‘Economic patriotism’ ‘Corporate Deserters’ are new buzzwords calling for US shift to Nazism
Nazism, or a form of national socialism, is the call from a growing number of politicians, writers and the current Treasury Secretary as new buzzwords signal for a shocking change in America.
A week or so ago Treasury Secretary Jack Lew demanding Congress act in the name of “economic patriotism,” warning of corporations making major changes which would reduce their tax liability. The Senate Finance Committee held a hearing and Senate Majority Leader Harry Reid has brought legislation dealing with outsourcing to the chamber floor and then President Obama spoke out Thursday.
This Newsweek cover caused a stir over socialism, but the new rhetoric may be even scarier
“We need to stop companies from renouncing their citizenship just to get out of paying their fair share of taxes,” Obama said. “It sticks you with the tab to make up for what they’re stashing offshore through their evasive tax policies,” he said. “If you’re a secretary or you’re a construction worker, you don’t say, ‘you know what? I feel like paying a little less so let me do that.’ You don’t get a chance to do that — these companies shouldn’t either. ”
Daily Beast writer Jonathan Alter goes even further in his article “The United States needs loyalty oaths.” Yes, Alter knows that sounds like the rhetoric of Facists, even writing: “Because oaths and pledges are a little creepy, this effort needs something else—something that comes out of the legal and business worlds: a contract. More specifically, an NDA” – this now meaning the ““non-desertion agreement.”
“If boards thought for even a second about the long-term interests of their companies, they would summon their lawyers and sign. It’s protection against the risks of resurgent nationalism that could strip them of the many advantages (indirect government subsidies, easy access to American markets) that they currently enjoy,” Alter writes, calling for all CEOs to conform to the mandate.
Forty-seven U.S. corporations have reincorporated overseas during the last decade, according to recent data compiled by the Congressional Research Service. This is known as “inversion.” (Emphasis added)
Sens. Dick Durbin of Illinois, Elizabeth Warren of Massachusetts and Jack Reed of Rhode Island said that even though they’ve introduced legislation to end the practice, the president shouldn’t wait any longer.
“Our efforts should not preclude executive action to prevent corporate inversions. The coming flood of corporate inversions justifies immediate executive action,” they said.
Asked about the letter, the White House would not rule out executive action.
“If there is any sort announcements that we have to make about steps the president could take unilaterally, we’ll announce it at a later time. I’m not in a position to make any announcements like that now,” White House press secretary Josh Earnest told reporters. “But it is our view that Congress should take the necessary step to address this loophole.”
This loophole is said to be worth $20 billion…$20 billion on a trillion dollar budget or 2%.
“If Republicans cared about this issue, which most don’t, they would revive McCarthy-era loyalty oaths, where people were forced to swear that they weren’t communists,” the Beast writer states.
So, McCarthy was bad, very bad – ask Chris Matthews compares Ted Cruz to the man nearly every week. Corporations are not individuals if we are talking about Hobby Lobby and the Obamacare mandate, but here, 2% of the tax revenue is worth dusting off loyalty oaths or else.
The “or else” may come sooner than later in the form of an executive order, so companies need to decide: You are either with President Obama or you are against him.
