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 ...
"ONLY"?
Great countries have fallen in much less tome - and he's already got a big head-start...
As to ever rescinding some of his edicts - some cracked eggs don't go back together
I read it. You spoiled an otherwise conservative view by buying into populist tyranny on corporate inversions, mainly that these companies need to be judged and punished.
In my opinion, you aren’t reading with a great deal of comprehension and perception.
If you really get that out of there, then I totally missed my objective in writing.
Who is going to do the writing, and who will be supervising them? I suggest that first the supervisors, then the writers start having "accidents" on their way to or from work. There must be a few loyal Americans working at those agencies who would be willing to ID the perps.
All that does is make the attorneys for the plaintiff and the defendant richer.
“There's no way to rule innocent men. The only power any government has is the power to crack down on criminals. Well, when there aren't enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.” -- Ayn Rand
True. But they have to declare it to be a crime first.
I think he was saying he’d make LIBERAL companies, the ones who supported Obama and other instances of class warfare, live by these punitive and unfair rules, that since they’re willing to swim in that kind of a sea, that they deserve it.
I don’t think he was saying he’s in favor of laws against inversion in general nor for them to be applied against conservative companies. Just that this is what libs supported, and now they’re getting what they deserve if it gets applied to them.
Sorry inversion supporters but I think companies who skip the country to take advantage of a tax loophole are not patriotic. If they want to see what some people pay to protect the USA, they should take a trip to Arlington Cemetery.
That’s exactly what I was saying.
That attitude is the reason for the administration’s aggression. Just hire your own lawyers rather than defend on some big firm that is no more likely to win. The firm’s associates do all the work anyway. Hire away your guns from the second tier. All you want is a delaying action anyway while you lobby the politicians. If they win, you win. As for money, just make the CEO sell his personal jet.
There are no loopholes in tax law. It’s either legal or illegal.
The IRS under Obama is unilaterally “changing” corporate tax law. If he can do this, he can eliminate the mortgage interest deduction or raise tax rates on left-handed redheads from Texas.
Yup. Venezuela was my first thought. But at least we have people like Sean Penn as our moral conscience.
Bumpity bump bump!
This will all get struck down
“That’s exactly what I was saying.”
Then I misread your post. I was wrong.
Thanks, RFEngineer. You’re an honest man.
I don’t even know if Boehner is smart enough to tie his actions to crony capitalism. I’ve seen dung heaps in a barnyard with a better chance of displaying logic.
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