Why so many American companies are abandoning America

Yet another major U.S. company — auto parts supplier Johnson Controls — is "renouncing its corporate citizenship"

There is more financial incentive to move corporate headquarters overseas.
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Yet another major U.S. company is "renouncing its corporate citizenship," said Andrew Ross Sorkin at The New York Times. Auto parts supplier Johnson Controls announced last month it is merging with Ireland-based Tyco International to take advantage of Dublin's lower corporate tax rate. The fact that Johnson Controls is joining a "tidal wave of corporate migrants" is all the more galling because the company has been on the receiving end of plenty of U.S. largesse, including at least $149 million in tax breaks between 1992 and 2009 from Michigan alone — and, indirectly, the $80 billion auto bailout. Given that history, it's tempting "to cue the national anthem and argue about the need for corporate patriotism," but shaming companies into staying isn't going to be effective. At least a dozen other so-called inversion deals are currently in the works. It's high time we figured out how to make it "more attractive for American companies to be American companies."

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