Obama Calls for Curbs on Offshore Tax Havens
By JACKIE CALMES and EDMUND L. ANDREWS
NYT
WASHINGTON — President Obama on Monday called for curbing offshore tax havens and corporate tax breaks to collect billions of dollars more from multinational companies and wealthy individuals.
The move would appeal to growing populist anger among taxpayers but is likely to open an epic battle with some major powers in American commerce.
With the proposals he outlined at the White House, the president sought to make good on his campaign promise to end tax breaks “for companies that ship jobs overseas.”
He estimated the changes would raise $210 billion over the next decade and help offset tax cuts for middle-income taxpayers as well as a permanent tax credit for companies’ research and development costs.
(More here.)
NYT
WASHINGTON — President Obama on Monday called for curbing offshore tax havens and corporate tax breaks to collect billions of dollars more from multinational companies and wealthy individuals.
The move would appeal to growing populist anger among taxpayers but is likely to open an epic battle with some major powers in American commerce.
With the proposals he outlined at the White House, the president sought to make good on his campaign promise to end tax breaks “for companies that ship jobs overseas.”
He estimated the changes would raise $210 billion over the next decade and help offset tax cuts for middle-income taxpayers as well as a permanent tax credit for companies’ research and development costs.
(More here.)
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1 Comments:
They need to do something about it. If I recall correctly the goverment looses 350 billion in taxes to this a year.
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