Corralling Corporate Traitors
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If corporate America won't act right, and if our government fails to make the greedheads act right, it's up to We the People to take the situation into our own hands.
That's exactly what Calpers has done. Calpers is the trust that manages the retirement funds for California's public employees, and with $136 billion invested in stocks and other assets, Calpers has some serious swat.
Like most of us, Calpers was disgusted to learn that several U.S. corporations have chosen to become traitors to our country. The sharpies who run these corporations found loopholes in our laws that allow them to dodge paying the taxes they rightfully owe. The tax gimmick they're using is a shell game that let's them reject corporate citizenship in America and re-incorporate in a tax-free haven like Barbados.
Of couse, the top executives don't actually move their headquarters offshore, since they want to live here and enjoy the privileges of being American. All they do is open a mailbox in, say, Barbados, hold an annual meeting there, and -- voila! -- escape paying their taxes.
Before the last elections, lawmakers of both parties were on their hind legs assailing these traitors, promising action! Where'd those guys go? Away. They never really wanted to offend their corporate contributors, and now that the elections are over, they've deep-sixed any action to stop this un-American tax scam.
But here comes Calpers! Next spring it will confront three of these infamous deserters -- Tyco, Ingersoll-Rand, and McDermott International -- at their shareholder's meetings, demanding that the corporations repatriate to the U.S. After all, it's the support and even the tax subsidies of the red, white, and blue that help these corporations prosper, so why shouldn't they be made to return right to America and do their fair part to keep our country strong?
To know how you can help bring these deserters home call Calpers at 916-326-3991.