Will Republicans Block Action On Corporations Abandoning The U.S.?

[unhappycamper]

http://smirkingchimp.com/thread/dave-johnson/57909/will-republicans-block-action-on-corporations-abandoning-the-u-s

Will Republicans Block Action On Corporations Abandoning The U.S.?
Corporate America | Republicans | Taxes
by Dave Johnson | August 27, 2014 - 9:26am

There is legislation before Congress to do something about corporations renouncing their US “citizenship.” The odds are that Republicans will block it — and not just because they have obstructed everything else.

There is a wave of news about corporations using a technicality called an “inversion” to renounce their US “citizenship.” An inversion is when a US company buys or merges with a non-US company, and then pretends it is no longer a US company. Today it’s Burger King. Not long ago it was Walgreens.

Keep Same Executives, Employees, Facilities And Customers

Even though an inverted company has renounced its US citizenship, the company keeps the same executives, the same stores or facilities, the same employees, and the same customers — right here in the US. The only things that changes is the company sheds certain tax obligations. The company still receives all the benefits of US roads and infrastructure, police and fire protection, courts, military protection, and the rest. The US still educates its workforce and subsidizes its ultra-low wages with food stamps, Medicaid, and other available government services.

There is legislation to fix this problem. In particular, the Stop Corporate Inversions Act of 2014 has been introduced in both the House and the Senate.

[silverweb]

1. Sure they will.

[font color="navy" face="Verdana"]They're among the biggest beneficiaries of said corporations, as well as their boot lickers.

[Turbineguy]

2. Being the patriots republicans are...

they will block the legislation.

[beachbum bob]

3. less we forget the GOP hates governement and governing....

losing taxpaying corporations is a means to their dreams. Cut of the revenue to kill the govt beast and why we NEVER hear outrage from the GOP on tax cheats or corporate tax scams.

when you oppose government why would any one expect them to take action to keep it operating?

[tridim]

4. Do you really believe Republicans want to kill govt?

Because every time they get in power, government and spending expand massively. History is the proof.

They oppose Democrats, and LOVE big government at war.