In a letter to Senate Finance Committee Chairman Ron Wyden (D-Ore.), Treasury Secretary Jack Lew called for a “new sense of economic patriotism” in which U.S.-based companies are no longer allowed to do “inversion” transactions only for the purposes of changing their tax domicile.
Several such transactions have been proposed recently including by U.S. drug makers Abbvie and Mylan. Lew wants legislation to be retroactive to May to block such transactions.
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3 comments:
So it's "patriotic" to pay taxes, but it isn't to spend it wisely?
Bullhonky!
"Ve have vays uf making U pay"
How about lower the tax rates???That is a PROVEN way to keep companies in the USA (or Maryland--wow, what a concept). When taxes go DOWN, good things happen! Look at the "successful" states today--all run by Republican governors and either a low tax rate, or in some cases no personal income tax at all.
In spite of the fact that the constitution prohibits "ex-post-facto", these guys want it retroactive!
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