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 Obama to crack down on overseas tax loopholes

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Artie60438




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Obama  to crack down on overseas tax loopholes Empty
PostSubject: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/4/2009, 11:08 am

The GOPosaurs will soon be crying that Obama is raising taxes while they try to defend the indefensible...

Obama seeks tax changes for U.S. firms overseas
Mon May 4, 2009 12:00pm EDT
By Caren Bohan and Kim Dixon

WASHINGTON (Reuters) - President Barack Obama on Monday will propose changing provisions in the tax code that he says encourage U.S. companies to move jobs overseas, as part of a broader package aimed at saving $210 billion over 10 years.

The plan also would make it harder for individuals to stash money in overseas accounts to avoid taxation. Obama will roll out his ideas in an announcement at 11:05 a.m. EDT, where he will be joined by Treasury Secretary Timothy Geithner.

U.S. officials said Obama wants to follow through on a campaign promise to change the tax treatment of firms with overseas operations.

In an echo of a line he used often on the campaign trail last year, Obama vowed in a February address to the U.S. Congress to make the tax code more fair by "finally ending the tax breaks for corporations that ship our jobs overseas."
http://www.reuters.com/article/marketsNews/idUSN0334332620090504
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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/4/2009, 11:32 am

Ok Artie, get ready...I admit, IF this is implemented, is an OUTSTANDING idea.
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Artie60438




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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/5/2009, 7:43 am

Right on schedule,just as I predicted....

Republicans Defend Tax Havens Against Obama Crackdown
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Heretic

Heretic


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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/6/2009, 9:27 am

Democrats too. Evil or Very Mad
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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/6/2009, 2:23 pm

lol! Uh-oh Artie!!
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Scorpion

Scorpion


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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/6/2009, 2:41 pm

Heretic wrote:
Democrats too. Evil or Very Mad

Yep. Nobody said it was going to be easy. But I really think that the American people are solidly behind Obama on this, so I expect that, in the end, Congress will be forced to give in on this issue... And it's about frickin' time!
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Artie60438




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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/6/2009, 2:53 pm

Ohhmama wrote:
lol! Uh-oh Artie!!

You don't really want to start keeping score on this,do you?

There are 3 Dems mentioned and only one,Representative Joseph Crowley,seems to be totally against it. Baucus wants "further study" and Boxer is worried about unintended consequences. Both of those positions are quite reasonable.

OTOH,the GOPosaurs were circulating an email against it before it was even announced claiming it was a tax hike,when in reality it's to stop corporations from evading taxes..
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UrRight




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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/6/2009, 8:01 pm

I read all about it...until Obama walks his talk, I won't hold my breath. So far, it's always talk and no action.

"Change" people were to believe in. I'll believe it when I see it happen.
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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/7/2009, 3:14 am

Personally I think this is a big yawn. You're kidding yourselves if you think the drop in the bucket a few individuals try to squirrel away from Obama's greedy hands to squander away on out and out crapola means anything at all. In fact I oppose the personal Federal income tax period anyway. There's not even a need for it!

Now going after corporations squirreling away money overseas to avoid US taxes just might be worth the bother. Now you're talking real sums of money.
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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/7/2009, 3:19 am

Scorpion wrote:
Heretic wrote:
Democrats too. Evil or Very Mad

Yep. Nobody said it was going to be easy. But I really think that the American people are solidly behind Obama on this, so I expect that, in the end, Congress will be forced to give in on this issue... And it's about frickin' time!

Why do you think that? Are we so brainwashed as to think that overpaying taxes is somehow patriotic or something? And that's not to mention all those stinking per use tax increases.

If you've conned the majority of the American people into thinking this is a good thing then it's time to set up a separate country so the rest of us can live free in peace and safe from needless taxation oppression!
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Artie60438




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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/7/2009, 8:38 am

Mirage wrote:

If you've conned the majority of the American people into thinking this is a good thing then it's time to set up a separate country so the rest of us can live free in peace and safe from needless taxation oppression!

Funny how you righties are always screaming about patriotism and now all we hear is calls for secession.
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Heretic

Heretic


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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/7/2009, 1:00 pm

Scorpion wrote:
Yep. Nobody said it was going to be easy. But I really think that the American people are solidly behind Obama on this, so I expect that, in the end, Congress will be forced to give in on this issue... And it's about frickin' time!

Agreed. It's interesting watching the arguments against this, complaints of "tax increases". How can it be honestly considered an increase? They're supposed to be paying anyhow, right?

Mirage wrote:
Now going after corporations squirreling away money overseas to avoid US taxes just might be worth the bother. Now you're talking real sums of money.

There's been movement on that front, too.
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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/8/2009, 12:37 pm

Mirage wrote:
Scorpion wrote:
Heretic wrote:
Democrats too. Evil or Very Mad

Yep. Nobody said it was going to be easy. But I really think that the American people are solidly behind Obama on this, so I expect that, in the end, Congress will be forced to give in on this issue... And it's about frickin' time!

Why do you think that? Are we so brainwashed as to think that overpaying taxes is somehow patriotic or something? And that's not to mention all those stinking per use tax increases.

If you've conned the majority of the American people into thinking this is a good thing then it's time to set up a separate country so the rest of us can live free in peace and safe from needless taxation oppression!

---------------------------------------

This is interesting. It appears as though someone edited this post. The quotes are missing or messed up.
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Heretic

Heretic


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PostSubject: Re: Obama to crack down on overseas tax loopholes   Obama  to crack down on overseas tax loopholes Empty5/8/2009, 1:18 pm

It wasn't edited. The quote mechanic looks like it's messed up. It's the same way on a few other threads.
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