IBTimes -
25 Jul 2014 23:31
President Obama this week joined the political discussion that's been brewing for some time in Washington about 'inversions', the latest wonky word to emerge from the intersection of Washing and Wall Street. On Thursday, he criticized companies that relocate to Ireland for tax purposes, accusing them of being unpatriotic and abandoning their US citizenship obligations. In an interview with CNBC, Obama said that companies who abuse the system were taking advantage of "unpatriotic tax loopholes".
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