Obama Is About To Modify Tax Code System

Honorable President Barack Obama has taken drastic measures to bring a massive change to the present tax code system. As per the current overseas tax system, those who like to open new jobs in Bangalore and Bombay in India will get the advantage of paying low taxes in comparison to the domestic entrepreneurs. According to Obama, this is very unfair and it must be modified. Though multinational companies are trying to occupy the prestigious niche in the international market, it is not better to overtake domestic rivals by minimizing their rights. By moving jobs to other countries like India, the scope of employ-ability in America will get bottle-necked. He wants to block the unfair transfer of the profits of the country to other states by doing injustice to the domestic companies. However, economists and tax policy experts have given their opinions that unless the higher authority doesn't take necessary steps to reduce the corporate tax rate, the multinational compani es will prefer to shift jobs to other tax friendly countries.