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Obama Wants $50B In Higher Taxes – For Unions

From and unquestioning Reuters:

Obama to propose ‘grand bargain’ on corporate tax rate, infrastructure

By Steve Holland | July 30, 2013 

WASHINGTON (Reuters) – President Barack Obama will propose a "grand bargain for middle-class jobs" on Tuesday that would cut the U.S. corporate tax rate and use billions in revenues generated by a business tax overhaul to fund projects aimed at creating jobs.

So Obama is going to cut the corporate tax rate (which is the highest in the world) but increase the tax on businesses?

His goal, to be outlined in a speech at an Amazon.com Inc facility in Chattanooga, Tennessee, is to break through congressional gridlock by trying to find a formula that satisfies both Republicans and Democrats…

"As part of his efforts to focus Washington on the middle class, today in Tennessee the president will call on Washington to work on a grand bargain focused on middle-class jobs by pairing reform of the business tax code with a significant investment in middle-class jobs," Obama senior adviser Dan Pfeiffer said.

Middle class jobs = union jobs.

Obama wants to cut the corporate tax rate of 35 percent down to 28 percent and give manufacturers a preferred rate of 25 percent.

He also wants a minimum tax on foreign earnings as a tool against corporate tax evasion and increased use of tax havens.

Notice how deep down in the article we find this gem. Obama wants a minimum corporate tax. This has been a Democrat dream for some time now.

The new twist is that in exchange for his support for a corporate tax reduction, he wants money generated by the tax overhaul to be used on a mix of proposals such as funding infrastructure projects like repairing roads and bridges, improving education at community colleges, and promoting manufacturing, senior administration officials said.

And, as usual, Obama wants to take the money from these new taxes and give it to his foot soldiers in the public sector unions and teachers unions. Just in time for the 2014 midterms.

Obama’s proposal would generate a one-time source of revenue, for example, by reforming depreciation or putting a fee on accumulated foreign earnings.

Officials gave no specific figure on how much money would be raised. But Obama in his State of the Union speech in February called for $50 billion for infrastructure spending…

Notice that the word ‘stimulus’ does not appear in this or any of the media reports on Obama’s new proposal. But that’s all it is.

How many stimuluses have we had in the last five years? And what good have they done? That is, apart from priming the Democrat Party’s money laundering machine.

This article was posted by Steve on Tuesday, July 30th, 2013. Comments are currently closed.

7 Responses to “Obama Wants $50B In Higher Taxes – For Unions”

  1. GetBackJack says:

    Remember the days when ‘Conservative’ commentators, pundits and article commenters were giddy about the end of Unions? You and I said BS. This war isn’t over and a lull in the battle against humanity is just in a Hudna. A temporary cease fire in order to re-arm and reload and rest up for the final wave.

  2. yadayada says:

    “But Obama in his State of the Union speech in February called for $50 billion for infrastructure (read campaign) spending…”

    “… a tool against corporate tax evasion and increased use of tax havens.”
    of course, what they mean here is businesses hiring tax attorneys to use the existing tax laws to find ways to save as much money as they can. can’t have that. tax evasion is illegal. if you want to stop it, enforce the law.

  3. untrainable says:

    I’m confused. Obie is going to lower tax rates if he can use the revenue generated to spend on infrastructure. Is he actually acknowledging that lowering tax rates increases revenue to the government? To the tune here of at least an additional $50B? Then why not lower tax rates on EVERYONE?

    Luuuuucy… you got some splainin’ to do.

    • yadayada says:

      untrainable – “Is he actually acknowledging that lowering tax rates increases revenue to the government?”

      at first I thought I saw that slip when I read the first part of the piece. if you look closer though you’ll see he says that he’s going to make that extra $$ by closing the loopholes that eevil corps. use to steal tax revenues from da gubmint, and by instituting a minimum corporate tax.

  4. Kytross says:

    Back in 2008 while campaigning for president Obama was asked if he knew lowering taxes would increase revenue, like it had under Bush, would he do it. Obama said no, he would not lower taxes, even if it increased revenue. So untrainable, he’s known lowering taxes has the potential to increase revenue since 2008.

    I think it was the Saddleback Church interview, but I could be wrong. It was almost 6 years ago after all. No the Saddleback Church interview was where he said abortion is above his pay grade.

    Who elected this moron?

  5. BillK says:

    Kytross, the American People elected this socialist, because after years of brainwashing from the Democrats and their allies in the media believe these lies. They actually believe that businesses are just greedy and must be forced to “spread the money around.”

    You might like to believe they do not realize that when profits go down, businesses will not lose money but will shed employees as a result, but I believe they do.

    Those unemployed will have to get on unemployment, and a population solely dependent upon the Government for food, housing and health care are then sheep and will be forced to do whatever their overlords want.

    Ultimate power, just as the left has always wanted.

  6. GetBackJack says:

    One thing I am sure of – at the moment Empire is certain it has succeeded in cementing the upper hand, the seeds of its destruction are beginning to push through to the surface.

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