Energized by a global summit meeting two weeks ago where world leaders called for a crackdown on abusive tax havens, Congress seems likely this year to debate significant elements of the federal income tax code as it affects corporations. But it’s not likely to be the debate those companies had been hoping for. Full Story »
Posted by Derek Hawkins
This is a big story what's not being covered by hardly any other news organizations. This well sourced and well written article try's to peel back the cloak on invisibility that these cooperations are hiding. As long as they keep the money overseas,they pay nothing. That's way they have mail boxes all over the world, to hide their mammoth profits.
Obama and co. will have their hands full trying to change the tax law on big business.He will have to have the blue-dogs in his corner.
A good bit of writing, well sourced, good but narrow context on current Taxation policies. The writer was particularly good at illustrating the delicate balancing act needed for Tax changes. Worthwhile read...
The problem for many corporations will be their foreign business model has grown and been developed over many decades based on the current tax codes. Changing them needs to be done VERY VERY carefully. Bear in Mind 60% of IBM's, GM's, GE's and many other American companies business gross is OUTSIDE the USA. Building all revenues whether Income and Tax..go hand in hand.
A highly recommended piece that outlines overseas corporate tax debate in an even-handed, thorough manner.
Instead of negotiating the trade-offs that would be part of a broad overhaul of the corporate tax system, multinational corporate icons that employ millions of Americans ... More »
the article explains fairly well the various possible changes for taxes on companies doing business overseas, which may happen this year. the choices apparently are quite complex, with trade-offs involving competiltiveness, and, which results will not be clear in advance, making congress' choices much more difficult.
Indeed, just two years ago, when Democrats won back total control of Congress for the first time since 1994, business leaders were heartened by what they heard from the new ... More »
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