Opinion

Why is US driving away good companies?

A Daily Mail editorial from the Charleston Gazette-Mail 

CHARLESTON, W.Va. — It happens all too often in America. A major corporation, a stalwart of its headquarter’s community, announces it is moving its corporate offices overseas.

“Unpatriotic!” shout the critics. “Immoral,” say those quick to judge.

Democratic presidential candidate Hillary Clinton called “outrageous” the recent announcement that Milwaulkee-based Johnson Controls will purchase Tyco and move its corporate headquarters to Cork, Ireland.

“Deserters,” said candidate Bernie Sanders.

These critics are using the right words, but directing them toward the wrong targets.

 It’s unpatriotic of the U.S. government, where senators Clinton and Sanders helped write the tax code, to force good corporate employers out of the country in order to compete in today’s global economy.

It’s outrageous the U.S. corporate tax rate is 35 percent compared to Ireland’s 12.5 percent. The Wall Street Journal reports that Johnson Controls will save roughly $150 million in taxes per year…

Comments are closed.

Subscribe to Our Newsletter