Over the years, dozens of American companies have filed papers to trade in their U.S. corporate citizenship for citizenship in tax haven countries like Bermuda.
Sentiment: NEGATIVE
Even if there's no way to stop U.S. corporations from shedding their U.S. identities and becoming foreign corporations, there's no reason they should retain the privileges of U.S. citizenship.
Citizenship consists in the service of the country.
Instead of worrying about who's American and who's not, here's a better idea: Create incentives for any global company to do what we'd like it to do in the United States.
Foreigners may be admitted to citizenship by naturalization, either collectively or individually. Collective naturalization may occur when a foreign territory and its inhabitants are transferred to the United States.
In a world of inhumanity, war and terrorism, American citizenship is a very precious possession.
People who have been hardworking, tax paying, those people ought to be given an opportunity to be on a track that leads towards citizenship, and if that happened, then they wouldn't be prey to the employers who say, 'We want you because we know that you work for a salary we could not lawfully pay anyone else.'
A better way to help American companies compete against competitors abroad is to remove all series and myriad of obstacles they face in America, whether it's union rules in some states or massive amounts of regulation imposed upon them, one of the most expensive combined corporate tax rates on the planet.
Increasingly, corporate nationality is whatever a corporation decides it is.
Commerce has changed the ethics of citizenship and the incentives for national service. America now buys private contractors - we used to call them mercenaries - to do the country's fighting.
A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.
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