Icahn Says Stop Corporate Inversions By Giving Tax Break

Icahn Says Stop Corporate Inversions By Giving Tax Break

Billionaire investor Carl Icahn has a strong opinion on almost every subject, especially politics. He’s also quite happy to share that opinion with anyone who will listen to or read what he has to say.

Icahn’s comments this week on how to stop future tax-motivated corporate inversions such as the recent Allergan – Pfizer deal are an illustrative case in point. On Monday, Icahn published an open letter in the op-ed section of the New York Times, and in the letter he offered his support for “international tax reform”, or at least the Schumer-Portman framework for international tax reform. The key plank of the new framework, of course, is a huge tax break that reduces the current 35% tax on U.S.-based multinationals when they repatriate their profits back home to only around 8 to 10%.

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Icahn supports legislation giving huge tax break to big companies to motivate them to “repatriate