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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Monday, June 01, 2009

The heroin addict in Washington wants even more money....

Like Willy Sutton, who robbed banks because that was where the money is, The US government is looking to increase already high taxes on American corporations. Taxes on US corporations are already among the highest in the world giving American producers a cost disadvantage. Since most foreign companies do not pay taxes in home jurisdictions for business conducted outside their home states, they have lower net costs of production to that of an American company.

As a result, the US has allowed companies to earn overseas with out paying taxes as long as they do not repatriate the profits. Seems like a very silly thing. It would be better to bring profits home to invest at home? Not in the bizarro world of Washington.

Now, the Obamessiah, looking for new sources of revenues for all of his wasteful social engineering, is looking for new sources of revenues for these Utopian plans. What better place than corporations. So here is some untaxed money that through a stroke of a pen, the addicts in Washington can seize for their grandiose plans.

However, the long-term consequences will be terrible. American companies will not only be disadvantaged overseas, it will exacerbate the trend towards outsourcing American jobs overseas as foreign companies will have a clear advantage of either being able to charge lower prices or adding more quality than American producers can at the same price.

These idiots in Washington are determined to destroy what little incentive there is to produce, save and invest in the US. The socialism, high taxes and repressive government intervention int eh markets will eventually kill the goose that laid the golden egg for Americans. Best of luck, see how far affirmative action will have gotten you!!!!


At 1:54 PM, Anonymous Anonymous said...

He's trying to live up to his promise to only tax the rich.
I wonder how he'll explain the VAT tax, or the cap and trade cost increase on everything, or the rise in local and state taxes to run unfuded federal mandates, or the fact that corporations are only going to raise prices to recover revenue stolen through taxes.
I can SS's first casualty will be anyone who is "rich", whatever that means, will be disqualified from collecting. Then the rationed health care sytenm will kick in, and all while the US dollar inflates beyond imagination.
No real ID card, no government handouts....that's coming.


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