:0) amazing, but never mind, as you cannot be serious, must be joking
in the mean time, just in in-tray
Obama, intends to raise $210 billion over a decade by revising a tax policy that lets companies defer income earned abroad, and by closing a loophole that administration officials say lets firms hide foreign subsidiaries.
David Roche, global strategist at Independent Strategy, thinks the reason why Obama is pursuing this so aggressively is very simple - money.
"First of all, the Obama administration is going to see government debt-to-GDP in the U.S. go to 80 percent. He's running almost unfinanciable budget deficits close to 12 percent this year, probably 8 percent in the long term. Its (U.S. government) going to go after anything that is money in order to try to limit the damage its doing through its fiscal policies, and that includes the rich and corporations," Roche said.
Roche is in agreement with Ross that this is a bad move.
"If you undertake measures, whether they are fiscal or the way you direct bank lending or whatever, which stops the global flow of capital, it prevents investments being made in the most productive place to have those investments. This of course runs counter with globalization. It is in fact deglobalization. And this is a bad measure," Roche added.
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