Thursday, April 26, 2012

Obama Would Rather Punish Success Than Increase Revenue

Candidate Obama is way in over his head while trying to explain his resentful philosophy.
Then Obama steps a big puddle of hypocrisy: "I believe in the principle that you pay as you go ... and you don't increase spending unless you're eliminating some spending or you're finding some new revenue."

 IBD Editorials- On April 1, Japan lowered its corporate tax rate, leaving the U.S. with the highest corporate levy in the developed world. That much is well known. What is lesser known, but no less true, is that much of the world is astonished by the lack of U.S. will to preserve its international competitiveness.

As Mieko Nakabayashi, a member of Japan's House of Representatives recently observed, "With most of the world — Japan included — cutting corporate tax rates and employing territorial tax systems to remain competitive, the U.S. must surely know that its hesitancy to do these things is handing the advantage to its international competitors. They will suffer from that hesitancy while we and others outside the U.S. will benefit."

This is not a problem of our tax rate going up. Rather, it's a case of the U.S. standing still while our trading partners jockey to create the most attractive business environment.[...] -->Read more