Obama’s Stance on Tax Laws will Hurt International Business

international business

Michael Cobb

In a recent speech in Los Angeles, President Barack Obama implored law makers to change tax laws relied on by many companies working overseas today. In fact, a majority of these multinational corporations are vitally structured around the current tax laws set in place. You can read more about his position in BBC’s article, Obama accuses firms of “cherry picking” over tax rules

These new laws, if enacted, will have a dramatic effect on a high number of industries. If Obama has his way with changing the tax laws, it will put a huge road block in the development and expansion of international business around the country. Successful companies would be paying a huge price for simply playing by the rules established by the IRS. The income they stockpiled for prudent reinvestment would immediately disappear. This would all come from the President’s influence and international businesses would suffer from following a legal tax plan.

When these companies choose to expand their businesses overseas, they follow a legal tax plan to make sure their businesses are structured properly. What the public needs to understand is that the media is frequently mischaracterizing these international businesses, portraying their strategies as “illegal” or even “morally wrong”.

Since when was it ever morally wrong to save money for when it’s needed the most? Especially in the current economic environment thousands of businesses and families are struggling with today? This is not the case at all. These companies aren’t illegally evading taxes. They are only following an efficient plan, while complying with the rules set up by the IRS.

If you’re even remotely concerned about losing your personal income in today’s political and economic environment highlighted by this rash action against companies, you should start making plans to attend one of our conferences. You will learn about the latest developments in the financial world and the most efficient strategies for financial security. There is still hope for you, but you need to sit down with our financial experts to learn how you can optimize your wealth when the worst conditions take place.

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