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The White House
January 08, 2011
Last month, our economy added more than 100,000 private sector jobs and the unemployment rate fell sharply. This follows encouraging economic news from increased auto sales to continued expansion of our manufacturing sector. Now, we know that these numbers can bounce around from month to month. But the trend is clear. We saw 12 straight months of private sector job growth – the first time that’s been true since 2006. The economy added 1.3 million jobs last year. And each quarter was stronger than the last, which means the pace of hiring is picking up. Now we’re seeing more optimistic economic forecasts for the year ahead, in part due to the package of tax cuts I signed last month. I fought for that package because, while we are recovering, we plainly still have a lot of work to do. The recession rocked the foundations of our economy, and left a lot of destruction and doubt in its wake.
[What I'm not telling you: All these labor and unemployment numbers are just that: NUMBERS!! Those in the Handler Group and we in the obama regime can and do 'massage the numbers' to tell the tale we need them to tell! The more confusing the numbers--the more confused, the masses; hence, the easier it will be to lead the sheeple down "The Primrose Path!!" Early on, in 'the obama Recession,' we had the masses cowering in fear of what was to come next--would it be hard-times or would it be complete collapse of the American economy?!?! Now, we're using statistically similar numbers to illustrate how the Handler Group and the obama Regime has 'saved the day;' using heretofore outdated, unworkable, Keynesian Economic Principles!!
Let me put all these statistics in terms even the most devout 'KoolAid drinkers' can understand:
Let's say that you--as an individual--worked hard all your life and accumulated $100 that you carried with you--believing that it was safe to do so. On a dark night you were mugged, and the $100 was stolen. After the police report was completed, a victim's fund gave you $25 as partial replacement of your stolen funds. You then filed for funds from a federal program to partially replace mugging vicitims' losses--through which you received $40. After time, you were then awarded $15 from a state program, giving you a total replacement of $80. To summerize: you initially lost $100; were incrimentally awarded a total of $80. These programs did not 'make you whole;' they actually 'massaged your mental anguish' to make you feel as though all these federal and state programs were your benevelent benefactor--while in truth--it was these same governments that actually mugged you in the first place!! See how easy that was?!?! On one side of the government, state and federal mis-management of the economy and market forces mugs the public; from offices on the other side of the state and federal governments, officials slowly and incrementially, dole out relief in the form of partial restitution while never 'making you (the pulic) whole,' again!! See how that's done? To boil it down even further: My left hand takes your money, your earning power, your investments from you. Then--after a period of time--my right hand starts to give your value back in small increments, all the while, cajoling you into believing that "I'm fighting so hard, day-in-and-day-out," for you benefit, when it was actually I who caused you the loss in the first place!! Now do you understand?!?!]
So, our fundamental mission must be to accelerate hiring and growth, while we do the things we know are necessary to insure America’s leadership in an increasingly competitive world and build an economy that will provide opportunity to any American willing to work for it. I’m absolutely confident we will get there. I am confident, first and foremost, because of you; because of the ingenuity of our entrepreneurs and business owners; the tenacity of our workers; and the determination of the American people. This is what has made our economy the envy of the world. But we have to do everything we can to help our businesses and workers win in this new economy. Yesterday, I visited the Thompson Creek Window Company, a small business in Maryland. Over the past year, sales there have grown by 55% thanks, in part, to an energy tax credit we created. And this year, they’re also planning to take advantage of a new tax incentive for businesses. For one year, any business, large or small, can write off the full cost of most of their capital investments. This will make it more affordable for businesses like Thompson Creek to expand and hire.
[What I'm not telling you: The United States has the second-highest corporate income tax on the planet; second only to Japan (39.6% versus 44.79%). You can see how that's worked out for them, right?!?! The Japanese economy has been in decline since the early 1990s.
The United States' combined federal-state statutory corporate tax rate (39.3%) is now well above the weighted average for both the member nations of the OECD2 (Organization for Economic Cooperation and Development) (31.9%) and the larger G-7 countries (33.8%). Moreover, both groups of countries continue to lower their tax rates. The weighted average corporate tax rate has fallen by 38 percent for OECD nations and 37 percent for the G-7 from the early 1980s, while the United States' rate remains stagnant--never moving from it's lofty perch!! The 'obama blather' you've been witnessing since the drubbing of last November are pages straight from "The George SOROS Official Bait-and-Switch Economic Policy Manual" which may work well 'in his lil' world,' but I'm not so sure it's the way to drive a national economy, although it seems to be convincing the "KoolAid drinkers!!"
It takes several days to search for small businesses meeting the regime's criteria for a "Clown Prince" visit!! The workers in the backroom must search using the primary requisites of: 'double-digit gains' in profits and or productivity; union employees; 'KoolAid drinkers;' controlled-invitation only-audience. These criteria make it exceedingly difficult for the 'backroomers' to find companies that are willing to have me blather at their employees--believe it or not: there have been refusals!! These criteria--much like general economic statistics--can be manipulated to illustrate anything the author wants.
So, we select those companies that will plausibly illustrate that our treatment of the national economy has positively benefitted them and those in their economic sector. This illustration--by application--shows the federal corporate tax rate (hee, hee, hee!!!) has no affect on company profitability or productivity. Recently, during and after the tax-rate negotiations--I was essentially forced to subtly admit that tax-rate reductions actually have a positive affect on economic growth. You talk about a 'tough pill to swallow;' that was one such pill!!
Again by association--if a continuation of current tax rates (as opposed to raising the rates on 'the rich') is beneficial to the economy, then it just stands to reason that a severe reduction in the corporate tax rates would have an equally beneficial affect on the economy. If the regime ('guided' by SOROS) were to consider--not the worldwide, but--the hemispheric economy, there would need be only a 11-17% reduction in the corporate rate to be in line with our neighbors: Canada, Mexico and the Central American countries!! To consider the value of the corporate tax rate on the business development and business profitability one need look no farther than IRELAND!! With a federal corporate tax rate of just 12.5%, the country is burgeoning with businesses AND with business profitability. Oh--you say--what about their current economic woes?? These woes are primarily the product of economic mis-management by the European Union!! One can only imagine the economic affects of a rate reduction of say, 15%, to 24.6%; 20%, to 19.6%; 25% to 14.6%; or (Allah forbid!) 39.6%, to 00.0%!!
Those American companies who clammered to relocate their manufacturing facilities outside the United States under NAFTA (North American Factories Traded Away), would be lining up to return!!! The federal government would be forced to institute a temporary corporate tax rate just to control the influx of companies trying to return onshore!! While some would not agree--I'm not nearly as stupid as I appear!! I can not understand why George SOROS will not allow this rate reduction to happen!! I certainly be a boon to his investments, both here and around the world. Imagine all the liberally fascist 'think tanks' to sway American opinions and American voters further and further to the left--into the fascist mindset!!]
So, if you’re a business owner, I’d encourage you to take advantage of this temporary provision. It will save you money today and help you grow your business tomorrow. This incentive is part of the economic package I signed into law last month – a package that also includes a payroll tax cut that will mean $1,000 more this year for a typical family. In fact, 155 million workers will see larger paychecks this month as a result of this tax cut. Twelve million families will benefit from a $1,000 child tax credit and an expanded Earned Income Tax Credit. Eight million students and families will continue to benefit from a $2,500 tuition tax credit to make college more affordable. And millions of entrepreneurs in big cities and small towns across the country will benefit not only from the business expensing plan I mentioned, but from additional tax cuts that will spur research and development. Independent experts have concluded that, taken together, this package of tax cuts will significantly accelerate the pace of our economic recovery, spurring additional jobs and growth.
[What I'm not telling you: The litany of federal tax credits is just another method of obfuscating the true consequences of the federal tax code. We use them to "guide" the business owner, CEO, even the individual taxpayer, toward activities and policies we desire/approve. See, if we were to forget all these credits--be they, individual or corporate--the American taxpayer could economically wander around willy-nilly!! - With this 'energy tax credit,' the federal government is "guiding" the business community toward those areas we 'prop-up' with sibsidies. Without federal subsidies, these "green energy" sectors are nowhere near self-sustainability, hence the more 'customers' we "guide" toward these sources of energy, the more demand for that product.
- With both the 'child tax credit' and the 'Earned Income Tax Credit,' we're "guiding" those recipients toward a mindset of government dependence; toward a fascist mindset, hence more leftist voters!! Some of the aforementioned tax credits actually allow the taxpayer a larger refund than the total of the monies they paid to the treasury!! How cool is that?!?!
- The 'business expensing plan' I mentioned in this edition of the 'Saturday Blather' works much the same as the various tax credits, in that we can assign a greater value to those businesses and sectors we deem worthy and a lesser value to those businesses we consider to be the 'rust-belt' variety.
And that is our mission. That should be the focus, day in and day out, of our work in Washington in the coming months, as we wrestle with a challenging budget and long-term deficits. And I’m determined to work with everyone, Republicans and Democrats, to achieve that goal. What we can’t do is refight the battles of the past two years that distract us from the hard work of moving our economy forward. What we can’t do is engage in the kinds of symbolic battles that so often consume Washington while the rest of America waits for us to solve problems. The tax cuts and other progress we made in December were a much-needed departure from that pattern. Let’s build on that admirable example and do our part, here in Washington, so the doers, builders, and innovators in America can do their best in 2011 and beyond.
[What I'm not telling you: George SOROS is hoping that the republicRATs and those 'right-leaning' obamacRATs soon forget the mandate that either put them in office or are continuing them in office, by this vast 'Tea Party' movement!! No one in either the Handler Group or the obama Regime itself, can believe the drubbing fascism took in November!! SOROS and his fascist organizations certainly "didn't see this one coming!!" This 'Tea Party' mandate dictates that those elected and those re-elected, demand SMALLER GOVERNMENT; LESS SPENDING!! I suspect that those coming to power may hold this mandate true to heart; demanding that the regime does reduce the size and scope of government as well as the gargantuan levels of spending. If they do so, there goes the 'quasi-bipartisan' negotaitions in which we just beat down the opposition with inane blather, until they acquiesce!!
The 'nuts-and-bolts' of all this is the Regime being returned to power in 2012. This wll be the greatest dictating force going forward. SOROS and I will do and say anything-and-everything necessary to stay in power until we can alter-negate the United States Constitution to the point I become 'Ruler-for-Life' with SOROS as my official handler!!]
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