VOA标准英语2009-Obama Seeks Tax Reform on Offshore Business Deal

President Barack Obama wants to crack down on U.S. companies and wealthy investors¹ who avoid federal taxes through offshore² business dealings. Mr. Obama unveiled a plan that aims to boost U.S. tax revenue and preserve American jobs.
　
President Barack Obama and Treasury³ Secretary Timothy Geithner, make statements on tax reform, 04 May 2009

President Obama says the U.S. tax code is cheating the United States out of good-paying jobs and badly needed funds.

"It is a tax code that makes it all too easy for a small number of individuals and companies to abuse overseas tax havens⁴ to avoid paying any taxes at all," the president said. "And it is a tax code that says you should pay lower taxes if you create a job in Bangalore, India than if you create one in Buffalo⁵, New York."

Many hide monies in Cayman Islands

The president noted⁶ that, in the Cayman Islands, for instance, a single address houses thousands of corporations, few of which have a physical presence on the Caribbean islands.

To correct the situation, the president wants to rescind⁷ tax breaks that foster job creation overseas, and re-channel funds toward domestic job creation, including new investments in education. Mr. Obama also wants to curb⁸ tax advantages for foreign investing, close tax loopholes on offshore business dealings, and boost overall federal tax enforcement.

Appearing with Treasury Secretary Timothy Geithner, the president said he wants U.S. businesses to remain engaged and competitive on the world stage, but that offshore tax havens must be eliminated.

"We will stop letting American companies that create jobs overseas take deductions⁹ on their expenses when they do not pay any American taxes on their profits," president Obama said. "And we will use the savings¹⁰ to give tax cuts to companies that are investing in research and development here at home, so we can jump-start job creation, foster innovation, and enhance America's competitiveness."

Analyst¹¹: proposal is impractical¹², counterproductive

The president said the proposal will generate $210 billion in revenue over the next 10 years.

The plan is generating few cheers from corporate¹³ America. Some business groups complain that the proposed tax changes will impose new costs on U.S. firms and make them less competitive in the global marketplace.

Former Federal Reserve economist¹⁴ Alan Viard tells VOA that efforts to crack down on tax evasion¹⁵ and save American jobs are always politically popular. But he says the administration's proposal will prove impractical and counterproductive when applied¹⁶ to the business world.

"This notion that you do not want U.S. firms going overseas is really a mistake to begin with, because in many cases the operations abroad and the operations at home are actually complimentary¹⁷ to each other," Viard said. When U.S. firms create jobs abroad, they are often expanding opportunities to create jobs in the United States, as well. It does not have to be a choice between the two."

The president's plan will need congressional approval to go into effect.

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

3 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

4 havens   

n.港口，安全地方( haven的名词复数 )v.港口，安全地方( haven的第三人称单数 )

参考例句：

• Your twenty havens would back out at the last minute anyhow. 你那二十个避难所到了最后一分钟也要不认帐。 来自辞典例句
• Using offshore havens to avoid taxes and investor protections. 使用海面的港口避免税和投资者保护。 来自互联网

5 buffalo   

n.(北美)野牛；(亚洲)水牛

参考例句：

• Asian buffalo isn't as wild as that of America's. 亚洲水牛比美洲水牛温顺些。
• The boots are made of buffalo hide. 这双靴子是由水牛皮制成的。

6 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

7 rescind   

v.废除，取消

参考例句：

• They accepted his advice and rescinded the original plan.他们听从了他的劝告，撤销了原计划。
• Trade Union leaders have demanded the government rescind the price rise.工会领导已经要求政府阻止价格上涨。

8 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

9 deductions   

扣除( deduction的名词复数 )； 结论； 扣除的量； 推演

参考例句：

• Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现，而不怎么相信密码分析员的推断。
• You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促，毫无合适的演绎就仓促下结论。

10 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

11 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

12 impractical   

adj.不现实的，不实用的，不切实际的

参考例句：

• He was hopelessly impractical when it came to planning new projects.一到规划新项目，他就完全没有了实际操作的能力。
• An entirely rigid system is impractical.一套完全死板的体制是不实际的。

13 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

14 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

15 evasion   

n.逃避，偷漏(税)

参考例句：

• The movie star is in prison for tax evasion.那位影星因为逃税而坐牢。
• The act was passed as a safeguard against tax evasion.这项法案旨在防止逃税行为。

16 applied   

adj.应用的；v.应用，适用

参考例句：

• She plans to take a course in applied linguistics.她打算学习应用语言学课程。
• This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。

17 complimentary   

adj.赠送的，免费的，赞美的，恭维的

参考例句：

• She made some highly complimentary remarks about their school.她对他们的学校给予高度的评价。
• The supermarket operates a complimentary shuttle service.这家超市提供免费购物班车。