Government is not a solution to our problem, government is the problem – Ronald Reagan
President Obama just does not get it. Does he know that Goldman Sach’s (GS) provision for income taxes in 2009 was the most that company ever recorded!
Here is the tax provision for GS retrieved from its financial statements (in $ millions):
2009: 6,444
2008 14
2007 6,005
2006 5,023
2005 2,647
Government’s view of the economy could be summed up in a few short phrases. If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. – Ronald Reagan
How many other companies pay as much income tax? There is always Exxon (XOM) but the administration loves to hate XOM as well. It certainly is not the Government Sponsored entities, AIG, Chrysler or General Motors. All of those companies are sucking the life out of successful and profitable corporations.
We need true tax reform that will at least make a start toward restoring for our children the American Dream that wealth is denied to no one, that each individual has the right to fly as high as his strength and ability will take him. . . . But we cannot have such reform while our tax policy is engineered by people who view the tax as a means of achieving changes in our social structure. – Ronald Reagan
Martin Luther King started a social dream. Ronald Reagan started an economic dream. Obama is destroying both.
At the time of this Blog entry Scott Rothbort, his family and or
clients of LakeView Asset Management, LLC was long shares of GS ---
although positions can change at any time.
For more information on investing with LakeView Asset Management, LLC please visit the company's website
Posted By Scott Rothbort at January 21, 2010
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