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Medicare’s own health looking better, report says

Source: 49 News Topeka

WASHINGTON (AP) — Medicare’s financial future is looking brighter despite a growing wave of baby boomers reaching retirement. Getting relief from a slowdown in health care spending, the program’s giant hospital trust fund won’t be exhausted until 2030, the government said Monday. That’s four years later than last year’s estimate. As for Social Security, its massive retirement program will remain solvent until 2034, although di ...
Full article at: 49 News Topeka 12 hours ago, 3:43pm CDT
 


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Obama Scolds U.S. Corporations For Evading Taxes: 'I Don't Care If It's Legal, It's Wrong'

Source: Politics - The Huffington Post

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." Obama and congressional Democrats are pushing to severely limit such deals, a move resi ...
Full article at: Politics - The Huffington Post 4 days ago, 4:34pm CDT
 

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Obama calls anew for limits on US company mergers overseas, says it’s a question of patriotism

Source: Canadian Business Online

LOS ANGELES, Calif. – 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.” Obama and congressional Democrats are pushing to severely limit such deals, a move resisted by Republicans who argue the entire corporate tax code needs an overhaul. At issue are co ...
Full article at: Canadian Business Online 4 days ago, 4:32pm CDT
 

Obama wants limits on US company mergers abroad

Source: 49 News Topeka

  LOS ANGELES (AP) — Striking a populist stand ahead of the midterm elections, President Barack Obama is demanding “economic patriotism” from American corporations that seek overseas mergers to avoid U.S. taxes. Obama and congressional Democrats are pushing to severely limit such deals, a move resisted by Republicans who argue the entire corporate tax code needs an overhaul. Obama was scheduled to address the issue in remarks Thursday afternoon at a t ...
Full article at: 49 News Topeka 4 days ago, 2:52pm CDT
 

Abbvie: Just One More US Pharma Company Opting For Tax Inversion

Source: bidness etc

As of late, it has been raining mergers and acquisitions in the healthcare industry. About 20 deals have been completed or are pending approval since the beginning of 2012. These transactions involve companies that want to avoid the 35% tax rate in the US and gain access to foreign cash holdings. AbbVie Inc. (ABBV) is the latest US company to have confirmed relocation, following the agreement with Irish Drug-maker Shire PLC (SHP) for $54.8 billion ...
Full article at: bidness etc 6 days ago, 6:54am CDT
 

As more join Medtronic in 'inversions' that cut taxes, Senate scrutiny coming

Source: Minnpost.com

The Senate Finance Committee has scheduled a hearing for Tuesday on international competitiveness and the rush by U.S. corporations to move their headquarters abroad through "inversions" that reduce their taxes. The inversions are legal under U.S. tax law, but they have drawn sharp criticism because they reduce federal tax revenue and, some argue, represent a withdrawal of support for the country that provided the environment that enabled them to succeed. Fridley-based Medt ...
Full article at: Minnpost.com Jul 21 2014, 9:51am CDT
 

Sen. Elizabeth Warren to liberals: I'm fighting back

Source: Sacramento Bee

Sen. Elizabeth Warren wowed a friendly crowd of influential liberal activists Friday in Detroit, pledging to fight against Republicans and the “sleazy lobbyists” she says have rigged the rules in Washington and harmed the middle class. Sen. Elizabeth Warren, D-Mass., questions Treasury Secretary Jacob Lew as he testifies at a Capitol Hill hearing examining the Financial Stability Oversight Council's annual report to Cong ...
Full article at: Sacramento Bee Jul 18 2014, 3:19pm CDT
 

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Treasury secretary seeks to prevent foreign deals like Salix merger

Source: Triangle Business Journal

The Obama administration came out in sharp opposition to the kind of business merger that Raleigh’s Salix Pharmaceuticals announced on July 8 and Treasury Secretary Jacob Lew urged Congress to pass retroactive legislation that could put the deal in jeopardy. Salix (Nasdaq: SLXP) announced plans to merge with a subsidiary of Italian-based Cosmo Pharmaceuticals in a deal that will allow Salix to move the official headquar ...
Full article at: Triangle Business Journal Jul 17 2014, 8:22am CDT
 

White House moves to stop Medtronic's Irish tax strategy

Source: Minnpost.com

“Retroactive,” no less. Jim Spencer in the Strib reports, “The Obama administration wants to stop corporate deals like a proposed Medtronic acquisition that could enable the company to save millions in U.S. taxes by shifting its headquarters to Ireland. Treasury Secretary Jacob Lew this week urged the finance committees of both chambers of Congress to push legislation that restricts the ability of U.S. corporations to move their headquarters abroad to lower their tax bills. Lew wants the ...
Full article at: Minnpost.com Jul 17 2014, 6:00am CDT
 

Murdoch slams US push to block firms moving overseas for lower taxes

Source: Channel News Asia

SYDNEY: Global media mogul Rupert Murdoch slammed the US government on Thursday for pushing to stop companies from moving overseas to avoid paying taxes, saying it was "not the way to achieve economic growth".Murdoch, who is in Australia for the B20 summit of business leaders, said such moves by US firms were not surprising as other nations such as Ireland offered lower corporate tax rates. Media mogul Rupert Murdoch. (AFP file/William West) ...
Full article at: Channel News Asia Jul 17 2014, 4:29am CDT
 



 

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