April 15 is but 10 days away so let us link to this FrugalDad.Com article which claims that the U.S. government loses $100 billion annually to legal offshore tax havens used by corporations and the filthy rich.
The article notes that between 2008 and 2010, 29 of our largest corporation including General Electric, Wells Fargo and Verizon paid nothing in corporate taxes.
It unveiled a scheme used by Google — those caring “don’t be evil” Obama-supporting liberals — called the Double Irish and The Dutch Sandwich in which Google credits its non-U.S. profits to its Irish office then funnels it through a shell company in the Netherlands to tax-free Bermuda.
And it points out that Mitt Romney, who if he should win the GOP nomination and general election would be our richest president since George Washington — yes, GW was rich, has millions stashed in investment funds in the Cayman Islands. It notes that he paid just $3 million in federal taxes in 2011 on investment income of $21 million.
That’s a 14 percent tax rate. If everybody had a 14 percent tax rate cutting taxes wouldn’t be an issue. I wonder if Mitt realizes that not everybody has a 14 percent tax rate.
Come this Pennsylvania Primary Day on April 24 I’m hitting the button for Santorum or Gingrich or maybe even Paul if despair drives me to get really drunk.
But if Romney is the nominee, I’ll crawl over broken glass and through poison ivy to vote for him. Better a competent pawn of Goldman Sachs than the incompetent one we got now who is more of a parody of a sit-com character than a president.
Hey, Mr. President would it be “unprecedented” for the Supreme Court to overturn a law passed by Congress?
The more i see of Barack Obama, the better I like Mitt Romney