Dan Wasserman by Dan Wasserman

Dan Wasserman

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  1. sw10mm

    sw10mm said, 5 months ago

    Wonder how things would be different if we had an economically intelligent president? Instead he makes stupid comments like muslims built the very fabric of our nation.

  2. MangeyMoose

    MangeyMoose said, 5 months ago

    Obama has been trying to get this congress to close the loopholes that allow this practice since he first took office! AND, to look at the corporate tax structure, which impels these corporations to pull these shenanigans. Congress simply will not act.

  3. echoraven

    echoraven said, 5 months ago

    @MangeyMoose

    Perhaps if he put more effort into that as opposed to the ACA boondoggle, the economic landscape would be different and he wouldn’t be compared to Jimmy Carter (but less ethical).

  4. Rad-ish

    Rad-ish GoComics PRO Member said, 5 months ago

    Last week, President Obama called inversion an “unpatriotic tax loophole” and pressed Congress to pass legislation to stem the flow of corporations that are effectively renouncing their U.S. citizenship. Inversion could cost the Treasury nearly $19.5 billion over the next decade, according to Congress’ Joint Committee on Taxation.

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    Walgreens, the USA’s largest drugstore chain, with more than 8,500 stores, soon will decide whether to take advantage of a loophole in U.S. tax law that would allow it to save billions of dollars by moving its headquarters to Europe, where it is on the verge of acquiring controlling interest in Alliance Boots, a Swiss-based company that operates drugstores in Britain.
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    From the shareholders’ perspective, making the move is a no-brainer: It could save the company roughly $4 billion over the next five years.

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    The loophole is known as tax inversion, a controversial tactic that allows a company that does most of its business in the USA to cut its federal tax bill by merging or buying an overseas company in a lower-tax country and then nominally relocating its headquarters there.
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    Despite years of on-and-off efforts by lawmakers in Washington and the IRS to close the loophole, dozens of American companies have used it — several in recent months.
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    The first corporate inversion to capture attention occurred in 1982, when oil-and-gas company McDermott moved its headquarters to Panama. It wasn’t until 1994, after cosmetics company Helen of Troy moved to Bermuda, that the IRS raised concerns that such restructurings were motivated by the desire to dodge taxes.
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    This year alone, eight major U.S. companies — including AbbVie, Medtronic and Mylan — have announced plans to shift their headquarters overseas in an effort to trim their corporate tax rate, which hovers around 35% in the U.S. and is among the highest in the world.

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    http://www.usatoday.com/story/money/business/2014/07/26/walgreens-inversion-tax-taxes/13090921/

  5. coraryan

    coraryan GoComics PRO Member said, 5 months ago

    @MangeyMoose

    You are right – Harry Reid simply will not act.

  6. coraryan

    coraryan GoComics PRO Member said, 5 months ago

    @Rad-ish

    Last time I looked, it is still a free country (although perhaps not much longer). You can’t make it illegal for companies to leave the country. We need tax reform – the corporate rate is way too high, we cannot compete with other countries. You Liberals want us to be like Europe – well, corporate tax rates are much lower in Europe. Of course, personal tax rates are much higher. Someone has to pay for all that “free” stuff they enjoy in Europe.

  7. echoraven

    echoraven said, 5 months ago

    @Rad-ish

    Do we just close the loophole and stop the hemorrhaging, or should we find a way to bring more companies here?

  8. MangeyMoose

    MangeyMoose said, 5 months ago

    @echoraven

    Congress CAN do much to bring back U.S. Companies to American soil. One such move would be to bring down the corporate tax rate from 35%, the highest of all developed countries, in line with everyone else. This has been known for about 20 years, but congress will not act.

    This is my big gripe with Obama. Although I support other things he has done (and NOT done), I thing the ECONOMY, especially for those of us who work, or used to be able to work, should have been his administrations first priority. NOT jamming down a mandatory health care bill down our throats, and using the IRS to enforce compliance.

    If a Republican gets the White House in 2016, it will be business as usual, with Wall Street calling the shots.

    If Hillary gets in: I don’t know. She is cozy with Wall Street too.

  9. echoraven

    echoraven said, 5 months ago

    @MangeyMoose
    If Hillary gets it, it will be worse. The good thing about a Republican president is the press will do it’s job as the 4th estate. Opposed to what they do now, worship and adore Obama (which Hillary will enjoy).
    .
    Otherwise a very good post Moose, very good post. Little tidbits I disagree with, but probably your best.

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