Another US company leaves the US (unemployed, legal, drug, Canada)

[HappyTexan]

And by doing this they will save over $500 million in taxes.

No they aren't "cheating"...they are leaving for better places to do business.
And if we don't get our act together and do what other countries do we'll continue to lose US based businesses.


Johnson Controls to buy Ireland-based Tyco for $16.5 billion
By redomiciling to Tyco's headquarters in Cork, Ireland, Johnson Controls would become the latest major U.S. company to carry out a so-called tax-inversion after drug giant Pfizer Inc <PFE.N> structured such a deal with Irish peer Allergan Plc <AGN.N>.
..
The merger will create savings of at least $500 million in the first three years, the companies said. They will save about $150 million a year in tax by basing in Tyco's legal domicile.

[MTAtech]

They aren't leaving for better places to do business. They are redomiciling -- just changing legal status. Nothing substantive is changing.

I don't fault the company for doing this. I fault U.S. law for allowing it. They should be taxed regardless of where the home office is said to be.

[HappyTexan]

Originally Posted by MTAtech

They aren't leaving for better places to do business. They are redomiciling -- just changing legal status. Nothing substantive is changing.

I don't fault the company for doing this. I fault U.S. law for allowing it. They should be taxed regardless of where the home office is said to be.

If the US were smart they would do what every other country does..only tax revenue made in the country, not tax global revenue.

Isn't that being "greedy" ? Why should a company owe tax to the US for revenue earned in another country ?

[Northeastah]

Originally Posted by HappyTexan

If the US were smart they would do what every other country does..only tax revenue made in the country, not tax global revenue.

Isn't that being "greedy" ? Why should a company owe tax to the US for revenue earned in another country ?

agreed

[lifeexplorer]

Originally Posted by MTAtech

They aren't leaving for better places to do business. They are redomiciling -- just changing legal status. Nothing substantive is changing.

I don't fault the company for doing this. I fault U.S. law for allowing it. They should be taxed regardless of where the home office is said to be.

"Allowing" is a very funny word.

If we don't "allow" them, I'd bet no company would be doing business in US - why would anybody want to set up a company when they can't be allowed leave? It would be like... a liberal country such as North Korea, USSR, E. Germany and China.

[DUNNDFRNT]

Trump will make them come back and set up manufacturing here and pay 15/hr to stuff hubcaps in a box.

[db108108]

Question for those who advocate low/no corporate tax. When the revolution comes - the technological one which promises to make 50% of the western workforce permanently unemployed - who is going to pay for the starving hoards?

[J.Thomas]

To be honest i wouldn't even start a business here.

Just go to Ireland, UK or even Canada is better.

Hostile tax environment is killing companies.

[Crossfire600]

Originally Posted by J.Thomas

To be honest i wouldn't even start a business here.

Just go to Ireland, UK or even Canada is better.

Hostile tax environment is killing companies.

You forgot regulatory and compliance laws as well. We need to clean out Washington and start all over from the beginning.

[J.Thomas]

Originally Posted by Crossfire600

You forgot regulatory and compliance laws as well. We need to clean out Washington and start all over from the beginning.

Yeah and there's that.

I didn't even start with regulations