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President Obama Blasts "Tax Inversions Are Wrong", Demands "Economic Patriotism" - Live Feed

Tyler Durden's picture


The President is explaining 'the economy' to the people, but appears to be stuck one topic...


Time for some retroactive executive actions...

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Thu, 07/24/2014 - 16:39 | 5000305 DoChenRollingBearing
DoChenRollingBearing's picture

And my family asked me why I would invest in Peru!

That's why...

Thu, 07/24/2014 - 16:39 | 5000309 90's Child
90's Child's picture

Why do you invest in Bitcoin?

Thu, 07/24/2014 - 16:42 | 5000320 gh0atrider
gh0atrider's picture

PHUckING Bitcoin!!! YEAH!

Invest that shit!

Thu, 07/24/2014 - 16:45 | 5000347 Pladizow
Pladizow's picture

He'll get his Pat-RIOT-ism, soon enough!


Thu, 07/24/2014 - 16:47 | 5000359 XenoFrog
XenoFrog's picture

I love how the people who pay the vast majority of the taxes are continually attacked for, "Not paying their fair share".

Thu, 07/24/2014 - 16:50 | 5000377 DoChenRollingBearing
DoChenRollingBearing's picture

Excellent observation.

+ a billion

Thu, 07/24/2014 - 17:06 | 5000447 max2205
max2205's picture

It's the only thing I agree with Barry on. The only thing

Thu, 07/24/2014 - 17:31 | 5000621 nobita
nobita's picture

Agreed. Im a libertarian as most here but we have to deal with reality and that reality is that the US goverment (and all the other ones) are enormous and must be fed with taxes. Small businesses pay a large %age in taxes to help finance this but i read all the time about GE, google, apple etc paying a very small %age in tax.

This is unfair regardless of the total amount, if not for any other reason then because it hurts competion and fair competition between companies large and small is crucial for our wellbeing i think.

Thu, 07/24/2014 - 18:11 | 5000904 N2OJoe
N2OJoe's picture

Until I see congressmen starving to death while in office(there's some hope and change for ya), the government does not need more revenue.

From ANY source.

Fri, 07/25/2014 - 07:51 | 5002781 Lostinfortwalton
Lostinfortwalton's picture

Monthly federal tax receipts are at an all time high. But there is no cutting back on spending whatsoever so the deficit grows and grows. You could finance a small nation on what we spend for domestic SWAT teams alone.

Thu, 07/24/2014 - 18:12 | 5000932 Reaper
Reaper's picture

When you feed the swine, they get bigger and hungrier.

Thu, 07/24/2014 - 18:52 | 5001162 Umh
Umh's picture

GE can afford lobbyist and lawyers, not to mention politicians. This is the reason that large businesses don't really object to large governments; they have a major competitive advantage over smaller businesses when it comes to dealing with the government.

Thu, 07/24/2014 - 16:53 | 5000386 90's Child
90's Child's picture

No shit.

If the free shit army is hungry then obviously there is more to take.

Since the FSA is a huge majority. It's a win win for all but the working class.

Thu, 07/24/2014 - 17:03 | 5000437 Phillycheesesteak
Phillycheesesteak's picture

Uh. Corporations pay about 10% of the tax revenue the U.S. Government collects. The rest comes from us suckers.

Thu, 07/24/2014 - 17:21 | 5000529 Winston Churchill
Winston Churchill's picture

And where pray, do you think that 10% comes from, you moron ?

As you don't get it , its from their customers, like you.You pay all the tax.

Thu, 07/24/2014 - 17:23 | 5000547 snr-moment
snr-moment's picture

So where does the middle class, excluding gov employees get their money from?

Thu, 07/24/2014 - 17:25 | 5000575 CuttingEdge
CuttingEdge's picture

What middle class? That virtually extinct one that has been just about tapped dry?

Thu, 07/24/2014 - 17:33 | 5000634 snr-moment
snr-moment's picture

No, the one that is reestablishing itself thanks to our lower than the rest of the world corporate tax.

Thu, 07/24/2014 - 18:03 | 5000855 darteaus
darteaus's picture

Stop smoking bath salts.

Thu, 07/24/2014 - 20:09 | 5001529 NumNutt
NumNutt's picture

Might want to check your facts there sparkie, The US has some of the highest corporate tax rates, 15 to 35% just for Federal. Then you can add the State corporate tax rates on top of that. That is why companies are relocating their operations off shore like to the Caymen Islands - 0% corporate tax rate.....

Fri, 07/25/2014 - 08:50 | 5002947 StandardDeviant
StandardDeviant's picture

I'm assuming that was sarcasm.

Thu, 07/24/2014 - 17:05 | 5000445 fuu
fuu's picture

Wow, who knew Gene Simmons was a ZH poster.


Can you autograph my Double Platinum Live album?

Thu, 07/24/2014 - 17:49 | 5000772 twh99
twh99's picture

I am still waiting on the definition of "fair share".

Thu, 07/24/2014 - 18:58 | 5001217 Umh
Umh's picture

That's when you pay instead of me.

Thu, 07/24/2014 - 18:55 | 5001204 mc225
mc225's picture

whoever coined the little phrase, 'their fair share'. that was brilliant. the assonance just rolls off the tongue. i didn't like it, but had to admit it was catchy for the consumption of hairlips.

Thu, 07/24/2014 - 16:45 | 5000350 Raymond K Hessel
Raymond K Hessel's picture

Wouldn't it be great if we could vote for 'None of the Above'?

Thu, 07/24/2014 - 17:23 | 5000559 Harbanger
Harbanger's picture

If wish people understood the importance of politics, truth is the Gov you have is more dangerous to your wealth and life than any economic collapse. 

Thu, 07/24/2014 - 16:42 | 5000323 SheepRevolution
SheepRevolution's picture

Economic patriotism = Don't pay income tax

Thu, 07/24/2014 - 16:43 | 5000327 gh0atrider
gh0atrider's picture

Don't ever pay taxes again under Satoshi's Red Sun.

Thu, 07/24/2014 - 16:44 | 5000331 john39
john39's picture

come now, the bankers and the MIC need YOUR money to kill kill kill.  be a good serf and get to work.

Thu, 07/24/2014 - 16:45 | 5000342 gh0atrider
gh0atrider's picture

The MIC cannot ride this virtual gh0at.

Thu, 07/24/2014 - 16:52 | 5000360 DoChenRollingBearing
DoChenRollingBearing's picture



(Stay under the radar then..., mix them coins, buy a used laptop for cash at the pawnshop (and don't use it where you use your others), LOTS of wallets, etc.)


Think like a spy...

Thu, 07/24/2014 - 16:43 | 5000324 Pladizow
Pladizow's picture

Perhaps we can get Putin to accept an Obama inversion?

Thu, 07/24/2014 - 16:43 | 5000326 DoChenRollingBearing
DoChenRollingBearing's picture



90's Child

Diversification.  Bitcoin is well under 1% of what I own.  It seems robust, we'll see.  Bitcoin is not run by Obama either...

Thu, 07/24/2014 - 16:44 | 5000330 gh0atrider
gh0atrider's picture

75% in Bitcoin and 25% in copper coins for safety.

Thu, 07/24/2014 - 16:48 | 5000366 DoChenRollingBearing
DoChenRollingBearing's picture

Well at least the BTC don't weigh much...

52100 steel bearings are our base metal of choice!

Thu, 07/24/2014 - 17:25 | 5000577 gcjohns1971
gcjohns1971's picture

52100 rockwell?

Can they be formed into penetrators for armor piercing bullets?

Thu, 07/24/2014 - 17:35 | 5000644 DoChenRollingBearing
DoChenRollingBearing's picture

52100 is the grade of steel (approx 1% C and 1% Cr, it is a fairly hard steel, but will corrode), but we are now treading on ground I do not know much about... *


* Do I ever let that stop me?


Armor pierrcing bullets?  If they would build VERY strong cartridges and put in very powerful propellant, than TUNGSTEN bullets would be my choice

Thu, 07/24/2014 - 16:43 | 5000329 Raymond K Hessel
Raymond K Hessel's picture

Economic patriotism is code for confiscation. It's like we live in Venezuela or Nazi Germany. Unbelievable.

Thu, 07/24/2014 - 16:45 | 5000345 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, ominous parallels...

Thu, 07/24/2014 - 16:54 | 5000396 Winston Churchill
Winston Churchill's picture

Indeed, they will use that phrase when they convert your 401k into a Myra account.

Just getting the sheeple used to it before they turn it onto them as a weapon.

Its only fair to the children, that we have economic patriotism.

Catchy heh ?

Capital controls by the back door with FACTA for individuals.

Now they are going for corporate monies. legislsation or EO next.

Uncle Scam is going to steal everything, given time, from its citizens.Its survival

is far more important than yours.2 bn hollowpoints , say I'm right.

Thu, 07/24/2014 - 16:57 | 5000408 DoChenRollingBearing
DoChenRollingBearing's picture

+ moar 9mm hollow points

Thu, 07/24/2014 - 17:37 | 5000672 nobita
nobita's picture

Not exactly raymond.

All companies should pay the same % tax. Some of the huge US corporations have became insanly good at avoiding just that and thus places a larger burden on the corporations and people who do pay their taxes without abusing every loophole.

Socialism is redistribution of wealth which is almost always wrong. Everyone paying the same is fairness. I think.

Thu, 07/24/2014 - 17:46 | 5000741 Chief Wonder Bread
Chief Wonder Bread's picture

Good point. Control the terms of debate and you control the debate.

Thu, 07/24/2014 - 16:46 | 5000354 Berspankme
Berspankme's picture

If you evade paying any taxes, bloodsucking parasites like Obuttfuck wouldn'texist. Do the right thing sheeple

Thu, 07/24/2014 - 16:40 | 5000308 lolmao500
lolmao500's picture

LOL at economic patrotism. What about he guts the banks and hangs Bernanke, Geithner, Yellen and a bunch of other Keynesians POS? That's economic patrotism.

Thu, 07/24/2014 - 16:42 | 5000321 toady
toady's picture

Sounds about right. 

Thu, 07/24/2014 - 19:24 | 5000730 Blankenstein
Blankenstein's picture

How about that Goldman's thief Jon Corzine?  Oh that's right, Obamination is calling him asking him what to do. Then they use taxpayer money to bailout the banksters' bad casino bets.  Fuck Obama and his economic patriotism.  

"The president and I weren't back there blaming Jon Corzine then, you know what we were doing? We were on the phone calling Jon Corzine, literally, I literally picked up the phone and called Jon Corzine and said Jon what do you think we should do?"

Thu, 07/24/2014 - 16:40 | 5000311 A82EBA
A82EBA's picture

my screen says "just concluded"

Thu, 07/24/2014 - 16:47 | 5000356 FuzzyDunlop21
FuzzyDunlop21's picture

Probably a good thing. As someone watches Obama their number of functional brain cells drops precipitously

Thu, 07/24/2014 - 19:03 | 5001240 Umh
Umh's picture

It's easier to read things that are insane than listen to them. We can read much faster than he can talk so why waste time listening to him. It may even help avoid the spin; think NLP.

Thu, 07/24/2014 - 16:41 | 5000314 toady
toady's picture

Economic patriotism!


You gotta be fuckin kidding me!

Thu, 07/24/2014 - 16:42 | 5000325 john39
john39's picture

Patriotism is the last refuge of a scoundrel- S. Johnson.

Thu, 07/24/2014 - 16:45 | 5000340 Raymond K Hessel
Raymond K Hessel's picture

I dare you.  I double dare you motherfucker! - S.L. Jackson.

Thu, 07/24/2014 - 22:23 | 5002011 Cobra
Cobra's picture

S. L. Jackson beer... Courtesy of Dave Chappelle.

Thu, 07/24/2014 - 16:51 | 5000380 Squid Viscous
Squid Viscous's picture

someone whould explain to Barry, an inversion is like when your in a tight 69 position with Reggie, it's mutually beneficial ...

Fri, 07/25/2014 - 08:51 | 5002955 StandardDeviant
StandardDeviant's picture

What a grotesque expression.  It's straight out of "Atlas Shrugged".

Thu, 07/24/2014 - 16:41 | 5000319 eatthebanksters
eatthebanksters's picture


Thu, 07/24/2014 - 16:45 | 5000339 tardball
tardball's picture

Obummer ain't no Keynesian; he's an American!

Thu, 07/24/2014 - 16:45 | 5000344 FuzzyDunlop21
FuzzyDunlop21's picture

I wouldnt mind paying taxes if it didnt go to bullshit. 

Thu, 07/24/2014 - 16:53 | 5000389 Raymond K Hessel
Raymond K Hessel's picture

When you wrote that, did it sound in your head like you really meant to say, "I wouldnt mind eating shit if it didnt go in my mouth?"

Logically, they're the same sentence. 

Thu, 07/24/2014 - 17:43 | 5000716 nobita
nobita's picture

Cmon Raymond. There is such a thing as "public good" such as motorways and a national DEFENSE army for example.

We need to pay taxes for such things. 

I obviously don´t agree with the current setup in the western world were half your income is confiscated to pay for all the silly "projects" and votebuying giveaways goverments are doing today.

Thu, 07/24/2014 - 16:46 | 5000346 buzzsaw99
buzzsaw99's picture

lame duck rhetoric

Thu, 07/24/2014 - 16:46 | 5000348 One And Only
One And Only's picture

Economic Patriotism = hide your wealth...pronto

Thu, 07/24/2014 - 16:47 | 5000358 SickDollar
SickDollar's picture


equals “stay here and pay punitive taxes to cover our ruinous spending habit”

Thu, 07/24/2014 - 19:19 | 5001330 Umh
Umh's picture

Forget her other works for the moment. Sometimes Ayn Rands "Atlas Shrugged' is spot on.

Thu, 07/24/2014 - 16:48 | 5000361 Joebloinvestor
Joebloinvestor's picture

Yeah, like anybody should listen to Barry, the FUCKING DOPE.

Thu, 07/24/2014 - 16:50 | 5000368 Raymond K Hessel
Raymond K Hessel's picture

That made me laugh out loud.

Thu, 07/24/2014 - 16:49 | 5000364 Joebloinvestor
Joebloinvestor's picture

Patriotism = seizure (like the draft).

Thu, 07/24/2014 - 16:49 | 5000365 stant
stant's picture

Of rather spend it on Booz and women piss away the rest

Thu, 07/24/2014 - 16:50 | 5000373 agent default
agent default's picture

Patriotism... The last refuge of every con artist elected into office.

Thu, 07/24/2014 - 16:51 | 5000378 TrustWho
TrustWho's picture

"Fair" is the most used word of a Tyrant, because only she gets to decide what is fair. The best any government can promise is justice by demanding the law is applied equally to all. Obama gets more dangerous as he gets more desperate.

Thu, 07/24/2014 - 16:56 | 5000397 Raymond K Hessel
Raymond K Hessel's picture

"Justice", too.  It implies a crime has happened, we're the victims, and the speaker is the Hero to save us from further harm.

Thu, 07/24/2014 - 16:51 | 5000383 Obama_4_Dictator
Obama_4_Dictator's picture


Thu, 07/24/2014 - 16:55 | 5000400 DoChenRollingBearing
DoChenRollingBearing's picture



-- Loan money to foreigners (think this one through)

-- Bitcoin

-- Gold

Get started!

Thu, 07/24/2014 - 16:54 | 5000394 NOTaREALmerican
NOTaREALmerican's picture

I like the "economic patriotism" concept, politically.     Next election one of the parties should have a slogan like:   Country First  Tax Corporations.

It could be a winner.  

Thu, 07/24/2014 - 16:56 | 5000404 Raymond K Hessel
Raymond K Hessel's picture

Country First. End The Fed.

Thu, 07/24/2014 - 19:33 | 5001336 Umh
Umh's picture

Corporations never pay taxes. Think about it. Corporations are taxed for at least two reasons: to hide how much the people are actually paying and social engineering by favoring a business or type of business over another.

Thu, 07/24/2014 - 16:56 | 5000402 Quinvarius
Quinvarius's picture

When Obama speaks like this, I get a tingle down my leg.  It is my spider sense telling me to run like Hell.

Thu, 07/24/2014 - 17:01 | 5000432 DoChenRollingBearing
DoChenRollingBearing's picture

Oh.  In my case I thought it was my 58 year old prostate...

Thu, 07/24/2014 - 17:12 | 5000480 Winston Churchill
Winston Churchill's picture

Tingle, not tinkle, Do Chen.

Thu, 07/24/2014 - 17:35 | 5000662 DoChenRollingBearing
DoChenRollingBearing's picture

Still a little damp from when last I LOL'd...

Thu, 07/24/2014 - 16:58 | 5000418 tony wilson
tony wilson's picture

another day

more barmy late start tv video shows.

another day

more unkle tom foolishness

fuck you you failing mk software.

Thu, 07/24/2014 - 17:03 | 5000433 Uchtdorf
Uchtdorf's picture
‘Economic patriotism’: Rhetorical, not economic, policyU.S. President Barack Obama announces new national infrastructure initiative at the Port of Wilmington, Delaware, in front of the I-495 Bridge, which is undergoing substantial structural repairs on July 17, 2014. by David Gura
Wednesday, July 23, 2014 - 14:58

Recently, President Obama has been traveling around the country, trying to shift focus back onto the economy. We talked to him about that a few weeks ago, at the White House.

You may have noticed a refrain in some of the president’s most recent speeches. Here is an example from a speech he delivered in Denver: “That’s what makes this country great – a sense of common purpose and patriotism, an economic patriotism.”

President Obama may have cribbed that term from a speech by former Ohio Gov. Ted Strickland at the 2012 Democratic National Convention. He was talking about the Republican nominee for president, Mitt Romney.

“Mitt has so little economic patriotism that even his money needs a passport,” Strickland said. “It summers on the beaches of the Cayman Islands, and winters on the slopes of the Swiss Alps.”

Obama used the phrase in a TV ad soon after, and it became the title of the president’s economic plan. So, almost two years later, how does Strickland define “economic patriotism”?

Thu, 07/24/2014 - 17:06 | 5000448 insanelysane
insanelysane's picture

Tim Geithner was UNpatriotic

Tim Geithner was patriotic

Thu, 07/24/2014 - 17:29 | 5000608 snr-moment
snr-moment's picture

Forcing other people to pay higher taxes, while dodging them patriotic as Obama could get.

Thu, 07/24/2014 - 17:42 | 5000467 ThisIsBob
ThisIsBob's picture

You dumb fuck.  Exactly when was the last time in recorded history that somebody, motivated by patriotism,  paid more taxes than their accountants told them they were legally obligated to?

Why don't you get rid of the loop holes, big guy?



Thu, 07/24/2014 - 17:43 | 5000721 CCanuck
CCanuck's picture

Uncle Warren wants to, he said so, on TV..I saw it.


Thu, 07/24/2014 - 17:11 | 5000471 insanelysane
insanelysane's picture

Why do I get the feeling that before the decade is out we will see a story about the Obamas sheltering money from their books and speeches income???

Thu, 07/24/2014 - 17:11 | 5000477 LetsGetPhysical
LetsGetPhysical's picture

So are you going to give back all those campaign donations from companies that "inverted"? *crickets*

Thu, 07/24/2014 - 17:13 | 5000481 SpanishGoop
SpanishGoop's picture

"Buy American !"


Fri, 07/25/2014 - 07:31 | 5002740 Lostinfortwalton
Lostinfortwalton's picture

GM? Sacrifice your daughter when she goes over a speed bump and the ignition switch goes off and she has no power steering and brakes. But they are really sorry.

Thu, 07/24/2014 - 17:20 | 5000523 gcjohns1971
gcjohns1971's picture

Politics is the fiction that circulating your paycheck through a collection of middle-men before you get it, will make it grow.

Campaigning is the art of telling both you and your neighbor that each will receive their neighbors wealth and getting both of them to believe it a profitable arrangement.

Thu, 07/24/2014 - 17:22 | 5000544 gcjohns1971
gcjohns1971's picture


(Translation: GIMME YOUR WALLET!)


The main difference between a politician and a mugger is the price of their suits.

Thu, 07/24/2014 - 17:24 | 5000560 Raging Debate
Raging Debate's picture

The horse already left the barn but election season's here so got to act like he cares. What a dirty world this can be at times.

Thu, 07/24/2014 - 17:36 | 5000669 Winston Churchill
Winston Churchill's picture

That horse is across the meadow already.

A lot of the multinationals are already re-nogitiating their $ contracts in

currencies outside the dollar . If those reports are true, nothing ties them to

the US anymore, so why would they base here.

The water is receding way offshore , something really bad comes next.

Thu, 07/24/2014 - 17:29 | 5000598 gcjohns1971
gcjohns1971's picture

When bankers and salesmen breed you end up with someone who can sell the world on the idea that money is a barbarous relic to be sold, and paper of arbitrary value is its inevitable replacement.

Thu, 07/24/2014 - 17:28 | 5000604 Roanman
Roanman's picture

I'm thinking that employees of the Federal government everywhere should set the proper example here by eschewing all deductions from their federal income taxes.

Thu, 07/24/2014 - 17:33 | 5000631 gcjohns1971
gcjohns1971's picture

Since under FACTA our wealth can't leave the plantation,

And under the State Dept we ourselves can't leave,

And by inflation our tax-debts have already grown to multiples of our earnings,

Will they tie us and our descendants to the land so that we may pay with our labor?


Hopefully someone will pass a message to Hayek in the Great Beyond:

"You were right."

"We have arrived."

Thu, 07/24/2014 - 17:42 | 5000677 snr-moment
snr-moment's picture

#4  Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.

Gregory v. Helvering, 69 F.2d 809, 810 (2d Cir. 1934)      Judge Learned Hand


As opposed to Pesident Rosy Palm.

Also, if paying minimal taxes is unpatriotic, what is putting the country an extra 7 trillion in debt called?

Thu, 07/24/2014 - 17:39 | 5000694 p00k1e
p00k1e's picture

Show your "Economic Patriotism" turn in your nutty 'Economic Terrorist" uncle hoarding gold.... and bullets; get a free I-Phone 17.

Thu, 07/24/2014 - 17:40 | 5000696 Itchy and Scratchy
Itchy and Scratchy's picture

The Nobel Kenyan mensa choom dude got it wrong again! First yur suppose to TAX  & then yur supposed to SPEND! Not the other way around ya' maroon!

Thu, 07/24/2014 - 17:47 | 5000744 CCanuck
CCanuck's picture

+1 Itchy

However a small correction.

The Nobel Kenyan menstral choom dudette got it wrong again!


Thu, 07/24/2014 - 17:50 | 5000736 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Businesses paying taxes, corporations or otherwise is flat out lie. The customer always pays business taxes because the tax liability is baked into the price of whatever good or service they are selling in almost all cases.

Unless you own the business like a small sole proprietorship where the revenue is your income business never pays taxes, it is passed onto the consumer like every cost to involved in producing a good or service. Incorporate yourself as a labor provider service and take advantage of the tax laws. It is not like they want to pay you healthcare benefits in this environment anyways. It gets around the Obamacare problem for hiring.

Thu, 07/24/2014 - 17:57 | 5000815 Nevsky
Thu, 07/24/2014 - 17:59 | 5000841 darteaus
darteaus's picture

"Anyone who walks out of this re-education camp before I can finish closing the door is unpatriotic!"

Thu, 07/24/2014 - 18:11 | 5000920 Itchy and Scratchy
Itchy and Scratchy's picture

The Kenyan's new rule: Yur supposed to pay tax to me on the stuff you didn't build! Or else!

Thu, 07/24/2014 - 20:15 | 5001547 Beowulf55
Beowulf55's picture

Bitch, bitch, bitch...........this is all I hear.  You wanna end this shit and shake this rat from you neck?  STOP FEEDING THE FUCKING BEAST!  I really don't see their gun toting thugs working for IOU's.

Make next April 15 a real independence day to remember.  I bet more people talking like me will make the NSA nervous............hmmmm....maybe this is why the Homeland fags bought 2 billion rounds of ammo.


Who will be the hundreth monkey?

Thu, 07/24/2014 - 20:17 | 5001573 Tulpa
Tulpa's picture

Corporate tax inversions: wrong

Allocating an extra helicopter for the B.O. family dog to fly to Martha's Vineyard at taxpayer expense:  right

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