Business
Companies Too Big to Invert Would Take Brunt of Obama Tax Plan
Citigroup Center (AP Photo)
(Bloomberg) — President Barack Obama’s proposal to tax the offshore profits of U.S. corporations could encourage all but the largest companies to follow their cash hoard overseas, according to business leaders and tax lawyers.
The plan would levy a one-time tax of 14 percent on the $2.1 trillion U.S. companies have stockpiled abroad, sidestepping the Internal Revenue Service. It also calls for a 19 percent minimum tax on future foreign earnings. The prospect of those increased taxes could spur some companies to relinquish their U.S. residency altogether — either by merging with a foreign partner in a corporate inversion or finding a foreign buyer, according to J. Richard Harvey, a former senior official for the Treasury Department and the IRS.
Tax lawyers said there could even be a rush to do so to avoid limitations the administration is also proposing on inversions, in which U.S. companies shift their addresses overseas to tax-friendly locations.
“They are already looking to invert under current law, so if you lay over additional taxes, it seems inevitable that there will be even more incentive for them to get out of Dodge,” said Harvey, a tax professor at Villanova School of Law in Pennsylvania.
Activism
Oakland Post: Week of November 20 – 26, 2024
The printed Weekly Edition of the Oakland Post: Week of November 20 – 26, 2024
To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window. 
Activism
Oakland Post: Week of November 13 – 19, 2024
The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024
To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.
Activism
LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST
Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST
Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?
Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.
STREAMED LIVE!
FACEBOOK: facebook.com/PostNewsGroup
YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa
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Oakland Post: Week of November 20 – 26, 2024
PRESS ROOM: Clyburn, Pressley, Scanlon, Colleagues Urge Biden to Use Clemency Power to Address Mass Incarceration Before Leaving Office
Tennessee State University Set to Debut the First Division I Hockey Team at An HBCU
HBCU Champions Advance to Postseason Play
An Inside Look into How San Francisco Analyzes Homeless Encampments
Op-Ed: Where Do We Go from Here?
HBCU Interns Learn Emotional Intelligence
Leveling Up: How HBCUs Empower Black Students To Rise Above, Achieve
Op-Ed: A Racial Reckoning in Columbus Ohio
PRESS ROOM: National Battle of the Bands Honors HBCU Heritage with “The Legacy of HBCU Marching Bands”
Five HBCUs Leading the Charge in Creating Black Excellence
OP-ED: We Must Work Together to Support the Sustainability of HBCUs in America
Embracing Home Visits: Honoring Parents and Strengthening Communities
THE FEDS
Biden-Harris Administration Announces $1.3 Billion in Additional Funding for HBCUs
Alameda County District Attorney Pamela Price Announces $7.5 Million Settlement Agreement with Walmart
‘Jim Crow Was and Remains Real in Alameda County (and) It Is What We Are Challenging and Trying to Fix Every Day,’ Says D.A. Pamela Price
OP-ED: Hydrogen’s Promise a Path to Cleaner Air and Jobs for Oakland
In the City Attorney Race, Ryan Richardson Is Better for Oakland
Oakland Post: Week of October 30 – November 5, 2024
D.A. Price Charges Coliseum Flea Market Vendors in Organized Retail Theft Case
Barbara Lee, Other Leaders, Urge Voters to Say ‘No’ to Recalls of D.A. Pamela Price, Mayor Sheng Thao
COMMENTARY: DA Price Has Done Nothing Wrong; Oppose Her Recall
Harris Promises 1 Million Forgivable Loans for Black Businesses
Oakland Post: Week of October 9 – 15, 2024
2024 Local Elections: Q&A for Oakland Unified School Candidates, District 3
‘Criminal Justice Reform Is the Signature Civil Rights Issue of Our Time,’ says D.A. Pamela Price
LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
“Two things can be true at once.” An Afro-Latina Voter Weighs in on Identity and Politics
Oakland Mayor Sheng Thao’s Open Letter to Philip Dreyfuss, Recall Election’s Primary Funder
LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
AMG GLC43: The Perfect Blend of Power and Practicality
2024 Mercedes Benz GLC 43 AMG: Ultimate POV Test Drive
Unleashing Power: The GLC43 SUV with 416 HP
Why DeLorean Chose Stainless Steel: Innovations & Patents
DeLorean’s Untold Legacy
Why Driving the DeLorean is a Unique Experience
How Will the Outcome of This Election Affect the Auto Industry?
The Ariya Empower+
Trump vs. Biden: EV Showdown
Election’s Auto Industry Impact
The Auto Industry’s Struggle – Recovering from COVID
Unleash the AMG Power!
DeLorean: The Rise, Fall, and Second Acts of the DeLorean Motor Company
2024 AMG GLC43 SUV Review: Unleashing Mercedes-Benz’s Hybrid-Enhanced Power and Design
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Alameda County4 weeks agoAlameda County District Attorney Pamela Price Announces $7.5 Million Settlement Agreement with Walmart
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Activism3 weeks ago‘Jim Crow Was and Remains Real in Alameda County (and) It Is What We Are Challenging and Trying to Fix Every Day,’ Says D.A. Pamela Price
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Bay Area4 weeks agoIn the City Attorney Race, Ryan Richardson Is Better for Oakland
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Activism3 weeks agoOakland Post: Week of October 30 – November 5, 2024
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Alameda County3 weeks agoD.A. Price Charges Coliseum Flea Market Vendors in Organized Retail Theft Case
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Activism3 weeks ago‘Criminal Justice Reform Is the Signature Civil Rights Issue of Our Time,’ says D.A. Pamela Price
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Activism2 weeks agoLIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
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Activism4 weeks ago“Two things can be true at once.” An Afro-Latina Voter Weighs in on Identity and Politics
Business
Companies Too Big to Invert Would Take Brunt of Obama Tax Plan
Citigroup Center (AP Photo)
(Bloomberg) — President Barack Obama’s proposal to tax the offshore profits of U.S. corporations could encourage all but the largest companies to follow their cash hoard overseas, according to business leaders and tax lawyers.
The plan would levy a one-time tax of 14 percent on the $2.1 trillion U.S. companies have stockpiled abroad, sidestepping the Internal Revenue Service. It also calls for a 19 percent minimum tax on future foreign earnings. The prospect of those increased taxes could spur some companies to relinquish their U.S. residency altogether — either by merging with a foreign partner in a corporate inversion or finding a foreign buyer, according to J. Richard Harvey, a former senior official for the Treasury Department and the IRS.
Tax lawyers said there could even be a rush to do so to avoid limitations the administration is also proposing on inversions, in which U.S. companies shift their addresses overseas to tax-friendly locations.
“They are already looking to invert under current law, so if you lay over additional taxes, it seems inevitable that there will be even more incentive for them to get out of Dodge,” said Harvey, a tax professor at Villanova School of Law in Pennsylvania.
Activism
Oakland Post: Week of November 20 – 26, 2024
The printed Weekly Edition of the Oakland Post: Week of November 20 – 26, 2024
To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.
Activism
Oakland Post: Week of November 13 – 19, 2024
The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024
To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.
Activism
LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST
Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST
Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?
Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.
STREAMED LIVE!
FACEBOOK: facebook.com/PostNewsGroup
YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa
-
Alameda County4 weeks ago
Alameda County District Attorney Pamela Price Announces $7.5 Million Settlement Agreement with Walmart
-
Activism3 weeks ago
‘Jim Crow Was and Remains Real in Alameda County (and) It Is What We Are Challenging and Trying to Fix Every Day,’ Says D.A. Pamela Price
-
Bay Area4 weeks ago
In the City Attorney Race, Ryan Richardson Is Better for Oakland
-
Activism3 weeks ago
Oakland Post: Week of October 30 – November 5, 2024
-
Alameda County3 weeks ago
D.A. Price Charges Coliseum Flea Market Vendors in Organized Retail Theft Case
-
Activism3 weeks ago
‘Criminal Justice Reform Is the Signature Civil Rights Issue of Our Time,’ says D.A. Pamela Price
-
Activism2 weeks ago
LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST
-
Activism4 weeks ago
“Two things can be true at once.” An Afro-Latina Voter Weighs in on Identity and Politics
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