The debate over US 'corporate inversions' took another twist this week when a new TV advertising campaign was launched which criticizes American companies reincorporating offshore for tax purposes.
The advert is the creation of a group of taxpayer and citizen organizations calling themselves 'The Bermuda Project', and calls into question the patriotism of firms practicing corporate inversion, using images that contrast American infantrymen toiling in the sands of Iraq, whilst a fictional company executive enjoys the sands of a Bermudian beach.
"In the sands of Iraq, our soldiers risk their lives for our country," the ad's narrator laments, continuing: "At the same time, big corporations are abandoning our country and setting up phony tax shelters in the sands of Bermuda."
The advert is being shown in three areas of the United States this week, in the districts of House Speaker Dennis Hastert (R- Illinois) and House Majority Leader Tom Delay (R- Texas), as well as in the Seattle area.
A spokesman for Hastert said influential Republicans are intending to investigate ways to change the tax system in order to encourage more US firms to incorporate at home.
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