The Irony Of Good News

GDP rose at a greater rate than expected in Q4, and what lead that expansion? Corporations.

http://finance.yahoo.com/news/Economy-grows-at-57-pct-pace-apf-3028347842.html?x=0

It's amazing how Bama and Democrats can so vilify corporations, the engine of the economy, in one breath, and then go out and trumpet the turnaround in the economy under their leadership in the next.

Well guess what, you can't have it both ways. I work for a company that is incorporated outside the United States for tax purposes, and if Bama starts hammering corporations - he's already threatening to do it to banks - with more taxes or penalties or red tape, then more companies will incorporate somewhere else. This is the essence of globalization, and its why Democrats antiquated ways of thinking about tax revenues don't work. Unlike our bloated government, corporations need to reduce costs wherever possible - they can't just print money. And when the government increases the tax burden, a company in trouble can shed that cost by seeking greener pastures. That's why Bush' tax cuts worked in the last decade - Tax "revenues" were at all-time highs, and unemployment was at all-time lows. President Bush created a business-friendly environment at home. Democrats and the media have already deleted these facts from history and most of our minds with their endless war on Bush, which is still a key play in Bama's campaign, as evidenced Wednesday night.

By the way, how come we're not hearing anything about the Bush tax cuts which are set to expire this year? Democrats have no interest in extending them, instead offering credits to people who already don't pay taxes anyway. That's just more burden on the rest of us! I remember now - Bama gave us all a tax break of about $13 last year in the "stimulus". Great. That's meaningful change we can believe in. But it's not permanent, so they shouldn't call that "cutting taxes." Again, it's a one time credit, mostly to people who didn't pay any income taxes.

Anyway, the GDP is good news, but it will be sickening to watch Democrats spin it as a victory for their ideology when the opposite is true.