President Obama is proposing raising more than $100 billion in new taxes from American businesses by limiting their ability to defer tax on profits earned abroad. The President believes that by penalizing them, U.S. companies will have more incentive to keep jobs in the U.S. rather than shipping them overseas. Of course, that isn’t how it works. In fact, this proposal could put U.S. companies out of business, by putting them at a competitive disadvantage to their international counterparts. But this is all pretty complicated, so watch this video, courtesy of The Tax Foundation, for an easy two-minute explanation.
[youtube]http://www.youtube.com/watch?v=hapfclt6mFY[/youtube]
This was a very good explanation. I thought that we were just victims of "greedy" business!
What the heck has anyone ever done to the president for him to intentionally and deliberately destroy the lives and businesses of this country?
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Great Information. To bad that the mainstream media will never share this information with its viewers.
This is what happens when we elect people to represent us who never in their lives, have actually worked in "Private Enterprise." Never worked for nor ran a private business. Never had to fill out their own taxes! You can only harvest what you plant, so what is it you expected?
Start to think America, start to think!
Hozro
Don't you know…All socialist/communists want control over the very things they can't control.
In the OLD days we called it GREED.
In response to Barb-mm, when she asks what the heck has anyone ever done to this president for him to destroy America. Easy. He wants the wealth of this country returned to its RIGHTFUL owners, i.e. those who have achieved nothing. In Obama's view, those of us who have accummulated some money or property did not do so through hard work or delayed gratification. No-o-o-o. We STOLE it from those less fortunate than we are. Now it is payback time in the Obama world. By penalizing achievers, he will ruin our economy, (Can anyone say "Great Depression?") ignore the Constitution and scrap the few freedoms we have left. (Can anyone say "Communism?")
Why do we allow this?
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