How to Protect Yourself From Obamacare

[we vs us]

In 2008, Boeing Corp made $2.7billion in net revenue.  As much as I'd like to feel sorry for their one time $150mil tax hit (in the first quarter only, no less!) I'll refrain from too much self-flagellation. 

[Conan71]

The Wal-Mart Market by my house probably brought in thousands of dollars in cash yesterday.  That's still not a good reason for me to go in there and demand a portion of it. 

[Gaspar]

All part of the revenge upon success and punishment of excess platform.

Hopey Changey 

[Townsend]

Hopey Changey 

Gah, you just quotey palins

[joiei]

In 2008, Boeing Corp made $2.7billion in net revenue.  As much as I'd like to feel sorry for their one time $150mil tax hit (in the first quarter only, no less!) I'll refrain from too much self-flagellation. 

according to Boeing's 2009 annual report, the company paid no federal income tax in 2009 and actually received $132 million back from the IRS. And in 2008, Boeing paid just $44 million in federal income taxes while netting $2.7 billion in earnings that year.

http://thinkprogress.org/2010/03/31/boeing-tax-break/

[Conan71]

And what is one of the most cited benefits of corporate tax breaks on local, state, and national levels (property and income)?

Job creation and retention.  Kind of a Catch 22 if you ask me.  There's probably some who complain about corporate welfare who owe the existence of their job to it.  I'm not saying right wrong or otherwise on corp welfare, just that there are some people who complain loudly about it who might unwittingly have a job because of it.

I do disagree however, with the idea that just because someone or some entity has a pile of cash, it should be plundered simply because it exists.

[nathanm]

The Wal-Mart Market by my house probably brought in thousands of dollars in cash yesterday.  That's still not a good reason for me to go in there and demand a portion of it. 

The same could be said about Boeing or Wal-Mart taking government money and then deducting it from their taxes. "That we were stupid enough to give you this money is no good reason for you to demand to keep taking money from me." See, it works both ways.

[Gaspar]

http://thinkprogress.org/2010/03/31/boeing-tax-break/

That's not true. 

They did receive credits, but that only dropped their effective rate to 22.9%.  They owed deferred taxes of $457 million.  Their total income tax expense was $396 million.  These shifts were artfully made by hundreds of large publicly traded companies to weather the market drop.

Don't demonize companies like Boeing because they turn a profit.  The owners of such companies are you and me.  My father owns Boeing.  The little old lady down the street is an owner. 

I own Boeing and I want them to make as much damn money as possible.  I want them to spend the most money hiring the smartest damn CEO.  I want him to buy big luxury sail-boats and smoke fancy cigars.  The moment he stops making us money, we will send him packing.

[we vs us]

No one's hostile to the idea of profit.  But I'm not into allowing Boeing to prosper by avoiding paying its share. 

[Conan71]

So what percent tax on net income would you consider fair?

It's always about fairness with you libs, isn't it?

[Red Arrow]

In 2008, Boeing Corp made $2.7billion in net revenue.  As much as I'd like to feel sorry for their one time $150mil tax hit (in the first quarter only, no less!) I'll refrain from too much self-flagellation.  

Big company generates big numbers
2.7B net income / 60.9B revenue = about 4.4%

How would you feel about
Mom's Grocery Store  (fictitious)
$2,700 net income on  $60,900 revenue
?

[Conan71]

Big company generates big numbers
2.7B net income / 60.9 revenue = about 4.4%

How would you feel about
Mom's Grocery Store  (fictitious)
$2,700 net income on  $60,900 revenue
?

That is one thing dims/libs never seem to get. It's got nothing to do with percentages, it's always about the stack of cash in the corner of the room. It's a large stack, so it's worth justifying going after it.  It's as if companies like Boeing don't add a value to the economy, nor create jobs (or employ 100's of 1000's), nor play a crucial role in our transportation  industry which helps other industries nor the thousands of small businesses which exist because Boeing needs suppliers, nor the businesses which exist due to Boeing employees having good income to spend with them. These are the quality jobs we all claim to want. So why the punitive attitude?   

[nathanm]

So why the punitive attitude?   

Since when is closing tax loopholes punitive?

[guido911]

Here is how an alleged (can't verify) urologist is protecting himself:



http://jammiewearingfool.blogspot.com/2010/04/urologist-tells-obama-voters-to-piss.html

[guido911]

The dems are retooling their message on HCR.

Key White House allies are dramatically shifting their attempts to defend health care legislation, abandoning claims that it will reduce costs and the deficit and instead stressing a promise to "improve it."...The confidential presentation, available in full here and provided to POLITICO by a source on the call, suggests that Democrats are acknowledging the failure of their predictions that the health care legislation would grow more popular after its passage, as its benefits became clear and rhetoric cooled. Instead, the presentation is designed to win over a skeptical public and to defend the legislation — and in particular the individual mandate — from a push for repeal.

http://www.politico.com/blogs/bensmith/0810/The_new_message_Improve_health_care_dont_talk_cost.html?showall

You don't think they over-promised what Obamacare would do?  Nah.