Hillary Clinton Ad Scorned Companies Moving Overseas

Note: This post does not reflect the thoughts or political opinions of either myself, or Shleppers, and it aims to discuss moving overseas only. 

Moving Overseas

Appealing to voters in Michigan, Hillary Clinton attacks American companies that move their headquarters to foreign countries to reap enormous tax savings [read more].

 

THE CHART THAT SHOWS WHERE US COMPANIES ARE MOVING FOR TAX PURPOSES

Driver’s-eye footage shows abandoned warehouses as a guitar provides a bluesy backdrop for a gritty-voiced male narrator. “O.K., you know the deal,” he says. “Factory turns out the lights, ships the jobs overseas.

“Betcha didn’t know these companies, though,” he continues, as clips show buildings with the logos of Tyco, Weatherford International, Medtronic, McDermott International and C&J Energy Services, which variously changed their addresses to Ireland, Panama or Bermuda in maneuvers known as corporate inversions.

“Nice,” the narrator adds sneeringly. “Then — Schlock! — big tax breaks. C.E.O. gets a bonus; workers and Uncle Sam get squat.” A cartoon shows an executive flipping through a stack of cash and stuffing it into a bag, workers walk out of a factory and Uncle Sam points his finger at the camera.

Mrs. Clinton is then shown shaking hands in a produce warehouse, speaking in front of a tractor and high-fiving on the rope line. “Hillary says, you walk out on America, you pay an exit tax,” the narrator says. “And if you got tax dollars or a tax deal, you’ve got to give the money back.” At that, our cartoon executive sees a giant vacuum suck his cash right up out of the bag.

The Message  “She’s with us.”

McDermott International completed one of the first corporate inversions in 1982. Though the ad mentions Tyco’s 1997 inversion, it does not mention Tyco’s more recent union with Johnson Controls, which is benefiting from Tyco’s Irish address. As Mrs. Clinton’s critics have noted, the Tyco-Johnson Controls deal was negotiated in part by the firm of one of her campaign’s financial bundlers, and Johnson Controls has donated heavily to the Clinton Global Initiative.

None of the companies mentioned were based in Michigan, but the state has been hammered by job losses, and the commercial puts Mrs. Clinton squarely on the side of workers against greedy bosses — right where her Democratic rival, Senator Bernie Sanders, has long positioned himself.

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Source: The New York Times