Clinton Administrations Proposal to Increase Taxes for Multinational

Clinton Administrations Proposal to Increase Taxes for Multinational

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Clinton Administration's Proposal to Increase Taxes for Multinational Corporations My topic is the increase if the taxes which Clinton Administration is planning. This increase in taxes will target "multinational Corporations, end the favored tax treatment of extra long term bonds", It will also raise capital gains taxes by “changing the rules for computing the cost basis of securities when they are sold at a profit”. What this will do is increase the taxes for the rich and will decrease the difference between the rich and the poor. The plan is intent on cutting the middle class tax and finance higher education (yeah right). The current tax law decreases the Federal Treasury Revenue and makes the economy less efficient or less competitive. The multinational tax would disallow multinationals to assume half of their goods are foreign even if they are made in the US. Thus they could export to a country with low taxes and thus pay less taxes. This change would bring an increase of 7.9 Billion in corporate taxes over the next 5 years.
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This note was uploaded on 05/21/2011 for the course ACCT 101 taught by Professor All during the Spring '11 term at Kaplan University.

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Clinton Administrations Proposal to Increase Taxes for Multinational

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