Obama's proposed taxes on offshore corporate earnings

I don't have 2 trillion off shore... I think I'm OK! Go get'em! I'm tired of carrying the load for all these corporate welfare billionaires! Expose the real takers and make them pay for the free ride they have enjoyed since 2001! A ONE TIME Tax??? Make it permanent... Makes perfect sense. Helps the economy, helps the working class, ultimately the wealthy and corporations will get most of it back in the long run. Win, win, win. These companies can pay for the higher taxes with the subsidies they get from our Government. A 14% tax on over 32 trillion dollars sitting offshore is a reward, they should actually be punished for trying to avoid taxes altogether or at least pay the going rate which is 35%! 

I personally believe that they should pay 50% and it should be paid out of their in-country profits until they bring it home on top of their regular taxes! Or the 14% on offshore accounts should be assessed quarterly at least. We should not be rewarding companies for doing what they should have been doing all along! Just think, you have many trillion dollars in profits...and you are resisting paying 14% taxes over 2 trillion. Gosh...what a hardship! 

President Barack Obama's fiscal 2016 budget will seek new taxes on trillions of dollars in profits accumulated overseas by U.S. companies, and a new approach to taxing foreign profits in the future, but Republicans were skeptical of the plan. Reviving a long-running debate about corporate tax avoidance, Obama will target a loophole that lets companies pay no tax on earnings held abroad, the White House said. But his proposal was certain to encounter stiff resistance from Republicans.In his budget plan Obama is calling for a one-time, 14 percent tax on an estimated $2.1 trillion in profits piled up abroad over the years by multinationals such as General Electric (GE.N), Microsoft (MSFT.O), Pfizer Inc (PFE.N) and Apple Inc (AAPL.O). He is also seeking to impose a 19 percent tax on U.S. companies' future foreign earnings. At present, those earnings are supposed to be taxed at a 35-percent rate, but many companies avoid that through the loophole that defers taxation on active income that is not brought into the United States, or repatriated. The $238 billion raised from the one-time tax would fund repairs and improvements to roads, bridges, transit systems and freight networks that would replenish the Highway Trust Fund as part of a $478 billion package, the White House said. The annual budget proposal is as much a political document as a fiscal roadmap, requiring approval from Congress. Given Washington's current political division it is unlikely to become law.