Obama: U.S. Companies Using Inversions to Avoid ‘Paying Their Fair Share’
"This directly goes out what's called corporate inversions. They are not new, simply put in laymen's terms, they acquire small companies. And change their address to another country on paper in order to get out of paying their fair share of taxes here at home. As a practical matter, they keep most of the business in the United States because they benefit from American infrastructure and technology and they benefit from the research and our patents. They benefit from American workers but effectively renounce their citizenship and declare they're based somewhere else, thereby getting the rewards of being an American company without fulfilling the responsibilities to pay their taxes the way everybody else is supposed to pay them."