Obama to Africa: Don't Imitate Me
By David Henderson
In his speech yesterday in Ghana, President Obama said, among other things:
No business wants to invest in a place where the government skims 20 percent off the top.
But what America will do is increase assistance for responsible individuals and responsible institutions, with a focus on supporting good governance . . . protecting whistle-blowers to advance transparency and accountability.
Of course, Obama presides over a government that skims much more than 20 percent of net business income and he has done nothing to cut this percent. Maybe he would argue that the difference is that this is not off the top–that it is not a tax on gross revenue.
And just last month Obama fired an inspector general who uncovered the corruption of one of his political allies, the mayor of Sacramento.
The problem is that although much of Obama’s advice was good, it’s not credible coming from a man who doesn’t follow it.