From a (slightly gushing) news report of President Obama’s speech in Ghana.
One evil he came here to fight is the pernicious mix of greed, famine and war that has kept Africa down. He delivered a blunt message that from his predecessors might not have been received the same way. Instead, it was cast by aides as hard truths from a loving cousin.
“No country is going to create wealth if its leaders exploit the economy to enrich themselves, or police can be bought off by drug traffickers,” he said. “No business wants to invest in a place where the government skims 20 percent off the top, or the head of the port authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy, that is tyranny, and now is the time for it to end.”
Has something changed? Does not the US government skim more than 20% off the profits of businesses? Is the President suggesting that the income tax should not be higher than 20%? The government skims 14% just in FICA/medicare for crying out loud, then ranges up to a 39% (if they have their way) marginal tax rate. My personal effective tax rate is nearly 50%!
I would like some clarification. Either this was a mistake, he (or his teleprompter) thinks we’re all stupid, he’s lying, or his policies have significantly changed.
I know which one I think it is.
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