Obama: Overseas tax dodges are ‘unpatriotic’

He says best tax reform lowers the corporate tax rate.

President Barack Obama  (AP Photo)

President Barack Obama (AP Photo)

President Barack Obama says a loophole that lets companies dodge U.S. taxes by moving their headquarters overseas is unpatriotic.

Obama is denouncing “tax inversions” in his weekly radio and Internet address. He says companies are essentially renouncing their citizenship to avoid paying their fair share.

Obama says the best way to address the problem is through tax reform that lowers the corporate tax rate. But he says the problem can’t wait. He’s urging lawmakers to join the effort to close the loophole.

Obama says Americans don’t get to pick which rules they follow and neither should companies.

In the Republican address, congressman Steve Daines of Montana says Obama is waging a war on the middle class. He’s calling for the Senate to pass House-approved jobs bills.

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Online:

Obama address: www.whitehouse.gov

GOP address: www.youtube.com/user/rnc/videos
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One Response to "Obama: Overseas tax dodges are ‘unpatriotic’"

  1. Keith  July 27, 2014 at 7:25 pm

    Clearly, the man has absolutely no clue how a business works.

    The United States has one of the highest (if not THE) highest corporate income tax rates in the world. Naturally, businesses are going to go wherever they can obtain the most favorable business climate for their enterprises.

    Right now, that’s increasingly anywhere BUT the US of A.

    Add to this nonsense REAMS of stifling over-regulation caused by FAR too many dirt-bag, lawyer leeches and gormless politicians and it’s no wonder US corporations are increasingly looking elsewhere.

    Our stupid politicians in this country have yet to understand that their overbearing tax climate (along with the stifling corporate regulatory environment they have gleefully created) no longer present an unavoidable roadblock to business.

    US corporations now have a choice. And their increasingly rapid movement OUT of the USA has nothing to do with “patriotism” and everything to do with trying to stay competitive in an increasingly competitive (global) marketplace.

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