Icahn launches super PAC with $150 million, biggest one-time injection

[uawchild]

Source: Reuters

Billionaire investor activist Carl Icahn tweeted on Wednesday that he is forming a Super PAC with an initial commitment of $150 million, representing the biggest one-time injection of money in the history of such political action committees.

Icahn, who supports presidential candidate Donald Trump, said he is targeting "inversions," which occur when a company changes its domicile, often outside the United States, to take advantage of lower tax rates elsewhere.

"Right now, as we speak, there are many companies planning to leave this country," Icahn said in an interview with CNBC. "It's so simple to do something about it, it's a no-brainer."


Icahn said on CNBC that the incentive for companies to leave the U.S. via inversion deals could be eliminated by legislation allowing big companies to repatriate funds held offshore at a discounted tax rate - an approach also favored by Trump.

Read more: http://www.reuters.com/article/2015/10/21/us-usa-election-icahn-idUSKCN0SF2AK20151021

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Citizen's United continues to haunt us. Tell me again how we are not an oligarchy.

When I was reading this article, I was saying ok... he's targeting inversions... ok... till I came to this: Icahn said on CNBC that the incentive for companies to leave the U.S. via inversion deals could be eliminated by legislation allowing big companies to repatriate funds held offshore at a discounted tax rate - an approach also favored by Trump.

Sure, that's the solution, more tax breaks for the 1%. /sarcasm

[onehandle]

1. He's a major dick.

Icahn — whose net worth is $21.6 billion, according to Forbes — has endorsed Republican presidential candidate Donald Trump, who has repeatedly mentioned him as a potential Treasury secretary, a lead negotiator of trade deals with China and Japan, or both.

"I think at this moment in time, he's the only candidate that speaks out about the country's problems," Icahn said of Trump in September.

[Erich Bloodaxe BSN]

2. You got it in one. He doesn't give a crap about inversions. He wants a tax amnesty to allow him

and his buddies to bring back billions without the US taking the taxes owed on it.

[randys1]

3. I dont blame him, if I had 21 billion dollars my biggest concern would be it isnt enough

I feel him

[denverbill]

4. Amnesty for corporate tax cheats. I'm sure it's worth $150 million investment for Icahn.

[KamaAina]

5. Just what tRump needs. More megabuck$$$.

[BootinUp]

6. I assume he would benefit from a change in the law by an amount in excess of 150 mil. nt

[geretogo]

7. Holding elections in a Corporate Oligarchy ; why ? The Oligarchs own it all and rule us all .

Is there a free and democratic country with a government of the people , by the people
and for the people left on this Corporatized planet ? I'm still looking .

[cstanleytech]

8. I think allowing companies to have lower rates to bring money back is fine

provided all of their employees are earning an actual living wage of atleast 15 bucks an hour and 40 hours a week.