Drudge Retort: The Other Side of the News
Friday, July 25, 2014

With other pieces of his economic agenda such as a minimum wage increase stalled, President Barack Obama turned his attention to corporate taxes Thursday and said U.S. businesses should be concerned not just with profits but also with being "good corporate citizens." During a speech in Los Angeles and an interview with CNBC, the president said it was unpatriotic, comparable to renouncing one's citizenship, and harmful to the U.S. economy for businesses to set up headquarters overseas in order to avoid America's 35 percent corporate tax rate. "They don't want to give up the best universities and the best military and all the advantages of operating in the United States. They just don't want to pay for it."

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mysterytoy

 

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Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

I don't know what he's crying about. You raise taxes and revenues go up. Isn't that what Krugman says?

#1 | Posted by mysterytoy at 2014-07-24 10:36 PM | Reply | Flag:

I don't think you can community organize your way out of this one. Hey, you got a pen and a phone. Order those companies to stay here. We got to get rid of those looooooooooooop holes.

#2 | Posted by mysterytoy at 2014-07-24 10:39 PM | Reply | Flag:

If I understand it correctly our borders are open?

#3 | Posted by AndreaMackris at 2014-07-24 11:15 PM | Reply | Flag: | Funny: 1

"If I understand it correctly"

#3 | POSTED BY ANDREAMACKRIS

I'd say never, sadly.

#4 | Posted by Harry_Powell at 2014-07-24 11:48 PM | Reply | Flag: | Newsworthy 1

GAO: U.S. corporations pay average effective tax rate of 12.6%

money.cnn.com

.
"good corporate citizens."

They want the rights of American citizens, but not the responsibilities.

That Obama, he's such a NeoCon. Just like Hillary.

(I save the extremist rwingers and lwhiners the effort of posting this way. It's very efficient.)

#5 | Posted by Corky at 2014-07-24 11:57 PM | Reply | Flag:

Did he mention Apple and Google by name? Or does everyone just assume he's talking about Haliburton again, instead of his biggest campaign donors who don't pay a penny in US taxes to Washington or California?

#6 | Posted by WhiteDevil at 2014-07-25 01:38 AM | Reply | Flag: | Newsworthy 1

Did he mention Apple and Google by name?

Did he mentioned Haliburton by name? Or are you just assuming that your partisan hacked mind is the norm?

instead of his biggest campaign donors who don't pay a penny in US taxes to Washington or California

So do you think these two are the norm or the exception?

#7 | Posted by jpw at 2014-07-25 01:55 AM | Reply | Flag:

I don't care. And if Obama doesn't pretend to after today, then neither will you.

Nobody cares. Just another talking point in another speech nobody cares about. If liberals really cared about US companies not paying taxes, then the metrosexual crowd wouldn't be buying everything that comes out of Apple's factories in China, and which pass through Hong Kong for zero percent tax treatment.

Nah. Liberals don't care because they like their toys without having to pay for them. Obama doesn't care because Apple gave him a lot of money. Apple doesn't care because they know he's just snapping open and shut the hole in his face again, but they'll offer Jay Carney a six-figure do-nothing job, just to make sure.

And Conservatives don't care because we hate taxes, and think sending more money to Obama to flush away is the stupidest idea in the world, even for the morons who voted for him.

In a couple of days O will "take aim" at something else, and nobody will care about that either.

#8 | Posted by WhiteDevil at 2014-07-25 02:16 AM | Reply | Flag:

He should just write an executive order.
It will override such trivial things as the freedom to decide.

#9 | Posted by Diablo at 2014-07-25 02:18 AM | Reply | Flag:

#8 | Posted by WhiteDevil

That post is so full of generalized projection I don't even know where to begin.

#10 | Posted by jpw at 2014-07-25 02:35 AM | Reply | Flag:

I don't think you don't know what projection means.

Obama doesn't care, and neither does anyone else. He just gives speeches. That's all he's ever done.

#11 | Posted by WhiteDevil at 2014-07-25 04:37 AM | Reply | Flag: | Newsworthy 1

I don't think you don't know what projection means.

You're right. I don't know what it doesn't mean. I mean I do know what it means.

Righties who bemoan Obama "hating 'Murica!" buy just as much foreign made garbage as your fictitious "liberals".

In fact, I'm betting you do too. It likely just has a counterfeit "APple" logo on it.

#12 | Posted by jpw at 2014-07-25 05:05 AM | Reply | Flag:

I bought a counterfeit Apple cord a couple of weeks ago. Could pay 140RMB for a charger cord, or 15. 15 is better. No tax either.

While you're here, I don't get the "Murica" thing either. I think you're making fun of the way certain people talk. Texans maybe. And I do get that. Ever have a camera rolling around a bunch of inner-city Obama voters? Hysterical. Godalmighty, are they dumb.

#13 | Posted by WhiteDevil at 2014-07-25 10:49 AM | Reply | Flag:

UH !!! OH MY....you said "TAKES AIM"....you racist you .lol

gee let's see...higher corporate taxes and so corporations with the FIDUCIARY RESPONSIBILITY TO do what the investors and people who RISK THEIR money as well as thousands on pensions and such.....HIGHER TAXES MEAN less for those people.....gee I wonder why this president didn't know any of this?

Did he mention Apple and Google by name? Or does everyone just assume he's talking about Haliburton again, instead of his biggest campaign donors who don't pay a penny in US taxes to Washington or California?

#6 | Posted by WhiteDevil at

I know that Walgreens is talking about taking their business out of the country...at least the offices etc...but I can't imagine he cares that much about a corporation as relatively small as this....

#14 | Posted by afkabl2 at 2014-07-25 01:04 PM | Reply | Flag:

Obama doesn't care, and neither does anyone else. He just gives speeches. That's all he's ever done.

#11 | Posted by WhiteDevil at 2014-0

yes of course...there's a reason why he runs AWAY FROM THE ISSUE instead of RUNNING TOWARDS an issue.....( cool NYFD reference..huh? )..

he has NO IDEA what to do when it comes to economics or foreign affairs...and if you disagree with that then you are agreeing that he's destroying our economy and allowing the world to burn on purpose.

and that is why from now on he is YOUR ( libs )president,...not MINE.,

#15 | Posted by afkabl2 at 2014-07-25 01:07 PM | Reply | Flag:

COme one Obama they're corporate traitors and nothing less.

#16 | Posted by Tor at 2014-07-25 03:40 PM | Reply | Flag:

sure TOR...just stay here and go down with the ship.....

and then TA DA the PRES RESCUES THEM ALL....course there's one little detail....govt takeover....castro/chavez and maybe even Krushchev are laughing.

#17 | Posted by afkabl2 at 2014-07-25 03:48 PM | Reply | Flag:

Once in a while I go to this local grill for lunch. They always have FOX News going on one of their TVs. Was there for lunch today and the FOX hosts were practically weeping over Obama criticizing corporations who make all their money here but try to hide operations offshore so they don't have to pay taxes.

They described the tax sheltering behavior pretty accurately and then inexplicably claimed it was "unpatriotic" to criticize it.

It was like getting a news feed from Bizarro World.

#18 | Posted by Sully at 2014-07-25 03:48 PM | Reply | Flag: | Newsworthy 1

WHAT"S THAT YOU SAY ??

won't happen...this govt takeover I mention ?? OOOOOOOOOOOOOOOOOO I guess GM never happened.....

"But why am I asking you ?" ....MOVIE REFERENCE...name please ???

#19 | Posted by afkabl2 at 2014-07-25 03:50 PM | Reply | Flag:

so sully....it's patriotic to pay....it's unpatriotic to complain....

so where do we turn ? so what about the idea that we let the corps bring the billions they have overseas back here without the tax burden? or delayed like most corporations moving get...what is it...ten years ?

#20 | Posted by afkabl2 at 2014-07-25 03:52 PM | Reply | Flag:

I don't know what he's crying about. You raise taxes and revenues go up. Isn't that what Krugman says?

#1 | Posted by mysterytoy

I don't know what they're crying about. America gave them their start, then they abandon the country that enabled them to succeed?

That's called pulling the ladder up behind you.

#21 | Posted by SpeakSoftly at 2014-07-25 03:58 PM | Reply | Flag:

Posturing.

First bail out the big fish, then persecute the small ones.

#22 | Posted by Shawn at 2014-07-25 04:00 PM | Reply | Flag:

That post is so full of generalized projection I don't even know where to begin.

#10 | Posted by jpw at 2014-07-25 02:35 AM | Reply | Flag:

Pot meet kettle:

I'm sorry, but to be a die hard Republican one has to accept that the world and all its considerations end at the tip of one's nose.

Posted by jpw at 2014-07-25 02:22 AM | Reply

Then again, righties tend to exist exclusively in a contrived world detached from reality, so carry on.

Posted by jpw at 2014-07-22 02:37 AM | Reply

She's a homeschooler and, therefore, clearly a Conservative.

Logically, it follows that ALL Conservatives are now child starving scum.

Posted by jpw at 2014-07-20 02:13 PM | Reply

If it's a liberal in a room of "conservatives" then they're likely assuming correctly.

Posted by jpw at 2014-07-13 11:37 PM | Reply

#23 | Posted by e_pluribus_unum at 2014-07-25 04:11 PM | Reply | Flag:

I thought corporations were supposed to maximize profits for share holders.

#24 | Posted by bogey1355 at 2014-07-25 04:15 PM | Reply | Flag:

so where do we turn ? so what about the idea that we let the corps bring the billions they have overseas back here without the tax burden? or delayed like most corporations moving get...what is it...ten years ?

#20 | Posted by afkabl2 at 2014-07-25 03:52 PM | Reply | Flag:

Why shouldn't they pay taxes?

Instead of kissing their butts we should be moving in the other direction. Come up with ridiculously high surcharges for companies that hide everything offshore. If they don't pay then they don't get access to our market.

#25 | Posted by Sully at 2014-07-25 04:16 PM | Reply | Flag: | Newsworthy 2

Lower the rates to the point that it becomes more painful and expensive to hide revenues that to pay the taxes. Companies will just laugh at you for calling them unpatriotic.

#26 | Posted by LEgregius at 2014-07-25 04:34 PM | Reply | Flag:

My understanding of this is that it has zero to do with money made in the U.S., and everything to do with money made outside the U.S.

If a U.S. company has a branch in Ireland (Taxes in Ireland) that does work for a branch in India (Taxed in India), and then sell the product in South Africa (Taxes in South Africa), the U.S. taxes the income. It is THAT money that is being removed from the reach of the IRS.

#27 | Posted by USAF242 at 2014-07-25 05:27 PM | Reply | Flag:

Did he mention Apple and Google by name?

The article indicates that he didn't mention any companies by name. However, I believe that this speech is just a warning to the tax dead beats. They have until the next time their taxes are due to change their ways or he probably will call them out by name.

#28 | Posted by FedUpWithPols at 2014-07-25 05:41 PM | Reply | Flag:

#28

I don't think so. If they are following the law, then why are they going to change? If they aren't...then prosecute them, rather than bitch about it in a speech.

He isn't going to call them out by name. As it's already been mentioned in this thread, many of these companies are huge contributors to democrats...and Obama isn't going to screw his own party just to make a point.

#29 | Posted by eberly at 2014-07-25 05:46 PM | Reply | Flag:

"That Obama, he's such a NeoCon. Just like Hillary."

The founder of PNAC thinks Hillary is a neocon. Good enough.

#30 | Posted by nullifidian at 2014-07-25 05:50 PM | Reply | Flag:

GAO: U.S. corporations pay average effective tax rate of 12.6%
money.cnn.com

#5 | POSTED BY CORKY AT 2014-07-24 11:57 PM | FLAG:

Not to mention the ~7% in FICA taxes, not to mention the ~15% that are paid by shareholders on already taxed profits.

So the 'citizens' that are the corporation pay 27% on the profits of the company.

But I understand that simpletons don't get it. Envy gets in the way.

#31 | Posted by RobThomas at 2014-07-25 06:18 PM | Reply | Flag:

"Not to mention the ~7% in FICA taxes, not to mention the ~15% that are paid by shareholders on already taxed profits."

It costs money to have a profitable corporation doing business in the United States. If they don't want to pay the taxes then perhaps they should move their entire operation to some low tax place and stay there. Don't call the USA when things get dicey though, we ain't coming to your rescue.

#32 | Posted by danni at 2014-07-25 07:06 PM | Reply | Flag:

" If they aren't...then prosecute them, rather than bitch about it in a speech."

Presidents often make use of the bull pulpit. It goes with the territory. And in this case he is entirely right, there is no real defense for what these corporations are doing, I personally will make it a point to never shop at Walgreens again and I actually like their stores better than the only other big chain we have here which is CVS.

#33 | Posted by danni at 2014-07-25 07:09 PM | Reply | Flag:

Mitt said that "corporations are people" and the Supreme Court seems to agree.

Once they leave should they not have to go to the back of the line for a green card before working here? Why should we have illegal foreign corporate people taking jobs away from American corporate people?

And why should corporate people not file the same 1040 forms and pay the same rates as biological people? Doesn't the 14th Amendment require equal protection for all people whether corporate or biological?

#34 | Posted by TenMile at 2014-07-25 07:27 PM | Reply | Flag:

He isn't going to call them out by name

Perhaps not in a speech but perhaps in a new publicly available dataset that contains the taxes paid by public corporations. Then "we the people" can slice and dice that information anyway we see fit.

I believe it was last year that CMS made available, for the first time, a dataset that exposed the amount it paid to hospitals and doctors. And, for several years now, CMS has made available data sets showing the quality of service provided by hospitals, nursing homes, dialysis facilities, etc. Also, it is my understanding that this fall, HHS will release a dataset that exposes the quality of services provided by physician groups. At least one state, NY, has even sponsored a app development challenge that requires the use of quality and cost datasets developed by NY and/or the feds.

There are ways to expose these tax deadbeats without doing it in a speech.

#35 | Posted by FedUpWithPols at 2014-07-26 04:23 AM | Reply | Flag:

If I understand it correctly our borders are open?

Posted by AndreaMackris at 2014-07-24 11:15 PM | Reply | Funny 1

Are borders really closed?? After all the air passes over them without restrictions. There's no dome country after all.

#36 | Posted by LarryMohr at 2014-07-26 06:56 AM | Reply | Flag:

Ha! Google, Apple, and other offshore and do everything they can to avoid taxes. Friends of Obama and big supporters.

Apple used a "complex web" of offshore entities -- with no employees or physical offices -- that allowed it to pay little or no taxes on tens of billions it earned overseas, according to a Senate investigation unveiled Monday.

Between 2009 and 2012, the company shielded at least $74 billion in profits from U.S. tax laws by setting up subsidiaries in Ireland under a special arrangement, the report said.

--

Google, for example, has used a pair of tax shelters known by tax attorneys as the "Double Irish" and "Dutch Sandwich" that move foreign profits through Ireland and the Netherlands to Bermuda to avoid about $2 billion in income taxes a year, according to the company's filings in the U.S.

--

#37 | Posted by sames1 at 2014-07-26 08:28 AM | Reply | Flag:

Don't call the USA when things get dicey though, we ain't coming to your rescue.

#32 | POSTED BY DANNI AT 2014-07-25 07:06 PM | FLAG:

Small minds do not realize that shareholders are the corporation and pay taxes on dividends and capital gains. They have a right to call on the US.

Annually a corp pays 12% before distribution.
Annually individual shareholders pay ~16% on dividends as ordinary income.
One time individuals pay ~15% on captital gains if they sell the shares.

I guess paying ~28% annually is not enough for some.

#38 | Posted by RobThomas at 2014-07-26 11:09 AM | Reply | Flag:

Least you forget, corporations also pay state taxes.

#39 | Posted by MSgt at 2014-07-26 08:05 PM | Reply | Flag:

Danni et. Al. Where would you and thousands of others work if companies did move? The whole anti-business attitude over the last 6 years is why we're are in this long stretch of high unemployment. If you take out those who have retired and those who have exited the work force unemployment is exactly where it was when Obama took office.

My question is: Will Obama trade 5 criminal business for one deserter

#40 | Posted by foshaffer at 2014-07-27 08:49 AM | Reply | Flag:

nice obama is worried corporate greed while he funds-raise at $25,000 a plate, meanwhile we are being invaded by parasites from the south.

#41 | Posted by danv at 2014-07-27 03:19 PM | Reply | Flag:

"The whole anti-business attitude over the last 6 years is why we're are in this long stretch of high unemployment."

But the job losses started when Bush was still President and they were the result of the collapse of the Greenspan/Bush Housing Bubble so your claim is utter nonsense. It has taken Obama this long to just replace the jobs lost due to the housing bubble crash, unemployment is shrinking at a fairly fast rate now.

#42 | Posted by danni at 2014-07-27 03:39 PM | Reply | Flag:

" they were the result of the collapse of the Greenspan/Bush Housing Bubble "

Didn't Clinton reappoint Greenspan?

#43 | Posted by nullifidian at 2014-07-27 03:40 PM | Reply | Flag:

"meanwhile we are being invaded by parasites from the south."

Parasites willing to work 12 hours a day, 7 days a week for their "free market" believing employers who pay them slave wages and want to eliminate the minimum wage for everyone. Generally speaking, it isn't flaming liberals hiring the illegal aliens and exploiting their illegal status.

#44 | Posted by danni at 2014-07-27 03:43 PM | Reply | Flag:

"It has taken Obama this long to just replace the jobs lost..."

Oh, Criminy...those jobs have NEVER been replaced. All the part-time jobs and all the labor force dropouts which have been finagled to show false results and YOU suck it up like gospel. NO HOPE! I can't take it any more. If I could, I'd remove your qualification to vote. Please tell us how Obama has secured the border and brought "tranquility" to the Middle East too.

#45 | Posted by jestgettinalong at 2014-07-27 03:54 PM | Reply | Flag:

"Obama turned his attention to corporate taxes Thursday and said U.S. businesses should be concerned not just with profits but also with being "good corporate citizens."

Definition:
Good corporate citizens- those corporations making large donations to his and other democrats' campaigns. Good corporate citizens often acquire large tax breaks.

#46 | Posted by jestgettinalong at 2014-07-27 04:00 PM | Reply | Flag:

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