Posts filed under “Taxes and Policy”
Allan Sloan, editor-at-large for Fortune magazine, is angry.
And with good reason: He is upset at a lot of U.S. corporate executives who are engaging in “inversion.” This is the process of moving the location of incorporation to a tax haven and skipping out on paying U.S. taxes (short list here). Even though the company is still headquartered in the U.S. and derives much of its revenue and profits here, the company becomes a foreign entity.
In a cover story this month titled “Positively un-American tax dodges,” he writes: “All of this threatens to undermine our tax base, with projected losses in the billions. It also threatens to undermine the American public’s already shrinking respect for big corporations.” He is as angrier at corporate America than he has been any time since the financial crisis, and you should be too. “The spectacle of American corporations deserting our country to dodge taxes while expecting to get the same benefits that good corporate citizens get” is unacceptable. continues here
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. Let’s see if the our elected representatives can manage to stop behaving like 10 year olds long enough to resolve this.
Yesterday on my commute to work, I became annoyed with the spotty coverage and slow connection provided by Verizon Wireless. I tweeted my frustration. Imagine my surprise when AT&T’s social networking Tinkerbell responded to me: “Connect when and where you want with our reliable 4G LTE!” I found that amusing. The reason I switched to…Read More
“To avert panic, central banks should lend early and freely, to solvent firms, against good collateral, and at ‘high rates.’ ” -Walter Bagehot, Lombard Street Former U.S. Treasury Secretary Timothy Geithner has been promoting his new book, “Stress Test: Reflections on Financial Crises.” I haven’t read it, and based on what I have heard…Read More
A recent Gallup poll asked working Americans what they expected in retirement. “Half of Americans think they will have enough money to live comfortably after they retire.” This is the first time since before the financial crisis that a majority of Americans have felt this way. The poll is very revealing about both investing psychology…Read More