Head of P&G blasts Obama tax proposal (Corporations finally figuring Obama out)

msnbc ^ | 3/30/2009 | ap

[tobyhill]

The chairman of the world's largest consumer products maker says a provision in President Barack Obama's budget proposal regarding income made overseas would cost American jobs and give foreign businesses an unfair advantage.

A.G. Lafley, chief executive officer of the Procter & Gamble Co., said a proposal to limit or end deferred payment of taxes on foreign income would lead to job cuts and higher prices for American consumers and would cost companies billions.

U.S. companies now are allowed to defer payment of taxes on foreign income until those funds are brought back into the country. Requiring immediate payment of taxes would give an edge to foreign competitors, such as L'Oreal, Unilever, Nestle and Kao, Lafley said.

[domenad]

What corporation would possibly consider donating money to Obama in 2012? That would be like sharpening the knife that will cut your own throat.

[org.whodat]

Dance with the whore you brought and stop whining.

[tobyhill]

It's amazing what some people learn after going through a dumb-ass moment.

[Texas Fossil]

Ding Ding Ding!

It only shows that he is intentionally attempting to destroy Capitalism in the West and the United States of America in particular.

The chaos he is causing is not accidental, it is part of the plan.

The real Americans will not allow this to continue much longer.

The time is drawing very near when organized opposition will become apparent despite the MSM efforts to hide it.

[Texas Fossil]

Always know where the train is going before you get on.

[Oldexpat]

They will give him money and lobbyist in order to try to be the last one eaten. This is how it works. Politicians threaten and extort contributions. Even when they don’t work they will give again with the hopes that it will work next time.

[wbill]

From what I've read on P&G, they're a fairly cutting edge company.

The execs there realize that there's not a whole lot of margin in bars of soap, so they wring out extra with technology advances.

No surprise that they're pretty well clued in.

[Obadiah]

(Corporations finally figuring Obama out)

Yeah, they "finally" figured Obama out...right after they collectively bundled hundreds of thousands or tens of millions of dollars to his campaign.

[Obadiah]

...despite the MSM efforts to hide it.

Bears repeating.

[Tarpon]

Before or after they donated to his campaign?

Some people are slow learners.

[KarlInOhio]

With how bad the US corporate tax code is compared to other nations, I have no idea why any multinational company would stay headquartered in the US unless they either expect bailout money or need US military protection.

[Renkluaf]

Da'Bama is tasked with finding revenue to support his vision of the world as it should be through his eyes. He's reprising the role of FDR perfectly as FDR raised excise taxes during the New Deal to pay for his folly. Excise taxes, among the most regressive tools of government, accounted for more than 50% of federal gov't income from 33-37. FDR "had" to impose them on the poor and middle-class in order to give a portion back to the poor and middle-class in the form of the WPA, CCC and other sensless BS!

Remember, destroying jobs for the sake of percieved federal benevolence is always a good thing in the eyes of the marxist.

[Aria]

People usually figure out that their protection money didn’t work the way they thought when it’s too late.

As Dick Morris said - Obama has principles, just the wrong ones. I don’t think he gives a whit about those who think they’re betrayed - he’s on a mission.

[indthkr]

bump

[GOPsterinMA]

Well written - thank you!

[Bean Counter]

I’d love to know how much money Proctor and Gamble has given to DemocRats over the years...

[Nachum]

The List, ping

[Boucheau]

“That would be like sharpening the knife that will cut your own throat.”

Well, there’s no shortage of self-loathing Americans around, these days.

[Boucheau]

“Bears repeating.”

The stock market of late.