Obama Calls Out American Companies For 'Gaming The System'

[JimH52]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

But the GOP will fight him on this. They whine about the deficit and then allow corporations to avoid paying tax. They are classic Hypocrites.

well why didn't your DEAR leader take care of this already, why WAIT SIX YEARS?
He spent two years pushing his fascist Obamacare on us
but now it's AGAIN. Republicans fault
you are such a good little sheep follower and you certainly don't mind your party playing games with YOUR LIFE

Every time he tries to reform coroorate hand outs YOUR GOP house slaps it down. They only think about the 1 percenters.

 

[Oldstyle]

I hate to point out the obvious, Jim...but the 1% has done far better under the Presidency of Barack Obama than they have under almost any other President...EVER!

 

[American Horse]

So - US corporations resist having their foreign earnings taxed as US income (which it isn’t), and they shouldn't do that, why?

It's only smart for them to keep that foreign earned income and put it to work expanding their presence right where earned and where it will go so much further if kept there.

It has nothing to do with the US economy, where all their US earned income is already taxed as the law requires; in other words when they “invert” their corporate structure they still continue to pay their US earned tax obligations on their US earnings.

The problem with the whole thing for the president and the Democrats is that it so clearly points out the flaw in a scheme of taxing foreign earnings; how it drives those companies to move outside the US to better compete, and then finally to invest that income (where it has already been fully taxed) where it has the potential to go so much further to advance them in those same world markets, where if they can’t compete on a level playing field they risk becoming second rate participants.

It points out how failed taxing policies drive businesses out of the country.

It's probably the case that the original intent of taxing foreign earned income was to discourage companies from locating parts of their business overseas, and it has had exactly the reverse affect, the same way further foolish tampering will cause a stampede for others to get out of the US.

 

[TemplarKormac]

you can legally dodge.

So what's the problem?

mostly, it's an uneven playing field. not every company has the resources to shift its headquarters like that, so smaller businesses have a disadvantage. and as the president pointed out, the companies benefit from doing business here, but through exploitation of tax loopholes they're taking those advantages without paying for them - which shifts the costs to those that can't take the same measures.

so the question we need to be asking is is it in the best interests of the united states to continue to allow businesses to dodge their taxes, or should we be working towards closing those loopholes and keeping at least some of that money here.

"it's an even playing field."

Of course, we can't have companies succeeding unequally, now can we? How Marxist of you. And I don't use the term Marxist lightly.

 

[cutter]

The fact that the Idiot-in-Chief can make these kinds of ridiculous arguments, says more about the morons who listen to him, than it does about him.

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

Why do you put down a company for doing everything "LEGAL" to guarantee the largest profit possible? That's their job to make as much as possible for their stockholder. If you don't like it work to change the law. These companies are not non-profit companies they work for stockholders be they private investors or your union pension fund. Why is it so frowned upon to be successful. If it's legal and makes a profit, I say go for it.

 

[zeke]

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

Why do you put down a company for doing everything "LEGAL" to guarantee the largest profit possible? That's their job to make as much as possible for their stockholder. If you don't like it work to change the law. These companies are not non-profit companies they work for stockholders be they private investors or your union pension fund. Why is it so frowned upon to be successful. If it's legal and makes a profit, I say go for it.

It is legal to lobby Congressional staffers on tax committees to make sure that their (the corporations paying the lobbyist) needs and wants are presented to the COngress critter on the tax committee. Doesn't make it right.

Why is it that these companies want to continue to do business in the bad ole USA one might ask. Could it be because the USA is the largest consumer market in the world, protected by the largest military in the world and the beneficiary of the most stable currency and best court system.

So couple all that and the fact these corporations are making billions off the US market, then they need to pay the taxes they are obligated to pay. Period.

If they do not want to pay US taxes, then let them get the fuck out the the largest consumer market in the world and see how the shareholders like that.

You want to know why US corporation avoid paying their taxes? Because they can.

 

[Stephanie]

and then you wonder why more businesses don't want to expand, build, etc under this Obama regime

his hate towards them, I wouldn't either

but his cheerleaders thought it was just awesome

 

[Geaux4it]

Obama is such a joke that big business threw him the

-Geaux

 

[bripat9643]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

Avoiding taxation is as American as apple pie. Turning the U.S. into a socialist people's republic is what's un-American.

 

[Stephanie]

But the GOP will fight him on this. They whine about the deficit and then allow corporations to avoid paying tax. They are classic Hypocrites.

well why didn't your DEAR leader take care of this already, why WAIT SIX YEARS?
He spent two years pushing his fascist Obamacare on us
but now it's AGAIN. Republicans fault
you are such a good little sheep follower and you certainly don't mind your party playing games with YOUR LIFE

Every time he tries to reform coroorate hand outs YOUR GOP house slaps it down. They only think about the 1 percenters.

oh brother...you sound like a parrot who then turns around an votes for the 1%ers
please, everyone is onto this little game by Obama and Democrats...You proved it..
maybe you like being TOLD what you can do with YOUR OWN damn MONEY by this man, but I'll pass on his BS

you don't mind them playing games with your life, so be it

 

[bripat9643]

so you also believe that companies don't dodge taxes as much as possible?

Why do you put down a company for doing everything "LEGAL" to guarantee the largest profit possible? That's their job to make as much as possible for their stockholder. If you don't like it work to change the law. These companies are not non-profit companies they work for stockholders be they private investors or your union pension fund. Why is it so frowned upon to be successful. If it's legal and makes a profit, I say go for it.

It is legal to lobby Congressional staffers on tax committees to make sure that their (the corporations paying the lobbyist) needs and wants are presented to the COngress critter on the tax committee. Doesn't make it right.

Why is it that these companies want to continue to do business in the bad ole USA one might ask. Could it be because the USA is the largest consumer market in the world, protected by the largest military in the world and the beneficiary of the most stable currency and best court system.

So couple all that and the fact these corporations are making billions off the US market, then they need to pay the taxes they are obligated to pay. Period.

If they do not want to pay US taxes, then let them get the fuck out the the largest consumer market in the world and see how the shareholders like that.

They aren't legally obligate to pay them, fuck-stick, so where do you get off saying they are obligated to pay them? What obligates them, the fact that a bunch of ticks on the ass of society like you want to suck money out of them?

The only thing that ever made America a good place to do business was the fact that for the most part the government stayed out of the way. I marvel at this imbecile liberal theory that somehow government is entitled to extract money from business for not doing what other countries do.

You want to know why US corporation avoid paying their taxes? Because they can.

No kidding? And so do you, moron.

 

[bripat9643]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

But the GOP will fight him on this. They whine about the deficit and then allow corporations to avoid paying tax. They are classic Hypocrites.

Has it ever occurred to you that government can cut spending? Of course not. You're a liberal retard.

 

[Stephanie]

Every week it's something eles by this man

now he's ranting on what people do with THEIR OWN MONIES

it's never ending chaos in our lives since he was elected

You fall it at all our peril

 

[blackhawk]

A President changing laws on his own authority is neither fair or good for the country in the long run but he has no problem with that at least when he's the one doing it.

 

[Stephanie]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

But the GOP will fight him on this. They whine about the deficit and then allow corporations to avoid paying tax. They are classic Hypocrites.

Has it ever occurred to you that government can cut spending? Of course not. You're a liberal retard.

they shock me how they let the Democrat party lead them by the nose and other things if they are men...
it just sad and scary all rolled into on

 

[DigitalDrifter]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

Well how typical, Obama just like the good little Dim that he is once again attacks American companies.

You want them to stay home and be patriotic and pay taxes ? Well then give them an incentive to do so.
U.S. firms are overburdened by the highest corporate tax rate among developed countries, so how about changing that ?
How about if we just lower it to Canada's rate ?

No, you Dims demand they pay even more, so corporations just like individual tax payers will do everything they can to lower their rate.

 

[usmcstinger]

Fair Share is another Socialist term. Companies were leaving the UK do to high Corporate Taxes. Solution: reduced their Corporate Tax rate by 20% and businesses came back.

Unfortunately, the Democratic Socialists Regime is economically challenged. The US has the highest Corporate Tax Rate in the World, suffocating over regulation ( those charged with imposing them don't understand them ) and the extremely flawed Obama Care Health Plan.

The Obama Care Insurance Rates go up in late August. The middle class will not be able to afford Health Care Insurance. POTUS predicated the rates might go up 8%. The increases will be in double digits.

We need a Veto Proof Majority in the Senate. It could happen.

 

[The Rabbi]

Companies have an obligation to shareholders to minimize tax liability. Deal with it.

 

[pvsi]

Obama Calls Out American Companies For 'Gaming The System'

Do I really need to create a thread showing Bush speaking out against war and nation building? just google George Bush you forgot and leave us alone.

 

[SAYIT]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

Well how typical, Obama just like the good little Dim that he is once again attacks American companies.

You want them to stay home and be patriotic and pay taxes ? Well then give them an incentive to do so.
U.S. firms are overburdened by the highest corporate tax rate among developed countries, so how about changing that ?
How about if we just lower it to Canada's rate ?

No, you Dims demand they pay even more, so corporations just like individual tax payers will do everything they can to lower their rate.

Corp profits are taxed twice ... once before they are disbursed to owners and shareholders and again as personal income. Combined the maximum tax (corp + individual) on profits is 74.6%.