Ron Paul Responds to Obama Administration's 'Global Tax'

[sailingaway]

Congressman and 2012 Republican Presidential candidate Ron Paul has issued a statement strongly condemning Gene Sperling's call for a global minimum tax. Sperling is President Obama's director of the National Economic Council. See comments below:

"Gene Sperling's call for a global minimum tax is yet another example of this administration's hostility toward liberty, as well as its ignorance of economics. A global minimum tax would logically require some sort of global IRS to ensure the tax was paid, and it would give the government even more excuses to invade our financial privacy.

"History shows that any time 'minimum' taxes are created, they do not remain minimum. Greedy politicians will eventually increase both the tax rate and the number of people subject to the tax.

"A global minimum tax will further cripple economic growth, as more money is sucked out of the productive sector to be wasted by politicians and government bureaucrats. The American people are already struggling under the burden of high taxes, high spending, and outrageous debt. They do not need new taxes imposed on business at the international level.

"Instead of trying to impose new global taxes, President Obama and Mr. Sperling should join me in supporting repealing all taxes on the repatriation of foreign capital. This would inject trillions of dollars into the American economy and help create new businesses and new jobs. Tax-free capital repatriation is a major part of my Plan to Restore America.

"I hope my four rivals for the presidency - Mitt Romney, Rick Santorum, Newt Gingrich, and President Obama himself - will join me in denouncing Mr. Sperling's call for a global tax."

http://www.marketwatch.com/story/ron-paul-responds-to-obama-administrations-global-tax-2012-02-15

 

[goldpants]

Making sense as usual

 

[Sematary]

A global tax? WTF?

 

[Sematary]

Perhaps a better plan would be to give them tax incentives to bring their business BACK to the United States.

 

[bsi]

drudged

 

[swissaustrian]

A global tax? WTF?

Keynesian wet dream...
Thank god this won't happen anytime in the foreseeable future.

 

[swissaustrian]

 

[Erazmus]

Ron hitting another one out of the park!

 

[Erazmus]

Keynesian wet dream...
Thank god this won't happen anytime in the foreseeable future.

Hopefully it won't happen, EVER!

 

[swissaustrian]

Hopefully it won't happen, EVER!

Hopefully

 

[abruzz0]

Sperling = another Goldman Sachs bankrolled parasite lackey doing the NWO bidding with a straight face and carrying on with that BS "fair share" line.

 

[Brian4Liberty]

A global tax? WTF?

It seems that this is more about taxing corporations that keep their profits overseas to avoid US taxes. I don't believe this particular proposal is really a "global" tax, it just eliminates some tax shelters.

 

[swissaustrian]

Sperling = another Goldman Sachs bankrolled parasite lackey doing the NWO bidding with a straight face and carrying on with that BS "fair share" line.

His biography and his "academic" publications are quite an eye-opener:
http://en.wikipedia.org/wiki/Gene_Sperling

 

[Babylon]

It seems that this is more about taxing corporations that keep their profits overseas to avoid US taxes. I don't believe this particular proposal is really a "global" tax, it just eliminates some tax shelters.

You are correct.
Basically a capita tax... if you live here, you must pay at least $X.
Maybe a good idea, maybe a bad idea.
But, it has nothing to do with some NWO/UN/International scheme.

When you are a hammer everything is a nail...
When you are a certain type of RP supporter... well, everything is a conspiracy.

I cringed when I read RP's press release...

 

[Babylon]

Ron hitting another one out of the park!

If by "out of the park" you mean looking like a complete moron, I'd agree....

Sperling was not advocating an international system of taxation.

Dolt.

Mark my words... that press release will come back to haunt RP.
It makes him sound like a kook.

 

[swissaustrian]

You are correct.
Basically a capita tax... if you live here, you must pay at least $X.
Maybe a good idea, maybe a bad idea.
But, it has nothing to do with some NWO/UN/International scheme.

When you are a hammer everything is a nail...
When you are a certain type of RP supporter... well, everything is a conspiracy.

I cringed when I read RP's press release...

Here's what Sperling had to say during the press conference on c-span. He didn't seem to talk about corporations, but "people":

“He [presumably the president] supports corporate tax reform that would reduce expenditures and loopholes, lower rates for people investing and creating jobs in the U.S., due so further for manufacturing, and that we need to, as we have the Buffett Rule and the individual tax reform, we need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidized and facilitate people moving their funds to tax havens.” [Emphasis added]

Later the White House retracted:

"He was referring to our proposal in the Blueprint for an American Built to Last that removes tax incentives for companies that ship jobs overseas," a White House official said.
Called the international minimum tax, the White House proposal aims "to eliminate tax incentives to ship jobs offshore by ensuring that all American companies pay a minimum tax on their overseas profits, preventing other countries from attracting American business through unusually low tax rates." Essentially, it's a domestic tax mechanism that would ensure American companies pay taxes on their overseas profits.

http://www.politico.com/politico44/2012/02/no-global-tax-wh-says-114403.html

A much more efficient and business friendly way to keep corporations from offshoring whould be to eliminate domestic taxes by the way. Corporate taxes only affect consumers due to higher prices, they're nothing but stealth VATs...

 

[Brian4Liberty]

Corporations are people.

Seriously though, when it comes to tax shelters, shell corporations are often used by the ultra-rich. So really, it doesn't matter one way or another.

 

[musicmax]

Keynesian wet dream...
Thank god this won't happen anytime in the foreseeable future.

"The foreseeable future" meaning "the next ten minutes."

 

[swissaustrian]

Corporations are people.

Seriously though, when it comes to tax shelters, shell corporations are often used by the ultra-rich. So really, it doesn't matter one way or another.

I'm not an expert on US tax evasion, but I would assume that the richest of the rich can just create domestic tax-exempt foundations. That's what Buffet, Gates, and many others have done... I don't think it's solely done just for charity purposes.

 

[Erazmus]

If by "out of the park" you mean looking like a complete moron, I'd agree....

Sperling was not advocating an international system of taxation.

Dolt.

Mark my words... that press release will come back to haunt RP.
It makes him sound like a kook.

I don't know about you, but words have meaning. Saying a "global minimum tax" has implications and sets the narrative for doing things much further into the future. It's no coincidence that there's a move toward international governing bodies by the international elite. I think Ron understands this. He always seems to be one step (or several) ahead of the curve. You can witness this yourself by looking up the video where Ron "predicts" the future from 2002.

But hey, maybe Ron should just do what he's always been accused of not doing. He should just become a plastic man like Romney, Newt, and Rick so that the press will like him more and they won't "haunt" him. Let's all be scared now of what the media might say.

Dolt.