A Message to Business and Workers

Specifically the House did the following:

1. They licensed the abrogation of contracts. Their message is simply that it makes no difference what rules we put into effect now; we can and will change them so you cannot depend on them. Global businesses take heed: Your previous judgment about the sanctity of US law has been rendered faulty by our political leadership.

2. They passed retroactive taxation. Their message is that, whatever you plan with regard to the federal tax code, do not assume consistency and do not build any reliability about your government into your decision making. We, in Congress, can reverse our laws and confiscate your results.

3. They made the tax punitive. A 90% tax on something is like taking all of it. The chairman (Rangel) of the House taxation committee actually admitted that by taxing the 90% he was leaving the remainder for the states. In other words, states are now encouraged to engage in the same form of behavior.

via A Lynch Mob! | The Big Picture.

This sends an important message to businesses. If you do business in the United States, you might want to rethink any expansion plans you have. In fact, you might want to consider shrinking your ongoing operations.

This also sends an important message to employees: prepare for the worst. If you thought your job was at risk before, it’s really at risk now.

You might want to send a thank you note to your Congressman. You might also want to thank President Obama, who has shown zero leadership by not opposing this outrageous behavior.

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