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      Yesterday, 12:45 PM   #1
TXSTYLE
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Thumbs up Mark Cuban: "If You Take Your Co. Off Shore to Dodge Taxes, I'm Dumping Your Shit!"

That's my dude right there!



Quote:
Companies are merging with foreign competitors to get tax breaks. Here's what the notorious Mavs owner thinks of that.

Hey, If Companies Can Change Their Citizenship To Get a Tax Break, Why Can’t I?


Dallas Mavericks owner and investor Mark Cuban has taken to Twitter this morning with some big thoughts about the U.S. companies changing to foreign addresses to get tax breaks.

Such corporate relocations, known as inversions, (http://time.com/money/3004744/abbvie...tax-inversion/) have become a hot-button issue in recent days after several major corporations pulled the tax maneuver and President Obama began calling for Congress to block this virtual corporate exodus.

Cuban starts with what sounds like your basic economic patriotism argument:
If I own stock in your company and you move offshore for tax reasons I'm selling your stock. There are enough investment choices here
— Mark Cuban (mcuban) July 25, 2014



And then things get more interesting:

If you talk to me as a shareholder and ask me to accept a higher PE so you can save jobs I'm open to it. The risk doesn't leave the system
— Mark Cuban (mcuban) Jul


By PE, Cuban means price-earnings ratio, the standard way investors value a stock. He means that if companies take the tax break, investors ultimately benefit because it raises earnings. (We recently discussed who really benefits here. Short answer: That’s true mostly for wealthy investors like Cuban.) And he says he’s wiling to live with lower earnings. But what does “risk doesn’t leave the system” mean?
This:

Look at your portfolio holistically.A corp move may push up the stock. it may push up your taxes Taxes r forever. #costdontleavethesystem
— Mark Cuban (mcuban) July 25, 2014

Of course, he adds, if you sell to punish a company for cutting its taxes, make sure it doesn’t mean you pay a bunch of taxes.
and

http://www.huffingtonpost.com/2014/0...n_5621036.html

Quote:
Corporate greed is getting out of hand, and Mark Cuban isn't going to take it anymore.

The billionaire investor and owner of the NBA's Dallas Mavericks took to Twitter Friday morning to shame companies for moving offshore to buck taxes.

The Mavericks owner is known for his loud and sometimes distasteful comments. His latest comments are pretty docile in comparison. His message: If I don't like the way you do business, I'm going to take my business elsewhere.

Cuban's rant came the day after President Obama voiced his own opposition to a tax-avoidance scheme called an inversion, in which a U.S. company establishes or merges with a foreign company and moves its headquarters overseas to avoid paying U.S. taxes. The Obama administration has put pressure on Congress to close this loophole, which according to CNBC could cost the government up to $20 billion in the next 10 years.

Aside from physically moving their headquarters offshore, many major companies also simply stash overseas profits offshore to avoid paying tax on that income. General Electric leads all other U.S. companies in that regard with $110 billion overseas.

Unfortunately, if you put your money into something like a 401(k), its pretty hard to stop investing in companies that avoid paying taxes, either by inversion or by keeping money outside of the country. The odds are high that at least some of your mutual funds invest in GE, Apple, Microsoft and others that top the list of companies with the most money offshore. You also probably don't have the deep pockets and investment managers that Cuban has to help him.
I could NOT agree more with Mr. Cuban. Foking vampiric Corporations always looking for a way to squeeze a profit and investment from client/customers and yet they methodically dodge paying TAXES like we all must do in this our great nation?
Fuk Them!
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Last edited by TXSTYLE; Yesterday at 03:04 PM.
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      Yesterday, 03:01 PM   #2
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