The tricky Corporate Art of Inversions – poof taxes are gone!

Read this: The trick of Inversions takes place when corporations purposely renounce their American citizenship (remember Romney, “Corporations are people”), usually by merging with a foreign corporation and reincorporating in a low- or no-tax country (also called a tax haven) in order to be treated as a foreign corporation and escape U.S. tax liabilities, but this is actually just a legal maneuver on paper.  Sure is good for the corporation!  What’s most sickening about all of these corporate defections is that U.S. corporations that have reincorporated in another country to take advantage of that country’s lower corporate taxes are still spending significantly on lobbying in the United States.

Corporate Welfage

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