Obama will not be content until he has ferreted out every last nickel of evil corporate profit. Is the guy that malevolent or simply that naive, that he doesn't realize if he and his enablers ever manage to kill the goose that is laying the golden eggs, he will also kill off the revenues that he needs to fund his bloated federal bureaucracy?
~~John Cronin~~
NY Post
By: Jim Powell
JUST as the economy begins show ing glimmers of a turnaround, here comes President Obama with a "tax-reform" effort that's sure to sock the stock prices and after-tax profits of many of the biggest US employers.
Obama's $190 billion business-tax hike will hit Americans whose jobs and pensions depend on these companies doing well, and will increase pressure on already struggling colleges and hospitals. Why? Because millions of individual investors hold the companies' stocks in their portfolios, mutual funds and pension funds, as do many colleges, hospitals, museums and other institutions in their endowments.
Among the important employers in Obama's crosshairs: Aetna, Alcoa, Allstate, American Express, Berkshire Hathaway, Best Buy, Cisco Systems, Coca-Cola, Costco Wholesale, Dell, Dow Chemical, DuPont, Exxon Mobil, Ford, General Motors, GMAC, Hewlett-Packard, Honeywell, IBM, Intel, Johnson & Johnson, Kraft Foods, Kroger, McDonald's, Merck, Microsoft, Motorola, News Corp., PepsiCo, Pfizer, Procter & Gamble, Safeway, Sears, Sprint Nextel, Supervalu, Sysco, Target, Time Warner, Walgreens and Walt Disney.
Obama is outraged that these employers use offshore tax havens to reduce their tax burdens.
(Excerpt) Read more at nypost.com ...
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