Political Crossfire Forums

As an expat I can definitely feel the frustration since the US is the only country I know that double taxes its citizens, even on income earned outside of the country- I guess this is why I am so vehemently anti-tax. The only thing I have going for me is that I am not in the same league as guys like Eduardo Severin but nevertheless I try to keep much of my assets in cash (as well as other means) because banks are required to keep tabs on American citizens overseas too. I cant totally blame Obama for all this because its been going on long before he got into office. As for Apple and all the other companies looking for loopholes to not pay their taxes I say good for them, the less taxes anyone or any company pays is good- anything to keep money away from the greedy government is a good thing.

Yeah, I'm not blaming Obama on overseas tax havens, I'm pointing out his hypocrisy in his statements and stances on going after American companies with cash overseas while he supports Apple, which is exactly that.

I don't understand your argument. Are you trying to say Obama should deride companies for doing what is legal?

He didn't attack companies for holding money overseas or businesses for going out of the country. He attacked the laws that gives incentives to do it and said he wants to change the law.

The better solution is to reduce our tax rates so that companies don't send profits overseas. Right now, we're getting 10% of nothing. Reduce it to 5%, and suddenly you're making money hand over fist.

(Percentages are made-up, but indicative.)