Posted on 05/04/2009 10:07:48 AM PDT by keep your powder dry
May 4 (Bloomberg) -- President Barack Obama proposed to raise about $190 billion over the next decade by outlawing three offshore tax-avoidance techniques used by U.S. companies such as Caterpillar Inc. and Procter & Gamble Co. He also would make it riskier for Americans to stash money in tax-haven banks.
The tax system is “full of corporate loopholes,” Obama said at the White House today, as he outlined the plan along with Treasury Secretary Timothy Geithner. The tax proposals, which will be part of a detailed budget the administration releases later this week, would raise a total of about $210 billion over the next decade.
(Excerpt) Read more at news.yahoo.com ...
PS: Did you guys at Wall Street make a deal with Obama to be exempted from this latest tax increase?
One of the Yahoo stories on this event stated: “President Barack Obama vowed Monday to “detect and pursue” American tax evaders . . . “
I thought this took a lot of gall, but then, I realized that Obama does have some more staff positions to fill!
What do they care? Companies don’t pay taxes, we do.
One of the Yahoo stories on this event stated: “President Barack Obama vowed Monday to “detect and pursue” American tax evaders . . . “
I thought this took a lot of gall, but then, I realized that Obama does have some more staff positions to fill!
Who will pay for those new taxes? The average working stiff, that’s who. Companies will raise their prices to cover the new taxes. Cut your taxes? Yeah right!
That sucking sound you hear is companies leaving America.
Wasn’t Obammy just speaking at Caterpiller’s headquarters, talking about “shovel ready” jobs.
Companies that use all 10,000+ pages of US tax law to protect their profits are not criminals.
Tax increases on companies are NOT paid by those companies. They pass along increased taxes, just like other increased costs, to their customers, and ultimately to the final consumers.
SO, when 0bama tells us that he’s not raising taxes on individuals...tell him he’s full of fetid equine excrement.
It’s time to take back the country.
There is no such thing as a “offshore tax-avoidance technique” unless it’s written into US tax law. The last thing we need to do in a recession is increase costs on businesses.
MORE CLASS WARFARE ON TAXES FROM THE OBAMANIACS!
We could have expected the just announced “crack-down” on those nasty old corporations for sheltering income from Timmy Turbo Tax.
But WHY THE HELL AREN’T ALL THE PUBBIES SCREAMING FROM THE HOUSE TOPS THAT “CORPORATIONS AND BUSINESSES DO NOT PAY TAXES, THEY COLLECT THEM FROM THEIR CUSTOMERS, SHAREHOLDERS OR EMPLOYEES AND REMIT THEM TO (FANFARE HERE) THE GOVERNMENT!!!!”
When Governor Lester Maddox was informed of the high level of misbehavior and crime among the inmates of the Georgia prison system, he remarked “What we need is a BETTER CLASS OF CRIMINAL.”
Looks like the GOP needs a better class of politician. Replacing them all with citizens with some COMMON SENSE in 2010 sounds like a plan to me.
If we haven’t begun that process yet, we’re late already!
MORE CLASS WARFARE ON TAXES FROM THE OBAMANIACS!
We could have expected the just announced “crack-down” on those nasty old corporations for sheltering income from Timmy Turbo Tax.
But WHY THE HELL AREN’T ALL THE PUBBIES SCREAMING FROM THE HOUSE TOPS THAT “CORPORATIONS AND BUSINESSES DO NOT PAY TAXES, THEY COLLECT THEM FROM THEIR CUSTOMERS, SHAREHOLDERS OR EMPLOYEES AND REMIT THEM TO (FANFARE HERE) THE GOVERNMENT!!!!”
When Governor Lester Maddox was informed of the high level of misbehavior and crime among the inmates of the Georgia prison system, he remarked “What we need is a BETTER CLASS OF CRIMINAL.”
Looks like the GOP needs a better class of politician. Replacing them all with citizens with some COMMON SENSE in 2010 sounds like a plan to me.
If we haven’t begun that process yet, we’re late already!
Can we post stories now leading to Bloomberg?
If the GOP leadership were a stable of racehorses, their premier competition would be the Gelding Stakes.
Exactly. Leaving, or being bought out. If I had some spare cash, I’d be looking at commercial land in the Caymans. Something tells me there’ll be a small land-rush there soon.
change you can live with?
I guess because he spent so much time in foreign countries growing up he never heard the old but true saying, “You can’t get blood out of a turnip”. Or “nothing from nothing leaves nothing.”
Guess what Bambi, there ain’t no future in that route, hello.
The reason the Dow is up is because of good economic news. Unemployment numbers on Friday were less than expected. Housing starts have been up 2 months in a row, construction spending went up last month when it was expected to stay flat. Many corporations have been announcing better than expected earnings the last 3-4 weeks.
Good job limousine liberals who control Wall Street. Make another fake rally and convince people that Obama socialism is doing great where in reality it is destroying the economy.
The same "limosine liberals" controlled Wall Street when Bush was in office. The market boomed those years. If they hated Bush the market shoudld have sucked those years.
I ask again...is this guy just clueless...or is he evil?
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