Sunday, May 24, 2009

But Wait, There's More

My good friend Cato has sent me something that he encountered on his walks about the Forum. I post his guest article here....
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From http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5374095/British-banks-revolt-against-Obama-tax-plan.html

"..... British banks revolt against Obama tax plan. British banks and stockbrokers may refuse to take on American clients if new international tax proposals outlined by President Obama are passed.The decision, which would make it hard for Americans in London to open bank accounts and trade shares, is being discussed by executives at Britain's banks and brokers who say it could become too expensive to service American clients. The proposals, which were unveiled as part of the president's first budget, are designed to clamp-down on American tax evaders abroad. However bank bosses say they are being asked to take on the task of collecting American taxes at a cost and legal liability that are inexpedient."


What idiotic incompetence! Now Obama wants foreign banks to get entangled in enforcing our tax laws, just like he wanted foreign governments to take on Guantanamo prisoners. This guy takes no responsibility for anything and is arrogant enough to think that the whole world is going to bow down to the Anointed One.

There is a common pattern here. Just as Germany asked Obama, “Well if terrorists aren’t dangerous, why don’t you keep them?”, so England’s banks are rightly saying. “Ain’t our problem, Obama.” But this is all part of Obama’s welfare mentality: why take responsibility for your problems if you can get someone else to take care of them?
~ Cato

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