President Obama on inversion

This article has a transcript of his radio address last Saturday, wherein he falls short of calling such corps traitors but instead they are "unpatriotic." Corps are making their highest profit margins ever but no, that's not enough for them. And the are making such profits due to selling their products in our US markets. But screw the country that makes them rich because their tax rate is higher than countries that don't give them anything other than lower tax rates.

As a result of inversion they hurt the hand that feeds them. The lack of tax revenue adds to our deficit. It's harder to have the finances to invest in necessary infrastructure that these corps enjoy. And it plays a further burden on the rest of us who are struggling to get by as it is. This is the thanks we get for making them richer than their wildest dreams. Seems that dream has become a nightmare for everyone else while stoking their monumental greed.


Obama recommends lower the corp tax rate but also closing loopholes. That will certainly not be enough for these greedy 'people' corps. The loopholes are already given them actual tax rates far lower than the purported high rate, which in some cases allows these big corps to already pay not taxes at all. Or worse yet, even get rebates! Obama recommends closing the legal loophole that allows inversion, but rest assured the Congressional regressives will not go along with it because their constituent 'people' are these big corps. And they have every right as their other 'people,' the rich 1%ers that run them. And their only obligation is to themselves, not to the rest of us.