Even his slurppiest media supporters will soon find there is little to laugh at.
Posted on 05/03/2009 5:11:57 PM PDT by Sub-Driver
Obama to roll out international tax proposals Sun May 3, 2009 7:01pm EDT
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WASHINGTON (Reuters) - President Barack Obama plans to roll out a set of proposals on international tax policies on Monday, in an announcement with potential implications for U.S. multinational firms.
The White House said Obama will be joined by Treasury Secretary Timothy Geithner for the 11:05 a.m. EDT (1505 GMT) event.
Obama's budget outline released in February made reference to proposals to change the tax treatment of U.S. firms with overseas operations and measures to crack down on international tax evasion.
The White House said at the time the measures would bring in $210 billion in additional revenue over the next decade.
During his campaign last year, Obama spoke out against provisions in the tax code that allow U.S. firms with overseas operations to defer payment of taxes on corporate profits.....
(Excerpt) Read more at reuters.com ...
He'll lose. It'll be tied up in the courts forever.......
Now Timmy wants to be an INTERNATIONAL TAX CHEAT!
You may have come up with a new Obama motto:
All your profits are belong to us.
Classic liberal ideology. Spend and piss away trillions of tax dollars into a bottomless pit of debt, then claim justification for instituting draconian taxation policies on everyone and everything.
This idiot is charging head long into the abyss and dragging the country with him.
Aren’t the trapped profits taxed first in the host country?
I urge all tea party members to unite and protest the CO2 tax /cap and trade scam. Visit Icecap at date April 28 under blogospere and read about the upcoming tax and CO2 regulation which will cost us thousands of dollars each year.
http://icecap.us
OK, if it's in the tax code it's NOT TAX EVASION.
Apparently, though, the Obamassiah has decided that anything he doesn't agree with must be illegal and must be stopped immediately, regardless of the legality or Constitutionality of the action.
Yep. All that to get back 20 billion dollars a year.
Not a new idea, just one that has proven not to be workable. This whole king of the world concept of his is getting old.
“...And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.”
What is to prevent a US company from setting up an independent corp in a foreign country? Or to have an independent branch?
Obama’s a socialist prick. This country is dead if it keeps following him.
Agree on him being a dope, but not so sure companies will move entirely out of the US. You KNOW Obama is doing this in hopes that the companies will come back to the US. He'll slap enough taxes on them to make them want to come back to America, but it's ALL for the unions, doncha know? He's definitely in bed with the unions! Look how much money the union guys pay in taxes. That's a huge loss to the government. He'll do all that he can to help the unions get those companies back to America.
I have to say that I'm all for the companies coming back to America. It would be nice to buy products made in the USA again so we don't have to worry about shoddy workmanship or poisoned materials and food. Besides, I HATE the CFR globalists. If this causes them to falter, then I'll be all happy.
Nothing. Many do. And they are demonized by this President - and many FReepers as well - for being “traitors” and “evading taxes”.
Funny that you should ask...
I wonder what, when and where the tipping point will be. No matter, what ever it is, it will go viral quickly. And I'm not talking about swine flu, if you catch my drift...
5.56mm
These companies are going offshore for the cheap labor, and not much for generating revenue from international customers. Of course there are cases of US companies having international customers, but this is SMALL POTATOS.
Even his slurppiest media supporters will soon find there is little to laugh at.
Corporations will simply close ALL of their US offices, and move to other countries.
Great way to go Zero, just when we need capital investment in the US economy.Here we are attempting to recapitalize, and Obama starts a taxation war with corporations?
WHAT AN IDJIT!!!!
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