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Obama Seeks $100 Billion in New Taxes on Multinationals
Yahoo Finance ^

Posted on 03/04/2014 12:05:54 PM PST by Red in Blue PA

President Barack Obama proposed raising about $100 billion in revenue over the next decade through new taxes and restrictions on U.S. multinational companies.

The changes, included in his budget plan for fiscal 2015, would affect digital goods, deductions for "excessive" interest and so-called hybrid arrangements that can lead to income that isn't taxed in any country, according to the budget. Obama also wants to make it tougher for U.S.-based companies to move to other countries.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: multinationals; obamastash; tariff; taxes
Any CEO who supported this clown is an enemy of shareholders everywhere.
1 posted on 03/04/2014 12:05:54 PM PST by Red in Blue PA
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To: Red in Blue PA

Income equality.....moves companies to other countries.


2 posted on 03/04/2014 12:07:54 PM PST by Dallas59 (Obama: The first "White Black" President.)
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To: Red in Blue PA


3 posted on 03/04/2014 12:09:13 PM PST by Diogenesis
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To: Red in Blue PA

Oh that will help /sar
American companies are laying people off to cut costs and he drops more costs on them.


4 posted on 03/04/2014 12:10:11 PM PST by Zathras
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To: Red in Blue PA

“DESTROY AMERICA”

Barack’s ONLY goal.

All other elements are tactics.


5 posted on 03/04/2014 12:14:00 PM PST by G Larry (Did You Like That Better?)
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To: Red in Blue PA

Obammy’s budget is ignored by everyone.


6 posted on 03/04/2014 12:15:31 PM PST by RightGeek (FUBO and the donkey you rode in on)
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To: Red in Blue PA

It’s true that many corporations have some tax advantages over individuals but this sort of action does nothing to fix them. It’s only designed to incite the cheers of class warriors.


7 posted on 03/04/2014 12:19:54 PM PST by freerepublicchat
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To: Red in Blue PA

Normally I’d say that this is a bad thing but I don’t believe multinational corporations should be allowed to exist.


8 posted on 03/04/2014 12:28:19 PM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Red in Blue PA
Obama also wants to make it tougher for U.S.-based companies to move to other countries.

Maybe that will get a border fence built.


9 posted on 03/04/2014 12:28:42 PM PST by Paine in the Neck (Socialism consumes EVERYTHING)
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To: Red in Blue PA

Now that he won’t need their donations anymore.


10 posted on 03/04/2014 12:29:09 PM PST by Rusty0604
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To: Red in Blue PA
"Let's tax all foreigners living abroad."

Monty Python's Flying Circus, 1969


11 posted on 03/04/2014 12:31:21 PM PST by Buckeye McFrog
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To: Red in Blue PA

Without exception every single decision he makes is an attack on business.


12 posted on 03/04/2014 12:37:04 PM PST by Pietro
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To: Red in Blue PA

Sounds like I bail on the US entirely if I am such a company.


13 posted on 03/04/2014 12:39:26 PM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: freedomfiter2
Normally I’d say that this is a bad thing but I don’t believe multinational corporations should be allowed to exist.

Hmmm. Yes.

So you don't believe that firms in one country should be able to conduct lawful business in another?
14 posted on 03/04/2014 12:43:05 PM PST by Milton Miteybad (I am Jim Thompson. {Really.})
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To: Red in Blue PA

Hollywood is ripe for the picking. They need to be taxed


15 posted on 03/04/2014 12:57:21 PM PST by 4rcane
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To: Red in Blue PA

Uh — no carve-outs for GE?? Anybody taking bets on that?


16 posted on 03/04/2014 1:07:19 PM PST by DJ Frisat ((optional, printed after my name on post))
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To: Red in Blue PA

They will now be known as Foreign companies. Along with all our other manufacturing companies.


17 posted on 03/04/2014 1:18:07 PM PST by macglencoe (You see what the left hand is doing, but you should be watching the right hand.)
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To: Red in Blue PA

My view is that most large companies are resigned to the inevitability of Democrat control and are attempting to purchase influence/ransom/insurance.

Look at the list of donors for Podesta’s Center for American Progress.

http://www.americanprogress.org/about/our-supporters/


18 posted on 03/04/2014 1:23:30 PM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Red in Blue PA

populist drivel from the ‘Progressives’
Pretty soon, with the right campaign contribution, of course, Multinationals could find themselves an exemption. The system is pure corruption.


19 posted on 03/04/2014 1:37:59 PM PST by griswold3 (Post-Christian America is living on borrowed moral heritage)
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To: Milton Miteybad

I don’t believe that dual citizenships for individuals are good for the country. That goes double for influential corporations.If a company wants to establish a physical presence here, let them set up a standalone US corporation.


20 posted on 03/04/2014 2:38:59 PM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: freedomfiter2

Sorry, make that dual citizenships aren’t good.


21 posted on 03/04/2014 2:41:23 PM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Red in Blue PA

Obama Seeks $100 Billion in New Taxes on Their Customers From Multinationals...

It always “the Rich” who are taxed, but always “the poor” who pay.


22 posted on 03/04/2014 2:48:23 PM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: freedomfiter2
...If a company wants to establish a physical presence here, let them set up a standalone US corporation.

Uhhh...has it occurred to you that the entity that owns the "standalone" U.S. corporation will itself be foreign-owned, at least in part, and to the extent that it is, you will have a multi-national firm that owns a U.S. affiliate? In other words, there's still going to be a multi-national entity involved.

You didn't think that the multi-national was going to the trouble and expense of setting up a U.S. affiliate without retaining an equity stake in it, right? Any more than a U.S. corporation is going to set up a foreign affiliate without retaining a similar equity interest. Likewise, in that case, there will still be a multi-national entity in the mix, and the rights that go along with that ownership would inure to the benefit of said entity.

I suppose you could outlaw foreign companies doing business in the U.S., but obviously no one who understands the importance of international trade to the U.S. economy would advocate that position.
23 posted on 03/04/2014 5:49:08 PM PST by Milton Miteybad (I am Jim Thompson. {Really.})
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To: Red in Blue PA

we just have too much freedom and are just not taxed enough already.


24 posted on 03/04/2014 6:14:38 PM PST by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: freedomfiter2

Just a few Multinational Corporations:

Intel
Microsoft
Google
Starbucks
Caterpillar
Pfizer

Just to name a few......and you think these companies are a bad thing for the US economy?


25 posted on 03/05/2014 2:56:56 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

No. They’re bad for the country and it’s citizens. While they may simplify big business, their existence is a net loss for individuals.


26 posted on 03/05/2014 5:14:06 AM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: freedomfiter2
their existence is a net loss for individuals.

How? BE SPECIFIC.

If Company XYZ has 30% of its sales going to China, it makes sense to set up shop there and produce what is sold in that nation. These companies cannot produce widgets in the USA and sell them in China as the price differential is enormous on most things.

You have a very narrow view of how business works, and that is being generous.
27 posted on 03/05/2014 8:28:46 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

There are more important things than business. The multinational corporations have come to dominate our political system. They have created a class of elites that are anti American. Just look at the GOPe,they would sell us out to the UN if it would put more money in their pocket.That’s not something we should support no matter how convenient.


28 posted on 03/05/2014 10:21:53 AM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Red in Blue PA

The Public Stability law.


29 posted on 03/06/2014 9:49:46 AM PST by RWB Patriot ("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
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