Democrats want to ban government contracts for companies that leave the U.S. to avoid taxes

[carlfense]

Lawmakers are growing tired of corporate America's persistent efforts to dodge U.S. taxes.

 

In the past month, Congress and the White House have denounced a loophole that lets companies lower their tax rate by moving their headquarters overseas. These so-called "inversions" have been the subject on Congressional hearings and legislation to eliminate the tax benefit.

 

Now, a group of Democrats in Congress want to make sure that any company that incorporates overseas would be barred from doing business with the government.

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/29/democrats-want-to-ban-government-contracts-for-companies-that-the-leave-the-u-s-to-avoid-taxes/?tid=rssfeed

[VectorVictor]

[Abdullah the Butcher]

Or you could make the corporate tax rates competitive with the rest of the modern world.

[Husker_x]

Don't confuse nominal rates (35%) with actual taxes payed and collected.

[Abdullah the Butcher]

Don't confuse nominal rates (35%) with actual taxes payed and collected.

 

They wouldn't be going overseas if it wasn't financially better for them.

[BigRedBuster]

Personally, I am for a tax plan where there is zero corporate tax for manufacturing firms in the US.

[LukeinNE]

Election year politicking at it's finest. If they were serious about this issue, 1) they wouldn't have called it "The No Federal Contracts for Corporate Deserters Act" and 2) they wouldn't be trying to fire up their base with stupid legislation to punish corporations for perfectly legal behavior, but rather address the laws THEY ENACTED IN THE FIRST PLACE that promote inversion.

[carlfense]

. . . but rather address the laws THEY ENACTED IN THE FIRST PLACE that promote inversion.

uhhh . . . isn't that exactly what they're doing?

[carlfense]

I really hate when politicians try to do things that the public will agree with during an election year. It really steams my hams.

[sd'sker]

I really hate when politicians try to do things that the public will agree with during an election year. It really steams my hams.

you know what really grinds my gears? when people say "steams my hams" instead of "steams my clams."

[carlfense]

 

I really hate when politicians try to do things that the public will agree with during an election year. It really steams my hams.

you know what really grinds my gears? when people say "steams my hams" instead of "steams my clams."

 

[sd'sker]

well played.

[Husker_x]

 

Don't confuse nominal rates (35%) with actual taxes payed and collected.

They wouldn't be going overseas if it wasn't financially better for them.

 

 

You don't say. CEOs paying 15% capital gains tax because they "don't take a salary" or setting up shop in Ireland so the corporation can pay less a lower tax rate than a medical doctor may be in their financial interests. I'm more interested in the financial interests of our working poor class and the middle class than the scam artists whose bottom line is considered more important than our infrastructure or healthcare system.

[LukeinNE]

 

. . . but rather address the laws THEY ENACTED IN THE FIRST PLACE that promote inversion.

uhhh . . . isn't that exactly what they're doing?

 

 

How exactly is discriminating against companies who follow the existing law in a way that Democrats don't like a fix to the current law?

 

 

I really hate when politicians try to do things that the public will agree with during an election year. It really steams my hams.

 

Welcome aboard the Repeal ObamaCare While Keeping Most Of It, Passing a Balanced Budget Amendment, Raise the Minimum Wage, Cut Taxes (except on the rich), Cut Spending (except everything but foreign aid) Express.

[Junior]

Interesting use of the word discrimination.