Sanders Blasts Corporate Deserters

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XtremeJibber2001
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Sanders Blasts Corporate Deserters

Post by XtremeJibber2001 »

Gave me a good chuckle ....
Sanders Blasts Corporate Deserters
JANUARY 25, 2016
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AMES, Iowa – U.S. Sen. Bernie Sanders on Monday denounced “corporate deserters” after Johnson Controls and Tyco International announced a plan to merge the manufacturing giants in the latest example of a U.S.-based company acquiring a foreign firm to avoid paying U.S. taxes.

“The potential Johnson-Tyco merger would be a disaster for American taxpayers,” Sanders said. “Profitable companies that have received corporate welfare from American taxpayers should not be allowed to renounce their U.S. citizenship to avoid paying U.S. taxes. These corporate inversions must stop.

“My message to these corporate deserters is simple: You can’t be an American company only when you want corporate welfare from American taxpayers or you want lucrative contracts from the federal government,” Sanders continued. “If you want the advantages of being an American company then you can’t run away from America to avoid paying taxes.”

Sanders last year introduced the Corporate Tax Dodging Prevention Act. It would end the inversion tax scam by treating corporations as American corporations for tax purposes when it is still majority owned by U.S. interests.

In November, Sanders called on the Obama administration and Congress to stop a similar deal involving Pfizer and Allergan that would lead to higher prescription drug prices. “The Pfizer-Allergan merger would be a disaster for American consumers who already pay the highest prices in the world for prescription drugs,” Sanders said at the time. “It also would allow another major American corporation to hide its profits overseas.”

Sanders’ Senate bill also would also stop corporations from avoiding $100 billion in taxes a year by stashing their profits in the Cayman Islands and other offshore tax havens.
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Re: Sanders Blasts Corporate Deserters

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XtremeJibber2001 wrote:Gave me a good chuckle ....
Sanders Blasts Corporate Deserters
JANUARY 25, 2016
Twitter Facebook Email Link

AMES, Iowa – U.S. Sen. Bernie Sanders on Monday denounced “corporate deserters” after Johnson Controls and Tyco International announced a plan to merge the manufacturing giants in the latest example of a U.S.-based company acquiring a foreign firm to avoid paying U.S. taxes.

“The potential Johnson-Tyco merger would be a disaster for American taxpayers,” Sanders said. “Profitable companies that have received corporate welfare from American taxpayers should not be allowed to renounce their U.S. citizenship to avoid paying U.S. taxes. These corporate inversions must stop.

“My message to these corporate deserters is simple: You can’t be an American company only when you want corporate welfare from American taxpayers or you want lucrative contracts from the federal government,” Sanders continued. “If you want the advantages of being an American company then you can’t run away from America to avoid paying taxes.”

Sanders last year introduced the Corporate Tax Dodging Prevention Act. It would end the inversion tax scam by treating corporations as American corporations for tax purposes when it is still majority owned by U.S. interests.

In November, Sanders called on the Obama administration and Congress to stop a similar deal involving Pfizer and Allergan that would lead to higher prescription drug prices. “The Pfizer-Allergan merger would be a disaster for American consumers who already pay the highest prices in the world for prescription drugs,” Sanders said at the time. “It also would allow another major American corporation to hide its profits overseas.”

Sanders’ Senate bill also would also stop corporations from avoiding $100 billion in taxes a year by stashing their profits in the Cayman Islands and other offshore tax havens.
sanders and his minions are economic illiterates...good luck getting any of his "ideas" to bear fruit...
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Re: Sanders Blasts Corporate Deserters

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Dr. NO
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Re: Sanders Blasts Corporate Deserters

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This from the guy who wants a maximum tax rate of 90% or so. Yep, I wanna be a corporation or Millionaire in the US with Bernie running the show.
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Re: Sanders Blasts Corporate Deserters

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Dr. NO wrote:This from the guy who wants a maximum tax rate of 90% or so. Yep, I wanna be a corporation or Millionaire in the US with Bernie running the show.
NO congress would ever vote for that or any of his other idiot ideas, I'll take sanders over clinton any day, cuz sanders would be mostly neutralized by his own policy proposals... none of which he would have any authority to issue executive actions on...
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Re: Sanders Blasts Corporate Deserters

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The Countries with the Highest Tax Rates

If you want FREE stuff, someone has to pay for it. Check out the top 3 tax country and their near 60% tax rates.

http://www.msn.com/en-us/money/taxes/th ... c#image=99" onclick="window.open(this.href);return false;
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madhatter
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Re: Sanders Blasts Corporate Deserters

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Dr. NO wrote:The Countries with the Highest Tax Rates

If you want FREE stuff, someone has to pay for it. Check out the top 3 tax country and their near 60% tax rates.

http://www.msn.com/en-us/money/taxes/th ... c#image=99" onclick="window.open(this.href);return false;
yep, but if yer not the one paying it seems more than fair...
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Re: Sanders Blasts Corporate Deserters

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Sanders last year introduced the Corporate Tax Dodging Prevention Act. It would end the inversion tax scam by treating corporations as American corporations for tax purposes when it is still majority owned by U.S. interests.

Sanders’ Senate bill also would also stop corporations from avoiding $100 billion in taxes a year by stashing their profits in the Cayman Islands and other offshore tax havens.
So if you were a US company with products that sell all over the world, and you can build a factory in a country that buys lots of your products, and the profits from that country's sales are taxed at a significantly lower rate, why not generate those tax savings? It seems to me the effect of enacting the Sanders Tax Dodge Act is to encourage even more sales of large US companies to foreign entities. There is no way to stop the sale of an asset unless you build an iron curtain and force all trade to remain domestic. We know how well the last iron curtain worked out.

We need to stop eyeing profits made overseas as 'our money' to tax. We need to have tax rates that are globally competitive, not punitive. Notice I didn't say equal to overseas tax rates. A competitive rate might be slightly higher, but the advantages of being based in the US outweigh the slightly higher rate. What the market is telling us is that the corporate tax rate is so high that it pays to leave.

(See GE leaving CT for MA)

What does make sense is for the IRS to enact a market rate requirement for interest rates charged to US companies by related foreign companies. The same requirement is already in place for certain domestic close relationships.
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Re: Sanders Blasts Corporate Deserters

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Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese.
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Re: Sanders Blasts Corporate Deserters

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steamboat1 wrote:Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese.
whatever, it was someone else's money so who cares?
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Re: Sanders Blasts Corporate Deserters

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madhatter wrote:
steamboat1 wrote:Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese.
whatever, it was someone else's money so who cares?

A Look At Jane Sanders' Role In The Closure Of Burlington College
By Alex Keefe, Annie Russell & Lynne McCrea • May 18, 2016

http://digital.vpr.net/post/look-jane-s ... 7#stream/0" onclick="window.open(this.href);return false;
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Re: Sanders Blasts Corporate Deserters

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Re: Sanders Blasts Corporate Deserters

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^ Where did Free Parking go?
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Re: Sanders Blasts Corporate Deserters

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steamboat1 wrote:Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese.
Sounds like she could have used the considerable expertise Trump has in Chapter 11 filings.
Carly Fiorina on Donald Trump wrote: You know, there are a lot of us Americans who believe that we are going to have trouble someday paying back the interest on our debt because politicians have run up mountains of debt using other people's money. That is in fact precisely the way you ran your casinos. You ran up mountains of debt, as well as losses, using other people's money, and you were forced to file for bankruptcy not once, not twice, four times.
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Re: Sanders Blasts Corporate Deserters

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I came across this via Ben Stein:
You poor saps. You went to bed with Bernie, and woke up with Hillary.
I know to you he was an anomaly, a phenomenon, a kooky Brooklyn socialist who told it like it was. But, let me tell you who this kooky Brooklyn socialist really is and was. Growing up in Brooklyn as I did, people like Bernie were a dime a dozen. Every street corner, temple, and laundromat has a Bernie.
The older and older I got, the less I found what Bernie said to be cute or funny. I started finding it rude to interrupt people while they were talking, rude to scream at the rabbi about free lunch while he was speaking. I realized that Bernie screamed so much that his screams became silent. I realized that all those meals after temple were paid for by hardworking people. I realized that the lights and air conditioning weren’t free. I realized that those that couldn’t afford the dues were given scholarships by the people Bernie was mocking. And most of all, I realized that the loudest mouth in the room was one of those that was given those scholarships. That’s when I realized who the cool people in the room really were.
I dare you, right now, to tell me one revolutionary thing Bernie has done other than revolt. You think Bernie is a tough guy sticking it to the man, but no, Bernie is the guy that gets from the man, then complains that it’s not enough. The only thing that separates your Bernie and my Bernie is that mine retired to Del Boca Vista, and yours found a tiny town in Vermont that found his shtick amusing.

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