ABC’s Karl: Will ‘Hypocritical’ Obama Ask Dems To Return Donations From ‘Unpatriotic’ Companies Moving Overseas?
Photo Credit: NY Post
ABC reporter Jon Karl grilled deputy White House spokesman Eric Schultz about a new report showing how many executives who pursue corporate mergers overseas to avoid onerous U.S. tax laws — a move Obama has called “unpatriotic” — have donated millions to the Democratic Party and President Obama’s former campaigns.
On Wednesday, Bloomberg reported that top Obama and Democratic donors — including an investment banker who hosted a fundraiser for the president, a co-chairman of the 2012 Democratic National Convention and a bundler who raised $200,000 for Obama’s reelection campaign — are all guilty of pursuing “corporate inversions,” which Obama has called unpatriotic and is seeking to limit through executive actions.
“Is the president going to be asking Democrats to return money contributed, or seek to return money contribution, by some these corporate inversions?” Karl asked Schultz at a Martha’s Vineyard press conference.
“No,” Schultz said simply.
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Obama Won’t Return Money From Tax Deals He Dislikes
By Richard Rubin and Annie Linskey.
President Barack Obama won’t return campaign donations to executives, advisers and directors who have profited from offshore mergers that reduce corporate taxes using a technique he has called “unpatriotic.”
Responding to a Bloomberg News report that described connections between more than 20 Obama donors and the tax-cutting transactions, White House Deputy Press Secretary Eric Schultz said the president will keep the cash.
“We are not privy to the details and have no role in any individual company’s plans,” Schultz said yesterday at a briefing on Martha’s Vineyard where Obama is vacationing. “But what the president is focused on is stopping the problem.”
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