So they want to prevent companies and wealthy individuals from sheltering assets offshore? Let the GOP wailing begin! We are sure to see, any moment now, complaints that this is a tax increase. No kidding, huh? They’re not paying taxes on income now so if they do in the future, of course it will increase their tax burden. That’s because they’re gaming the rules to evade taxes to the tune of $210 billion, according to the President’s remarks. Why should the rest of us have to make up that short fall?
Update:
WSJ.com reports a GOP congressional aid calling it a “revenue grab”, that didn’t take very long.
Update II:
The Huffington Post reports the lies distortions are already flying.
