Monday, July 20, 2009

President Obama Was Absolutely Correct!

Obama's speech in Ghana recently was spot on. Too bad, Obama does not follow his own advice. He chided the African nation for corruption and excessive taxes. "No business wants to invest in a place where the government skims 20 percent off the top," he told the Parliament of Ghana.

I wonder if his listeners realize that this pronouncement came from the leader of a country where the federal government skims off 39.4% in corporate taxes, the second highest of any industrialized country. Or that he has many plans for new taxes and regulations to further squeeze the business community? Maybe he should pay more attention to the words his teleprompter gives him.

Does he not comprehend that corporate taxes become part of the overhead and every single customer ends up paying the tax, not the so-called evil corporation? Does he not notice how many companies have already moved their headquarters from the US and how many more are planning to in the near future?

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