President Barack Obama attacked companies that use cross-bordermergers to escape U.S. taxes, accusing them of being “corporatedeserters who renounce their citizenship to shield profits.”
In remarks at a technical college in Los Angeles yesterday, thepresident called for a new “economic patriotism” from companies. Healso decried those that use corporate inversions to benefiteconomically by being in the U.S. while adding to the tax burden ofmiddle-income families.
“You shouldn't get to call yourself an American company onlywhen you want a handout from American taxpayers,” he told anaudience gathered between palm trees on the campus green.
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