Marshall says that Clinton has talked a lot about the economy this month and will continue the discussion during her visit.
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By decamping overseas, Pfizer could get to slash its tax rate to 5 percent, the level that Dublin-headquartered Allergan paid previous year.
“It’s not only shameful, it’s risky”, Clinton said of Trump’s rhetoric, telling the crowd of 400 that it “runs counter to what I and others who actually have been in the [White House] Situation Room, making hard choices, know we have to do”.
On the Republican side, real estate mogul Donald Trump, neurosurgeon Ben Carson, Texas Sen.
Clinton is the current frontrunner for the Democratic presidential nomination.
Republicans alleged a “whitewash” of a Colorado mining accident that unleashed 3 million gallons of toxic wastewater and requested a nonpartisan investigation after Interior Secretary Sally Jewell said Wednesday she’d…
Shay said the “sentiment in the tax community today is yes there is regulatory authority to do something” about earnings stripping. Here’s one way it works: The U.S. subsidiary takes a loan from its new offshore parent.
Democratic presidential hopeful Hillary Clinton unveiled plans Wednesday to crack down on companies that seek to dodge USA taxes by denouncing their US citizenship and moving their headquarters overseas.
The New York Times reports Clinton’s campaign vowed the ad, which calls for stricter gun laws, would be mixed in with already-reserved TV spots in Iowa and New Hampshire.
In 2004, Congress attempted to contain the practice by saying USA companies couldn’t escape US taxes by merely reincorporating overseas with the same shareholders and people overseeing the company. The Clinton campaign has not yet settled on what the rate of taxation would be. Congress is frozen as many members argue that the loophole should be addressed by comprehensive tax reform, something it’s failed to pass.
The Treasury Department, after a wave of inversion deals, announced new regulations in September 2014 targeting certain tax-avoidance deals. So far, the rules haven’t addressed earnings stripping, which many lawyers say is critical to limiting the tax benefits of inversions, but administration officials indicated as recently as Tuesday that they are still considering taking action on the issue.
While the Treasury Department has been studying earnings stripping, it declined in its most recent round of guidance to make any changes.
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When asked about pressing problems like the national debt, Hillary Clinton said, “I do come from the Clinton school of economics”, she said, referring to a quote from Bill Clinton’s presidency, when he claimed to bring “arithmetic” back to Washington, D.C. “Looks to me like it’s a pretty steep speed bump”.
