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My Take On Obama And His New Tax Plan 5/04/09

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posted on May, 4 2009 @ 02:50 PM
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So Obama decides he’s going to crack down on tax evasion and close loopholes making it cheaper to ship jobs over seas. First thing is first I don’t buy it. If he wanted to crack down on tax evaders he would have to start out in his own administration including cheats like Geithner and Rahm Emanuel who hasn’t paid his property taxes in years. But let’s assume I’m wrong let’s assume he does decide to pursue these two items. I say it’s about damn time.

As a taxpayer I get whacked every year at around 35% and I have the returns to prove it. That’s not including all the other taxes I pay via state and local taxes. Why is it that your average fortune 100 company pays on average around 2% in taxes while thieves like Goldman Sachs even pays 1%. How is it that I a human being is paying 35% and an illusion is paying 2%? 35% in taxes equals 35% slavery for when you tax a persons labor you are essentially making him a slave to the government for that %. Now the multinationals are out in full force lobbying the government to put a halt on this because it’s not good to raise taxes in a recession. I say this isn’t a tax raise this is paying back your share of the taxes you have NOT been paying for the past several years and it’s time to pay up. This from many companies who also in 1980 made 40x their average employee but now make 400x their average employee. So you’re going to ship our jobs over seas, avoid paying your corporate taxes, then take those extra funds and pay yourself more?

Now I just want to make something clear I’m no left wing loon looking for tax hikes or do I want to “stick it to the rich”. That’s not it at all I’m just asking for everyone to pay their share. In a perfect world the 16th Amendment would be abolished and we would have no income tax just a fair tax (national sales tax) but I know it’s not going to happen because then people would for sure have to pay their share in taxes and it will also kill our consumer driven economy. I don’t think we should tax labor for as I pointed out it is equal to slavery. But the fact is this is what we have right now so deal with it.

Now he also wants to address rewarding companies who ship our jobs over seas. Per the article
“Under the Obama plan, companies would no longer be able to deduct expenses supporting their overseas operations until they pay taxes on their profits.
The plan also would end a practice by which some firms take big deductions against their taxes by inflating the amount of foreign taxes they have paid, Obama aides said.”
www.cnbc.com...
This job hits near and dear to me because I have several family members who have seen their jobs shipped over seas. I’m not talking Chinese labor type jobs I’m talking accounting jobs being shipped to India. These multi nationals have no loyalty to our country otherwise we wouldn’t be dealing with this. It’s time we bring these jobs back over here, we start making products again, and we start shipping them out to people so we can get out of this debt we are in. Let’s also take a little advice from Henry Ford and that is pay your employees well. It’s those same employees who come back to buy your products. We need to do these things because we are bankrupt here not only financially but it seems morally we are too.

[edit on 4-5-2009 by tjeffersonsghost]




posted on May, 4 2009 @ 06:07 PM
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reply to post by tjeffersonsghost
 


I don't know if it's going to work honestly. The two biggest reasons that corporations flee the US is:

1. Our citizens demand outrageous pay and benefits .. not all, but a good many are over paid, especially in manufacturing and such. GM, Ford, etc are perfect examples of this.

2. Our Country's tax system is the most punishing in the World. It's no wonder the corporations flee to avoid the excessive taxes we place on businesses (and individuals).

I don't favor huge corporations raking in billions while treating workers like crap, but there needs to be a meeting in the middle so to speak.

Obama wants to increase taxes on businesses that are already hurting..

imo, if you wanted to end this trend of shipping jobs over seas.. you need to end free trade. You can even lower personal/business income taxes, as tariff would help cover those costs. Any corporation that moves production off American soil could have a steep tariff applied to their products.

This way only those guilty institutions are punished.



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