Research

That’s what the Obama Administration told business leaders (a/k/a job creators) who were in Washington last week to express concerns about a White House proposal to increase taxes on profits made from overseas operations. Obama economic adviser Larry Summers told the business executives in a meeting last week that the government is desperate for new revenues and the business community needs to help cut the deficit. Summers pleaded, “I need you to be patriotic.” 

Larry Summers is right on one point; the government is desperate for money.  Obama’s spending is out of control. Just look at the $787 billion stimulus, the GM and Chrysler bailouts, and the nearly trillion dollar health care legislation they’ve proposed.  The government could cut their spending, but why do that when they could continue to hit businesses with more taxes?  U.S. businesses already pay one of the highest corporate tax rates in the world, what’s a few more taxes?

This is eerily similar to Joe Biden’s message ... more