Chris
08-08-2014, 09:41 AM
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Obama Aides Let Delphi Use Tax Tactic President Assails (http://www.bloomberg.com/news/2014-08-06/obama-let-delphi-avoid-taxes-in-tactic-president-assails.html)
President Barack Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. His own administration helped one $20 billion American company do just that.
As part of the bailout of the auto industry in 2009, Obama’s Treasury Department authorized spending $1.7 billion of government funds to get a bankrupt Michigan parts-maker back on its feet -- as a British company. While executives continue to run Delphi Automotive Plc (DLPH) from a Detroit suburb, the paper headquarters in England potentially reduces the company’s U.S. tax bill by as much as $110 million a year.
...
Obama Aides Let Delphi Use Tax Tactic President Assails (http://www.bloomberg.com/news/2014-08-06/obama-let-delphi-avoid-taxes-in-tactic-president-assails.html)
President Barack Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. His own administration helped one $20 billion American company do just that.
As part of the bailout of the auto industry in 2009, Obama’s Treasury Department authorized spending $1.7 billion of government funds to get a bankrupt Michigan parts-maker back on its feet -- as a British company. While executives continue to run Delphi Automotive Plc (DLPH) from a Detroit suburb, the paper headquarters in England potentially reduces the company’s U.S. tax bill by as much as $110 million a year.
...