Whiskey Tango Foxtrot

Everyday it seems, Obama trots out some plan of his that shows that he’s not only out of hos depth, but he is seriously going tto mess up this country. It boggles the mind how anyone could be so clueless. But he thinks what he’s doing makes sense.

Frankly, I would rather write about something other than politics but I can’t sit and let this stuff go by unnoticed. The MSM is completely dishonest and won’t tell you the truth.

His latest stunt is to say he’s going to shut down tax havens and close loop holes. In other words, American companies that do business overseas are going to have to pay taxes there and also US taxes on top of them. This will mean that they will have to shut down operations over seas, thus ending a lot of jobs. It will hurt their ability to compete which will also mean less jobs.

Every president says they will close loopholes, but the fact is loop holes are what politicians sell to rich donors. It’s a total scam. If you look at the tax code, there are parts of it that exist only to give one person or group a tax exemption. This latest move is nothing but another attempt to take as much money as possible from the people.

Of course they use the “the rich must pay their fair share” line. Again, it’s a scam. A lot of what he wants to end is legal. Many large companies park their money overseas to avoid taxes. That’s because our corporate tax rate is the second worse in the world. The greedy people are our politicians.

And they want to dictate to smaller countries what they can and cannot do with their banks. Absurd.

The latest G20 was designed to get the rich countries to bully the smaller ones to force them to give up any secret bank accounts they may have that could be tax dodgers.

If these countries had fair taxes and a sane tax code, people wouldn’t need to hide their money. The American tax code is insane. And it needs to be redone. You know things are screwed up when Russia has a better tax system than we do. Russia uses a flat tax.

UPDATE: Obama’s plans are riling up the tech world, who were some of his biggest supporters. Perhaps now they will see what a mistake that was.

Meanwhile, even congressional democrats are balking at this plan. I think it will go nowhere. At least, I hope so. It would make the economy a lot worse than it already is.

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3 Comments

  1. Yeah,

    When I heard about the tax situation overseas, I thought to myself “what this guy (Big O) proposes is REALLY stupid and is going to result in more shutdowns, layoffs, or sell-offs of overseas subsidiaries.”

    Obama has no clue about real-world economics.

    Unfortunately, neither does the average American voter. Only people that bother to educate themselves or have their own business understand why the Obama plan is a knife aimed at business. It just won’t help the economy or create jobs.

    Sad to hear the Russians — who were kings of extreme socialism for decades — have done something our politicians just don’t want to do… The power grabs by the Dems are really going to screw things up for years.

  2. Maybe after America suffers under Obama’s socialism they will adopt a flat tax. As long as it doesn’t take 70 years

    I am getting the feeling people, even in the clueless government, are beginning to realize Obama has no idea what he’s doing and is just flailing around. Backlash is coming and it’s going to be ugly.

  3. Hud,

    The thing is many of the people who supported Obama were clueless about who this shlub is.

    They didn’t want to believe the stories about his Chicago church even though you could easily visit the church’s website (I did) and see that it was racially supremacist fringe cult (saw that, too).

    On top of that, this man has a very skewed, screwed up worldview (courtesy of a flakey mom and his academic and political mentors) that has been disproven time and again in the past 30 years! I’m related to people who are so deep into academia and their theoretical/philosophical posturing that they have lost all common sense and street smarts. Until a few years ago, I was probably headed that way, too.

    I want to have my piece of the American dream, too.

    I don’t want to take the government cheese, though, and I certainly don’t want an autocrat telling me what I can and can’t do.

    The sooner B.O. goes, the better for this country…

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