Posts Tagged ‘tax’

Obama says he will close tax loopholes

Monday, May 4th, 2009

News Story:

Today President Obama announced that he would close tax loopholes for US companies that attempt to shelter their profits from taxes.  Obama’s main reason for this move is to protect American workers by making it equal cost to create a job overseas or in the US.

Commentary:

If Obama was truly interested in creating jobs in the US, why not go to a flat tax or something like that.  This would impose a great job creation engine in the US economy.  Why not eliminate all loopholes? I agree with Obama’s goal, but as usual I am not sure if his actions will support the outcome.  More to come about this topic I am sure…