What will be the next turncoat company to move offshore?

Since 1983, at least 76 U.S. corporations have bought a smaller company in another country with lower taxes and changed their address to that country. Though they continue to reap profit in the U.S. with U.S. roads, U.S. law enforcement protection and U.S. payments (like Medicare and Medicaid), they evade many U.S. taxes.

It's called inversion. It's unpatriotic, unfair and unconscionable.

Two lawmakers want to end this form of corporate tax avoidance. Democratic U.S. Reps. Sander Levin of Michigan and Chris van Hollen of Maryland filed a bill late last month that would stop corporation inversions. According to their press statement,

...the Stop Corporate Expatriation and Invest in America’s Infrastructure Act (H.R. 4985). This legislation will put an end to corporate expatriations and devote the resulting revenue to the Highway Trust Fund. It will raise $19.5 billion in revenue over ten years and keep the Trust Fund solvent as Congress works on a long-term funding solution.

In an op-ed, they argued,

Despite the fact that our nation has made significant investments to enable their success — investments like roads and bridges over which they move their products to consumers — more and more big corporations are using a legal maneuver to avoid their fair share of taxes. These corporations will combine with a smaller foreign firm and then claim that the combined corporation is no longer American for tax purposes. These corporate “inversions” cost American taxpayers billions of dollars and are unfair to the vast majority of businesses — large and small — that stay in America and pay their fair share. Unfortunately, Wall Street analysts expect this trend to continue and possibly accelerate.

Here is a list of corporate inversions since 1983, according to Democrats on the House Ways and Means Committee.

1983 McDermott International
1994 Helen of Troy
1996 Triton Energy
  Chicago Bridge and Iron (CBI)
1997 Tyco International
  Santa Fe International
1998 Fruit of the Loom
  Gold Reserve
  Playstar
1999 Transocean
  White Mountain Insurance
  Xoma
  PXRE Group
  Trenwick
2000 Applied Power
  Everest Reinsurance
  Seagate Technology
  R&B Falcon
2001 Global Santa Fe Corporation
  Foster Wheeler
  Accenture
  Global Marine
2002 Noble Corporation
  Cooper Industries
  Nabor Industries
  Weatherford International
  Ingersoll-Rand
  PWC Consulting Ltd.
  Herbalife International
2005 Luna Gold Corp
2007 Lincoln Gold Group
  Western Goldfields
  Star Maritime Acquisition Group
  Fluid Media Networks
2008 Tyco Electric
  Foster Wheeler
  ACE Limited
  Covidien
  Patch Int'l Inc
  Arcade Acquisition Grp
  Energy Infrastructure Acquisition Group
  Ascend Acquisition Group
2009 ENSCO International
  Tim Hortons Inc
  Hungarian Telephone and Cable Corporation
  Alpha Security Group
  Alyst Acquisition Group
  2020 ChinaCap Acquirco
  Ideation Acquisition Grp
  InterAmerican Acquisition Group
  Vantage Energy Services
2010 Plastinum Polymer Tech Corporation
  Valient / Biovail
2011 Pride International
  Alkermes, Inc.
2012 Pentair
  Rowan Companies
  AON
  Tronox Inc
  Sara Lee Corporation
  Argonaut
  Jazz Pharmaceuticals / Azur Pharma
  D.E. Master Blenders
  Eaton/Cooper
2013 Endo Health Solutions
  Liberty Global PLC
  Actavis / Warner Chilcott
  Perrigo/Elan
  Cadence Pharmaceuticals
2009-2014* AOE Corporation
  Alkermes
  DutchCo
  Global Indemnity
  Stratasys
  TE Connectivity
  Mallinckrodt Pharmaceuticals