Douchebag says what?

One of the biggest idiots and a chief architect of Obama’s campaign to turn America into a banana republic, again shows he is a fucking moron:

(Weekly Standard) Senate majority leader Harry Reid says that “Everybody” is “willing to pay more” taxes. He said so in an interview with a Nevada Public Radio host.

“The only people who feel there shouldn’t be more coming in to the federal government from the rich people are the Republicans in the Congress,” Reid told the radio host, according to Roll Call. “Everybody else, including the rich people, are willing to pay more. They want to pay more.”

I would like to use two of the most left leaning entities out there as examples, and a reference to quite a few others, to discredit this idiot’s bullshit.

U.S. Senate scrutiny of Apple Inc. (AAPL)’s tax strategies turned the spotlight on a unit with $30 billion in profit since 2009 that’s incorporated in Ireland, controlled by a board in California, and doesn’t pay taxes in either place. Apple officials acknowledged yesterday at a congressional hearing that the entity — a key subsidiary in Apple’s offshore tax strategy — is managed and controlled in the U.S., yet it still isn’t paying U.S. federal income taxes.

The shifting of profits by multinational companies is costing the U.S. and Europe at least $100 billion per year in lost tax revenue, according to Kimberly Clausing, an economics professor at Reed University in Portland, Oregon. “Over the decades, Congress and governments around the world have allowed a system to develop which allows multinational companies to earn income tax-free by using contracts to shift the income, on paper, to companies in low-and zero-tax countries,” said Michael Durst, a retired international tax attorney based in Washington. The result “is eroding public confidence in the fairness of tax systems in the United States and around the world.”

Similar practices by an assortment of companies — from Google Inc. (GOOG), owner of the world’s most popular Internet search engine, to Forest Laboratories Inc. (FRX), the maker of antidepressant drug Lexapro — are drawing increased scrutiny from regulators in the U.S. and around the world, particularly as European nations face a backlash against austerity measures.

Apple and Google are but two of these entities that do not feel any obligation to pay their taxes. Another big one is GE, a company whose CEO, Jeffery Immelt, was a key member of the Obama cabinet, and masterful at not paying more taxes like that idiot Reid claims all lefties do. I bet you Immelt, like the hard core left leaning top men at Google and Apple to go back to those examples, all pay top dollar to their personal accountants to avoid onerous taxes, too.

And if you think the problem is with me pointing to evil korporashuns to make that asshat look like the idiot he is, let me talk about some of these people on the left that Reid says are all ready to pay more taxes. Let’s start with our illustrious SEC State John Kerry, whom parked his yacht in another state to avoid paying taxes. Then there is Timmy Geithner, another Obama stud, whom just chose not to pay a good chunk of his taxes at all! I am also sure no democrat uses an accountant to prepare their taxes, just filing a 1040EZ, without any deductions, because, as Reid says, they are quite happy to send more of their money to Uncle Sam for the bureaucracy to burn up. I wonder if Reid and other prominent democrats make their returns public so we can see them all paying more in taxes. Or maybe not.

Hey douchebag, if you really want others to pay more, lead by example. There already is a way to make sure people like you can pay as much as they want: just go here. Then publish them returns. Until then shut the fuck up you hypocritical cock gobbling bastard. Fuck these crooks with their hands in our wallets are just despicable. Cut the fucking spending on the bloated vote buying bureaucracy instead.

Comments are closed.

  1. Seattle Outcast

    I’m quite willing to pay a lot less in taxes. Mainly because the government wastes most of it either by being hideously inefficient or engaging in activities that it has no business being in.

    Contributing to a black hole of slush fund managed by career criminals (politicians) is a losing game for everyone.

    Thumb up 6

  2. richtaylor365

    A few basic facts need repeating for emphasis, corporations are formed to make money for their share holders, that is where their allegiance lies and as a share holder I would expect them to maximize earnings and minimize tax exposure, every dollar paid in taxes is one less dollar of profit.

    Apple and Google are but two of these entities that do not feel any obligation to pay their taxes.

    Alex, you are falling for that liberal propaganda designed solely to incite class warfare and give them more legitimacy in raising taxes. This notion that American corporations do not pay their fair share is total horseshit;

    http://online.wsj.com/news/articles/SB10001424052702303902404579152271744452490

    It is a real short read and puts a knife in the heart of this liberal lie.

    Let’s say is all in unison ,”Taxed Enough Already”, a global economy exists out there and if we want to compete we must be competitive and that goes for a competitive corporate tax rate. If you want American businesses to succeed (and hire more people in the process) then don’t bash them over the head (with high taxes) for succeeding. It really is that simple.

    Thumb up 1

  3. AlexInCT *

    Alex, you are falling for that liberal propaganda designed solely to incite class warfare and give them more legitimacy in raising taxes

    Actually Rich, I was directing that comment at Harry “douchebag” Reid which told us that everyone but the evil rich and rethuglicans want to pay more taxes. Nobody wants to pay more taxes. Period. I know that. Not even fucking Harry “douchebag” Reid wants to do that. And any asshole claiming otherwise needs to be ridiculed. If you really are demented enough to believe giving more money to the shitbags in DC that piss it all away is a good deal, I provided a link for idiots to voluntarily piss away their money.

    This notion that American corporations do not pay their fair share is total horseshit.

    I am fully aware of that too Rich. Note that I linked to articles that while acting pissed off made it very clear that this was all legal. In fact, American corporations are getting fucked over by the highest corporate tax system in the world. And the fucking progressives do not understand korporashuns never pay taxes: the consumers that pays for their product or services, does the paying. Again, my comment was directed at Harry “douchebag” Reid’s ludicrous comment that everyone but evil rich people and rethuglicans want to pay more.

    My post was about showing how big of a liar this douchebag was. I guess I didn’t do that well. The only people that like wealth redistribution scams are the politicians that gain power and money, and the assholes that get free shit. Anyone paying up will try to keep as much of their money as they can, most of us except for the progtard politicians that feel these laws they make do not apply to them it looks like, doing so within the law.

    Thumb up 1

  4. richtaylor365

    I guess I didn’t do that well.

    I’m sure the confusion was on my part, no worries. But back to Reid’s comments, a few more of those (Where is Biden, somebody shove a microphone in front of him) and the folks may start hating the Dems as much as they hate the GOP, a awfully low bar they set for themselves, putzes.

    Thumb up 1

  5. richtaylor365

    Those sneaky bastards, I’ll paste it here;

    Our readers know that the statutory U.S. corporate tax rate of 35% (plus another 4.1% average state rate) is the highest among developed nations. Yet the myth persists that most American companies somehow pay little or no tax. Now comes a new study showing that the tax burden is as punitive as advertised.

    The tax evasion fable got new legs in July when the Government Accountability Office released a study concluding that the effective U.S. corporate tax rate is only 12.6%. The effective rate is what corporations actually pay after deductions and credits.

    The Washington Post, WPO +1.97% CNN, Bloomberg and others jumped on the story and seemed to ask the same question: What are American companies complaining about? Senator Carl Levin, a one-man wrecking crew of American job creation, declared that the GAO study proved that “America’s large, profitable corporations are now paying a lower tax rate than our teachers and firefighters.”

    Except it appears that the GAO researchers were off by a statistical mile. Andrew Lyon, an international tax expert at PricewaterhouseCoopers, writes in the academic journal Tax Notes this month that GAO didn’t count all corporate taxes paid.

    Another blunder was that the research examined only one year of data, 2010. Mr. Lyon finds that this produced “unrepresentative results” because 2010 “follows the severe 2007-2009 recession.” In 2010 corporate taxes fell to their lowest level in many years due to write-offs from prior year losses.

    Mr. Lyon used GAO’s model but extended the analysis over a more representative period of years, 2004-2010. He also counted all taxes paid world-wide, including foreign, state and local taxes. His conclusion: “The effective tax rate based on worldwide current tax payments for all U.S. corporations exceeded 35 percent for the 2004-2010 period.”

    His findings are in line with many other studies. The Tax Foundation found in 2011 that the effective tax rate on new corporate investment in the U.S. is 29.8% versus 22.4% among America’s rivals.

    It is true that some companies pay a lower effective rate, and some industries are taxed less than others. We’ve written about Whirlpool WHR -0.73% and other companies that have taken advantage of green-energy subsidies to pay a lower rate in some years.

    But these exceptions to the general high-tax American rule aren’t the result of corporate scheming. They are the consequence of deliberate tax favors promoted by the likes of Carl Levin and his Washington mates. Mr. Levin wants it both ways: Take political credit and campaign cash for passing tax favors, but then demagogue companies for exploiting those favors. One goal of tax reform is to reduce this political mediation in the cause of fairness and economic growth, but Mr. Levin doesn’t want to give up his power.

    The Tax Foundation reports that since 1997 31 of 34 leading economies have cut their corporate tax rates to attract jobs and capital. They must know something that Congress doesn’t, because the U.S. is one of the three laggards. The other two are Chile and Norway. Every year that the U.S. fails to reform its tax code, America becomes less competitive and more jobs are put at risk.

    Thumb up 2

  6. CM

    Thanks Rich. I see it includes tax paid overseas. Isn’t “This notion that American corporations do not pay their fair share is total horseshit” about the fact that they don’t pay it in the US? Also the piece notes that “some companies pay a lower effective rate” – isn’t this also the criticism?
    We dropped ours from 33% to 28% to try and stop companies moving to Australia. I certainly favour a low corporate tax rate (20% has a nice ring to it).

    Thumb up 0

  7. AlexInCT *

    We dropped ours from 33% to 28% to try and stop companies moving to Australia. I certainly favour a low corporate tax rate (20% has a nice ring to it).

    You are less crazy than our pols then CM. And again: korporashuns don’t pay taxes: we the consumers do.

    Thumb up 1

  8. CM

    Well the companies get to decide who pays it ultimately. Because there is always unemployment they could just as easily decide not increase wages at the bottom (when they would have otherwise). Either way, the economy doesn’t grow.

    Thumb up 0

  9. richtaylor365

    Isn’t “This notion that American corporations do not pay their fair share is total horseshit” about the fact that they don’t pay it in the US?

    The author factors in “all taxes paid”, this includes foreign, US, State, and local. If the complaint is that the percentages of this total that is kept here at home is too low, then the simple solution would be to make the tax environment here at home more business friendly.

    Also the piece notes that “some companies pay a lower effective rate” – isn’t this also the criticism?

    All companies will have a “lower effective tax rate” because ALL companies will use write offs, deductions or credits to lower their rate from the standard corporate rate. If the complaint is that some industries are taxed differently from others or that some companies gets subsidized because of green energy credits, then by all means lets even the playing field. But as the piece mentions, every company will have a different tax liability every year because their deductions change every year, nothing nefarious going on here.

    We dropped ours from 33% to 28% to try and stop companies moving to Australia. I certainly favour a low corporate tax rate (20% has a nice ring to it).

    20% makes sense to me, and would assure more profits earned by American companies would be kept right here in the US, which would benefit all citizens, more tax revenue for Uncle Sam. But as it stands now, it makes more economic sense for American companies to put their factories and offices overseas in a country that have a lower corporate rate of taxation.

    Thumb up 1

  10. hist_ed

    I think the corporate tax rate should be zero as long as we have a capital gains tax and tax dividends. The owners of corporations pay the taxes through those two. Imagine the businesses that would flock to the US if we eliminated corporate income taxes. They would bring employees whose personal income taxes would flow into the treasury. Their stocks and dividends would increase, bringing in more money to the treasury. US corporations would be able to move foreign held capital into the US, spurring more domestic investments. And corporations would not have to spend shitloads of money monkeying with the tax code to reduce their taxes-yeah we’d have fewer lawyers and accountants employed but it might be the start of a little boom. Somebody tell Obama about my idea, no thanks necessary.

    Thumb up 2

  11. AlexInCT *

    How do politicians that want to pick who wins and who loses as well as use government policy to expand their power and personal wealth profit from all of that however, hist_ed? Because they can’t they will never do it, even if they see that it works. There has been definite proof that lower taxes increase economic growth and results in more income as a whole for government, but the progressive left still sees taxes as a means to punish success – especially of those they don’t like or are envious off – and government regulation in combination with taxes to pick winners & losers. Of course, while picking their winners & losers, they always win.

    Thumb up 2