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LEVIN: Want to cut the deficit?; End offshore tax abuses
Topic Started: Nov 2 2011, 12:23 AM (186 Views)
tomdrobin
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Fire & Ice Senior Diplomat
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A good idea that has about as much chance of being passed as a snowball in hell. The heavy hitters will get their Tea Party puppets riled up about this one claiming it is unconstitutional, socialist and a government takeover. Oh, and a job killer too. :teeth:

Quote:
 
By CARL LEVIN, U.S. Senator | 0 comments


The vast majority of Americans fulfill their legal and civic obligations to pay the taxes they owe, and rightly expect others to do the same. But too often, corporations and wealthy individuals use overseas tax havens to dodge their duty, passing their tax burden off onto others and increasing the federal budget deficit.

That’s why I have introduced the Stop Tax Haven Abuse Act, legislation geared to stop offshore tax abuses that constitute a huge drain on U.S. taxpayers. This bill offers powerful tools to combat offshore tax abuses and eliminate tax incentives that encourage corporations to move jobs and profits overseas. And at a time when budget deficits are everyone’s concern, this bill offers a reasonable way to reduce the deficit by billions of dollars. I have recommended to the Joint Select Committee on Deficit Reduction – the so called “super-committee” – that they consider the Stop Tax Haven Abuse Act as they work on a bipartisan agreement to reduce the deficit.


http://www.argus-press.com/opinion/guest_commentaries/article_3dc6323a-0499-11e1-95b3-001cc4c03286.html
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