Obama's Rich Donors Threaten Him over Closing Foreign Tax Havens

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	Obama's Rich Donors Threaten Him over Closing Foreign Tax Havens

disenchantedcitizen

5-13-2009 8:24 AM

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disenchantedcitizen says:

Well, this ought to guarantee Obama will back off.

2 Comments |

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5-13-2009 9:31 AM

burndata0

The problem with taking away the ability to move money abroad is that if the companies can no longer move the money they will just simply close the business in the US and go else where where they can continue to enjoy their profits as they please. Americans will still buy the products, Made in America doesn't mean jack to most people these days.

5-13-2009 10:42 PM

disenchantedcitizen

Good point burn, I think they probably will move.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/314594af-d95a-444e-a354-92709233974d/6C7C16FD-3BE9-44FA-BD07-A613A65D1DDA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/" href="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/" style="font-size: 11px;">firedoglake.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/">One of the most bold and impressive aspects of Obama's budget plan is the decision to plug the huge loopholes that allow American companies to hide assets and evade paying their taxes, and hire 800 IRS agents to enforce it.  
</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/"><P>You would think the fiscal responsibility hawks would be delighted at the prospect to reduce the budget deficit by $210 billion over the next ten years, but alas <A href="http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/5301078/Barack-Obamas-rich-supporters-fear-his-tax-plans-show-hes-a-class-warrior.html" linkindex="15">it's not to be</A>: </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/"><H3>Barack Obama's rich supporters fear his tax plans show he's a class warrior</H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/"><P>A top Obama fundraiser and hedge fund manager said: "I'm appalled at the    anti-Wall Street rhetoric. It was OK on the campaign but now it's the real    world. I'm surprised that Obama is turning out to be so left-wing. He's a    real class warrior."  </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://firedoglake.com/2009/05/11/offshore-banking-business-obamas-rich-donors-threaten-him-over-closing-foreign-tax-havens/">Among those affected by such changes would be some of Mr Obama's most powerful    supporters in the election</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6C7C16FD-3BE9-44FA-BD07-A613A65D1DDA/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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