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June 17, 2009
Putin Slams Obama Tax Proposal
Russian Prime Minister Vladimir Putin shows his new car, a locally-produced Niva SUV, to the media in his Black Sea residence in Sochi, southern Russia. Photo by AP.
Putin Slams Obama Tax Proposal
Prime Minister Vladimir Putin on Monday criticized U.S. President Barack Obama's plan to raise taxes on U.S. companies' foreign operations, saying it would amount to double taxation that will hurt the global economy.
"This is a serious decision for the world economy," Putin said at a meeting of the Presidium, the government said on its web site. "If taxes are imposed on all companies working abroad, then it will mean the total destruction of the system for avoiding double taxation."
Putin instructed Finance Minister Alexei Kudrin to hold discussions on the plan with Obama's administration.
Kudrin met with finance ministers from the Group of Eight over the weekend and signed an agreement with Italy outlining a system for avoiding double taxation.
Obama has proposed canceling a provision of the tax code that allows foreign subsidiaries of U.S. corporations to defer tax payments on money that is reinvested in local operations.
"It's a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York," he said in May, referring to the current state of the U.S. tax code, media reported.
Obama is scheduled to make his first official visit to Moscow on July 6-8.
Wild Thing's comment........
It’s pretty bad when the leader of a nation like Russia is saying this to the president of the USA. The funny thing is he may do it himself but he does not want the US to go socialist.
Putin has seized many companies, and likely ordered the murder of some former CEOs, one such case in London with radioactive poison of some kind. Was it two or three years ago, something like that.
There is a difference though, I can't see Putin wanting to destroy his country. He has no chip on his shoulder about the Russian Flag, the Russian anthem, and probably doesn't hate his military .......yes there is a difference.
Obama has every intenion of destroying America and making one that he wants, the socialist, communist, marxist model. And throw in the Muslims and who knows Shira law as well by the time he is done.
Posted by Wild Thing at June 17, 2009 05:40 AM
Comments
Of course Putin doesn't want the US to go Socialist. As a former KGB agent, he knows just how valuable a Free Enterprise Capitalistic America is to Russia. As a Capitalistic nation, our innovations and design have flourish, allowing the Russians to steal our designs and technology. As a Socialist nation, American innovation and designs will stifle. With Russia and Europe steeped in Socialism and now the US heading in that direction, advances in technology and medicine will slow immensely.
Posted by: BobF at June 17, 2009 09:40 AM
I think Putin just does not like obama. Egotists are not compatible.
obama wants all the money he can get through taxes. The smart thing to do for business would be to immediately halve the corporate tax. Then halve it again. That would bring American business and jobs back to America and really stimulate the economy. It would also open the door for foreign companies to locate in America.
Instead, obama is going for heavy taxation. The socialist answer to financial problems.
Posted by: TomR at June 17, 2009 11:27 AM
How about that, the Communist knows more about economics that obama. Of course he's thinking about himself, there are American companies in Russia that would have to downsize because of obama's punitive Taxes, and ultimately hurt the Russian economy.
Posted by: Mark at June 17, 2009 12:09 PM
Maybe Putin recognizes that the United States has been the goose that laid the golden eggs around the world for the better part of a hundred years and that Obama is in the preparation of a cassoulet featuring that goose. I'll give him credit for not being totally stupid, can't say the same about TOTUS.
Posted by: Jack at June 17, 2009 12:36 PM
