Report from the Bizarro-State of California – Another Tax Break For Corporations That Are Buying Off Our “Elected Leaders?” – No, It Can’t Be! – Please, Our “Elected Leaders” Do Nothing More Than Sell Themselves Out to the Highest Bidder – Yes, This All Makes Perfect Sense…..NOT!
Report from the Bizarro-State otherwise known as the state of California
Dan Morain of the Sacramento Bee details the behind-the-scenes deal-making in 2009 that led to massive tax break for a handful of companies in California that now has public employee unions trying to repeal the tax break in 2010. If that sounds like the typical circular logic BS that is part and parcel of Government on all levels in the United States then you would be right!
Let’s go to the story…
Secret tax break now faces union effort to end it
“As dead-of-night deals go, the one granting corporations a tax break worth $900 million annually was a stunner.
Gov. Arnold Schwarzenegger and legislators convened no hearings and heard no testimony, except for that offered by corporate lobbyists in private. It was part of a megadeal in February 2009 intended to “solve” last year’s budget crisis.
The crisis, of course, has taken a turn for the worse, but the tax cut remains, set to take effect next year.
California’s budget is in disrepair for many reasons. But the story of the 2009 tax breaks and two others approved in 2008 and the effort to unravel them helps illustrate the mess we’re in.
After being approved in secret, the tax breaks are being challenged in a very California manner. Leaders of the California Teachers Association, fearing more cuts to schools, are offering to reshape tax law, sponsoring Proposition 24, an initiative this November to overturn the tax cuts.
The union that represents most public school teachers in California has shown an ability to spend tens of millions on campaigns to get its way. This time, the teachers are facing a formidable coalition of corporations and business organizations.”
Oh, this story is starting to sound very familiar to anyone that has followed the actions of the Buffoons in Sacramento that masquerade as the “Elected and Appointed Leaders” of California! Yes, it makes perfect sense for government to be in the business of encouraging or discouraging individual and business behavior…..NOT! Government should be taxing and raising revenue for one reason and one reason only: To have enough money to fund its essential operations, but then we all know that the US Government has its hands in creating all kinds of disasters in the economy, like the mortgage tax deduction which does nothing more than artificially elevate the price of homes and treat one group of Americans, homeowners, in an unequal way to another, renters. Does that make sense in a country where “All men are created equal?” If you say “Yes” to that question then you truly are a Moron!
Clearly, one of the biggest problems we have in America today are the politicians that live for nothing but giving tax breaks to the SOBs that are stuffing their pockets with money, but then there is a reason that corporations give all that money to politicians….isn’t there?
The Sacramento Bee continues with the madness…
“The breaks would be sweet. Say a company has two good years. It pays taxes, and the state spends the money. Then, say the company loses money. It could use that loss to get a refund on the taxes it paid in the two previous years. That break, amounting to $500 million annually, would force the state to essentially grant retroactive tax refunds.
A few corporations stand to reap huge windfalls. One of the breaks would give companies a direct say over how much they pay in state taxes.
They could base their tax bill on a formula that takes into account their property, payroll and sales within California. Alternatively, they could rely on sales within the state. Their choice, whichever costs less. Corporations could save $900 million a year. But the Franchise Tax Board says nine companies could receive benefits of $20 million or more each, $180 million total, each year.
Another tax break would permit companies and their subsidiaries to share tax credits among themselves. This would save companies $300 million annually in California taxes. But six corporations would gain more than $10 million a year, each, according to the Franchise Tax Board.
In other words, about 15 companies (there could be overlap among beneficiaries) stand to reap $240 million combined.
“The dollar savings for a small number of companies is nothing short of stunning,” said Jean Ross, who has been tracking California’s budget for two decades and directs the liberal Center for Budget Policy.
The amount that companies pay in taxes is confidential. But the companies giving initial funding to defeat the initiative have their reasons, likely that they would be hurt if voters were to approve Proposition 24.”
As we said, this all Makes Just Perfect Sense……if you live in Moron-Ville! The politicians in the State of California are just like the politicians in the US Federal Government, with both nothing more than street whores that will sell their votes to the highest bidder with the American People always taking the shot in the gut. The California Legislature and the US Congress are the best legislative bodies that Money Can Buy and if it means that certain votes and policies will have to be acted on that will send the American People “down the river” then so be it….Yes, this is all makes perfect sense…..
One can only imagine what historians, probably Chinese historians, will make of the United States of America. What will they say about Presidents that tried to use the CIA to influence investigations or Presidents that couldn’t control their own urges or took the United States to war against a country that….DID NOT ATTACK AMERICA? Well, the same could be said for the US Congress and state legislatures that have been captured by corporate and union interests in recent years that do nothing more than pour money down the throats of elected officials that are supposed to representing “The People” but in reality do little more than sell themselves out to the highest bidder. Want a tax break for your company? Well, I could be persuaded to vote for that, if……
Yes, what the Hell will those historians say? They certainly will not say that America had good leaders that actually gave a Damn about serving the People of the United States because these Buffoons on all levels of government in our country have proved time and time again that they don’t give a Damn about anything but themselves which may very will be the epitaph for our country….
“They cared more about themselves than their country.”
As for California, the Golden Broken State is finished and anyone that hasn’t already realized that California is headed to insolvency and bankruptcy and a massive US Government bailout hasn’t been paying attention. There are quickly becoming two types of people in California, the rich/very rich and the poor and the rich/very rich spend millions buying legislators (campaign contributions!) trying to keep their already very high taxes down while the poor are working their asses off and getting it in the gut from both directions while the Buffoons in Sacramento twiddle their thumbs while the state is burning…
Yes, this all makes perfect sense…..