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Beware: In Obama’s Global Tax Scheme Americans are “the Rich” ^ | April 18, 2012 | John Ransom

Posted on 04/18/2012 4:32:52 AM PDT 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.

TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: joebiden
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 refuse to understand that they have a problem when it comes to spending money.   

Not content 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 toll the bell “rich” during this campaign, understand that that bell tolls 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 2012 asking a Democrat incumbent to explain to constituents why raising taxes on everyone and shipping even administrative jobs overseas makes sense.  

Memo to White House: If raising taxes is the platform you’re sticking Democrats with then prepare to get an old-fashioned party butt kicking.   

Because you, the ordinary reader, will pay for the liberal addiction to spending gnot 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 risking wholesale rejection by voters, or abject policy failure.

Energy? Immigration? Cap and Trade? Gun-Walking? Healthcare? Jobs? Stimulus? Anyone?

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.   

It will be difficult even for Mitt and the GOP to blow this one.

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?  

1 posted on 04/18/2012 4:32:57 AM PDT by Kaslin
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To: Kaslin

I think the title has a typo, the last word seems to be spelled wrong.

2 posted on 04/18/2012 4:37:17 AM PDT by Cringing Negativism Network (Is Buffett's comfort with "Obama" simply comfort with the word "Omaha" his home and birthplace?)
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To: Kaslin

Even Karl Marx hadn’t thought of this one.

3 posted on 04/18/2012 4:52:46 AM PDT by econjack
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To: Kaslin
“We want to create a global minimum tax,” said vice president Joe Biden.

What the H*LL!?!?!?!?!?!

I know this is from the motormouth himself, but what the H*LL!?!?!?!


4 posted on 04/18/2012 5:04:37 AM PDT by Jerrybob
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To: Cringing Negativism Network

Obama is about punishing those who want to succeed and live beyond mediocrity.

5 posted on 04/18/2012 5:06:08 AM PDT by CORedneck
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To: CORedneck

baraq is already spreading the wealth around.

He is subsidizing the economy of Kenya with millions of our tax dollars.

Wonder why he has a soft spot in his icy heart for that country?

6 posted on 04/18/2012 6:03:12 AM PDT by Texas resident (Hunkered Down)
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To: Kaslin
How dare Americans live above the standard of living of other countries. Obama shows us how he feels other people should live with his half brother in Africa living on a $100/yr. At first I thought this was satire. This is the worst excuse of a president the US has ever seen.
7 posted on 04/18/2012 6:05:28 AM PDT by BipolarBob ("Oh no, I'm not sick, well I'm not physically sick anyway. Mentally I'm sick beyond any doctor's abi)
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To: Kaslin

A global minimum tax sounds suspiciously like something tied to the UN, the NWO, globalism, i.e. a way to ensure ‘harmonization’ of living standards world wide and no escape from the tax man.

Preventing off shoring and protecting jobs at home is probably merely the cover story just as protecting the environment is merely the cover for going ‘green’.

8 posted on 04/18/2012 6:16:28 AM PDT by khelus
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To: Kaslin

That’s it. They don’t even want you to be able to “vote with your feet.” Where ever you are, your earnings belong to the Government...

9 posted on 04/18/2012 6:27:36 AM PDT by Little Ray (FOR the best Conservative in the Primary; AGAINST Obama in the General.)
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To: khelus; All

More here:

10 posted on 04/18/2012 6:46:20 AM PDT by khelus
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To: Quix

Ping. The NWO marches on.

11 posted on 04/18/2012 6:47:33 AM PDT by khelus
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To: Kaslin
The US Constitution is sovereign in our country and only gives taxing authority to Congress. To even suggest that some other authority, like the UN, can or should have taxing power over Americans is repulsive and violates the very fabric of the United States as a sovereign nation. The RNC should be all over this statement by Biden and for Obama to seriously suggest this is reason enough for impeachment. Unfortunately the GOP leadership is content to be the court eunuchs for Emperor Obama and will say or do nothing about this.
12 posted on 04/18/2012 7:06:49 AM PDT by The Great RJ
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To: Kaslin

Wait this must be total BS as the pigmented challenged one (not as fully black as he would like) has told us our way of life did not, has not, will not work.

So how could we possibly be not only rich, but richer than all of his beloved socialist/communist/filthy Is-Slime countries?

I have serious doubts if this waste of sub-human debris has ever had an HONEST thought in his entire life.

There is not a molecule in my body which does not detest every molecule in Mubumble Odumbo’s body and wishes him a prompt but 100% natural demise. Any attempt to artificially rush this would be 100% counter productive to the country.

13 posted on 04/18/2012 7:13:17 AM PDT by Wurlitzer (Welcome to the new USSA (United Socialist States of Amerika))
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To: Kaslin

I thought by now that Caterpillar would have seriously considered moving out of Illinois & moving all operations to Texas, Tennessee or some other state that doesn’t charge state income taxes.

Otherwise, I would think that Canada looks very promising.

14 posted on 04/18/2012 8:08:07 AM PDT by ridesthemiles
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To: khelus; Alamo-Girl; Amityschild; AngieGal; AnimalLover; Ann de IL; aposiopetic; aragorn; auggy; ...

GLOBAL TAXATION SCHEMES OF THE NWO . . . coming soon to a bank account near most hapless citizens of the planet . . .

However . . . for those in Rio Linda . . . go back to sleep. Pretend there’s no globalism; no satanism; no Marxism; nothing to wake-up about . . . may as well wait for the gestapo’s kicking your doors in . . . all will be slightly well until then . . . here and there . . . between the widening cracks in the fabric of reality as we’ve known it . . .



15 posted on 04/18/2012 8:08:19 AM PDT by Quix (Times are a changin' INSURE you have believed in your heart & confessed Jesus as Lord Come NtheFlesh)
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To: Quix

Thanks for the ping!

16 posted on 04/18/2012 8:04:37 PM PDT by Alamo-Girl
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