American companies that reincorporate abroad are not doing so to avoid paying taxes on U.S. earnings, despite the often misleading impressions left by the rantings of Senators Carl Levin, Dick Durbin, Elizabeth Warren, and others to the contrary. They are doing it to avoid paying U.S. taxes on earnings in other countries.
Tagged: Elizabeth Warren
Want to know why capitalism will always triumph over collectivism? It responds to people’s desires, even those who would consider themselves enemies of capitalism. A case-in-point is the ubiquitous Che Guevara t-shirt. Anyone who has spent any time walking down a city street will have come across at least one young person wearing Che’s famous likeness. Some leftists have argued that the sheer pervasiveness and popularity of the image is proof of the enduring principles of which Che has sometimes been seen as a symbol. Yet that is not the case.