The new face of captalist america under President Obama...

Keeping on of the biggest election promises he made, president

Barack Obama has declared to end the tax incentive to those US companies which create jobs overseas and instead provide these incentives to those creating jobs inside the country.

"We will stop letting American companies that create jobs overseas take deductions on their expenses when they do not pay any American taxes on their profits," President said at White House.

Announcing the tax policy reforms, he added that US will use the savings to give tax cuts to companies that are investing in research and development at home in order to create jobs along with promoting innovation and competitiveness of America. These new tax laws will hit countries like India and China as the outsourcing revenues which form a significant part of the economy are bound to be adversely hit.

By announcing this president Obama is contradicting the basic laws on which his country has thrived all these years. America is a capitalist country and capitalism has only one goal, “earn money at all cost”. So are we seeing an America tilting from its basic ideas under president Obama? The answer for this question is a slow yes. Is this a little step towards communalism? At this point we cannot answer this question but definitely there is a huge change in Americas capitalistic principles.