Jason Harvestdancer
Contributor
I started a police state thread on the prior version, iidb, and filled it with stories I thought relevant. Now I see a relevant set of stories, one news and two opinion, that make a good introduction to starting one here.
Top lawmaker wants corporate tax loophole 'plugged now
Parasite panic
“Economic Patriotism”: The Last Refuge of a Tax Scoundrel
Top lawmaker wants corporate tax loophole 'plugged now
Immediate government action is needed to stop U.S. corporations from avoiding federal taxes by shifting their tax domiciles overseas through deals known as inversions, the head of the U.S. Senate Finance Committee said on Tuesday. Nine inversion deals have been agreed to this year by companies ranging from banana distributor Chiquita Brands International Inc to drugmaker AbbVie Inc and more are being considered. The transactions are setting a record pace since the first inversion was done 32 years ago. Washington is increasingly concerned about this. 'Let's work together to immediately cool down the inversion fever ... The inversion loophole needs to be plugged now,' said Democratic Senator Ron Wyden, finance committee chairman, at a hearing.
Parasite panic
Have you ever spotted a fat, juicy, satisfied blood sucking tick firmly attached to your dog, and pulled it off with a pair of tweezers watching its legs flailing about wildly before you dispatched it? That's what parasites do when you suddenly deprive them of their hosts. They panic. And that's just what the alarmed parasitical politicians in Washington are doing today as they rush to decide what to do about America's corporate 'hosts' that are fed up with over taxation and are moving overseas to avoid it.
“Economic Patriotism”: The Last Refuge of a Tax Scoundrel
It is true that the corporate-state alliance has been strained by the panoply of neoliberal economic policies. But 'globalization' requires doing away with borders only very selectively, when it suits corporate purposes. The American superstate and its international 'trade partners' are more than willing to ignore borders when corporations benefit by moving goods from low-cost labor centers to high-profit sales centers. But that same state and those same partners consider borders of paramount importance when it comes to capturing the tax revenue that pays for all the perks their corporate symbiotes depend on for their continued existence.