U.S.-based nonfinancial companies are parking record amounts of cash abroad, thanks largely to a tax code that encourages them to indefinitely keep profits from their foreign subsidiaries outside of the country.
U.S.-based nonfinancial companies are parking record amounts of cash abroad, thanks largely to a tax code that encourages them to indefinitely keep profits from their foreign subsidiaries outside of the country.
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For Obama and his media minions, the stakes around sequester are mammoth. With the economy already tanking, the hope is to blame sequester for the president's failed left-wing economic policies. If the White House and its media can convince enough Americans that cutting the federal budget by a measly 2% is to blame for our economic problems, that will be a crowning propaganda victory for the left.
Better still, Obama and his media want to blame the GOP for these draconian, world-ending cuts. That push is all about Democrats taking over the House in 2014 and Obama owning the government for the last two years of his failed presidency. *shudder*
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President Barack Obama told ABC News on Tuesday that he believed Republicans would join Democrats to extend current rates for 98 percent of earners by the end of the year.
"I'm pretty confident that Republicans would not hold middle-class taxes hostage in trying to protect tax cuts for high-income individuals," Obama told Barbara Walters in an interview.
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