Obama proposes tax on forex earnings to discourage outsourcing

February 23, 2012 14:15

Stepping up his tirade against outsourcing in the election-year, US President Barack Obama has proposed to establish a new minimum tax on foreign
earnings to discourage large US firms from shipping jobs to countries like India.
The proposed move would make it a bit tough for US multinationals to ship jobs overseas and will give incentives to those who bring operations back into the US.

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