Obama - tax like a maniac & spend like a drunken sailor

About: blameworthy - 25 people to blame for the financial crisis - time

Alinsky's rules #5 - Ridicule is man's most potent weapon. & #12 Pick the target, freeze it, & personalize it.

Time Magazine dutifully chimes in with the 25 People to Blame for the Financial Crisis.

Obama continues his anti-business, anti-capital charge with:

source: ...
WASHINGTON " Wall Street is not going to play as dominant a role in the economy as regulations reduce "some of the massive leveraging and the massive risk-taking that had become so common," President Barack Obama says.

which undoubtedly will be implemented with a whole new series of tax increases & the closing loopholes including double taxing profits made in multiple countries by US companies.

source: ...

"The United States is the only major industrialized country which double taxes the overseas earnings of our companies. Since other countries don't subject their companies to double taxation, U.S. companies need deferral to stay competitive in the global marketplace," said the chamber's chief economist Marty Regalia.

"When you limit deferral, you limit the ability of U.S. companies to compete, you impede growth in the U.S. economy, and you cause the loss of jobs -- both at the companies directly impacted and companies in their supply chains," he said.

... now that Obama has demonized business & investing (see also 11899, redefining how secured credit works for housing & bankruptcy,etc - how in the hell does he ever expect to reverse the downward spiral of the economy. His answer is socialism where the government regulates everything in the economy.
This latter idea is called a planned or command economy - the best examples were the Soviet Union & China under Mao.

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Mark de LA says

Greedy Big Government now looking at everything to tax, more taxes on already 300% taxed cigarettes, beer & now sugar?

More tea parties folks!

This time let's drive the point home with gusto!

Mark de LA says

Let's see - hmmm...

more taxes on tobacco & more people will quit (that was the original excuse for over taxation of tobacco). Well what happens if everybody quits, where are the taxes going to come from to support health care? beer? sugar. How is this going to help the economy by reducing sales?

Mark de LA says

~a VAT will hurt everyone.

source: ...

With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax.

Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity.

At a White House conference earlier this year on the government's budget problems, a roomful of tax experts pleaded with Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama's policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate.

...

Ever wonder why government doesn't ever work on the other side of the equation & quit spending our money??????????????????????????

Mark de LA says

(***)

Flint you may be on the block.

Obama - tax like a maniac & spend like a drunken sailor

About: blameworthy - 25 people to blame for the financial crisis - time

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