OBAMA GOING AFTER CORPORATE TAX DODGERS

"The steps I am announcing today will help us deal with some of the more egregious examples of what is wrong with our tax code" -Barack Obama, May 4, 2009


Watched a news conference today, Obama was outlining a plan that will close loopholes and force American Corporation that set up "shell companies" overseas or "offshore" such as the legendary Cayman Islands to pay the taxes that they are legally obligated to pay...check out excerpts from the L.A. Times:

President Obama said this morning that he plans to crack down on American companies that legally avoid U.S. tax obligations by investing money in countries with lower tax rates.

He also plans to eliminate tax deductions for companies that achieve similar breaks by sending jobs overseas, while extending the deduction for those who create domestic jobs.

The practice of "offshoring" cheats other taxpayers, the president said, and those who circumvent the system are "aided and abetted by a broken tax system" that he pledged to fix.

The practice of "offshoring" doesn't cheat others just because the President says so, it cheats others because it cheats others, period.

I feel it is imperative that we work to end the reign of the multi-national wholesale robbery of the American People, as well as the robbery of whole nations and peoples across the planet.

Remember, Americans, even though we like to think we're the only country on the planet, we are not alone, and the actions of this nation reverberate throughout the world like no other nation in the history of the world. The article continues:

Speaking to reporters in the Grand Foyer of the White House, Obama said he doesn't think companies should be rewarded more for creating a job in Bangalore, India, than for creating one in Buffalo, N.Y.

"I want to see our companies remain the most competitive," the president said, while not rewarding them for moving jobs overseas.

The president's plans could yield an additional $210 billion in tax revenue over the next decade, according to the administration.

Obama's plan would:

* Eliminate some tax deductions for companies that earn profits in countries with low tax rates.

* Make permanent a research and experimentation tax credit, which is offered for creating domestic jobs.

* End a loophole that allows corporations to avoid taxes by reporting to the U.S. government that they're paying taxes in foreign countries and then telling the foreign countries that they're paying here.

This is important. It is time the corporations in this country that have dodged the IRS (while most of us sweat dealing with them at all,) to start paying and contributing to this country on a very visceral level. I want these motherfuckers give till it hurts.

Obama did bring this up more than once during the campaign , and after eight years of Bush, we handily voted Obama in over the Republicans and their policies, policies that have lead to the destruction of the middle, working class, and created more hardship for the poorest in the US, as well as around the world.

The Republican response? Senator Mitch McConnell, Republican from Kentucky:

"a significant tax increase on companies" Ever the defender of the corporation, never a defender of his or any constituents that don't earn 6 or more figures a year...

As soon as Rachel Maddow's clip from this evenings' newscast on MSNBC, I wil post it. As always Rachel breaks it down. Suffice it to say, the Republicans have virtually no ideas that will benefit anyone other than their cronies that line their pockets.

TRICKLE DOWN ECONOMICS DOES NOT WORK. The Republicans ideas are old and they have failed. (Thanks Mr. Prezz)

So, here is a link to tired ass McConnell senate website, here is his number:
202.224.2541

and a link for all 50 states

I will contact Blanche Lincoln of Arkansas as well as Mark Pryor, along with the Ladies of Washington State. I'll let you know what they said tomorrow, and I'll get that video from Maddow's posted along with it...peace Searchers, we are in a fight for our country, and it aint against Obama.


BTW, the Republicans are already screaming about Obama's Supreme pick, and the pick doesn't even exist, yet.

Rachel Maddow is currently reporting on Jefferson Sessions, Republican senator from Alabama, evidently a racist s.o.b., I will research him more, and track down the quotes Maddow threw up onscreen. He is a member of the Judiciary Committee that will handle the nomination of Obama's Supreme pick. I have contacted Session's office in the past regarding some ridiculous comments he made, so I will be watching Senator Session's behavior very closely during the nomination process. Peace-

WHAT MORE CAN BE SAID ABOUT THE REPUBLICAN PARTY?

Please be referred to the Field Negro: Seriously if you can't beat them join them? Are you serious? Here is a cut and paste from the Field Negro, a quote from Michael Steele, the new head of the Republican Party:

"We've been misdefined as a party that doesn't care, a party
that's insensitive, a party that is unconcerned about minorities, a party that's
unconcerned about the lives and expectations and dreams of average Americans,
and nothing could be further from the truth.."

I think, Mr. Steele, you and your ideology could not be further from the truth, the Republican party is unconcerned about lives of all that is not corporate, that is the reality, that is why I fired the Republicans.

The Republican Party has to be the most transparently stupid political party and group of neanderthals semi-functioning today. Congratulations, Republican Party, you have succeeded in insulting not only me, my wife, but my 6 year old son as well...

GOTTA LOVE THOSE REPUBLICANS

While combing through various blogs today, and thinking about trickle-down economics and the utter failure of it, I came across this quote that I believe came from the daily kos:

"All economic theories revolve around the redistribution of
wealth. Supply side economics, (Reaganomics, Bushonomics, McCainonomics),
believe in redistributing it upwards in the hope it will trickle down. To
paraphrase Warren Buffet-Class warfare already exists, and the wealthy side is
winning."

Trickle down economics does not work. I find it very telling that the United States, with it's total embrace of unregulated capitalism, when faced with the complete failure of its financial system and the potential turning out into the streets millions of the poor and middle class, jumps in and pumps billions of dollars into the economy to keep it from crashing: something that the US, in collusion with the World Bank and IMF, did not allow other nations to do when it became necessary to rescue their populace when they obtained loans with these organizations with odius strings attached.

And these nations saw the complete collapse of their economies.

Check out the history of Chile, Argentina, and others.

Here is something else I found today:

Special to The Press-Enterprise
An Inland Republican women’s
group sent
out a newsletter showing this fake $10 “food stamp” with Barack
Obama’s face
on
it.
She said she doesn't think in racist terms,
pointing out she once
supported Republican Alan Keyes, an African-American
who previously ran for
president.

So supporting Alan Keyes doesn't make you racist?

I cannot believe in this day and age that someone in the United States, especially a white woman presumably well off financially, doesn't know the racial over tones that are implied when fried chicken, kool aid, ribs and fucking food stamps are associated with people in the US of African descent.

What a fucking joke.

The appalling stupidity of the Republican party continues to astound me...

It is time for a systemic change in the United States.

Peace-

Mike

LUKJ