Workers & Economic Inequality

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Inverting the Competition: TCF Fellow Ed Kleinbard Reveals the Real Reason Why American Companies Are Selling Out

August 20, 2014 COMMENTARY BY: Michael Cassidy TOPICS: Workers & Economic Inequality, Creating Tax Fairness

A tax loophole is allowing American companies to avoid paying billions of dollars in corporate taxes. TCF policy associate Mike Cassidy explains TCF fellow Ed Kleinbard’s simple plan to end inversions and bring that tax revenue back home.

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Tags: inversions, ed kleinbard, corporate taxes, corporate tax envasions

Tax Burden in U.S. Not as Heavy as It Looks, Report Says

TCF fellow, Edward D. Kleinbard has been quoted in an article on the New York Times about corporate tax in the U.S.

For years, chief executives have complained bitterly about the United States corporate tax code, arguing that it is too complicated and that rates are too high. The issue has reached a near boiling point this summer as many large American companies have sought to buy smaller foreign rivals so they can renounce their United States corporate citizenship and reincorporate overseas to lower their tax bills. Others are considering the move, known as an inversion.

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Tags: tax reform, tax inversions, corporate taxes, corporate tax

Fleischer sides with Obama’s pen pushers on inversions

TCF fellow, Edward D. Kleinbard has been quoted in a Politico article about the corporate tax rate. 

The former JCT chief of staff and University of Southern California law professor weighs in on Corporate America's argument that the 35 percent corporate tax rate is driving U.S. firms to offshore havens, in a paper that will soon appear in Tax Notes.

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Tags: tax rules, tax inversions, corporate taxes, corporate

How Americans Scared Walgreens Out Of A $4 Billion Tax Dodge

Huffington Post has quoted TCF fellow, Edward D. Kleinbard, in an article on Walgreens' decision to keep its headquarters in the U.S.

Walgreens just rocked the boat for companies fleeing U.S. soil to avoid paying taxes.

Walgreen Co., the drugstore chain's parent company, announced Wednesday that it would not move its headquarters to Switzerland to take advantage of its relatively low corporate tax rates after the company completes a purchase of European rival Alliance Boots. Such a move might have cost U.S. taxpayers $4 billion over five years, according to a report by the nonprofit group Americans for Tax Fairness.

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Tags: tax inversions, corporate taxes, corporate tax, corporate profit

White House Seeks Ways To Go It Alone In Keeping Companies Stateside

TCF fellow, Edward D. Kleinbard, speaks about corporate tax inversions  in a interview for WNKU radio.

President Obama says he's looking for ways to stop the spread of corporate inversions. Here's how they work. A U.S. corporation merges with a smaller foreign company, then moves its legal headquarters overseas to lower its tax rate. But as NPR's Jim Zarroli reports, there are limits to what the administration can do to discourage these transactions without the approval of Congress, and that's unlikely to anytime soon.

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Tags: tax inversions, corporate taxes, corporate tax, corporate profit

Walgreens Abandons Relocation Scheme To Avoid U.S. Taxes After Public Shaming

TCF fellow, Edward D. Kleinbard, has been quoted in a Daily News article about Walgreens abandoning plans to relocate its headquarters overseas.

The Deerfield, Illinois-based drugstore company, which was thinking of relabeling by itself as Swiss or British Switzerland's Alliance Boots, has outraged lawmakers and Most important Road about its proposed tax dodge.

The tactic, which is completely legal, is identified as a "company inversion," and has develop into common in the past couple several years, generally amid U.S. pharmaceutical giants. By technically moving a headquarters to a tax-pleasant deal with exterior the U.S. by means of a merger or acquisition, organizations can wiggle out of spending taxes on income earned overseas &mdash which in this situation, would impact earnings from Boots.

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Tags: tax inversions, corporate taxes, corporate profit

 

Workers & Economic Inequality

Workers & Economic Inequality

In recent decades, and especially since 2000, the richest Americans have enjoyed soaring income and wealth while the rest of the population's living standards have stagnated. The Century Foundation was one of the first institutions to raise serious concerns about these trends and propose ideas for improving economic conditions for all Americans- not just the fortunate few.

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