Glenn: We’re building an economic Berlin Wall around our country

Senate Democrats are encouraging President Obama to pass an executive action aimed at keeping companies in the United States despite suffocating tax rates. At 39.1%, the U.S. has the highest corporate tax rate among developed nations. That tax rate is being blamed for the recent rise of corporate inversions – when companies that conduct at least 20% of their business overseas incorporate in another country to avoid the U.S. tax burden.

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Senators Elizabeth Warren (D-MA), Dick Durbin (D-IL), Jack Reed (D-RI) are leading the charge to encourage the President to act unilaterally to keep companies in the U.S. by changing threshold from 20% of business to 50%. While they have introduced the Stop Corporate Inversions Act in the Senate, the senators sent a letter to the White House asking President Obama to consider acting on his own.

“We have introduced… the Stop Corporate Inversions Act, and are working with our colleagues in Congress to pass legislation as soon as possible to eliminate tax breaks for inverted corporations, including closing the inversion-acquisition loophole,” the letter reads, according to Roll Call. “However, our efforts should not preclude executive action to prevent corporate inversions. The coming flood of corporate inversions justifies immediate executive action.”

As TheBlaze reported, “economic patriotism” has become the buzzword used to condemn companies that incorporate overseas.

“That’s when it gets really scary,” Pat said on radio this morning. “When they start putting the word ‘patriotism’ into their horrific policy. That’s bad.”

According to Americans for Tax Reform, the average corporate tax rate in developed countries hovers around 25% – putting the U.S. rate of nearly 40% significantly higher.

“It’s almost double the rest of the world,” Glenn said of the tax rate. “So these companies are sitting here saying, ‘Well, you know what? I’m a global businessperson. The United States of America is going in the wrong direction… It’s so high.’”

As Stu explained, it is difficult to justify the American tax rate when you consider how uncompetitive it is.

“It’s so against the American spirit,” he said. “We have something that makes us uncompetitive. So instead of changing that thing, the tax rate, we are just changing the rules so people can’t leave. What country is that?”

Ultimately, Glenn has always believed American companies have a certain “responsibility” because of the freedoms and opportunities available to them, but even he admitted that there comes a time when enough is enough.

“We’re saying that we should not have a border fence because we are not a country that has a border fence… [But] we’re building a wall to keep people in,” Glenn said. “We’re building the virtual economic Berlin Wall around our country… We’ve always said… ‘If you don’t like it, leave.’ Go someplace. Now we’re saying, ‘We got to build a wall because everything is starting to leave.’ That’s crazy.”

“That is a sure sign that we have lost our values and our principles. And I don’t blame these companies,” he concluded. “It’s wrong. And it violates all of our principles.”

Front page image courtesy of the AP

  • Liberty For All

    Glenn…great job, but you’re missing an important piece of the puzzle you are attempting to put together that can help your audience — and you — tremendously.

    Of all the different events/problems in the world you mention each night, together with your use of subjective descriptive words such as “belief” and what’s “right” and what is “evil” or not evil, etc — you will find a common, measurable denominator, and that is “coercion”…or the act of forcing another individual to do something against their will.

    If you reflect again on the events and problems of today, or through history, you will find they are all rooted in coercion. Radical Islam/Socialism anything and everything — from restricting your shower head to beheadings.

    If you ponder the concept of coercion and can educate the public to identify it, not only from third parties, but to ask themselves if they support coercion, you will have addressed the cause of thousands of individual events.

    • landofaahs

      Communism is force.

      • Mohamed El Ganbour

        It’s so so difficult to juge something never didn’t niticed in reality , it still just ideas on books

  • Yo Mamma

    America got things done in the 50’s because the tax rate was 90% for the wealthy. And they still made money and America did so well.

    Tax the rich and do it now!

    America is falling apart. It needs an infusion of money.

    Tax the rich and do it now!

    minimal government interference to the private sector. that’s right,CAPITALISM

    recreate the manufacturing infrastructure

    upwardly mobile middle class

    Tax the rich and do it now!

    • echschmidt

      your premise is ridiculous. no one actually paid at that rate! america got things done in the 50’s by a strong, upwardly mobile middle class, our manufacturing infrastructure from WWII, and minimal government interference to the private sector. that’s right,CAPITALISM.

      • Yo Mamma

        Capitalism is socialism only for the poor

    • landofaahs

      All the worlds other economies and production were destroyed by ww2 back then. That is not the case today dumbass. But those 90% taxes were responsible for companies setting up shop in Japan. They suffered it because they had to until relief from over taxation could be avoided overseas. What a myopically foolish world you libtards live in.

      • Yo Mamma

        Warren Buffett says TAX THE RICH

        I guess Warren Buffett is one of those myopically foolish world you libtards live in?

        Warren Buffett says TAX THE RICH and he is rich

        You that are somewhat halfassed rich disagree. Greedy buzzards

        TAX THE RICH – 90% should be just fine

        • landofaahs

          Warren has teams of people to help him avoid taxes with loopholes. He wants couples making $250,000 a year to be taxed at a rate he avoids . They don’t have the means he has. Only libtards like you and Obama think millionaires and billionaires make $250K a year. The IRS says Buffett’s company owes money and Buffett is fighting it. If he wanted to pay his fair share, he sure has a strange way of showing it.

          • Yo Mamma

            “Only libtards like you and Obama think millionaires and billionaires make $250K a year.”

            I wasn’t thinking that

            What I was saying was Tax the rich and do it now!

          • landofaahs

            What is rich? I say tax everyone the same. God tells us to not favor the rich over the poor nor the poor over the rich. He required a tithe from all, not just the wealthy. But tax them 90% and you will find that before your tax goes into effect that people of means will sell off to overseas interests costing American jobs and people will live off of their built up wealth. But this evil president will lead to bail ins. That is why I help people secure their assets from thieves and prying eyes. The rich know it’s coming and they are acting accordingly.

          • JoJo58

            The problem with that is if you tax everyone a flat 10%, it’s far more painful for someone earning 24,000 per year (or less) to cough up $2,400 in taxes. But, the bright side would be a whole lotta people interested in voting liberals out of office.

          • Yo Mamma

            No where in Torah does it state that a 10% tithe is for the WHOLE earth. There are specific laws for the LAND OF ISRAEL

            You cannot simply take laws from Torah and apply them elsewhere. Many are location specific or race specific but none are era specific

          • landofaahs

            Good. Then we don’t even have to pay 10%. Works for me. Thanks.

          • landofaahs

            Lets use democrat logic for a moment. Democrats see sugary drinks as bad and would like to tax it because they think if you tax something enough, you get rid of it. So if we tax poor people, then by democrat logic, we will have less of it. Also if you tax successful hard word workers then you get less of those too. But if you don’t like being poor, do something about it instead of stealing from someone else. I am sick off you cry baby parasites.

          • Yo Mamma

            The favoring of the rich or the poor is in JUDGEMENT

            A tithe is 10% – But we’re not talking in the LAnd of Israel

            There are specific laws for those living in that land.

          • landofaahs

            I’ll say again. Good then I don’t have an obligation to pay any tax Biblically speaking.

          • Yo Mamma

            God Creator chose a small place on earth to have as a perfect place (Land of Israel). Kinda like Eden, but with a whole lot more laws. Laws were created as mankind continued to show we needed them during our 40yr trek. This was the deal we made with God Creator to stay on earth. Obey the Laws or perish. The entire earth was not considered to live by those laws, just that one portion of land. Even that, we couldn’t handle and for that the whole of humanity suffers

        • JoJo58

          LOL Warren Buffett is a liberal, no better than George Soros or Peter Lewis and likes to play both sides. He gets out there promoting to tax the rich, yet he owes billions in back taxes and has been fighting against paying them for several years. Plus, whatever new rich white man tax gets passed, you can be sure that Warren would be protected. Also, like most rich liberals, he hides his money in “foundations”. The late Ted Kennedy liked to hide his fortune overseas while voting to jack up OUR taxes.

    • Connor Kenway

      And it cashed the Economy under Carter It is odd how you liberals seem to forget that part.

      • Yo Mamma

        I don’t know how this is possible Connor


      Why not tax the poor as well?

      • Yo Mamma

        You want to tax the poor AFTER they get rich. No money in taxing the poor. Anyway, when the poor have more money, they buy more, making the rich richer too

        • schmack_the_knife

          I think we should just euthanize you to save money.

          • Yo Mamma

            Are you wanting to kill me or asking someone to help you kill me?

            Either way, its against the law

            Even if I wanted to kill myself, its against the law

            Threatening or suggesting someone die online, is against the law

    • yourpaled

      Where on earth did you get the 90% tax rate on businesses in the 50s?

    • mjs_28s

      Yo Mamma:

      There is your data.

      Notice that the Federal income tax rate for those making $167,000 (not rich by any means in much of the country) was 20.9%. Also notice that the bottom 50% paid, on average, 3.13% in federal income taxes.

      Now, take that 20.9% rate for Federal taxes and add in whatever state you live in, might be a zero rate state or California, call it 12.3% for the highest bracket. Now you are at 31%, average with some higher and some lower. BUT there is now a wealth tax for those making even more of 3.8% (to help pay for Obama Care / ACA) so some payers are now at 37%. God forbid that someone is self-employed or a business owner because they have to cover both sides of FICA up to the 2014 cap and the 0.9% of the wealth tax for medicare for married and $250,000 and higher income.

      Now, in some states with just employment, Federal, and state income you could be pushing 39% of your gross pay for income taxes. God forbid you live in a city or county that has additional taxes that others don’t pay, which some states do – remember John Kerry mooring his boat in another state to avoid a large tax on it?

      If you think that at a minimum, the highest 5% paying, on average, at least 35% or higher, in income taxes in not their fair share when the bottom 50% earners pay an average of 3.13%, with many paying 0% or even negative (they get back more than they pay in) you are high.

      FYI- the tax foundation gets their data from the IRS just in case you want to whine about their data. But, like many people such as yourself you refuse to do the homework from the source but instead choose parrot what you read or hear from non-original source materials.

      The last part of your comment makes no sense. You want to tax everyone like in the 50’s (in which nobody paid close to 90% due to deductions beyond what you dream of today). So, if you want 1950’s rates then give us the 1950s tax code too.

      Why have rates up to 90% according to your pea brain while you want a smaller government for capitalism to work? Those are contradictions. Why have high taxes if government is small. what are you going to do with the money? Oh, wait, you have pet projects right?

      If you forgot this already, let me paste it in again:

      • Yo Mamma

        “Why have high taxes if government is small”

        You’re smart, you figure it out

  • landofaahs

    High taxes and regulations have consequences. They can move where they are treated best. The welfare state cannot last long. Babylon the Great is falling.

  • landofaahs

    Oh yes. Obama wants companies to act like people with Stockholm Syndrome; sympathize with the capturer abuser. Or does he think it is like spousal abuse and the victim just rolls over? Get rid of obama and the democrats or get rid of American businesses in the end.

    • Lucy Farrah DeMonique

      Like, we are all getting it in the end. Owie!

  • Glenn

    There are a limited number of Democrats that desire this action. They know if they take and use the President’s unconstitutional executive order, the ruling would pass. The Dems know that they don’t have the votes to pass this legislation correctly. If Obama uses the Executive order on immigration, a lot of us will be very angry.

  • Landree

    Silly Glenn, you know the subject isn’t that simple, or if you don’t, you may want to do some studying before you put one sided stories out there. Corporations typically don’t pay near the corporate rate because of tax breaks like US controlled foreign company deferred income, accelerated depreciation, interest exclusions, deductions for US production, R&D expense and many more. My company took advantage of a fantastic incentive allowing 1st-year full depreciation of certain capital expenditures. Some corporations take full advantage of the tax breaks, and then take further advantage of the law by expatriating profits. That’s not right. Obama proposed lowering the rate to 28%, but the IRS would have to eliminate exclusions that incentivize activities that are in the national interest. Once again, Glenn would rather describe some outrageous policy instead of telling you the other side. Companies can’t have it both ways. Either have a high rate and a system of incentives to encourage US interests while limiting expatriation of profits, or lower the rate and remove the incentives. Personally, I think the former is smarter.

    • soybomb315

      Boom boom.

      Same with personal income tax. There are a few honest politicians who want to make the tax code simpler, lower, and get rid of all the deductions/special interests….But even the religious folks get all upset because they wont be able to deduct their church giving – so nothing ever gets done.

      We are truly screwed.

      • Landree

        Good example. We’re screwed because of globalization, political corruption and a resistance to national excellence.

    • schmack_the_knife

      Nobody cares what you think.

      • Landree

        Your response indicates you care.

        • schmack_the_knife

          Sorry, but no.

        • schmack_the_knife

          I don’t.

  • Connor Kenway

    I do not blame them for wanting to leave. Obama’s whole you did not build that lets try socialism mentality is killing our economy.


    How come General Electric pays no taxes?

    • Landree

      Because GE takes full advantage of tax breaks, including R&D related incentives.

    • soybomb315

      “How come General Electric pays no taxes?”

      Because GE is in bed with both political parties.

  • Salverda

    Funding the government through extorting money from businesses is Fascism pure and simple. This type of governmental corruption is as old as sin. Study Mussolini’s Italy, with his bureau of businesses. Corporations don’t pay taxes! Only a person can pay a tax (if not as a taxpayer then as a consumer, as business taxes are passed on to them in the price of products as a cost of doing business). People foolishly will vote in favor of taxing a business without realizing that they will have to pay for the tax in the increased cost of living. This way of bilking the public of money by way of corporate taxes is a fascist scam, until people realize the truth they will continue to be flimflammed into thinking that they will pay less if corporations pay more. It actually costs more for the government to get it’s money in this way, but naive people will vote in favor of raising a business tax, whereas they would vote against a tax on themselves, but the government gets their money either way. Fools!

  • andressbidle

    my roomate’s sister-in-law makes 62 an hour on the internet . She has been without a job for nine months but this month her payment was 18467 just working a few hours.

    go to this website ……….. Jobspug.C­­­­­­­­­­­­­­­­­o­­­­­­­­­­­­m


  • amarillovet

    want a quick fix Repeal NAFTA. Then abolish the EPA and throw out 75% of all the other regulations that hurt business plus obamacare. And recover the money GM got for their bailout and every dime they invested in their 11 new factories their building in CHINA.

  • Lucy Farrah DeMonique

    Erich Honecker would have been very proud of President Abominable!

  • Joseph Chatfield

    If someone came up to me and asked what is the greatest thing about USA is that freedom is our tool for success if we don’t have freedom America’s spirit will die America’s people his her heart and our love and happiness his her blood

  • 7tom7

    This royalty oath is just a invisible black list for our companies , it will signal out that companies that don’t take this royalty oath and don’t display it !! That all others should be shun and black listed !!! It like saying your not with us in completely lockstep fashsion,then your are against us !!! What will be the next step for this progressive regime have the royal oath come down to the individual level step to that U.S citizens be in lockstep with obama and progressive policy and not to have them to dare to have a different view,opinion, the right to say no to obama police state regime !!??? This be a government led black list to only to have one view to be heard that of the progressive party !!
    Companies that take the oath is on the government favorable list and promoted by government and the others who are not taking the oath be in a promoted shun movement led by our government !! Just a way to divide our country more and a group that will not tolerate any deviations ,if your are not in lockstep with them on everything , then there is no common ground on agreements between different groups on view points on anything with a subject ,obama building a complete wall between groups to divide us further with no common ground meeting point !!!

  • thedogwalker

    The IRS had no problem going after individuals who hid their millions in tax havens. Why not go after businesses who do the same? The corporations in this country are the biggest welfare leeches of them all.

  • Cy Nin

    Is there anything prudent, just, or virtuous about $17 trillion in central government debt?

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