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International Business Machines Corporation Message Board

  • bjspokanimal bjspokanimal Feb 20, 2013 8:15 PM Flag

    Obama: No Growth, No Jobs, Huge Deficits, Govt. Gridlock

    I totally get why he was elected. The top 1% of Americans contribute fully 40% of government income tax revenues yet they only represent 1% of the vote. The bottom 47%, on the other hand, pay no federal income tax, yet they represent 47% of the vote.

    The result is that the U.S. has so many government social programs that a person at the poverty line in the U.S. has a standard of living that is far beyond that of any person at the poverty line in any other country on earth.

    The result is also that "capital investment" hit a 50-year low in the U.S. last year as wealthy americans are taking their investment capital overseas to build foreign businesses and hire foreign employees. American corporations are also hoarding hundreds of $Billions of cash overseas to avoid re-patriating that cash to the U.S. where it's taxed by the highest, marginal, corporate tax on the planet.

    Clearly, President Obama's preference for expansive government, $Trillion dollar deficits, rampant money printing by the federal reserve, and a propensity to raise taxes over and over and over... is spiraling our country toward the same fate as Greece, which was doing what Obama is doing for the past decade.

    Our grandfathers would surely turn over in their graves if they could see what Obama is doing to our country and our children's future

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