For this post I will not refer to the president as Obummer or the Second Carter Administration. It appears that I actually agree with him on something. The devil, however, is in the details, so we'll see where this actually leads.
Obama Calls for Crackdown on Offshore Tax Havens (McClatchy News)
It's high time that U.S. businesses start paying their fair share of taxes for their offshore operations. Bermuda, the Netherlands, and Ireland are where one-third of the foreign profits of U.S. businesses are located. These countries all have extraordinarily low tax rates. Does anybody actually believe that U.S. companies actually have much business going on in Bermuda? It's nothing but a tax evasion scam.
I am a conservative who believes in no taxes, but I am willing to concede low taxes for essential government services (such as national defense, customs, and border enforcement). I also believe that everyone should pay their fair share. For a bit of redundancy, I do not believe in progressive taxation.
It has pissed me off for many years that big business can sell out the U.S. worker and shield its income in offshore tax havens. ENOUGH!!!! If Obama's plan is to get these businesses to pay their fair share for access to the U.S. marketplace, I am all for it.
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