The Patriot Post® · Obama Donors Avoid Corporate Taxes Too

Barack Obama has a knack for criticizing corporations that engage in “inversions.” Economists Stephen Moore and Arthur Laffer explain that an inversion is “when an American company merges with a smaller company in a lower-tax jurisdiction” and is therefore “no longer legally U.S.-based and thus is not required to pay U.S. taxes on profits earned abroad.” Obama calls these decisions “unpatriotic,” but the reason companies choose this method is because the U.S. corporate tax rate is, at nearly 40%, the highest in the world. If anything needs reforming, it’s our nation’s corporate tax policy. And if Obama were truly bothered by ethical concerns, he’d stop raking in cash from donors who practice this very technique. Bloomberg News reports, “Obama won’t return campaign donations to [20] executives, advisers and directors who have profited from offshore mergers.” White House Deputy Press Secretary Eric Schultz weakly responded, “[W]hat the president is focused on is stopping the problem.” The buck stops over there. More…