The end of tax deferral

President Obama has introduced a bill to raise $100 billion in tax revenue by eliminating tax deferrals for business that conduct sales outside the U.S. While the rest of the world would not adhere to these outrageous laws, U.S. companies would, thereby reducing the ability of U.S. firms to compete oversees, leading to less output and diminishing job opportunities. This video made by the Tax Foundation sums it up quite well: