U.S. corporations are bugging out.
America has the world’s highest corporate tax, at 39.1%, and combining that fact with uncertainty of anti-business policies Obama threatens, they’re leaving the USA.
By ‘inverting’, they’re selling corporate ownership to smaller foreign companies, whose countries have a much lower tax rate that’s enticing the change in ownership.
Obama thinks that’s ‘unpatriotic’ and threatens to change laws to stop the inversions, which is ironic when you realize it’s Democrat tax policy that caused it to begin with.
Corporations have been sitting on trillions of dollars due to his anti-business agenda, refusing to invest in growth or new equipment because of the inherent uncertainty.
Now due to Democrat tax policy, they’re bailing out, taking that money with them.
If Obama tightens his corporate choke-hold, he could drive multi-national companies away altogether, according to Investor’s Business Daily.
Either way, Democrat policy is risking trillions…to tax billions.