"Three prominent Democratic senators on Tuesday urged President Barack Obama to use his executive authority to reduce or eliminate tax breaks for companies that shift their headquarters overseas to cut their U.S. tax bills."Just lower their taxes, and not only will they stay, new businesses will come here. Ron Paul warned that any wall the US built would be used to keep Americans in, not foreigners out.
"The Democrats, however, said that even this might not deter inversions, because some jurisdictions would still undercut the 28 percent nominal rate envisioned in Obama's corporate tax reform proposals."Companies will still chase lower tax rates in jurisdictions like Ireland where the corporate tax rate is 12.5 percent," they wrote. "This is a race to the bottom the United States simply can't win and should not be lured into entering.""
We can and should win it.
Obama helped Delphi headquarters leave the country to get a tax break.
The Treasury Department wants to hold more cash in the event markets shut down. It seems they're planning for it.
New York bills Robert Redford $1.6 million for taxes he paid in Utah where he lives and enjoys a much lower rate.
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