Lew Reins In Tax-Cut Deals With Anti-Inversion Crackdown

by JASmius



Thou shalt not flee Obamerikastan, thou shalt not escape confiscatory taxation, and any that try shall be judged with great wailing and gnashing of teeth.

Wow, being Godbama's finance Commissar must be fun:

Treasury [Commissar] Jacob J. Lew’s crackdown on inversions will get an immediate test as eight U.S. companies with pending deals decide whether to proceed, and other companies contemplating a foreign address now have to think twice.

That’s exactly what Lew had in mind.

“This action will significantly diminish the ability of inverted companies to escape U.S. taxation,” Lew told reporters on a conference call Monday. “For some companies considering deals, today’s action will mean that inversions no longer make economic sense.”

The Treasury announcement heightened the tension between the government and companies considering obtaining a foreign address to lower their tax bills. Lew and President Barack Obama made clear that they were prepared to use rule-making authority to try stop some deals, even at the risk of a backlash from the companies and from Republicans, who already complained that Lew’s moves went too far. [emphasis added]

Because if it's the last thing this Regime ever does, they will spare no effort, leave no stone unturned, do everything in the demigod's cosmic powers, to make absolutely certain beyond a shadow of a doubt that the U.S. economy never grows, and no middle class job is ever created, ever again.

Against that kind of raw power, how can some squiggles on a piece of 225-year-old parchment possibly hope to survive, much less stand in the way?

And the White House is just getting started:

Henrietta Treyz, an analyst at Height Securities LLC, said Treasury is leaving open the possibility of future action to focus pressure on companies.

“In our view,” she wrote to clients late yesterday, “these will come during the run-up to the election as the administration attempts to keep pressure and attention on this issue.”

Treasury will release the formal regulations later. In keeping with past practice, the announcement served as a detailed notice of the government’s plans.

Or a "warning flesh wound" preparatory to a kill shot right between the eyes, as befits an irredeemably "evil" "enemy'.  Even though we know that mindset of the Obamunist Left - that they hate genuine capitalism and all who dare to purvey it and benefit from it as free men and women, heedless of the "righteous" direction of their "betters" in Washington, and consequently must be captured, crushed, and bludgeoned into docile submission - it's still infuriatingly breathtaking to see that bigoted hostility, that self-righteous indignance, so candidly expressed in their day to day policy rhetoric.  And how in character that their resolve to never let Article I, Section 1 get in the way of their anti-wealth crusade, the better to plunder all of it for themselves.

Mark my words, folks, Barack Obama will, indeed, construct a fence around Obamerikastan....



....but it won't be to keep foreigners out; it will be to keep Americans in.