As conservatives whine and growl over the government trampling the little guy by exercising too much power, perhaps they should take a moment to notice how the Obama administration is going after the fat cats who have raped our country for the past few decades at the expense of the little guy? This week, President Obama discusses two important initiatives that are underway. First, an attempt to put to a stop the tax shelters used by many of our most successful corporations. Some 12,000 US corporations call the Cayman Islands their “home” for tax purposes. It is an outright scam that has been allowed to go on for much too long. You have to pay your taxes and you don’t have anywhere to hide your income. Now it’s time for the big boys to do the same.
The other legislation involves putting a stop to credit card companies making capricious changes to your interest rates and payment terms. Do you know that if you are late paying your electric bill, your credit card company may use that as an excuse to hike your interest rate? The fact is that for the first time in a long time, your government is coming to your defense to protect you against predatory, unfair lenders and towards making everyone pay their fair share of the tax burden.