American corporations using tax inversion lack patriotism: Letter
Letter-writer Hank Brennan correctly states that tax inversion is a tax avoidance, rather than evasion (“Inversion not a crime,” Reader Forum, Aug. 11). However, like boards of directors off-shoring American corporations as they earlier off-shored American jobs, he is looking at only one stakeholder: stockholders. There are three other stakeholders — employees, customers and the American community — who have been ignored.
A look at the erosion of jobs, salaries, pensions and medical benefits makes it clear that many companies no longer consider employees as stakeholders. Now, America as a stakeholder also is at risk. Imagine how history might have been different if, in earlier wars, companies doing business in America used tax inversion to become Bahaman or Irish companies.
Executives who use an inversion strategy might wear flag pins on their lapels, but there isn’t a patriot among them. For the taxes it levies on business, the United States offers companies stable government, dependable infrastructure and military protection. If the interests of former American companies are threatened abroad, will the Bahaman or Irish armies rush to their defense?
