Businesses pan tax crackdown plan
Say proposal to close loopholes will drive jobs out of the country
By Jon Ward (Contact) | Tuesday, May 5, 2009
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“Obama’s proposal will shove jobs and capital out of America and into foreign countries,” said Americans for Tax Reform, pointing out that U.S. companies already pay a higher corporate tax rate of 40 percent domestically than in many other countries, and that forcing them to pay this rate on profits they make internationally will drive operations out of the country.
“It’s a relatively simple matter for a U.S. company with an Irish subsidiary to become an Irish company with a U.S. subsidiary,” the anti-tax group said.
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Politicians think that no one will adapt to their latest hair brained scheme.
I hope someone is keeping track of this little “project’s” results.
We should have a zero corporate tax rate. And, everyone would be moving here!
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