I heard this phrase on the news yesterday. "Our

[Cleita]

international American companies". Uhm, if they are international, are they really American? Are they incorporated in the Cayman Islands or in the USA? Does incorporation in foreign countries still make them American if their CEOs are American? I think not. We really need to realize that the major industries that are running this country and have our elected officials in the palm of their hands, are not in fact American, but being run from and by other nations in this world. It's time to kick out the Brits, Arabs, Chinese and other entities who have their fingers in our resources.

How about this company?

http://www.exxonmobil.com/Corporate/about.aspx

I can't seem to find out where they are incorporated but I doubt if it's here.

Of course we know that Halliburton, which does much of the contracting for our military is incorporated in the Cayman Islands along with other countries that their subsidiaries are incorporated in.

http://www.halliburtonwatch.org/about_hal/taxhaven.html

There are so many other countries who are at our government tit, claim to be American and don't pay taxes here but they aren't really incorporated here as an American company. It would be too long to list them.

The purpose of this post is to ask, how do we get laws changed that state, that in order to do business here they must be incorporated here and if they are unwilling to do so that they must pay higher taxes on the income they earn here than American incorporated companies. Any suggestions?

I think we would have to do it on a state by state basis myself, but I do think that the better populated and blue states can start the ball rolling. Make EXXONMobil incorporate in each state they operate in or get out for a start.

[w8liftinglady]

1. you started by mentioning it here. Now,mention it to your neighbors-make them aware.

I appreciate your post.It has good info.
We must continue to educate.The media has chosen not to.
K and R

[freshwest]

10. Absolutely. And we need to re-define 'national interest.'

It's usually one of these international firms who could care less about the USA. But they scam Americans or at least the legislature into wrapping their business in an American flag with blood streaming out from under it.

We also have to get honest about what percentage of the American economy benefits from this definition of 'American' interests. And find a way to discuss this with those who are thus employed.

Thomas Jefferson made numerous warnings I could quote but I'm sure you're familiar with them.

Also Lincoln, Roosevelt and even Eisenhower warned us. Not to mention JFK, RFK and MLK.

We know, but we don't have a voice in the media so we have to push this here.

[leveymg]

2. All the major banks - the ones we gave trillions to - have simply used those funds to move offshore.

Let's give them more, and see what happens.

[Cleita]

7. This is scandalous and we shouldn't let them get

a pass on it. If we had a responsible media, all this would be exposed on the front pages of newspapers and magazines in bold letters.

[leveymg]

14. The proles are catching on. There are choices to be made, but the right ones won't be.

I expect we'll see some sort of strongman to arise on the Right who spouts populist thunder, but who actually serves the global Powers That Be.

Obama was a milder version of such a pseudo-populist figure, as was Dubya before him (playing to a different constituency). An American Putin will be next, but less nationalistic - I don't expect the American version will throw any billionaires in jail.

[Cleita]

18. Frankly, I don't care if they go to jail. I just want to

see them pay for the privilege of living here and doing business in this nation.

[leveymg]

25. WE pay for the privilege of having THEM here. That's the way it works, now.

They own us - or, more accurately, have paid to take over the government, so they're pretty much free to make the rules.

That's what the Citizens United decision says. Who are we to question such authority, lest we too be deemed "enemy combatants"?

[Warren Stupidity]

3. If they outsource profits to avoid taxation aren't they basically gangsters?

[Cleita]

5. Yes, in any other universe they would be.n/t

[TheDebbieDee]

4. I've worried the last several years about the endangerment of

our national security because our military/government may depend on the supplies/items provided by multi-national corps. Corporations that may turn out to strong ties to citizens of nations with which we may at war!

[Cleita]

6. Your worry is very valid.

I'm old enough to remember WWII and a couple of wars after that, and it was considered best for our national security that the military be outfitted by American companies. This partly was responsible for our economic boom that helped pull us out of the depression. What happened?

[Statistical]

8. Exxon is incorporated in the United States, so is Haliburton.

http://www.exxonmobil.com/corporate/investor_governance_incorporation.aspx
http://www.getfilings.com/comp/k0000045012.html

However I would argue that doesn't really matter. "American" corporations have no loyalty to Americans. Is a Chevy built in Mexico somehow superior to a Toyota built in Tennessee because it is from an "American" company.

People need to get away from this black and white "American vs foreigner" thinking. The corporations did a long time ago.

Technically most large corporations which trade on NYSE are "American" but in reality they all are multi-nationals. They have loyalty only to shareholders. Even those shareholders are becoming increasingly international.

[Cleita]

11. If you look at my Halliburton link, you will see

that most of Halliburton's subsidiaries are not incorporated in the USA. Thanks for the EXXON link.

[Statistical]

13. Exactly. That is the concept of a mult-national.

Haliburton IS incorporated in the US. It files it corporate documents every month in Deleware courthouse. It is an "American" company as it gets. The point is that distinction is meaningless. Now it has wholly owned subsidiaries but so do virtually every company in the S&P500.

The idea of an "American company" is bankrupt. Corporations exist for the sole purpose of generating the maximum wealth for shareholders. Period. They don't subscribe to any national identity.

[Cleita]

16. "They don't subscribe to any national identity." Ah c'mon. You know this is wrong.

Not paying any taxes on money earned from us with bookkeeping tricks is un-American and is breaking the back of this country. This is exactly what I'm talking about.

[Statistical]

19. Why WOULD they pay one cent more than they have to.

You are aware a CEO has a fiduciary responsibility to shareholders. Not to workers, not to Americans, not to the environment. To shareholders period. A CEO who put anyone ahead of shareholders "doing the right thing" can be personally sued for violating fiduciary responsibility.

"American" vs "foreign" corporations is a meaningless distinction.

[Cleita]

22. Because they need to be made to have to by law.

We need our industries and resources protected from this kind of exploitation by multi-national corporations and Wall Street. If they want to call themselves by name as oligarchies, then they should. Stop calling themselves American, because they are not and they should not be allowed the privilege of doing business here until they are willing to pay for that privilege.

[Cleita]

15. Also you might want to read this about EXXONMobile

paying no taxes because of their subsidiaries being domiciled in the Bahamas, Cayman Islands and elsewhere providing them with tax shelters. http://climateprogress.org/2010/04/06/exxon-mobil-paid-no-federal-income-tax-in-2009/

[Statistical]

17. I think you are missing the point.

Google has foreign wholly owned subsidiaries for the purpose of reducing income taxes.

Every company in the S&P 500 is an "American" company. I am just saying that is meaningless distinction.

Would it be any better to be raped by an "American" rapist than a foreign one?
Would it be any better to be mauled by an "American" bear than a Canadian one?
Would it be any better to die by an "American" bullet than a Russian one?

Corporations exist solely to maximize profits for shareholders. They have no alligience to anyone but shareholders. If they legally could sell your children into slavery to maximize profits they would. "American" corporations are no better or worse than any other corporations.

[Cleita]

20. I do get the point and when it get's to the point

that they are breaking the economic back of this country then we have to push back. Read about how the Chinese protect their economy from us. They aren't letting McDs. Wal-Mart and other so-called American companies rob them blind because profit is all. They are protecting their domestic industries.

[snot]

9. It really doesn't matter where they're incorporated; what matters is,

where does the money go? Including:

Where do most of their gross revenues come from -- do they sell most of their products here?
Where are most of their expenses incurred, other than employee compensation -- do they buy most of their raw materials and parts here?
Where are most of their wages and other compensation paid -- to employees here?
Where, if anywhere, do they pay their fair share of income and other taxes -- here?
Where does most of their net income go -- to shareholders living here?

In this age, we need to re-think what is, or should be, managed locally vs. globally, including things like how to define the residency of entities. How much does it matter where they're incorporated, if most of their money's sucked from or ending up elsewhere? Other factors may matter, too. And are some entities essentially "stateless"? Etc.

[Cleita]

12. I agree with everything you say.

We need to manage as much as we can nationally before we do it globally and that is not happening today.

[Ichingcarpenter]

21. YOU DON'T MENTION taxes enough

other than that..... good points

[WCGreen]

23. the correct terminology would be companies incorporated in

the United States...

They are not "ours" unless you happen to be a shareholder.

Business concerns are concerned with making a profit and will exploit any country or other governmental unit to meet that goal.

They have no allegiance to our country what so ever, from what I can tell...

[Cleita]

24. I know. This is why they have to be kept honest

with strong laws making them give back as much as they take.

[GeorgeGist]

26. New Jersey

The address of the corporation's registered office is 830 Bear Tavern Road, West Trenton, New Jersey 08628

I kid you not.

http://www.exxonmobil.com/corporate/investor_governance_incorporation.aspx

[Cleita]

27. It's probably just a mail drop not where their

corporate headquarters are. It seems that would be somewhere in Houston, Texas for their American subs.

[EFerrari]

28. Good catch, Cleita. n/t

[customerserviceguy]

29. Depends on which part of Exxon Mobil you're talking about

I found this:

http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=6445302-596250-619444&SessionID=09R1HCJwqZFYHR7

and while some parts are indeed overseas, many parts are incorporated in Delaware, as are many large corporations.

And as I recall from my study of corporate law in paralegal school, every corporation doing significant business in a state has to have a registered agent for service of process.

[Cleita]

30. Well, guess what, they didn't pay any taxes last year

because of these tax shelters with overseas incorporating that they do. Also, I don't see that their corporate headquarters, or at headquarters for their subsidiaries are anywhere near Delaware or New Jersey but in Texas, namely Houston.