Obama Seeks to Block U.S. Corporations From Moving Overseas

"Economic patriotism" is the last refuge of the scoundrel.

Striking a populist stand ahead of the midterm elections, President Barack Obama is demanding "economic patriotism" from American corporations that seek overseas mergers to avoid U.S. taxes.

Obama and congressional Democrats are pushing to severely limit such deals, a move resisted by Republicans who argue the entire corporate tax code needs an overhaul.

"The president has made clear that these companies are essentially renouncing their American citizenship by shipping their profits overseas to avoid paying taxes even as they benefit from all the advantages of being here in America," White House spokesman Eric Schultz said ahead of Obama's remarks. "That's precisely what we mean by economic patriotism."

Comments

[Free Society]

Edwin! How noble and pure is populism eh?

[NotAnotherSkippy]

Funny, he's got no problem taking charitable tax deductions for his partisan causes. Why won't he pay his fair share?

[jdfinct]

Yeah I never gotten a logical answer from any my my lib friends who i have asked this question. They just make no sense trying to answer it without violating their fair share anti rich people stances lol
My fault of course for expecting logic from a liberal though right?

[Sevo]

Shame on those companies for obeying the laws!

[Sevo]

Oh, and maybe Moonbeam can do the same:
"Rick Perry scores 1,200 Schwab jobs for Texas"
http://blog.sfgate.com/pender/.....for-texas/

Those Schwab people use CA roadz!!!!!!!!!!

[Bardas Phocas]

Where we're going, we don't need roadz!

[Wandering Texan]

Its 2014, where the fuck is my flying car?

[buybuydandavis]

"Obama Seeks to Block U.S. Corporations From Moving Overseas"

Could someone quote the appropriate scene from Atlas Shrugged?

[XM]

The "economic traitors" shovel tons of money at the Dem's feet.

Although under constant attack by liberals, these corporations are progressive strongholds. I'll oppose high taxes and government coercion in principle, but if the likes of GE or GM are disallowed from find tax havens or cheap Chinese workers, I won't cry too much.