Posted on 06/16/2009 10:41:23 PM PDT by pissant
Prime Minister Vladimir Putin on Monday criticized U.S. President Barack Obama's plan to raise taxes on U.S. companies' foreign operations, saying it would amount to double taxation that will hurt the global economy.
"This is a serious decision for the world economy," Putin said at a meeting of the Presidium, the government said on its web site. "If taxes are imposed on all companies working abroad, then it will mean the total destruction of the system for avoiding double taxation."
Putin instructed Finance Minister Alexei Kudrin to hold discussions on the plan with Obama's administration.
Kudrin met with finance ministers from the Group of Eight over the weekend and signed an agreement with Italy outlining a system for avoiding double taxation.
Obama has proposed canceling a provision of the tax code that allows foreign subsidiaries of U.S. corporations to defer tax payments on money that is reinvested in local operations.
"It's a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York," he said in May, referring to the current state of the U.S. tax code, media reported.
(Excerpt) Read more at moscowtimes.ru ...
Pretty sad that all what Reagan and Bush Sr did during their terms of service in the whitehouse to fight communism has all been destroyed in a couple months by Obama.
We are now more bolshevik then the USSR. God help us.
The irony is absolutely breath-taking.
When a US company offshores part of its operations:
* it does so to produce goods/services more cheaply than it could so on in the States, because it avoids paying insane taxes and tariffs.
* Americans get those goods and services more cheaply because they were produced more cheaply.
* The Government that operates America’s insane wealth-eating tax and tariff structure gets less money, creating pressure on Government to cut back on its crazy spending.
Like any good statist you appear to believe that American companies have a moral obligation to give their money to the Government. You’re doubtless going to buy a Government Motors car and call yourself a patriot for doing so. Fortunately the rest of us are free men.
I think we’re stuck with our chocolate covered jimmy carter.
This is very much attributable to democrat supported changes in demographics, and to the combined influence of liberal academia and the liberal MSM. We've gone from ‘no one owes you a living’ to ‘everything is your right, even if you don't work to earn it’. Redistribution of honestly earned wealth is nothing more than theft. Heavily progressive taxation is a part of that theft.
I feel like I’m trapped in a Kafka nightmare.
A power-hungry, big-time KGB guy is telling the prez of an ostensibly or at least previously capitalist country that he’s raising taxes too high.
Stunnig. And, some of you may have read the recent Pravda column about our race to communism at breakneck speed.
Sofaman, You and me both.
But this line below got me with the Buffalo reference:
"It's a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York," he said in May, referring to the current state of the U.S. tax code, media reported.
This reminded me of the Late Jack Kemp, his Optimism, and how he was a pain to Ronald Reagan, with his tax talk, and Reagan listened.
We have no one right now really talking a flat tax with one exemption, health insurance which would stop OBozo's Bozo-Care dead in it's tracks.
Yet Poland may get a flat tax and already has Corp, Div., and Cap-Gains at 18%. Yes we are living in upside down Bizzaro land.....
What’s the matter with you? Are you CRAZY? YOU must be one of those corrupt businessmen who are finally going to ‘get theirs’...
/S
I apologize. Just lost it for a second there.
You’re exactly right.
Putin is no friend of America - some FReepers’ ODS notwithstanding. America has few friends around the world...and fewer in Washington.
You can thank your politicians, and protectionists who cannot comprehend the process.
Tone it down.
“Pretty sad that all what Reagan and Bush Sr did during their terms of service in the whitehouse to fight communism has all been destroyed in a couple months by Obama.
We are now more bolshevik then the USSR. God help us.”
Unbelievable. An Ex-KGB guy and the Chicoms are more capitalistic than Obama
Some of use have been saying this for a long time. and it wasn’t just Obama-—the “troubles” started in you know who’s administration.
Obama would have done just fine in the old Soviet days...in the USSR.
Putin says one thing about taxes and all of sudden everyone on here forgives him for being a murderer and dictator.
Putin - Palin in '12
But you’re forgetting one important fact: Bush’s immigration policy was a massive failure.
Wasting your breath, Puty.
Mr CockSure ain’t listening.
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