Another Bad Idea From Obama

February/07/2010 18:49PM
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In his quest to destroy private sector jobs in America, Obama has proposed another idea that will cut more jobs in businesses. He seems to have a grand plan to make the government the only employer other than trial lawyers and lobbyists. Government jobs are union jobs and the dues get raked off the top and Obama and the other Democrats get their share. It keeps Obama’s best friend Andy Stern happy(SEIU Union President).

In his 2011 budget he has a little clause, “reform U.S. International Tax System”. This little idea will rake in $122.2 billion from multi-national U.S. corporations in the next decade. The U.S. already has one of the highest corporate taxes in the world. This will not create jobs, it will reduce jobs. See studies by leading economists from Harvard and University of Michigan show multinationals add support jobs in the U.S. when they expand overseas. When McDonald’s and Walmart they add jobs here when they grow overseas. These are intelligent advisers, not community organizers. Much of the job expansion here is manufacturing related. As U.S. companies add business overseas they produce more goods here, Procter and Gamble, e.g.

This doesn’t even consider that some U.S. multi-nationals may just say, screw it, we’ve had enough of America’s war on business, and we’re moving. All the tax bases leaves except for profits created here in the US and all the jobs go too.

Mr. Obama is putting the two biggest job producers in the penalty box. Foreign corporations with U.S. subsidiaries and U.S. multi-nationals. Good move, Mr. President. Makes as much sense as closing Gitmo.

America needs to do just the opposite, give incentives for both of these groups to do more business, invest more capital, and hire more employees here.

Cleaning up Obama’s mess for his successor in 2012 will be like following the horse patrol in the Shriner’s Parade. There will be no place to step.

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