In L.A., Obama attacks corporations

In L.A., Obama attacks corporations

Taxes-egyptian-peasants-wikimedia-300x163During his recent trip to Los Angeles, in which his motorcade blocked a pregnant woman’s path to the maternity ward, President Obama attacked U.S. corporations that flee the massively high taxes he imposes. The corporations merge with foreign corporations, thus paying the more reasonable tax rates of foreign countries.

He called for “economic patriotism” and said, ““You shouldn’t get to call yourself an American company only when you want a handout from American taxpayers.” In that case, why didn’t he call for ending all corporate welfare, which some estimates put well above $100 billion a year?

Instead, he wants Congress to close supposed “loopholes” that allow such mergers. There are indications the supposedly low-tax Republicans who run the U.S. House of Representatives might go along with him. If not, he might dictatorily invoke a 1969 tax law dating to the Nixon administration, another way in which he would imitate the lawless President Nixon. Nixon’s tax-increase, inflationary economic policies also crashed the economy in 1974, so we might get a repeat of that.

But there’s a better way to keep U.S. companies from leaving: cut their taxes. The U.S. top corporate tax rate is 35 percent, plus 8.84 percent in California. Total: 43.84 percent.

Here’s the top corporate tax in several countries, according to Global Finance Magazine:

  • Ireland: 12.5 percent (no wonder so many corporations move there).
  • Canada: 26 percent.
  • Germany: 29.48 percent.
  • Israel: 25 percent.
  • South Korea: 24.2 percent.
  • Japan: 38 percent (no wonder their economy has stagnated for two decades).
  • China: 25 percent.

23 comments

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  1. Ulysses Uhaul
    Ulysses Uhaul 28 July, 2014, 09:03

    Economic Patriotism starts at Marthas Vineyard sleeping in a tent instead of a huge gilded mansion!

    Reply this comment
  2. NTHEOC
    NTHEOC 28 July, 2014, 15:15

    Any corporation in the US that is caught trying to merge or offshore in order to prevent from paying taxes should immediatley be brought under Govt control and the leaders of these hog corporations should be arrested on tax evasion!

    Reply this comment
    • Donkey
      Donkey 30 July, 2014, 08:17

      Ntheoc, you are a immature feral RAGWUS feeder that has no concept of what corporations pay in taxes. These corporations pay all their workers income taxes, they pay all the workers comp taxes, they pay unemployment taxes, they pay vehicle, water, carbon, SS, Medicare, and property taxes. Then when that is done clowns like you want another cut, when you have finished off the corporations you will have killed yourself you parasitic leech. 🙂

      Reply this comment
  3. karlmarx
    karlmarx 28 July, 2014, 18:37

    GREAT IDEA. I WILL SEND YOU A HAMMER AND SICKLE AS A TOKEN OF SUPPORT. WORKERS OF THE WORLD, UNITE!!!!

    Reply this comment
  4. John Seiler
    John Seiler Author 28 July, 2014, 18:55

    NTHEOC: This already has happened. The IRS and NSA already know and control everything.

    Reply this comment
    • Donkey
      Donkey 30 July, 2014, 08:08

      John, Ntheoc doesn’t care that government bureaucracies are running the show, he’s one of them. 🙂

      Reply this comment
    • NTHEOC
      NTHEOC 30 July, 2014, 10:42

      I’m glad our Govt is trying to step in john. Why let corporations avoid paying their fair share?? Its been going on to long for now and the American people are fed up! But people like you who tend to claim that high taxes are driving businesses out of America, are indeed talking nonsense! These corporate one percenter pigs are still earning their profits right here in the USA. All they’re doing is dodging taxes on those profits in which everyone of them should be brought up on charges.

      Reply this comment
      • Donkey
        Donkey 30 July, 2014, 14:33

        Ntheoc was looking straight into the mirror when she wrote this rant. What a RAGWUS feeding commie troll!! 🙂

        Reply this comment
  5. Ulysses Uhaul
    Ulysses Uhaul 28 July, 2014, 20:43

    I thought Queeg was a hard line command economy type…..NTH is in need of re-education….we need these fool corporations to pay some overhead….lighten up or they come for YOU!

    Reply this comment
  6. fletch92131
    fletch92131 29 July, 2014, 12:17

    Obummer has an ideology that is simply requires people to be taxed more and more. He said it on the campaign trail, when asked “would you raise taxes even if less money comes into the Treasury” his answer “Yes, because of economic inequality”. so here’s a guy who’s knows nothing of economics try to run the government’s tax code. he should have heard of the Laffer curve, from his first economic advisor, Christina Romer, http://bit.ly/1k5GBt7

    Reply this comment
  7. karlmarx
    karlmarx 29 July, 2014, 18:23

    The great leader is smart. He is an idiot like his actions appear.Vlad is eating him up. Groomed in Hawaii, and as an organizer(whatever the potatoes that is), versus KGB, black belt, and an expert marksman. Not a fair comparison, the organiser is inconsequential. Neville Chamberlain, (not Wilt..that was a man), reborn.

    Reply this comment
  8. Queeg
    Queeg 29 July, 2014, 20:16

    You’re not a true believer….it takes one to know one…..you’re a doomer!

    Reply this comment
  9. Queeg
    Queeg 30 July, 2014, 08:21

    To clarify…..Marxo is a fraud…..he sits in his McGoo skivvies and pumps out old post excerpts from El Calapso and the misguided Donkey/poodle cranks!

    Nothing original…..yawn……Zzzzzzzzzz.

    Frankly…….this has been a slow month on CWD.

    Reply this comment
  10. NTHEOC
    NTHEOC 30 July, 2014, 10:34

    Donkey, your “SOVERIGN CITIZEN” type mental instability is really starting to show. You are ignorant beyond belief.The federal government still gets a tenth of its revenue from corporate profits taxation. But it used to get a lot more!! A third of revenue came from profits taxes in the early 1950s, a quarter or more well into the 1960s.So President Obama is spot on with his assessment of these corporate pigs. It is becoming more and more clear corporate tax avoidance is screwing the AMERICAN workers and people of this country. Consider the case of Walgreens, the giant drugstore chain that, according to multiple reports, is on the verge of making itself legally Swiss.If the plan goes through, nothing about the business will change; your local pharmacy won’t close and reopen in Zurich.It will be a purely paper transaction – but it will deprive the U.S. government of several billion dollars in revenue that you, the taxpayer, will have to make up one way or another!!!!!!!!! So who is the moron donkey? The majority of the people will say YOU………

    Reply this comment
    • Donkey
      Donkey 30 July, 2014, 14:38

      Ntheoc, your feral RAGWUs feeding traits are clear for everyone to see, and you are really dumb too!!

      Corporations pay plenty in taxes you trough feeding moron, as I wrote up above they pay for everyone that works for them too.

      You are just a tax hogging swine, seeking more revenue to fund your crooked cabal full of lazy parasites. 🙂

      Reply this comment
      • NTHEOC
        NTHEOC 30 July, 2014, 15:21

        LOL, Donkey having a tantrum!!! You are as anti-American as they come Donk!!!

        Reply this comment
        • Donkey
          Donkey 30 July, 2014, 18:47

          Not at all Ntheoc, your RAGWUS organization is a bunch of thieves. They can’t steal enough to feed their greed. Even as cities now create new phrases for taxation, i.e. fees, or full cost recovery, one can see that the feeders RAGWUS will never be satisfied. People like ntheoc will always be looking for more even though the “service” they dispense is done by volunteers across the nation for a fraction of the cost.
          You are just a dirty red commie my little fire truck friend. 🙂

          Reply this comment
  11. Ulysses Uhaul
    Ulysses Uhaul 30 July, 2014, 16:31

    Good work Nth…….best rant of a boring month!

    Reply this comment
  12. Bill Gore
    Bill Gore 2 August, 2014, 10:58

    Your little table excluded Russia, which has a 13% flat income tax!!

    REPEAT; RUSSIA HAS A 13% FLAT INCOME TAX!!

    Now we have to reinvent the wheel by going full soviet. Maybe in 75 years we’ll pull out of it..

    Reply this comment

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corporate taxJohn SeilerPresident Obama

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