I should have added an image.
Posted on 07/16/2014 1:29:38 PM PDT by SeekAndFind
The Obama administration has urged congressional leaders to take swift action to halt the rush of United States companies moving abroad.
In letters sent to four lawmakers, Treasury Secretary Jacob J. Lew said the administration supported a quick fix that would halt the trend of so-called inversions, in which United States companies buy a smaller competitor and reincorporate overseas to save money on taxes.
Speaking at the CNBC Delivering Alpha conference on Wednesday, Mr. Lew called for legislation that would include a package of business reforms, one of which would bring tax levels of companies in the 20 percent range.
“The best way to deal with this is through comprehensive business tax reform and we have a plan out there that would accomplish multiple goals,” he said, citing business tax reforms and providing resources for infrastructure investments.
Members of the House and Senate have made proposals to curb the inversion trend in recent months, and the president included a provision in the budget he presented to Congress this year that would have effectively banned the move. But none of these efforts have yet gained traction.
Now, with the pace of inversions – and the size of companies moving abroad – increasing, the administration is urging Congress to act fast. Mr. Lew sent the letter to Representative Dave Camp, Republican of Michigan and the chairman of the House Ways and Means Committee; Representative Sander Levin, Democrat of Michigan, the ranking member; Senator Ron Wyden, Democrat of Oregon and chairman of the Senate Finance Committee; and Senator Orrin G. Hatch, Republican of Utah, the ranking member.
“Short of undertaking a comprehensive reform of the business tax system, there are concrete steps that Congress can take now that would address this urgent issue,” Mr. Lew wrote.
(Excerpt) Read more at dealbook.nytimes.com ...
So instead of lowering the onerous burdens on business, we’ll just cut off one of the escape routes.
We are building our own Berlin wall.
Obama would rather see them shut down than move out.
Why pay hundreds of millions of dollars to a government that doesn’t appreciate you and pisses the money away?
So lemme get this straight ... 0bama wants to CUT corporate taxes? I can scarcely believe it.
When you have to build walls - physical or legal - to keep people in, you are running a totalitarian state. Period.
RE: So instead of lowering the onerous burdens on business, we’ll just cut off one of the escape routes.
We are building our own Berlin wall.
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There are FReepers who would solve the problem of companies re-incorporating overseas by TARIFFS. So that it will be more difficult for them to sell their products from overseas to the USA and “encourage” them to hire Americans and make the products here.
So the way around this would be to sell out to a larger foreign company which would take a controlling interest in the merger. Watch out for the “unintended” consequences. The change could actually increase the sale of US companies to foreign buyers.
Obama doesnt want that... its just pressure from parties around him who are starting to recognize his shit, and are trying to mitigate it. The ill bred bastard’s goal is the destruction of America and all that made it strong. All the christianity, conservatism and commonsense. There are some politicians who would still like to have a future.
And then there is America.
The history of higher tariffs has not been good.
Tariffs were an issue in the colonial revolt against England. Tariffs —particularly on manufactured goods needed by the South-—were a proximate cause of the American Civil War. And the disastrous Smoot-Hawley tariff of 1930 brought American manufacturing to its knees when other countries retaliated, shutting down foreign markets to American goods.
These marxists are dying to seize the assets of businesses. This is why they are doing this, and why they are “fining” big businesses obscene amounts.
The goal of communism is to put all the means of production in the hands of the government.
Yes, it’s a slower blood letting, so maybe they won’t notice.
Just how pray tell?
“The goal of communism is to put all the means of production in the hands of the government.”
First step, collective bargaining. The creation and then
recruitment of unions.
Second step, creation of a false front of opposition. The
Republican party.
Third step, control of the media. ABC,CBS,NBC,CNN,MSNBC,
AP, etc...
Actually the goal is total and absolute control over life
and death of the individual. In other words “ put us right
back in the hands of king George.
This all ends with barbed wire and walls.
I should have added an image.
Just when you start to think that Democrats can’t possibly be any more hypocritical than they already are, here comes ‘’Cayman Islands Jack’’ — Treasury Secretary Jack Lew — to urge American businessmen to be more patriotic by keeping their investments in this country.
During Mr. Lew’s Senate hearings on his way to becoming U.S. Secretary of the Treasury, it was revealed — and not denied by Mr. Lew himself — that he not only had invested in a Cayman Islands tax shelter so that he wouldn’t have to patriotically pay taxes like the rest of us, he also oversaw tax-shelter investments as an employee of Citigroup where he advised many clients to be UNpatriotic by also using off-shore tax havens to evade the IRS.
So now, thanks to the Senate Democrats who so enthusiastically led the approval of Mr. Lew’s nomination, we now have a Treasury Secretary with zero moral authority to prevail on American businessmen to keep from moving their investments to countries where taxes are less onerous, partly because their finance ministers are not as corrupt as Mr. Lew and his Democratic enablers in Congress.
King George didn't desire a thousandth of the control these evil men desire. Obama and his ilk want the power of Stalin or Pol Pot. They will not be happy until they can kill, sexually violate, or otherwise destroy their fellow man on a whim.
Obama’s already destroyed a third of US publicly listed companies. There are still some left he can steal from.
Saw this...
Jack Lew: Decision on executive action on taxes ‘in the very near future’
http://washingtonexaminer.com/jack-lew-decision-on-executive-action-on-taxes-in-the-very-near-future/article/2552991
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