Obama studying executive action options on tax inversion

suntimes ^ | 8-7-2014

[Citizen Zed]

President Barack Obama says he's reviewing all options to stop American companies from reincorporating overseas to avoid paying U.S. taxes.

Obama says the practice is unfair and not right. He says the tax income that's lost as a result must be made up somewhere and that it's usually through higher taxes or reduced government services.

Obama says he would prefer that Congress act to close the loophole, but that he's considering acting on his own to end the practice.

[Citizen Zed]

Obama, check the stack of bills on Dingy Harry's desk. You'll find what you are looking for there.

[2ndDivisionVet]

Has he built his version of the Berlin Wall/Iron Curtain yet?

[SpaceBar]

Obama doesn’t study jack. The headline refers to the administration’s lawyers and string pullers.

[Maurice Tift]

  Exactly - Harry Reid won't send him any legislation because Obama doesn't want any legislation. Meanwhile, Obama continues his reign of terror.

[WhistlingPastTheGraveyard]

Being allowed to leave the North American Workers Paradise is now a loophole.

The madness is never-ending.

[martin_fierro]

Tyrannical at home, feckless abroad

[wayoverontheright]

Another mess in the making. The solution of course is a reduction in corporate taxes.

But no, Obama will utilize punitive measures to outlaw the exit. My guess? Hit the CEO’s on their personal taxes if they move their corporations overseas.

Oh, and it will be targeted. Those corps already “contributing” to the party will be exempt.

[norwaypinesavage]

In this case, business holds the ultimate trump card. The government exerts significant control over businesses. Businesses can be forced to pay taxes, to hire certain classes of people, to place certain features on their products, to be open or closed certain hours, to pay employees certain amounts, to locate in certain places, and many things like that.

There's one thing the government CANNOT force. They cannot force a business to stay in business. A business owner can simply close up shop. If he chooses to close down, and maybe open another business somewhere out of Obama's control, Obama will be hard pressed to stop him.

[martin_fierro]

"It's a tax. It's all good."

[Dutch Boy]

Here is a simple solution for the knuckle heads in Washington. Make compliance with paying taxes easier than avoidance. This entities spend a tremendous amount of money trying to figure out how to best protect their money. Even at that cost, it’s cheaper to avoid than comply. If that want money to come rushing home, make it easier and cheaper to do so not punitive and complex.

[CSM]

But it is OK for central Americans to renounce their citizenship!