• Meta

  • Click on the calendar for summaries of posts by day, week, or month.

    March 2015
    M T W T F S S
    « Feb   Apr »
  • Recent Posts

  • Recent Comments

    Orville on Religion of Peace Update: Musl…
    Desi Chinese on Religion of Peace Update: Musl…
    Oto ekspertiz Kaç li… on Religion of Peace Update: Musl…
    Al Dajjal (@AlDajjal… on Where are the “Moderate…
    esgort on Religion of Peace Update: Musl…
  • Archives

  • Advertisements

Obama Seeks to Bypass Congress (and the Constitution) to Raise Taxes

For a VERY LONG list of reasons, Obama should have been impeached long ago, and even arrested and jailed. If he does this, there are no punches left to be pulled. He MUST be overthrown. The Constitution is VERY clear on this matter. And I quote…

U.S. Constitution, Article 1, Section 7: ALL bills for raising Revenue shall originate in the House of Representatives

The president, no matter who he is, has ABSOLUTELY NO AUTHORITY in the area of raising taxes beyond signing into law a bill which originated in the house, and which also passed the senate.

White House eyes executive action for possible corporate tax hikes

Published March 03, 2015

| FoxNews.com

The White House may be inching closer to the idea of raising taxes by executive action – the same path President Obama took to push through his controversial immigration actions.

Press Secretary John Earnest told reporters on Monday that Obama was “very interested,” when asked about the prospect of changing the tax code via executive action.

It’s an option that Sen. Bernie Sanders, I-Vt., suggested in a letter to the White House on Friday. In it, Sanders called on the Obama administration to curb six specific tax breaks through executive action, which he estimates could raise $100 billion over the next decade.

“If Congress fails to address these problems, the administration should act on its own to close, at a minimum [those tax breaks],” Sanders said.

Three of the tax breaks were created through administrative actions or regulations which Sanders argues would allow Obama to reverse them through executive powers.

The other three, Sanders said, could be closed through regulatory powers delegated to the Treasury Department. Among them are equity stripping and earnings stripping.

Earnings stripping happens when a U.S. company buys a foreign company, relocates overseas and then deducts interest payments on large debts borrowed by the foreign subsidiary.

“The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans,” Earnest said in response to a question about Sanders’ request.

“Now I don’t want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,” Earnest continued. “But the president has asked his team to examine the array of executive authorities that are available to him to try to make progress on his goals. So I am not in a position to talk in any detail at this point, but the president is very interested in this avenue generally.”

Sen. Cory Gardner, R-Colo., on Tuesday urged Obama not to heed these calls.

“I worry that unilateral action, publicly justified by your spokesperson as a response to an obstinate Congress and dependent upon an improper expansion of executive power, is becoming standard practice under this Administration,” he wrote in a letter to the president. “… Just as troubling are recent reports that your Administration is exploring ways in which it can implement new tax revenues without the support of either house of Congress.”

Link to article:  http://www.foxnews.com/politics/2015/03/03/white-house-eyes-executive-action-way-to-hike-taxes/


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: