What is it with Democrats and taxes? – Tea Party Nation

What is it with Democrats and taxes? – Tea Party Nation.

Posted by Judson Phillips

What is it with Democrats and taxes?  More correctly it should be what is it about Democrats and tax increases?

 Democrats are in love with taking other people’s money.    In another era they would have been highway robbers.  Now they are politicians.

 The Democrats scream about fairness.  Really?  What is fair about taking what someone has worked hard for and transferring it to someone who will not work?  What is fair about punishing someone who has worked hard to get ahead, taking it from them and giving to those who will make no effort to get ahead?

 When the top 1% of income earners pay half the income tax, what is wrong with this?  What is fair about that?  When the bottom half don’t pay any income tax?  What is fair about that?

 What is fair about giving an income tax refund to someone who does not work or someone who is in this country illegally?

 The Democrats’ theory of fairness is an absurdity.  It turns fairness on its head. 

 Now, we have more insanity from the Democrats.  As of April 1, the United States will now have the highest corporate tax rate in the world. 

 Anyone want to take a guess what that will mean? 

 Japan is cutting its tax rate.  Germany has cut its corporate tax rate, as has Canada.  Even Russia and China have lower tax rates.  What does all of that mean?

 It means corporations based in those nations have an advantage over American corporations.    It also means American corporations will find it more advantageous to move overseas.

 Of course, Obama and the Democrats think it is unfair to lower corporate tax rates.  Therefore nothing is being done to cut corporate tax rates.

 Just out of curiosity, who the hell do the Democrats think pay corporate taxes?  Here is the answer for the fairness crowd.  Wal-Mart passes those costs to the consumer.  So does Ford and John Deere.  Name a corporation and it passed its corporate tax bill along to the consumer.

 What would happen if we ignored the morons of the fairness crowd and did something really smart like eliminated the corporate tax?   Corporations would have more money!  Oh you can hear the liberal screams from here. 

 But what would they do with that money?

 There are a number of things.  They could pay dividends to their shareholders.   They could spend that money on research or marketing.  They could even lower their prices.  In other words, good things would happen.   The government would not get that money, but then again, that falls under the heading of a good thing happening.

 Joe Biden, the official jester of the Obama Regime has come out with a proposal.  He thinks that there should be a global minimum tax.    For those who complain that Biden has only a room temperature IQ, clearly they have over estimated him.

 Biden thinks that a 20% global minimal corporate tax would be fair.  I think Joe Biden in a rubber room would be fair. 

 Instead of reducing America’s tax rate, Biden thinks everyone else should have theirs forced up.  While there is immediate outrage against that idea, there is another question.  Where would this money go?

 Would it go to an Obama slush fund?  Would it go to the United Nations?  Would it go to the Harry Reid Cowboy poetry fund?

 Who knows?

 Who cares?

 It is a really bad idea.   Of course, the Obama Regime is a really bad idea.

 As with all bad ideas, we can change our mind and do something about it.

Related articles

• US Corporate Tax Rate Is Now The Highest (tarpon.wordpress.com)
• GOP: Corporate tax rate no April Fools’ joke (thehill.com)

Bill Clinton Is Right! – Chuck Norris – Townhall Conservative

Image via CrunchBase

Bill Clinton Is Right! – Chuck Norris – Townhall Conservative.

While Democrats and Republicans struggle to make headway in debt- and deficit-reduction talks in Washington, former President Bill Clinton pontificated in a recent issue of Newsweek about his own solutions for our sluggish economy.

I don’t agree with all of Clinton’s “14 ways to put America back to work,” but I definitely believe he’s right about one of them: cutting corporate taxes. Yes, you read that right. The chief paragon of the Democratic Party espouses cutting corporate taxes, while the majority of his political chums, including President Barack Obama, advocate raising taxes on the wealthy. In his Newsweek article, Clinton was emphatic: “Cut corporate taxes. … I’d be perfectly fine with lowering the corporate tax rates (and) simplifying the tax code.”

America’s corporate tax rate is now the second-highest in the world. Since 1993, it has been 35 percent. Lowering it would better position America to compete with other countries, reduce the loopholes that cause unfair disparities and, mostly, bring production and offshore monies back within our country and economy.

Six months ago in his State of the Union speech, President Obama coddled the idea of lowering the corporate tax rate. But ever since, his actions have affirmed that it wasn’t a very serious or long contemplation, especially in light of his proposals to further tax the wealthy, corporate jet owners and oil companies.

Robert McDonald, CEO of Procter & Gamble Co., and groups such as the Washington-based Business Roundtable have been trying for months to get the Obama administration and lawmakers to set aside deficit concerns and focus on decreasing the corporate tax rate. Even the Bowles-Simpson plan recommended it, but it, too, was rejected by the present administration.

So why hasn’t the Obama administration given this corporate shot in the arm to our economy? Answer: According to the congressional Joint Committee on Taxation, each percentage point reduction to the 35 percent corporate tax rate could cost $8 billion or more a year in revenue to the Treasury. There’s the rub!

The fact is that the federal government’s actions and regulations have done more to cripple than they have to help Wall Street and Main Street businesses across America. Proof came this past Friday, when we learned that unemployment jumped back up to 9.2 percent. And the U.S. Small Business Administration recently reported that federal government regulations over small businesses cost our economy more than $1.75 trillion annually. That translates to $10,585 per employee for a business with fewer than 20 employees. Those same companies pay roughly $2,830 more per employee than those with 500 or more employees to comply with government regulations. If Washington is serious about reviving our economy for the long term, then major reform is needed to remove these types of federal barriers from the private sector.

America’s economy and standing in the world scream for a corporate tax cut. But because the White House has a record of double talk, broken promises and underhanded tactics, the nonpartisan and pro-taxpayer organization Americans for Tax Reform drafted some principles for the White House to follow if it wants its corporate tax cut to have a stimulating effect on the economy:

1) “The rate needs to come down — way down,” ideally under the average European rate, 25 percent, so we can “attract jobs and capital from the rest of the world.”

2) “Don’t raise taxes.” Corporate tax decreases “should not be an excuse to raise net taxes” (as Obama’s deficit commission did).

3) “Move … from ‘worldwide’ taxation (where all income of U.S. companies from all around the world is liable to be taxed by the IRS) to ‘territorial’ taxation (where only U.S.-source income is taxed),” making “international deferrals and credits unnecessary.”

4) “Resist the temptation to lengthen depreciation lives,” which “will only bias toward consumption and away from productive investment.”

5) “Remember that the corporate income tax is only the first act of a two-act play. After-tax corporate profits distributed to shareholders are double-taxed as dividends. After-tax corporate profits retained by firms eventually come out in the wash as taxable capital gains to shareholders. An integration of both bites at the apple would truly be a pro-growth and comprehensive tax reform effort on the corporate side.”

6) “Don’t forget about corporate capital gains and dividends received. Unlike individuals, corporations don’t have a preferential rate on capital gains, and cannot exclude all the dividends received from other corporations. Dealing with the capital stock and portfolio income of corporations is a necessary component to reform.”

7) “Don’t pick winners and losers. … Favored companies should not get light treatment. Rather, the goal of a revenue-neutral corporate tax reform (as opposed to a simple rate cut, which remains ATR’s preference) should be to broaden the base as much as possible in order to lower the rates as much as possible.”

America’s economy and national debt are at the brink, and it’s time the White House quit living in a fiscal fantasy land. Even more, it’s time Americans quit believing the present administration is going to wake up and fix our economy with its inadequate and inept solutions.

It’s time that all Americans started working and preparing for a new president, before our country faces a collapse from which there is no recovery and a permanent vassalage to all the countries to which it owes money. As Thomas Jefferson once said, “we must make our election between economy and liberty, or profusion and servitude.”

Related articles

• Corporate Tax Escapees and You (nader.org)
• In a Weak Economy, New Taxes Make No Sense – Donald Lambro – Townhall Conservative (gds44.wordpress.com)
• When it comes to the debt talks, Obama is no Bill Clinton (blogs.telegraph.co.uk)
• Budget Lies and Distortions – Bruce Bialosky – Townhall Conservative (gds44.wordpress.com)
• O’Bummer: The Tax Scam Faileth – John Ransom – Townhall Finance (gds44.wordpress.com)
• Treasury Secretary Now Taxing Our Patience – Jim Gilmore – Townhall Conservative (gds44.wordpress.com)
• The Sane Budget Fix You Probably Didn’t Hear About (themoderatevoice.com)