US-Based Medtronic Is Buying Covidien And Moving To Ireland In A $43 Billion Mega-Deal en-us Wed, 31 Dec 1969 19:00:00 -0500 Fri, 26 Dec 2014 22:23:57 -0500 Sam Ro Let Me Tell You Mon, 16 Jun 2014 09:08:14 -0400 Says the man who elects congressman who mire us in wars lasting forever and costing us trillions. Well, then again, you probably think that government's only function is national defense I guess. Think again. Medtronic? They're just like all those another hypocritical republicans who wants to involve us in wars they don't want to pay for or die for (personally). Stick it to the middle class (once again). kennymac Mon, 16 Jun 2014 09:01:20 -0400 I am sure President Blameless would say this loss of good paying jobs has nothing to do with his policies. But we know he is a liar. There is a smidgeon of proof for that premise. mike.smoth Mon, 16 Jun 2014 06:54:59 -0400 As long as we a president that likes to antagonize the private sector and paint them as evil for political purposes even though they pay for most of the taxes and employ millions of people, this trend will continue. It is not just companies leaving this country, the number of Americans ditching their U.S. passports to live and work in another countries is at an all time high. I would not be surprises if companies start taking both their headquarters along with their U.S. based employees out of the country. SpunkyBunks Mon, 16 Jun 2014 05:52:38 -0400 Intel just told us what you said. They will not upgrade our factories in America due to our high tax rates. Now that Intel has competition, they can legally re-distribute their manufacturing to low tax municipalities outside of the USA. Go free trade! TCW Mon, 16 Jun 2014 05:29:09 -0400 Cut corporate taxes to 10%, or something that is competitive with tax havens to bring companies back. Levy a consumption tax instead, i.e. federal GST of 15% for most items. This will fill the coffers. The rationale is simple. Americans consume more than they produce. Foreign companies making profits from Americans do not attract US taxes. The only way to tax foreign profits is to tax at the point of sale. While You're at It Mon, 16 Jun 2014 05:03:17 -0400 Why do only corporations get to do this? If I live overseas and generate my income overseas, why can't I just pay the tax of the country I earned it in and be done with it? youflavio Mon, 16 Jun 2014 04:50:47 -0400 Bullish Dublin real estate tall city Mon, 16 Jun 2014 04:40:02 -0400 damn irish taking all of our jobs Blueswannabe Mon, 16 Jun 2014 02:18:11 -0400 No they're bloody well not, I say this from Dublin, as an Irishman. For one, non-nationalistic thing, we're in the Euro Zone, they still use pounds. It's like an Irishman saying Canada is basically the US because they use the dollar, which would be a stupid statement. For one nationalistic thing, WE ARE A SEPARATE F-ING COUNTRY WHO FOUGHT FOR OUR INDEPENDENCE. suppertime Mon, 16 Jun 2014 00:26:30 -0400 If they're going to pay low effective tax rates anyway, better to give a simple low rate without shenanigans. But this deprives politicians of transactional opportunities. jamesxxxxxxx Sun, 15 Jun 2014 22:35:03 -0400 UK and Ireland are basically the same thing for the purposes of 'tax inversion' jamesxxxxxxx Sun, 15 Jun 2014 22:34:13 -0400 Obviously not. If the companies could have 'tax loopholes' they would not move their businesses overseas. America has the highest business tax rate in the developed world - and they need to drop it to be competitive. Businesses are acting rationally here: why would an org that does 75% of it's business out of America, pay ridiculous American taxes? Americans are stupid to have such a high tax rate. Harmonize it with international levels, and keep the revenue in the US. Tmgotech Sun, 15 Jun 2014 21:46:34 -0400 Politicians across this country have no problem whatsoever in offering tax incentives, or simply touting their low tax rates, to attract new business formation, new manufacturing plants, etc. But when a US company uses the exact same rationale and moves overseas, all of a sudden it is tax avoidance and redistributing tax burdens to other companies. Wise up and implement a fair and competitive tax structure, and the process will reverse almost overnight. mvigod Sun, 15 Jun 2014 21:37:21 -0400 If our dumbass politicians had half a brain they would realize the actual solution to this problem is not closing the loophole but providing relief for the motivation that companies pursue it. In other words, lower the corporate tax rate, period. Make it competitive worldwide. Lower the rate and then cut out the special interest loopholes. They are not necessary once the base rate is competitive on the world stage. Right now US corporate base rate is so high (and yes many co's do actually pay that high rate here) that its nuts not to invert or find some way to avoid taxes like leaving all profits offshare whenever possible. Think of the madness that everyone accepts as normal today where co's borrow billions to buyback shares or pay dividends because they can't even bring money back to the USA. Why is everything this way? Because politicians on both sides are either stupid or highly ineffective. Perhaps useless might be more accurate. This next election. Vote out your incumbents and vote anyone else in if you want to shake things up and get something done. Bedhead Sun, 15 Jun 2014 21:35:43 -0400 I say good. The US has the second highest corporate income tax rate in the world. Lawmakers will only get the message to do something about this when enough corporations have voted with their feet. We're watching history right now but I don't think people realize it. Alan Carl Brown Sun, 15 Jun 2014 21:27:03 -0400 I think Covidien is headquartered in Dublin, Ireland. This is NOT part of the UK as the article seems to imply. Chucky77 Sun, 15 Jun 2014 21:12:58 -0400 The smart ones are moving overseas. Reduce corporate taxes and cut welfare programs and watch our economy blossom. Continue as we are and see the whole country turn into Detroit suppertime Sun, 15 Jun 2014 20:55:28 -0400 Giving and preserving tax loopholes and subsidies is Congress's biggest money maker, no. 1 source of campaign money and post-retirement/defeat payout bonus. This loophole is never going away. Alternate View Sun, 15 Jun 2014 20:42:47 -0400 It's a good thing the Fed provides low interest rate environment so we can easily fund more mergers. You can only lay off so many people without merging.