Obama Speaks Out Against High Taxes In Ghana, Africa

Proof  •  July 13, 2009

Here’s some wisdom President Obama imparted to the folks of Ghana:

No business wants to invest in a place where the government skims 20 percent off the top.

For the record, the current average corporate tax rate for combined state and federal taxes is 39.3%. That’s a rate second only to Japan’s, though it’s worth noting that a full 24 states have a combined state and federal corporate income tax rate that’s higher than Japan’s.
Anyway, perhaps we can convince Obama that’s what’s good for Ghana is good for America. Here, we wish the government was only skimming 20% off the top.

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  • http://www.dartemis.net/blog/ sayanything-42

    RA,

    Again, FO&D.

  • Mark

    Just another example that Obama doesn’t have a clue!

  • http://www.dartemis.net/blog/ sayanything-42

    Heh.

    Only 20% off the top? Where do we apply?

  • robert108

    It’s a fact of economic history that, when tax rates get above 20%, people start hiding their money.

  • http://SayAnythingBlog.com The_Whistler_ofnd

    I wonder how many of the producers fled Ghana and how responsible that is for their poverty, $1,582 in PPP.

  • SigFan

    20% flat-tax would be the greatest thing to happen to American business and citizens. The government would get huge boosts in revenues, the people would get to keep a significant amount of their income currntly being confiscated, and it would level the playing field across all income brackets. All reasons why our “elected” leaders won’t go for it.

  • Brent

    No business wants to invest in a place where the government skims 20 percent off the top.

    Right. But who knew Ghana had such low tax rates?

  • RC

    ^^Excessive taxation = corruption.

    I am glad Rob caught this because the first thing that went through my mind when the Prez mentioned “skimming 20% off the top” was our own corporate, individual income, and property taxes.

    I can’t believe his speechwriters and teleprompter scripters let this comment in in light of the war on personal freedom and prosperity that he and congress have declared on US citizens.

  • Seth

    I’m fairly sure he’s talking about corruption, not taxes. Which actually makes the comment worse, because under that interpretation Obama doesn’t see anything at all wrong with government taxing at a high rate.

    He just sees an issue with government officials competing for a cut, you see.

  • FlyOnTheWall

    No business wants to invest in a place where the government skims 20 percent off the top.

    For the record, the current average corporate tax rate for combined state and federal taxes is 39.3%.

    Rob, Rob, Rob. What Obama meant was that 20% is bad and obviously so but 39.3% is just right.

  • http://sayanythingblog.com robport

    Right. If Ghana is only taking 20% off the top, maybe a lot of American business would like to invest there.

    It’s a better deal than America right now. At least as far as taxes.

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