John Bolton

John Bolton

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Monday, May 04, 2009

Obama Lectures on Paying Taxes

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President Barack Obama speaks about tax reform at the White House in Washington May 4, 2009. Flanking Obama are Treasury Secretary Tim Geithner (L) and IRS Commissioner Douglas Shulman (R).

OBAMA: Let's begin with a simple premise: Nobody likes paying taxes, particularly in times of economic stress. But most Americans meet their responsibilities because they understand that it's an obligation of citizenship, necessary to pay the costs of our common defense and our mutual well-being.

And yet, even as most American citizens and businesses meet these responsibilities, there are others who are shirking theirs. And many are aided and abetted by a broken tax system, written by well-connected lobbyists on behalf of well-heeled interests and individuals. It's a tax code full of corporate loopholes that makes it perfectly legal for companies to avoid paying their fair share. It's a tax code that makes it all too easy for a number -- a small number of individuals and companies to abuse overseas tax havens to avoid paying any taxes at all. And it's a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.

How about a slight correction to the above: "Nobody likes paying taxes, particularly members of my cabinet."

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