Dick Durbin: “when a company moves its corporate headquarters overseas, but only on paper so it can avoid paying its fair share of…”

“when a company moves its corporate headquarters overseas, but only on paper so it can avoid paying its fair share of U.S. taxes, these companies , are called corporate inverters. But let's call them what they really are: corporate deserters. These companies profit using roads and bridges built with American tax dollars to deliver goods to U.S. customers. They benefit from access to America's educated workforce . . . American investments in basic research . . . and American patent protections. And some have even made millions, if not billions, of dollars from taxpayer-funded government contracts and programs like Medicare. But when it comes time to pay their fair share of U.S. taxes--the very taxes that pay America's roads and bridges . . . our colleges and universities . . . basic research . . . patent protections . . . Medicare . . . and other competitive advantages--these companies do everything they can to dodge U.S. taxes. And they have gotten very good at shirking their fair share. Let me tell you how this corporate ``Three Card Monte'' works. First, a company in the U.S. purchases a company in Switzerland, Ireland or another country with a lower corporate tax rate. The U.S. company then files papers saying it is relocating overseas. In many cases, almost nothing changes.…”