Obama: “I Don’t Care If It’s Legal”
At least he finally admits it, but no he’s talking about other people breaking a law that doesn’t exist.
Obama on Thursday demanded “economic patriotism” from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers.
“I don’t care if it’s legal,” Obama declared. “It’s wrong.”
Meanwhile much of what Obama is doing, including his plot to swamp the country with welfare illegal aliens is both illegal and wrong.
Also the only patriotism Obama can conceive of is giving him more money to play with. That’s rich coming from a guy whose patriotism ranks somewhere between Benedict Arnold and Gus Hall.
“They’re technically renouncing their U.S. citizenship. They’re declaring they are based someplace else even though most of their operations are here,” Obama said at a technical college in Los Angeles. “You know, some people are calling these companies corporate deserters.”
Deserters, you say?
Maybe if we release 5 high ranking Taliban leaders, we can bring them home.
But let’s get our economic patriotism on and turn to one of the richest men in the country and a big Obama backer.
Warren Buffett, who has criticized businesses for complaining about tax rates, showed last week how adept he is at lowering his company’s payments to the U.S.
“I will do anything that is basically covered by the law to reduce Berkshire’s tax rate,” he said. “For example, on wind energy, we get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.”
It’s safe to say that Buffett won’t be getting a lecture on economic patriotism from his buddy Barry.
You’ll recall that Buffett was a pitchman for Obama’s last bout of fake higher taxes populism. Except he makes sure not to actually pay those taxes.
There are are two recent cases where Warren has done everything possible to AVOID paying taxes that he actually owes. The first case involved a 14-year fight over the dividend-received deduction that was finally settled with the IRS in 2005. The second case is still pending after 10 years in which he owes just over $1 BILLION in back taxes.
Economic patriotism for thee, not for me.