Many on the left of the Democratic Party – especially in Iowa – feel corporations get off too easy in the United States and want to see them pay a higher tax rate.
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Former President Bill Clinton is still heading to Pennsylvania on Thursday to raise money for his wife’s campaign, but his trip won’t include a stop in Bethlehem.
A central element of Clinton’s proposal is a commitment to crack down on “earnings stripping” – a maneuver through which multinational corporations game the tax system to shift profits overseas to countries with lower tax rates while maximizing high deductions in the U.S. This would close a loophole that costs taxpayers as much as $60 billion over 10 years.
Clinton officially kicked off her 2016 bid for the White House yesterday during an event on New Yorks Roosevelt Island.
Clinton would also try to prevent inversions by requiring the acquiring company to control a 50% stake in the combined entity. Here’s one way it works: The U.S. subsidiary takes a loan from its new offshore parent. “When we support American manufacturing we support not only American jobs today but innovation for the future”.
SALEM, N.H. (AP) The latest piece of Hillary Clinton’s jobs agenda aims to boost American manufacturing jobs by offering tax incentives for new investment in communities suffering from factory closures and layoffs.
Speaking from Clinton campaign headquarters in Brooklyn, New York, Mr. Fallon, who previously worked as a top spokesman at the Department of Justice and for Sen.
The Democratic presidential candidate recently criticized the practice of inversion when pharmaceutical giant Pfizer proposed a $160 million merger with an Irish company to lower its taxes.
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If the exit tax comes into being, companies like Pfizer will face penal provisions for shifting overseas for leveraging tax advantages, said the official, according to a report by Bloomberg. “Hillary Clinton should also explain why she should be trusted on this issue when her husband defends the very practice she’s criticizing and she’s personally profited from overseas tax havens”, RNC spokesman Michael Short said. Recalling Bill Clinton’s 2009 trip to North Korea to free two Americans who were being held there, she said, “You never know why you might need to use him”.
