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At the Fiscal Cliff I Cry "Jump, Jump, Jump!"

SpaceVegetable Wrote: Nov 13, 2012 8:35 AM
Just look at California for a preview. They've raised taxes on businesses and now businesses are fleeing the state to find more reasonable terms under which to operate. Businesses are started to make money. WHen that ceases to be a possibility, they will wither move elsewhere or fold entirely.

The most expensive tax in the history of the world has been proposed by the Obama administration and to hear them tell the story, you’d think the rest of us should be grateful.

“We want to create a global minimum tax,” said vice president Joe Biden, “because American taxpayers shouldn’t be providing a larger subsidy for investing abroad than investing at home.”

A global minimum tax is a tax on all profits made by nominally US companies that operate overseas. They operate overseas for various reasons, but one big reason is because corporate taxes are higher in...