Home

CBS Detroit

DETROIT (WWJ) – More and more American companies are moving overseas to save millions in taxes by merging with foreign companies. It’s called Corporate Inversion.

President Barack Obama has talked about executive action to combat the loss of billions in U.S. tax dollars over the next ten years.

The president of the Business Roundtable, former Michigan Governor John Engler, speaking on Fox News Sunday, says we should have the best tax code in the world.

“We really haven’t touched it in 30 years since the Reagan Compromise back in the mid ’80s and since that time, everybody in the world’s been changing their tax code . We’ve now got a tax code that actually is more favorable to foreign-headquartered companies than it is to our own.”

Obama has said he might consider executive action to stop inversions, calling them unpatriotic … while some Republicans say it’s more of an election…

View original post 98 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s