I am not the typical guy to pound a political opinion and this one will be no different. I believe this view is valid no matter if you stand with the Republicans, Democrats or another party in your political ideology.
If you read this and you are in Minnesota, you definitely know about Medtronics and what they are doing. First things first, shame on them. I get the global competition thing. I get that tax is too high thing. I get that it is “good business” and best in the views of the shareholders…
What the hell happened to running your business with shareholders, stakeholders, communities, and the country of your origin all in mind? I get that Minnesota is a high taxed state and that many companies are looking at many different means to run there business but at least most of them stay within the country.
Two thoughts come to my mind –
1 – If you are elected in November’s election; work for your country in Washington DC and if you are reading this… Hello?! How can we fall so far behind the world that people even consider this? I want to hear about a sensible reform that makes sense for all involved.
2 – Have to love Mark Cuban. Besides being a loud owner of the Dallas Mavericks, he is very open about his views. He challenges shareholders to sell these stocks and move on to people that want to stay within the country. He says that it is the rest of us that pay the tax shortfall they are all creating by doing this and it will make it harder to make the move. See: http://blogs.wsj.com/moneybeat/2014/07/25/mark-cuban-on-tax-inversions-if-you-move-overseas-im-selling-your-stock/
Until we find solutions that don’t tempt the wicked, use common sense. This will help us all out. Tell your investment professional, you don’t want to own these stocks.
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