The Obama administration is highly exercised about “inversion,” the practice by which an American corporation acquires a foreign company and moves its headquarters out of the U.S. to benefit from lower tax rates abroad.
Not fair, says President Barack Obama. It’s taking advantage of an “unpatriotic tax loophole” that hardworking American families have to make up for by the sweat of their brow. His treasury secretary calls such behavior a violation of “economic patriotism.”
(Excerpt) Read more at amarillo.com ...
