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American Corporations Create New Term: Inversion

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  • American Corporations Create New Term: Inversion

    Sorry, but this year, July isn’t going to work for me. That’s because of a new kind of American corporate exceptionalism: companies that have decided to desert our country to avoid paying taxes but expect to keep receiving the full array of benefits that being American confers, and that everyone else is paying for.

    Yes, leaving the country–a process that tax techies call inversion–is perfectly legal. A company does this by reincorporating in a place like Ireland, where the corporate tax rate is 12.5%, compared with 35% in the U.S. Inversion also makes it easier to divert what would normally be U.S. earnings to foreign, lower-tax locales. But being legal isn’t the same as being right. If a few companies invert, it’s irritating but no big deal for our society. But mass inversion is a whole other thing, and that’s where we’re heading.

    http://fortune.com/2014/07/07/taxes-offshore-dodge/

    Like rats deserting a sinking ship. Keep voting for corporate rights, America. They'll love you for it!

  • #2
    Inverters don’t hesitate to take advantage of the great things that make America America: our deep financial markets, our democracy and rule of law, our military might, our intellectual and physical infrastructure, our national research programs, all the terrific places our country offers for employees and their families to live. But inverters do hesitate–totally–when it’s time to ante up their fair share of financial support of our system. (Ibid.)

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    • #3
      I think it's fairly obvious that our tax rate needs to get in line with the rest of the world. It even happens between our states. Nebraska is very business friendly...more so than Colorado...so we have jobs leaving the state. Op-Ex and Cap-Ex

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      • #4
        Originally posted by Garcia Bronco View Post
        I think it's fairly obvious that our tax rate needs to get in line with the rest of the world. It even happens between our states. Nebraska is very business friendly...more so than Colorado...so we have jobs leaving the state. Op-Ex and Cap-Ex
        **** that. Change our current tax code and let corps. Know,you want to do business in this country pay your fair share.

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        • #5
          Originally posted by Garcia Bronco View Post
          I think it's fairly obvious that our tax rate needs to get in line with the rest of the world. It even happens between our states. Nebraska is very business friendly...more so than Colorado...so we have jobs leaving the state. Op-Ex and Cap-Ex
          Great idea! Maybe we could lower our rate to match somewhere like Somalia. I'll bet they have a fantastic corporate tax rate. Of course, I'm not sure what kind of government services are available. I've heard that security is a bit lax as well.

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          • #6
            We need corp tax reform. We need a lower rate for money earned overseas but with a law that says they have to bring the money home.

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            • #7
              I don't get how both liberals and conservatives complain about this **** but neither side makes politicians solve the problem.

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              • #8
                Originally posted by Rohirrim View Post
                Great idea! Maybe we could lower our rate to match somewhere like Somalia. I'll bet they have a fantastic corporate tax rate. Of course, I'm not sure what kind of government services are available. I've heard that security is a bit lax as well.
                It screams for reform way more then immigration. Corp tax reform could actually help the whole country. But no Obama would rather focus on mexican kids with lice and scabies.

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                • #9
                  The problem is some corporation get away with low tax, and other get hammered. We need a level playing field that makes it easier for corporation to bring money home and re-invest in America.

                  Seriously though Obama not going to do a thing about.

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                  • #10
                    As long we are able to force their hand and make them them pay the same rate as the rest of us

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                    • #11
                      Originally posted by cutthemdown View Post
                      The problem is some corporation get away with low tax, and other get hammered. We need a level playing field that makes it easier for corporation to bring money home and re-invest in America.

                      Seriously though Obama not going to do a thing about.
                      Easy get rid of all low corp tax rates and you'll have a level playing field

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                      • #12
                        That will just force more out of the country Peace. It's not a left or right issue. If the money isn't here it can't be taxed. The only way to get it here is to change the code into at least 2 zones. Domestic/Foreign.

                        peace is just crazy he wants all the money going to the govt and them controlling every aspect of your life.

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                        • #13
                          Basically Peace doesn't see any corporations as small. He thinks they are all Walmart or General Electric. Most corporations don't go overseas or get big govt subsidies. By doing it the way we do it invites exactly the type of low growth coupled with jobs going overseas.

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                          • #14
                            Peace pull head out and read this.

                            http://online.wsj.com/news/articles/...66900326408522

                            That's because tax preferences are popular. Most of the major existing preferences are intended to promote economic growth, so they are supported by both Democrats and Republicans. The four tax preferences that generate the largest revenue losses are: tax credits for research and development, special deductions for U.S. manufacturing facilities, accelerated depreciation for capital investments, and tax-exempt interest from municipal bonds.

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                            • #15
                              US has the highest corporate tax rate in the world, which has been forcing business out of the US for decades.

                              The Socialist Progressive solution? Raise taxes and "soak the rich". Then they complain about businesses leaving and wonder where all the jobs have gone? Is this a joke?

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