Another nail in the coffin!

After reading this article in the WSJ "Firms Face New Tax Curbs" I think that I have found one small thing with which I might agree. The article, being in the WSJ - a known business friendly publication - didn't seem too hostile to Obama's plan, closing some of the tax loopholes for offshore business activity. I don't understand all of the issues involved and it didn't seem like that much money being recovered over 10 years, maybe $210 billion. I do understand, though, that Obama's continuing hostility toward businesses can and will have a huge impact on our economy. It may be that closing a few tax loopholes regarding a business's offshore dealings is a good thing, but the accumulated effects of Obama's continued deriding of US companies and his general negative attitude toward business, will be that many companies may choose to move overseas or just plain close their doors. There is not much left in the US business base when it comes to light or heavy industry. The steel industries are gone, most of our consumer electronics are made overseas, and now the US auto industry is on its last legs. All we need now is for the big oil companies to move and close their refineries here and there won't be much left except a cushy job at McDonalds for millions of Americans to look forward to. If it true that some companies with offshore and overseas business are cheating the system then Obama's tax fix will be good. If is just another tactic to stick it to big business then things could sticky. No one wants to do business where the anti business attitude is so high.