Posted on 11/13/2012 5:14:33 AM PST by Kaslin
The most expensive tax in the history of the world has been proposed by the Obama administration and to hear them tell the story, you’d think the rest of us should be grateful.
“We want to create a global minimum tax,” said vice president Joe Biden, “because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home.”
A global minimum tax is a tax on all profits made by nominally US companies that operate overseas. They operate overseas for various reasons, but one big reason is because corporate taxes are higher in the US than overseas. And to fix high corporate taxes in the US, the Obama administration proposes even HIGHER TAXES on corporations.
Yes: Obama thinks American taxpayers should be forced to pay higher taxes for everything they buy inexpensively from overseas so Obama can subsidize only government approved activities.
Our vice president now posits that normal corporate and individual profits in the course of business outside of the US are “subsidies” given out by a benign government.
Oh, where have you gone Harry Truman? In terms of real subsidies, though, how come Biden doesn’t know that the government should be providing no subsidies at home or abroad?
That’s because, just like any other addict, Biden, Obama and their progressive friends on both the right and the left refuse to understand that they have a problem when it comes to spending money.
Not content to try to tax the rich here in the United States, Democrats are so hungry for welfare revenues that they now want to tax all revenue, everywhere, ignoring international borders, international waters and universal common sense.
And guess who is gonna pay the tax? When they tolled the bell “rich” during this campaign, understand that that bell tolled for thee.
Because, while the “rich” may be someone across town in the US, the “rich” in Obama’s global sense, is you. This is a tax that will fall most heavily on the poor and middle income earners.
Liberals can’t understand that the country is losing jobs because the governments in the US- federal and municipal- aren’t competitive anymore. Instead of doing something about the fundamental problem we face, they find it more convenient to rearrange the game pieces to suit their desired outcome.
That’s because they suck at the game of government and public service, liberals do. If Obama was a first round NFL draft choice he’d be Ryan Leaf, a different type of talent bust who, not coincidentally also happens to be an addict.
I’d love to be a GOP challenger in 2016 asking a Democrats to explain to constituents why raising taxes on everyone and shipping even administrative jobs overseas mades sense.
Because you, the ordinary reader, will pay for the liberal addiction to spending not just through higher taxes on everything via Obama’s Global Tax, but through the loss of jobs too. Corporations will stop shipping jobs overseas and just ship the entire company rather than pay another onerous tax.
When you add in the fact that the wall separating Washington and Wall Street has been destroyed over the last decade- but never worse than under Obama- you can see why moving to the Philippines might make sense for say, Caterpillar.
So now, we can confidently look into an Obama-inspired future when baseball, hot dogs and apple pie are only imports. Forget Chevrolet. They already killed that bit of Americana.
You want to see what America used to look like? Shortly you’ll have to travel overseas to catch a glimpse.
That’s because this administration has serious issues when it comes to boundaries. I don’t know if Obama was held too much as a child or not held enough, but when it comes to taxes, healthcare, regulatory orders, race issues, food choices, Obama’s got a Super-Freudian case of separation anxiety.
In everything that he does, he clumsily overreaches, asserting authority that not only he doesn’t have, but probably can‘t enforce without coersion.
Energy? Immigration? Cap and Trade? Gun-Walking? Healthcare? Jobs? Stimulus? Anyone? Bueller?
It would be hard for me to name any success Obama has had on any policy front, even if I qualified and tempered those successes on a Jimmy Carter curve. But anyone can rattle off the unqualified disasters of the administration.
And no disaster would hit the US harder than Obama’s Global Tax.
Still, you know how bad ideas circulate amongst progressives.
It was only ten years ago we went to sleep confidently thinking we won the Cold War and consigned Communism to the trash bin of history.
Or did we?
Now we face a fiscal cliff of worldwide proportions, because we've been enjoying the so-called "peace dividend" raising taxes and spending on healthcare, regulatory orders, race issues and food choices
If our ruling elite won't respond to our chants of "jump, jump, jump," I say we push them.
My anger and bitterness towards these people grow daily.
Thats what you got import tariffs for except maybe O is scared to raise them and start a trade war.
When the old Testament prophets talk about locusts ravaging the spoil of the people’s labor they were not just referring to grasshoppers.
Indeed, I see us as, figuratively, the person running up to those with their backs to the cliff and tackling them over the edge...
but we know the cliff’s there, so we have parachutes.
These disciples of satan are running things now so get used to it!
Outside of rebellion there’s not a damned thing we can do about it. The results of this past election will become clearer in the first quarter of next year. If we allow the ‘falling off the cliff’ to actually take place that will mean that those lower income types will begin to pay taxes.
I say, let the vehicle of state go off the cliff!
Agenda 21. It will happen soon and under the radar of most American
It’s not a conspiracy anymore. As in treaties signed under rhe UN watch we will not be able to reverse it’s course.
Agenda 21. It will happen soon and under the radar of most American
It’s not a conspiracy anymore. As in treaties signed under rhe UN watch we will not be able to reverse it’s course.
If any of my Introductory Econ students proposed Obozo’s agenda for fixing this economy, I’d flunk them in a heartbeat. Either the guy’s an economic illiterate or he’s following Sol Alinsky’s plan to overwhelm the system to a tee. I’ve drawn my conclusion.
Ditto: NOBODY, including this government, is “too big to fail”. Artificial propping up has no utility when the reason for the weakness continues unabated. Raising the debt ceiling is utter foolishness. We need to just take our medicine and heal.
A train is heading for a cliff,
the conductor asks the engineer if he’s going to put on the brakes,
the engineer says “go ask the passengers if they’d be OK with being uncomfortable while we brake hard”.
The conductor returns after a bit and says “they said no”.
The engineer says “so be it”, and jams down the accelerator.
Then his minions will come out and declare an emergency that allows the President to raise it himself and taxes too! And what will the press and the people do? NOTHING!!!
Boehner and company are terrified of being blamed for the Democrat disaster, but by refusing to be “cowboys” and acting early, they are letting the situation get so far out of hand that the US is facing something far worse than the Great Depression.
They forget that right now, congress is a lame duck. There won’t be elections for two more years, which is a very long time. And those Republicans who will not be up for reelection because they are leaving office soon, can take the forefront by just saying “No!”
Boehner can call this a “revolt” if he likes, but it does not matter if the outcome is any of the following:
1) The Republicans refuse to raise the debt ceiling.
2) The Republicans refuse to pass any more ‘continuing resolutions’ to fund the government.
3) The Republicans refuse to stop sequestration.
4) The Republicans refuse to renew the Bush tax cuts.
While the immediate result of this will be tremendous pressure being brought to bear on the Republicans by the Democrats and the MSM, for once the Republicans will be in charge, because soon, *horrific* pressure will be brought on the Democrats to “do something”.
And the Democrats will not be able to do anything unless the Republicans agree to it, which is just the opposite from the way things are now.
All the big money backers of the Democrats will be screaming at them, putting the squeeze on them, arm twisting and threatening them. And Democrats do not handle pressure very well at all. They will buckle.
In any event, the time to strike is now. If Boehner will not lead, then the Republican rank and file must do so. Call it a “revolt”, if you like. But if enough Republican congressmen agree, the Republicans will win.
And it will be two very, very hard years for Democrats.
Only the stupid lazy and greedy voted for Obama and the only thing they will receive will be hunger and pain,enjoy.
“because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home.”
Paying less tax is not the same as receiving a subsidy. There is no subsidy. If American companies are paying less tax abroad, the solution is to cut taxes here.
High taxes and expensive regulations send more jobs to China than than all the venture capital firms in the world could even attempt. The companies might not go - great American companies might just waste away to nothing. The jobs will go, though. And the brand names we buy might change, if we can still buy.
<*img src="http://moonbattery.com/Forward_Obama_Lenin_lemmings.jpg"*>
And you will hear the MSM blame the GOP for this.
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