I’m all for amnesty.
WTF? You are?
Yep! I am. Except I’m not talking about illegal immigrants. I’m talking about corporations. This morning, I read an article in the business section of the Atlanta Urinal and Constipation about inversions.
Inversions? What are they?
Inversions are corporations reorganizing overseas to minimize taxes. The Obungler administration doesn’t like this because, in the words of Treasury Secretary Jacob Lew, they “hollow out the US corporate income tax base”. Too bad. The United States has the highest corporate income tax rate, 35%, in the industrialized world. Also, if a corporation brings money back into this country it is taxed. This is an incentive not to invest in the United States. Lew wants Congress to pass retroactive legislation to stop inversions. And of course, Lew uses the “fair share” argument as in, “We should not be providing support for corporations that seek to shift their profits overseas to avoid paying their fair share of taxes.”
GFY! They’re gonna go to where they can make the most money.
What the gummint should be doing is lowering the corporate tax rate to entice corporations to relocate to the United States instead of leaving the country, and they should declare a one time amnesty for corporations to repatriate profits back here to reinvest in America, but as long as Obungler is president and the Dimocrats control the Senate that won’t happen. Instead we’ll get more anti-business crap from the rat bastard commie who has “a phone (which if it’s a smart phone is also a computer) and a pen” and is going to rule from the White House like a Third World dictator. Considering where he’s from, that makes perfect sense.
Somewhere in Kenya a village is missing an idiot.
Since Dear Leader NEVER worked an honest day in his life, nor ever ran any kind of an organization, its little wonder he has little idea how a business operates. His ilk think that taxes can be piled on and on to infinity, & will have no bearing on the business’ ability to compete…
They don’t necessarily go where they make the most money, they go where they can mind more of their own business.
But he’s a “clean”, articulate idiot