I have continually showed how the tax system under Clinton made was more fiscally responsible while maintaining healthy and steady economic growth. I see no point in posting it again because I already know the same standard responses I am going to get. It was the GOP congress that really gets the credit, Clinton was benefiting from tax revenues from increased investment spurred by the Reagan/Bush years, blah blah blah....the numbers don't lie though. Over the last 30 years, deficits have soared under every republican administration and then they tell us they are the party of fiscal responsibility.
Of course companies are going to relocate businesses to China or Bangladesh for tax breaks and cheap labor. The fact still remains that those countries don't give two sh!ts about their people, and have developed a system of sweat shops and glorified slave labor to spur economic growth. The conditions of the working class there are abysmal, and it has created some sort of economical smoke screen of a neo-capitalistic utopia where the masses are kept in check by communist government control, depriving liberty at the cost of basic human rights. The elite and government officials get all the prosperity while everyobdy else suffers. History tells us a lot here, and reading about similar fundamental Friedimite experiments that were conducted in Argentina and Chile in the 70's and 80's under the umbrella of tyrannical government control had disasterous effects. Similarly, in such cases, American business went in and took advantage and created an economic wasteland out of the country, while the few benefited at disproportionate levels.
Pure capitalism, like pure socialism, doesn't work. History has shown time and again, a system where the vast majority of the wealth is controlled by the few ferments revolution and economic collapse. Just the same way where everybody is equal stiffles innovation and and facilitates economic collapse. I'm in favor of where the corporate taxes are now, and increasing taxes for companies shipping jobs overseas where their tax rate will be equal to what it would have been to keep the jobs here. Our system works for the wealthy and the working class, that is undisputable, and should remain that way.
I don't agree with everything Obama has done, for sure, but harping on the disasterous budgetary effects of his more socialist policies while ignoring the disasterous effects of the more capitalistic policies is dishonest at best.