May 7, 2009
(All Over) - You have heard, here, many times before, that Liberals do not
know how money works. The recent blow from the White House proves this axiom.
His Barackness let go a stream of covetousness against American businesses who
invest and produce overseas, calling them, in effect, tax cheats. He demanded that
the so-called "loopholes" in the current confiscatory corporate tax code be eliminated.
"Offshore" accounts of Americans were going to be taxed, quod he.
First, we need to set the record straight. After WWII, in order to reinvigorate
the economies of Europe, Asia, and basically anybody who was having a tough time,
Congress passed laws which would give incentives to the great companies and successful
businessmen of our Country, to infuse into the world economy large sums of cash.
Ike's solution to Marshall's suggestions worked. We poured cash into Europe and
Asia and Africa and South and Central America. But America was also insuring
the loans that were given overseas, thanks to Truman. It worked.
Eisenhower knew that taxes on the successful and rich were outrageous, here in
the States - over 90%, in some cases. It was so successful, that many economics
historians now point to it as a second cause of the 50's recession. Money left for
overseas and evaporated because of government insured defaulted loans. Both
caused a dearth of cash in America.
Kennedy, who was NOT a Liberal, cut both corporate and individual tax rates and
it became profitable to invest in America, again.
Since then, the tax rates on corporations have gone back up to the point that it's
cheaper for any company to do business in another country than to do business in
the land of the free. (liberals also like unions which drive up the cost of labor -
another reason to seek cheaper business conditions, elsewhere.)
Yes, Reagan and the Bushes cut corporate taxes, but that didn't last long and we're
now suffering from one of the highest corporate tax rates on Earth! This is dumber
than Amazon's new $500 Kindle®.
It's even dumber than 10%ethanol®
gas, which gets 25% fewer mpg than regular gas.
Up to now, though, it's been OK, because the rich and successful corporations did
not have to pay taxes on money earned in other places - they did not have to claim
it as US income.
Now, the President thinks it's a hot idea to raise taxes on the rich and business by
making people pay for income earned in other countries, taxed or not there.
So that you can't say nobody warned his Barackness (in fact, Boortz has talked about this
already), let him now be warned that if he makes these tax changes real, with the help
of his lapdogs in congress and the media, BUSINESSES WILL CLOSE UP SHOP
AND MOVE OUT OF THE COUNTRY. Let me say this again: IF HE MAKES
THESE TAX CHANGES REAL, BUSINESSES WILL CLOSE IN THIS
COUNTRY!
Do you know how many businesses there are in this state that could do business elsewhere?
As Brian says in Monty Python's Life of Brian, "A lot!"
If you think you're in a recession now, just wait 'til this thing gets going.
