Obama Considers Tax Hikes Via Executive Action

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The Dictator in Chief acts Again….
President Obama has indicated an interest in using executive action to raise taxes, once again proposing to circumvent Congress to advance his own agenda. White House Press Secretary Josh Earnest said Monday that the president was “very interested” in doing so, purportedly to benefit the middle-class. (What?  He’s never benefited the middle class, he’s destroying it…more lies from the Dictator in Chief!)
Talk of unilateral executive action for raising taxes ensued after Senator Bernie Sanders (I-Vt.) asked Obama to raise over $100 billion in taxes through IRS executive action by eliminating corporate tax breaks. (Let me be plain here…where the hell is the Congres?)
“If Congress fails to address these problems, the administration should act on its own to close, at a minimum,” the six tax breaks, declared Sanders, who is the ranking member of the Senate Budget Committee. (Do any of these people who have sworn to uphold the Constitution know what it says?  I highly doubt it.)
Sanders had sent a letter to Treasury Secretary Jack Lew on Friday detailing the specific executive actions he believes that the IRS can take without having to wait for congressional approval. His letter declares that the administration can successfully raise more than $100 billion over the next decade simply by closing loopholes that are currently utilized by corporations. He wrote:
America needs tax reform that raises revenue in a progressive way to fund investments like infrastructure improvements that will create jobs and boost economic growth. One way to accomplish this is by closing tax loopholes that allow large, profitable corporations and some of the wealthiest people in our country to avoid paying their fair share. (Read “progressive” means Communist, and just who gave the IRS the ability to raise taxes?)
The Wall Street Journal notes that three of the tax breaks to which Sanders refers — check-the-box loophole, Hewlett-Packard loophole, and the real estate investment trust loophole — were created by administrative actions or regulations, rendering them vulnerable to being closed by executive action. Sanders proposes closing the other three loopholes — corporate inversions, carried interest loophole, and valuation discounts — through regulatory powers assigned to the Treasury Department. (And who assigned these powers to the Treasury Dept?)
Sanders’ letter states that closing the check-the-box loophole — which allows multinational companies to characterize their offshore subsidiaries in multiple ways so as to ultimately avoid taxation from any government — could raise $78 million over the next decade.
The Hewlett-Packard loophole enables major companies such as Hewlett-Packard to have offshore accounts that are circulated to the United States by a series of short-term “loans” from subsidiaries in tax havens such as the Cayman Islands. (Can you blame them with the tax rates in America on corporate entitites?)
Sanders indicates that the Obama administration should take action against the real estate investment trust loophole to stop businesses from structuring themselves like real-estate investment trusts so that they do not have to pay certain taxes. (Is Valerie Jarrett giving him these ideas?)
He recommends administrative action to target corporate inversions, or “earnings stripping,” a practice in which an American company acquires a foreign company, relocates overseas, and deducts interest payments on debts borrowed by a foreign subsidiary. He claims that addressing these inversions would bring in $13 billion over a decade.
Eliminating the carried interest loophole, which permits wealthy hedge fund managers to label their compensation as capital gains subjecting it to lower personal income tax rates, would raise $17 billion over a decade, writes Sanders.
Finally, he claims that removing valuation discounts — restrictions on business property for family members that reduce the value of the property for tax purposes in order to keep the business in the family — would raise $18 billion.
Sanders is careful to write that his list is by no means “intended to be exhaustive,” but serves instead to “illustrate that if Congress fails to act, the Administration can act to resolve some of the problems with our tax code.” (This is so unconstitutional…the Dictator runs everything and the Congress sits idly by doing nothing.)
Sanders’ letter defends the executive action by blaming his GOP colleagues: “The Republicans in Congress have made it clear that they will not address these problems.”  (Maybe they won’t address them because they want to keep a few jobs in our own country for all the illegals they’re allowing to enter)
According to the Wall Street Journal, several of the tax proposals have already been proposed in Obama’s budgets. WSJ writes, “The administration would curb one such break that allows multinationals to avoid taxation of profits by using offshore subsidiaries and another to curb ‘equity stripping’.”  (Does anyone understand that we have the highest taxation on corporations in the world?  Can you blame them for trying to save and make more money?)
Sanders contends that Obama should resort to administrative action to end the practice.
According to a White House spokeswoman, the president will be responding directly to Sanders. But Press Secretary Earnest states that the president has not ruled out using executive action to raise taxes.  (HIS EXECUTIVE ACTIONS ARE ILLEGAL…HE IS BEING A DICTATOR…WHERE IS THE CONGRESS?)
“The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans,” Earnest said, adding,
Now I don’t want to leave you with the impression that there is some imminent announcement. There is not, at least that I know of. But the president has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goals. So I am not in a position to talk in any detail at this point, but the president is very interested in this avenue generally.
There is very clear evidence that the president is indeed iterested in the executive action “avenue,” as he has already resorted to executive orders for immigration, minimum wage, federal pay discrimination, and EPA regulations on carbon emissions. He has even used administrative action to delay parts of the Affordable Care Act. To date, he has issued over 200 executive orders, according to the Federal Register. (Yeah, he has and every one of them is unconstitutional, and all of them could have been stopped by the Congress, but they said NOTHING)
The president’s continuing determination to circumvent Congress reveals his willful disregard for what the American people want, since Congress is comprised of individuals elected by citizens to represent them. More importantly, it blazons his utter disdain for the Constitution, which assigns all legislative powers to Congress alone.
Michael Steel, spokesman for House Speaker John Boehner, had this to say last June, after Obama threatened to use executive action to achieve immigration reform:
The president has a clear record of ignoring the American people’s elected representatives and exceeding his constitutional authority, which has dangerous implications for both our system of government and our economy. (Oh yes, the president has ignored the Constitution, but so had your boss Mr. Steel, Boehner has gone along with everything Obama has done that has been unconstitutional.)
For now, at least, Obama has not resorted to executive action to accomplish the tax reform Sanders has outlined, opting instead to include corporate tax hikes and tax hikes on all Americans in his 2016 budget that would spend nearly $4 trillion and increase the deficit by approximately $470 billion.
The president’s budget proposal includes a one-time 14-percent tax on all overseas profits, a 19-percent tax on all foreign profits going forward, and tax hikes on capital gains.  (When will the American people wake up to the fact we have a Marxist Muslim in our White House who is trampling the Constitution and our liberties?  It’s looking like never.)
My comments in bold.  Grrrrr.

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0 responses to “Obama Considers Tax Hikes Via Executive Action

  1. Emperor Obama get your claws out of my pockets

  2. They need to put this dictator in Leavenworth, Kansas to wait on a Firing Squad! Along with most of his regime! Semper Fi.

  3. Could it be that Congress wants the POTUS to do their dirty work? If they raised taxes they could be breaking promises made to their campaign contributors… If the agenda is to ruin the U.S. then attacking business is another item on the to-do list.

    • Patti, The answer is no. This is all obama.
      But from here on in let’s not even discuss obama anymore. Did you not get the tone of Kelleigh’s post? This is all about Congress not doing the job we elected it to do.
      obama can exec action anything he wants. Congress can stop him. How? They have the power of the purse. He says he wants this or that. Congress votes to give him ZERO Dollars.
      Do you understand now. From here on in our focus and last chance in my book is to some how put the fear of God into Congress to do what we elected them to do.

  4. If congress has chosen to still act like they have no power then perhaps we should send them all home without pay, no need to have them “acting” outraged when they are clearly all in on this mess. I have never seen such a lack of respect for the American voters as I have since the POS took office.

  5. Kevin J Lankford

    Only the ignorant, liars, or cowards, will refer to obama as president.

  6. Up is down; down is up. Black is white; white is black. Wrong is right and right is wrong. And the general consensus of our wonderful elected ‘leaders’ was well stated over 60 years ago by Alfred E. Neuman: “What? Me worry?” Mad Magazine has become our Mad World!
    Is there no one who will stand up for ‘Right’ in this country? Short answer: “NO”!
    “I searched for a man among them who would build up the wall and stand in the gap before Me for the land, so that I would not destroy it; but I found no one.” (Ezekiel 22.30.).

  7. I woke up to the realization Obama “din do nuffins wnong”, just can’t help himself. it’s been proven negroes have little to no impulse control, refuse to live by civilized rules, Obama is a negro, so there! he is innocent of any imagined megalomania. “he jus be doins what cums natchul he be a proud black man who don play by YT’s rules”

  8. If congress doesn’t do something quickly, they will find themselves quite “redundant”, and the President will shut them down.

    • Army Vet, Better yet “We The People” might need to shut them down. Our founding fathers did give us some guidance in this area. Just saying.
      Congress needs to know the people are capable of anything at this point if they don’t do their jobs as elected,

  9. We are now living in Wonderland!

  10. Before they raise one dime in taxes, the people deserve a full accounting of where the missing stimulus money is. Where the fake green companies money is, accounting for all the fraud and waste, the multi billions in wrong paid out monies. They just admitted the wrong payouts total almost 200 million. And they think they deserve to raise our taxes?
    And why not sell off the hundreds of empty government buildings around the country and raise money there?
    And the accounting of money used for Obamacare and the mis spent money on the failed Obamacare web site. Talk about waste.
    You want to know where our money went, look up fraud and waste and the book written on it. And let’s get rid of the double positions of the czars? And let us not forget the wasted millions of overspending on luxury vacations while the population is trying to get their rent money together. Two weeks paid vacation a year and nothing more.
    And let’s not spend one dime on insurance for Congress. Let them buy Obamacare. Let’s cut down the travel on our AirForce jets. Use some kind of common sense.
    Let them show good intent first. Let them lead by example, before taking even more from the middle class.
    Nope, not one dime.

  11. And the congressional repubes are going to rise up and…
    Oh, who the hell am I kidding?


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