Obama Calls Out American Companies For 'Gaming The System'

[boedicca]

I'll take this seriously when Obama also calls out Bill Gates, Warren Buffett and his SV buddies who have shielded their wealth in charitable trusts from which their children and heirs will draw huge salaries until the world ends.

 

[Darkwind]

The fact that the Idiot-in-Chief can make these kinds of ridiculous arguments, says more about the morons who listen to him, than it does about him.

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

They are no more dodging taxes than a poor welfare recipient who claims the 6,500 dollar exemption on their tax form.

I find it amusing that the progressives speak in terms of voters voting their own interests and utilizing programs that benefit them, yet wish to deny the same rights to people who own and run companies.

If you actually think that this is a practice that should be stopped, then by all means, write law that stops it. But write a law that stops it for EVERYONE!

 

[boedicca]

Obama and the Dems controlled Congress and the legislative process for two years. They could have reformed the tax code during that time (instead of birthing the ObamaCare Obamanation)...but they didn't.

Instead, we now see those who follow the law as written being called Unpatriotic merely because they are acting in their own interests instead of Obama's personal ones. It's incredibly unseemly and frankly unamerican to see President behave in such a way.

 

[Discombobulated]

The fact that the Idiot-in-Chief can make these kinds of ridiculous arguments, says more about the morons who listen to him, than it does about him.

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate. In fact they all get huge tax breaks courtesy of middle class tax payers.

 

[kwc57]

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate. In fact they all get huge tax breaks courtesy of middle class tax payers.

As do the 47% of Americans who pay no Federal income tax. What a sweet deal.

 

[LogikAndReazon]

That's what the community organizer does best...beg for dollars

 

[Discombobulated]

so you also believe that companies don't dodge taxes as much as possible?

There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate. In fact they all get huge tax breaks courtesy of middle class tax payers.

As do the 47% of Americans who pay no Federal income tax. What a sweet deal.

Which has exactly what to do with what I'm talking about?

 

[SAYIT]

There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate. In fact they all get huge tax breaks courtesy of middle class tax payers.

As do the 47% of Americans who pay no Federal income tax. What a sweet deal.

Which has exactly what to do with what I'm talking about?

Who knows what you are talking about? WTF is this supposed to mean:
"There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate."

 

[SAYIT]

unfortunately for us
these morons like the op votes

so you also believe that companies don't dodge taxes as much as possible?

They are no more dodging taxes than a poor welfare recipient who claims the 6,500 dollar exemption on their tax form.

I find it amusing that the progressives speak in terms of voters voting their own interests and utilizing programs that benefit them, yet wish to deny the same rights to people who own and run companies...

In which case they aren't progressives at all but rather regressives.

 

[healthmyths]

The fact that the Idiot-in-Chief can make these kinds of ridiculous arguments, says more about the morons who listen to him, than it does about him.

so companies don't do this?

DUH!!! Of course they do! AND FOR GOOD cause!
Highest corporate tax rate in the world.



If there was a moratorium on the tax rate.. even 10% of the $20 trillion offshore coming back would increase the INFRASTRUCTURE tax revenue...

"Tapping companies is inefficient: firms pass the burden on to others. Better to tax directly those who ultimately pay—whether owners of capital, workers or consumers. Nor do corporate taxes raise much money: barely more than 2% of GDP (8.5% of tax revenue) in America and 2.7% in Britain. Abolishing corporate tax would create its own problems, as it would encourage rich people to turn themselves into companies. But a lower rate on a broader base, combined with vigilance by the tax authorities, would be more efficient and would probably raise more revenue: America, whose companies face one of the rich world’s highest corporate-tax rates on their worldwide income, also has some of the most energetic tax-avoiders.

These reforms would not be easy. Governments that try to lower corporate tax rates will be accused of caving in to blackmailing capitalists. Financial centres and incorporation hubs, from the City of London to Delaware, will fight any attempt to tighten their rules. But if politicians really want to tax the missing $20 trillion, that’s where they should start.
Tax havens: The missing $20 trillion | The Economist

 

[kwc57]

There isn't a single US or multi national corporation that pays anywhere close to the corporate tax rate. In fact they all get huge tax breaks courtesy of middle class tax payers.

As do the 47% of Americans who pay no Federal income tax. What a sweet deal.

Which has exactly what to do with what I'm talking about?

If you aren't bright enough to understand how they compare, you probably shouldn't be posting on a political forum. Just this once, I'll splain it to you Lucy. Both the corporations and the 47% who pay no federal income tax do so courtesy of the middle class tax payer. See how that is exactly the same as what you were talking about now? Your name fits you well.

 

[Lakhota]

Looks like Obama is getting ready to drop the hammer on tax dodging corporations. Good.

Obama Seeks Executive Ways To Limit Tax Inversions

 

[bripat9643]

Looks like Obama is getting ready to drop the hammer on tax dodging corporations. Good.

Obama Seeks Executive Ways To Limit Tax Inversions

According to the Constitution, only Congress has the power to tax.

Of course, neither you nor Obama give a damn about what the Constitution says.

 

[Politico]

Easy fix----Obama could just sign another EO. Why not ?

That.

 

[kwc57]

Looks like Obama is getting ready to drop the hammer on tax dodging corporations. Good.

Obama Seeks Executive Ways To Limit Tax Inversions

Yessssss, because there is noting like biting the hand that feeds you.

 

[bendog]

This issue illustrates Obama's incompetence more clearly than anything, because while the gop is beyond reason on a variety of issues as well, the gop has no effect on this one. The purpose of a corporation is to maximize profits for its owners. There's no morality or patriotism involved. (Which is why Citizens United is in reality simply a political move by the Court to achieve policy results favored by five republicans; that is Citizens United really has nothing to do with corporations having a right to political speech.)

But Obama's response to a corporation doing what it is SUPPOSED to do, is to give it a stern tongue lashing in a teaching moment. We could alter tax laws to remove the reason for the inversion. But Obama is not going to go there. Because paying taxes is patriotic.

 

[kwc57]

This issue illustrates Obama's incompetence more clearly than anything, because while the gop is beyond reason on a variety of issues as well, the gop has no effect on this one. The purpose of a corporation is to maximize profits for its owners. There's no morality or patriotism involved. (Which is why Citizens United is in reality simply a political move by the Court to achieve policy results favored by five republicans; that is Citizens United really has nothing to do with corporations having a right to political speech.)

But Obama's response to a corporation doing what it is SUPPOSED to do, is to give it a stern tongue lashing in a teaching moment. We could alter tax laws to remove the reason for the inversion. But Obama is not going to go there. Because paying taxes is patriotic.

Because Obama is an elitist and "intellectual" academic who had zero practical experience about how the world really works. It's all book learning, theory and philosophy for him. It may look good on paper, but not in real life. All of his campaign and fundraising speeches are basically, "if you guys would just do what I say, everything would be peachy" speeches where he then turns around and belittles and bad mouths the exact people he wants something from. Not only does he have poor practical skills, he has poor negotiating and people skills. Don't ask Congress to send you legislation out of one side of your mouth and then talk about how lousy you are out of the other. Don't talk about how to add jobs out of one side of your mouth and then talk about how the companies who can do it are tax cheats and unpatriotic. What he keeps getting is the finger in return. He is his own worst enemy.

 

[bendog]

This issue illustrates Obama's incompetence more clearly than anything, because while the gop is beyond reason on a variety of issues as well, the gop has no effect on this one. The purpose of a corporation is to maximize profits for its owners. There's no morality or patriotism involved. (Which is why Citizens United is in reality simply a political move by the Court to achieve policy results favored by five republicans; that is Citizens United really has nothing to do with corporations having a right to political speech.)

But Obama's response to a corporation doing what it is SUPPOSED to do, is to give it a stern tongue lashing in a teaching moment. We could alter tax laws to remove the reason for the inversion. But Obama is not going to go there. Because paying taxes is patriotic.

Because Obama is an elitist and "intellectual" academic who had zero practical experience about how the world really works. It's all book learning, theory and philosophy for him. It may look good on paper, but not in real life. All of his campaign and fundraising speeches are basically, "if you guys would just do what I say, everything would be peachy" speeches where he then turns around and belittles and bad mouths the exact people he wants something from. Not only does he have poor practical skills, he has poor negotiating and people skills. Don't ask Congress to send you legislation out of one side of your mouth and then talk about how lousy you are out of the other. Don't talk about how to add jobs out of one side of your mouth and then talk about how the companies who can do it are tax cheats and unpatriotic. What he keeps getting is the finger in return. He is his own worst enemy.

To be fair, Dave Camp proposed a tax restructuring months ago that would have alleviated the tax advantages of inversion, and it went nowhere in the House with his own party.