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 ...
210 Billion over ten years, chicken feed. Sheesh he passes pork bills for trillions. Billions seems like pennies now
Firms Face New Tax Curbs
[but not Zero’s chief of staff]
Wall Street Journal | May 4, 2009 | John D. McKinnon and Jesse Drucker
Posted on 05/04/2009 5:21:03 AM PDT by reaganaut1
http://www.freerepublic.com/focus/f-news/2243692/posts
FOLLOWED BY THE SOUND OF THE LAST DOLLAR IN YOUR WALLET BEING VACUUMED UP BY FEDZILLA!
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When are people going to wake the hell up and realize the sound of the last dollar being vacuumed from their wallets is because the WILLINGLY allow it. Until people take a real stand and refuse to allow it, you are right, they will take your last dollar. Time to say enough is enough and do something about it....and you all know what that means. Sometimes liberty requires more than bi*ching on the internet, it takes real live actions.
FOLLOWED BY THE SOUND OF THE LAST DOLLAR IN YOUR WALLET BEING VACUUMED UP BY FEDZILLA!
_____________
When are people going to wake the hell up and realize the sound of the last dollar being vacuumed from their wallets is because the WILLINGLY allow it. Until people take a real stand and refuse to allow it, you are right, they will take your last dollar. Time to say enough is enough and do something about it....and you all know what that means. Sometimes liberty requires more than bi*ching on the internet, it takes real actions.
LMAO, go drink some more Kool Aid, OBOT
Hopefully...I think we will bounce along this bottom for a while and see material improvement beginning in FY 2011. Non-residential is another story. That won’t begin to recover until 2012 in my opinion.
TROLL
I agree with what you write (who am I to argue with a “businessprofessor”). Basically wrote it to people who think this is a great way to get back at evil businesses. Not that there’s anyone here who thinks that, maybe a DUmmie might wonder in.
Walter Williams does not agree with you. He does not make a distinction between per unit and corporate taxes. Here is a quote from WW:
A subject area in economics, called the incidence of taxation, says that the party upon whom a tax is levied does not necessarily pay the tax. They might shift it onto some other party. That's precisely what corporations do. They are merely tax collectors.
I agree about the difference in impact between per unit and corporate taxes in the short run but not the long run. If a corporation cannot obtain a reasonable return on its investment, the corporation will fail. Shrinkage of the industry will mean higher prices for consumers due to reduced competition.
The BLS unemployment figures for April come out on May 8. I bet that they go higher from the 8.5% for March. The black uemployent rate is 13.3%.
Man, I bet Caterpillar is eating some crow over this.
I guess they didn’t buy into his protection racket.
KM is that you?
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