WATCH: Jon Stewart Spanks Parasitic, Tax-dodging Corporations
Jon Stewart needed a break from commenting on Israel last night, so he addressed another deplorable situation: The latest corporate tax dodging scheme called inversion. Big companies simply buy a subsidiary overseas, reincorporate in another country, while still doing most of their business in America. Then they get to pay the lower overseas tax rate. "It's a win-win for everyone!" Stewart says facetiously.
Wait a minute, no, just a win for the corporation. American taxpayers get totally ripped off.
Obama wants to crack down on this blatantly unfair practice, and like every other reasonable thing the president wants to do, of course, the Republicans will support it.
Ha! Good one. Stewart runs a clip of Republicans celebrating corporations' right to rip us off. "They're like economic refugees," is one of these absurdities.
Stewart wonders then why we don't treat them like other refugees and send them home. "Oh wait, that would be here," he says.
Why are we constantly giving in to every whim of corporations? And why are they constantly throwing tantrums? Stewart has a theory.