What Happened to President Obama?
As I listened to the speech that President Obama delivered in Cleveland on Wednesday, a sudden shiver went down my spine. I had the eerie feeling that the President didn’t seem himself. In fact, I was startled to discern that aliens had abducted the President and replaced him with a look-alike. My suspicions were aroused when I heard this cloned look-alike announce that small businesses needed tax relief since the private sector creates most of the jobs. It was stunning. The original President Obama never said such things.
And then I started searching the skies for more UFOs when this Presidential look-alike proclaimed that it was time to shrink the federal government. It froze my blood. After racking up trillions in debt through out of control spending on stimulus and social programs, he said it was time to reduce the size of government?
But I really started trembling when the President clone said he is willing to extend George W. Bush-era tax cuts for most Americans. A program he fought against tooth and nail? And now he’s for it? I looked for the giant pod that he sprang from.
But it came to me. Like any good sci-fi film, there’s a surprise twist ending that explains everything. The speech took place in Cleveland, Ohio. Why there? Oh…that’s the home state of his nemesis, House Minority Leader John Boehner, R-Ohio. Ah ha! And isn’t that where Democrats are trailing in all the polls over the economy in Ohio? It’s all becoming clear. This wasn’t a clone after all. It was the real President Obama saying anything that will get him and his fellow Democrats re-elected. And that’s a horror story I’ll save for Halloween.
THURSDAY, SEPTEMBER 9, 2010
DO WE REALLY REWARD US CORPORATIONS TO SHIP JOBS OFF SHORE? WELL, YES AND NO
Remember the rhetoric from Obama and Hillary during the campaign ,repeated wednesday during Obama’s speech in Cleveland to great roars of enthusiasm? We have heard it many times.Basically the theme goes ; we are going to close the tax loopholes and tax breaks for big American companies that ship American jobs to other countries. This will bring those jobs back to Cleveland or any other city he is speaking in.It will put American workers to work and keep those jobs here in America where they belong. Often these “rewards ” to American companies to ship jobs offshore are associated with ‘ the failed policies of the past “which of course means he wants the voter to believe that the right is behind this evil plot to give rewards to any company that hires people offshore.Kind of gets you upset to learn about this terrible plot.Right?
Do you really know what Obama is talking about? He is in fact talking about the US corporate income tax code.No doubt, knowing this, many may assume that this “loophole” was part of the Bush tax breaks for the rich.Actually many do not understand that the personal tax codes and corporate tax codes are two different sets of tax law with different rates,rules and deductions. The corporate tax loophole or incentive Obama is referring to is the part of the law that exempts from US income tax the profits that American companies make from offshore activities but only if those profits are kept outside of the United States.Now this is the important part to understand. This tax code has been in existence for FIFTY years.It is not a new goody for big business put in place by Bush. It has been in place and unchanged by the administrations of the past 50 years.
Lets put this in easy to understand terms. One day I was in a souk in Morocco where you could buy anything from daggers to donkeys and was amazed to see a few boxes of Tide detergent. One can find American products in the most unlikely places. Tide is made by P&G who’s home office is in Cincinnati.Lets assume that a box of tide ,made in cincinnati can be sold at a profit of one dollar.If that profit is made here in the US ,P&G will pay corporate income tax of 0.35.After tax profit is 0.65 per box.P&G then learns that there is a large market in europe for tide and starts to export a lot of tide to its distribution center in Ireland and finds that the volume is so high that it makes sense to build a plant in Ireland .So P&G now has a plant in Ireland selling lots of tide and for this example we assume that the per box profit is still one dollar per box. {more on this later].This profit is now subject to corporate income tax in Ireland but Ireland has a corporate income tax rate of 12.5%.So P%G now has an after tax profit of 87.5 cents per box versus the 0.65 cents profit if that tide was made in the US. P&G can not bring that profit back into the US, say to build a new tide plant here unless it pays the US a 35% tax on that profit.So to get that money to work in our country P&G now ends up with about 0.57 left from the original one dollar profit.
If P&G keeps the profit off shore it does not pay the US tax and this is the loophole or tax break Obama is referring to. To close that loophole he has to get a law passed that would tax those boxes of tide made in Ireland and that will never happen because it would cripple US multi national companies , make them uncompetitive and ,now get this, cost high paying jobs here in the US.Yes the tide plant in Ireland would no doubt hire locals for most of the work.But all the marketing ,research,accounting,sales management ,and other functions would be in Cincinnati. Also no doubt there would be people from the US sent to Ireland to be managers of production etc. Many may think that these would be counted as exported jobs but just not true because these high paid US citizens working at the tide plant in Ireland are still subject to US income tax.Yes US citizens working abroad,except military, must pay US income tax.
Getting back to the profit on a box of tide made in Ireland would probably be more than the dollar per box in the example. There are little labor issues in Ireland,there is less government regulation,no unions and a better educated labor force. All of these factors would lead to lower costs.
Now think about this.What should a US company do with the profits that it has earned and kept offshore to avoid US taxes? Well if they are sitting on a pile of cash and the need arises for a new research facility or production facility do you think they will spend that money here in our country? Of course not. This is an example how our corporate income tax policy helps keep jobs offshore.It is not tax loopholes that send jobs offshore, it is the US corporate tax code with the second highest tax rate in the world,that pushes those jobs away.It seems like the other industrialized nations have figured out that it is in there best economic interests to have much lower corporate tax rates. Many have no tax on corporate profits earned off shore.
AS long ago as 1961 JFK asked congress to change the code to reduce the punishing tax rates on multinational and allow them to bring their profits home and it just did not happen.In 2004 our government did an experiment .The IRS offered multinationals a deal. They had a window of opportunity to bring their profits home for a one time deal of 5.25% instead of 35% tax rate .It was a good deal for everyone. The taxes paid on those repatriated profits generated 354 billion in tax revenues.
Why do we bight the hand that feeds us?That is what our corporate tax code does.The multinationals are not the enemy and our tax code makes them fight their competitors,from other countries,with one hand tied behind their back which further reduces their ability to create corporate support jobs here.
A much more reasonable approach that will help American companies and American workers is to quit attacking these companies ,reduce their tax rates to allow them to compete in the global economy,reduce their taxes on profits earned from goods exported from the US,and allow them to bring their offshore profits home to work here at a lower rate,this way the American worker wins,the multi national wins,and the IRS wins.
The next time you hear that we give tax rewards to companies that ship jobs off shore do not believe it.When you hear that we will close those loopholes its a lie.If the IRS goes after this “loophole”and tries to tax offshore profits that are kept offshore it will devastate our multinationals and I doubt that it is legally even enforceable. Our tax laws force our companies to ship jobs away and inhibit job growth here in our country.It is just not right , fair or good for the American economy.
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BY LINDA BENTLEY | SEPTEMBER 15, 2010
Obama, the jig is up
LTC Terry Lakin is standing up for the Constitution, his oath of service and every American who believes they both still matter
WASHINGTON – Now that every member of Congress has received a certified letter from Lucas Daniel Smith, accompanied by what he claims is a certified copy of Obama’s Kenyan birth certificate procured from Coast Province General Hospital in Mombasa, Kenya in February 2009, as well as an offer to testify under oath, the silence from Congress on the subject is deafening.
It’s really irrelevant where Obama was born, he’s still not a “natural born” citizen and is constitutionally ineligible to hold the office of President of the United States, if, in fact, Obama’s father was who Obama claims.
If Obama’s father was Barack Hussein Obama, a foreign national who was only attending college on a student visa and was never a resident of the United States, Obama II, at birth, would be a dual citizen at best, and constitutionally ineligible to hold office.
Obama’s long-form birth certificate would clear that issue up in a nanosecond. It would most likely also prove his ineligibility.
However, Obama still needs to explain how he obtained a Connecticut Social Security Number (SSN) while he was attending high school in Honolulu.
That’s going to be more difficult to clear up because that same number Obama’s been using, 042-68-4425, has been associated with another individual born in 1890 who was issued the very same SSN in Connecticut circa 1976.
That same SSN is also imbedded in what we have proven to be Obama’s fraudulent Selective Service System registration, created after the fact in 2008, not in 1980, as those sloppily attempting to cover up for Obama’s past profess.
Obama didn’t register for the Selective Service in 1980, which proves another problem for the usurper in the White House. Failure to register should have forever precluded Obama from holding any position in the executive branch of the federal government.
So, when will someone – anyone – in Congress stand up and tell Obama the jig is up?
Meanwhile, with their silence, every member of Congress is allowing Lt. Col. Terry Lakin to face court martial and throw away more than 18 years of exemplary military service in his effort to protect the Constitution, which he, like every member of Congress, took an oath to uphold. Obeying illegal orders is an offense subject to prosecution just like refusing to follow legitimate orders.
Army Col. Denise R. Lind, the Army judge presiding over Lakin’s court martial, recently denied Lakin access to any of Obama’s records or testimony from those with access to those records that would prove whether or not Obama is legitimately holding office and if his orders are legal or illegal.
Lind stated the evidence could prove to be an “embarrassment” to Obama and has essentially deprived Lakin of his defense.
It’s unclear how the Army plans to proceed with Lakin’s court martial by simply asserting orders handed down through the chain of command, beginning with Obama as commander in chief, are legitimate, when all the evidence tips heavily toward Obama illegitimately holding office.
Perhaps Congress should steal a page out of the Honduran playbook on how to remove an unconstitutional president from office. While the removal was met with cheers from the citizens of Honduras, Obama called the removal of Honduran President Manuel Zelaya “illegal” and said he wanted to be very clear that Zelaya was the democratically elected president.
Visit the American Patriot Foundation’s website at http://www.safeguardourconstitution.com to learn more about Lakin’s case and to contribute to his defense.