Obama wants to increase taxes on companies who have foreign business

IBD:
Leadership: A global tax is the latest example of the idiocy that defines Joseph Biden's vice presidency. Dopiness a heartbeat away from the presidency shouldn't be tolerated.
If Arnold Schwarzenegger is the Terminator, promising "I'll be back," the best moniker for Joe Biden might be "the Dumb-Biden-ator," with the motto "I'll be stupid."
At a Davenport, Iowa, manufacturing plant last week, Biden declared "We're not done" of the Obama economic program that has saddled Americans with a $1.3 trillion deficit and $15 trillion national debt, with plenty more to come.
"We want to create what's called a global minimum tax," he said, "because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home."
According to the White House, this refers to all U.S. companies being subjected to a minimum tax on overseas profits, to prevent them from taking advantage of other countries' low tax rates. President Obama's National Economic Council director Gene Sperling also used the term "global minimum tax" last month.
... 
This idea must have been suggested by someone who is both desperate and not very smart.  Do they really want to drive businesses to move their corporate headquarters to Switzerland or Dubai?   Foreign profits are already staying over in other countries because our taxes are too high.  This would only move the businesses out of the US.  This administration is a danger to itself and this country.

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