RoJo: "Americans Better Off" When Apple Sets-Up Phony Overseas Offices to Evade U.S. Taxes
http://www.uppitywis.org/blogarticle/rojo-americans-better-when-apple-sets-phony-overseas-offices-eva
RoJo: "Americans Better Off" When Apple Sets-Up Phony Overseas Offices to Evade U.S. Taxes
In the past, Senator Ron Johnson has argued about how really, really great it is for America when U.S. companies outsource jobs overseas, but now he really has outdone himself: Now he thinks its really, really great when U.S. companies set-up phony offices in countries with low-corporate taxes to avoid paying U.S. taxes.
In other words, not only can U.S. companies make their products overseas, they don't have to pay taxes on the outrageous profits they make from paying workers pennies an hour in their Chinese "suicide net" sweatshops.
In fact, Johnson's idea (which drew laughter from committee gallery) is to abandon the whole U.S. corporate tax and just tax the individual shareholder's income. Johnson's theory is that with less money spent on taxes, there will be more profits paid to shareholders and that will make-up for the lost corporate tax revenue. Nevermind, that the shareholder's income is taxed at just 20% and the corporate tax is 35% or that tax-emempt shareholders such as pension funds or overseas investors aren't taxed individually or that individuals ability to evade paying taxes is directly proportional to their wealth (see Mitt Romney routing his income to the Caymen Islands) or that its much easier for the IRS to focus in on one company rather than than go after thousands of individual share holders.
The truth is that Ron Johnson knows better. The truth is that he doesn't think Apple or anyone should pay taxes, because he thinks tax dollars only feed the evil government beast. His recent comments about wanting to "slay the beast" and chastising Republican colleagues for wanting to restore trust in the government have said as much. As Jon Stewart perfectly articulated, there is no reasoning with somebody about how to make the trains run on time, when their only reply is that we shouldn't have trains: Pretend America is a successful railroad company that's fallen on some hard fiscal times. There's an argument within the company about whether to make some changes to the dining car offerings, maybe cut fares for less wealthy riders, or... on the other side of the argument: Whether trains are steel beasts that Stalin invented to kill freedom and Martha Washington.
And the teabaggers ousted Russ Feingold for this POS.
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