Originally Posted by Requiem
When defense spending is contracted at ~ 22% -- this is going to happen. All other reports are showing that the signs elsewhere are encouraging. Try reading more than just a headline from FOXNEWS.
nope Obama only adding low paying jobs houshold income way down. Hopefully it gets better but Obama has no plans. Its all spend more on healthcare, cut defense but still fight huge wars, gun control, now immigration that will make Obamacare even more expensive.
When will he do the one thing we really need to do. Address how to get more revenue from the corporate money stored overseas. We have to cut drastically the worldwide tax rate but then also make a law that forces them to return at least 50% of the profits made overseas to the American banking system.
But you cant make them pay 35%. They already pay up to 50% and even more in other countries to set up shop. Our oil companies pay through the ass which is why they offshore those profits in other countries. Then you see how they did that and scream holy cow they made 5 billion in africa and didn't pay any tax. But the truth is that paid 5 billion in tax and costs to do it. Now you want them to give another 35%, it doesn't make sense. Drop it, make them bring half of it home or some other reasonable %, and tax it at about 10% max. Govt would make a lot of revenue on something like that. But obama never saw a tax he didn't want to raise. he doesn't care about the economy as much as he does changing govt into his view. Healthcare, immigration,. gun control, all the big liberal ideals of big govt taking care of us.