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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (124880)	2/28/2012 7:15:24 AM
From: TideGlider	4 Recommendations Respond to of 224655

Obama's tax plan is to tax foreign profits which are already taxed by jurisdictions in which the made the profit. That means companies like Pfizer, IBM, all major oil, auto companies, drilling companies etc etc will all be double taxed by both the US and jurisdiction in which they earned the profit. This could result in many companies moving their Headquarters to foreign locations losing the tax base from those companies altogether. It would cause a huge increase in the trade deficit as well. The Obama tax plan is to increase taxes on multi national corporations as well as oil and gas companies, and eliminating significant tax deductions that will make capital investment more difficult and does nothing to improve productivity. The spin is on but they are not being clear.