- Law Cases
(Dec. 4, 2012) — As Obama and his demolition team raise more and more taxes, hidden, exposed, talked-about and sneaked-in everywhere, businesses and the wealthy are desperately looking for places to run to. Record numbers of millionaires are leaving the country and even giving up U.S. citizenship to avoid the extreme and growing tax bills. According to The New York Post, 8,000 US citizens sought to renounce their citizenship in 2012. This is up from 3,805 in 2011. Businesses and the rich see the Obama hammer coming down hard, demanding just about everything they have.
There is a growing price tag, however, for leaving the U.S. and renouncing your citizenship — a wonderful IRS gift – 15 percent exit tax on all your worth – assets, real estate, securities, businesses and personal things. Obama has demonized business owners and the wealthy from the beginning of his first campaign for President to today. They must pay more taxes…more — more and MORE! Never mind that the middle class to wealthy already pay the majority of all taxes, not the poor.
Recently I heard of a similar punishment tax offered up as legislation in California. Because record numbers of the wealthy and business owners are leaving the state due to out-of-control taxation and regulation, legislators are in a panic. Their plan is to try and pass a bill that will cause wealthy California folks and earners to face a huge penalty and ‘assessment’ on their real estate and other financial assets if they leave the state. Essentially, make it too costly to leave and turn them into rich slaves who work for the State’s redistribution of wealth plan – unbelievable!
The more Obama talks tax increases with the idiot and deceptive ‘Fiscal Cliff’ Talks, the more the masses will look for ways of escape. As is usual, Obama is throwing back GOP proposals and demanding total control and decision-making power over the debt ceiling and payments. He is attempting at every turn to act as a total dictator as Morsi in Egypt is. Morsi, however, is arrogantly rewriting the Egyptian Constitution, while Obama just ignores and spits on ours. He knows most of the GOP will just give in to him, ignore him or put up with him to protect their careers and power.
Now we see Obama trying to slam through climate change emissions rubbish to get a deal put together and avoid falling off the Fiscal Cliff. Obama violated America and our Constitution with forced health care, skyrocketing all our health insurance rates and destroying the best health care system on earth. Now, he intends by hook or crook to slam through his Cap and Trade bull rot to kill whatever is left of our energy, gas and oil industries. He wants greenhouse gases down by 17 percent by 2020. Never mind that it will practically destroy our energy industry, with business expenses, skyrocketing prices and utilities rising ever higher. Of course, with this administration we are all getting used to severe recessions.
Obama is obsessed with windmills and alternative energy, not reality and common sense. Perhaps he should practice what he preaches and start flying around in a hand glider rather than Air Force One. He could have a fancy cup holder and carry a cell phone so he would feel big and powerful.
Rather than have all the business owners and millionaires leave the country due to ridiculous taxation, why don’t we have tax reformation? I am passionate about the only fair tax being a 2% sales tax on everything. According to real numbers, this would bring in between $10 and $20 trillion a year. That is without Payroll tax, income tax, Capital Gains tax and excise tax – NO other Federal Tax anywhere. Think of it. Our economy and country financially heals while freedom is restored.
HARK, maybe we could keep the rich and business owners from renouncing their citizenship and leaving.
I predict it will become more and more costly to leave certain states and the U.S. if you have money.
Join me on my National radio show each day from 7-10pm PAC at www.therothshow.com.