Truth and Consequences

Bob Bauman (January 9, 2013)

The Wall Street Journal, last week, noted rather astutely: “One of Mr. Obama’s political gifts is that he can sound so plausible describing the opposite of his real intentions.”

That is a gentlemanly way of saying the president of the United States often lies – either intentionally or perhaps pathologically.

I don’t know about you, but it takes my breath away at times when I watch Obama on television saying things I know for a fact are untrue. Worse yet is that I know he also must know he is telling lies.

But Obama utters such statements with such ease and grace that the average American, who pays little attention to the details of his utterings, never knows that he is a willing participant in the rank deceptions of the president of the United States.

Ronald Reagan always got an appreciative laugh from his audience when he described the test to discover if a politician was lying: “See if his lips are moving.”

Well, moving lips are Mr. Obama’s stock in trade, and his smooth persona and golden oratory have propelled him from a backbench in the Illinois State Senate to the White House without most of his listeners ever knowing what he really believes.

By now we should know.

The man is a doctrinaire socialist, who believes government can, and should tax and spend your money to achieve the remaking of America as he and his leftist pals see it.

The late George Orwell, author of Nineteen Eighty-Four, in his 1949 vision of a totalitarian society, had much to say about the language used by political leaders who demand that every citizen accept that 2+2=5 and that “War is Peace, Freedom is Slavery, Ignorance is Strength.” Orwell rightfully observed: “Political language … is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.”

On January 1, 2013 at 11:20 p.m. EST, President Obama, itching to get aboard Air Force One so he could fly back to Hawaii for more Christmas vacation at the taxpayers’ expense, stepped into the White House press room and wished America: “Happy New Year, everybody.”

His lips then began to move, that sure sign Ronald Reagan warned us about:

“A central promise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working middle-class Americans. Tonight, we’ve done that… I will sign a law that raises taxes on the wealthiest 2% of Americans, while preventing a middle-class tax hike.

“Under this law, more than 98% of Americans and 97% of small businesses will not see their income taxes go up… The fact is the deficit is still too high… Tonight’s agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households in America… Cutting spending has to go hand-in-hand with further reforms to our tax code so that the wealthiest corporations and individuals can’t take advantage of loopholesand deductions that aren’t available to most Americans.”

Let’s look at the truth and consequences of his statement.

Wealthy Corporations and Individuals Taking Advantage of Loopholes

Obama began his statement by saying he would sign the bill Congress passed, which assumes he or his staff knew what was in the bill and that his statement about the bill was truthful, but…

Fact: The bill contained more than $40 billion in tax loopholes, such as:

a) Hollywood bonanza: The bill extends for two years a provision that allows film and television producers to expense the first $15 million of production costs incurred in the U.S. This will cost the Treasury $430 million in 2013 and 2014 alone.

b) The 20-year-old green-energy giveaway for wind-production tax credits for companies like General Electric and Siemens which benefit indirectly by making wind turbine gear will cost to taxpayers $12 billion.

c) Cellulosic biofuels also had their tax credit continued, and the definition of what qualifies was expanded to include producers of “algae-based fuel” ($59 million). Speaking of sludge, bio-diesel and “renewable diesel” will continue receiving their $1 per gallon tax credit ($2.2 billion).

d) Miscellaneous billions – an accelerated tax write-off for owners of Nascar tracks (cost: $78 million) to benefit the Michigan International Speedway, a tax credit for companies operating in American Samoa ($62 million), including a StarKist Tuna factory, and Puerto Rican distillers got a renewed $222 million rum tax rebate to name but a few.

With a calculated hypocrisy over the last four years, President “Fair Share” Obama has railed against “the wealthy,” the big banks and Wall Street, even as he has bailed them out with trillions of your tax dollars.

He used the latest fiscal cliff bill as a cover to convince a majority of unthinking Americans that “the rich” were made to pay while corporate welfare continues distorting the tax code and keeping tax rates for all of us higher than they need be – and keeping campaign contributions rolling in to Washington.

Other than Ron Paul and his Kentucky Senator son, Rand, most Republicans seem too politically stupid to adopt a new message that repudiates the corporate welfare embodied in this disgraceful tax bill.

For those who say America needs a third political party (because Republicans and Democrats are one in the same), I say a second party would be nice – for real hope and change.

But since there’s not much hope of that at the moment, it has never been more important to protect your wealth. If Obama has his way, more tax hikes, aimed specifically at you, will come… and they will continue to come. Taking steps to protect your wealth and liberties is the only defense against our invasive, overreaching, tax-abusing government.

If keeping the government’s greedy hands off your hard-earned money and having a “Plan B” to secure your freedom for the future interests you, I urge you to take action, and you can start by reading this.

Faithfully yours,

Bob Bauman JD
Chairman, Freedom Alliance

P.S. As a former U.S. Congressman, I’ve learned the forbidden secrets of the rich and famous. Secrets most Americans are completely unaware of, or if they are aware of them, they have no idea how to reap the benefits. Well I’m here to tell you, you don’t have to be one of America’s elite to build a freer, richer retirement. That’s why I’ve put together 320 easy-to-implement strategies for protecting your financial future that were previously only available to the super rich. For this special report, click here.

Truth and Consequences

Wealthy Corporations and Individuals Taking Advantage of Loopholes

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