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.
America! For more than two hundred years the word has represented hope, opportunity, a second chance, and freedom. In America the accident of a man’s birth did not serve as an inescapable weight that dictated a person’s fate or that of his family. The individual owned his own life and was free to shape it as his own mind guided him.
America is supposed to be the land of the free, yet it is has one of the most vicious tax regimes in the rich world. Once blessed with comparatively low tax rates and levels of regulation, businesses and entrepreneurs flocked to the United States from the sclerotic systems of Europe (and elsewhere). Now American businesses are fleeing America’s shores and foreign-born entrepreneurs are less inclined to come at all.
Reverence and veneration of our national flag has long been profound in the United States, far more so than in other countries. Veneration of the Stars and Stripes has evolved beyond mere respect for it as a symbol of national identity, but as an almost religious emblem of American values and the American way of life.
Ben Domenech wrote eloquently in 2011 in a piece that moved me. He’s a young guy, but he gets it. He wrote about the Reagan revolution: where it is today and[...]