Friday, July 18, 2014

SOME US CORPORATIONS UNPATRIOTIC FREELOADERS

Corporations that dodge taxes are doing harm to this country.  Corporations that do business in this country have both a legal and moral obligation to share what they reap from this country by contributing to it's welfare. Anything short of this is nothing more than freeloading.




In a sharply worded letter to key congressional tax code writers, Treasury Secretary Jacob J. Lew pushed for legislation that would make it more difficult for U.S. companies to reorganize as foreign firms in lower-tax nations.

The practice, known as inversion, enables the new company to avoid paying the high U.S. corporate tax rate on its foreign earnings.


“Congress should enact legislation immediately – and make it retroactive to May 2014 – to shut down this abuse of our tax system.What we need as a nation is a new sense of economic patriotism, where we all rise or fall together… We should not be providing support for corporations that seek to shift their profits overseas to avoid paying their fair share of taxes.”