Today’s must read comes to us from Fortune, where editor at large Allan Sloane rails against “Positively un-American tax dodges.” Its your must read for today.

 

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Let’s see if the our elected representatives can manage to stop behaving like 10 year olds long enough to resolve this.

 

Category: Corporate Management, Economy, Really, really bad calls, Taxes and Policy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Corporate America = UnAmerican”

  1. WickedGreen says:

    Wait, so the government Corporate America bought turns out to be not good enough?

    Let’s just call theft, graft, and fraud what it is.

    The flags are the least of it.

  2. Concerned Neighbour says:

    Corporations have no loyalty but to themselves. Inversions are just another in a long line of ways corporations have tried to minimize their tax burden. We know multinationals have huge staffs devoted not to productive means, but to minimizing taxes.

    There are options to deal with this behaviour. One solution is coordinated corporate tax rates across jurisdictions, which I believe are increasingly under discussion. We could also get creative and do something like tax a company at least in part based on its domestic sales rather than just its production.

    Of course, we know that with the bought political system corporations will never allow any new laws that will cost them more than they’re paying now.

    • victor says:

      I agree and also ” multinationals have huge staffs ” be aware that they outsource all their dirty work to outside outfits so that their hands remain clean, just in case….

  3. rd says:

    I assume these are the same companies that want to operate under the “Pax Americana” umbrella with sea lanes safely kept open, international conflict between major powers kept to a minimum, and with good infrastructure to facilitate movement of their goods, communications, and people. I suppose their new tax domiciles will ensure all of this for them.

    I am generally anti-protectionist but I think the corporations with offshoring their employees and income are moving us to the point where we need to start looking seriously at some regulation and protection on these issues. I am sure Congress will be on top of these things once they are back from their campaign contributor paid “fact-finding” tours.

    • willid3 says:

      and some of them will continue to get paid in tax dollars. but then even when government vendors dont pay taxes they still get paid. even if they owe the government more than get paid

  4. Robert M says:

    The sorriest part of this story is that once upon a time Democrats fought aginst this nonsense. Since the Clintons triangulated everything the Democrats have been bigger supporters than the Republicans. Thank you Larry and Robert R.
    Along this line is the continuing lies in regard to H-1B visas. The end result is the lowering of wages in the U S
    http://www.philly.com/philly/business/labor_and_unions/20140708_Backlash_rumbles_among_U_S__workers_over_foreign-visa_hires.html

    • Iamthe50percent says:

      If only these tech professionals would get over their prejudices and form a union. Then they could deal en masse with these scumball companies and their union’s COPE could bid against the companies for the politicians.

  5. 873450 says:

    There will come a spontaneous tipping point when corporate tax havens set up on laundered paper in Ireland lose meaning. Just like Arab Spring, an initial spark nobody predicted will ignite flames that don’t recognize borders and spread rapidly in all directions. Just like everywhere else, the Irish are being victimized by corporatists too. They have pitchforks too. Pitchforks are universal.

  6. intlacct says:

    Expatriate Americans have to pay taxes on their worldwide income – whether repatriated in cash or not. Why treat corporations better than humans? And don’t try the incorporated, separate legal entity ruse – if the parent effectively controls the sub, than consolidated financial statements are required and substance over form says the cash is effectively the parents (if it effectively controls the sub). Alternatively, let human citizens create a corporation and play the silly game, too. (I know, some do. But that is a scam, too for the same substance over form argument.)

  7. ottnott says:

    BR wrote: Let’s see if the our elected representatives can manage to stop behaving like 10 year olds long enough to resolve this.

    I hope that was just an excessively flippant remark and not an accurate representation of your understanding of the problem.

    To blame the country’s growing political crises on immature and self-centered politicians (which we collectively voted into office) is akin to blaming the financial crisis on financial execs who behaved like adolescents and ignored all the stern lectures about risk.

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