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The IRS Running Amok: Forcing American Banks to Put Foreign Tax Law Above U.S. Tax Law

Tuesday, 7 Jun 2011 | 9:36 AM ET

Here's the latest from my friend and frequent Kudlow Report guest Dan Mitchell.

According to Dan:

Even though it violates existing law, the IRS is seeking to impose a regulation that will discourage foreign investment in the U.S. economy and undermine the competitiveness of American banks. This CF&P Foundation video provides five reasons why this proposal is misguided, including the risk to innocent people living under corrupt and tyrannical governments.

Questions? Comments, send your emails to: lkudlow@kudlow.com

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  • Lawrence Kudlow is a CNBC senior contributor. Previously, Kudlow was anchor of CNBC's prime-time program "The Kudlow Report"