Big news today as President Barack Obama announced his desire to construct a border wall. A shocking change of heart from a man whose previous comments have been in support of unfettered illegal immigration? Yeah, sure. No, this is to be a metaphoric wall designed to prevent US companies from fleeing the world’s second highest corporate tax rate, relentless expansion of an already odious regulatory climate, and the would-be crippling increase in energy prices the Democrats have committed to foist upon the public through cap-and-trade. If only there were some historical parallel of a government erecting a barrier to prevent its citizens from fleeing an overbearing and oppressive regulatory regime to which we could refer for insight...
President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and allow wealthy people to evade taxes using offshore accounts.
“The steps I am announcing today will help us deal with some of the more egregious examples of what is wrong with our tax code,” Obama said at a joint announcement with Treasury Secretary Timothy Geithner.
“It is the downpayment on the larger tax reform we need to make our tax system simpler and fairer and more efficient for individuals and corporations.”Now, I know what you’re thinking – especially if you’re one of our so-called progressive readers. Shipping jobs overseas is un-American. Only heartless, greedy corporations and their paid mouthpieces could possibly be in favor of outsourcing. What he’s doing will help protect the interest of American workers and keep good paying jobs here in the US. The $210 billion in savings is just icing on the cake.
Mierda de vaca.
There is one reason why companies opt to shutter operations in the US and outsource – thanks to government interference in the market it is unprofitable to engage in the same activity here in the US. American workers are the most productive in the world and have been for decades. Who honestly believes a business would willingly abandon the world’s most productive workforce, subject itself to the language and cultural hurdles, undertake the complicated accounting, and see itself castigated for shipping jobs out of the country if it didn’t have to do so?
It starts with corporate tax rates – the second highest on Earth. Then throw in union influence over Washington. Add a dash of environmental regulation. Mix in FMLA, OSHA, EEOC, and OFCCP. Top with an energy policy that favors stylish over affordable. Then serve in a trial lawyer-friendly legal atmosphere. It’s a testament to American business determination that there are still any manufacturing jobs left.
Of course, that’s before Obama raises corporate taxes, expands union influence, doubles down on environmental policy, revs up the alphabet soup regulatory regime, massively increases the cost of energy, and further energizes (i.e. Lily Ledbetter Fair Pay Act) the trial lawyer lobby. No wonder he’s trying to erect barriers to prevent companies from fleeing to less oppressive locales. Probably polls better than a “Will the last manufacturing facility left in America please turn out the lights when you leave” banner.
The best news is that this is just a $210 billion down payment on the larger tax reform (i.e. increases) he’s planning. Higher future tax burdens are a given in light of a projected doubling of the National Debt over the next ten years and $100 trillion in unfunded Medicare/Social Security liability. All we can do now is sit back and wait to see just how egregious Obama’s policy of inter-generational theft becomes.
Socialism, economic fascism, communism – call it what you want, but it’s clear that Obama believes feeding the federal government’s insatiable lust for cash should be the central organizing principal of our nation.