Obama Tax Plan: President Goes All In on Confiscation
Obama Tax Plan: President Goes All In on Confiscation President Obama released his blueprint for the federal budget Monday. Unsurprisingly, it is expected to boost federal spending far higher than recent years. His tenure has already witnessed a greater accumulation of federal debt than any other time in US history. It is unsustainable based on the nation’s taxing traditions. In recent days, however, Obama has hinted at a new paradigm in federal revenue collection: confiscation. Last week, the White House floated a proposal to levy a one-time tax on the $2 trillion in foreign earnings American corporations have overseas. The… View Article
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