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U.S. corporations fear big
tax hikes in White House budget

Reuters, by Kim Dixon

Original Article

Posted By:NorthernDog, 1/30/2013 8:56:39 PM

WASHINGTON - U.S. corporations fear they will be the main course on a menu calling for hundreds of billions of dollars in new tax revenue that President Barack Obama is expected to seek in his annual budget proposal, expected within weeks. Fresh off a political win that raised tax rates on the affluent and averted the so-called "fiscal cliff," Obama is not likely to back away from past proposals he has sought to close tax loopholes and raise taxes on many big companies, said former advisers to the president. Indeed, some lobbyists who represent Corporate America said they fear Obama

Comments:
The economy is already contracting. Imagine when he grabs even more money out of the private sector.

      


Post Reply  

Reply 1 - Posted by: Dante, 1/30/2013 9:09:12 PM     (No. 9149522)

Zero´s budget proposal? Like the previous one which was shot down 99-0 in the Senate?

The grifter is a sad joke.

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Reply 2 - Posted by: gabula, 1/30/2013 9:33:24 PM     (No. 9149551)

When big biz gets out of bed with big gov, call me and maybe I´ll care.

Gabula

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Reply 3 - Posted by: Bobn.T, 1/30/2013 9:48:03 PM     (No. 9149567)

#1 - my sentiment too. They knew.
(Except NBC, which will get 0bama´s favoritism)

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Reply 4 - Posted by: bob913, 1/30/2013 10:16:15 PM     (No. 9149589)

Approx $30 more in taxes were taken out of my check. I get paid every 2 weeks. 26 x 30 + 1,200+ more in gas cost plus price of everything else going up and up.

The democrats call me greedy.

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Reply 5 - Posted by: Philipsonh, 1/31/2013 12:43:07 AM     (No. 9149693)

The smart ones with the ability to relocate will get the "H-LL out of Dodge". Last I looked, Canada and Mexico are right next door to the U.S. Corporations relocating to our
neighbors North and south will also cause EMIGRATION from the U>S> to Countries where the jobs are. Forget this State to State stuff, just move to another Country. I am sure that our neighbors would love the new employment opportunities. I would sure like to see economic conditions improve in the U.S. but it will never happen under the current Administration policies. No nuclear plants. New coal fired utility plant canceled and 3000 jobs dead in the water. Keystone pipeline derailed for who knows how long.
Plants that move to right-to-work states attacked by Government lawyers. Canada shipping commodities to their West Coast ports for Asian consumption. LNG plants waiting for Govt approval. the list is endless.

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Reply 6 - Posted by: Foggybottom, 1/31/2013 1:29:11 AM     (No. 9149716)

They have to raise prices (inflation) to cover any increases or repatriate the business where they can compete on price.

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Reply 7 - Posted by: TXknitter, 1/31/2013 3:47:49 AM     (No. 9149749)

It is so hard to feel sorry for these big CEOs who all sold their soul to be photographed with this fraud and be "cool." Enjoy.

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Reply 8 - Posted by: Trigger2, 1/31/2013 5:31:45 AM     (No. 9149787)

Those big companies who supported Obama have already avoided the last tax increase by shelling out dividends early. They did it even if they had to borrow money.

Now those big companies who supported Obama will move their companies overseas and avoid any new tax hikes. You can bet on it. Demonrats like taxes only if it affects someone else and not them.

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