Category Archives: Republican Priorities

Now YOU’RE Paying For Corporate America’s Meals

When the Hell is Enough Enough?

Republicans fought long and hard to get the 35% statutory corporate tax rate lowered. They claimed it made U.S. companies less competitive than their foreign counterparts. At the same time, Republicans KNEW that corporate effective tax rates averaged much less.

In 2016, the Senate Budget Committee’s Ranking Member received a report from the GAO on effective tax rates. The GAO report, using tax years 2006-2012, found:

cash and cigarsThe statutory tax rate on net corporate income ranges from 15 to 35 percent, depending on the amount of income earned. For tax years 2008 to 2012, profitable large U.S. corporations paid, on average, U.S. federal income taxes amounting to about 14 percent of the pretax net income that they reported in their financial statements (for those entities included in their tax returns). When foreign and state and local income taxes are included, the average ETR across all of those years increases to just over 22 percent.

Insanity is… well, you know.

Even so, the GOP majority got their way in 2017, rewarding those big-money donors at the expense of American taxpayers. In 2019, a report from ITEP (Institute on Taxation and Economic Policy), Corporate Tax Avoidance in the First Year of the Trump Tax Law found:

TCJAWhen drafting the tax law, lawmakers could have eliminated special breaks and loopholes in the corporate tax to offset the cost of reducing the statutory rate. Instead, the new law introduced many new breaks and loopholes, though it eliminated some old ones.

Key Findings:

pigs at the troughThe 379 profitable corporations identified in this study paid an effective federal income tax rate of 11.3 percent on their 2018 income, slightly more than half the statutory 21 percent tax rate.

91 corporations did not pay federal income taxes on their 2018 U.S. income. These corporations include Amazon, Chevron, Halliburton and IBM. An ITEP study released in April 2019 examined 2018 Fortune 500 filings released to date and found 60 companies paid zero in federal income taxes. Now, all companies have released their 2018 financial filings, and this report reflects that.

Another 56 companies paid effective tax rates between 0 percent and 5 percent on their 2018 income. Their average effective tax rate was 2.2 percent.

Now, instead of the mere 27 companies paying no income taxes in 2015, we’ve jumped to at least 91 companies avoiding taxes in 2018.

Feeding Corporate Pigs

Fast Forward to 2020. A raging pandemic, over 300,000 U.S. deaths, huge job losses, people facing evictions or losing their homes, and THIS is what Trump and Republicans insisted be part of the latest COVID Relief Plan:

feeding corporate pigsCorporations will now be able to deduct 100% of the cost of “business meals”.

Paying 50% of their meals was obviously too burdensome, so Americans will pay even more now to prop up our so-called “self-made” corporate Americans. We already subsidize their

          • Operating Expenses

          • Employee Expenses

          • Insurance

          • Travel

          • Bad Debts

          • Interest

          • Equipment

          • Taxes

          • Professional Services

          • Advertising

Not to mention yachts, planes, second homes…

Now we can feed them, too.

Meanwhile, working families are struggling to put food on their own tables. Republicans are vile, despicable people who’ve never given a rat’s ass about America.

Clipart-Of-A-Red-Rose

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Filed under Congress, Corporate Greed, COVID-19, covid-19 relief package, Economy, Frontline Workers, Politics, relief package corruption, Republican Priorities, Republicans, stimulus, Taxes, Trump

Republican Priorities Idaho: School Gun Classes

RP Idaho

Republican Priorities in Idaho: GUNS!

ron_nateAs we know, Republican priorities are strange things. Idaho Rep. Ron Nate believes that his state, ranked 48th in education, should make gun safety classes a priority.

Idaho Ed News reports:

“Safety and prevention are always a priority,” Nate said. “In an era where gun ownership is increasing, we do see in the news more and more cases of active shooter situations and incidental accidents with firearms. It is a responsibility of ours to educate children as best we can for firearms and firearm safety.” Nate’s bill states “trustees may adopt an elective course of instruction developed by the Department of Fish and Game, a law enforcement agency or a firearms association as its firearms safety education course.”

Odd Coincidence

One interesting aspect of the bill: The above listed instruction meets the state’s requirements for a concealed carry permit:

(9)  The sheriff may require the applicant to demonstrate familiarity with a firearm and must accept any one (1) of the following as evidence of the applicant’s familiarity with a firearm:
(a)  Completion of any hunter education or hunter safety course approved by the department of fish and game or a similar agency of another state;
(b)  Completion of any national rifle association firearms safety or training course
(c)  Completion of any firearms safety or training course… available to the general public offered by a law enforcement agency… or public institution… utilizing instructors certified by the national rifle association or the Idaho state police…
 
So taxpayers, gun supporters or not, will foot the bill to groom students for concealed carry, as well as firearms use.
 

Gun Proficient But Under-Educated

Does Idaho’s public school system have the money to teach gun safety? Hardly. Maybe they figure it will keep the 52% of Idaho students who don’t go on to college, from accidentally shooting someone while carrying at their fast food jobs.
 
Idaho currently ranks 48th in per-pupil spending. Despite the economy rebounding, the state still spends less on education than it did in 2009:
 
Idaho ed 2001-2016
 
In addition, Idaho students’ overall proficiency rates for the 2015-2016 school year were:
Math 24.4%
Science 30.6%
English 33.5%
 
Is firearms training really the priority for Idaho Republicans?
Clipart-Of-A-Red-Rose
 
end up with trump
 

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Filed under Education, Guns, Idaho, Politics, Republican Priorities