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Obama's Global Tax Raid
Wall Street Journal ^ | May 6, 2009 | Wall Street Journal

Posted on 05/06/2009 4:51:15 AM PDT by libstripper

President Obama revealed Monday that he's half a supply-sider. If only someone could explain to him the other half. We have a tax code, the President said, "that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York." That sounds like a great argument for lowering taxes on the guy creating jobs in Buffalo. Alas, that's not what he has in mind.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: businesstaxes; corporateincometax; multinationals; obama; taxes; taxincreases
The Usurper marches us all on to a Marxist Utopia.
1 posted on 05/06/2009 4:51:16 AM PDT by libstripper
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To: libstripper

Robert Heinlein said that we should not attribute to malice that which is more property attributable to stupidity, but don’t rule out malice. In Obama’s case, we should not rule out malice - the deliberate destruction of American ascendance.


2 posted on 05/06/2009 5:01:24 AM PDT by Daveinyork
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To: libstripper

This is nothing but political BS. There’s no way to enforce it, even if it would have the effect he says.

The real sad part is that instead of recognizing why money is parked elsewhere and fixing that problem, he will try to do the impossible instead of fixing the root problem of not having a competive tax code.

The problems from government spending binges are staring him right in the face. Too bad he just laughs it off, acting like Peter Pan: All you have to do is believe you can fly and you can.


3 posted on 05/06/2009 5:14:40 AM PDT by dajeeps
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To: Daveinyork

I think malice is the only possible motive. The sum total of all that this creature is doing cannot possibly be attributed to mere stupidity. No animal that stupid can read a teleprompter.


4 posted on 05/06/2009 5:16:16 AM PDT by RipSawyer (Change has come to America and all hope is gone.)
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To: dajeeps

Although he had a mother who abandoned him, leads a WH team of red diaper “lost boys”, never held a real job, and is beloved by besotted fairies, obama is no Peter Pan. At least Peter Pan was willing to fight the pirates.


5 posted on 05/06/2009 5:18:10 AM PDT by silverleaf ("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
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To: Daveinyork

Well, I hope any tax breaks that encourage American companies to offshore are done away with...offshoring is bad for the country...as for the rest of it...I don’t know.


6 posted on 05/06/2009 5:20:39 AM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: libstripper

It is a way to extort money from the companies. The Dems will make money. It’s the same kind of shake down scam Rev. Jackson did to get people on the boards of large corporations.
A threat in one area and a reaction in another.


7 posted on 05/06/2009 5:22:33 AM PDT by voveo
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To: silverleaf

You are right. Peter Pan didn’t lie his arse off either. Maybe Obama is his evil twin?


8 posted on 05/06/2009 5:24:53 AM PDT by dajeeps
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To: libstripper

The trouble with Obama is that he totally believes all of the RAT talking points they have been spewing for decades. I suspect most RATS know that their rhetoric wins them votes with the victim class but would create disaster if enacted. Someone in the RAT party needs to take him aside and explain that to him.


9 posted on 05/06/2009 6:23:45 AM PDT by Hacklehead (Liberalism is the art of taking what works, breaking it, and then blaming conservatives.)
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To: nyconse

What he is planning to do will discourage foreign investment in the US, as well as discourage domestic investment. What will happen is that companies that are large enough will further reduce their presence in the US, if it becomes more expensive, as it will, to have a presence in the US.

If, as Obama is proposing, corporations will be required to pay tax to two countries for the same income, the companies will eliminate activity in the country with the higher tax rate. That country, in a lot of cases, is the US.


10 posted on 05/06/2009 7:23:35 AM PDT by Daveinyork
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To: voveo

It’s not a way to extort money. It won’t collect very much money at all. It’s a way to destroy what is left of our industrial base.


11 posted on 05/06/2009 7:24:51 AM PDT by Daveinyork
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To: Daveinyork

I fail to see how eliminating tax breaks for offshoring will cause more jobs to go overseas as for the rest of it...maybe.


12 posted on 05/06/2009 7:35:27 AM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: Daveinyork

What industrial base? These guys killed the goose that laid the golden egg in American..ran off taking American jobs with them in order to make big profits overseas...leaving this country much poorer with no industrial base to speak of...now the time has come to pay the piper. Their global policies lead directly to the election of Obama and the ensuing socialism. So, I have no sympathy for them. What did they expect?


13 posted on 05/06/2009 7:40:47 AM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: nyconse

“I fail to see how eliminating tax breaks for offshoring will cause more jobs to go overseas as for the rest of it...maybe.”

If you read the WSJ article, you might understand, but, in short, if you make the use of capital less profitable by increasing the tax, the capital will migrate elsewhere, either in the relocation of whole enterprises, or their failure due to inability to compete with those located where the taxes are lower.


14 posted on 05/06/2009 7:40:55 AM PDT by Daveinyork
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To: nyconse

“leaving this country much poorer with no industrial base to speak of”

Come on. That’s a bit of an exaggeration, and you know it, or do you?


15 posted on 05/06/2009 7:42:03 AM PDT by Daveinyork
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To: Daveinyork

I read the entire article again to see if I missed something...I didn’t. As far as I can see, eliminating the tax credit for offshoring jobs would not hurt job creation in this country...my biggest concern. Now, countries that manufacture overseas in third world hell holes should relocate there and breath the polluted air and deal with the lack of political stability. If these traitor companies want to move their companies overseas and renounce their citizenship, let them. When this country comes to its senses and starts dealing with fair trade instead of what we have today...they can be replaced and tariffed...IBM has already moved to India anyway even without these tax changes.


16 posted on 05/06/2009 7:47:45 AM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: Daveinyork

Nope, look around you what industrial base is left? The globalist have destroyed this country and endangered us with unwise trading with China.


17 posted on 05/06/2009 7:49:10 AM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: nyconse

I just drove out to Chicago from York, PA. I passed a lot of factories that were still working, albeit at a slower pace. We have a large industrial base. It just produces different stuff from the turn of the twentieth century.


18 posted on 05/06/2009 10:12:02 AM PDT by Daveinyork
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To: nyconse

It’s not just “traitor companies” that will move offshore. It’s the investment capital that goes with it, including your 401K and pension plans, private, as well as public, because those managing it have an obligation to invest where the after-tax return is highest. If that is not in the US, then the capital goes overseas.


19 posted on 05/06/2009 10:18:23 AM PDT by Daveinyork
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To: nyconse

“The globalist have destroyed this country and endangered us with unwise trading with China.”

Call me an unwise globalist trading with China. I buy stuff made in china because I refuse to reduce my living standard by paying more for the same thing in order to support overpaid American union thugs. You are free to reduce your own living standard, if you choose. Keep your hands out of my pocket.


20 posted on 05/06/2009 10:21:41 AM PDT by Daveinyork
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To: Daveinyork

By buying stuff in China, you will reduce your standard of living in the end...communist are much worse then union-if you can’t see that...there is nothing more to say.


21 posted on 05/06/2009 1:09:21 PM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: Daveinyork

Really, well since the jobs are gone and my 401K is on life support...I don’t care. As for pensions...no one is going to get pensions anyway. Let these traitors leave, but make them leave for good...no American protections for them...let them live as citizens where they do business.


22 posted on 05/06/2009 1:11:09 PM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: Daveinyork

We have very little industrial base actually...none of it is doing well. Check it out the figures are widely available online. You are kidding yourself...you want to believe that by buying cheap foreign goods to support your lifestyle it really does not hurt the country and manufacturing, but it does. In the end it will hurt all Americans...white collar jobs are leaving also...what jobs are left for Americans?


23 posted on 05/06/2009 1:13:28 PM PDT by nyconse (When you buy something, make an investment in your country. Buy Amrican or bye bye America)
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To: nyconse

With what the politicians of both parties and the bureaucrats that they hire have been doing to this country for two generations, and what the unions have been doing to it for longer, I won’t be made to feel guilty for saving money that I work hard to earn. My cheapskate living is the least of our problems, and I won’t lower my standard of living by paying more for the same items, and then have to curtail spending for other items. You are free to do so. You can even call yourself a conservative, if you want. I won’t call you one. I’d call you a big government, whining, bleeding heart liberal


24 posted on 05/06/2009 2:37:34 PM PDT by Daveinyork
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To: nyconse

“let them live as citizens where they do business.”

Yeah, what the heck. Send all the jobs overseas, right?


25 posted on 05/06/2009 2:39:43 PM PDT by Daveinyork
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To: nyconse

“We have very little industrial base actually...none of it is doing well. Check it out the figures are widely available online.”

do you believe everything you read online?


26 posted on 05/06/2009 2:42:10 PM PDT by Daveinyork
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