Obamarx criticizes companies that leave U.S. for lower taxes

President Obama made a forceful case Tuesday for stopping corporations from moving their headquarters overseas to avoid U.S. taxes, saying they are taking advantage of the American economic system and saddling the middle class with the bill.

Obamarx criticizes companies that leave U.S. for lower taxes Pfizer_Drug-Lung_Cancer-0a0cf

Obamarx criticizes companies that leave U.S. for lower taxes Pfizer_Drug-Lung_Cancer-0a0cf

These companies “effectively renounce their citizenship,” Obama said at a White House news briefing. “They declare that they’re based somewhere else, thereby getting all the rewards of being an American company without fulfilling the responsibilities to pay their taxes the way everyone else is supposed to pay them.”

Obama praised regulations issued the day before by the Treasury Department aimed at making these inversions — in which U.S. companies combine with foreign firms to reduce U.S. taxes — more difficult.

https://www.washingtonpost.com/business/economy/obama-companies-that-denounce-us-citizenship-for-lower-taxes-are-insidious/2016/04/05/cf43a2bc-fb41-11e5-886f-a037dba38301_story.html

Obamarx criticizes companies that leave U.S. for lower taxes

Obamarx criticizes companies that leave U.S. for lower taxes

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