You may recall that The Alliance for Competitive Taxation, a coalition of mega-corporations, bravely stood up to push the BAT on Congress. These hyper-profitable objects of sympathy are all members of the Fortune 500 and stand to reap massive tax savings at everyone else's expense, notably Small Business Importers. That is, if we let them.
Among the ACT worthies is Oracle Corporation. This high margin multi-billion dollar software company gets a lot of revenue from overseas markets, and would save scandalous amounts of Federal tax if the BAT ever becomes law.
I think the idea is that we should all chip in so Oracle can live here for free. They deserve it! Oh, how they have suffered.
So when CNBC asked Mark Hurd, CEO of Oracle, about inflation raining down on U.S. consumers as a result of his precious Border Adjustment Tax, well, watch for yourself.
Wow, I think that does say it all!ReplyDelete