Dems Wants Obama to Rule by Decree
Just "decree" changes in the tax code and
collect whatever money you need.
A trio of Senate Democrats is urging President Obama to use his executive powers to crack down on companies that shift operations abroad to avoid a U.S. tax bill.
Sens. Dick Durbin (Ill.), Jack Reed (R.I.) and Elizabeth Warren (Mass.) told Obama in a letter Tuesday that he should do all he can to discourage the practice of “inversions,” in which companies that do work in the United States shift their headquarters elsewhere to avoid U.S. tax rates.
“Corporations that renounce their U.S. corporate citizenship should not be able to reap all the benefits that American tax dollars provide,” they wrote. “We urge you to use your authority to stand up for American companies which are proud to be part of our nation and reduce U.S. incentives for others corporations which would abandon their responsibilities to their country for a nod of approval from Wall Street.”
If the government does not act soon, the U.S. could lose billions of dollars in tax revenue from companies that enjoy perks provided here, they cautioned.
Via The Hill.