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President Obama hits ´corporate
deserters´ in populist L.A. speech

Los Angeles Times, by Kathleen Hennessey

Original Article

Posted By:PageTurner, 7/24/2014 6:48:59 PM

Tearing into companies he dubbed “corporate deserters,” President Obama on Thursday launched an election-year push to make it harder for U.S. companies to avoid paying taxes. Under a bright sun at a trade and technical college in Los Angeles, Obama issued a damning assessment of a “small but growing” group of companies taking advantage of a “loophole” in corporate tax law by reorganizing overseas, often in low-tax countries. President Obama speaks at local college CAPTION President Obama speaks at local college Jabin Botsford / Los Angeles Times People cheer as President Barack Obama speaks at Los Angeles Trade-Technical College on Thursday. CAPTION President Obama speaks at local college Jabin

Comments:
Always beneath his office. This is the sort of speech Joe Stalin might have given 60 years ago.

      


Post Reply  

Reply 1 - Posted by: jerseytomato, 7/24/2014 6:53:17 PM     (No. 9938808)

What a strange man our President is.

No mention of his ´friend´ who owns Facebook, or his pal Jeffrey at GE.

Obama´s use of ´smoke and mirrors´ is endless.

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Reply 2 - Posted by: droopydog, 7/24/2014 6:54:45 PM     (No. 9938811)

Didn´t his buddy and "economic advisor" Jeff Immelt move a 100 and something year old GE X Ray division to China?

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Reply 3 - Posted by: plex, 7/24/2014 7:13:26 PM     (No. 9938833)

Here´s a clue. LOWER corporate taxes. By the way. Every dime of a corporation´s cash flow, profits, taxes comes from the customer as part of the price. Foreign companies don´t pay our high rate, so they can lower their prices and beat homegrown prices. Simple. Corporations may write the check for taxes, but the money is collected from the customer; hence the phrase that corporations don´t pay taxes, they collect them from their customers. Lower taxes -> lower prices and not offshore movement.

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Reply 4 - Posted by: Coy860, 7/24/2014 7:13:30 PM     (No. 9938834)

Like WV Manchin´s (d) daughter moved her drug company offshore?

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Reply 5 - Posted by: ladychatalie, 7/24/2014 7:36:29 PM     (No. 9938855)

When he used the term "corporate deserters," I thought he was talking about people who spend their lives working at non-profits and in government.

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Reply 6 - Posted by: 3XALADY, 7/24/2014 8:31:11 PM     (No. 9938902)

So what´s new? This has been going on since the first shoe companies moved their factories back in the 60´s. I didn´t figure there was many more to move, figuring they were mostly already gone. Just a reminder - GE also closed their light bulb factories here and who ever bought them moved them to China.

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Reply 7 - Posted by: ColonialAmerican1623, 7/24/2014 9:39:34 PM     (No. 9938956)

He never misses an opportunity to grandize instead of taking that pen to make a real difference.

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Reply 8 - Posted by: Safari Man, 7/24/2014 9:44:41 PM     (No. 9938965)

Now I KNOW those companies who are moving offshore are doing EXACTLY the right thing. As long as the USA is on this socialist slide, you would have to be a fool not to get your business out of the USA as much as possible (even if it means simply not repatriating offshore income).

Compare to Venezuela and Cuba and every other Marxist country. Those that escaped did the right thing -- those that stayed did not. The more Obama talks about it, the more important it is for American businesses to reduce their exposure to our Marxist government.


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