President Obama to Call for Tax Changes for Corporate Tax-Avoiders, Out-sourcers

If caught they only pay 10 cents on the dollar which means it paid to steal. This is based on case law and the corporations already know about it.

Go Obama! This is why WE LOVE YOU!

This is long overdue, however it will be hard to pass the law in the House and Senate. Why? Because alot of these same politicos have stock in these companies, and get a great deal of campaign monies also.

Obama continues to keep his campaign promises but in measured reasonable ways. It is so refreshing tohave a prgmaic leader again that is focuses on doing the right thing for America – not just wealthy or right wing supporters.

dresdren; sounds like Protectionism? How do you get Corporations paying there fair share and investing in jobs here in America is Protectionism or are you one of those globalization evangicals proclaiming how good shipping US jobs overseas is good for America? You see where Globalization has brought the world? systemic globalizied financial havoc!

OBAMA charges taxes on profit earned overseas, so now he want to charge the tax but disallow deductions? This is populist logic which makes no sense whatsoever and is designed to fool his supporters into thinking that he is doing something good. It is amazing, they are actually believing this stuff.

Oh yeah, how about going after our “on-shore” tax cheats like Geithner, Daschle etc.

Congress writes tax code. So all hope of a coherent set of corporate tax laws is forever lost. The existing unenforceable laws will be replaced by even more unenforceable laws. Lobbyists and tax attorneys will not only read the bill, they will write big chunks of it. Congress will vote for a tax bill they haven’t even read, and can barely understand. And large corporations will remain free to not only outsource jobs, but relocate overseas when conditions here become bad (Philip Morris, the old Arthur Andersen). So I don’t think anything will improve, and talk is cheap.

Anyone opposing this is either a company benefiting from existing tax loopholes or someone that is part of the Party of No, opposing, uhm, whatever, and offering, uhm, nothing except protection for the very rich and government intrusion into personal choice.

Taxing corporations which send jobs overseas to avoid taxes and set up tax havens. What an unRepublican idea! Thank God for Barack Obama. This is exactly what should be done.

Good mainstream policy and good populist policy. The GOP will find a way to slam this, however.

“Maybe this will make it profitable for these major players to bring those outsourced jobs back to the United States where they belong”.
Exactly what makes you think this? I am guessing you’ve never run or owned your own business.
This will simply drive more corporations overseas completely.

“Thank God for Barack Obama. This is exactly what should be done.”
It is, huh?
These profits make up for the large differences of costs here vs in China. These profits make it possible for US companies to survive.
These profits make up for the large differences in corporate taxes here vs abroad.
Just watch what this does to jobs.
Corporations are not in the business of guaranteeing you a job. No left wingnut ever seems to understand that. They are in the business to make money.
None of you buys all-American products because it would cost you more.
China and India are going to kill us because we cannot compete with them on a cost basis.
So many of you are simply class warfare idiots who do not understand the first concept of the operation of business.

“I want them reduced to nothing. I then want to run into their wives and laugh at them then as they whine about shopping at walmart for clothes.”
That’s nice, Lynn.
Only you won’t be shopping there either as you won’t be able to afford it.
Lynn furnishes us an example the essence of the left- class envy hatred. This is a sickness.
Someone has to pay the taxes, Lynn. Someone has to pay the taxes that you don’t pay and someone has to do the work that you don’t do.

This thread is replete with class envy. It bursts with class envy. It drips hate.
It’d be nice if some of the posters here went out and made their own companies and ran them the way they think it should be done.
Instead, all they want is to see more damage done to the remaining bits of US industry.
Sorry, but you people are mentally ill.
How many of you ever created a job?
None. Absolutely none.
You think that others OWE you a living or that Barack is going provide you a living at the cost of others.
Margaret Thatcher said that the problem with socialism is that eventually you run out of other people’s money.

“President Obama wants to stop tax cheats while Republicons want to create them. I am so happy that we Americans can finally be proud to call ourselves Americans again.”
What about all the tax cheats Obama hired for his administration?
They’re ALL tax cheats!
Geithner cheated on his taxes to the tune of $42,000!
Sibelius- $7000.
And you’re proud of this?

Obama’s stimulus bill GUARANTEED AIG bonuses.
Obama is not watching where the TARP money is going!
That is what you should be concerned about.

drjohn:”What about all the tax cheats Obama hired for his administration?
They’re ALL tax cheats!”
Can you cite a SINGLE nominee that violated any of the tax laws mentioned here? If not, then your petulant rant is entirely irrelevant.
And when you say “they’re all tax cheats” it makes you look horribly ill informed. He’s appointed or hired hundreds of people and you can count the number in his administration with tax problems on one hand. I guess for your two minute hate that qualifies as “all.”

drjohn:”Obama’s stimulus bill GUARANTEED AIG bonuses.”
Actually, IT SEVERELY LIMITED OR BANNED ALL FUTURE BONUSES. But that’s just, you know, reality so I doubt you care about that. You’re bitter that it did not retroactively ban past bonuses (that would have landed in a messy court fight about the legitimacy of executed contracts). Actually, I suspect you’re just having fun spewing hate about Obama.

” calls for 800 new federal tax agents to enforce the system.”…are these just to investigate his ‘Staff’

daniel:”And it will not work, because companies can move their incorporation to other countries on a whim.”
Not really. If they want to take advantage of this nation’s infrastructure, work force, and massive business contract apparatus – and they do – then they have to play by this nation’s rules. I have trouble finding a push to properly enforce current laws as an attack on business. It levels the playing field for all the businesses playing fair. And most small business does; an office of a hundred people does’t set up a shell corporation in the Cayman Islands to launder their profits through.

Obama need to clean the democrats up first. They seem to be the ones cheating. I have decided everyone in his administration are crooks.

Posted by: talmag | May 4, 2009 9:34:59 AM
He had no intention of paying those taxes even though he took the money to pay for them.
Until he got caught.
He paid no penalties. That’s crap. None of us in business could have pulled the same stunt and gotten away without penalties and THEN become Treasury Secretary.
But you guys don’t mind the malfeasance as long as it serves your purposes.

I pay my taxes and the small company I work for also pays every cent they owe. I am appalled that Republicans apparently want to stand with the companies and people who are BREAKING CURRENT TAX LAW to avoid paying their share. And trotting out an appointee who lost receipts for deductions or didn’t pay taxes on income they never received a 1099 for is a pathetic way to attack an effort to enforce current law.
“In a $780 million settlement earlier this year, UBS admitted that its bankers helped Americans evade US taxes through tax havens in the British Virgin Islands, Hong Kong, and Panama, from 2000 to 2007.”
Good job Obama and keep it up.

“Can you cite a SINGLE nominee that violated any of the tax laws mentioned here? If not, then your petulant rant is entirely irrelevant.”
What a stupid canard.
This thread is all about tax avoidance.

“Everyone is missing the point, and that is if Obama pressures big industry to pay extremely high taxes, many will forfeit their American Citizenship and move everything over seas. Look at our imports from China. ”
And that is their choice. Why they would rather live in china for profits (what the chinese don’t tax their citizens or businesses?????) makes for a pretty weak American citizen in the first place. You seem to think very little of your countrymen. Do you not think others will be innovative, that new industry is not formed on a regular basis. Sure the whiney may opt to stay static for irrational fears, but there are many who move forward with their dreams, plans, goals to pursue the American Dream. That is what makes this country great.
BTW, corporations are not a person, so cries of class warfare are misguided. Yes, some corporations are led by extremely greedy self serving people, but not all corporations are. Some leaders of industry do pay their fair share so these loophole closures will not effect how they do business, and will in effect make it more fair for those who play by the rules, rather than those who look for ways to enrich themselves at the expense of decent taxpayers.

Obama, Biden and the entire staff of this President do a lot of talking and they remind me of a self rightious person telling people how to live when they live like the devil themselves.

China is the shining example of a twenty-first century nation. The politics of unbridled capitalism has become a dead horse. It is time to move on. But, I do understand why so many are mourning the loss.

drjohn…I don’t think you are really FOR stopping the tax cheats. You obviously support them or you wouldn’t be so adamently AGAINST Obama efforts to stop them. You simply want divert focus away from the problem by bringing up the fact that two members of his cabinet were delinquent in paying their taxes. It kinda reminds me of those Republican extremists who wanted to impreach Clinton for lying about his affair. As far as I’m concerned, I’m more interested in JOB PERFORMANCE than some petty stuff used to bring down a government.(Republicans are good at that.) Obama is the first and only President I feel completely comforable and SAFE with. I look for to the next eight years with a great deal of OPTIMISM!

Wall Street doesn’t care about this. They are using TARP cash to prop-up the DJIA and they are getting rich with free money from the taxpayer.

I love the way Obama and Pelosi are fighting corruption and bringing a new type of politics to DC.
By “new” they must mean crooked politicians that have their very own media as a partner.

Must just be corporations Obama is going after. He would never do anything to upset the Kennedy’s off shore tax havens. Your trusts are safe.

I luv this guy!!!

Ireland has been picked as the country most likely to follow Iceland into default. With GDP dropping 10%(!) in a single year, they have been forced to raise taxes. Capital Gains Tax and Capital Acquisitions Tax is being increased 25% and the income levy is being doubled and the threshold levels for the higher brackets lowered.
Ireland is the current poster child, second only to Iceland, for how an unfettered free market can destroy a country.

jhw
Do you take any deductions on your tax return?

Posted by: Axey | May 4, 2009 9:54:49 AM
Geither was President of the NY Fed.
A corporation.
His job was to watch CitiGroup.
He did such a great job at that that they made him Treasury Secretary.

=====Public Enemy #1 for barry: American’s who have achieved (ie Republicans). =====
Actually, some of the richest people in America are democrats. Obama is playing class warfare. Chavez did too. If one reads about Chavez and class warfare that brought him to power and has allowed him to remain in power, you’d notice the similarities. If you cared. The funny thing that newspaper, tv journalists should know, and apparently are uninterested in, was the takeover by the Chavez government of all media outlets. I guess being paid by the government to report what they are told to report is better than being not paid by the government to report what they are told to report. Our esteemed host excluded. Tapper rocks!

drjohn,
Yeah, but it was his personal taxes that he cheated on, as far as we know.

It’s ironic that the taxes Geithner cheated on were for monies earned overseas.

Posted by: Axey | May 4, 2009 9:54:49 AMThe title of the thread is “Corporate Tax-Avoiders…”. As luck would have it, that excludes the Treasury Secretary, since he is an individual and not a corporation.
Yes, CORPORATE Tax-Avoiders. There is a big difference between an individual who makes mistakes on their taxes and corporations (and also individuals) who overtly seek means to hide their assets by opening bank accounts in foreign countries. You might have a valid claim against Geithner if he had taken the money and opened an account in the Cayman’s. That would show intent to avoid paying taxes. That is not what was done. If you are not able to tell the difference, then perhaps an age old wisdom might apply to you.
Any fool can criticize, condemn and complain and most fools do. ~Benjamin Franklin

“…they have been forced to raise taxes. Capital Gains Tax and Capital Acquisitions Tax is being increased 25%.”
I love that–they were “forced” to do it. Just like California was forced to do it, with the resultant huge net migration to neighboring states.
Bill Clinton and the GOP congress wisely cut the cap gains rate in the US, and the result was a huge increase in the revenue from that tax, and increased production as the flow uf capital became less restricted.
Obama has acknowledged that he wants to raise the rate even if it means a net loss of revenue. What does that tell you?

“You might have a valid claim against Geithner if…”
You mean there’s no valid claim against him if he merely cheats on his taxes, so long as he spends the money here?
Obamanomics in a nutshell…

When Al Franken comes to DC there will be a complete set of clowns.
He should fit in perfectly.
Can’t get any funnier than a tax cheat in charge of the IRS.
And BO thinks that is just fine.

chris, you didn’t finish your statement,
Public Enemy #1 for barry: American’s who have achieved the abuse of tax loopholes (ie Republicans).

Yes…drjohn…I read the article. DID YOU?
OK, then that makes all of you liars who keep calling these corporations “tax cheats.”
They’re not.

drjohn:”It really makes no difference. Geithner is a tax cheat and any of us would have paid dearly for doing what he did.”
It is a lie to say “any of us would have paid dearly…” He was treated EXACTLY the same as anyone else would be, required to pay back taxes plus interest and penalty.
Why do you require LIES to promote your radical anti-America (the Constitutional government is flawed and evil!!!) views?

====”You know there’s a building in the Cayman Islands that supposedly houses 18,000 corporations,”====
Yeah, supposedly. Supposedly, there are one or two that house Kennedy trust accounts.

WOO HOO, been waiting for this for a long time. You are on notice, corporate America. Contribute to the wealth and prosperity of the American workforce, or pay up. Hallelujah!! Finally a president who is willing to take this on when he is IN office, not just running for it. This should have been addressed many years ago, and both parties know it. I just hope our elected officials show more backbone than usual here in getting this accomplished, and don’t allow the corporate lobbyists to dilute, delay or otherwise impede this desperately necessary course of action.

AND from McClatchy:
“Documents that the Senate Finance Committee released suggest that Geithner also failed to pay a penalty tax for withdrawing money early from a federal retirement account.
There’s a 10 percent penalty for doing that, and it’s advertised up front for tax-deferred retirement accounts. This is as basic as it gets in the world of personal finance.
“I don’t understand how the 10 percent withdrawal penalty could have fallen through the cracks. That’s just a red flag,” said Peter Sepp, spokesman for the National Taxpayers Union, a group that lobbies for simplifying the U.S. tax code.”

jhw
Interest is not the same as penalty.

Now if we could only get BO to crack down on the hiring of tax cheats to his administration, he might might make himself seem a bit more relevant.

In a townhall meeting last month, Obama said his policies would NOT bring jobs back to America. Therefore he knows that his policies will further weaken the middle class. All he is doing is accelerating job transfers. Accelerating them out to China. Its common sense, destroying businesses will destroy jobs. Obama doesn’t care, all he wants is to win elections, but they are tired of all the campaigning, so its best for them to have a dicatorship. THat’s OBAMA and the democrats. They really never cared.

“My country doesn’t seem lazy when you look at the numbers – as in most areas, in reality it seems to be the best in the world.”
And this is what you and Obama want so desperately to change.
Way to go.

Limbaugh will be crying fowl on this one.

This is nonsense… Is Delaware the biggest state in the US? How many corporations are established in Delaware? For the same tax advantages… I don’t see anyone complaining about that. Obviously you all are not aware of AML requirements and due diligence in the Cayman Islands. US persons can not invest in hedge funds domiciled in Cayman. It is also harder to open a bank account in many of the offhsore jurisdictions than in the US (I know this from personal experience). This is nonsense, and if the US senate takes the time to learn something about the Cayman Islands and offshore jurisdictions, it would serve them well, and maybe they can teach some of the ones with the stupid ignorant comments here. Learn something about the Global economy and finances before you respond to this!

“Actually, seeing as how he paid back taxes so old he had no legal obligation to pay them, he was held to a higher standard (just like Selibius who not only paid to audit *herself* but also paid up even for lost receipts).”
Tell me you’re kidding.

“The IRS caught it a couple years later and all penalties (other than that nasty interest rate) were waived by default.”
Waived by “default”? If it was “default” it would not be there.

As for laziness, in most of the rest of the first world there is a minimum of 4 weeks paid vacation plus a couple weeks of holidays
===========
I don’t think American workers are lazy.
But we aren’t just competing with Europe any more.
In Hong Kong, for example, the work week is 6 1/2 days.

Which corporation mudered someone? Tax avoidance is akin to murder?
You’re getting weird, man.
I would not tolerate my kids stealing a penny, let alone a dollar. Maybe that’s the difference between us. You must tell your kids that stealing a little is OK, but stealing a lot is not.

This is one time i agree with Obama. The tax cheating corporations who build overseas and bring the product back here to sell for the same cost needs to be busted. Telephone cell companies need to bring the service / operator jobs back to the states. Especially from countries that are down on us like Pakistan and India.

Jake
Would you plase ask Gibbs why Obama chose to ignore bankruptcy law and reward a junior creditor over a senior crditor? If the President can ignore the law at will, to whom does he answer?
Thanks!

Bottom line is the percent of taxation per GDP. Here are a few according to OECD. U.S. 28.2%, Switzerland 30.1%, Australia 30.5%, Canada 33.4%, Ireland 34%, Russia 36.9%, Spain 37.3%, Brazil 38.8%, United Kingdom 39%, Germany 40.6%, Italy 42.6%, Sweden 49.2%. Percent of GDP is what you, the citizen pay to live in that country, so what country would you prefer to live in? While there are many countries that have a much lower tax rate per GDP, all the way down to 1.4% in Saudia Arabia, there’s only one catch. You have to be a naturalized citizen of that country. Many of the countries that offer lower tax rates and tax shelters are great for the corporation and the few who control them, but many countries have a value added tax that basically screws the citizen. The tax loopholes that President Obama wants to close have allowed many corporations to escape paying zero tax. KBR is an extreme example whereby it set up two basically legally fraudulent (for want of a better word), headquarters in the Cayman Islands, which employed American workers to work in Iraq and other foreign countries. As employees of a foreign corporation KBR escaped paying social security, medicare and unemployment taxes in the United States, thereby saving the corporation billions of dollars. Closing the loopholes that have allowed this corporate welfare is just a start, and I hail the move by Obama to tackle the ones who have made this corporate welfare possible, but the entire complex tax system in the United States has got to be overhauled. Since the Bush tax cuts, median family income in the United States fell by nearly $1000.00 annually, and moved more than 4.9 million families to the poverty level. The effect this corporate welfare and tax cuts have created is the movement of huge hordes of capital moved off shore and not re-invested in the United States. While the top 1% reaped hordes of cash and became wealthier, the remaining 99% have largely taken a nose dive. The only fair and logical move would to be institute “The Fair Tax Act of 2009″. This bill, which happens to be the only good proposal coming from Republicans since Reagan and his failed “trickle down” economy would level the playing field. It would make corporate taxes fair and more attractive for foreign corporations to locate here, it would lower taxes overall while adding millions to the tax roles who escape paying taxes now. Why don’t you “tea party” radicals who are upset for the wrong reasons, spend your efforts and energy advocating “The Fair Tax Act of 2009. Legislation that will move the U.S. in the right direction.

Especially from countries that are down on us like Pakistan and India.
====
India is most certainly not “down on us”.

Whatever will be, will be, as long as America keeps, in some form the present tax code, which to begin with, is completely and absolutely unconstitutional, and which with each “reform” from party to the other, has heretofore only made the likes of H&R Block prosper even more, plus making it even better and easier to “cheat”, as even the folks at the IRS cannot really figure out what is up. As I looked into some of to the already comments, there is fire flying back and forth, while ignorance is so evident. Please forgive if any commentator has asked for the burial of the present tax code as the only solution and install, what reveals the truth indeed. Yes, to the pleasure of the Founding Fathers plus, those of us who are awake to reality!

Lydia,
If it is a good thing, why not implement it now instead of delaying it till 2011?

It is the tax cheaters with the tremendous help from the Republicans who are hurting the USA. Go get them President Obama, but can you get them sooner thatn 2011? Stop those jobs from going overseas, but if they do tax them.
Citizen Jane don’t thank God for you gettig rich, thank the greedy Republicans, who would not help anybody else but themselves.

=== Go get them President Obama, but can you get them sooner thatn 2011?===
No, he can’t do it sooner because it will cost jobs.

drjohn
re”If the President can ignore the law at will, to whom does he answer?”
if your using ‘signing statements’ like old ‘W’ you write the law as you go along depending on what day it is….

Do you all realize that the United States is the ONLY country in the WORLD that taxes their citizens on world wide income? Does that really make sense?

“if your using ‘signing statements’ like old ‘W’ you write the law as you go along depending on what day it is….”
If you think that’s wrong then you can explain why Obama does it now.

First rule: Corporations do not pay taxes. Consumers do. If the government raises taxes on corporations then the corporations will raise the cost of their products to the consumers. The net effect is that the consumer is the one actually paying the increased corporate tax although the government is receiving the money from the corporation. Ideally the corporate tax rate would be low resulting in cheaper goods to the consumer. With cheaper goods the consumer would purchase more causing the economy to grow.

===First rule: Corporations do not pay taxes. Consumers do===
+1

“Wrong! If the govt gives a hand up to a poor person and that person starts to pay taxes and becomes a productive US citizen – is that person still worthless?”
NOTHING that Obama has done will do anything to create jobs. What he has done is to incentivize not working. His “stimulus” actually rewards states for adding to welfare rolls. It increases the number of “worthless” people.
At least FDR made people work for their money. Obama knows that he’ll be better off making sure you get paid for doing nothing.

“Obama is a free trader.”
????
He took ownership of Chrysler and plans to take a large ownership of GM. He has a piece of BofA and won’t allow banks to pay TARP money back.
A free trader would have allowed the auto companies to enter Chapter 11 months ago and NOT interfered.
He gave Chrysler to the unions.
That’s anything BUT a free trader.

Devilkev, you had me right up until “The only fair and logical move would to be institute “The Fair Tax Act of 2009″.”
The Fair Tax act is anything but fair, and gives the greatest tax burdon on the lowest economic members of society. Being based on sales, those who live check to check would proportionately pay more than those who have more money then they can spend. If it’s not spent, then there is no tax. Thus if someone who has 500million income and only spends 1 million/year, than they have 499 million untaxed income, while the minimum wage earner would be taxed on all of their income because they don’t make enough to not spend it all. Does that sound fair to you?

Obama is an international free trader meaning he doesn’t believe in import tariffs or protectionism. This means that the jobs are going overseas.

Best news since finding out Bush could not run for a 3rd term, It’s about time these mutts start paying their fair share of taxes, I’m happy to see that president Obama has kept his promise to reward companies that create American jobs and punish those that offshore & outsource, we will emerge from this a stronger and better country in end.

Axey:It’s ironic that the taxes Geithner cheated on were for monies earned overseas.
==========
It’s super ironic because the taxes he cheated on were for monies being paid to him to mimic the effect AS IF they were earned overseas, but in reality were earned here at an organization given special tax reduction rules in order to attract it and workers to the US.
(Luckily there is no tax on run-on sentences)

Can you see the rich finally getting forced out of this country.the poor just talk because they’re stupid.the rich, with all that stolen money will have to find another way to hide.the poor who will never really understand,(mostly people in the south),they just follow.

This is just another socialist way…..Obama is going to go after those that don’t support him and his socialism and attack their money while his idiot crookied tax fraud friends like Geithner and Rangel will never be attacked (since they tow the socialist party line.)

====It’s about time these mutts start paying their fair share of taxes, ====
Corporations don’t pay taxes. Consumers do. It is factored into their cost of doing business. Get ready to pay more for everything.

====here all of their citizens recieve free education and healthcare===
Free this, and free that. Nothing is free. Someone is paying for it.

The beatings will continue until morale improves. Chicago logic.
The United States has some of the highest corporate taxes in the world. Is it any wonder that a lot of corporations move their operations overseas to countries that are more corporate friendly? Obama’s answer? Raise taxes. That’ll make ‘em stay.

Obama is not taxing corporations. He is only making them pay money that they have not been paying by using tax loop holes.
That will make them create jobs in America instead of shipping them away.

PresGov,
Obama’s brilliance confounds you supporters of the party of voodoo economics and unjustified wars(Republican party)and I am loving it..you Republicans are frustrated because Obama is right most of the time and 70% of Americans support him. The socialist stamp is not working..can’t you tell by now? Obama is doing a great job! OBAMA WINS AGAIN!

Axey wrote
“====social security is a basic tenet of Socialism====
And here I thought it was an insurance payment. Oh well. One step closer when there are some who admit he is moving us towards “socialized democracies” where everything is free.“
—————————————-
That means we were already practising socialism but you were lied ti that our system was extreme captalism. Got it?

===That means we were already practising socialism but you were lied ti that our system was extreme captalism. Got it?===
Yeah, I’ve got it. I know what stacked courts mean.

Reading through the responses on this blog indicates that it’s a refuge of sorts for extremists. Fortunately, they’re no indication of the actual direction of the counrty.

Axey because Obama has said he wants the tax session to expire first.
Now let me educate you. Fact is trickle down economics doesn`t work. If it did, the wealthy and corporations would not have shipped jobs overseas when Bush gave them those tax cuts.
Even with those tax cuts we saw American jobs shipped away within the last 8 years than any point in time in our history.
Thats a fact.

citizenjane: Obviously you haven’t read the “Fair Tax Act of 2009″. If you had you would have seen that the “prebate” offered under the Fair Tax Act wipes out any tax for those low income people who fall at poverty level or below.

March 27, 2009:
‘And it probably wouldn’t be good for our economy for a bunch of these jobs to come back because, frankly, there’s no way that people could be getting paid a living wage on some of these jobs – at least in order to be competitive in an international setting.’
… ‘our economy – if it’s dependent on low-wage, low-skill labour, it’s very hard to hang on to those jobs because there’s always a country out there that pays lower wages than the US.
‘And so we’ve got to go after the high-skill, high-wage jobs of the future. That’s why it’s so important to train our folks more effectively and that’s why it’s so important for us to find new industries – building solar panels or wind turbines or the new biofuel -that involve these higher-value, higher-skill, higher-paying jobs.
‘So what we’ve got to do is create new jobs that can’t be outsourced,’
==========================
He acknowledges these jobs do not belong in the US. Why is adding new taxes to them “fair”?
Allowing other countries to grow through trade and job investment is much better than collecting tax on jobs created there and then providing aid.

Maybee,
Obama said SOME of these jobs not all of these jobs will not come back. Stop misrepresenting facts.
And is that the reason why corporations should be cheating when it comes to paying taxes? And you keep complaining about Geithner?
Hypocrites.

MR. PRESIDENT :
Take care of the TAX CHEATS in your cabinet first then pounce on American Business and their cheats.
LEAD BY EXAMPLE!!

====The money you are paying into social security is used in paying people who are retired now. The money your grand children will be paying is what you will get when you retire. It is assumed thatthere will always be people paying money into social security. This is so SOCIALIST.====
Sounds like Bernie Madoff’s scheme to me.

” Now let’s see if he can close those infamous tax loopholes enjoyed by the oil companies…”
And then let us see what happens to the production of oil, and the price of gasoline. (My guess is that fully a quarter of the people who show up at this site will think that production will increase and the price will go down.)

“It is a paradoxical truth, that tax rates are too high today, and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the tax rates.”
–John F. Kennedy

Makes sense, the idiot is hell bent on raising the costs of doing business, just wait until the idiot’s energy schemes are implemented.
The idiot-in-chief calls it a “tax scam”… It’s currently LEGAL idiot.
———————–
Yes it’s legal, implemented by the previous Pres and his buddies to hide & make more money! In your world shipping jobs overseas had nothing to do with the place we find ourselves in now, right? How come you can’t make a point, a weak one, but a point without name calling? So childish!

You’ll note he didn’t make this tax announcement at one of his corporate backdrops like Caterpillar.

“President Obama to Call for Tax Changes for Corporate Tax-Avoiders, Out-sourcers “….. Great, Put Charlie Rangle in charge!

jhw539 wrote: “And when you say “they’re all tax cheats” it makes you look horribly ill informed.”
Based on President Obama’s definition of a “legal tax break,” every American citizen who itemizes in order to get a “legal tax break” is a tax cheat. It’s just too bad that our Economy will have to suffer just so that you Left Wing Hacks can experience just what it is that Dr.John is saying.
Off to china you must go wrote: “Then I say good riddance.”
Be careful what you wish for! You do understand that when a corporation leaves the United States they take ALL of their jobs with them! That also means that states as well as the federal government lose revenue: No federal and state corporate tax revenue; no state and federal income tax revenue from individuals who are now unemployed OR who relocate with the corporation; no state (and city) sales tax revenues from individuals who are now unemployed OR who relocate with the corporation.
President Obama should look at what has happened to California starting in the late 1980s and 1990s. California passed all kinds of anti-business laws and just watched as businesses left the state in droves. NOW California has a $45 billion deficit for this year’s budget.

The era of tax cheaters is over! This is the CHANGE I voted for. Now you righties are running out of talking points. How can you in good conscience support companies who not only ship American jobs overseas but also cheat the taxpayer.

Finally – we have someone in the White House who has noticed that ordinary citizens are being short changed by big business.
American worker’s productivity has risen driving profits – unfortunately upper management has decided that all those profits should go to them and not any portion at all to us. My hours have increased and I am not paid for overtime. I’m lucky to have a job but my salary is effectively stagnant once you figure in inflation and I work 15-25% more hours a week now on a regular basis.

===Axey,
exactly. So are you Social security be abolished? You righties are nuts!===
Not sure what you are asking me. If it is should social security be abolished, the answer is probably. It is going to go the way of the do-do bird anyway.

Change is slow and painful. Obama is cleaning up washington.
Posted by: keith | May 4, 2009 1:45:25 PM
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“Obama is cleaning up Washington”,
and
I might add, while cleaning he is sweeping America under the rug.

They are so dirty, yet they want to point fingers at other people.. doing something just slightly more or less unethical than themselves..: DontGet818OnMeNow
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Would you mind posting proof and links that support your above statements? I’ll wait. Thanks in advance!

Just referring to waiving public financing and the Acorn deal.. the first being an Obama 180 degree turn, the second well, it’s of course arguable.
I said unethical, IMHO. They are too smart to do anything knowingly illegal.
Thanks for calling me on this.. glad someone pays attention.. critical observation would be welcome in the current political environment.

There has never been a better time for the FAIR TAX! The Secretary of the Treasury can’t even figure out how to pay his taxes (until he gets nominated for an Obama cabinet post).

I wonder if Obama will ever go after tax cheats in the demographics that actually voted for him.. say going after cash only and unregistered businesses? Maybe if we all paid taxes on what we earned (all earnings and gains), we wouldn’t need to worry about balancing the budget.

Try the Truth,
The proof is that it is now legal to evade Federal Income Taxes if you are a high ranking democrat in Washington. If you are fortunate enough to be named to an Obama cabinet post, you can quietly pay your taxes and move into a good, high paying job in the White House. The one time in my life that I was late paying a large tax bill ($89,900.00), the IRS told me they would garnish my wages to the tune of 94.54% until it was paid in full. Why do the same rules not apply to nearly every member of Obama’s cabinet?

Doris,
Sorry, I see Keith is a flaming liberal that blindly follows a president that no one knows anything about. When Obama finishes his “change” we will be the largest Socialist Republic in the western hemisphere.
Also, Taxes are a small part of companies sending jobs overseas. The real root problem is the cost of manufacturing in the U.S. is ridiculous due to the EPA, OSHA, DEP, unions, lawyers, medical insurance, etc. China and most of the third world have none of this to deal with and they pay employees pennies a day. I personally know small business owners that have their engine components made in China at a fraction of the cost of the ones I produce here at home.

“Also, Taxes are a small part of companies sending jobs overseas. The real root problem is the cost of manufacturing in the U.S. is ridiculous due to the EPA, OSHA, DEP, unions, lawyers, medical insurance, etc. China and most of the third world have none of this to deal with and they pay employees pennies a day.”
Right wingers are apparently upset that Americans wish to work for a decent wage in non dangerous working conditions.

Just like any virtue, the best mean is between extremes. For A and B, take governments competing with eachother or not. For C and D, take consumer benefit of cheap goods or consumer benefit of employment. For E and F take the extremes of outsourcing, which China has graciously shown us, and the extremes of socialism, where your life is pre-planned by the government and private ownership cannot extend beyond your front yard. Obviously, there is plenty of balancing that can be done, and plenty of ways to do it with caution. My only hope is that the plans and measurements of success are not being outsourced.