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Obama presses to close corporate
tax loophole ´inversions´

Reuters, by Staff

Original Article

Posted By:JoniTx, 7/24/2014 2:03:26 PM

President Barack Obama will call Thursday for an end to a corporate loophole that allows companies to avoid federal taxes by shifting their tax domiciles overseas in deals known as "inversions," White House officials said. So-called inversion deals occur when a U.S. company acquires or sets up a foreign company, then moves its U.S. tax domicile to the foreign company and its lower-tax home country. Nine inversion deals have been agreed to this year by companies ranging from banana distributor Chiquita Brands International Inc to drugmaker AbbVie Inc and more are under consideration. The transactions are setting a record pace

      


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Reply 1 - Posted by: californiadude, 7/24/2014 2:20:49 PM     (No. 9938432)

Good luck with that! What a thin-skinned ignorant man.

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Reply 2 - Posted by: Axeman, 7/24/2014 2:21:35 PM     (No. 9938433)

The companies are already paying tax in the country in which they earned the money. BO wants to tax the money too. If it stays at a foreign location in a foreign company it is not his to tax. If they stop "inversions" there are still plenty of ways to stop the money from coming to BO.
Both the Flat Tax and the Fair Tax ideas put a stop to this practice and would repatriate trillions of dollars and eliminate the IRss.
The estabbers wont do either because both the reps and the dems like their jack-boots right where they are.

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R-G1
  


 
Reply 3 - Posted by: RUReadyY3K, 7/24/2014 2:22:51 PM     (No. 9938438)

Instead of prohibiting inversions, how about eliminating the incentive to do an inversion?

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Reply 4 - Posted by: Winmag, 7/24/2014 2:37:14 PM     (No. 9938459)

Is this jug eared clown the most economically challenged, ignorant fool, ever in government? Did he even take one economics course in college? Oh that´s right, we´re not allowed to know.

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Reply 5 - Posted by: civilservant, 7/24/2014 2:44:34 PM     (No. 9938470)

And by simply making the statement, Uhhhhbama ensures that a slew of companies that were THINKING of ´inverting´ will now PLAN to "invert". Sooner, rather than later.

Much like actions and elections, words also have consequences.

And the %47 fall to their knees and slobber over this fool.


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Reply 6 - Posted by: stablemoney, 7/24/2014 2:48:07 PM     (No. 9938475)

The socialists want to build their utopia then pass a law that says the residents cannot leave.

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Reply 7 - Posted by: alecto2, 7/24/2014 2:49:35 PM     (No. 9938479)

Governments in general will lie and cheat. They are evil parasites that can never get enough money to keep themselves in power.

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R-VAR_AD
  


 
Reply 8 - Posted by: yo-yo, 7/24/2014 2:52:55 PM     (No. 9938485)

MAObama says, "YOU didn´t build that!"

Oppressed taxpayers reply, "Then, WE didn´t move our company overseas."

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Reply 9 - Posted by: Doctor P, 7/24/2014 2:55:16 PM     (No. 9938490)

He does not want to reform the real cause for firms leaving as that would

- cut down on the amount of graft
- make it simpler for everyone to understand
- thus make his party weaker
- grow the economy and the power of the US

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Reply 10 - Posted by: PatrickTex, 7/24/2014 3:17:15 PM     (No. 9938519)

When you understand that the goal of Obama and his backers is to destroy capitalism and the current ways the USA economy works, because it has oppressed people/countries for decades, then you understand the policies/actions he pursues.... the "you did not build the business" be blurted out was not scripted and not his entire thought, the unspoken part was "you stole it". He and his ilk truly believe this.

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Reply 11 - Posted by: ChazzPalm, 7/24/2014 4:07:19 PM     (No. 9938601)

This is all so very confusing. Did not Barry´s close per$onal friend, Warren Buffet, go on the record that no one does anything to avaoid taxes?
Of course he did.....so....Barry moving against ´inversion´ must be a mistake since The Sage of Omaha cannot have been speaking in error.

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Reply 12 - Posted by: 4poster, 7/24/2014 4:16:33 PM     (No. 9938617)

I thought ´comprehensive´ was the end all and be all for Rats. Just not when they can stick it to business.

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Reply 13 - Posted by: grace1798, 7/24/2014 5:18:16 PM     (No. 9938695)

Pretty soon, there will be no businesses left in USA. I think we´re going to have to leave USA.

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Reply 14 - Posted by: grace1798, 7/24/2014 5:22:33 PM     (No. 9938705)

Point is.......if Obama is SOOOOOO down and hated and depressed because his numbers are so low ...boo hoo..>THEN WHY is he continuing to do more damage by destroying big business? If he keeps regulating them........prices will go up.....NEVER DOWN...and they´ll either have to leave the Country or maybe get a BRAIN and use their power to remove this madman from office before it´s too late for everyone.

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Reply 15 - Posted by: chatham, 7/24/2014 6:40:11 PM     (No. 9938790)

Has this self Centered,self absorbed ever considered some or all of the Following:
Reduce welfare to take care of the Needy,
Reduce cost of Government ,get rid of half the federal employees.
Reduce Govt. Waste all over IRS,Post office,Dept´s of Education , Housing, EPA,Etc.,ETC,
Investigete and stop waste in all areas.
Stop giving millions to foreign Governments.

That would be a good Start !!!!!

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