Dodging Taxes – Big Time Companies Are Moving Their HQs Overseas

There is nothing but cold contempt for the alarming headline on the cover of Wood for treesFortune. It reveals a sleazy course of conduct by many large US corporations and reads like a tragicomedy. Making it worse is the fact that these corporations still believe they’re good corporate citizens that deserve the same benefits in the US!

Clearly the US Government has been drafted into a war that it created and needs
to shatter its complacency and ensure that strong rhetoric is not left to stand on its own, without strategy to translate words into positive action. This spreading sore
is a hangover of America’s lacks corporate tax system and requires the cleansing fire of restructuring with a conference of action that closes loopholes and reasserts the interdependence of US corporations and American society with shared responsibilities, shared values and shared benefits. Shareholder value might be
a result not a strategy, but tax is the picture and it doesn’t change the issues.

images-11What has made American corporations great is their passion for acquisition, exchange and accumulation, but the grim fact is that many large US corporations haven’t paid billions of US taxes for years so this maneuver is the “post hoc ergo propter hoc” fallacy (after this therefore because of this). The Government must stop being shackled by the crippling decisions it’s made in the past regarding US Corporations’ legitimate and sanctioned avoidance of US taxes. It’s akin to junk food – it has little nutritional value (for the country), is bad for your health (economy) and is a hard habit to kick. Facts are stubborn things and this news just makes avoiding US corporation tax official so get your wallet out and pay their share.

http://fortune.com/2014/07/07/taxes-offshore-dodge/

 

 

 

 

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Author: Dean Crutchfield

In an award-winning career spanning two decades, Dean Crutchfield has created, built and re-invigorated some of the world's most iconic brands.

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