In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

[Penelope]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

 

[Dont Taz Me Bro]

Fix the tax code, stop making it so complex, stop carving out favors for this group and that group, and you won't have to worry about tax inversions.

 

[Dale Smith]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

Too funny, USA.INC and it's CEO Barrypuppet Obama presides over 140 TRILLION dollars in stocks and cash that use the Cayman Islands to hide much of their wealth. They are the biggest shareholders of all Fortune 500 corporations and their subsidiaries....you think that they are going to change the system? This is nothing but theater and you fell for it.

 

[Penelope]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

Too funny, USA.INC and it's CEO Barrypuppet Obama presides over 140 TRILLION dollars in stocks and cash that use the Cayman Islands to hide much of their wealth. They are the biggest shareholders of all Fortune 500 corporations and their subsidiaries....you think that they are going to change the system? This is nothing but theater and you fell for it.

It might be but I doubt it.

 

[Penelope]

Fix the tax code, stop making it so complex, stop carving out favors for this group and that group, and you won't have to worry about tax inversions.

didn't Reagan do that in the tax code of 1986 and then everyone started bitching about , esp Trump. Cruz would just kill the lower income, by that I mean under 50 grand a year, the maj of US citizens. Get rid of the Irs and send your income tax in on a postcard, he is a lunatic.

 

[Toddsterpatriot]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

One has nothing to do with the other.
You don't want companies to structure themselves to minimize taxes, reduce our highest in the world tax rates. If you want companies to stop moving their HQs, stop trying to tax worldwide income.
We're the only major economy that still does that.
Pfizer wouldn't need to hold overseas earnings, overseas, if we didn't try to double tax them.

 

[Penelope]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

One has nothing to do with the other.
You don't want companies to structure themselves to minimize taxes, reduce our highest in the world tax rates. If you want companies to stop moving their HQs, stop trying to tax worldwide income.
We're the only major economy that still does that.
Pfizer wouldn't need to hold overseas earnings, overseas, if we didn't try to double tax them.

I agree the money made in other countries should be taxed there and not be taxed again here, is that what you mean? Pfizer I read is double thinking their move now.

 

[Toddsterpatriot]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

One has nothing to do with the other.
You don't want companies to structure themselves to minimize taxes, reduce our highest in the world tax rates. If you want companies to stop moving their HQs, stop trying to tax worldwide income.
We're the only major economy that still does that.
Pfizer wouldn't need to hold overseas earnings, overseas, if we didn't try to double tax them.

I agree the money made in other countries should be taxed there and not be taxed again here, is that what you mean? Pfizer I read is double thinking their move now.

I agree the money made in other countries should be taxed there and not be taxed again here, is that what you mean?

Yes, that's what the inversions are about.

 

[Dale Smith]

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

View attachment 71362Gregory Korte, USA TODAY 3:59 p.m. EDT April 5, 2016


They acquire multiple U.S. firms in stock-based transactions over a short period of time. This increases their size and reduces the negative tax consequences of a subsequent inversion," Lew said. In other words, by structuring the acquisitions a certain way, a company can get around restrictions preventing a smaller foreign company from acquiring a larger American one.

The new rule creates a three-year window during which a foreign company would not be allowed to count newly acquired companies toward its foreign ownership percentage.

But Obama also acknowledged that his administration is limited in how far it can go without new legislation from Congress. "I want to be clear, while the Treasury Department actions will make it more difficult and less lucrative, only Congress can close it for good," he said.

Rep. Kevin Brady, R-Texas, the chairman of the tax-writing House Ways and Means Committee, said the Treasury actions were "punitive regulations that will make it even harder for American companies to compete."

In wake of Panama Papers, Obama calls on Congress to fix tax 'inversions'

You think congress will do anything, nope, I think sometimes we are better off without Texas, maybe give Texas back to Mexico before we build the rest of that fence. Maybe Cruz can become Pres of Mexico.

Too funny, USA.INC and it's CEO Barrypuppet Obama presides over 140 TRILLION dollars in stocks and cash that use the Cayman Islands to hide much of their wealth. They are the biggest shareholders of all Fortune 500 corporations and their subsidiaries....you think that they are going to change the system? This is nothing but theater and you fell for it.

It might be but I doubt it.

Nope, 100 percent theater. USA.INC doesn't need one dime of our tax money, property, state or Federal. It makes more off of dividends in a year than the entire GDP of the private sector. They move their wealth around in offshore accounts and /or re-invest it. They own Wall Street and they have been buying up stocks in Asian and European markets as well...so much to the point that they have had restrictions put on them to prevent them from totally taking those markets over. We have been totally scammed. It's all in the CAFR (Comprehension Annual Financial Report). You think USA.INC should release one of their subsidiaries (Texas.INC) but Texas alone brings in over a TRILLION dollars and that's just the states. That doesn't even include the subsidiaries of Texas.INC like cities,towns and counties that are also incorporated. The CAFR is the holy grail of information when it comes to finding out the wealth this corporate entity is hanging onto and they certainly don't want people to know this. Check it out yourself ...go to cafr1.com