From the Washington Times comes another story that showcases the liberal mindset.
The White House sent out a letter to the Senate Finance Committee late Tuesday, calling on Congress to consider a “new sense of economic patriotism” — code for a ban on big businesses moving headquarters overseas to save on taxes.
Treasury Secretary Jack Lew penned the letter to Chairman Ron Wyden, Oregon Democrat, requesting congressional members to set a rule against U.S.-based companies from enacting “inversion” transactions simply to change their tax domicile and save on taxes, Politico reported.
“The president has called for undertaking business tax reform as a way to improve the investment climate in the United States and to support the creation and retention of high-quality American jobs,” Mr. Lew wrote. “What we need as a nation is a new sense of economic patriotism, where we all rise or fall together. … We should not be providing support for corporations that seek to shift their profits overseas to avoid paying their fair share of taxes.”
Perhaps if Congress lowered the oppressive corporate tax rate — a job-killing 35 percent — businesses wouldn’t be looking for a way out.
So exactly what is “economic patriotism”? I’d say creating jobs, donating to the community, sponsoring events, providing an array of benefits as part of compensation, is the height of patriotism.
