Obama to roll out international tax proposals on Monday......

[FrenchieCat]

WASHINGTON (Reuters) - President Barack Obama plans to roll out a set of proposals on international tax policies on Monday, in an announcement with potential implications for U.S. multinational firms.

The White House said Obama will be joined by Treasury Secretary Timothy Geithner for the 11:05 a.m. EDT (1505 GMT) event.

Obama's budget outline released in February made reference to proposals to change the tax treatment of U.S. firms with overseas operations and measures to crack down on international tax evasion.

The White House said at the time the measures would bring in $210 billion in additional revenue over the next decade.

During his campaign last year, Obama spoke out against provisions in the tax code that allow U.S. firms with overseas operations to defer payment of taxes on corporate profits if they plowed the money back into their foreign subsidiaries.

Obama said this gave companies incentives to ship jobs overseas.
http://www.reuters.com/article/topNews/idUSTRE5422RX20090503?feedType=RSS&feedName=topNews

[firedupdem]

1. K&R

We need to stop the bleeding. My last two jobs were shipped out of the country.

[FrenchieCat]

2. By the time I wake up here in the West Coast, it will be done!

That's the thing about Barack Obama, morning person that he must be. The three hour difference means, we Westcoaster sleep through most of the actual announcements made. I DVR stuff, otherwise, I'd miss it all! :)

[AllentownJake]

3. This is going to be a bigger fight than Healthcare

Those International firms own congress more than the Insurance industry does.

[firedupdem]

4. You are correct! This is a true test. They will fight this tooth and

nail. These Dems better stand up!

[47of74]

5. I can hear the reich wing talkers right now

They'll be going on about how Obama's a communist, fascist, etc etc for doing this - just like they do with everything else that he says or does.