February 14, 2012
Gene “the Machine” Sperling has called for a “global minimum tax” on corporations. Obama’s director of the National Economic Council linked the call to the so-called Buffett Rule, a scheme based on statements made by investor Warren Buffett who said government should confiscate more money from the rich in order to reduce the tax burden on the poor.
Following Sperling’s comments yesterday and heated response in the blogosphere, officialdom responded by saying “there’s no United Nations-imposed duty in the works,” as Politico phrased it.
Sperling said the government “is looking for shared sacrifice” in its quest for more revenue. “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.
The Cato Institute did some fact checking after Obama’s SOTU teleprompter reading. Cato points out that the government encourages sending American jobs to slave labor hellholes like China and Vietnam and imposes a 40 percent tax rate on corporations that invest in the United States.
Obama’s “Blueprint for an American Built to Last” is cynical class warfare rhetoric for the ill-informed who will vote him back into office in November. The so-called 1% never pay taxes. They put their money into tax-exempt securities and move it offshore.
“In other words, the genuinely rich are likely to be the least harmed by high tax rates in the top brackets,” writes Thomas Sowell. “People who are looking for jobs are likely to be the most harmed, because they cannot equally easily transfer themselves overseas to take the jobs that are being created there by American investments that are fleeing from high tax rates at home.”
Likewise, small business – the real engine of job creation in America – is unable to transfer themselves overseas and escape the tax collectors.
Officialdom insists Obama’s blueprint wasn’t cooked up at the United Nations. Instead, it was conceived by the globalists at the Council on Foreign Relations, where Mr. Sperling is on staff as Senior Fellow for Economic Policy.
The CFR, Federal Reserve, Geithner’s Treasury where Sperling works, the IMF, World Bank, the Trilateral Commission, and the United Nations all work for the international bankers who are installing world government and a centralized global banking structure, so any dismissals by the White House are irrelevant.