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 ...
Where is that Republican congress? Boehner? Anyone? Hello?
I guess no one’s home.
Obama put the banana in the republic.
Plenty of time to do more damage. He’s already guffed up the judiciary and appeals panels. If we don’t get a GOP Senate majority he’ll spend the next two years ruining what’s left of our legal system.
Hey, maybe we will get that fence now...to hold us in just like real communist countries do.
The beatings will continue until morale improves!
52 posts before someone even BEGINS to address WHY companies are leaving America.
And that is a HUGE part of the problem, folks.
Seems that way, in retrospect. So long as the Soviet Union existed, there was something to oppose. Now, there isn’t, so we seemingly felt free to become what they were.
America has sent FAR too many jobs to China.
We need to bring back jobs. To America.
Stop importing everything.
So, for companies who invert themselves, are they still required to meet the employer mandate, or once they are overseas is that something they no longer have to worry about?
“America has sent FAR too many jobs to China.”
Jobs have been fleeing America by the millions since the 70’s, and to many places, not just China. They are just the latest (though biggest) spot. Before that it was Taiwan, Mexico, Japan, Bangladesh, India, etc.
Until you address WHY those tens of millions of jobs left America, you are just wizzing in the wind.
No I’m not.
America needs to fight for American jobs.
You may have a reason to oppose me on this. Fair is fair.
I however am completely on America’s side.
I have been watching America’s jobs going overseas since the 70’s. This is nothing new. What the Clean Air Act did to the US Steel Industry was the canary in the coal mine, but no one was listening.
As I said before, until we address THE WHY’s, we are just wasting breath.
The Ophonybama Administration(????) is imploding.
Keep it up, assholes!
You are winning our war for us!
The answer is: ZERO INCOME TAXES ON BUSINESSES!
FAIRTAX, NOW!
With FairTax, there are NO INCOME TAXES ON BUSINESSES!
Not only will companies quit moving offshore, they will move back to the USA!
Prove WHAT case? What are the companies accused of that’s illegal? The mere fact that liberal fascists don’t like a thing is not actually legally significant.
Yep. Nixon and OSHA comes to mind. The jerks in Congress get to laws and regulations made without having their signature on these. Shirking their responsibility until they get all huffy and puffy with their oversight committees. They gamed the system.
Most of America supported Obama, and a large enough portion of that support voted for him to put him in office. So, you are correct that 'Americans' don't find inversion companies' actions admirable.
I am a conservative American, and I don't want US companies going overseas. I want their jobs, productivity, creativity, etc. to stay here. I'd prefer we lower our corporate tax rate to zero and institute a fair tax.
On the other hand, a lot of these companies, I think, are simply getting just desserts so far as taxation is concerned, for they, too, have proclaimed a 'liberal lite' line along with the Chamber of Commerce. Many of them contributed to the Obama campaign. Many of them were silent when the discussion about the rich paying their 'fair share' raged.
I have no great sympathy for them, and, in fact, if I could identify those particular companies, I'd go out of my way to make it hard for them to do an inversion.
They are hypocrites. I'd call it the hypocrisy tax.
“I’d go out of my way to make it hard for them to do an inversion.”
You are, by definition, a tyrant.
You think that companies are milk cows on the government farm. They are not. They are private property and are willing to play by the rules and pay reasonable taxes. When those taxes impact their ability to be competitive they will do what it takes to remain competitive.
You are so naive as to think they now have no options? You, like the government are wracked with envy and lust for power and money.
Watch the unintended consequences. You, like our government, will “blame the milk cow” for not producing when you are starving them of the opportunity to thrive.
I have no regard for people like you who are so short-sighted as to willingly give up your liberty and property - by supporting this garbage.
These companies may not technically “invert” but you are an idiot if you think this somehow makes “American Jobs” somehow more likely. Assets will go overseas anyway - people, expansion and everything else. We will now be importing what we could be making here - and if you do not see this you cannot be helped.
Watch what happens. Blame the cow for running to the next pasture over so it can eat. Blame the next farm over for prospering while you neglect your fields.
Stupidity. Raw stupidity.
I don’t think you bothered to read what I wrote.
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