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Obama To Pursue Non-Cabinet Tax Cheats

From an irony proof Associated Press:

President Barack Obama and Treasury Secretary Timothy Geithner, make statements, Monday, May 4, 2009, in the Grand Foyer of the White House in Washington.

Obama announces plan to close tax loopholes

By Philip Elliott, Associated Press Writer

WASHINGTON – President Barack Obama vowed to "detect and pursue" American tax evaders Monday as he announced a plan to close tax loopholes and clamp down on overseas shelters.

The president said he wants to prevent U.S. companies from deferring tax payments by keeping profits in foreign countries rather than recording them at home. He also called for more transparency in bank accounts held by Americans in tax havens such as the Cayman Islands.

"If financial institutions won’t cooperate with us, we will assume that they are sheltering money in tax havens and act accordingly," Obama said.

The president, who hammered on this issue during his long campaign for the White House, said at a White House event that his plan would generate $210 billion in new taxes over 10 years and "make it easier" for companies to create jobs at home. Over a decade, $210 billion would make a modest dent in a federal deficit expected to swell to $1.2 trillion in 2010.

Under the plan, companies would not be able to write off domestic expenses for generating profits abroad. The goal is to reduce the incentive for U.S. companies to base all or part of their operations in other countries.

The current law, Obama said, "says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York. "

He said the government also is hiring nearly 800 new IRS agents to enforce the U.S. tax code…

Isn’t irony ironic?

President Barack Obama vowed to "detect and pursue" American tax evaders…

Is he going to pursue most of his cabinet, including his Secretary of the Treasury?

This article was posted by Steve on Monday, May 4th, 2009. Comments are currently closed.

32 Responses to “Obama To Pursue Non-Cabinet Tax Cheats”

  1. Rusty Shackleford says:

    I knew this was coming. It’s straight out of the lexicon of power. A legal means to enforce punishment on those who should pay taxes who don’t. They will sift through all the old records and lo and behold, will discover about .0015% of the people who haven’t paid up.

    At the very least, it’ll be “educational”.

  2. Petronius says:

    I have a wad of pre-Bolshevik Russian currency that we found concealed behind the wall while remodeling our house in London. The wad reminds me that among the first steps always taken by Marxist regimes are measures to prevent the flight of capital abroad. After closing “loopholes” such as foreign bank accounts, they next implement programs for heavy taxation of businesses and individuals, confiscation of capital, including precious metals and foreign currencies, and nationalization of industries. These measures are always justified in the media by the usual socialist cant about tightening the screws on wealthy cheats and scoundrels, statements to the effect that the era of government by corrupt plutocrats is now ended and is being replaced with a government of shared responsibility for shared prosperity, blah, blah, humma, humma.

  3. Reality Bytes says:

    “We Will Assume They Are Sheltering Money,” Obama said. Assume?! ASSUME?!

    Mr. Felix Unger, you have the floor:

    http://www.youtube.com/watch?v=xoqUwyHseg4

  4. BatK says:

    Apparently it’s ok to do it if you’re a Democrat, or a part of the Obamanation Administration

  5. Odie44 says:

    I wonder why he isn’t going after individuals so-called off shore accounts – whereas he can assume they are hiding money and taxes…

    Could it be it would wipe out several Senators wealth and his key donors????

    • Petronius says:

      They are going after individuals (but probably not his donors). Read the underlying AP article, especially Geithner’s comment that the Obama proposal would end “indefensible tax breaks and loopholes which allow . . . some well-off citizens to evade the rules that the rest of America lives by.” Also note the part about 800 new IRS agents. Even after 9-11 we could not get 800 new border patrol agents out of a Republican administration. But 800 new IRS enforcers is no problem for The Bama.

    • Odie44 says:

      Petro –

      I read the entire article – it looks like they are using “boogey-man corporations” as the precursor to those individuals – and not the individual tax filer themselves.

      Consistant Obama double speak and rules for “us” and not “them”.

  6. proreason says:

    Soon the commissars will no longer have to pay taxes at all.

    We can’t let little distractions like that interfere with their benevolent dircetion of our lives.

  7. Odie44 says:

    Wouldn’t it be easier to go after so-called 503(b) fraud groups and collect taxes???

    SG has a laundry list of groups and offenses.

    • Liberals Demise says:

      I’d be all in favor of collecting “ALL” monies owed by cheats like Al Sharpton and Charles Rangel and the likes….without cutting so called deals with them. These grabasses’ are the ones who make the laws back fail at following them. There should be a “special” hell for these bastards!!

      I’m also with you Odie44 for hitting all the special interest groups that fudge the laws for a collective “few” but thumb their noses at the laws that are suppose to protect them. Do away with all the screw ups!!

  8. BillK says:

    I’m sure any taxpayers found to be “using loopholes” will be allowed the same deferred, penalty-free payment plans as Obama’s appointees, right?

    • BatK says:

      shoot, if the Secretary of the Treasury can’t “figure out” his tax form, how the heck should anybody else :-p

  9. U NO HOO says:

    Per capita tax is the only sane fair and loophole-free tax.

    Don’t blame me if no one listens to me. You are my cross to bear.

  10. canary says:

    Steve, President Barack Obama vowed to “detect and pursue”

    Aside the irony of Obama pact of tax-cheaters, is his continued tough talk
    towards Americans. It would be nice for a change from hearing “detect and pursue” terrorists instead of his continuous words battle-talk aimed at Americans. He used kinder and emptier words towards North Korea.

    One things for sure, the democrats will put up a fight, and his computer and internet for every child promise won’t happen. Maybe he’s hoping to bankrupt Google so the feds will take charge.
    He did make a snipe towards Bill Gates at that recent MO townhall, using him as example to the children of why they might not get Social Security when it’s their turn, or he as he punned and chuckled, could raise the retirement age, which would hurt the people most that “do real work”, and described the difference of work and real work.
    Guess Obama can’t stand the idea that Bill Gate’s gives more to charity than about anyone’s fathers could dream of in the world. Obama is jealous.

  11. pdsand says:

    Is this the famous “tax break for companies who outsource jobs” that I’ve been hearing about for what seems like all my life?
    I’m boggling my mind right now trying to comprehend the unintended consequences that could occur if companies could not claim a business expense if they got foreign income. Chiefly, I tend to think this would mean a lot of businesses jumping ship on America altogether.

    • proreason says:

      “Under the plan, companies would not be able to write off domestic expenses for generating profits abroad. The goal is to reduce the incentive for U.S. companies to base all or part of their operations in other countries. ”

      That could increase the price of everything at Walmart (and many other companies) by 10% all by itself.

      That’ll teach business a thing or two, for sure. Making those nasty profits by using the low-cost suppliers. NO MORE OF THAT!!

      And I know I won’t mind. I’ll just view it as a partriotic gesture……from my tent.

  12. Reality Bytes says:

    Is it me or is Barack Obama that guy in last year’s Buick commercial. Now look at him! He owns the company. They grow up so fast don’t they?

    See for yourself. Even the message is he same.

    http://www.youtube.com/watch?v=n8q6yKDAom8&feature=PlayList&p=B727D44193AAB641&playnext=1&playnext_from=PL&index=23

  13. take_no_prisoners says:

    You can pay me now, or you can pay me later Bend over, here it comes Don’t worry the code translation is Dimmocrat=Individual, Republican=Financial Institution. ‘Nuff said.

  14. Rusty Shackleford says:

    Remember, this is just after 100 days. There’s plenty more where that came from. The list of things to dismantle is huge and the parallels to Germany in 1933 are growing every more pronounced. However, replace the Jews with “the rich” for the target of blame…which…for any totalitarian in the making is whatever is the most popular target. With so many people who are “have nots” and even if it is by their own choosing, they are happy to blame the rich for their woes. And, a totalitarian regime in the making is more than happy to exploit that mantra.

    However, the artsy-fartsies and virtually half the population are already behind this power grab, and apparently hungry for socialism so this administration’s task is not nearly as daunting as Hitler’s.

    There do seem to be a great number of people who think socialism is the answer. Apparently, they were either absent the days that the history of WWII was taught, or the days when Stalin’s Russia was taught…or is it that they were just in a pot-induced fog? Or, perhaps…there’s that old notion that “today….here and now…we can PROVE that it can work” regardless of the monumental failure it has been everywhere it’s been tried.

    The human rights violations, the crime, the absolute drive into poverty for every citizen. People didn’t listen but I did when I heard the professor explain that all of Russia has more natural resources than the US could ever have.

    http://www.russianamericanchamber.org/newsletter/Natural_Storehouse.html

    http://www.russiansabroad.com/russian_history_200.html

    Imagine if they had embraced capitalism—oh the competition we would’ve had, not on the military side of things, but the production of planes, cars, TV’s, computers, etc. Instead they stagnated and festered in the Utopian misconception of “equality through force”. Reading books by Russian authors, to include their most prestigious military members is an exercise in the unbelievable.

    How the human spirit was crushed there and how it caused artists and writers and movie makers to leave.

    As did Germany in the 1930’s, if they could.

    Yet these modern day idealists think that this government actually cares about them. Perhaps that’s the hardest thing of all to swallow. That they, not for one minute, have taken the time to understand human nature and how power corrupts and how soon-to-be absolute power will corrupt, absolutely.

    It makes me sick to ponder the condition this nation is in and will be in when the Obama National Socialists finally come out of hiding and playing with innuendo and come to the front of the balcony with their armbands and spanking new uniforms. No, they will not imitate the Nazis, but instead will have a whole new look. Or, maybe no look at all, which like Chairman Mao’s “non-uniform” uniform, or the unpretentious look of a plain suit without adornment.

    Whatever the look, “the party” is growing and gaining momentum. If the economy should follow its natural course and start a slow but steady recovery, the ignorant masses will flock to kiss the feet of the the new supreme leader. For lack of anything, the ignorant masses always want, above all else, a miracle.

    Hitler gave Germany a miracle by “taking action” and punishing those who kept Germans from their rightful place.

    Is the concept that Obama is using much different? If you study the rhetoric used by Adolf Hitler during his campaigning and after “he won”, you will find a great many similarities, though the “articulate negro” has updated and polished them for the 21st century.

    He says what the dependent-thinker wants to hear. Thus, he brings up a FEELING of salvation. It’s the reason many people go to church…and no, I’m not knocking on the religious. They go for that feeling of comfort that no matter how awful a sinner, there is teh chance of salvation. But the problem is, nothing Obama ever says has to do with the individual calling upon themselves to look at themselves and see what they can do for themselves so the government doesn’t have to.

    No, it’s all, “I will give you” and “See those people over there? It’s THEIR fault you’re poor or out of work or lost your house”. And nothing rallies a group of people together, large or small, than the common ground of who to blame. Case in point? The great explosion of US Flags that appeared after 9/11.

    For lack of a better way to put it, it’s a “pitchforks and torches” mentality.

    Whenever I hear, read a liberal say, “But he’s doing SOMEthing”….I know that they have shut down their brain and prefer to let the thinking be done by others as all-the-while they still claim to be a critical thinker. Critical thinking, as I was taught, begins with self.

    Thus, when we can criticize ourselves and recognize our own failures and mistakes, are we able to more accurately and fairly assess the behavior of others. But, there is no outcry from anyone when the leaders in our government are found delinquent on their taxes, or that they cannot seem to stick to the same story from day to day or even hour to hour. Why? Because they, themselves lack the ability to look themselves in the mirror and blame themselves for their situation. If misery loves company, hell, failure loves a barn-dance.

    So, as a nation, just like Germany in the 30’s, our comfortable lifestyle that has afforded us the ability to enjoy life, has now also fostered the unsatisfied of those who cannot succeed except at the expense of others. They cannot reason that they are their own first investment and instead look to tear those down who make them feel small, insecure and less important. Again, they fail to realize that those feelings are the result of their own failures and as any psychologist will tell you, blaming others is the first method of rationalization.

    But a whole nation is now rationalizing that CEO’s with huge salaries are the reason they stick needles in their arms, or that they steal or that they can’t get a job because they have a rap sheet that takes up three pages. It’s easier than WORK. WORK means first, getting up off your ass, looking yourself in the mirror and saying “I must not fail”. But today the acceptable standard is, “there are no winners, no losers…everybody gets to play” and that once quaint daycare philosophy has come to bite us squarely in the ass.

    “It’s THEIR fault” is now the new phrase that America owns. Not, “We built this” or “We protected that” or “My country, right or wrong”. For indeed, almost half of our fellow citizens are actually ashamed to be Americans. This is the direct result of a permissive society that has existed since at least the 60’s. And it didn’t help that the entertainment industry made its money exploiting that concept.

    Over time, gone were the concepts of personal responsibility, rights of the individual, or even good manners. (Just watch how people act at WAL-MART).

    So, is it any wonder these spoiled have-nots who want everything but don’t want to work for it are now clamoring at the doors of Washington to get the goose that lays the golden eggs?

    As Hitler and Goebbels knew….you can’t possibly give them everything they want…but if you can get them to fall in love with an IDEA…then you have them.

    And has them, he does.

    • BatK says:

      trust me… they’ll find a way to blame the Jews… they always do… history is certainly a teacher of that… Egypt, Assyria, Babylon, Persia, Greece, Rome, Europe… Leo Franks was not that long ago

    • Rusty Shackleford says:

      BatK, that may be but at this moment, it’s not a convenient target. The idea he has is to broadly target those who “everybody” can agree “must be at fault”…..with the false logic of “just look how much money they have…and then they WASTE it”. Unfortunately, some things that were ill-advised on the part of CEO’s et al kind of played into the plan. Or, once they did those things, the liberals exploited it to spin it into a kind of social injustice, in a Bob Dylanesque sort of way.

      Sure, maybe the Jews will become the brunt of it once again but I also think that the idiot in charge is just smart enough to not go there or he will risk showing how bigoted he really is. He has to walk that fine line of entertainer/soothsayer and keep the people hanging on his words, just like episodes of whatever crap passes for TV these days. “always leave them wanting more”.

      My point was, and is that the parallels to Germany in the 30’s is remarkable. He’s saying all the right things, doing the “right” things by “taking action” against those nasty, dastardly companies that would fail after stealing billions from the people. It’s a false argument and anyone with any lick of sense knows it. But, unfortunately, by naively taking the people’s money in bailouts, the companies have become fools for the king. I guess what surprises me is that the liberals think that we are too sophisticated and evolved to believe any such thing could happen in modern day USA. “He’s just doing what must be done” And when you bring up socialism they retort “Oh…you have no clue, do you? It’s not SOCIALISM…you silly little prat, it’s simply the government taking control for the benefit of the people….my god you’re dense”.

      And the mind boggles. I’ve heard 5 people say that to me in as many days. Now, I wasn’t a stellar student when it came to Development of Western Civilization, but I DID follow the parts on socialism and communism, as well as things like “totalitarianism”, “dictatorship” and so on.

      But somehow because the black stick is an elected official, the libtards think somehow that our system is intact and operating just fine. Thence comes the ultimate fallacy that “the government is supposed to take care of the people” the ancient (and wrong) line from that side of the house that has rung so hollow for years.

      Ann Coulter is still right. You can’t talk to a liberal. Even whipping out a copy of the Constitution itself and asking them to point to where it says you get free health care…or a house…or anything.

      Then they start with the “living document” crapola and how it has to be changed to meet the times.

      And suddenly, in my brain, I feel a few more cells die from frustration or absolute disbelief.

      As I’ve often said, the conversation then usually ends with them telling me I’m a racist or just mean. But for me, I take great satisfaction that the founding fathers put forth a document that was authored while calm, sober and respectful of the English language; The language of their birth and of the nation from which they wanted to be released.

      Indeed the Declaration Of Independence had no words that said, “You haters, you need to jump off a building. You need to do the honorable thing.” Quite the opposite. It was polite but direct.

      Nope they just laid it out, said it plainly and clearly. I’m sure when it was read to King George he was annoyed as to its straightforwardness.

      And you can say, that the modern day would-be oppressors of this nation, the liberals, are just as agitated by a conservative’s preponderance of fact and reality.

    • BatK says:

      RS, I agree that it’s not “pc” to be “Anti-Semitic” but it is a well established world phenomenon to hate on Israel, which HELLO, is a country made up of Jewish people…. basically it gives Jew haters an excuse to hate Jews without getting the label. And considering our secretary of state was at a rally in Egypt earlier this year to raise hundreds of millions of dollars that they know full well will sponsor terrorism against Israelis (read: Jews) and there have been numerous AP articles talking about possible “tension” between DC and Israel (which is the usual AP method of demonizing Israel and trying to pressure them to cooperate through lying to the masses), it’s a logical step… it IS very scarily similar to Nazi Germany…

    • Liberals Make Great Speedbumps says:

      “basically it gives Jew haters an excuse to hate Jews without getting the label.”

      Very astute BatK, I never looked at it from that angle before.

  15. proreason says:

    “But a whole nation is now rationalizing that CEO’s with huge salaries are the reason they stick needles in their arms”

    Well said.

    What’s the first thing out of Obamy’s mouth whenever he’s asked about a problem? “It’s not my fault”

    Everything that is wrong is someone else’s fault, so let’s just get the losers together and take what we want, with the power of the federal government behind us. Then everything will be just fine.

  16. wirenut says:

    Words mean things, we can’t let the left redefine the English language. Loophole, Fairness Doctrine, Gun control, Disenfranchised, Gay? You name it. If you have common sense, were wrong. I say a simple”war”of words is in order here. Every time a Libtard O-pines, give’m a dose of the truth. Where I come from, this is nothing more than theft by swindle.
    Of the above it is, tax advantage, no opposition, no guns, voting blocks with no citizenship and trashing a great word. In that order .

  17. canary says:

    Caymen Islands is run by Great Britian, and if he does this to our banks there, then how will they help people and their homes. Though owned by Great Britian, the population on the Caymen islands is 80% Africans heritage making a nice living. More business than people. And Great Britian has made the banks there transparent already. How will they feel about the U.S. treading on their
    terroritory. land, and they’ve already made their banks transparent. There’s another Island Great Britian owns and it’s wealthy whites. And if he hurts google, intel, and Hewett Packard with offshore accounts how will he keep his promise a computer and internet for every child in America?

    Also, after that little bit about of news that Obama might be reconsidering not bringing the gitmo prisoners. You get a second of good feeling. But, remember everytime Obama says something, expect him to being the opposite.
    Well, apparently, he is going to ignore the Senate and do it anyways.

    This is not a democratic POTUS. He does the represent the people. Only himself. He does not undertand majority, and whats good for the general.
    This John Edwards attack, though he’s a creep, is still a grudge thing. Obama hates America. He said at that town hall meeting last week, how good it felt to get there and be out of Washintong DC where they have no common sense. One of his many lame jokes. When the massage therapist asked him if her type work would be included in ‘his” Obama’s health care, he paused, then pretended his back was aching, and needed help, she said I’d be glad to help you flirtiously, and he everyone giggled. The he explained what what he might consider, like he’s a doctor? She acted like she assumes that we are going to have federal hosptials and doctors only.

    Just like he said he wasn’t looking at gun control, then trying to give China and Pelosi
    sneaked in federal gun control legislation.

    Don’t forget Maxine Waters drilling the Banks, repeatedly asking if they had money off shore. She’s a dog, why dont’ she just sniff and find it.

    • Odie44 says:

      canary –

      Another key issue is tourism – namely in the Cayman’s – where the wife and I honeymooned and had a chance to chat with both the locals and a few business owners.

      Many people specifically vacation there because they have business or accounts there – a new multi billion dollar “corporate complex” is being built (about 2 miles from the airport), 3 new resorts and the active growth market is getting investments to the Cayman’s – which they spend about $100M alone in ad, marketing, conferences, etc. The temp workers are mainly Canadian and European, being it is a British West Indies Isle – as you mentioned – with a higher cost rate for just about everything. They are also proud of almost non existent crime and are a religious nation. Most imports to their nation come from Miami or Tampa – I believe nearly 85%, even the “local” TV coverage is Miami-based. Fox News in paradise was something… but I digress.

      i.e. – the Cayman’s have flourished due to capitalism and free market principles. They are just one of many island nations who would be hit extremely hard in both the short term and long term because of investment opportunities lost, job loss and tourism lost – literally overnight.

      They may be a British entity – but are driven by America, through and through.

  18. oldswimcoach says:

    George Soros is gonna’ be pissed!

    • I don’t carry any cash with me, so I immediately called my bank and asked them to send my money into the government. I look forward to going to work and getting that money back.


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