President Obama addresses new rules to deter corporate ‘tax inversions’

by Jeffrey Thomas DeSocio
April 5, 2016

President Barack Obama is championing new federal steps designed to deter a corporate financial practice known as “tax inversions.”

Inversions happen when a big American company buys a smaller one and changes its paper address to another country. Obama calls it “insidious” and says companies do it to reduce their U.S. tax burden.

Obama commented on Tuesday, one day after the Treasury Department announced a series of steps to make inversions less financially appealing.

Obama says such loopholes make it harder to spend money to keep the economy strong. He also says they hurt the middle class because the lost revenue “has to be made up somewhere.”

He called on the Republican-controlled Congress to close the loophole for good.

22 Comments - what are your thoughts?

  • Richard Hennessy says:

    Congress should fix the absurd tax system, instead of trying to keep companies from doing what the tax system encourages them to do. It’s just like the government to create an unworkable tax system and then try to patch it with more regulations when it does exactly what it can be expected to do. The answer is the “Fair Tax”, a sales tax that is proposed to replace the income tax. Anyone who understands economics knows that companies cannot pay taxes; only people can pay taxes, A company’s sources of funds to pay “corporate taxes” are lower returns on investments (your 401K), higher prices for consumers, and lower wages for employees. Not only would the Fair Tax eliminate the annual income tax return and get the IRS off your back for good, it would also eliminate the problem of determining what is a company’s income for tax purposes. That is the problem that Obama is trying to fix with his usual solution–more business regulations.

  • Phil Esposito says:

    Does this idiot not realize they are leaving the country because he keeps raising their taxes? Reagan lowered business taxes and it stimulated the economy and more people got jobs and paid more taxes than the business were saving from the gov’t tax cut.

  • Libya21 says:

    Yep! Just one more dumb idea. Americans should demand a tax law that lets our companies bring their $$billions back home to create badly needed industrial plants and jobs. The Feds can afford to make it happen at a very low tax rate. What the hell has held them back from this? Obama’s idea is shear stupidity!

    1. cutterguy says:

      he is just watching out for us. if the jobs are not here, illegals have one less reason to come here. (just in case someone does not realize it, this is sarcasm)

  • dan says:

    What he’ll is he taking about when he gave millons to failed companies as part of his stimulation packages of 2009. A. Now he is after companies who move their headquarters overseas due to his stumped policies.

  • zoehoney says:

    Companies HAVE to hide it the rate is WAY TO high!

  • Ken says says:

    BoBo – most Voters know your boss handed you that press release – give it lip service to make it look like you are helping the Citizens. It is safe for you to suggest this because they know the majority of the House and Senate are controlled by the Establishment RINOs and DEMs as it has been for 27 years.

  • ROYSTOLL2 says:

    Why not quit trying to kill business as well as capitalism and work WITH business on lowering taxes and creating jobs. Secondly, let us get rid of all hedge funds, period, as they are parasites that live off of businesses that are having financial troubles and kill them, for a profit. Better yet, just tax the hedge fund managers at 90% as that would work as well. Start with George Soros, Obama’s financier and the leader of the attack on America.

  • po'ed in az says:

    “Obama calls it “insidious” and says companies do it to reduce their U.S. tax burden.”

    And why wouldn’t they want to reduce their tax burden? After all, they bust their collective asses, create a company, create jobs, provide for more dollars going into the local economy by means of their employees spending what’s left after the government rape (taxes) with local businesses, only to be bludgeoned with even more taxes to pay for the low life losers that have no desire to be anything more than a drain on resources.

    What is insidious here is the fact that Barry, who has never created anything much less a solution to a real problem just wants more money for his freebie coffers and to extend his already enormous government reach.

  • Robert Banning says:

    Buckwheat PUSSY Girl Obama with no real history no past to draw from. Except your history of exchanging blowjobs with Chris Matthews and the rest of the media trash. Let me end with FUCK YOU !

  • pete45 says:

    The United States government has failed the people of this nation, therefore Obama thinks corporations should be the new social welfare agencies and pay taxes to take care of all the individuals on entitlements. To hell with capitalism and making money…just give it to the government to waste!

  • Patrick Driscoll says:

    Since congress seems useless, we Americans should consider every method to take this guy out of office (impeach, jail, punish)
    He is useless as tits on a bull and an embarrassment to every American. When I got to Europe, everyone is laughing at the three stooges (obuma, hillary, kerry)

    1. Teserra says:

      I think that is supposed to be on a boar hog! hahahahaha!!! So true!

  • Patrick Driscoll says:

    This idiot is an impostor in the WH. He is easily pushing Americans to take their country back and it will be with an anger that will eclipse 1776 and his destruction will remain at the top of the list. He is truly not capable of managing a civilized society. He should take his ugly ass to the middle east. Plenty of jobs there.
    How did we allow this asshole to live the people’s house for almost 8 years. He can take all his sad sacks with him. Time to put the trash out!

    1. suepope says:

      This is one thing I don’t understand, I thought congress made laws the president signed them into law. Since he been in office he hs done as he pleae’s. They could stop him, he has destroyed this country and Congress has let him.

  • champion2211 says:

    If the government would work with companies and charge them a decent tax for their companies they might just stay here and work with the government. But due to the inapproiate ways of the government in that they think that they can charge businesses what they feel. The government is hurting businesses and chasing them out of the country. That hurts the job market, it hurts us all. But with a government that doesn’t seem to give a rat’s a$$ about anyone but itself and how much they can put in their own pockets it is no wonder they are leaving the country.

    1. po'ed in az says:

      Let us not forget the abusive labor unions here as well. They are just as guilty for demanding that a company pay some of the wages they do, pay for the healthcare, and pay a retirement that equates to more than a real blue collar worker makes, for some slob to stand around with his/her finger in their @ss being totally unproductive. The first step in fixing this “inversion” problem is to get rid of the damned unions and let people earn what they’re worth.

  • Neal says:

    I notice no American companies or people were caught up in the Panama Bank situation. Is it because this country is too lax on personal/corporate taxing reporting or are our citizens better equipped to dodge government taxes? American Companies who create off-shore companies to dodge paying our taxes should not be congratulated but condemned! They are taking monies earned off the backs of local citizens doing business locally with them and taking those profit dollars out of the country for their personal financial benefit and gain! Until AMERICAN BUSINESSES grow some ETHICS and moral obligation to the country which ALLOWS them to make a profit, the rest of the country suffers! Just because our dollars are invested in these companies and we want them to prosper doesn’t mean we shouldn’t DEMAND they profit by doing business above board and ethically!

  • OldKoreanwarvet says:

    All these words of wisdom, from a guy that has spent $4,000,000.00 per year of our money just on vacations!

  • gerald Hughes says:

    Obam is the first man completely unknown to me that I have hated.

  • sue lenhart says:

    Yes, Congress, please do your job. Do what needs to be done to make such corporate inversions less appealing to American companies to minimize their tax burden and their overhead by re-establishing themselves as foreign corporations. Do us ALL a favor by lessening government regulations and cutting corporate taxes. If we can get that done, then the corporate inversion loophole would be less appealing to American corporations, and they would not have to seek such an “out”. Imagine that!!!

  • Bishop351 says:

    Questionable birth certificate, questionable social security number, and questionable draft card. Define “insidious”….

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