Business

President‘s Proposed Corporate Tax Cut Called a ’Disaster’…‘Total Bust’

Presidents Proposed Corporate Tax Cut Called a Disaster...Total BustPresident Barack Obama on Wednesday proposed a lower corporate tax rate and an end to dozens of loopholes that he said encourage companies move jobs and profits overseas.

“It’s not right and it needs to change,” he said.

Although most analysts agree that the corporate tax rate is too high, and that there are far too many loopholes, many disagree with the White House’s proposal.

The president said that he wants to lower the corporate tax rate from its current rate of 35 percent, the highest in the world after Japan, to 28 percent — 3 percent higher than the rate sought by congressional Republicans. He also said that manufacturers would “receive incentives so that their effective tax rate could be even lower,” according to the AP.

“It’s a framework that lowers the corporate tax rate and broadens the tax base in order to increase competitiveness for companies across the nation,” the president said in a statement.

Under the proposed plan, corporations with overseas operations would also face an unspecified minimum tax on their foreign earnings.

Presidents Proposed Corporate Tax Cut Called a Disaster...Total BustTreasury Secretary Timothy Geithner said the president’s proposal would eliminate tax loopholes and subsidies that are “fundamentally unfair.”

Geithner also told a Senate committee that “dozens and dozens” of tax loopholes were being targeted for closure, although incentives for “creating and building stuff in the United States” would remain.

“Some will say these proposals are too tough on business, and others will say that they’re not tough enough,” Geithner said.

The president’s proposed plan is the next step in his effort to raise taxes on “millionaires and billionaires” while somehow maintaining current rates on individuals making $200,000 or less.

Republican reaction was less than enthusiastic.

Rep. Dave Camp (R-MI), Chairman of the House Ways and Means Committee, said he “appreciated” the administration’s plan, though it set a corporate tax rate that is — as mentioned in the above — still higher than the Republican proposal of 25 percent. He faulted Obama, however, for not offering a wholesale overhaul of the entire tax system for businesses and individuals.

“While this is a good step by the administration, I will borrow from the president’s own words to Congress from just yesterday: ‘Don’t stop here. Keep going,’” Camp said in a statement.

Sen. Orrin Hatch (R-UT), wasn’t as kind in his criticism. The top Republican on the Senate Finance Committee dismissed the president’s plan as a “set of bullet points designed more for the campaign trail than an actual blueprint for fixing our tax code.”

An administration official promised the plan would not “add a dime to the deficit,” which would mean that some companies could benefit from the changes while others would find themselves paying for them, Wall St. Cheat Sheet reports.

In fact, many businesses that slip through loopholes or enjoy subsidies and pay an effective tax rate that is substantially less than the 35 percent corporate tax could end up paying more under the president’s plan.

It’s worth noting that reducing the corporate tax rate from 35 percent to 28 percent would reduce tax revenues by about $700 billion over the next decade, according to an estimate prepared in October by the Joint Committee on Taxation.

“That means lawmakers would have to find about $70 billion a year in tax increases to keep the package from adding to the budget deficit [emphasis added],” the AP reports.

Well, that’s — um — great news. What tax increases are we talking about here?

Conservative talk radio host Rush Limbaugh explains:

Obama…has announced what he’s claiming to be is a corporate tax cut.  His corporate tax cut will actually raise taxes on businesses by $250 billion.  He‘s cutting the rate to 28 percent but he’s making other changes that will actually result in businesses paying more money.

Limbaugh went on to cite a recent Wall Street Journal report:

“President Obama’s 2013 budget is the gift that keeps on giving—to government. One buried surprise is his proposal to triple the tax rate on corporate dividends, which believe it or not is higher than in his previous budgets.”

“Mr. Obama is proposing to raise the dividend tax rate to the higher personal income tax rate of 39.6 percent that will kick in next year. Add in the planned phase-out of deductions and exemptions, and the rate hits 41 percent. Then add the 3.8 percent investment tax surcharge in Obamacare, and the new dividend tax rate in 2013 would be 44.8 percent…”

You know what it is today?  Fifteen.

Next year, if Obama’s budget were adopted and coupled with what happens with Obamacare, the dividend tax rate will jump to almost 45 percent.

Indeed, with rates that high it will more than make up for the tax revenue lost with the president’s supposed tax “cut.”

Presidents Proposed Corporate Tax Cut Called a Disaster...Total Bust“This is an absolute disaster. This is absolutely purposeful,” Limbaugh said.

Geithner claimed that the president’s plan aims to “help U.S. businesses,” especially manufacturers who face strong international competition.

“Obama’s plan would lower the effective rate for manufacturers to 25 percent by offering other tax incentives that emphasize development of clean energy systems [emphasis added],” the AP reports.

Ah! There it is.

It should also be pointed out that although the president has been promoting various aspects of his economic agenda in personal appearances and speeches, Presidents Proposed Corporate Tax Cut Called a Disaster...Total Busthe decided to leave the unveiling of his corporate tax plan to the Treasury Department.

Unsurprisingly, this has some critics claiming that the president isn’t entirely serious about real fiscal responsibility.

“For the second straight year, Obama has launched a major proposal while deliberately disregarding his own advisory panel’s recommendations,” writes Ed Morrissey of Hot Air.

He continues:

Now his new corporate tax proposal ignores the recommendations from the panel Obama created to much fanfare last year as part of his focus on job creation and economic growth. The obvious conclusion is that Obama has prioritized punitive tax changes on American business in order to fund his spending expansion over economic growth. Republicans need to emphasize that Obama’s job council turned out to be nothing more than a smoke screen, just the same as Simpson-Bowles, and that this corporate tax “reform” is anything but.

Over at the Washington Examiner, Conn Carroll had stronger words for the president’:

Tax reform is boring and complicated, so I’ll summarize the corporate tax plan Treasury Secretary Tim Geithner released earlier today by quoting President Obama: We’re gonna punish our enemies and we’re gonna reward our friends.

What does he mean by that?

Carroll begins by citing Page 4 of The President’s Framework for Business Tax Reform, which reads: “Currently, tax expenditures in the tax code vary dramatically by industry. … The result is a tax system that distorts investment decisions. By allocating capital inefficiently, this system lowers living standards now and could impede technological innovation.”

No argument there. As Carroll notes, the wise thing to do would be to close said loopholes and lower the corporate tax rate.

Seems like a good idea, right? Try telling that to the White House economic team.

“Instead, [the president] identifies industries he doesn’t like (e.g. ‘oil and gas’ ‘insurance industry’ ‘aircraft’) and takes away their loopholes, but leaves other industries alone,” Carroll writes. “This selective enforcement of tax simplification would be bad enough by itself, but then Obama makes it far worse by expanding other loopholes and creating brand new ones.”

And that’s not all.

“Obama also ‘Extends, consolidates, and enhances key tax incentives to encourage investment in clean energy,’” Carroll writes. “This will all be a boon for K Street as they fight to make sure their business qualifies as either a manufacturer, clean energy firm, or (like Solydra) possibly both!”

Echoing these sentiments, James Pethokoukis of the American Enterprise Institute called the president’s plan “a total bust.”

“President Barack Obama…has the temerity to propose a corporate tax reform plan that would actually raise the tax burden on American business by $250 billion over a decade (and de facto on workers, too) without lowering rates to an internationally competitive level,”  Pethokoukis writes, adding that it’s a “terrible, terrible plan.”

Why?

Well, for starters, and as mentioned in the above, the president’s proposal would establish “a minimum tax” on multinational corporations’ foreign earnings.

“So instead of a carrot, Corporate America gets the stick. Instead of lowering the U.S. rate to a competitive level, Obama would raise the penalty on keeping profits overseas,” Pethokoukis writes. “Indeed, the United States is a huge outlier in that it taxes the foreign profits of multinational companies.”

But wait! There’s more!

Pethokoukis adds that, after state taxes, there is no way the effective manufacturing tax rate will stay at 25 percent. Furthermore, the president’s plan will waste scarce resources on “clean energy” subsidies.

“Obama had no experience in the private sector before becoming president. The free market is a sort of theoretical construct he learned about in college. But Geithner should know better,” Pethokoukis writes.

“He’s had lots of contact with all sorts of executives, both at Treasury and when he ran the New York Federal Reserve Bank. If he has any doubts about this plan, he should resign. And if he doesn’t, he never should have gotten the job in the first place,” he adds.

Of course, as mentioned earlier on The Blaze, there’s always the possibility that Geithner is well aware the plan is “a total bust” — he just doesn’t care.

Presidents Proposed Corporate Tax Cut Called a Disaster...Total BustThe Associated Press contributed to this report.

Comments (154)

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  • KINGRUDDY
    Posted on February 23, 2012 at 12:54am

    Headlines should read……
    Curious George Has No Clue!!!!
    For over 3 years this idiot has pushed higher taxes and DAH, doesnt work, so lets look back in ancient history (1980) and try Regan Economics, lower taxes for all , give business incentives to put people to work, glut of sneakers, tshirts, shorts, sporting equipment, other outdoor activities, and put the country to work, just one little idea!
    Wake up America!!!
    Has to be Santorum or we all lose!

    Report Post » KINGRUDDY  
    • calijohn
      Posted on February 23, 2012 at 3:02am

      let‘s all go back to reagan’s tax rates.

      Report Post »  
    • nzkiwi
      Posted on February 23, 2012 at 3:23am

      Who’s the “code pink” guy in the headline photo?

      Report Post »  
    • WeDontNeedNoSteenkinBadges12
      Posted on February 23, 2012 at 5:11am

      “President‘s Proposed Corporate Tax Cut Called a ’Disaster’…‘Total Bust’”

      President? We ain’t got no President. We don‘t got not steenkin’ President for 4 years!

      BARACK HUSSEIN OBAMA
      AKA Barry Obama, AKA Barry Soetoro
      http://i3.ytimg.com/bg/jKZugo0aaREqEyqXIzGDVw/102.jpg

      “It’s A State Secret In America Too” (excerpted to fit):
      http://theobamafile.com/BarackObama.htm

      Original, vault copy birth certificate – NOT RELEASED (lawyers’ fees greater than $2,000,000)
      Certification of Live Birth – Released – Counterfeit
      Certificate of Live Birth – Released – Counterfeit
      Amended Certification of Live Birth – Released – Counterfeit
      Obama/Dunham marriage license – NOT RELEASED (if one exists)
      Noelani Kindergarten records – LOST (this is a big one – read two frames)
      Soetoro/Dunham marriage license – NOT RELEASED
      Soetoro adoption records – NOT RELEASED
      Punahou School application – MISSING
      Punahou School records – NOT RELEASED
      Noelani 3rd Grade records – NOT RELEASED
      Occidental College records – NOT RELEASED
      Financial Aid Records – NOT RELEASED
      Passport – NOT RELEASED and records scrubbed clean by Obama’s terrorism and intelligence adviser
      Columbia College records – NOT RELEASED
      Harvard College records – NOT RELEASED
      Harvard Law Review articles – NONE
      Illinois Bar Records – NOT RELEASED
      Baptism certificate – NONE (he was never baptized)
      Medical records – NOT RELEASED – nor is the source of this nasty scar
      Illinois State Senate records

      Report Post » WeDontNeedNoSteenkinBadges12  
    • WeDontNeedNoSteenkinBadges12
      Posted on February 23, 2012 at 5:12am

      [continued]

      Illinois State Senate records – NONE
      Illinois State Senate schedule – LOST
      Law practice client list – NOT RELEASED
      University of Chicago scholarly articles – NONE
      Rashid Khalidi video – HIDDEN by the L.A. Times

      Report Post » WeDontNeedNoSteenkinBadges12  
    • TomFerrari
      Posted on February 23, 2012 at 5:16am

      Hear that?
      That’s all the jet engines winding up, to help move all these mega corporations to the Bahamas!!

      Hmmm… Might be time to buy land in the Bahamas before they all get there!

      What is truly bizarre, is the obama’s leviathan-sized ego !
      WORLD TAX???
      Does he realize he was elected king of… er, I meant, elected President of the United States, ONLY !?!?
      Let’s see. You raise the tax on foreign earnigns, that increases the price of goods sold abroad. That means the price of their goods goes up. You think other countries might have an opinion on that?
      How long until they start taxing everything WE get from them?
      The REAL effect will be to ACCELERATE the number of companie FLEEING AMERICA !
      You thought jobs were leaving NOW… Just wait until this happens!

      If you want to institute an import tarriff or an export tarriff, we can have that discussion. But, your jurisdiction, Mr. President, ENDS 12 miles off our shores. PERIOD!

      Report Post » TomFerrari  
    • midwesthippie
      Posted on February 23, 2012 at 5:44am

      …taxes shmaxes…the tit-for-tat is humorous considering we have a $16,000,000,000,000.00 debt and no real budget. the two party system has already (essentially) passed a 16 trillion dollar tax increase on our future. p.s. the headline photo is priceless

      Report Post » midwesthippie  
    • Bill Rowland
      Posted on February 23, 2012 at 6:55am

      The blind leading the blind (apologies to those who have lost their sight), a Treasury Secretary who can’t figure out his taxes and helped operate a company that lost money, and a POTUS who has no experience in business and whose only experience in economics was a freshman college course.
      Can you imagine a better combination to propose a budget. (even Geitner says it is not a solution to the problem)

      OMG

      Report Post »  
    • BehindBlueEyes
      Posted on February 23, 2012 at 7:22am

      That’s probably a secret service guy in disguise.
      I‘m sure there’s some kind of electronic devise in that wrap scanning the room for potential danger.
      Looks like Joe is suffering from gas pains but not the kind of gas pains the rest of us are experiencing.

      Report Post » BehindBlueEyes  
    • BehindBlueEyes
      Posted on February 23, 2012 at 7:25am

      @NZKIWI
      My post above was an attempt to answer your question.

      Report Post » BehindBlueEyes  
    • USAMEDIC3008
      Posted on February 23, 2012 at 9:09am

      The real Disaster is in Washington DC

      Report Post » USAMEDIC3008  
    • Ruler4You
      Posted on February 23, 2012 at 9:43am

      Being an idiot is tough work, especially for a “brilliant mind” and especially when the entire nation is looking at you.

      Report Post » Ruler4You  
    • AmazingGrace8
      Posted on February 23, 2012 at 10:09am

      @tomferrari

      Right on point! Agree..good post! You personalized it, how it will effect all of us! and makes it very clear…no hoops & loops & political talk. Too bad the republican candidates can’t speak in plain english what a,b,c etc. effects ALL AMERICANS.

      Report Post »  
    • teamarcheson
      Posted on February 23, 2012 at 11:10am

      Why Did White House Photo Office Insert That Turban Wearing Guy’s Picture?

      The electronic alteration of that picture is easy to detect. Is that Turban wearer the Obama’s new religious Czar? The Democrat-Commie would never release a photo where Obama (there is only one god) would not be in the middle.

      Report Post »  
    • GeorgieJo
      Posted on February 23, 2012 at 11:35am

      Anybody know who is the dude wearing the PINK turban??? and WHY he is there? Bidens hairdresser????

      OMG 2012

      Report Post »  
    • AvengerK
      Posted on February 23, 2012 at 11:39am

      My first question is when has Geithner ever been right about anything? He’s a laughing stock.
      As usual Obama’s faux budget is a non-starter a shell game. He lowers the tax rate while hiking taxes somewhere else that bring the real rate companies will be paying even higher than before the “tax cut”. Typical Obama. This proposal isn’t to mend the economy, it’s for Obama to crow about during the campaign. He doesn’t give a damn about jobs. And lo and behold…the unteachable Obama is still trying to create a market for “Green” energy where there isn’t one by using tax dollars to subsidize these failing companies. He’s loving the high gas prices right now.

      Report Post »  
    • turkey13
      Posted on February 23, 2012 at 12:14pm

      I remember that when obama was selecting his zars that 7 owed taxes and had to decline except Timmy who was the only man in the USA who could save us, so his not paying his taxes was alright. Then we had Charley Rangle almost 1/2 million – Buffets hedge fund who owes a billion – The Rev. al owes almost 1.2 million. Then last year GE using Timmys loopholes scre_ed us out of over a billion.We could cut the defecit by 1/2 if we fired all the IRS and hired new people that could actually do their jobs. We need a simple law that says all loopholes are void and null.

      Report Post »  
    • encinom
      Posted on February 23, 2012 at 12:42pm

      W. lowered taxes, it didn’t work. Nor did Obama raise taxes, try posting facts and you won’t look like the nut case birthers.

      Lets return to the Reagan tax rate or the Clinton tax rates, the higher taxes did not stop the growth of those years.

       
    • Hollywood
      Posted on February 23, 2012 at 1:01pm

      Is it just my imagination,or is Turbo Timmy’s nose getting even longer??

      Report Post » Hollywood  
    • ChildOfTheKing
      Posted on February 23, 2012 at 1:15pm

      calijohn:
      If we go back to Reagan year taxes, then Obama won‘t have enough money to party in the WH and Michelle won’t be able to travel to foreign countries with her friends. OOPS, they will anyways. The American people have given the White House a BLANK CHECK to do whatever they want. And, who is to blame? Not Obama. Not Michelle. Not Congress. THE AMERICAN PEOPLE ARE TO BLAME. THE CONSERVATIVE AMERICAN PEOPLE ARE TO BLAME. Americans who CLAIM “what is the use of voting” is to blame. AMERICA AS WE KNEW IT FROM THE REAGAN YEARS – IS OVER – GONE – FOREVER. Now all Americans need to do is PREPARE FOR THE WORST AND HOPE FOR THE BEST. AND, PRAY, PRAY, PRAY that God will forgive us and heal our land.
      But, I really am afraid IT IS TOO LATE.

      I knew this day was coming for years. I have NEVER missed one election voting, whether it was local or national – NOT ONCE since 1969. Why? Because I KNEW that this country counts on people like me and you to sustain it. THOSE OF YOU WHO THINK IT DOESN’T MATTER ANYMORE, WILL BE HELD ACCOUNTABLE TO A HIGHER POWER. God gave you this country and you are losing it for HIM. Every single candidate running for office is PATHETIC. They will tell you what you want to hear, backtracking and claiming they made mistakes they will make no more. Phooey! The game hasn’t change, just the strategy to win. The game is the ability to CONTROL THE AMERICAN PEOPLE just like Hitler did.

      Report Post » ChildOfTheKing  
    • seeker9
      Posted on February 23, 2012 at 3:25pm

      @ENCINOM
      BHO raised tobacco taxes. Plus many taxes in Obamacare.
      Why does he claim to be a tax cutter if high taxes work?
      W years for the most part were not bad, unemployment 5%. What do you mean it didn’t work? The economy was good until the PROGRESSIVE plan to get more people in houses they could not afford fell apart.

      Report Post » seeker9  
    • old white guy
      Posted on February 23, 2012 at 4:37pm

      no matter what obama says the exact opposite will be done. if he says tax reductions there will be tax increases.

      Report Post »  
    • AvengerK
      Posted on February 23, 2012 at 4:38pm

      ENCIDIOT…you really are an idiot. “W”. lowered cap gains taxes. Obama wants to raise dividends taxes in this current laughfest he calls a tax reform. So…Bush lowered cap gains taxes and you believe they didn’t work? This is why you’re an idiot.
      Bush lowered the cap gains tax rate to 15% and government revenue went up over 100% from cap gains taxes. “That doesnt’ make sense” I hear you say in the depths of your liberal ignorance. Well actually it does. The lower cap gains tax rate promoted more vigorous investment activity. More people invested more actively. This had the effect of generating more cap gains taxes and raised the revenue from them. This isn’t difficult stuff, but for liberal dolts like you who recite Media Matters rote like the good robots you are…I can understand your befuddlement right now. When Obama planned to raise cap gains taxes during the 2008 campaign he said it’s “not fair”. This is because Obama is utterly clueless as to how investments and macro economics work but because he’s marinated in leftist thought, the tax that “rich guys” use should always be high…just as you believe right now. You‘re both idiots and this country didn’t deserve an idiot like Obama inflicted on it in such a time of hardship. We’ll fix that mistake in November.

      Report Post »  
    • AvengerK
      Posted on February 23, 2012 at 5:03pm

      SEEKER9….only recently before congress Sebelius’ deputy-after being pressed by the GOP- admitted that Obamacare’s individual mandate is a tax. The compliant media didnt’ report this of course because the American people need to be under-informed or lied to to protect Obama. But this admission is important. It means counter to what Obama has been saying, he has in fact raised taxes on every American. The admission comes of course because Obama‘s legal counsel has to say it’s a tax in order to even attempt to use the commerce clause before the SCOTUS where Obamacare is being heard. Before this, Obama was calling it a fee or a penalty, not a tax. Obamacare’s detractors called it a tax right away because it is just that..a tax. But the reptillian Obama and his cronies denied it until they couldn’t do so any longer. Obamacare is a democrat-made time bomb waiting to go off on this country.

      Report Post »  
    • AvengerK
      Posted on February 23, 2012 at 5:04pm

      no seriously….can anyone tell me when Timmy Geithner has every been right about anything? Or for that matter when has an Obama policy worked as advertised or even worked at all?

      Report Post »  
    • Atlanticgrl
      Posted on February 23, 2012 at 5:56pm

      Well you must like Oby pretty much because little Santorum is just like him. he’s preaching religion, etc but look as his HISTORY, what has he voted for in the past? his polices, etc. He is FAR from conservative. you think he had an epiphany right before he decided to run?

      All you idiots think Santorum, Newt or Romney will “save”us…you need to do some research and stop listening to their lying mouths. They are talking the talk just like Obitler did. Paul is the ONLY one of them that has held steadfast to his CONSERVATIVES policies throughout his career.

      But you people think have their rosy filters when one of the other liars open his mouth. You think any one of those 3 will do actually the things they’re spewing on about? LOOK at their histories. Actions DO speak louder than words. God help us all if one of the 3 stooges gets the nod.

      Report Post »  
    • Grey Eagle
      Posted on February 23, 2012 at 8:56pm

      Everything Obama touches turns to: Well you get the idea.

      Report Post »  
    • carbonyes
      Posted on February 23, 2012 at 9:38pm

      Barack Hussein Obama, everything about this Imposter-in-Chief, Deceiver-in-Chief, Liar-in-Chief, Fraud-in-Chief, Charlatan-in-Chief and Narcissist-in-Chief is without basis or fact. No one can truly say who he is, where he came from, i.e., what city, what state, what country, or what planet for that matter, or whether he is truly human.

      One would assume he is a human being, but then since his medical records are sealed, we not only don’t know where he was born, we don’t know if he was born and therefore a “person”. The sucker could be a “Stepford” person or worse, if that be possible, and it is.

      Barack Hussein Obama is a specious person. Not only does Barack Hussein Obama appear to be good(at least superficially – to his followers and admirers), sound, correct, logical, understanding, etc., without being so; plausible but not genuine; a person, but a nonentity(my addition). One can not even say that Obama is a freak of nature, because there is no proof that Obama is of nature or natural for that matter. We know NOTHING about him from his past.

      However, what we do know is what Obama has done or not done. We do know that nearly everything that he has done has been instrumental in the planned destruction of this country, the American people and the American way of life, and the things that he should have done, pure, unadulterated, schemed acts of omission, have likewise contributed to the destruction of America, her people and our way of life – utterly despicabl

      Report Post »  
    • carbonyes
      Posted on February 23, 2012 at 9:53pm

      Where in the Hell is leadership in this country?

      Answer! We don’t have any!

      Solution? It’s time to take back America.

      How? First the ballot box!

      If we fail there? REVOLUTION!!!

      It has literally gotten to that point. There are more of us than there are of them. If we happen to be less in numbers? One can put 800 to flight; two can dispense with 10,000. Not a figment of my imagination. We are here!

      Report Post »  
    • teamarcheson
      Posted on February 23, 2012 at 10:33pm

      WEDONTNEEDNOSTEENKINBADGES12
      Posted on February 23, 2012 at 5:11am
      “President‘s Proposed Corporate Tax Cut Called a ’Disaster’…‘Total Bust’”

      President? We ain’t got no President. We don‘t got not steenkin’ President for 4 years!

      BARACK HUSSEIN OBAMA
      AKA Barry Obama, AKA Barry Soetoro
      http://i3.ytimg.com/bg/jKZugo0aaREqEyqXIzGDVw/102.jpg

      “It’s A State Secret In America Too” (excerpted to fit):
      http://theobamafile.com/BarackObama.htm

      Original, vault copy birth certificate – NOT RELEASED (lawyers’ fees greater than $2,000,000)
      Certification of Live Birth – Released – Counterfeit
      Certificate of Live Birth – Released – Counterfeit
      Amended Certification of Live Birth – Released – Counterfeit
      …………………………………snip……………………………………
      Soetoro adoption records – NOT RELEASED
      Punahou School application – MISSING
      Punahou School records – NOT RELEASED
      Noelani 3rd Grade records – NOT RELEASED
      Occidental College records – NOT RELEASED
      Financial Aid Records – NOT RELEASED
      ………………………………………snip……………………..
      ………………………………………snip………………………
      =========================================
      Has it ever occurred to any one that the man who was Obama from Indonesia was murdered and the man who is President is an imposter. Could this be a Vladimir Putin KGB operation in retaliation for what

      Report Post »  
    • carbonyes
      Posted on February 23, 2012 at 10:40pm

      AVENGERK, you speak much truth. You have both wisdom and understanding. Keep doing what you are doing. People need to be informed. They need to hear the truth and to act upon the truth. We not only win in the end, but this God that the world mocks has made provision, great provision for us. We are more than conquerors in Christ Jesus. Pray, yes, but also keep your sword ready! Your sword is the spoken Word and is all powerful, and truly abides in us. In Him there is NO FEAR, and we have complete and total victory. There is absolutely no force, real or imagined that can rise up against us that we can not totally defeat. Amazing, unfathomable in the natural, but true – ever so true.

      CHILDOFTHEKING, He whom you serve says, Fear not for I am with thee, be not dismayed; for I am thy God:I will strengthen thee; yea, I will help thee; yea, I will uphold thee with the right hand of my righteousness. Isaiah 41:10. This God that we serve is an awesome God, and one of his angels can destroy an entire nation. There are more of them that are with us than there are with them. Have faith and doubt not. It is not that we would give up our lives if we had to, for we surely would, but we are rapidly approaching the time when we will stand in awe and see the power of God manifested before our very eyes. This I know to be true. The day of judgement is rapidly approaching, and in the mean time God has given us the power to stand.

      Report Post »  
    • carbonyes
      Posted on February 23, 2012 at 10:57pm

      TEAMARCHESON, indeed this man, Barack Hussein Obama, is an imposter, but not of Putin or the KGB. Barack Hussein Obama is an emissary from Hell itself. He has been sent here for judgement upon a nation that has spit in the face of the Living God. Abortion, which is the murder of human lives, defenseless babies. Homosexuality, fornication, and all other perverted lifestyles, and those who openly mock God with their words, their actions and their haughtiness and high mindedness are reaping what they have sewn, and many who have stood on the side lines and have permitted this to continue, including the spineless fools in the halls of Congress and the ignorant electorate who trusted in a false prophet instead of the Living God. We have brought this upon ourselves, but because of God’s mercy and grace, many of us are waking up to the truth and our responsibility relative to what we have done or permitted, and what stands before us, and who is with us when we repent and turn from our sins. Our God is ever faithful and will preserve us and lead us as He deals with this monster named Barack Hussein Obama.

      Report Post »  
  • Idahosauce
    Posted on February 23, 2012 at 12:21am

    he can kiss my @ss, but I wouldn’t risk getting myself dirty.

    Report Post » Idahosauce  
  • conservatype
    Posted on February 23, 2012 at 12:15am

    Another massive commie head fake from the Marxist in chief. We can now declare: Obama is the worst president in American history. Jimmy Carter now slides down to numero dos. Here’s how the world has changed since 1980: Carter lost in a landslide, and the Marxist in chief is 50-50 to stay in office. Suffice to say: Australia looks pretty good about now…….

    Report Post »  
    • RayOne
      Posted on February 23, 2012 at 1:07am

      The new global tax will be introduced by ‘any means possible.’

      Report Post » RayOne  
    • MEANS2RESIST
      Posted on February 23, 2012 at 2:43am

      With a guy like this marxist, who needs enemies? holding us hostage for failed green policy….commie bastards!

      Report Post » MEANS2RESIST  
    • doomytram
      Posted on February 23, 2012 at 6:56am

      They don’t call him the disaster of disasters for nothing. Everything he touches is a Flood, wrapped in a Tornado, sealed up with a Cyclone. Everything he does is a disaster.

      Report Post » doomytram  
    • Questionman
      Posted on February 23, 2012 at 7:24pm

      I think people that end up using racist terms are, for the most part, uneducated and ignorant…aside from the obvious, racists.
      They are usually close-minded.
      They inherited this mindset from their uneducated, unenlightened parents.
      Kind of hypocritical that that Obama’s leadership is demonize, Ok…but should people who voted for Bush twice *really* consider themselves credible judges of effective leadership?
      They do not have the ability to feel empathy or sympathy…essentially sociopaths.

      Even though you appear to be an old man in failing health, it is never too late to open your mind and your heart, and change the way you live and see the world and interact with others.

      What Marxist policies are now in place and what means of production are owned wholly by the government?
      As usual, anyone who calls Obama a Marxist is an uneducated, lying racist. I guess that means you!

      And show some respect to President Barack Hussein Obama…he is the PRESIDENT OF THE U. S. and A.

      Report Post »  
  • 2theADDLED
    Posted on February 23, 2012 at 12:15am

    The damage is done we now have to subsidize businesses that eventually fall into bankruptcy and for those that have hung on are so badly damaged they are not about to risk what they have left unless they get subsidized and even that is not a guarantee of success. Confidence will only come back after Obama is voted out it’s just to high of a risk.

    Report Post »  
  • abbygirl1994
    Posted on February 23, 2012 at 12:12am

    Oh give me a break, everything Obama has done has been a bust!! Worst American President ever.. I find it very hard to even give him the title President. God help us!

    Report Post » abbygirl1994  
    • DSN397
      Posted on February 23, 2012 at 5:50pm

      ABBY me Dear ABBY, you had better damm well pray that the Idiot‘s who gave him the titile of President have had their eye’s opened and are able to see what they’ve done. We need to rally and beg everyone who will listen to vote him out of office, regardless of who run’s against him.
      He a Marxist without doubt, probably a communist plant, and is backed by the unions, teachers, government workers and Hollywood, so we had all start begging for anit Obama voters.

      Report Post »  
  • georgepatton
    Posted on February 23, 2012 at 12:02am

    Obammy and Getihner two of the biggest liars EVER!

    Report Post »  
    • Bill Rowland
      Posted on February 23, 2012 at 6:33am

      You have to include Holder and Napolitano in that statement. You must alo include the fact that they are traitors to their oath of office, to serve and protect the Constitution.

      OMG

      Report Post »  
  • vinnymac46
    Posted on February 22, 2012 at 11:48pm

    When Oblama says he has “full confidence in Geitner” that‘s code for I don’t give a rats ass what he does, he’s not going anywhere !!!

    Report Post » vinnymac46  
    • oldguy49
      Posted on February 22, 2012 at 11:53pm

      what a shame is ……….we not only pay these people……they steal our money and freedom

      Report Post »  
  • sbenard
    Posted on February 22, 2012 at 11:30pm

    Timmy Geithner, the evil Keebler elf!

    Report Post » sbenard  
  • whatthecrazy
    Posted on February 22, 2012 at 11:30pm

    Ok why is there man standing behind him wearing a pink turbin?WHATTHEDAMNCRAZY!!!!!!!!!!!!!!!!!

    Report Post »  
    • barnsy
      Posted on February 23, 2012 at 12:01am

      Look at that grey haired dimwit with the blank stare on the left.

      Report Post » barnsy  
  • seeker9
    Posted on February 22, 2012 at 11:29pm

    Am I overpaying my taxes? Ordinary dividends go on Sch B, then on to 1040 line 9a = regular tax rate. Qualified dividends get a 28% rate. Where does this 15% come from. Long term capital gains rate = 15%. Any accountants here?

    Report Post » seeker9  
  • garygromele
    Posted on February 22, 2012 at 11:22pm

    I know of no one better off now than in 2008.

    A.B.O. baby, A.B.O…. (Anybody But Obama)

    Report Post » garygromele  
  • matinva
    Posted on February 22, 2012 at 11:19pm

    Geithner and O’blahblah. Two nitwits cut from the same worn out piece of cloth; curtains. How appropriate.
    These ba$tards need to go, yesterday! November can’t get here fast enough.

    Report Post » matinva  
  • ContinentalArmy
    Posted on February 22, 2012 at 11:09pm

    More F’N BS. Geithner is just another Obama ass KISSER! Same as the Whole Of the White House Crowd! I am so damned sick of this Communist Crap. Obama is Hitler reincarnated. Time to end this NOW. Start building the Gallows! This is the Punishment for TREASON!!! Just ask Benedict Arnold! An Illegal so called President at that! God help us.

    Report Post »  
  • COFemale
    Posted on February 22, 2012 at 11:01pm

    Yep it sounds good on paper until you read the fine print. Obama is nothing but a huckster.

    Report Post » COFemale  
  • COFemale
    Posted on February 22, 2012 at 11:00pm

    There is one way to solve this problem, but it is a very drastic measure. Think about this what is 100% of zero dollars, yep zero, nada, zippo money. Thus everyone quit their job and companies close their door. The government can’t collect on nothing. Wouldn’t that be a hoot of a protest. We would out perform OWS and they could not protest any longer.

    Wake up, CoFemale, wake up – oh it was just a dream – damn.

    Report Post » COFemale  
  • almont
    Posted on February 22, 2012 at 10:59pm

    Smoke and mirrors.
    If Obama says lower it means higher etc etc etc

    Report Post » almont  
  • Tankertony
    Posted on February 22, 2012 at 10:58pm

    Its real simple folks. This sums up the progressive marxists plans:
    Corrupt the free market with regulations, red tap, cronyism.
    When it fails, blame the free market.
    Replace it with socialism.
    Then we’re all poor.

    Report Post » Tankertony  
  • nighttrainno9
    Posted on February 22, 2012 at 10:54pm

    obama the idiot strikes again. Everything this dork has done
    has stimied the economy. The people in washington apparently
    have no idea how the economy works. obama has proved to be
    a walking disaster for the US economy. The people he has
    surrounded himself with are just as stupid as he is. He is
    either very ignorant or is purposely destroying the USA.

    Report Post »  
  • 13th Imam
    Posted on February 22, 2012 at 10:47pm

    A buffoon being led by the ears by thieves and hucksters.

    Report Post » 13th Imam  
  • kfalcon22000
    Posted on February 22, 2012 at 10:45pm

    Let’s just look at a few things first. With dual taxation, the dividend tax rate would be well over 50%. Now think about who gets these dividends. Its the American people who have 401k s. So now, you will get far less when you retire because of this wonderful legislation.

    Report Post »  
  • TheObamanation
    Posted on February 22, 2012 at 10:43pm

    It’s a little too little … It’s a little too late … and … Obama is a liar

    Report Post » TheObamanation  
  • whatdoithink
    Posted on February 22, 2012 at 10:43pm

    Anything other than a flat tax rate is a sham! Charge all corporations the same 15% on total earnings (domestic + foreign) without giving any deductions. When these companies get tired of paying the U.S. 15% plus whatever additional is leveed by the foreign government on the portion of their business which resides in that country, you will start seeing jobs come back to America.

    Report Post »  
    • RJJinGadsden
      Posted on February 23, 2012 at 4:43am

      Being double taxed the U.S. companies abroad will either sell off those holdings or move entirely out of this country. Simply having one administration or another lower or raise the taxes at their whim will in no way be an incentive to return jobs to this country. Not until our entire tax code is completely revamped. Politicians like 0bama, Reid, Pelosi, and that screeching she-devil Wasserman-Schultz will constantly use the tax codes to bash businesses about the head and shoulders to bend to their desires. Ever since there has been an IRS administrations and powerful politicians of either persuasion has used them as the arm twisters, and leg breakers they are. If anything should be fair, it is the tax codes, and written in such a way that either party in charge cannot use it as a weapon. Followed by a government that MUST live within it’s means.

      Report Post » RJJinGadsden  
  • Bill from NJ
    Posted on February 22, 2012 at 10:31pm

    These clowns are in way over their heads…. Due for a major change in the White House, senate, and congress.

    Report Post » Bill from NJ  
    • TXPilot
      Posted on February 22, 2012 at 10:42pm

      Obama can be summed up in five words: elitist, idiot, traitor, Muslim and evil. It’s up to you as far as the order, but they all apply.

      Report Post » TXPilot  
    • Darmok and Jalad at Tanagra
      Posted on February 22, 2012 at 10:49pm

      TXPilot
      Hopefully Two Words…..Former President

      Report Post » Darmok and Jalad at Tanagra  
    • CatB
      Posted on February 22, 2012 at 10:50pm

      All that “dividend tax” would kill senior citizens … who are making nothing on cd’s etc and are trying to survive ..their other investments are the ones that pay a dividend— they raise that tax from 15 to OVER 40 % and they will have nothing!

      “Mr. Obama is proposing to raise the dividend tax rate to the higher personal income tax rate of 39.6 percent that will kick in next year. Add in the planned phase-out of deductions and exemptions, and the rate hits 41 percent. Then add the 3.8 percent investment tax surcharge in Obamacare, and the new dividend tax rate in 2013 would be 44.8 percent.”

      You know what it is today? Fifteen.

      Report Post »  
    • Darmok and Jalad at Tanagra
      Posted on February 22, 2012 at 10:56pm

      CATB
      Under Obamacare, there won’t be any old people, thus, they won’t need those dividends. Both problems solved, El Douche solves Amerikas problems all at once. He deserves another term, or three or four…..

      Report Post » Darmok and Jalad at Tanagra  
    • db321
      Posted on February 23, 2012 at 2:50am

      Hopefully One Word – Incarcerated!

      Report Post » db321  
  • PJL
    Posted on February 22, 2012 at 10:26pm

    Blind leading the blind. Geithner, can’t even get his taxes right.

    Report Post » PJL  
  • Darmok and Jalad at Tanagra
    Posted on February 22, 2012 at 10:26pm

    After you hit the car in the left lane head on, kill all the passengers, it’s too late to try and vear back to the center. Too late Barry, we already seen the emporer without his clothes, and it ain’t pretty.

    Report Post » Darmok and Jalad at Tanagra  
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