Professor Obama Class…..Destruction of a Capitalist Economy 101

22 Feb

I have to admit I almost fell for it this morning when the media touted Obama’s new Corporate Tax Policy lowering the rate to 28% and to close those “so-called” loopholes for the rich. OK, great! I’m on board, it took 3 years for me to agree with Obama on something but it’s a start, maybe he’s triangulating to win the election, like Clinton did. BUT AFTER FURTHER REVIEW, as they say in sports, FOUL! It did not take much research to find out this is just another sleight of hand, a shell game, by the master of lies, Barack Hussein Obama. Here is the real story; the Wall Street Journal had a great summation today as well. Funny how the spin by Obama is once again, REFORM!

Here it is in a nutshell: Obama claims to lower the Corp tax Rate to 28% when in fact he will TRIPLE THE TAX RATE ON CORPORATE DIVIDENDS and it will cost the private sector billions. Here is the rundown:

Obama’s plan will raise the Corporate Dividend rate to 39.6%it is now 15%

            (The new personal tax cap for next year, great news huh?)

  • Add on the phase out of various deductions and “loopholes”, now it’s 41%
  • Next add the 3.8% tax increases buried in his Obama Care plan and it nears 45%

Corporate Dividend Taxes are charged to profits after the Corporate Tax rate, so a Corporations tax hit could be 64.1% – wow that’s great for the economy huh?

 So where is the savings to our economy? Where is the pro-growth policies Obama and his posse of Socialists promised?


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