The Obama administration plans to raise $103.1 billion by removing tax advantages for investing overseas and will use that money to help make a tax credit permanent, the officials said.Ah, Chicago politics writ large: Punish your foes and reward your supporters.
Monday, May 04, 2009
Pushing them into the gulch.
Barry is expected to announce today his administration's plan to create dozens of new citizens of the Principality of Monaco, as well as a corporate office building stimulus package for the Cayman Islands.
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So he's making the tax credit that a bunch of people will have to pay back next year permanent?
Nice.
What about Fiji - where the Kennedy's hid their maoney?
Ah, more heat to the fire.
This whole thing is simmering quite nicely.
What we need is more of the same.
Let all that change he's been promising happen, and as quickly as he can get it all rubber stamped.
It's going to be the only way people are going to learn that this clown isn't their friend.
I was wondering how the party of No was going to spin this, but I don't even understand your complaint. Monaco? Cayman Islands? What does this have to do with anything?
What exactly is the problem with closing tax loopholes?
"...I don't even understand your complaint."
Obviously.
The economy should get a real boost by the rich guys taking their toys and going to play in a nice tax sheltered province. Capital inlay means nothing to "O" and his henchmen.
WV- screwo
Surely these WV's are rigged, but even so, .... most hilarious.
Okay, we can all stop using "tax credit", and "tax cut" now. It was a short-term, involuntary loan that would have to be paid back. You were loaned your own money to begin with.
And I'm all for eliminating "tax loopholes", especially the ones where Congress overtaxes and then returns the money along with stipulations on what will be done with it--oh hell, they don't even bother limiting it to the money now, they just dictate whatever they damn well please. Congress thinks this is a "loophole" that allows it to exercise imaginary, unconstitutional powers. It's not.
"Monaco? Cayman Islands? What does this have to do with anything?"PT Barnum, in a weird sort of way, don't you think?
You'll notice that the fact that he was self-professedly ignorant of the topic in no way prevented him from opening his piehole and offering what passed for his opinion.
Sort of "The perils of universal suffrage in forty words or less"...
Obama is either a moron or he is actively seeking to destroy private capital.
What am I saying, of course he's both!
Shootin' Buddy
He's no moron.
I always like the word "loophole", because it's never applied to ANYTHING with which the speaker agrees or in which he indulges.
"Close the under-70 freeway speed loophole!"
"Eliminate the loophole which allows alcohol to be sold to people over 21!"
"He's no moron."
Well, he may be a good student of Alinksy, but he's not well-read and understands nothing of the real world.
He was always polite and very politic, but I do not believe he is the sharpest knife in the drawer. I believe there is a large distinction between being a good student and being intelligent.
Shootin' Buddy
Might want to look up his IP Tam.
This 'tard looks like a classic Obama astroturfer.
Just mentioning Teh Zero's name will cause them to appear after an aggregator search.
Having been declared war on, I firmly pledge to do whatever is necessary to see this clown defeated at the earliest possible time. Closing tax loopholes? Simplifying the tax code? Barry just made another enemy. What a moron.
Next thing we know, the census will be taking an inventory of all graveyards, and noting name as a registered Democratic voter.
Chicago rules apply to the next election - vote early, vote often.
And closing loopholes is really, really simple. We keep that money at home - drop the tax rate to about 12% for everyone, and forget about robbing people that vote against you.
Keep your hand OFF my loopholes, damnit.
"Accountant",
As staghounds pointed out above, "loophole" is such a wonderfully Humpty Dumpty word, meaninging exactly what the speaker wants it to, neither more nor less...
Considering the multitude of Randian allusions, I feel honor bound to post this:
http://uncabob.blogspot.com/2008/04/narcissism-and-scapegoating-of-ayn-rand.html
(a libertarian having a field day with Ayn Rand's fiction/philosophy, and why it attracts guys like Phil Elmore)
YT,
I count one allusion to Atlas Shrugged (in the title) and one to Lewis Carrol (in my last comment).
The linked essay was interesting, but A) I'd read it, thanks, and B) the author, while correctly deducing that Ayn Rand was nuttier than a shithouse rat, brought a cornucopia of his own prisms through which to examine the topic. I'm assuming you have a point looming somewhere in the distance?
To me, I see this as a perfectly legal method of reducing ones or your corporations taxes. O just wants more money so he is essentially going to tax profits made offshore. This is on top of the taxes we already pay in those countries.
What he calls to eliminate "check-the-box" provision is what makes US companies competative in many countries. We don't have to pay taxes there and also for the US on profits we made overseas.
So, bottom line, more taxes, more layoffs. Pretty straight forward.
Raising 9 billion a year when Barry is running the deficit up close to 2 trillion is chump change. When the bill for his party comes due, it's going to suck.
Closes an overseas tax loophole - and creates a tax incentive to spend the money here, in America.
And the problem is?
I guess I'm "opening my pie hole..."
I count one allusion to Atlas Shrugged (in the title) and one to Lewis Carrol (in my last comment).
I think I posted a comment sometimes around 1000 GMT+1, but somehow it's not here.
Anyway, my point:
1) Rand was.. . Murray Rothbard wrote an essay on her and objectivism. It's an entertaining read..
2) because of the scapegoating, splitting and other aspects of unhealthy personality present in her works, people who take her most seriously are those on the same mental frequency (borderlines, narcissists, or just un-adjusted). As someone once aptly put it, if you want a black/white, good/evil world, start playing chess. Real world can't be reduced to black and white. At best to a fractal grey mess.
3) considering how much hatred and nonsense is in her books, I find it strange that a great deal of smart people list her as a favourite author. I don't dig hate, but I think they'd be much better off re-reading Wealth of Nations instead. It's better written, and author has a sense of humor.
4) the popularity of her writings it may well be down to this..
"If you make people think they're thinking, they'll love you; but if you really make them think, they'll hate you."
Imho Same stuff as Marxism. Provides a seat of neat, elegant, but wrong answers to tough questions..
Immature people expect there's an answer to everything. Truth is, no one guarantees there's an answer to every question.
So they lap up any stuff that offers 'wisdom', fast..
Anyway. I have a nasty test tomorrow, haven't slept for the past 50 hours, and I think I shouldn't be posting anywhere at all..
Sorry.
I count one allusion to Atlas Shrugged (in the title) and one to Lewis Carrol (in my last comment).
I think there's been about maybe, two a week over the past month. Anyway, I suppose it may be Atlas Shrugged is some sort of shared cultural background.. so it's a reference everyone'll get.
"...because of the scapegoating, splitting and other aspects of unhealthy personality present in her works, people who take her most seriously are those on the same mental frequency (borderlines, narcissists, or just un-adjusted). As someone once aptly put it, if you want a black/white, good/evil world, start playing chess. Real world can't be reduced to black and white. At best to a fractal grey mess..."
I'd love to force feed this shit right back to you.
This is the pot calling the kettle black, you ignorant son-of-a-bitch.
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