Gag-Worthy

In another hurl-inducing move, Team Obama is going after tax cheats!

President Obama on Monday spelled out his plans to close corporate tax loopholes on U.S. multinational corporations and crack down on overseas tax havens.

The goal is to help create new jobs in the United States and make the tax code fairer.

But tax policy experts and corporate lobbyists say such measures, unless accompanied by a reduction in the corporate tax rate, will push more companies to move their operations — and jobs - overseas to more tax friendly countries.

The White House and Treasury Department laid out three proposals that they say will eliminate the current tax advantages U.S.-based multinationals get for investing and creating jobs abroad.

What's that saying? "Physician, heal thyself?" Who will be administering this policy? Why, none other than Tricky Tim Geithner, Mr. Tax Cheat himself! What's next? Bill Clinton as head of the new Obama Ethics Commission?