Outrageous Audacity of Lew, Others

The Left over the last few days have had many stories and talking heads planted on the media talking about the tax inversion mergers announced recently by companies such as my hometown Medtronic as well as others.  Yesterday it was Jared Bernstein and today Treasury Secretary pedestrianaire Jack Lew.  Who Lew?  Exactly.  Bernstein has been an economic advisor and talking head for the White House team.  Other writers from the Left have also written about how it is unacceptable tax dodging behavior and desertion (connoting the military type of desertion) that has to be reigned in by our legislative masters lest it become a stampede and hurts domestic morale.

Really?  The only thing that is unacceptable is that we have a President who is so out of touch with reality that he can not deal seriously with Congress on any issue, never mind trying to reform what everyone except maybe Henry Waxman thinks is terminally broken in our tax code.  We have the world’s highest rate of corporate tax at 35% nominal.  Of course having such an outrageous rate of tax doesnt hurt the huge corporations that can afford entire departments of tax attorneys to make their effective rate much lower.  No it hurts smaller businesses who for want of necessary but expensive advice actually pony up to satisfy the idiot socialists in Congress who think that all your base are belong to us, and that whatever we get to keep is s gift from the state and do not forget it.  It is a rate so outrageous that it massively affects how people do business, thus failing one of the bright line tests of whether policy is too onerous.  There are literally trillions sitting overseas parked by the big corporations who will not bring it back directly.  I have been told by someone who knows that this is actually not as big a deal as it seems because there are ways around these things.  But it certainly leads to waste as scads of legal advisers must be employed to do so.  This is another example of how you have to be big or politically connected to get by, so you can cheat your way ahead, and the little guys are trod upon as clueless chumps.

Then Lew starts going on about how these corporations should be economic patriots and not seek to invert outside the US.  What he means is they should happily pay more tax.  Tax which will be absolutely and utterly wasted by government.  For the most recent and outrageous example consider that $5 Billion was estimated to have been spent by the Federal and various state governments on Obamacare websites alone, none of which worked, and many of which were entirely written off.  Look, I PERSONALLY could have coded up a system that would have worked in less time and for maybe $50 Million dollars, or 1% of what was wasted.  And yet Lew has the balls to suggest that people and companies should stay and pay more tax than they must?  Never mind that as public corporations they have a DUTY to minimize the expense, including tax, that they pay.

I do not think that his call for retroactive legislation to “fix” the problem is going to gain much traction.  Some TV commentator said that Lew’s suggestion of patriotism brought out guffaws from those listening.  As with the rest of the dangerously incompetent Obama administration, guffaws are all that should be heard.  Obama the Constitution Killer calling on patriotism.  Please.

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