Posted on 03/30/2012 9:13:25 AM PDT by i88schwartz
"For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%," Vice President Joe Biden said at a manufacturing plant in Davenport, Iowa this week.
"We want to create a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home," Biden said at a campaign event.
(Excerpt) Read more at realclearpolitics.com ...
Quick. Someone crate a website where we can vent our frustrations by slappying the glue out of Joe and Obozo. Hillary had a great one. I practically wore it out.
Once again: when government allows any person or any company keep a greater percentage of what they have already earned it is not a "subsidy", and it does not have to be "paid for" by ANYONE, you plug-headed socialist moron! IT IS NOT YOUR FREAKIN' MONEY.
Instead, why don't we have a global minimum tax on thieving politicians?
One heart beat away from the Presidency. Staggering.
Biden is a very confused man. And, by the applause, it seems that many Americans are very confused as well.
First, it is insane to characterize the imposition of any tax, even a 1% tax, as “providing a larger subsidy for investing abroad than investing at home”. Taxes are forced exactions from private interests by governments. Subsidies are government grants of money or other resources to private interests.
Second, his idea of “creat[ing] global minimum tax” is pure demagoguery. White House National Economic Council direct Gene Sperling first mentioned “global minimum tax” last month, but has not elaborated much on what it means. Does it reflect an extension of the Obama Administration’s imperial hubris, or merely a massive tax hike on American companies that do business abroad? Either way, it’s stupid appeal to the economically ignorant.
Third, the whole idea of taxing “manufacturing” earnings at a rate 20% than other earnings and taxing “high-tech manufacturing” at a rate 20% below that is utter incompatible with the idea of equality before the law. I know that this is really an archaic idea, but some folks still think it has merit.
The president is a high tech manufacturer? Of lost golf balls?
And they were worried about Sarah Palin.
“One heart beat away from the Presidency. Staggering.”
And yet, he wouldn’t have dared say this unless it was “blessed”.
Go Ahead Joe we can’t be concerned right now with your Tax Issue. We must hash out this Trayvon Martin thing first. [/sarc]
They don’t want people and companies to be able to vote with their feet - no place to run.
As the saying goes; ‘you can’t make this s**t up’!
How the hell do they plan on enforcing this without a “One World Government”.... Oh the UN....
Good luck squeezing tax monies out of Cuba and North Korea....
In Australia the leftists politician's got the carbon Tax implemented ....but the voters are throwing them out....
See this FR thread:
There go those gravy trains in Queensland & Victoria ( Carbon Tax Rejected)
Global communism never sleeps. But sometimes it slips.
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