Monday, July 13, 2009

Obama Inadvertently Supported a 20% Tax Rate

Obama may have inadvertently come out in support of a less then 20% tax rate or against business investment in the United States. I can hope it was not inadvertent (regarding the tax rate), but I am not holding my breath.

http://pajamasmedia.com/instapundit/81713 (bold mine)

"PRACTICE WHAT YOU PREACH:


No country is going to create wealth if its leaders exploit the economy to enrich themselves — (applause) — or if police — if police can be bought off by drug traffickers. (Applause.) No business wants to invest in a place where the government skims 20 percent off the top — (applause) — or the head of the Port Authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. (Applause.) That is not democracy, that is tyranny, even if occasionally you sprinkle an election in there.


American businessmen, meanwhile, are exclaiming, only twenty percent?


Related item here."

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