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Corporate Tax Dodging

"In return, we the people of the United States ask corporations to pitch in to help pay for the roads and courts and schools and scientific research and government contracts and the rest of the things that have helped make them the prosperous entities they are. But a number of American corporations are so fed up with the idea that should pay their taxes that they are actually renouncing their US citizenship. These corporations are "leaving" the US to dodge taxes—but their executives, employees, offices, stores, customers etc. are still here. The only thing that is really leaving the country is the requirement to pay US taxes."

Companies "trying to bolt the US to avoid taxes",   include---

  1. Walgreens
  2. Medtronic
  3. Perrigo
  4. Ingersoll-Rand
  5. Eaton Corp.

The Alternet post explains:

"These corporations are able to “leave” the US by engaging in something called inversion. Explaining an inversion is a bit complicated. A US company buys or merges with a non-US company, and the result is that the US company can be considered to be a company from the other country. But at the same time the company keeps most of its operations, etc. inside the US. The result is that it might still owe taxes on income reported as made in the US, but it owes no taxes on income elsewhere."

For details, click   here 

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