But, they're meddling in the Free Market System™!!!
President Obama will present a set of proposals on Monday aimed at changing international tax policies, calling for the elimination of benefits for companies and individuals that harbor their cash in offshore tax havens.
The president, along with Treasury Secretary Timothy F. Geithner, will announce their plans during a late-morning appearance at the White House. The proposed overhaul in international tax rules, which will be fully unveiled this month in the administration’s budget, could help raise $210 billion in tax revenues over the next 10 years.
The White House said that Mr. Obama would seek to crack down on overseas tax havens in an attempt to “close the international tax gap.” The president is aiming to take away the competitive advantage for companies that invest and create jobs overseas, working to replace their tax advantages with incentives to produce jobs in the U.S.
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