Obviously, he’s looking for positive ways to get companies to stay, right?
(NY Times) The Obama administration is weighing plans to circumvent Congress and act on its own to curtail tax benefits for United States companies that relocate overseas to lower their tax bills, seeking to stanch a recent wave of so-called corporate inversions, Treasury Secretary Jacob J. Lew said on Tuesday.
Treasury Department officials are rushing to assemble an array of options that would essentially wipe out the economic incentive for the deals, Mr. Lew said. No final decision has been made.
“The question is, Can we do enough that it will materially change the economics of inversions so that companies will make different decisions?” Mr. Lew said in an interview. “The things we are looking at look to me like they could very materially change the economics of inversions.”
The action comes in the face of a recent increase in United States companies reaching deals to reorganize overseas, creating an explosive political issue that Mr. Obama has called a lack of “economic patriotism.”
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He has no clue how to fix the economy, and because he chose all Democrat progressive communist cabinet members who only know, well, nothing about that, he's grabbing at straws and trying to "look good".
ReplyDeleteObama should be an economic patriot and RESIGN.
ReplyDeleteIt's apparently patriotic to pay taxes, but what about spending tax revenues efficiently?
ReplyDeleteBow our heads For a Lincoln or Kennedy Moment of silence...
ReplyDelete8:27PM
ReplyDeleteYou obviously don't know much Lincoln history or you'd have left his name out of that comment.