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Obama "very interested" in raising taxes per E.O.

Posted: Mar 3, 2015

IMPEACH

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He is considering closing tax loopholes by EO as...sm - VTMT

[ In Reply To ..]
Congress has shown no interest in reforming the tax code. Most Americans are in favor of closing these loopholes that allow people/corporations to avoid paying their fair share.

So since when does the President have the authority (sm) - LM

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to do this on his own "because Congress didn't do it." This is Obamalaw 101. Give me a break. Most people don't want him negotiating (his brand of negotiations - the sissy pants way) with Iran either, but that doesn't stop him.

ObamaOutlaw 101 is more like it. - Truthhurts

[ In Reply To ..]
i'm hoping the new House and Senate will be able to stop him but from watching those two bodies, I see everything on the Dem side is still partisan...except for the one vote last week, but still wasn't good enough.

Got to get Harry Reid and a few others out of there before things can get better.

Since the day he took office, I think. - Thats why we have a President.

[ In Reply To ..]
nm

President Obama is having his people investigate - the use of Executive order

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Bernie Sanders has suggested the use of EO to close loopholes.

"Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of," Earnest continued. "But the president has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goals. So I am not in a position to talk in any detail at this point, but the president is very interested in this avenue generally," Earnest finished.

Sanders sent a letter to Treasury Secretary Jack Lew Friday identifying a number of executive actions he believes the IRS could take, without any input from Congress, that would close loopholes currently used by corporations. In the past, IRS lawyers have been hesitant to use executive actions to raise significant amounts of revenue, but that same calculation has change in other federal agencies since Obama became president.

Loophole definition... - sm

[ In Reply To ..]
...an error in the way a law, rule, or contract is written that makes it possible for some people to legally avoid obeying it.

someone needs to do something about these loop holes.... - nana7

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and I don't care who does it. Congress used Microsoft as an example of how the tax codes are broken years ago, but failed to act on it. Hence, Microsoft's revenue was 77.8 BILLION and only paid 5.2 billion in taxes because of foreign tax havens and lower tax rates to operate overseas.

So these huge companies get tax credits and breaks for operating overseas and taking jobs from the American people just so they don't pay taxes. Google corporations that pay little taxes and see who comes up, Microsoft, Bristol-Meyers, Rite Aid, Stanley Morgan, General Motors, etc.

I don't care how it gets done as long as it gets done. Corporate welfare needs to stop and if Congress doesn't have the balls and an EO can do it then I am for it.

Yeah, the Chicago way, the backdoor way. - Sam

[ In Reply To ..]
Or maybe the Vermont socialist way. We have a democracy here. Helllloooooo...

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