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Obama proposes tax of 19% on foreign profits


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01-02-2015 11:10 AM

 

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Will include President Barack Obama's proposals on the US budget tax to a minimum of 19 percent on subsequent foreign earnings for companies based in the US-based, and the tax rate of 14 percent on foreign profits accumulated, according to what she said 'Bloomberg News', citing two people familiar with the Budget, Sunday. She said 'Bloomberg' that the planned part of the budget plan taxes is estimated at $ 3.99 trillion will be applied Monday, aims to help the middle class and the American poor to increase taxes on the rich. She said that the new proposals will be part of a bid for greater reform of the US tax code and reduce the average The current businesses of 35 percent, despite the fact that a small number of companies is to pay the higher rate. But Obama and the Republicans who now control Congress disagree about the size of the reduction of the tax rate, and on the tax exemptions that should be eliminated or reduced to compensate for the lost revenue. He said one of the two people who quotes them 'Bloomberg' the report said Obama wants to use the new revenue to finance infrastructure projects, and that these two items, in addition to the extension of certain laws, for which is expected to end, would provide $ 565 billion over ten years. 

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Obama is proposing a new tax on corporate earnings1-710787.jpg US President Barack Obama (archive)

Sunday, February 1st, 2015 - 21:19 GMT Abu Dhabi 

Abu Dhabi - Sky News Arabic

White House official said that US President Barack Obama's budget for fiscal year 2016 includes a tax once by 14 percent to nearly two trillion dollars of foreign earnings are not subject to taxation, which accumulated US companies abroad and will use the proceeds to finance projects in infrastructure.

He also used the money to plug in a box "Wi Trstfend Hai" government.

The official said, "This tax means that American companies are now paying taxes on two trillion dollars already possessed abroad rather than delay the payment of any tax US for an indefinite period." He added that in the future budget will propose that US companies pay the tax rate of 19 percent on all revenues Foreign collected by.
 

US President suggestions do not have a great opportunity in the future to be passed in Congress. But it reflects the Democratic Party's desire to increase the tax pressure on the richer, for the financing of new aid for the middle class.

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This ideological fool has to go ! Impeach him, arrest him on charges of treason, muzzle this dog ! This Pin Head has amassed a list of unconstitutional acts a mile long. Somebody, somewhere in this bloated government do something for goodness sake. Defunding is a good start, but between O and Biden, every time they open their maw something utterly stupid and ridiculous comes running out

 

that is all . . . .   

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