Corporate traitors
“Corporate inversion”? Is that what they call it now? The last time I checked they it was called “tax-motivated expatriation”. Of course if you or I did it, they’d call it “tax evasion” and we’d end up in jail :
- Companies that reduced their U.S. tax bill by incorporating overseas did $1 billion worth of business with the federal government last year, an Associated Press computer analysis of federal contracts showed.
. . .
“It’s outrageous that we would do business with these folks,” said Rep. Richard Neal, D-Mass., who has introduced legislation to continue taxing companies that move their headquarters overseas. “They are shirking their citizenship.”The process is known as corporate inversion: A company moves its headquarters sometimes nothing more than a post office box to a low-tax enclave such as Bermuda or the Cayman Islands while leaving its operations and employees in the United States.
The senate twice has passed legislation to prevent the new Homeland Security Department from doing business with companies that relocate overseas, but both times the provision was removed from the final bill by House Republican leaders.
Where’s the Republican’s faux patriotism now? Does their love of country only extend to renaming food? I guess it makes sense that the politicians who rally behind the confederate flag would come to the defense of corporations who are willing to renounce their country in order to save a few bucks.
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