Obama’s tax move: Threat to jobs

IF President Barack Obama’s plan to target money made by US multinationals outside of America is successful then the move may have serious implications for our economy and tens of thousands of Irish jobs. 

That grim prospect is made remote though by the likelihood the Republican-controlled Congress will oppose the proposals.

Mr Obama announced a scheme on Saturday night that would impose a minimum tax of 19% on future overseas earnings and a 14% tax on profits accumulated by the firms outside the US.