So the folks at the tea parties and talk radio have an new cause, as shown by Lisa Benson's latest political cartoon:



The Evil Obama Administration is at is again, raising our taxes. Soon Wonks Anonymous will be unable to deduct his investment in his Serbian Subsidiary, Rakija n Stuff, from his domestic income. These investments will only be deductible if Rakija n Stuff actually make a profit. Then they can be counted against these profits as business expenses.

This would repeal changes made in the Clinton administration. The man was a weasel but mostly he was our weasel.

Which of course perverts the whole purpose of the investment tax credit. This, as anyone knows, is to reduce the amount of taxes paid by corporations so that they will love us and keep their headquarters in the US while they ship jobs overseas.

Some liberals might have been under the impression that the purpose of the investment tax credit was to encourage domestic investment that would increase domestic productivity and keep high paying jobs in the US. But we appear to be naive fools. Not only is Lisa Benson opposed to this one but editorial writers on the right of center, the SF Comical,and on the left of center, The NY Times, assure us that this is a bad idea because it will reduce the competitiveness of US firms and drive them to relocate in Bangalore or somewhere.

It is good to know that wiser heads than President Obama and Wonks Anonymous will probably set our tax policy. Watch to see this one defeated with all the Republicans and a gang of moderate Democrats voting against.