Posted on 09/22/2014 4:15:26 PM PDT by Oldeconomybuyer
The Obama administration cracked down Monday on so-called tax inversions, aiming to curb a spate of American companies shifting overseas in an attempt to shirk paying U.S. taxes.
New regulations from the Treasury Department will make inversions less lucrative by barring creative techniques that companies use to lower their tax bill. Additionally, the U.S. will make it harder for companies to move overseas in the first place by tightening the ownership requirements they must meet.
"This action will significantly diminish the ability of inverted companies to escape U.S. taxation," Treasury Secretary Jacob Lew said. He added that for some companies considering inversions, the new measures would mean inverting would "no longer make economic sense."
(Excerpt) Read more at abcnews.go.com ...
The modern Berlin wall.
And the GOP response? anyone know?
I figgered that much!
I wonder how long it’ll take them to figure out why there are so few start-ups?
The companies should just damn the torpedos and make the IRS prove its case in court. This assumes, of course, that Hilary is not our next President.
Not rinos and not running.
Pathetic. There was a time when companies were proud to be based in the US. Now we’re down to our parasitic federal government trying to force companies to stay.
You are assuming that Obola and company WANT start-ups.
If, however, they want to eliminate the pesky middle class, by creating an aristocracy and debt serfdom, well then...
What more can go wrong in the time that remains to Obama?
There’s scant public sympathy for multinational corporations shedding their tax burden by eliminating American jobs and choosing to pay foreign taxes instead.
We need to lower our domestic corporate tax burden but Corporate America should not kid itself thinking Americans find their actions admirable. They don’t.
No. It will just force corps to remain here. If they don’t pony-up to the criminal government, they will be harassed. They will become cronies in order to survive.
The truth is that I don’t want US companies going overseas, either. The difference is that I want them to stay because they want to stay in the best market in the world. Unfortunately, we’re turning what once was the best market in the world into the worst and one of the most controlled.
“Corporate America should not kid itself thinking Americans find their actions admirable. They don’t.”
Are you a thinking American? It doesn’t seem like it.
This should make our companies more attractive to foreign takeover.
Let’s put up a wall with armed guards to keep them in.
Let me guess. This was a regulation written by bureaucrats and not A law passed by Congress. Obama the Usurper must go!
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