Scribbling, scribbling, scribbling on the Internet.
The "moral outrage over tax inversions" is feigned outrage. It is ginned up, fake, astroturfed outrage that will go away as soon as the midterm elections are over. It currently commands (too much) attention because President Obama and the Democratic party are worried that they might lose the Senate in the midterms, because they have no genuine …
Continue reading "This Blog Post Is Dedicated to Stephen Bainbridge"
Courtesy of Greg Mankiw:“Some people are calling these companies ‘corporate deserters.’ ”That is what President Obama said last month about the recent wave of tax inversions sweeping across corporate America, and he did not disagree with the description. But are our nation’s business leaders really so unpatriotic?A tax inversion occurs when an American company merges with …
Continue reading "Some Common Sense on Corporate Tax Inversions"
Anyone really surprised by this?President Barack Obama won’t return campaign donations to executives, advisers and directors who have profited from offshore mergers that reduce corporate taxes using a technique he has called “unpatriotic.”Responding to a Bloomberg News report that described connections between more than 20 Obama donors and the tax-cutting transactions, White House Deputy Press Secretary …
To wit:President Barack Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. His own administration helped one $20 billion American company do just that.As part of the bailout of the auto industry in 2009, Obama’s Treasury Department authorized spending $1.7 billion of government funds to get a bankrupt Michigan parts-maker back …
Continue reading "If Only We Had Some “Economic Patriotism” in the White House"
A know-nothing when it comes to economics and a McCarthyite when it comes to discourse. The notion that corporations and other businesses now have to take "loyalty oaths" so that they will be prevented from acting rationally in the face of ridiculous and onerous taxes and tax policy insults the intelligence of just about everyone, …
Dear Media: Please be more competent when discussing the details of the Obama administration's corporate tax plan. Best, Pejman
