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Problematic Patriotism In America: A Proposed Solution : Swingers Discussion 245143
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FORUMSGeneral DiscussionsPoliticsProblematic Patriotism In America: A Proposed Solution
TOPIC: Problematic Patriotism In America: A Proposed Solution
Created by: Z_Z_Krewe
Original Starting post for this thread:
***News From The Hill***

Sen. Chris Coons (D-Del) called Sunday for the Obama administration to move unilaterally to stop companies from shifting their legal addresses overseas to reduce their taxes.

The Obama administration is weighing executive action to tamp down on the practice, known as “inversion,” which is currently legal but has come under fire from critics who say it is unpatriotic.

“I have a problem with a mostly American company using a tax loophole to avoid paying their fair share,” Coons said on "Fox News Sunday." “In the absence of congressional action, I do thing Treasury will step up and do something to stop the bleeding.”

But congressional action is exactly what’s needed to deal with the issue, countered former Michigan Gov. John Engler (R), president of the Business Roundtable.

Engler said inversion is a symptom of the greater problem of an outdated tax code that must be addressed. He said recent angst over inversion should serve as an impetus for Congress to act on major tax reform legislation.

He called on Senate Finance Committee Chairman Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) “to get in a room” over the current August recess and hammer out a deal.

“We can have something ready to go when we get back,” Engler said. “Lets not spend the time at Treasury trying to come up with little fixes, when we’ve got an opportunity to improve the competitiveness of the United States.”

[What will America's oligarchy do about this? Demand a reprise of the Boehner Boys Choir One-note vote score?]

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Like I said before, when everyone who works, is paid a living wage, such that meets my before stated standard of living... Then employers can make as much profit as they can. But until then, until everyone who works, receives a living wage... I will not have an ear to hear the wealthy out on.

Hazle Township PA
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[of course, some people believe that "reform" should be in the form of even higher rates, and some have proposals that they themselves do not understand (such as not allowing "write offs"), but that's neither here or there]

Chesapeake VA
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Clinton also said:

""America has to face the fact that we have not reformed our corporate tax laws when 100 percent of the people, from Democrats, Republicans, Independents, agree we need to," Clinton said. "We have the highest overall corporate tax rates in the world. We need tax reform."

Chesapeake VA
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So end the war by paying a living wage. Once you do that, once you make all work worth doing... You will find that we can be quite reasonable... But until you learn that you have a duty to not only your employees, but this nation itself, to ensure that all work done, remains worth doing. You won't get us to come to the table.

Instead, we will wait you out and our numbers will grow as your shrink. Your cannot defend poverty wages, and claim to be a patriotic individual at the same time. No patriot, no descent man or woman, can justify any mandate of work, when working full time doesn't free one from the welfare system and maintain upward mobility.

Until you meet us in the middle with living wages for all work done... Don't expect an inch to be given.

Hazle Township PA
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yes. That is probably exactly right. The democrats are so entrenched in class warfare at the moment that if one of them voted to support any corp reduction in taxes it would end them politically. One of the reasons we have a political deadlock right now across the board. The ones smart of enough to understand the issues aren't going to do whats right for the country only whats right for them politically.

Lexington KY
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Ho... lee... fuk...

An exchange with Bill Clinton on CNBC:

When asked whether inversions — the practice of American companies acquiring a small overseas rival and reincorporating abroad to lower their tax bills — are unpatriotic, as many critics say, Mr. Clinton said that publicly traded companies, in particular, “feel duty bound to pay the lowest taxes they can pay.”

“I should make full disclosure here,” Mr. Clinton told CNBC’s Becky Quick. “I signed and supported the bill that raised the corporate taxes in America to the level they are now.”

But, he said it was a different environment when he was in office. “We were deciding we had to reduce the deficit to get interest rates down and spark an investment boom in America, and it worked,” Mr. Clinton said. [I might also add that many other countries had significantly higher rates. This is no longer the case.]

The former president added that it’s Treasury Secretary Jacob L. Lew’s job to get as much revenue as possible from corporations, but that the tax rate should not be higher than the average rate of countries in the the Organization for Economic Cooperation and Development, or O.E.C.D.

“We have the highest overall corporate tax rates in the world, and we are now the only O.E.C.D. country that also taxes overseas earnings,” Mr. Clinton said. “A lot of these executives, even if they wanted to bring the money home, they think this is crazy.”

[Clinton estimates there may be as much as $2 trillion sitting out there that companies refuse to bring back just because of this. What do you think would happen if it - or some of it - came home?] [also $2 trillion is probably low. Most analysts guess it's more like $5-$7 trillion]

Chesapeake VA
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Z_Z

Sadly, like many Christians in the US, who jump churches or versions of Christianity, the greedy have no loyalty to nation or countrymen, they have loyalty only to self and self wealth.

I have no patience for such people and the sooner they leave, the better this whole nation will be for it. Hell, let them leave with their wealth. If it enables their flight from this nation, if it allows us all to correct the suicidal nose dive they have us on... All the better. Their radical brothers like Andrew, who seek war within the US, will be put down like dogs when the war comes, and from the ashes of the US, a Phoenix will arise.

That, or a fire breathing dragon. Either one will be interesting.

Hazle Township PA
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[A Special Patriot Notice for all SLS expatriates]

In American history, good government is better than bad government. Believe it or don't. Obviously, forsaking your citizenship to avoid paying taxes to the U.S. Treasury is something you consider to be good behavior. From another point of view, true patriots believe that being an expatriate to avoid paying taxes is unpatriotic.

Real patriots prefer good government.

{Your Ture Blue Paul Rever Patriot}

Treasure Is FL
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How stupid can people possibly get?

Every time something like this happens all it does is force people to be more creative. So rather than everyone playing by the same rules, those who are willing to be creative (or downright sneaky or criminal, or just win favor from the political elite) will come out the winners, while the honest ones continue to get the short end of the stick.

This crap promotes crony capitalism which the smegma of fora such as these *claim* to be against but in fact do everything they can to aid it.

Chesapeake VA
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{News of the Realm, Sept. 23rd. Autumn Brings Action}

WASHINGTON (AP) - The Obama administration cracked down Monday on certain overseas corporate mergers and acquisitions, aiming to curb American companies from shifting their ownership abroad to shirk paying U.S. taxes.

New regulations from the Treasury Department will make these co-called corporate inversions less lucrative by barring creative techniques that companies use to lower their tax bill. Additionally, the U.S. will make it harder for companies to move overseas in the first place by tightening the ownership requirements they must meet.

"This action will significantly diminish the ability of inverted companies to escape U.S. taxation," Treasury Secretary Jacob Lew said. He added that for some companies considering inversions, the new measures would mean inverting would "no longer make economic sense."

Administration officials who briefed reporters could not say how many pending inversions might be stopped by the new rules and specifically would not address whether the rules would block one of the most high-profile moves, an effort that Burger King announced in August to acquire Tim Hortons, a Canadian coffee and doughnut chain.

In such transactions, a U.S. business merges with or is acquired by a foreign company in a country with a lower tax rate. President Barack Obama has denounced inversions as unpatriotic and has urged Congress to stop them.

Obama applauded the Treasury for taking steps to reverse the trend of companies seeking to "exploit this loophole" to avoid paying their fair share in taxes. Yet he said he was still calling on Congress to pursue broader tax reform that would reduce the corporate tax rate, close loopholes and make the tax code simpler.

{The Billionaire Bailout Society will attempt to convince it's squirrel squadron to demean and denounce President Obama and his administration now. Wait for the Central Park parade of nut-gatherers to protest American patriotism by an American president and treasury.}

Treasure Is FL
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TOPIC: Problematic Patriotism In America: A Proposed Solution