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At the Fiscal Cliff I Cry "Jump, Jump, Jump!"
Townhall.com ^ | November 13, 2012 | John Ransom

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.


 


TOPICS: Business/Economy; Editorial
KEYWORDS: fiscalcliff

1 posted on 11/13/2012 5:14:34 AM PST by Kaslin
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To: Kaslin

My anger and bitterness towards these people grow daily.


2 posted on 11/13/2012 5:19:20 AM PST by Thorliveshere
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To: Kaslin
RE :”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. “

Thats what you got import tariffs for except maybe O is scared to raise them and start a trade war.

3 posted on 11/13/2012 5:21:18 AM PST by sickoflibs (How long before cry-Bohner caves to O again? They took the House for what?)
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To: Kaslin

When the old Testament prophets talk about locusts ravaging the spoil of the people’s labor they were not just referring to grasshoppers.


4 posted on 11/13/2012 5:28:17 AM PST by circlecity
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To: Thorliveshere

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.


5 posted on 11/13/2012 5:34:59 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Kaslin

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!


6 posted on 11/13/2012 5:37:03 AM PST by IbJensen (Liberals are like Slinkies, good for nothing, but you smile as you push them down the stairs.)
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To: Kaslin

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.


7 posted on 11/13/2012 5:37:38 AM PST by lucky american (The Democrats will follow the big "D"even if it means going over a cliff.)
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To: Kaslin

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.


8 posted on 11/13/2012 5:37:52 AM PST by lucky american (The Democrats will follow the big "D"even if it means going over a cliff.)
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To: Kaslin

9 posted on 11/13/2012 5:48:41 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: Kaslin

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.


10 posted on 11/13/2012 5:50:43 AM PST by econjack (Some people are as dumb as soup.)
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To: Kaslin

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.


11 posted on 11/13/2012 6:02:22 AM PST by jagusafr (the American Trinity (Liberty, In G0D We Trust, E Pluribus Unum))
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To: jagusafr

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.


12 posted on 11/13/2012 6:17:47 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: jagusafr
What do the R's have to lose, an election? Refuse to raise the debt ceiling, tell BO that he has maxed out the credit card and he better start cutting.

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!!!

13 posted on 11/13/2012 6:26:26 AM PST by thirst4truth (www.Believer.com)
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To: thirst4truth
It doesn't matter if we raise the ceiling or not, our credit rating will be reduced.
Time to run off the cliff with the others...


14 posted on 11/13/2012 6:35:50 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Kaslin

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.


15 posted on 11/13/2012 6:39:56 AM PST by yefragetuwrabrumuy (DIY Bumper Sticker: "THREE TIMES,/ DEMOCRATS/ REJECTED GOD")
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To: Travis McGee

http://moonbattery.com/Forward_Obama_Lenin_lemmings.jpg


16 posted on 11/13/2012 6:44:43 AM PST by Uncle Lonny
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To: Kaslin

Only the stupid lazy and greedy voted for Obama and the only thing they will receive will be hunger and pain,enjoy.


17 posted on 11/13/2012 6:50:20 AM PST by Vaduz
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To: Kaslin

“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.


18 posted on 11/13/2012 6:51:20 AM PST by Gil4 (Progressives - Trying to repeal the Law of Supply and Demand since 1848)
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To: Uncle Lonny
Just remove the asterisks from this formula to post images.

<*img src="http://moonbattery.com/Forward_Obama_Lenin_lemmings.jpg"*>


19 posted on 11/13/2012 7:25:32 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: yefragetuwrabrumuy

And you will hear the MSM blame the GOP for this.


20 posted on 11/13/2012 7:53:40 AM PST by taxcontrol
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To: Kaslin
Right now I have no idea why any multi-national company (other than a few who have to deal with the US government like Boeing, General Dynamics, etc.) would keep its corporate headquarters in the US. Why is (for a local example) Procter & Gamble still a US company? They earn a significant portion of their profits outside the US and it seems like they would make a lot more being HQed in another country with a US subsidiary. I think a lot of companies will be asking that same question in the next couple of years.
21 posted on 11/13/2012 9:50:10 AM PST by KarlInOhio (Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)
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To: taxcontrol

Certainly the MSM will blame the Republicans, and they have to be ready to take two or three months of abuse head on.

But at the same time, there is going to be increasing to huge pressure put on the Democrats to do something, anything, that they are unable to do on their own. Unions, corporations, and all the people getting largess are going to go nuts as the money supply is cut off.

The markets will go south in a long overdue correction, and the Republicans will then make some very public offers to the Democrats to end it. And when the Democrats refuse to compromise in any way, the Republicans can just shrug.

Eventually the Democrats will break like a dam.


22 posted on 11/13/2012 11:29:30 AM PST by yefragetuwrabrumuy (DIY Bumper Sticker: "THREE TIMES,/ DEMOCRATS/ REJECTED GOD")
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To: taxcontrol

They’ll always blame the GOP. Doesn’t matter the situation, the blame for bad things the Democrats do will always fall on the shoulders of the GOP.

No compromise. No surrender. Block it all. The smearing of the GOP will happen regardless.


23 posted on 11/13/2012 11:31:10 AM PST by sf4dubya (I rebelled against my parents by becoming a conservative.)
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To: Gil4
Paying less tax is not the same as receiving a subsidy.

The important thing to understand about Democrats is that in their minds, paying less tax is EXACTLY the same as receiving a subsidy. They stare blankly if you try to explain the difference, as I did with our new Congresswoman Annie Kuster a few weeks ago.

24 posted on 11/13/2012 1:28:45 PM PST by mvpel (Michael Pelletier)
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To: Kaslin
Incompetentocracy...
KeystoneKopocracy...
Newkidnationocracy...
25 posted on 11/14/2012 8:41:49 AM PST by publius911 (Formerly Publius 6961, formerly jennsdad)
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