Obama to crack down on business taxes

[HBF]

Obama to crack down on business taxes
AP

By PHILIP ELLIOTT, Associated Press Writer Philip Elliott, Associated Press Writer – 1 hr 2 mins ago

WASHINGTON – President Barack Obama plans changes to tax policy certain to be unpopular with corporations with international divisions and individuals who use tax havens.

Obama's two-part plan, which he is slated to unveil at the White House on Monday, also calls for 800 new federal tax agents to enforce the system.

The president's proposal would eliminate some tax deductions for companies that earn profits in countries with low tax rates, as well as consider U.S. citizens who use tax havens in the Bahamas or Cayman Islands guilty of violating U.S. tax laws. If Obama wins congressional approval for the changes — and he faces a challenge on Capitol Hill — it could deliver $210 billion in tax revenue over the next decade...........................

Obama to crack down on business taxes











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[snortin nortin]

I say screw them like they are screwing us. If a company is or was based here but uses off-shore stuff to avoid taxes I say tell them you can no longer sell your goods & services to America, if ya can't pay your share or just plain don't want to or blatantly avoid paying,,,then get out of our country all-together.