- The Foundry: Conservative Policy News Blog from The Heritage Foundation - http://blog.heritage.org -
Tax Deferral 101
Posted By Rory Cooper On May 12, 2009 @ 10:51 am In Ongoing Priorities | Comments Disabled
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.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2009/05/12/tax-deferral-101/
URLs in this post:
 The Tax Foundation: http://www.taxfoundation.org/news/show/24683.html
Copyright © 2011 The Heritage Foundation. All rights reserved.