Obama's campaign promise to make tax's fare for the common American. Secretary Geithner opens with remarks like that and went on to announce that tax loop holes for corporations and individuals with assets over seas would be closed.
No longer will US companies be able to have overseas subsidiaries not pay taxes in the US. No longer will large companies and well to do individuals be able to evade the rules other Americans must live by everyday.
American companies need to invest and keep Jobs at home in the US. The closing of these tax loopholes will force companies manufacturing overseas in order to evade taxes are basically Tax Evaders. Most Americans would feel the wrath of the IRS if they tried to hide money.
The American Government will no longer provide tax incentives to manufacture overseas when American companies need to invest in the US to build a strong economy at home.
The IRS will take unprecedented action to upgrade tax enforcement by adding up to 800 new agents.
The IRS will aggressively prosecute those intentionality try to hide assets and income.
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