Posted on 08/06/2014 6:56:06 PM PDT by Kaslin
Not content with imposing the highest corporate tax structure in the “free” world, Democrat hacks in the legislature are now asking the Imperial President to unilaterally take action. A group of tax happy corporate protectionists are hoping the President uses his "pen and his phone" to start punishing American businesses that have the audacity to lower their corporate tax burden.
Elizabeth Warren (D-Mass), Dick Durbin (D-Ill), and Jack Reed (D-RI), have crafted a letter (yeah… It took three of them) to President Obama requesting that action be taken toward businesses that have sheltered themselves from some US taxes. According to the Hill.com:
Sens. Dick Durbin (Ill.), Jack Reed (R.I.) and Elizabeth Warren (Mass.) told Obama in a letter Tuesday that he should do all he can to discourage “inversions,” in which companies that do work in the United States shift their headquarters elsewhere to avoid U.S. tax rates.
Well… That’s almost what’s happening. Corporations that do business in America (regardless of where they are headquartered) still owe US corporate taxes on profits made in America. Things get tricky, however, when American businesses make profits over seas. When these American companies try to repatriate that money (that has already been taxed by a foreign government) back home, they are charged nearly 35 percent by the American government… This has shockingly (sarcasm font) encouraged businesses to move their headquarters so they don’t have to repatriate profits to a tax hungry Internal Revenue Service.
As it turns out, businesses are actually designed to make profits. I understand this could be a difficult concept for government-centric liberals to wrap their brain around, but it’s a fact of life. The three stooges legislators continued:
“Corporations that renounce their U.S. corporate citizenship should not be able to reap all the benefits that American tax dollars provide,” they wrote. “We urge you to use your authority to stand up for American companies which are proud to be part of our nation and reduce U.S. incentives for others corporations which would abandon their responsibilities to their country for a nod of approval from Wall Street.”
“A nod of approval from Wall Street”? Wow. That’s pretty rich coming from a bunch of wealthy lawmakers who invest their money in stocks. The truth is: America is a great place to do business. Unfortunately, the all-knowing “patriots”, who have helped craft a 74,000 page tax code, have managed to make doing business in America less profitable. And, not to belabor the point, but businesses are kinda built around profits.
Of course the tax-centric Democrats bemoan the prospect of an international “race to the bottom” in regards to corporate tax rates. “This is a race to the bottom the United States simply can’t win and should not be lured into entering,” they fretted in the letter… Not to spoil the fun, but maybe we should explain to these self-anointed arbiters of economic patriotism how corporations work.
See, corporations pay taxes with the money that they collect from consumers in exchange for a service or a product. In other words: The world’s highest corporate tax rate is paid by you and me. And if you don’t think the cost of government is calculated into the price of a good or service, then, I don’t think you’re smart enough to be my legislator.
You Dems want more companies to show a little economic patriotism, by bringing their global profits back home? Then stop penalizing it. Rather than begging King Obama to issue some economic decree, maybe we could focus on making America a bit more attractive for multi-national corporations… Or would that hurt your talking point?
Hillary’s worst nightmare....
America’s worst nightmare. If she runs, she wins. Voter fraud will ensure it.
America’s worst nightmare.
In other words, “screw the carrot, what we need is more stick”.
The left wants a real dictatorship
What these lunatics are proposing is a financial Berlin wall.
All within the state, nothing outside the state, nothing against the state.
— Benito Mussolini
Corporate Patriotism sounds awful close to something out of Hitler’s past. But hey........history repeats itself in an ever decreasing time allotment as we become more stupider and stupider.
You will be patriotic and worship dear reader.
I suppose the party would then cease to exist.
You vill be patriotic and you vill pay more taxes!!! Damn Nazis.
Conservatives need to endlessly tie her to Occupy Wall Street, recapping the horrific images of its appalling behavior:
VIDEO: Occupy Wall Street - Students occupied TD Bank 11.17.
VIDEO: Everyday Rebellion presents: Occupy Wall Street/Shut down Citibank, #S17
Minneapolis/St Paul Business Journal: Occupy Wall Street protesters close Wells Fargo HQ in S.F.
New York Times: For Some, Wall Street Is Main Street
It is with a strange feeling that those of us who come from the Soviet Union look upon the West of today. It is as though we were neither neighbours on the same planet, nor contemporaries -and yet we contemplate the West from what will be your future, or look back seventy years, to see our past suddenly repeating itself.And what we see is always the same, always the same as it was then: adults deferring to the opinion of their children; the younger generation carried away by shallow worthless ideas; professors scared of being unfashionable; journalists refusing to take responsibility for the words they squander so profusely; universal sympathy for revolutionary extremists; people with serious objections unable or unwilling to voice them; the majority passively obsessed by a feeling of doom; feeble governments; societies whose defensive reactions have become paralyzed; spiritual confusion leading to political upheaval.
What will happen as a result of all this lies ahead of us. But the time is near, and from bitter memory we can easily predict what these events will be.
Excerpt from "West's Betrayal of Civilization" by Aleksandr Solzhenitsyn
“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?... The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin's thirst, the cursed machine would have ground to a halt! If...if...We didn't love freedom enough. And even more – we had no awareness of the real situation.... We purely and simply deserved everything that happened afterward.”
― Aleksandr Solzhenitsyn
The word “freedom” as used by the founding fathers and intellectuals such as Adam Smith didn’t mean freedom to have sex with farm animals or act out any fantasy or lifestyle one wishes, ... it meant freedom to do business unmolested by the King’s rabid tax collectors. Ergo, the US isn’t the beacon of freedom many have deluded themselves into thinking it is.
If Hillary is having nightmares, then Fauxcahontas had better get someone else to start her car - permanently.
The Flying Buttress is not amused by the pretentions of Lieawatha. She’s still smarting from 2008.
(Somebody please bring the popcorn...find some comfy chairs...2016 will be most interesting)
Bitchontus needs an attitude adjustment about the economy shoved into her ears.
i guess the stooopid cow is OK with it so long as her boy is the one doing it...
Obama Aides Let Delphi Use Tax Tactic President Assails
“corporations pay taxes with the money that they collect from consumers in exchange for a service or a product. In other words: The world’s highest corporate tax rate is paid by you and me”
this needs to be repeated over and over +
Warren is a dummy
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.