In order to stop billionaires and major corporations from evading the paying of taxes, an international tax regulation must be instituted. Such a measure will forbid the 1% from transferring their capital to foreign countries with lower tax rates. Even if Obama could some how tax these people at the rate he wants, and the rate they should rightly be taxed at, they would simply move their money out of the U.S. to a country with lower rates. They are free to manipulate the system and avoid the law and justice. This is constant throughout the world, and it must come to an end.
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