May 04, 2009

Does he even listen to himself?

Tech companies don't seem too happy about proposals Obama made today that would crack down on tax breaks they enjoy for doing business overseas. And he sounded completely incoherent in laying out those proposals:

Obama, echoing statements he made in last year's campaign, said he is attempting to overhaul a tax system that he described as "full of corporate loopholes" and excessive rewards for U.S. companies that create jobs in other countries.

"One of the strengths of our economy is the global reach of our businesses. And I want to see our companies remain the most competitive in the world," Obama told a White House audience on Monday.

But he cited a 2004 study that found U.S. multinationals paid $16 billion in taxes on $700 billion of foreign earnings. He added: "The way we make our businesses competitive is not to reward American companies operating overseas with a roughly 2 percent tax rate on foreign profits, a rate that costs taxpayers tens of billions of dollars a year."
Okay, first of all, who the fuck are you to be talking about things that supposedly "cost taxpayers" billions of dollars per year? You've rammed the most massive spending in the country's history down our throats. George W. Bush looks like a budget hawk compared to you, and that's saying something. And besides, this doesn't "cost taxpayers" anything. It deprives big government assholes like you of money that you'd doubtlessly waste on building dogparks and/or funnel to your buddies at ACORN.

Secondly, how do you ensure that "our companies remain the most competitive in the world" by taxing them more? Oh, right, you're going to squeeze every last buck out of them in order to fund your agenda. Then, when they can't make a profit anymore, you become majority shareholder.

Smartest. President. EVAR. Yeah.

Oh, and all you Silicon Valley liberals who backed this guy can reap the fucking whirlwind. Good job.

Posted by: Sean M. at 10:05 PM | Comments (4) | Add Comment
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