I have heard quite a bit about business owners taking their businesses overseas in order to evade the United States taxes, and I found an article on Chron.com, Houston’s National Newspaper. In this article, titled “Congress leery about Obama’s plan on tax loopholes,” Stephen Ohlemacher talks about President Barack Obama and his promise to “crack down on companies that ship jobs overseas and duck U.S. taxes with offshore havens.” In my opinion, sure these guys who are doing this are smart, but at the same time, they are not helping our deficit at all. “Obama said his plan would raise $210 BILLION over the next 10 years, though no tax increases would go into effect until 2010.” That’s $21 billion a year, less than a 2% nick in the federal budget deficit that is projected to hit $1.2 trillion in 2010. WOW, is all I can say. How will he do this you ask? He’s planning to employ at least 800 new IRS agents to enforce the tax code. Let’s hope this works!
Source: http://www.chron.com/disp/story.mpl/nation/6407907.html
By: Stephen Ohlemacher
