Artemis

They try their scar tactics on this bill "losing our Currency" OOOOH, but giving employers a break to hire americans and having the wealthy have to report their off shore accounts sounds GRREAT!!

permafrost Loc: Minnesota

This is amazing. This bill will stop some of the cash the rich send offshore and never pay taxes on.

I is long past time that some control was placed on how the 1% escapes the taxs of our nation.

Lets do a "hooray" for this bill.

The rich managed to keep it at bay for years, passed in 2010, it will now go into effect in July of this year.

emarine

Yep the rich are starting to sweat it, All those fat cat fiscal conservative money hiding non tax paying deficit dodgers might have to start paying up, Its gona make Mitt Romney cry, maybe that's why trickle down never worked.. they hid all the money.

alex Loc: michigan now imperial beach californa

I don't suppose you even stop to consider that most of those rich you criticize are the same commucrats you v**e for

emarine

Maybe, I hope they post every elected official with offshore money on the front page of the New York Times

lpnmajor Loc: Arkansas

It will never pass in the Senate - they would have to report THEIR money - so.. it ain't happenin'.

permafrost Loc: Minnesota

Should be a done deal. Bill was passed in 2010, only now getting put into effect.

Artemis

I*****l a***ns may be takers, which needs to be resolved, but the wealthy who use foreign cheap employment, earn their profits from US consumers and then hide their "taxable profits in foreign accounts are more apprehensible. Considering these so called "Corporations Are People Too" with protective rights as you or I, yet they have no loyalty to America. Their amount of taking has an extreme negative impact on us.

Again not only for untaxed money but also for not employing Americans.

cesspool jones Loc: atlanta

this bill assumes EVERYONE and EVERY CORPERATION iz shady and evil. since big brother can't figure out who' who when it comes to crime...let's just punish `em all. this bill is based on assumption that 'capitalism' iz nothing but evil. it is very easy to pervert...but to assume all capitalism iz crooked just goes to show how the left-wing sector of this country must be crushed beyond recognition. all you assholes who agree with this law NEED TO BE DEPORTED!!!!!

Tyster

What a bunch of hooey! You cannot "hide" money in an off-shore account. If the origination of the funds were from the US, there is tracking of t***sfers and they are subject to US taxation. The accusations against Romney and others for hiding funds was baloney. The funds that were in off shore accounts were there because of earnings made in foreign companies that had been invested in for profits. Until the money is re-patrioted to the US it is not taxable. Before you point fingers at the rich, realize that the same option is open to any American citizen and I have seen many in the "middle class" take advantage of working overseas, retaining their American citizenship - but paying no taxes on their earnings.

Therefore, those companies that make investments overseas, and recognize a profit (often subject to foreign taxes) prefer to leave the funds offshore for later investments. If the money was not made in the US, has not been sent back to the US (at which point it is subject to tax), then why should Uncle Sam have his talons in it? Avoiding taxes is not illegal - or even immoral. Sometimes it just makes good sense.

dietguy

And you assholes who don't believe we have the right to disagree should keep your mouth shut. WE DO have the right to disagree. Move on to something where there is actually and argument to be made. This will keep those corps. who are crooked(how ever many there are) and those who might think of skirting the la in check. At least that is the idea.

dietguy

In the first place, your assertion that all monies in offshore accts.is from foreign investments is specious. Such is not the case. Also, while available to all, unless you have a LARGE amt. to put in, you cannot even open an acct. They wont talk to you. Don't want to waste their time. Legal and right are not always the same thing. Remember that most of the accounting done by Enron WAS legal at the time.

Tyster

I never said that ALL money in off-shore accounts was from foreign sources. However, generally, if the money was t***sferred from a US source, particularly in large sums, there is tracking on it already. If the accounting is done properly, the amounts that are being t***sferred have already been accounted for from income, investments, etc. The mere existence of an offshore account is not proof of nefarious dealings.

cesspool jones Loc: atlanta

anyone who uses the tools that the good lord gave them to prosper and get better iz evil nowadays to democrats. not one republican v**ed for this and if law stays...i'm sotty, the gloves need to come off!!!!!

Tyster

Your assertion regarding Enron is not true. Why do you think that some people went to jail? The problem with the Enron mess was something that I had heard spoken about back in 1985 at a conference. Unfortunately, I cannot recall his name at the moment but it was recognizable. As he said, when a Company makes a deal with its auditors to complete the audit for $100,000 and with their Management Advisory Department for $2Million... which department do you think has more sway on the audit?