7 August 2014: The Blaze Glenn Beck today warned Americans to be extremely cautious of new legislation which would prevent American companies from moving their outside of the United
States. He describes the proposed creation of a '“virtual Berlin Wall” in an effort to thwart corporate inversions (i.e. when companies that conduct at least 20% of their business
overseas incorporate in another country to avoid the U.S. tax burden.' He warned against 'corporate “loyalty oaths,”' a concept advocated by Jonathan Alter at the Daily Beast.
Alter's Monday article states that, 'because
“unpatriotic” companies like Walgreens are relocating outside of the United States in record numbers to avoid
high taxes, it's time to think “creatively” of a way to force them to remain.' He proposes legislation to 'force
companies to sign “non-desertion agreements.”'
“[President Obama] should issue an executive
order that says any company that wants to keep its federal contracts must sign a new-fangled NDA…” Alter wrote.
“But other companies with few or no federal contracts might be tempted to desert anyway. That’s where the rest
of us come in.”
“Under my scheme,” Alter continued,
“companies that sign non-desertion agreements would embed a tiny American flag or some other Good Housekeeping-type
seal in their corporate insignia for all to see, just as companies during the Great Depression that agreed to Franklin Roosevelt’s
recovery plan hung an emblem of a blue eagle in their windows…”
