Obama's plan to close tax loopholes for companies operating offshore is probably the most important initiative of this era. It would recapture revenues and decrease the deficit, possibly even funding bnew/b programs. We shall see. What is in it for you is this. ... If they expire taxes will go up for everyone, the tax credit on children will go back down, bestate/b tax maximum will go back up to 60%, marriage penalty will be revived, and capital gains taxes will increase. ...
