President Obama and Treasury Secretary Jack Lew are preparing to rewrite tax law. They want to crack down on corporate inversions, which is when companies merge with foreign businesses and move operations overseas to avoid the United States’ punishing tax policies. Obama admitted that the practice is legal, and that he didn’t think he could take “administrative action to address inversion.” But that was last week.

But lo, on Tuesday a spokeswoman announced that Treasury “is reviewing a broad range of authorities for possible administrative actions” to limit inversions “as well as approaches that could meaningfully reduce the tax benefits after inversions take place.”

Hello? That sure sounds like rewriting tax law by executive fiat, which violates the Constitution’s separation of powers. The rewrite is all the more legally suspicious since no one at Treasury or the Justice Department seems to have been aware of this power before Mr. Obama began denouncing the “unpatriotic tax loophole.” From where does Mr. Lew derive this power to act like a one-man Ways and Means Committee? (Read More)

No doubt whatever they come up with will make the United States an even worse place to do business.

Read more:http://lonelyconservative.com/2014/08/no...Conservative%29