Clinton Offers New 'Exit Tax' on US-Foreign Company Mergers

ABC News reports:

Hillary Clinton on Wednesday will unveil a proposal for a new "exit tax" aimed at cracking down on corporate inversions, a practice that permits U.S. companies to merge with corporations overseas to lower their tax bill.

The new tax would be part of a broader effort to target what experts say is roughly $2 trillion in profits U.S. companies are hoarding abroad to reduce their taxes. The Democratic presidential front-runner will propose spending the revenue raised by the new tax to boost manufacturing jobs in the U.S., campaign aides said. They spoke on condition of anonymity ahead of the official campaign announcement.

Clinton's proposals are part of the economic agenda her campaign has been rolling out this month. They include boosting infrastructure spending by $275 billion and making other new investments in research and clean energy.

When you hear things like this: you know you are un-competitive.