The conversion of the United States to a third world country lives on with Barack Obama in charge. Corporate taxes is what I’m talking about. We currently have the second highest corporate tax rate in the world. That’s not good enough for Obama. He thinks we should have the highest.
President Obama’s plan to impose U.S. taxes on corporate America’s overseas profits threatens to open a big crater in the financial statements of technology companies.
While additional taxes are rarely popular, Mr. Obama’s decision to go after corporate earnings outside the United States is a particularly prickly subject for technology executives because the industry has been steadily boosting its overseas sales amid rising demand for its gadgetry and services.
Let’s move on to Obama’s talking point:
Collectively, HP, IBM, Cisco, Microsoft and Google lowered their tax bills by a combined $7.4 billion in their last fiscal years by taking advantage of lower tax rates outside the United States, according to an analysis by the Associated Press.
Through the years, these five tax companies have avoided U.S. income taxes and foreign withholding taxes on a combined $72 billion in undistributed earnings from their foreign operations.
Now, to the feebleminded that have bought in to the politics of envy, the corporations are evil and aren’t paying their fair share. The people that think like that, are the same people that would have sided with Lenin during the Bolshevik Revolution in Russia had they been alive in 1917.
Instead of looking at the problem, and the reasons why corporations do this, the Obama government wants to punish the corporations. The problem is the taxes are too high, period. When Obama completes his vision of Socialism, you will find the IRS prosecuting many, many more people and businesses for tax issues, which I find somewhat funny given his administrations stellar record of paying taxes.
The reason why, won’t be because “we’re finally getting them”. The reason will be, there are going to be many, many more of them, and the reason there will be many more, is because of the tax rates. That’s common sense. If you haven’t figured that one out, you’re pretty stupid.
Think about it. Use your head. If it costs you 62 cents on the dollar to operate your business, that would make you the minority shareholder in your own business, wouldn’t it? Now then, say another country like Vietnam contacts you and proposes a 5% tax rate to outsource your jobs, or even relocate. It doesn’t take a rocket scientist to figure out what is in your best interest. And this would not be an example of “corporate greed”, truthfully, it would be a case of “government greed”. Obama isn’t looking out for American business, people, and the economy, Obama is looking out for big government.
