Quote:
Originally Posted by Calgaryborn
John Gibbson played a clip of Obama quoting Warren's Buffett's statement to Congress. He then pointed out that if you tax all the Billionaires and Millionaires at a 100% last year you would just gain about 400 billion in taxes. That is less than 1/3rd of the projected deficit this year.
What Obama wants is taxes from everyone making over 2 hundred thousand dollars. That would include most small and medium businesses. These are the creators of most new jobs and unlike a select few corporate giants are not holding huge cash reserves.
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I just feel like someone should point out a reason why these corporations are sitting on cash. Its not only the large corporations, small and medium sized businesses are doing this as well.
Rather than let this myth perpetuate for another 40 pages though, its not "Obamacare", or whatever other democrat centered red-herring you come up with. The reality is that the banks are not really lending to business. Its really that simple. This won't explain a company like Apple per se, but that is just business making sure that they can weather a storm on their own in case the financing isn't there. Nothing devious, nothing political.