Should have been in the stimulus

President Obama could have had a quick easy stimulus if he had eliminated corporate taxes for one year. This would have strengthened businesses and encouraged them to hold on to employees for a while longer. It would only have cost $325 billion and been immediate with no losses from government handling of money.

An even better option would have been to allow corporations with profits offshore to bring that money home with no taxes for one year. Generally, that money is not taxed if left in the foreign countries. The money is only taxed in the local country and not taxed again by the U.S. I bet a lot of that money would have flowed back to the United States stimulating the economy.

Instead President Obama is suggesting the opposite. He wants to tax the money that companies have in foreign countries, so companies will have to pay tax twice once to the foreign country and then again to the U.S.

I wonder if this will drain money from the U.S. If companies have to pay U.S. taxes on the money they use in their foreign operations, then they will have to replace it from somewhere to keep their foreign operations growing. That may mean they have to send money from the U.S. to their foreign operations.

President Obama and the Democratic party seem to be following their anti-capitalist philosophies.

As one business broadcaster recently asked, "is communist China the last great capitalist free-market country on the planet".