Last week, CNBC.com posted my editorial regarding U.S. Treasury Secretary Jack Lew’s call for “economic patriotism.” Mr. Lew recently stated that “[w]e should not be providing support for corporations that seek to shift their profits overseas to avoid paying their fair share of taxes.” He is implying that U.S. companies are engaging in wrongful and disloyal conduct, in reality, they’re simply reacting to our outdated tax system by attempting to put themselves on the same footing as their foreign competitors. As with many Obama administration economic policies, the Secretary’s statements sound so reasonable but ignore so much.
To read the complete editorial posted today on CNBC.com, click here