In an interview on CNBC, Obama claimed that he favored corporate tax reform in order to make the U.S. more competitive with other countries and prevent the so-called "corporate inversions," in which an American company merges with a business in a low-tax countries and then bases the parent company there.
But Congress hasn't responded, the president said.
He said that he would pursue reform, but warned the process could be lengthy, citing the year and a half it took President Reagan to push through a major tax reform in the 1980s. "Now is the time to get started," he said, promising that his administration would be "foursquare behind it, as long as the goal of reform is to simplify the system, and make it fair," rather than simply cutting rates. The U.S. has the highest corporate tax rates among industrialized countries.
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8 comments:
normal answer when one doesn't know the real reason.
States, Counties, and Cities do this to each other all the time to gain a business. Why shouldn't countries? BO why don't you ask Harry why something hasn't been done?
Clueless Democrat. Can't see the forest for the trees.
Its not congress its the senate and reid
He's the biggest violator.
We need a president that can talk the talk AND walk the walk.
Congress acts but not to the liking of Reid and Obama. Their way or no way.
11:32, you just described Ireton and his treatment of the previous city council.
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