To: President Donald Trump
Join President Obama in Calling Out Corporate Tax Dodgers
President Obama is right: When an American business establishes a mailing address in another country to avoid paying its fair share of taxes here at home, it is not good for our country. Mr. President, please take steps to stop the corporate ploy known as “inversion.”
Why is this important?
Some American corporations are essentially renouncing their citizenship so they can weasel out of paying taxes, even as they benefit from innumerable advantages of doing business, and making record profits, here.
This corporate ploy is called “inversion.”
A better word might be “evasion.”
Inversion is when an American corporation seeks out and merges with a (usually smaller) foreign business, then uses the country where that business is located for tax purposes, thereby avoiding U.S. corporate taxes.
President Obama recently spoke out against the practice of Big Business setting up sham headquarters in other countries to dodge their tax obligations here in America:
“There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that’s going to be good for the country over the long term. … You’re just gaming the system.”
Sign the petition today to show President Obama that you support bold action to end the inversion evasion!