Obama wants action to halt the rush of U.S. companies moving abroad


The Obama administration is proposing a ban on “inversion deals,” retroactive to May 2014, in which U.S. companies buy foreign ones and move corporate headquarters abroad to escape U.S. tax laws.

Inversion deals are more common among drug and manufacturing companies that earn much of their income overseas or have assets such as patents that are held offshore; shares of companies with pending deals who fell today on the proposal included Shire (NASDAQ:SHPG), AbbVie (NYSE:ABBV), Auxilium Pharma (NASDAQ:AUXL) and QLT (NASDAQ:QLTI).

In an unprecedented move for a U.S. retailer, Walgreen (NYSE:WAG) also is weighing leaving U.S. shores, a move that could help lower its U.S. tax bill and save the company hundreds of millions of dollars per year.

With the pace of inversions picking up, many in Washington are critical of the practice but they disagree on what to do about the trend: stop the deals cold via a one-off bill or pass a broad tax overhaul that would lower the 35% corporate tax rate.

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Comments (105)
  • Markwith Peso
    , contributor
    Comments (8) | Send Message
     
    Long overdue regulation; should be in conjunction with lowering of US corporate tax. Time for ABBV to take a hard 2nd look at their offer.
    16 Jul 2014, 07:37 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Mark, interesting point.

     

    However, first, can anyone here tell me what the actual *effective* tax rate American corporations pay is? Because it's hell of a lot less than 35%. It has rebounded, but in 2010 and 2011, it was a little over 12%. (12%!!!!!)

     

    If you knew that (which you should before just blindly blaming the high "official" corporate tax rate), all the commentators below wouldn't be spewing their ignorance about how the 35% corporate tax rate is the problem - with all the deductions, the actual tax rate is much, much lower. If the tax rate was lowered to 20% and all deductions were wiped out, ironically companies as a whole would likely pay more. Think that will stop inversions? Doubt it.

     

    Even everyone's favorite investor Buffett talks about this - watch and learn:

     

    http://bit.ly/1rshwtQ

     

    Hopefully we can put this myth to rest - although as a moderate, I've grown tired of seeing the far right repeatedly spew this sh*t all the time.
    16 Jul 2014, 09:04 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    Hi idkmybffjill, you're right, all those multi-billion dollar companies are all going to lose money due to the tax inversions.....they must've miscalculated...Gee how foolish of them to even consider it, lol
    16 Jul 2014, 09:56 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Really confused as to what you're trying to say - not sure you read what I wrote correctly.

     

    The predominant solution pitched on here is to lower the corporate tax rate and some even say get rid of all the deductions. If you did that and lowered the corporate tax rate to 20% (which has also been suggested as # on here by many), then my point is corporations would end up paying more taxes than they do now, given the effective tax rate is much less than 35%. Therefore, inversions would still keep going, so this solution is sort of a bust.

     

    The real issue behind this is a shift from companies wanting to spend their money, investing in the country vs. becoming solely "shareholder-centric."

     

    Many of the companies today who are the most shareholder-centric have had terrible stock performance over the last decade - GE and WMT are great examples that come to mind.

     

    Meanwhile, the ones who reinvested in their businesses and didn't really care about shareholders for a while like GOOG, AAPL, and AMZN have performed phenomenally.
    16 Jul 2014, 10:50 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    idkmybffjill, our buddy alterami has been raging on this thread all day. I don't think his portfolio is doing very well this year for some bizarre reason.
    16 Jul 2014, 10:53 PM Reply Like
  • Rudester
    , contributor
    Comments (3413) | Send Message
     
    Yes, but GE, for example, has historically been one of the greatest tax avoiders. GE reported U.S. profits of $5.1 billion in 2010 (and $14.2 billion worldwide). “Its US income tax bill?” None. In fact, G.E. claimed a tax benefit of $3.2 billion. GE accomplished this through an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. APPL learned a lot from GE and records a lot of its profits overseas.
    16 Jul 2014, 11:50 PM Reply Like
  • brama66
    , contributor
    Comments (172) | Send Message
     
    That's why we need a flat tax rate. Period. Eliminate loopholes, income tax payment inequalities, and government waste and red tape.
    17 Jul 2014, 11:52 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    idkmybffjill

     

    You are no moderate - you feel America - CURRENTLY - doesn't have much in the way of welfare programs. You are a communist, just admit it.
    17 Jul 2014, 02:00 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    And you're no real libertarian - you're okay with corporations being based out of America, taking advantage of American rules, talent, and systems, without paying taxes, but you are against the illegals in Mexico crossing the border and taking advantage of "American workers' tax receipts."

     

    I agree with you on the latter, but the same rules should apply to the former.

     

    If I applied your corporate views to illegals, then I should be allowed to renounce my US citizenship, declare myself a citizen of another country so I don't pay US taxes, and then when my house gets robbed, I should expect my local police department to come to the rescue.

     

    Make up your mind - you can't mix and match your views. Well, I guess you have, but it sounds like you're confused and enjoy labeling yourself a libertarian.

     

    P.S.
    Disagreeing with you that America is a "welfare state" (which is what I actually did) is different than saying America doesn't have much in the way of welfare programs. I disagreed with the former. Don't twist my words.
    17 Jul 2014, 03:24 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    I don't want any government, no borders, no social programs, no central planning at all.
    17 Jul 2014, 10:05 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    "I don't want any government, no borders, no social programs, no central planning at all." Your anarchist fantasy land will never exist anywhere but inside your head, PT.
    17 Jul 2014, 10:24 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    What is the difference between historic slavery and present day government domination of citizens?

     

    If slave owners took 90% of a slave's production, and if present governments take around 50% and continue to take more, are we not moving towards full slavery?
    17 Jul 2014, 10:44 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    "What is the difference between historic slavery and present day government domination of citizens?"

     

    PT, the gov is not dominating anyone... the people with $$$ are... the plutocracy... they buy the government and thanks to SCOTUS approved libertarian principles they can spend as much money as they want on the legal bribes (e.g., lobbying and 501C companies).

     

    "governments take around 50%" who pays an effective tax rate of 50% on their income?... no one. I dont know what your capital gains tax is in Canada but here it is a mere 15%. They should raise it to 25%.

     

    PT, we are on the same page in regards to reducing spending on stupid things like unnecessary wars but if you think there is no hope for fixing the current system and we need to go back to tribal living then I'm afraid I have to oppose you every time you open your well-fed Canadian pie-hole.
    18 Jul 2014, 12:17 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Machiavelli

     

    Are you stupid or just dishonest?

     

    You have federal income tax, social security tax, state income tax, sales taxes, property taxes, gas tax, user fees etc.
    18 Jul 2014, 11:51 AM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    PT, I guess you can say I'm smarter than any libertarian, especially those living in socialist Canada.
    18 Jul 2014, 01:07 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    machiavelli, it really makes you wonder why positivethoughts even lives in Canada, especially when he possesses the views which he has.
    18 Jul 2014, 02:30 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Did you forget about all the taxes I listed? Or were you just be deceitful?
    18 Jul 2014, 03:42 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    PT, I'm OK with getting rid of sales tax or VAT. It is regressive. I prefer a progressive income tax system like we have now but weighted more so than it is now so that the upper incomes do in fact pay a 50% effective tax rate.
    18 Jul 2014, 06:52 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    idkmybffjill, oddly I know of an anarchist reserve near Penticton, BC, Canada that I was going to suggest to PT, but he'll just bring all the anarchists there down all the time with his doom and gloom talk.
    18 Jul 2014, 06:54 PM Reply Like
  • snoopy44
    , contributor
    Comments (1485) | Send Message
     
    Considering that WAG is hq'd in IL it is only poetic justice that they poke Obama in the eye and wave bye bye. He deserves everything he gets. Completely clueless.
    16 Jul 2014, 07:37 PM Reply Like
  • Bret Jensen
    , contributor
    Comments (14466) | Send Message
     
    That is being generous..Carter looks better every day.
    16 Jul 2014, 09:05 PM Reply Like
  • harync
    , contributor
    Comments (8) | Send Message
     
    AbbVie is headquartered in Illinois as well. No accident he wants it retroactive to May 2014.
    16 Jul 2014, 10:24 PM Reply Like
  • cashewking
    , contributor
    Comments (966) | Send Message
     
    I voted for Obama and he has proved to be dumber than a door nail ! There is no reason to take punitive action against US companies for using the inversion tactic. We need a broad tax overhaul, a real energy plan, a new plan for infrastructure and education and Obama has failed to lead on any of it. You can't keep blaming the Republicans who are equally at fault because as president you need to move to the middle, or even further if necessary as a show of support on some things and start getting things done.
    What is wrong with bringing back overseas corporate money with no tax at all going forward if the money goes into plant construction, hiring people and paying dividends if the trillion overseas comes back into the economy.
    17 Jul 2014, 08:46 AM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    Obama will not deal on reforming corp. tax code because he will never lower the corp. tax rate. Obama has stated he would increase tax rates for zero (or even negative) economic benefit for the "optics"- how it looks.

     

    I heard a radio discussion re. whether or not Obama is "intentionally" damaging the country. My view is that does not matter. The important point is that he DOES NOT CARE- if his actions, policies, programs are damaging to the country. He has to be aware of the body of evidence of how he has damaged the country, but he will continue on his present course until his term ends.
    17 Jul 2014, 10:59 AM Reply Like
  • TraderD
    , contributor
    Comments (58) | Send Message
     
    Typical big government liberal response ! And if Congress doesn't go along, Obama the Imperial President will simply use his pen and phone. Hey stupid... why not offer incentives for companies to staying in the U.S. instead of imposing the highest corporate tax rates of any industrialized country. What's next ? Banning people from leaving the country. Yeah, that's worked well in the past.
    16 Jul 2014, 07:41 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Obama should treat U.S. companies as well as he treats mexican illegals crossing the border. Obama still wants to treat Canadians like dirt though, so I guess us northerners are the real 'threat' to American security.
    16 Jul 2014, 07:54 PM Reply Like
  • financeminister
    , contributor
    Comments (1218) | Send Message
     
    Don't remind me about immigration... I just submitted 4 pounds of documents and a $590 check to the immigration services two months ago to start *one of the* immigration processes that was initiated 8 years ago. I feel I should have just walked up from mexico and asked a relative to pick me up. Would have worked faster, cheaper and no need to worry about having a criminal background check, drug test, disease test, biometric appointments and a gazillion attested documents. Reward law breakers... screw law adherents.
    16 Jul 2014, 08:23 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    positivethoughts, you're right - Obama should instead treat U.S. companies with how the respected GOP prefers to treat mexican illegals crossing the border: shoving a shotgun in their mouth.
    16 Jul 2014, 09:05 PM Reply Like
  • aretailguy
    , contributor
    Comments (1991) | Send Message
     
    idkmybffjill - Please let us know how a country can have a welfare society and open borders at the same time...Maybe Obama should build a Berlin-type wall around the country to keep those pesky businesses (that employ real people) from leaving an oppressive business environment.
    16 Jul 2014, 11:17 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    First, let me know again how we are a welfare society? Not usually how it works when the top 1% controls over a third of the wealth.

     

    Second, let me know what the previous POTUS did to address the immigration issue. Surely, it didn't just appear out of nowhere during the current president's tenure.
    16 Jul 2014, 11:48 PM Reply Like
  • JDoe20
    , contributor
    Comments (1407) | Send Message
     
    Correct, it didn't. It happened after Obama's "stroke of the pen" amnesty act in 2012 and the numbers show it.
    17 Jul 2014, 09:28 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    These illegals will be 'entitled' to American workers' tax receipts. Why should this be the case?

     

    I don't want borders, but I also don't want social programs. Illegals want the social benefits - that is thievery.
    17 Jul 2014, 11:58 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Exactly.
    17 Jul 2014, 11:59 AM Reply Like
  • aretailguy
    , contributor
    Comments (1991) | Send Message
     
    "First, let me know again how we are a welfare society?" You question if we are a welfare society and Harry Reid says our borders are secure. No wonder we are unable to get anything done in Washington DC when everyone is entitled to their own reality and facts.

     

    Apparently Medicare, 50 million on Food Stamps, AFDC, Obama phones, disability and everything else that we give away does not make a welfare society. Don't even get me started on welfare to corporations, the biggest boondoggle of all boondoggles. The United States of America is broke, we cannot even take care of our own citizens and we want to take in other countries problems? Who is going to pay for it all?
    17 Jul 2014, 12:15 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Obama phones? You're still buying into that?

     

    Did you ever think that 50 million on food stamps is a symptom of a bigger cause? Have you ever lived in poverty? Or are you assuming that most of those 50 million on food stamps are just cheating the system to get free food?

     

    Why was all this deficit spending not an issue when the previous POTUS was in power? No one seemed to care as we waged war on several continents, much of which ended up being a complete waste of over $2T.
    17 Jul 2014, 12:26 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    JDoe, that's funny - I actually lived in Texas for over 10 years from the mid 90's to late 2000's, and I seem to remember illegals entering through Mexico being a problem even back then.

     

    But I'm guessing you got your "pre-Obama/post-Obama illegal migration" numbers from FOX News.
    17 Jul 2014, 12:26 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    No one here is agreeing to illegals being entitled to American workers' tax receipts.

     

    But why do you not uphold the same standard to American corporations who seem to enjoy the benefits of US citizenship without paying for it?
    17 Jul 2014, 12:28 PM Reply Like
  • aretailguy
    , contributor
    Comments (1991) | Send Message
     
    Obama phones=reality. 50 million on food stamps=bigger problem. I have worked every day of my 66 year old life since the age of 11 when I had a paper route. The first year of my marriage my wife and I lived on $200/month. Not poverty but not wealthy either. Nobody on food stamps is cheating any system. The system is seriously flawed, like most of our systems. Deficit spending has been a problem no matter which party is in power. We will all have to pay the price, probably sooner rather than later. Two wrongs do not make one right. We must look for real solutions to real problems and blaming Bush or Obama will never correct anything.
    17 Jul 2014, 12:44 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    idkmybffjill is obviously a government troll.

     

    idkmybffjill, do you feel that mexican border crossers should get help from the U.S. government? If so, why? If not, why not?

     

    Put it down 'on paper' for all to see. I am calling your bluff.
    17 Jul 2014, 01:58 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    What bluff exactly are you calling?

     

    Why do all of your suggestions never actually have a plausible solution? You're just as bad as the liberals you insult whose solution is to keep providing aid without fixing the underlying cause.

     

    I'm sorry that the fact that 50M people being on welfare because the economy sucks, and that many of them were born into poverty, makes me a Communist. But we know what that makes you - a grade A a*shole (or a Koch brother troll). Why don't you go spend your time picketing a gay wedding.

     

    The irony is I just looked at your profile, and you live in Canada!

     

    Must be great to sit in a country where your tax rate is ironically even higher than most Americans. Maybe this is why you're so grouchy...I sure would be. I think you should stick to issues that plague your own country and leave American politics to American citizens.
    17 Jul 2014, 03:17 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    I hate my government. I hate the U.S. government. All governments are inherently evil. Americans invade, kill, support etc. countries/people/regimes all around the world. American politics is world politics.
    17 Jul 2014, 10:08 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    In that case, I suggest you move to a place like Bermuda where you can live with no taxes and be completely left alone.
    17 Jul 2014, 11:26 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    The government controls 50% of the wealth - are you unhappy with that? Obama is the biggest dog in the government, hence he ultimately controls 50% of the spending in the economy.
    18 Jul 2014, 11:56 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Do you just enjoy making up random facts?
    18 Jul 2014, 01:05 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    I support gay marriage - you idiot. I am a libertarian.

     

    And again, the American government involves itself in every aspect of world economics and politics, so I am involved in discussions involving American activities.

     

    Other big economies are moving away from the U.S. dollar. When that happens, and when America's military starts to age in the next few decades, the U.S. govt won't be the big bully it is now.

     

    Time is not on the U.S. government's side.

     

    Please note, if a bear shits in a forest in Siberia, the U.S. government claims it is a threat to U.S. national interests and tries to get involved. This won't end well for the American people.
    18 Jul 2014, 03:52 PM Reply Like
  • JDoe20
    , contributor
    Comments (1407) | Send Message
     
    IDK, don't try to set up a straw man. There have been illegals coming for years but the numbers started exploding since Obama waved his majic amnesty wand in 2012. Check them out - EXPLODED!
    18 Jul 2014, 04:35 PM Reply Like
  • snoopy44
    , contributor
    Comments (1485) | Send Message
     
    Trader:
    You got it right. This guy is "Nixon on Steroids". If a Republican President did half the crap he does he would have been impeached by now. He is the "Pinochio President". Can't believe anything he has to say. It's pathological with him. He can't help himself.

     

    S.
    16 Jul 2014, 07:45 PM Reply Like
  • The Rebel
    , contributor
    Comments (2718) | Send Message
     
    The liar-in-chief.
    16 Jul 2014, 08:35 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Come to Canada WAG
    16 Jul 2014, 07:49 PM Reply Like
  • Marty Chilberg
    , contributor
    Comments (575) | Send Message
     
    Step 1) Create noncompetitive environment through high corporate tax and repatriation tax....check

     

    Step 2) Watch capital find more efficient local where it is "treated better"....check

     

    Step 3) Create regulation to stop "inversions" by making the process illegal...in process

     

    Step 4) Watch jobs move overseas where capital is residing because repatriation is too expensive...check

     

    Step 5) Create regulation to stop companies that have foreign domiciles from accepting US government work as a disincentive to tax avoidance....Likely

     

    Step 6) Pay more for government work that is no longer competitively bid as companies are locked out....could be

     

    Step 7) Increase personal tax rate to pay for increased cost and lost corporate tax revenues....Likely

     

    Step 8) Create a political platform that demands tax reform by reducing corporate taxes to be competitive.. Likely a winner as we all forget how we got here.
    16 Jul 2014, 07:50 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Don't forget......

     

    9) Create electronic spy system that intercepts, manipulates and tracks all American and worldwide actitivy in the name of national security, while allowing millions of illegals - and thousands of gang members - to cross the border without interruption. And don't forget, still stick it to the Canuks.
    16 Jul 2014, 08:01 PM Reply Like
  • Brad Kenagy
    , contributor
    Comments (2940) | Send Message
     
    Ben Franklin: "If we restrict liberty to attain security we will lose them both."
    16 Jul 2014, 08:47 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    Obama thinks he is a dictator. The democrat way is where you raise taxes on companies, then make laws that force them to stay when they find out that companies are leaving due to the raised taxes...even if those companies do most of their business with countries OTHER than the USA.

     

    Why not just focus on releasing more convicted murderer illegal aliens? That is about the only thing Obama is successful at these days.
    16 Jul 2014, 07:54 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Let one of the illegal convicts date one of his daughters - see how well Obama likes that idea.
    16 Jul 2014, 08:04 PM Reply Like
  • getreal10000
    , contributor
    Comments (250) | Send Message
     
    Progressives like Obama only support their own ridiculous policies because they're shielded from the reality of having to live with them.
    16 Jul 2014, 09:12 PM Reply Like
  • jmjjmj1
    , contributor
    Comments (183) | Send Message
     
    hmmm, since 12.6% is actual amount Corporations paid in 2013, I'd say go ahead lower it to 20% and disallow all deductions, I am sure they will love that. If Corps are people then they need to contribute to the tax base. My 2 cents
    16 Jul 2014, 07:57 PM Reply Like
  • Energysystems
    , contributor
    Comments (2112) | Send Message
     
    54% of citizens don't contribute to the tax base...
    16 Jul 2014, 08:02 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Why not reduce government spending?
    16 Jul 2014, 08:03 PM Reply Like
  • wam350
    , contributor
    Comments (171) | Send Message
     
    Wow, that is truly a new thought .... but wouldn't that be like taking candy from a baby? Those on Obama's plantation might have to go to work.
    16 Jul 2014, 09:20 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    No matter how much the government taxes, over time, they will run deficits. They will spend as much as they can get away with. It is similar to telling a person who overspends to try and make more money to pay off his/her bills. The reality is that if the person makes more money, they will spend more and still be in debt. Look at Michael Jackson and Mike Tyson as examples - both made millions and both were in debt (Tyson still owes to this day, I believe).
    19 Jul 2014, 10:15 PM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    IMO no chance any time soon. The root cause of offshore moves is the uncompetitive US corporate tax rates and laws.

     

    Republicans want corporate tax reform. Democrats do not. These moves continue to put pressure on Democrats for reform.

     

    Why would GOP yield to what democrats want to fix just one issue of the code, take pressure off democrats, and get nothing in return?

     

    I think it is silly that Jack Lew even brought this up. Must just be political theatre.
    16 Jul 2014, 08:05 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    Republicans = Democrats

     

    Only Libertarians will save America.
    16 Jul 2014, 08:07 PM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    The Dufus (Obama) does not really run the country.

     

    He just thinks he does.
    16 Jul 2014, 08:15 PM Reply Like
  • Tack
    , contributor
    Comments (16383) | Send Message
     
    What's next, currency controls? Then what? They keep this up, ironically, they'll need walls to keep people in, not out.
    16 Jul 2014, 08:12 PM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    They could jail corporate executives for doing what is best for their business.

     

    Jack Lew called it unpatriotic.

     

    They could charge them with treason.

     

    I am sure Obama and Holder would love to that if they could get away with it.
    16 Jul 2014, 08:17 PM Reply Like
  • nj2h
    , contributor
    Comments (71) | Send Message
     
    Interesting you bring up treason.
    16 Jul 2014, 08:32 PM Reply Like
  • nj2h
    , contributor
    Comments (71) | Send Message
     
    Obama confuses cause with effect.
    16 Jul 2014, 08:27 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    I admire the blatant hypocrisy from this administration that they say companies doing tax inversions to escape from the worlds highest corporate tax rate are "unpatriotic", while at the same time, Obama is illegally opening the border promising illegal aliens free stuff and citizenship, refusing to enforce the laws of the land, releasing illegal alien criminals from jail, giving them free plane tickets, bus rides, EBT cards and releasing murderers and rapists who are here illegally instead of deporting them. Obama is even threatening American citizens with JAIL TIME who so much as take pictures of his illegal aliens, so you KNOW Obama is the patriotic example we all must follow, right?
    16 Jul 2014, 08:47 PM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    Obama made similar threats to health insurance companies if they stated the truth that insurance rates were increased "because of ObamaCare."

     

    Silencing the truth by force of law (as Obama does) is one characteristic of a totalitarian state. Although we are not yet a totalitarian state, isn't that what Obama wants? Examples: ruling by executive decrees with no legislative opposition; using immigration issue/reform to gain an over whelming Democrat majority (from illegal aliens made citizens and registered democrats) as a permanent monopoly of power.

     

    Hey emperor Obama: It sure looks that way. If it waddles and quacks like a duck, must be!
    18 Jul 2014, 12:37 PM Reply Like
  • mike mohr
    , contributor
    Comments (452) | Send Message
     
    Tax corporations for hiring H1B visa and Outsourcing jobs.
    16 Jul 2014, 08:50 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    mike, Jeff Immelt, the GE CEO, outsourced 50,000 American jobs to China paid no taxes, and Obama then made him the "jobs czar" Be proud.
    16 Jul 2014, 08:53 PM Reply Like
  • mike mohr
    , contributor
    Comments (452) | Send Message
     
    I know that, he also outsource tons of IT to India. The whole system is corrupt.
    16 Jul 2014, 11:03 PM Reply Like
  • CatchallInvesting
    , contributor
    Comments (275) | Send Message
     
    It is a great political move. It will not happen with this broken government now. It will give a reason for regular people to vote. The 400 will not buy the government from the lame masses. One vote per person has been the dream. There is nothing wrong with earning money through production while gaming the system is a problem that was self induced. Fix it.
    16 Jul 2014, 08:53 PM Reply Like
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    As a recent shows, Obama is the worst president ever!
    16 Jul 2014, 08:57 PM Reply Like
  • Brian Auty
    , contributor
    Comments (5055) | Send Message
     
    Canada has a much lower corporate tax rate (as low as 11%) and companies still leave to pay even less tax. We have laws now that prevent massive shifts of capital offshore, but companies still seem to figure out a way. It seems to be easy if you are a multinational.
    16 Jul 2014, 09:00 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    We should try 0% tax on companies, 0% tax on workers and cut government by 100%. Tell me again, why do we need government to interact with each other?

     

    Would roads not be built if there were no government?
    Would people not import and export if there were no government?

     

    Take Detroit - people have started to defend themselves against criminals as the police rarely respond to calls for help anymore. Crime will go down as a result. Police are inefficient. People (private individuals) are more efficient.

     

    Why the need for the middle man?
    17 Jul 2014, 12:03 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    positivethoughts, you cement a reputation as a moron with a comment like that.

     

    I'm all for limited government, but to ask why we need government at all - build yourself a time machine and go back in time and live in an anarchy. There's a reason government was set up by the people....but you probably think it was due to some conspiracy theory that the wealthy instituted so they could have power over the masses.
    17 Jul 2014, 12:29 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    The obvious thing to do is to let corporations have all the overseas subsidiaries they want, just tax the he!! out of all transfer payments to and from subsidiaries. These tax avoidance schemes are basically shell games with enough transfers in and out of tax havens that the tax men lose track of the cash. None of these corporate tax avoidance schemes would be at all viable if they had to pay tax on every financial transfer that crossed an international border.
    16 Jul 2014, 09:00 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    Yeah raise taxes...that's the answer to companies leaving due to taxes being too high.
    16 Jul 2014, 09:07 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    ^^^ Wow this thread was one big crybaby fest for SA right wingers. You guys not making any money this year? Pretty pathetic if so.
    16 Jul 2014, 09:10 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    This article was actually about Obama crying about companies leaving due to high taxes, among other things.
    16 Jul 2014, 09:12 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    alterami, don't worry, you are still the champion. ^_^
    16 Jul 2014, 09:18 PM Reply Like
  • alterami
    , contributor
    Comments (262) | Send Message
     
    That makes no sense but I expected nothing more from a stupid left wingnut.
    16 Jul 2014, 09:19 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    Oh, alterami, you sad panda.
    16 Jul 2014, 09:24 PM Reply Like
  • getreal10000
    , contributor
    Comments (250) | Send Message
     
    One good thing may come out of the Obama years after all - millenials and younger becoming disenchanted with an activist, invasive federal government and turning to libertarianism, or even conservatism if things keep going downhill ...
    16 Jul 2014, 09:40 PM Reply Like
  • machiavelli
    , contributor
    Comments (723) | Send Message
     
    The 18-29 yo group voted 60% in favor of Obama in 2012 and less than half of that age group actually voted... the reason being they don't feel represented. Even though I am against cons and libertarians on almost all things I can definitely agree with them that most people are not represented very well by the two choices at the fed level.
    16 Jul 2014, 10:50 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    getreal10000, if anything, they've become the most disillusioned by the GOP, then comes Obama and whoever else you want to throw in there. I'd get up to date on your views...
    16 Jul 2014, 10:54 PM Reply Like
  • getreal10000
    , contributor
    Comments (250) | Send Message
     
    I based my comment on an article I read in the NYT, "Why Teenagers Today May Grow Up Conservative." http://nyti.ms/1sqBtnA

     

    From the article:
    “We’re in a period in which the federal government is simply not performing,” says Paul Taylor of the Pew Research Center, the author of a recent book on generational politics, “and that can’t be good for the Democrats.”

     

    Even if millenials and younger aren't sold on Republicans, the opposition party is a check on Democratic power, i.e., ever-expanding government. I haven't seen any evidence that an active federal government (at least under Obama) does anything well. Obamacare with its stunningly awful website is but one glaring example that certainly wasn't lost on millenials paying higher premiums.

     

    Rand Paul may also change some minds.
    16 Jul 2014, 11:18 PM Reply Like
  • me10036
    , contributor
    Comments (2) | Send Message
     
    Morons!! This is not about Obama, get a life. Read Deal Book NYT 07/08/14 Medtronic sticks shareholders with the bill.
    Rant about corporations fleecing shareholders if you can stand learning something about how the world really works.
    16 Jul 2014, 09:15 PM Reply Like
  • johnny88
    , contributor
    Comment (1) | Send Message
     
    Corporate tax inversions are a symptom. Obama and his minions want to treat the symptom, not the disease. The disease is one of the highest corporate tax rates in the world. If these guys knew anything about health care, they would know to treat the disease, not the symptoms. Of course, even though they know nothing about health care, Obama thinks the government should run it. Liberal B.S.!
    16 Jul 2014, 09:15 PM Reply Like
  • Dr Joseph Haluska
    , contributor
    Comments (499) | Send Message
     
    I predict this will be "the straw that breaks Obama's back"
    just give it time.....
    16 Jul 2014, 09:30 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (3413) | Send Message
     
    by the time they fix the problem many companies will already have left. Talk about closing the stable doors after the horses ran away. How bout give incentive to bring businesses to the US, not just keep them here? Ever think of that one?
    16 Jul 2014, 10:17 PM Reply Like
  • Heratio Alger Jr.
    , contributor
    Comments (35) | Send Message
     
    No one can force you to remain in business can they? Well maybe they can.... This is now a country where your money is the government's money and your business (which the government built roads for) is now their business.

     

    Forget GOP or Democratic Party, they are both business partners like the WWF. Great theatrics and amusing entertainment, but the outcome is arranged in advance.

     

    The "Republic" is lost and we now have a Social Democracy in which the fleas are bleeding the dog to death.
    16 Jul 2014, 10:25 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9615) | Send Message
     
    The next POTUS will be busy cleaning up after the current POTUS.

     

    Not sure how US will regain the status they once had world-wide. Going to be a long road back.
    16 Jul 2014, 10:57 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Isn't that what the current POTUS did? Spent his time cleaning up after the one before him. Seems to be a recurring cycle...
    16 Jul 2014, 10:59 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9615) | Send Message
     
    True...a cycle that is killing the US...
    16 Jul 2014, 11:01 PM Reply Like
  • Chancer
    , contributor
    Comments (4368) | Send Message
     
    No problem.
    It will be Hillary (and Bill).
    And we will not get it back.

     

    This just proves that 60% of voters and those polled in every poll are wrong on almost every issue. Why do you think the country is in such bad shape? We get the leaders that we deserve.
    18 Jul 2014, 12:46 PM Reply Like
  • Tack
    , contributor
    Comments (16383) | Send Message
     
    C:

     

    "This just proves that 60% of voters and those polled in every poll are wrong ...."

     

    The >50% (and growing), who pay no income taxes and want endlessly bigger subsidies and handouts, know exactly who provides them, and they vote accordingly. In that respect, they're 100% right.
    18 Jul 2014, 01:20 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    Yes Tack, only people who don't pay taxes voted for Obama. I guess that's a great lie to propagate to help the GOP feel better about the abysmal 2012 election, where Romney, with the help of his party, shot himself in the foot about a dozen times at various times throughout his campaign. Basically handed Obama a re-election.

     

    I'm sure all those children and people under 16 in America who don't have jobs and thus don't pay taxes all also voted for Obama.
    18 Jul 2014, 02:33 PM Reply Like
  • KJP712
    , contributor
    Comments (469) | Send Message
     
    Make Ireland the 51st state.Should have been done a long time ago...
    16 Jul 2014, 11:00 PM Reply Like
  • Mikie713
    , contributor
    Comments (641) | Send Message
     
    Oh-oh-oh-oh Baaaama! Auto- parts!
    16 Jul 2014, 11:21 PM Reply Like
  • 7670081
    , contributor
    Comments (24) | Send Message
     
    The ABBV deal will go through regardless of what "inversion laws" are written. This merger is not about saving taxes as much as the Media would love to spin it. In fact I would say this is 80%pipelne and 20% future tax benefit. ABBV needs a much needed boost to its pipeline and Shire fits the bill. Currently ABBV has one of its largest manufacturing facilities in Sligo Ireland so it's not like they are new to Irish shores. Finally, I'm sure those crooked politicians on the hill all have stakes in various companies around the country that they feel they are not getting enough "shareholder value" from, ABBV included. They'll be throwin' stones at each other for months and we'll eventually add 50 more pages to our bloated tax code with enough pork (read:credits) to wipe out the measly .0003% (1.7 billion/yr divided by 48 trillion national debt) that inversion deals costs the IRS.
    17 Jul 2014, 08:47 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    As a Canadian, I was assigned a SIN number shortly after birth. That SIN number stays with me my entire life and is required in order for me to obtain and keep employment. Hence, if I don't have a SIN number, I am not able to work. I suppose in America, the Social Security Number works much the same way.

     

    Of course, if I don't work, I don't survive. Not surviving means that my Charther rights are being infringed. Even disgregarding natural law, if one looks to the Charter of Rights and Freedoms in Canada, the right to survive - and in this sense, to be able to attempt to earn a living - is guaranteed in our society. One can't rely on social programs run by the government because it is easy to forsee that these ponzi schemes will not be sufficient in the long run.

     

    The SIN is a purposely crafted, slavish assignment. By having a SIN number, I am required to pay all the taxes and other fees the government assigns as being my responsibility as a 'citizen' of my country.

     

    The question I have posed to my government is:

     

    When did I agree to be bound by the rules and regulations of the SIN system? Since it was assigned to me just after my birth, how could I legally enter into such an agreement? And since no refusal option was or is available, how can my consent not be considered coerced?

     

    19 Jul 2014, 10:40 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1911) | Send Message
     
    You bring up interesting points, and it all begs the question as to why you're living in Canada of all places. I guess it at least gives you fodder to continually b*tch about.
    20 Jul 2014, 03:41 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2065) | Send Message
     
    I was born in Canada. I applied to have my citizenship revoked and it was refused. I have to become a citizen of another country first, however, which options do I have? Become of citizen of another oppressive regime? Why not promote and support liberty? I want you to be free and do the things that make you happy - you should respect my freedom as well.

     

    Under law, I am owned by Canada. I can only get out of being owned by Canada if I agree to be owned by another government. This is slavery. Such is wrong.
    21 Jul 2014, 12:27 PM Reply Like
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