The United States corporate tax rate is already the world's highest.
Now Obama wants new taxation on U.S. companies foreign earnings.
Obama's either a clueless idiot, or he's making a determined effort to encourage more corporations to relocate their headquarters to more tax-advantaged locations off-shore. And there is a third possibility...
The president can't enact new taxation on his own (when last we checked). Let's hope Congress is smart enough to deny the president this economic death-blow plan.
In all likelihood, Obama's foreign earnings tax plan has little chance of passage. He's just pandering to economic illiterates, hoping stupid sheeple take the bait in an ongoing campaign to ratchet up class war in America.