The issue is called “deferral” and it allows U.S. companies to defer income into the future to avoid high marginal tax rates on income. Obama and his liberal cohorts in Congress want to collect this deferral money with a plan that will increase taxes on international American companies by $190 billion over the next 10 years. Why does this matter to the American taxpayer?If the American government makes it significantly more expensive for American companies to bring home money to the United States, then they’ll likely stop and move their operations overseas to more job-friendly climates. That threatens U.S. jobs and infrastructure in very shaky financial times.The President needs to understand that we can’t tax our way out of this economic mess. Even though he likes to call this a “corporate” tax, the proposed deferral tax doesn’t really target big corporations. They will avoid the tax by moving out of the U.S. American workers are the ones who will really feel the pinch if Obama and others have their way with deferral. Take Action Today! Tell your legislators that you aren’t buying Obama’s corporate tax rhetoric on deferral. Urge them to oppose this latest tax hike scheme that would threaten American jobs and the economy as a whole.
Dick Armey
Chairman
FreedomWorks.org
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