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Obama : we will close some loophole. Reality : more new loopholes are opened

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posted on Feb, 24 2012 @ 02:32 PM
And bonus : loopholes for corporations that gives money to him.

Crony capitalism, yes we can!

To close tax loopholes, Obama would open new ones

President Barack Obama wants to close dozens of loopholes that let some companies pay little or nothing in taxes. But he also wants to open new ones for manufacturers and companies that invest in clean energy.

To some analysts, the new loopholes risk upending the level playing field Obama says he wants to create.

Some also fear that companies could game the system to grab the new tax breaks.

"The administration is not making sense," says Martin Sullivan, contributing editor at publisher Tax Analysts. "The whole idea of corporate tax reform is to get rid of loopholes, and this plan is adding loopholes back in."

This is gonna be bigger than Solyndra.

posted on Feb, 24 2012 @ 02:44 PM
I just hope it backfires so we can finally learn what really needs to get done and the US back on track. I keep looking back at the last decade and saying to myself. Holy hell how did things get this bad. I'm 25 now and realize just how bad things have gotten with very poor management. And I'm not looking forward to the future if things don't turn around before things get even more out of control than they already are.

posted on Feb, 24 2012 @ 03:00 PM
I think this piece is related from the Daily Show interview with Bruce Bartlett about his new book on tax reform, and reveals the slippery mechanism of tax reformation.
The interview starts at 13:50, and the interesting part for me is at 16:16. A very good discussion here:
So any loophole is okay and accepted as long as it lowers taxes, but then you can never close the loophole because it raises taxs....brilliant.


posted on Feb, 24 2012 @ 03:23 PM
Obama is a predictable liar, almost anything he says the opposite is instead true. The only way to get rid of loopholes is to close all regulations by the federal government. Regulation leads to loopholes. But the wonderful regulations, the government endorsers will cry, without them the loopholes may be bigger! Not true though. How do you stop prohibition crime? Outlaw prohibition.

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