Skip to comments.Beware: In Obama’s Global Tax Scheme Americans are “the Rich”
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, youd think the rest of us should be grateful.
We want to create a global minimum tax, said vice president Joe Biden, because American taxpayers shouldnt 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.
Oh, where have you gone Harry Truman? In terms of real subsidies, though, how come Biden doesnt know that the government should be providing no subsidies at home or abroad?
Thats 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 Obamas global sense, is you. This is a tax that will fall most heavily on the poor and middle income earners.
Liberals cant understand that the country is losing jobs because the governments in the US- federal and municipal- arent 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.
Thats because they suck at the game of government and public service, liberals do. If Obama was a first round NFL draft choice hed be Ryan Leaf, a different type of talent bust who, not coincidentally also happens to be an addict.
Id 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 youre 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 Obamas 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 youll have to travel overseas to catch a glimpse.
Thats because this administration has serious issues when it comes to boundaries. I dont 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, Obamas got a Super-Freudian case of separation anxiety.
In everything that he does, he clumsily overreaches, asserting authority that not only he doesnt have, but probably cant 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 Obamas 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?
I think the title has a typo, the last word seems to be spelled wrong.
Even Karl Marx hadn’t thought of this one.
What the H*LL!?!?!?!?!?!
I know this is from the motormouth himself, but what the H*LL!?!?!?!
IS ANYONE PAYING ANY ATTENTION TO THESE IDIOTS?????
Obama is about punishing those who want to succeed and live beyond mediocrity.
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?
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’.
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...
Ping. The NWO marches on.
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.
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.
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 . . .
Thanks for the ping!