In demagoguing the issues of "Big Oil" and blaming the loss of U.S. jobs on free trade between nations, Barack Obama doesn't want you to know a dirty little secret. One of the major reasons that big corporations leave the United States is because of its high corporate tax rates. Tax rates in the United States are second highest in all of the industrialized world, and are a significant factor in the Anheuser-Busch buyout from Belgian beverage giant In-Bev.
Does Obama give a damn if your favorite American beer is brewed in Belgium? Don't worry, the popular beer will not suddenly lose its taste, though about 10,000 U.S. workers will lose their Anheuser-Busch jobs. Obama wants higher corporate tax rates, a view that is hypocritical from a candidate who says he wants the jobs to remain here. McCain wants to lower corporate tax rates. Okay, I'm biased, but let's look at two bottom line facts:
InBev was paying around 20% of its profits in corporate taxes, compared to Anheuser-Busch's rate of 38.4%.
InBev was paying around 20% of its profits in corporate taxes, compared to Anheuser-Busch's rate of 38.4%.
Next time you're unemployed and hanging around the local pub nursing a Bud draft because you don't have enough money to gas up the pickup truck, you can thank Barack Obama, Nancy Pelosi, and Harry Reid. They're giving you what they think you should want. Dont' argue--they know better than any of us what's good for America.
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