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How to Renounce America and still be


Posted: Jul 17, 2014

This story is about a gilded class of people and corporations enriched by the new American economy while the rest of its citizens pay the tab. The protagonists could be any number of institutional elites, but this column happens to be about a Democratic senator from West Virginia, Joe Manchin, and his daughter, Heather Bresch, the chief executive of Mylan, a giant maker of generic drugs based outside Pittsburgh. Her company's profits come largely from Medicaid and Medicare, which means her nest is feathered by U.S. taxpayers. On Monday, Bresch announced that Mylan will renounce its United States citizenship and instead become incorporated in the Netherlands – leaving this country, in part, to pay less in taxes. This is the sort of story that makes blood boil in populists – voters from the Elizabeth Warren wing of the Democratic Party to libertarians who follow Rand Paul and including tea party conservatives. These disillusioned souls, growing in numbers, hate hypocrites who condemn the U.S. political system while gaming it. Populists can't be happy with how this story was told by Andrew Ross Sorkin of the New York Times. Under the headline "Reluctantly, Patriot Flees Homeland for Greener Tax Pastures," Sorkin cast Bresch as a helpless victim of a system that has made her wealthy and her father powerful. "Heather Bresch grew up around politics. Her father is Joe Manchin, the Democratic senator from West Virginia and a former governor. She has heard him say repeatedly, "We live in the greatest country on Earth," as he did in countless political advertisements. And it appeared to rub off on her: Ms. Bresch was named a "Patriot of the Year" in 2011 by Esquire magazine for helping to push through the F.D.A. Safety Innovation Act." ;

Link to above article - inside..

[ In Reply To ..]
m

I left NY state because of sky high property - taxes, and companies are

[ In Reply To ..]
moving because the taxes are too high here… only fools pay high taxes forever. But I get the liberal hypocrisy.

You sure Manchin is really a Democrat - WV?

[ In Reply To ..]
He likes the Kochs. He opposes Obamacare. He votes for Keystone. You, Senator, are no Democrat.

So, makes perfect sense for his daughter to take off to Europe with her money and her taxes---typically Republican

She's only doing what any responsible businesswoman - would do, and the guy who

[ In Reply To ..]
wrote this article is an a$$. Her father is a member of the party responsible for this mess.

When taxes start to hurt, you vote with your - feet. The USA has

[ In Reply To ..]
one of the most corporate-unfriendly tax systems in the world.
There is also an unfriendly tax system for - individuals, it wants to
[ In Reply To ..]
track and tax the income of all US citizens, and have detailed information on their offshore assets. Not the "land of the free" anymore... unless you're an illegal or a welfare client.
The fair tax would fix this, but then the feds would - have to give up the power of IRS nm
[ In Reply To ..]
x
Don't let the statutory corporate tax rate fool you. - sm
[ In Reply To ..]
The statutory corporate tax rate is high, yes, but due to loopholes and creative accounting/offshoring, the average effective federal tax rate in 2010 was 12.6% for large, profitable U.S. corporations (Government Accountability Office).

"In a report commissioned by Senators Carl Levin (D-Mich.) and Tom Coburn (R.-Okla.), the GAO looked at taxes paid by profitable U.S. corporations with at least $10 million in assets.

Even when foreign, state and local taxes were taken into account, the companies paid only 16.9% of their worldwide income in taxes in 2010.

Coburn said in a statement that the report "underscores the need for comprehensive tax reform."

These corporations are paying historically low amounts of taxes and raking in huge profits while employees' wages stagnate. Thus, the stock market reflects record highs.
And our corporations have the most employee- - unfriendly systems in the world.
[ In Reply To ..]

This is nothing new. - exmm

[ In Reply To ..]
It only seems to be unamerican when certain people do it. Seems like there was a presidential candidate not too long ago who was discovered to have a vast amount of his wealth stored safely away in the Cayman Islands.
I don't blame him, and I don't blame the - woman mentioned in the
[ In Reply To ..]
article. If I was wealthy I would try to keep it too.

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