Obama targets tax havens, and corporate America shudders; CSM

[swanson]

Is the Obama administration on a personal crusade against personal success and capitalism?

This administration has no sense of itself past greed and power consolidation.

Many of the appointees Obama has made have all dodged or had taxed problems. The hypocrisy is rife with this pack of political predators.

swanson

Obama targets tax havens, and corporate America shudders

http://features.csmonitor.com/politics/2009/05/04/obama-targets-tax-havens-and-corporate-america-shudders/

The plan to crack down on individuals who hide cash in foreign accounts has broad support. But eliminating tax havens for American companies could put them at a disadvantage internationally, experts say.

By Peter Grier  |  Staff writer/ May 4, 2009 edition

***Edited by Morning Sunshine, in accordance with DMCA rules and regulations.

[Jimbo]

 The producers need to speed up the inevitable (socialism always fails) and quit producing. Once this happens, the goobernmint "entitlements" to parasites won't be funded and the nanny state will implode. I'd give a year's pay to see Comrade 0 and Rahm Immanuel melt down when that happens .

[exoduster18]

So let me get this straight......

They are going after the big guys that employ the producers who buy from other producers who keep the other big guys in business.....

By doing so, the big guys have to increase there prices to ensure that their profits are not impacted by this. But by increasing prices, you hurt the producers who support the big guys. By causing the producers to have to pay more for a product, the producers are going to buy less of that product which then hurts the big guys as they have to lay people off due to not needing to produce more....but rather produce less....which then hurts the producers as they are laid off and unable to produce anymore.....which further lowers demand for a product and (using the aforementioned cycle) continues on and on until the whole thing collapses....

Makes sense doesn't it? If you lower taxes across the board, then people buy more, thereby stimulating the economy as there is a higher demand for goods......the higher demand means that a higher supply is needed...which means that more jobs are created.....

You can see where I am going with this one....so I'll shut up now as I am not an economist.......

[Jimbo]

 The nations that host these havens will retaliate economically. Memo to the Obama administration, republicrats and demicans alike have made our economy global. Any action will have a reaction we cannot control.

[“Mark”]

The nations that host these havens will retaliate economically. Memo to the Obama administration, republicrats and demicans alike have made our economy global. Any action will have a reaction we cannot control.

I don't think they need to. Instead, new corporations will be formed overseas instead of the US. Obama needs to realize that the world system is a competitive capitalist system and money isn't under his thumb as much as he'd like it to be.

[Pathfinder]

Is the Obama administration on a personal crusade against personal success and capitalism?

Short answer - Yes

Longer answer - Yes!

Remember, bho was raised by a communist, mentored by a communist and a hate America first pseudo preacher. What part of that did the electorate miss or not understand?

[Jimbo]

"What part of that did the electorate miss or not understand?" That the nature of communism is lethal. Seems that nobody recalls the stacks of millions of corpses it has left in it's wake...