Table of Contents
- Obama: I will use veto pen and defend gains in healthcare and environment
- Price for a
- White House pushes Obama tax plan as Republicans line up to voice opposition
- Obama will propose mandatory tax on US companies’ earnings held overseas
- Barack Obama sets out plan to tax US companies on $2tn profits held abroad
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Obama: I will use veto pen and defend gains in healthcare and environment
At the beginning of the article, Dan Roberts displays Barack Obama’s pledge to conduct 2014 providing particular administrative orders, finding a way around Congress. In 2015, the president of the United States has informed that he would be forced to use his right for veto in order to keep Congress from rejecting his requirements (Roberts, 2014, n. p.). In his interview, Obama stated that he is aimed to block attempts of the Republicans to control the Senate in order to cancel his domestic reforms. The president did not have an opportunity to use the veto pen because the Senate already blocked legislation that he objected. At the same time, the Democrats’ defeat in the elections provides Republicans with a chance to pass legislation. Moreover, Obama pointed out that the policy of the White House became more confrontational. The president has also emphasized some of his achievements that now provide him with an opportunity to focus on long-term projects. Furthermore, Obama stated that opportunity to find compromise with Republicans concerning certain issues, particularly immigration, was small. The president also mentioned the case of police and communities misunderstanding based on racial division. Additionally, Obama’s purpose is to reach out to white voters who have not seen economical progress in their lives.
Thereby, regarding this article, Obama’s position becomes pretty clear. Compared to the previous year, the policy of the president has become more argumentative and determined. Thus, Obama is aimed to use his veto pen if his legislation will be objected by Congress. Although misunderstandings and lack of agreement that exist between the president of the United States and the Republicans are not new, Obama informed that he will block their efforts to govern the Senate. At the same time, the Republicans have an opportunity to pass legislation due to the collapse of the Democrats in the elections. Thereby, it becomes obvious that the tension between Obama and the Republicans will grow.
White House pushes Obama tax plan as Republicans line up to voice opposition
In his three-point plan, the president of the United States displays ways to assist American families concerning the question of work. At the same time, Obama contrasted his “middle-class economics” to the Republicans’ one (Pilkington, 2015, n. p.). Thus, Obama showed the Republicans’ differences of view regarding the issue of workplaces. The Republicans provide economy in such a way that the poor people can only gradually benefit as a result of the increasing income of the richest. Moreover, the White House has presented the preview of its plan for 2015 that aims to deprive the rich of possibility of not paying tax on the inheritance. Being in favor of the middle class, the plan for the coming year is pretty daring. While the Republicans are not satisfied with the tax plan, some politicians, particularly Marco Rubio, denounce Obama of following an outdated model of policy. In Rubio’s opinion, people who are successful should not pay the raised taxes because it would not make others happier. In contrast, Pfeiffer supported Obama’s intention to tax wealthier people to help the poor. However, many American workers suffer from stagnating wages and reduction of economic mobility. In addition, Obama knows that to secure the legacy of his two-term presidency, he must succeed regarding the situation among Americans of middle-income.
In his article, Pilkington considers the most topical issue all over the world – the wealth of the rich and the miserable condition of the poor. While Obama defends the opportunity for all people, the Republicans oppose his attempts to assist the middle class. The hostility between the president and the Republicans can be observed through much of his presidency. Nevertheless, Obama’s purpose sounds fair while the Republicans should care more about all the people, not only the richest one. Thus, if the Congress’ plan succeeds, the middle class will probably benefit.
Obama will propose mandatory tax on US companies’ earnings held overseas
Barack Obama intends to tax earnings of the U. S. corporations abroad in order to improve the status of America’s infrastructure. The White House budget regards a one-off 14% tax for the earnings received overseas (Lewis, 2015, n. p.). The White House aims to use this money to upgrade roads and bridges, as well as public transport. Moreover, the ways to avoid taxing will be eliminated in order for everyone to pay his or her part. For instance, some big corporations, particularly Microsoft, Google, and Apple, stayed away from paying the corporation tax from their earnings abroad. At the same time, the Republicans share the opinion of the White House regarding the issue of tax earnings received overseas. Furthermore, Obama insists for a 19% corporation tax to be pulled from all future earnings. The official stated that such measure would force firms to create jobs in America. Republicans would probably reject Obama’s budget plan, but the president aims to represent tax increases to support middle-class economics. In addition, Republican leaders will try to deny some proposals of the White House’s budget in order to protect the wealth of the rich from taxation.
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Therefore, intentions of the White House are pretty beneficial for the entire country. To the Republicans, taxing of the corporations’ income abroad is obviously a threat to the economy. While Republican leaders attempt to reject both the White House and Obama’s budget plans, the nation would apparently benefit from those changes. Being proposed to invest the obtained money in road infrastructure, the White House will increase the well-being of all people. However, the Republicans do not see the advantage from such actions for the rich.
Barack Obama sets out plan to tax US companies on $2tn profits held abroad
Barack Obama aims to tax the U. S. major corporations to pay tax of income they have offshore. This action will increase GDP of America for nearly 1.5% (Neate, 2015, n. p.). The president’s budget plan contains proposals to take both a 14% one-off tax and a 19% levy on future incomes of those companies. Thus, such gigant corporations like Apple and Microsoft may face with $10bn bills (Neate, 2015, n. p.). While both Democrats’ and Republicans’ attempt to find solution for the issue, American multinationals have greatly multiplied cash amounts overseas. At the same time, Republicans oppose proposals to tax overseas profits when the Democrats want to increase its number to 35%. It is not the first Obama’s attempt to tax offshore cash accounts in order to bring profits to the United States. Nevertheless, Republicans do not support these ideas that threaten the 2016 budget. On the contrary, the U. S. high taxation forces corporations to keep their foreign income overseas. It should be noted that both sides are aimed to find solution regarding the corporate tax reform. The president also stated that the 100 biggest financial companies and banks will be taxed in order to discourage the risk of future crisis.
Thus, the major U. S. companies will be taxed for their foreign incomes. Many proposals would obviously benefit the overall well-being of the United States. For instance, such extreme measures will force the U. S. corporations to create new job places in America instead of establishing them abroad. Moreover, the embodiment of Obama’s plan concerning the taxation of banks will protect the United States from the possible financial crisis. However, pursuing their own purposes, the Republicans are not very enthusiastic regarding Obama’s proposals to introduce tax on foreign income, and certainly they will reject many of his offers.
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