Obama today talked about increasing corp tax. Do you agree? Obama said money not taxed is gov spending?
The quote below is from Obama speech today. Do you agree that all the money in the world is the governments money and what we get to keep is government spending? If you do then maybe you are a socialist or a fascist like Obama? What do you think? In America all the money is ours and what is taken away is taxes. THE PRESIDENT: Well, I continue to believe I’m right. (Laughter.) So we’re going to try again. I think what’s different is everybody says now that they're really serious about the deficit. Well, if you’re really serious about the deficit -- not just spending, but you’re serious about the deficit overall -- then part of what you have to look at is unjustifiable spending through the tax code, through tax breaks that do not make us more competitive, do not create jobs here in the United States of America. Harry Balz - I agree and I think everyone agrees Taxes collected by the Gov is Gov revenue. What Obama is saying above is Taxes NOT collected (meaning the money we keep after paying our taxes) is Government spending. This means Obama thinks all the money is the Gov's and what we are allowed to keep by the Regime is spending. Using this definition its impossible to have budget deficits because all money is government spending, therefore when Obama talks about cutting our debt its meaningless to him. This explains why he could careless about the huge debt we are incurring. Obama is a bigger risk to American than terrorist if you ask me. Willimetta - that's all fine and dandy, but you are missing the point. I am making a philosophical point regarding his views on government, spending, tax and debt.
Politics - 11 Answers
Random Answers, Critics, Comments, Opinions :
1 :
no, 0bama is a failure and will decimate the US at the rate he's going
2 :
Obama's budget is a joke so now he will be spiteful after being laughed out of the oval to defend his rotten plans.
3 :
tax dollars are actually revenue for the federal government FYI
4 :
If you read what he's saying, it says he wants to end Tax Breaks, not raise the corporate income tax. On the contrary, he wants to lower corporate income tax and eliminate some tax breaks or more specifically tax deductions and credits. One thing on the table is the mortgage deductions. Currently, companies can deduct their mortgage payments to all their properties. The federal government is thinking about limiting it to one.
5 :
I can't imagine a better way to kill more jobs and totally stifle any economic recovery. By 2012, the USA will be a third world toilet like Mexico or a country in Africa. We will be living in the stone ages, just like Obama wants it.
6 :
Increasing corporate taxes is good because it forces companies to hire less people. This will cause higher unemployment and produce more Democrats.
7 :
Obama has no common sense or logic and is destroying the country. I hope we make it to 2012 and vote him out then hopefully be able to undo the damage he has caused.
8 :
obama is a failure and needs to be out of this great office very soon before he completely destroys this great country,,,,,,,,
9 :
Obama is truly an economic imbecile, either that or he just thinks we all are. . When your income is cut, is that money you spent? or money you will not get to spend? He obviously believes that the government is entitled to it's tax revenues. Raise taxes on corporations? Name ANY company who PAYS taxes ANY? ........Every last one incorporates ALL taxes into the price of goods or services produced. PERIOD! Corporations DO NOT PAY TAXES!!!!!.........Customers do!!!!!
10 :
OK, here's how this works. The government increases the taxes I must pay on my business. I raise the cost of my goods and services to cover that. I pass it on to you, the consumer. At some point, you will decide that I'm charging too much and will opt not to frequent my establishment. I will then be forced to let people go or go out of business at which point I let everyone go. Because there are very few who are hiring in this economic down turn, those who are let go will be forced to default on all loans (cars, credit cards, mortgages, etc.). Most lenders are federally insured meaning that when we default, the government picks up the tab -- which means the few who ARE still working will then be taxed even more. If he were truly credible about his seriousness over the deficit and national debt, he would NOT have borrowed $787 BILLION from the Chinese. Treat it like a 30 year mortgage without interest. Do the math and see how much OUR annual payment will be on HIS loan. Nor would he have ram rodded his "Health Care Reform" down our throats. He keeps writing checks that our bodies can't cover. Let me ask you this, When was the last time in the history of this great nation that any increase in taxation actually went towards paying for the programs and deficits already in place? If you decrease people's taxes, the majority will SPEND that money which will then increase the demand side of the Supply and Demand Equation. I cannot afford to hire people to sit around and do nothing while we wait for people to start spending what they do not have. The two things that will kill a business faster than anything is having too many people on staff and not enough work or having too few to meet the demand. Currently, I have what is needed on the pay role... Let the people keep what they've earned. They'll spend it.
11 :
It's not the small corporations or the LLCs who have whole floors of legal people and accountants who do nothing but look for "creative" ways of scamming the US tax laws. Raising the tax rates and closing up the loopholes will force the "big boys" to finally pay what they truly owe to the country that makes their humongous profits possible..... and it shouldn't impact those businesses that pay honestly because they're already paying what they owe without any games playing. http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes.html
