Killing consumers one act at a time...
Since President Obama has never run so much as a corner store, it's easy to understand why he might just be so confused about how the real business world works. He's never had to meet a payroll. He's never had to do projections, or cost analysis, and certainly has no idea how to help poor people.
Because he keeps doing things to make it more and more difficult for them.
Today he's announcing that
he's going to crack down on business taxes, discounting some of the deductions that they are allowed to take.
He calls it closing loopholes. Economists call it lengthening the chance of economic recovery from his worst in a generation recession that he seems insistent upon making last as long as possible.
He says companies are avoiding paying taxes they should be paying. Yet he's not accusing them of breaking any laws. In other words, in a global economy if they can base portions enough of their operations to be able to establish a more profitable address to operate from he now wishes to take that opportunity away.
Will he do the same to foreign owned businesses?
No.
Why?
Because he wants their trade and operation to take place in the U.S.!
What he is willing to do is make it more expensive for businesses to do business, and ultimately that doesn't hurt anyone more than John Q. Public.
See here's a little concept that Obama does not realize, nor does he understand. Businesses are not the individuals who pay businesses taxes.
Consumers are.
Every time a business is charged a cost to operate from the government (taxed). They line-item that puppy, and fold it into the cost of the product, good, or service.
They do the same thing with their light bill, phone costs, internet support. The customer pays for all of it. THEY HAVE TO. Otherwise the business would not be able to operate.
See President Doesn't-Have-A-Clue is still insisting on raising the income and federal tax rates on the working people. Economically speaking this is going to reduce the amount of capital that can be raised for the federal treasury. To make up for that shortfall he is now being forced to look at "creative measures" to attempt to raise the amount he will need to fund his largest expansion of government in the history of the United States.
He thinks there is some limitless pot of gold for businesses (which he deems evil and greedy to begin with) and that simply barking at them, "pay more," will solve his problem.
He really needs better advisers. Because now in addition to the extra taxes his tax increases will bring about, and in addition to the tax on the little guy that "Cap & Trade" taxes will bring about, NOW President Obama is adding his 3rd layer of taxes onto the consumers, citizens, little people of America by being punitive in operational taxation against businesses.
I'm sure there will be more to come. But just remember this important concept, "Businesses don't pay taxes... people do."
And thank President Present when you get tapped once more to help fund all this "Hope and Change!"