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  1. #1
    Senior Member AirborneSapper7's Avatar
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    Rush Limbaugh: Obama Wants to Close the Borders to Keep Corporations In & Paying Taxe

    Rush Limbaugh

    Did you happen to see where Obama has finally come out and announced he wants to close the border? You think I'm making it up, right? It's so unbelievable. I'm not making it up.



    Obama Wants to Close the Borders to Keep Corporations In & Paying Taxes
    RUSH: There's a big, exciting news story out there.
    rushlimbaugh.com

    Obama Wants to Close the Borders -- to Keep US Corporations Inside Paying Taxes

    July 28, 2014


    Windows Media

    BEGIN TRANSCRIPT
    RUSH: Did you happen to see -- there's a big, exciting news story out there. Did you happen to see where Obama has finally come out and announced he wants to close the border? You didn't see that? You think I'm making it up, right? It's so unbelievable. I'm not making it up. Well, let me find it. Our border, he wants to close our border. But not to people coming in. He wants to close the border to American corporations going out, on this tax business.



    Walgreens is one example, but American corporations are partnering with overseas corporations and in the process changing the location of corporate headquarters outside the US so as to avoid the highest corporate income tax rate in the world, 35% here in the United States. And when news of this hit, I mean, it's been going on for awhile, when news of it hit Obama had a patriotic impulse and said it's outrageous that these businesses should be doing this. They need to come back and need to be paying taxes here. And he defined patriotism as American corporations staying here and paying the 35% tax rate. And American corporations haven't listened.
    It's happening in greater and greater numbers. In fact, the names of the companies are often changing as part of these mergers. The actual structure and actual ownership isn't, it's a paper thing. I mean, Walgreens didn't sell out. They partnered with and then for tax purposes the name is of the corporation changed to whatever the foreign corporation that partnered with Walgreens is. I don't mean to hype on Walgreens. It's just one of the most recent examples.
    So Obama is really ticked off about this. He wants to close the border the other way. That is, he wants to close the border to any US corporation that might want to relocate overseas to avoid paying US corporate taxes, the highest in the world. The news here is that Obama does believe in borders when it comes to taxes. Folks, it's like, why did they build the Berlin Wall? Keep people in. What is it that totalitarian type statists do?
    BREAK TRANSCRIPT

    RUSH: I just got an e-mail note. "Rush, you ought to make the connection of Obama not letting corporations out of the country to the Berlin Wall." I did make that point (sigh), but I'll do it again. The point that Continetti makes is that when the Berlin Wall came down, Obama was all happy, but he never talked about why it was there. In his mind, why it was there never mattered.
    It just materialized out of thin air. Well, what was the Berlin Wall for? It was to keep people in! Totalitarians build walls and enforce their borders like nobody's business, but to keep people in. So I opened the program today saying, "Have you heard that Obama has changed his mind on border enforcement? He's gonna close the border." People said, "No, I haven't heard that."
    That's because he is closing the borders to American businesses leaving, and I made the point that this is what statists do. They care about the border to keep people in who want out. What American businesses are doing is they're partnering with foreign corporations. The foreign corporation assumes ownership on paper, enabling the US corporation to escape the 35% corporate tax rate.
    It's happening more and more, and Obama's ticked off about it, and he's demanding they stop and stay here, and so he obviously has come out against people leaving. He now wants to enforce the border.
    END TRANSCRIPT

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  2. #2
    Senior Member AirborneSapper7's Avatar
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    Don’t Fall For This ‘Patriotic’ Smokescreen

    July 31, 2014 by Chip Wood

    THINKSTOCK

    Wouldn’t you know it? Barack Obama and his cohorts have found yet another way to blame those greedy, bloodsucking profit-seekers (otherwise known as American businesses) for tarnishing the American dream.
    What’s the latest sin of those dastardly companies? It’s having the unmitigated gall to move their headquarters out of this country in order to save on taxes. How dare they! Aren’t they supposed to put their country’s need for more money ahead of their shareholders’ desire for more profits?
    “My attitude is, I don’t care if it’s legal, it’s wrong,” the President thundered during a recent speech. He called on Congress to fast-track legislation to make such relocations (known as “inversions”) illegal. In the meantime, he and other Democratic officials said companies should demonstrate their “economic patriotism” by resisting the lure of moving abroad.
    So now the “patriotic” thing for a company to do is to pay more in taxes than it needs to, so our bloated Big Brother government can increase in size and power. That sure makes sense, doesn’t it?
    Before you jump on this leftist bandwagon and accuse some American companies of putting profits before patriotism, please consider the following:

    • First, the U.S. tax rate on corporate profits is the highest in the developed world. American companies must pay a combined corporate income-tax rate of 39.1 percent. At 35 percent, Federal taxes represent the lion’s share of that amount.
    • But here’s an even bigger kicker: Our government insists on collecting those taxes on every dollar of profits a company makes anywhere in the world, if they are foolish enough to bring their gains back to the United States. How much money have U.S. companies left overseas, just to avoid to paying those usurious U.S. taxes? Estimates are that the grand total is somewhere in the neighborhood of $2 trillion. Ladies and gentlemen, that is a very expensive neighborhood.

    Here’s an idea: How about granting a tax holiday to any company that will bring some of that money home? Reduce the tax grab to, say, 10 percent. And then make it the patriotic thing to repatriate a bunch of those funds.
    Hey, 10 percent of a few hundred billion dollars is a lot better than 35 percent of nothing! And think how many jobs a trillion or two dollars could create here at home. Oh, and think how many additional taxes those new wage earners would pay. Not to mention all of the additional tax dollars Uncle Sam would collect from those corporations over the years.
    Now there’s a tax reform that makes sense, doesn’t it? Too bad the Democrats won’t consider it for a second.
    The U.S. tax rate on corporate profits is more than three times higher than the rate in Ireland, which is a rock-bottom 12.5 percent. The United Kingdom has made plans to reduce its corporate tax rate again, lowering it from an already-competitive 28 percent to an extremely attractive 20 percent. No wonder many companies are eager to add those savings to their bottom line.
    Even Jack Lew, the secretary of the Treasury, has acknowledged that the smartest thing this country could do is to change the law. In a letter to Dave Camp (R-Mich.), the chairman of the House Ways and Means Committee, Lew admitted that the “best way to address this situation is through business tax reform that lowers the corporate tax rate, broadens the tax base, closes loopholes, and simplifies the tax system.”
    If lowering the corporate tax rate is the “best way” to deal with the situation, what are the chances that that is what we will do? Sadly, with a demagoguing Obama in the White House and with Harry Reid (D-Nev.) controlling what happens in the Senate, I’m afraid the answer is pretty close to zero.
    No, the Democrats would rather try to win some votes this November — and protect some of their vulnerable Senate by bashing those greedy American businessmen — than cooperate with Republicans in passing tax reform.
    With both the House and the Senate getting ready to shut down so the lawmakers can enjoy a five-week summer recess and with Obama planning to head off to Martha’s Vineyard for three weeks of rest, relaxation and golf, don’t expect anything positive to get done in Washington anytime soon.
    Well, actually, I got that wrong. Getting all those politicians out of town for a while is probably the best thing we could hope to happen. At least while they’re gone, they won’t be making matters worse.
    Until next time, keep some powder dry.
    –Chip Wood
    Note from the Editor: Hyperinflation is becoming more visible every day—just notice the next time you shop for groceries. All signs say America’s economic recovery is expected to take a nose dive and before it gets any worse you should read The Uncensored Survivalist. This book contains sensible advice on how to avoid total financial devastation and how to survive on your own if necessary. Click here for your free copy.


    http://personalliberty.com/dont-fall...c-smokescreen/
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