Is This The First Signs of Significant 'Shrugging'?
Posted by Zenphamy 9 years, 9 months ago to Philosophy
More and more corporations, in order to escape the onerous tax burdens of the U.S. are moving their headquarters out of the US and keeping the off-shore earned profits overseas. The looters in our government aren't happy. Should Objectivists be happy about this 'Shrugging'?
From the article: "Wouldn’t you know it? Barack Obama and his cohorts have found yet another way to blame those greedy, bloodsucking profit-seekers (otherwise known as American businesses) for tarnishing the American dream.
What’s the latest sin of those dastardly companies? It’s having the unmitigated gall to move their headquarters out of this country in order to save on taxes. How dare they! Aren’t they supposed to put their country’s need for more money ahead of their shareholders’ desire for more profits?
“My attitude is, I don’t care if it’s legal, it’s wrong,” the President thundered during a recent speech. He called on Congress to fast-track legislation to make such relocations (known as “inversions”) illegal"
From the article: "Wouldn’t you know it? Barack Obama and his cohorts have found yet another way to blame those greedy, bloodsucking profit-seekers (otherwise known as American businesses) for tarnishing the American dream.
What’s the latest sin of those dastardly companies? It’s having the unmitigated gall to move their headquarters out of this country in order to save on taxes. How dare they! Aren’t they supposed to put their country’s need for more money ahead of their shareholders’ desire for more profits?
“My attitude is, I don’t care if it’s legal, it’s wrong,” the President thundered during a recent speech. He called on Congress to fast-track legislation to make such relocations (known as “inversions”) illegal"
We have almost if not the highest corporate tax rates in the world. Of course companies are moving headquarters to countries where they can have a better tax stance.
The only surprise is that it hasn't started sooner or moved faster.
Agreed completely, Technocracy. Obama is citing the looters' mantra. The only country with a higher corporate tax rate is the United Arab Emirates.
Regarding "the only surprise is that it hasn't started sooner or moved faster", this is why I am seeking advice from straightlinelogic and MrKnoWhen.
They have made the military a far more political entity than it was.....more's the pity.
Not to mention the left's favored lab for "social experimentation"
Right after Obama got elected, he said that we all need to have skin in the game. I converted quite a bit of cash to Au that day.