Ronald J. Cappuccio, J.D., LL.M. (Tax)

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Pres. Obama Attacks Businesses

| May 4, 2009 | company, multinational, tax increase

Pres. Obama Attacks Businesses

Fulfilling his campaign promise to increase taxes on US multinationals, Pres. Obama Attacks Businesses. His goal is to hamper US businesses by taxing income earned in foreign countries as if it were earned in the US. “If financial institutions won’t cooperate with us, we will assume that they are sheltering money in tax havens and act accordingly,” Obama overtly threatened Banks and businesses. Even though this creates even greater incentives for businesses to leave the US, Obama is pretending to “do something.”

What a disaster!
see: http://www.TaxEsq.com

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