oops. capitol = capital, but that may have been a Freudian slip.
Bingo!!! You have just hit the big enchilada...
The day they get that inacted is the day they come afeter ALL of our personal net worth...
That is the day we will ALL revolt is some way shape or fashion...
And it will not be pretty...
Sooner or later Obama will try and take these balances for the “greater good.”
Yes, let no crisis go to waste. /sarc
The conditions are right for a major power grab. Americans should be very afraid of more central planning by an administration that has no respect for individual freedom. Your point is very well taken.
Sooner or later Obama will try and take these balances for the “greater good.” It might take the form of a capitol asset tax, an inactive balance tax, or some other scheme
It would have to be under martial law since any law that even breathes an idea like that will cause Category V winds blowing that money out of the US and into anywhere else on the planet.
And prior to that, the assets will be spend outside of the US. And the usual crowd will whine about how those evil businesses are exploiting cheap labor or some such nonsense when, in fact, they are merely seeking friendlier nations in which to invest.
The left does everything in its power to run business away - then whines when business does run away.
His hero, FDR, faced the same situation and tried very hard for a corporate retained earnings tax. It was one of the few times that he failed.