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Robert Reich: Corporate nationality is increasing irrelevant
You shouldn’t get to call yourself an American company only when you want a handout from the American taxpayers,” President Obama said Thursday.
He was referring to American corporations now busily acquiring foreign companies in order to become non-American, thereby reducing their U.S. tax bill.
But the President might as well have been talking about all large American multinationals.
Only about a fifth of IBM’s worldwide employees are American, for example, and only 40 percent of GE’s. Most of Caterpillar’s recent hires and investments have been made outside the US.
MORE HERE: http://wonkynewsnerd.com/robert-reich-increasing-irrelevance-corporate-nationality/
He was referring to American corporations now busily acquiring foreign companies in order to become non-American, thereby reducing their U.S. tax bill.
But the President might as well have been talking about all large American multinationals.
Only about a fifth of IBM’s worldwide employees are American, for example, and only 40 percent of GE’s. Most of Caterpillar’s recent hires and investments have been made outside the US.
MORE HERE: http://wonkynewsnerd.com/robert-reich-increasing-irrelevance-corporate-nationality/
