You would think that the growing tax inversion trend is the worst think that could happen to the United States Economy. In fact, the specter of America’s most iconic companies becoming foreign companies has even the White House up in arms. Post-Globalists should consider if knowing the allegiance of a few transnational corporations outweighs the cost of losing revenue from all of America’s big businesses.
The question is not a loss of revenue because many of these companies don’t pay taxes anyway. They have the best tax attorneys available and a tax system that is rigged in their favor. The question is should the American people know where they stand when it comes to these stateless actors masquerading as America’s biggest benefactors. And put to rest the notion of a corporatist versus populist divide.
The issue is those who support profiteering on the part of transnational corporations and those that support Post-Globalism. For new readers, Post-Globalism is a pro-growth strategy that capitalizes on the disruptive potential of small business owner/operators. It talks about the need for economic developers and lawmakers to recalibrate how they view the importance of lifestyle (i.e. small) businesses.
If current trends continue, the United States Economy will be dominated by small business owner/operators five to seven years from now. The upside is that employees will be valued much more than they are today. The downside is that most companies will have fewer employees. Unfortunately, there is nothing that will stop this trend not even reducing the number of transnational corporations that choose tax inversion.
A lot of very serious people know what economic evolution and creative destruction means in the abstract. However, they can’t seem to wrap their heads around what it looks like in practical terms like tax inversions. Good riddance to those firms that want to renounce their American citizenship. Time to embrace the “Great Recalibration” and let the traitors know that America will be better off without them.