Received this e-mail today from Senator Al Franken (D. MN):
Bermuda. Ireland. The Cayman Islands. All lovely vacation spots, I’ve heard. Also desirable destinations for American corporations looking to avoid paying taxes.
A growing number of U.S. corporations are taking advantage of tax loopholes to cheat the system. A major one is what's called “inversion” -- and it’s a process in which corporations based in the United States reincorporate overseas in order to avoid paying U.S. taxes.
Corporations that have formed and thrived here in the United States should not be allowed to move offshore simply to avoid their tax bill. If you agree, demand that Congress take action to close the tax loophole that allows inversions to happen. Add your name to mine.
http://www.alfranken.com/...
Inversions often mean that corporations can shelter profits abroad, costing Americans jobs and taxpayers billions of dollars.
I’m doing all I can to close this loophole and ensure that corporations pay their fair share. I hope you’ll join me in urging Congress to act.
http://www.alfranken.com/...
Thanks.
Al
Click here to add your name:
http://www.alfranken.com/...