Saturday, July 19, 2014

Not able to Lower Corporate Taxes, GOP tantrum seeks to expand off shore tax havens for Business.

At first I thought, “Why would Democrats vote against a tax deduction for corporations who donate food to charities?”

Here’s why: Rep.’s Paul Ryan, James Sensenbrenner, Tom Petri, Sean Duffy and Reid Ribble, angry they can’t reduce corporate tax rates, want corporations to reincorporate overseas to avoid paying taxes. You read that right. 

Nice strategy, don’t you think. Of course that only increases our deficit by reducing revenues even at current spending levels. Ever get the feeling the GOP wants to make things worse? Now you know they do. Roll Call:
Corporate Tax Avoidance: The House defeated a bid by Democrats to deny benefits under HR 4719 (Charitable Deductions, National Debt bill) to businesses that reincorporate overseas to avoid U.S. taxation, a process known as “inversion” that is becoming increasingly prevalent.
Voting to discourage corporate tax dodging through “inversion,” were Democrats Mark Pocan, Ron Kind and Gwen Moore.

Voting to allow corporations to off shore their profits to avoid paying their fair share of taxes? Ryan, Sensenbrenner, Petri, Duffy and Ribble. Way to go guys, one way or another you'll bring this country down to its knees. 

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