U.S. tax on corporate revenue earned abroad is deferred: Good going

By Money Matters Editors

The Obama administration has shelved plans to increase taxes on multinational corporations by more than $200 billion, The Wall Street Journal reported Tuesday, after businesses complained the taxes would decrease commercial activity and hurt the creation of jobs.

And to the above, the Editors of Money Matters say: smart move! Businesses will have a hard enough time both retaining existing employees and adjusting to the new, likely requirements under the upcoming heath care reform legislation. Outside of health care reform – which also has the potential to lower corporate health care premiums, long-term, if competition increases - this is no time to add to business mandates: their operational models are being stressed enough by the recession.