RUSH: Did you happen to see — there’s a big, exciting news story out there. Did you happen to see where Obama has finally come out and announced he wants to close the border? You didn’t see that? You think I’m making it up, right? It’s so unbelievable. I’m not making it up. Well, let me find it. Our border, he wants to close our border. But not to people coming in. He wants to close the border to American corporations going out, on this tax business.
Walgreens is one example, but American corporations are partnering with overseas corporations and in the process changing the location of corporate headquarters outside the US so as to avoid the highest corporate income tax rate in the world, 35% here in the United States. And when news of this hit, I mean, it’s been going on for awhile, when news of it hit Obama had a patriotic impulse and said it’s outrageous that these businesses should be doing this. They need to come back and need to be paying taxes here. And he defined patriotism as American corporations staying here and paying the 35% tax rate. And American corporations haven’t listened.
It’s happening in greater and greater numbers. In fact, the names of the companies are often changing as part of these mergers. The actual structure and actual ownership isn’t, it’s a paper thing. I mean, Walgreens didn’t sell out. They partnered with and then for tax purposes the name is of the corporation changed to whatever the foreign corporation that partnered with Walgreens is. I don’t mean to hype on Walgreens. It’s just one of the most recent examples.
So Obama is really ticked off about this. He wants to close the border the other way. That is, he wants to close the border to any US corporation that might want to relocate overseas to avoid paying US corporate taxes, the highest in the world. The news here is that Obama does believe in borders when it comes to taxes. Folks, it’s like, why did they build the Berlin Wall? Keep people in. What is it that totalitarian type statists do?
RUSH: I just got an e-mail note. “Rush, you ought to make the connection of Obama not letting corporations out of the country to the Berlin Wall.” I did make that point (sigh), but I’ll do it again. The point that Continetti makes is that when the Berlin Wall came down, Obama was all happy, but he never talked about why it was there. In his mind, why it was there never mattered.
It just materialized out of thin air. Well, what was the Berlin Wall for? It was to keep people in! Totalitarians build walls and enforce their borders like nobody’s business, but to keep people in. So I opened the program today saying, “Have you heard that Obama has changed his mind on border enforcement? He’s gonna close the border.” People said, “No, I haven’t heard that.”
That’s because he is closing the borders to American businesses leaving, and I made the point that this is what statists do. They care about the border to keep people in who want out. What American businesses are doing is they’re partnering with foreign corporations. The foreign corporation assumes ownership on paper, enabling the US corporation to escape the 35% corporate tax rate.
It’s happening more and more, and Obama’s ticked off about it, and he’s demanding they stop and stay here, and so he obviously has come out against people leaving. He now wants to enforce the border.