Posted on 08/05/2014 1:27:45 PM PDT by Steelfish
Obama Weighing Options to Stop Corporate Tax Flight By JULIE HIRSCHFELD DAVISAUG. 5, 2014
WASHINGTON — The Obama administration is weighing plans to circumvent Congress and act on its own to curtail tax benefits for United States companies that relocate overseas to lower their tax bills, seeking to stanch a recent wave of so-called corporate inversions, Treasury Secretary Jacob J. Lew said on Tuesday.
Treasury Department officials are rushing to assemble a broad array of options that would “change the economics of inversions,” Mr. Lew said. Options are still being developed although no final decision has been made about whether to go forward with administrative action to strip away tax incentives for the deals.
The action comes in the face of a recent increase in United States companies reaching deals to reorganize overseas, creating an explosive political issue that Mr. Obama has seized on to talk about a lack of “economic patriotism.” Investment banks have been counseling companies to pursue such transactions because of the potential tax benefits. Two large United States pharmaceutical companies — the drug giant AbbVie, based in Illinois, and the generic manufacturer Mylan, based in Pennsylvania — agreed to such deals last month, and Walgreen, owner of the drugstore chain, is considering one.
(Excerpt) Read more at nytimes.com ...
He can’t tax without Congress can he?
Abolish the corporate tax rate and watch jobs flood back
We need to stop taxing the very process of earning money. Do that and our economy will zoom through the roof within one year because we will become the world's largest legal tax haven.
The difference between a free country and a tyranny is which way the guns are facing at the border.
Douchebag.
He’ll use the EPA idea , and just take the money
You can check out any time you like, but you can never leave.
Sounds like something his dead buddy Hugo would do.
How to make NO American based company will buy out a Euro or Asian company ever.
How to make sure that hot new start ups start up in other parts of the world.
All in one easy lesson.
In 2008, during the campaign, I heard Obama say that the Corporate tax rate should be lowered. Yeah, really.
I swear I think it was in February of that year.
In that very same interview he admitted that though he was against the Welfare reform in the 1990’s he had since realized that it was a good idea and now supported it; especially the work requirement.
Those 2 lies have always stuck with me for some reason.
How very Nazi of him.
Obviously an illegal move by Obama. I’m sure corporate lawyers would quickly challenge Obama in court where Obama will get another slam down.
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- Baraaaak Hussen Ebola (Junior) is a bit late
- eBay has intelligent English-speaking Customer Support staff in Malaysia
- Amazon has great Customer Support staff in South Africa and Columbia SA
- they speak English better than Prezzy B. Husein Ebola Junior and they don’t play golf or snort blow when you need something important done.
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He won’t build a wall to keep illegals out, but he will build it to keep taxpayers in. Mr. Obama, put up that wall.
Directive 10-289 ought to do it....................
These control freaks will never learn(or maybe they don’t care) but the money will always flow where there is the greatest return.
I always think of Curly trying to fix a leak and ends up with a labyrinth of pipes(the US tax code?) when I see these control freaks try to stop the water(money) from flowing.
Offer the greatest return and the money and jobs will come back.
- no Fort Hood #3 this time
- Barry Hussein Ebola Juniors’s step brother has been in Afghanistan again...
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