President Obama and his Democratic allies “hoped to capitalize on the recent wave of companies ditching the U.S. to slice their tax bill as a populist issue to fire up the progressive base and bash Republicans as slaves to corporate interests. So far, rather than becoming the political whopper that Democrats dreamed of, the issue has turned out to be pretty much a massive dud,” Politico reports.
“At the same time, Republicans seem increasingly comfortable arguing that companies looking to “invert” by moving their official address out of the U.S. highlights the disaster of the American Tax Code and the need for a complete overhaul, not another one-off fix sure to be shredded by corporate accounting wizards.”
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