Yes, that title is me making fun of the stupid leftists that think these collectivist scumbags and crooks running our government that bought their support and votes with false promises of free shit they would pay for by slamming the evil rich & productive with higher taxes, and these politicians portend to do so to help the little guy, because they where had again. News is that those big corporations team blue paraded to tell us how higher taxes would actually be good for everyone are leaving a huge chunk of their money where the tax man can not get it. From the article:
U.S.-based nonfinancial companies are parking record amounts of cash abroad, thanks largely to a tax code that encourages them to indefinitely keep profits from their foreign subsidiaries outside of the country.
For example, the Jedi master of avoiding U.S. taxation, General Electric Company (NYSE:GE), increased its tax-free cash accumulation to $108 billion, up from an estimated $94 billion in 2010. Microsoft Corporation (Nasdaq:MSFT) increased its stockpile to $61 billion, up 36 percent from 2011 and up from $30 billion in 2010. Apple Inc. (Nasdaq:AAPL) raised its ante to $40 billion, up 73 percent from 2011.
Sixty of the country’s largest nonfinancial corporations kept $166 billion in cash outside of the U.S. last year, shielding more than 40 percent of their profits from taxes, according to a report in Monday’s Wall Street Journal. And that’s from total overseas earnings of $1.3 trillion, up 15 percent from 2011.
Get the fook out of here! Team Blue’s biggest supporters and the very companies that told us higher taxes where good are parking their money elsewhere to avoid paying said taxes? Who would ever have thunk that?
See these bastards knew that kissing donkey ass would give them the cover, even legally, to do this shit, while their competitors and the other people trying to make it rich without paying the bribes the donkeys demand, would end up getting hammered.
A separate analysis of 83 of the largest nonfinancial corporations found that companies increased by $183 billion their foreign-based cash accumulations, representing a 14.4 percent rise from 2011, according to Bloomberg. Microsoft, Apple and Google Inc. (Nasdaq:GOOG) together hold $134.5 billion in cash abroad.
Heh, yet again. I wonder how many of these 83 corporations are huge team blue players and donors? That is not mentioned tells me most of them, if not all, are. And how could they do this? I mean don’t they believe its patriotic to pay taxes like we keep getting told by team blue?
Unintended consequences my ass. This was from the start another team blue effort to hamstring & kneecap their corporate friend’s competition and rivals. And we the people are going to get had because of it. But you collectivists can keep believing the nanny staters are doing this all to help the little guy. Jeff Immelt, and many other such big wigs in team blue’s pockets, are all running to the bank with their nice bonuses, and all they had to do was kiss Obama’s ass and help the donkeys funnel a huge chunk of tax payer funed change to their pockets. The left are the new robber barons of yore they so love to tell us about.