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July 25, 2014

Obama wants limits on mergers abroad

  • At issue are companies that enter into arrangements with foreign companies, shifting their tax addresses overseas while retaining their U.S. headquarters.

    • LOS ANGELES (AP) — Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded “economic patriotism” from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers.

    “I don't care if it's legal,” Obama declared. “It's wrong.”


     
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