Obama Seeks $100 Billion in New Taxes on Multinationals

Yahoo Finance ^

[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.

[Red in Blue PA]

Any CEO who supported this clown is an enemy of shareholders everywhere.

[Dallas59]

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

[Diogenesis]

[Zathras]

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

[G Larry]

“DESTROY AMERICA”

Barack’s ONLY goal.

All other elements are tactics.

[RightGeek]

Obammy’s budget is ignored by everyone.

[freerepublicchat]

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.

[freedomfiter2]

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

[Paine in the Neck]

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.

[Rusty0604]

Now that he won’t need their donations anymore.

[Buckeye McFrog]

"Let's tax all foreigners living abroad."

Monty Python's Flying Circus, 1969

[Pietro]

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

[Lazamataz]

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

[Milton Miteybad]

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?

[4rcane]

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

[DJ Frisat]

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

[macglencoe]

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

[nascarnation]

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/

[griswold3]

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.

[freedomfiter2]

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.