolini's Italy, Mao's China, and Kruschev's Soviet Union.
1
posted on
05/14/2002 4:11:07 PM PDT
by
snopercod
To: snopercod
"Stanley Works has no right to abandon their obligations as a corporate citizen of this country," mumbled Rep. James Maloney, D-Conn. LOL! Straight out of "Atlas Shrugged".
2
posted on
05/14/2002 4:21:40 PM PDT
by
TheDon
To: snopercod
shrugging.....shrugging....
Politicians are real evil dudes...and stoopid.
3
posted on
05/14/2002 4:24:13 PM PDT
by
dasboot
To: snopercod
No surprises here, fascists do what fascists do and Mr blumentahl is a dyed in the wool fascist.
4
posted on
05/14/2002 4:24:24 PM PDT
by
jwalsh07
To: snopercod
...more people havent fled Connecticuts tax burdenConnecticut is #1 in taxes, but the People's Republic of Washington is #2, and we are going to be #1 soon. Despite losing Boeing to Chicago, the demise of the dotcom's and having the worst unemployment in the USA; Washington has plans for additional gas taxes (10 cents a gallon increase), additional transportation taxes, and increasing taxes on electricity, natural gas, and property. Woo-hoo, we are going to drive every company out of Washington; then are going to cry about how unfair it is for these companies to leave. Personally, I'm hoping to relocate this summer. Please God, get me back to Texas and sanity.
5
posted on
05/14/2002 4:24:45 PM PDT
by
Hodar
To: snopercod
Excellent comment. Our governments, state and federal, have forgotten what it is like to fear the people. Instead, they have the mindset that we are to fear them. Our Founding Fathers were pretty wise in incorporating the Amendments to the Constitution - we would be wise to constantly remind government office-holders that we consider the Constitution the law of our land... not the office-holders.
6
posted on
05/14/2002 4:26:26 PM PDT
by
waxhaw
To: snopercod
I am curious. What does a company lose when it reincorporates offshore? If nothing, why don't all companies do it?
7
posted on
05/14/2002 4:27:03 PM PDT
by
luckyluke
To: Hodar
Please God, get me back to Texas and sanity. Watch, you'll end up in Austin. LOL
8
posted on
05/14/2002 4:27:13 PM PDT
by
kezekiel
To: TheDon
Yet when the companies stay here ,and sub out work formerly made here to the Commies in China, noone bleats a words about being "corporate citizens".
9
posted on
05/14/2002 4:27:43 PM PDT
by
L`enn
To: snopercod
"Stanley Works has no right to abandon their obligations as a corporate citizen of this country," mumbled Rep. James Maloney, D-Conn. What is particularly ironic is that the State of Connecticut would have fallen all over itself in an attempt to lavish the company with tax breaks and special exemptions if Stanley had threatened to move to Alabama instead of Bermuda.
To: Hodar;Robert357
Don't forget the Aluminum companies...
To: TheDon
You're right. I'm surprised that we haven't seen more of this before now.
I certainly don't know all the ins and outs of this business, but it occurred to me several years ago that Bill Gates might decide to relocate offshore. Don't think that it would be a big problem with the technology that we have nowadays. Want software? Just download it off the internet for a price.
12
posted on
05/14/2002 4:30:06 PM PDT
by
davisfh
To: snopercod
Bump
To: snopercod
I hope there's a congressional hearing.
Stanley rep: "Do we, the management and stockholders, have the freedom to persue our interests as we deem fit?"
congressperson: "No."
14
posted on
05/14/2002 4:32:17 PM PDT
by
dasboot
To: luckyluke
What does a company lose when it reincorporates offshore?Corporate income taxes? Annual corporation fees? Anybody?
Comment #16 Removed by Moderator
To: snopercod
This means that they won't be paying taxes on foreign profits. They'll still pay taxes on profits made in the US. As a cost-cutter, this is sure preferrable to layoffs or moving the factories to China.
To: snopercod
The US government is already imposing economic santions against companies and individuals wishing to leave the country. How much longer before they ban leaving altogether?
The question must be asked, do people and companies belong to the government of the United States? Do we exist for their benefit That is what the politicians seem to think.
?
18
posted on
05/14/2002 4:35:12 PM PDT
by
monday
Comment #19 Removed by Moderator
To: snopercod
With a corporate tax rate at 40%, and this is just the begining. Then there is social security, resale tax, tax on inventory, etc.....Very few kinds of businesses can stay in business for very long without the special tax breaks from the politicians and that costs $$$$ in the form of campaign contributions and high priced lobbyists.
A tool maker is dependent on heavy capital investment and this is just the type of business that can't stay in business very long in the once great USA. The only way a manufacturing business can profit is from taking government contracts or corporate welfare. More and more manufacturing businesses are becoming service industries that farm most or a large part of the high value added work overseas. The liberals have destroyed the major economic engine of the US with taxes and the lower middle class and poor are the ones that really get the shaft. America can't compete.
20
posted on
05/14/2002 4:42:00 PM PDT
by
SSN558
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