Democrats want to stop companies saving money
That title is a bit misleading I’m afraid. What is happening is the Progressive Liberal Fascist Democrats want to prevent companies from leaving the United States for countries with lower taxes.
The bills are being put forward for a simple reason. The United States Government under Barack Obama and the PLFD’s has become very anti-business. According to the Wall Street Journal:
Lawmakers will unveil bills on Tuesday (May 27th) to keep major corporations from leaving the U.S. for tax purposes, but the legislation probably won’t be enacted quickly enough to prevent more such exits, experts say.
Well of course it will. When it comes to understanding economics, your average PLFD tends to think Karl Marx was promoting Free Enterprise.
Congressional aides, lawyers and other advisers say talk of corporate exits – known as inversions – is growing, in the wake of several recent deals that have taken major U.S. firms offshore.
“I have heard from some representatives of Fortune 500 companies that their companies are exploring whether to do an inversion transaction,” a Senate aide said last week. “Also, I’ve heard that investment bankers are pitching companies to do inversion transactions.”
If anything, talk of legislation could be speeding up some firms’ consideration of a move. That’s because any bill passed by Congress in the near future likely would close the legal window for such deals, at least temporarily.
The stupid, it burns brightly within the ranks of the PLFD. Don’t these clowns understand why corporations are fleeing? It’s due to one simple reason. They don’t like being treated like dirt and having their assets stolen by the Government.
The U.S. has been hit by a wave of corporate exits in the last few years, as businesses grow impatient with what they regard as antiquated U.S. corporate tax rules, and the slow pace of rewriting them in Congress.
Antiquated is putting it mildly. Most of these laws came into effect under Franklin Delano Roosevelt’s New Deal. Not all of course, his cousin Theodore Roosevelt really was the one to get the ball rolling, and with the ratification of the 16th Amendment1, the Federal Government went to town on businesses. Of course, with the PLFD’s, one bad idea should be succeeded by even more bad ideas.
Recently, Senate Finance Committee Chairman Ron Wyden (D., Ore.) announced that he will seek to place new restrictions on corporate exits as of May 8, 2014. Mr. Wyden has not drawn a lot of GOP support for his retroactive approach, however, suggesting that the window remains open.
The Republicans, with a few exceptions, understand just how destructive the policies of the PFLD’s have been for the last century. Why would they want to help them finish off the American economy? Of course, the PLFD’s are all in favor of this idea.
The legislation to be unveiled on Tuesday is expected to take several steps to minimize the ability of firms to exit. Those measures also are supported by President Barack Obama. The bill is being sponsored by the influential brothers, Sen. Carl Levin (D., Mich.) and Rep. Sander Levin (D., Mich.), who is the top Democrat on the House Ways and Means Committee. Despite all the Democratic support, prospects for quick action appear dim. But that could change if more companies head for the border.
Do you really think the Republicans will help? If this passes, I see the end of any corporations in the United States. No matter what these Marxist Moonbats manage to do, (Or get Il Douche to do by imperial fiat), it will fail miserably and result in a far worse economy then we have right now. Needless to say, I’m no expert, but I suspect one possibility is the corporations simply dissolve and reform overseas. What will Obama and his scum do then? Outright nationalize them? Oh wait. They did that with Government Motors, and we’ve seen how well that’s worked out2. However, all isn’t lost yet.
Many Republicans – and some Democrats – want to deal with the problem by passing a comprehensive tax rewrite making the U.S. a more attractive place to locate businesses. For that reason, Sen. Levin said he is proposing a two-year bill to restrict company exits, in order to accommodate those lawmakers and create a window for passing a broad tax overhaul.
That still won’t work Comrade. We all know just how valid your promises are. Just look at all the promises regarding Obamacare. You can keep your insurance if you like it, you can keep your doctor if you like him, healthcare will be cheaper. No one believes you. Fool me once, shame on you. Fool me twice, then I voted Democrat.
~The Angry Webmaster~
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