Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By RedState (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Obama is Trying to Legally Prevent People from Leaving America

% of readers think this story is Fact. Add your two cents.


Remember back in 2012, when good old crazy uncle Ron Paul said that he opposed building a wall on the Southern border because he was afraid it might be used to try to keep Americans in instead of keeping illegal immigrants out? Turns out we might owe at least a partial apology to laughing at Ron Paul for this one, because Barack Obama is attempting this very thing. Of course, he isn’t doing it using a wall, he’s doing it using unilateral executive action that purports to make it more difficult for companies to leave the United States via “inversions.”

WASHINGTON (AP) — The Obama administration on Thursday issued new rules aimed at reducing the tax benefits available to companies that move their tax addresses overseas.

The new rules follow an initial package of rules that the administration implemented in September 2014 in response to a wave of announcements by U.S. companies seeking to lower their taxes by moving their headquarters overseas. Those included an announcement in August of last year by Burger King that it planned to acquire Tim Hortons, the Canadian coffee and doughnut chain.

Treasury Secretary Jacob Lew said, however, there is only so much the administration can do to prevent U.S. companies from pursuing the maneuver, known as a tax inversion. He again urged Congress to pass legislation.

“Our actions can only slow the pace of these transactions. Only legislation can decisively stop them,” Lew told reporters on a conference call.

Lew is half right. He’s right about the half that says the treasury regulations can’t stop inversions; he’s wrong about the idea that legislation can. Corporations, you see, enjoy as much or more freedom of movement about the globe than people do. In fact, companies flat out have foreign governments courting them to relocate headquarters or operations. A law that prevented companies from doing that would be more reminiscent of Soviet Russia than it would of America, frankly, and would be a good deal less effective than the Berlin Wall since these companies already have operations overseas and can’t be deterred from moving by a wall.

Here is a novel idea; why not try to prevent this massive loss of tax revenue via a method that would be both more likely to work and less like a futile gesture by an authoritarian government? Something like, maybe, major corporate tax reform so that our corporate taxation rate isn’t higher than every modernized country in the world (with the exception of Japan, whose economy has likewise been crippled by their effective corporate tax rates)? Instead of futile attempts of dubious legality to force companies not to leave, why not entice them to stay with favorable business conditions?

The simple answer is that the free market is just not something liberals understand or believe in, so they prefer instead the force of a gun, even when they know it will not work.

The post Obama is Trying to Legally Prevent People from Leaving America appeared first on RedState.


Source: http://www.redstate.com/2015/11/23/obama-trying-legally-prevent-people-leaving-america/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.