Fair Share? Even 100% Corp Tax Isn't Enough!!

President Obama and the Democrats in Congress keep saying that U.S. corporations need to “pay their fair share” in order to resolve our national debt problems. They want more revenue a.k.a more TAXES from those evil corporations. And that leads us to the big question: Is our national debt a spending problem or a revenue problem?


Democrats want U.S. companies to pay their “fair share” to close the deficit gap. Ok! Let’s give it the old Democrat try. Let’s really STICK IT to those evil corporations and their Lear jets, tax breaks, etc. Are you ready? Here we go!



Let’s target the biggest U.S.corporations, the ones with annual gross revenues of over $40 billion per year. There are over 60 of these giant corporations in the U.S. (They’re listed below, along with their 2010 profits listed in billions of dollars. )


Remember now, we’re going to force these evil corporations to pay their “fair share”. Let’s not beat around the Bush. Let’s go all the way. Let’s tax their annual net profits at 100%. That’s the kind of fair share that any Democrat would be happy with. How much would a 100% tax on the net profit of these largest companies raise for one year? A whopping $204.8 BILLION dollars!!!


Wow, you’re thinking! $204.8 billion dollars would not only stick it to those corporations, but it would also would pay for everyone's health care, plus feed the poor children, and pay for all those public employee pensions, right? And it would solve our debt ceiling problems, too! That's the fair share President Obama is talking about, right?


There’s just one little problem. Currently, U.S. Government spending outpaces revenues by $118 BILLION per month. That’s right. The U.S. spends $1.4 TRILLION per year more than it receives in revenue. Even if Congress taxed 100% of the annual net profits of every U.S. company with over $40 billion in annual gross revenue, it would pay for less than TWO MONTHS of our monthly deficit of $118 billion per month. Think about that.
 

Even if our largest corporations were taxed the equivalent of 100% of their annual net profits, it still wouldn’t be enough to solve our nation’s debt problem. Clearly, we have a spending problem. And no additional “fair share” of new corporate taxes proposed by Obama and the Democrats will put even a small dent in our national debt.

TOP US COMPANIES (Exceeding $40 Billion in annual revenues)	Profits (billions)
WalMart	$14.3
ExxonMobil	$19.3
Chevron	$10.4
ConocoPhillips	$4.8
General Electric	$11.0
Berkshire Hathaway	$8.0
General Motors	$0.0
Ford Motor Company	$2.7
Hewlett Packard	$7.7
AT&T	$12.5
McKesson Corporation	$1.3
Bank of America	$6.3
Federal Home Loan Mortgage Corporation	-$71.9
Cargill	$0.0
Verizon	$3.6
JP Morgan Chase	$11.7
Koch Industries	$0.0
IBM	$13.4
Cardinal Health	$1.2
CVS Caremark	$3.7
United Health Group	$3.8
Citigroup	-$1.6
Wells Fargo	$12.3
Valero Energy	-$2.0
Kroger	$7.0
Procter & Gamble	$13.4
AmeriSource Bergen	$0.1
American International Group	$0.1
Costco	$1.1
Marathon Oil	$1.5
Walgreens	$2.0
Home Depot	$2.7
Target Corporation	$2.5
Apple Inc.	$5.7
Boeing	$1.3
Microsoft	$14.6
Phillip Morris International	$6.3
Archer Daniels Midland	$1.7
Johnson & Johnson	$12.3
State Farm Insurance	$0.7
Medco Health Solutions	$1.3
WellPoint	$4.7
PepsiCo	$5.9
United Technologies	$3.8
Dell	$1.4
Pfizer	$8.6
Best Buy	$1.3
United Parcel Service	$2.1
Lowe's	$1.8
Lockheed Martin	$3.0
Goldman Sachs	$13.4
Dow Chemical	$0.1
Sears Holdings	$0.2
Intel	$4.3
Caterpillar	$0.9
Chrysler	$0.0
Bunge Limited	$0.4
MetLife	-$2.2
Safeway	-$1.1
SuperValu	$0.4
Kraft Foods	$3.0
Cisco	$6.1
TOTAL	$204.8
Source: http://en.wikipedia.org/wiki/List_of_companies_by_revenue
Source:  http://money.cnn.com/magazines/fortune/global500/2010/full_list/

Never Forget 9/11

Portland Tea Party 9/7/09

See more pictures of this event on my Facebook page.

Liberal Tactics Explained

Obama's High Ethics, Bipartisan Pledges? "So Last Year"

"Not long ago, after a string of especially bad days for the Obama administration, a veteran Democratic pol approached me with a pained look on his face and asked, "Do you think they know what they're doing?"

The question caught me off guard because the man is a well-known Obama supporter. As we talked, I quickly realized his asking suggested his own considerable doubts.

Yes, it's early, but an eerily familiar feeling is spreading across party lines and seeping into the national conversation. It's a nagging doubt about the competency of the White House."

---Michael Goodwin, in the March 15, 2009 Daily News.

I'm Sure The Leftists Are Still Glowing

After watching President Obama's speech tonight, I was left with the bitter aftertaste of disgust. While hubris-laden leftists across the country are surely still chanting Obama's name. . .Obama ho renge kyo...Obama ho renge kyo. . . in their post-speech trances, it is depressing to think about the long term damage the Obama administration is about to unleash on our nation. It doesn't take a village to figure out what will happen to the good old U.S. after it gets hit by the socialist tsunami of nationalized banks, health care, education, mortgages, cars, etc.

California is the canary in the coal mine. And California is dying. With Obama in charge, the U.S. isn't far behind.

They Spent A Trillion Dollars of YOUR Money Without Even Reading The Bill

$9.7 Trillion in Bailouts. Insanity. Insanity. Insanity.

"The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages."

Read the rest at Bloomberg.com.

Stop The Blame Game; Stop Government Reliance

"There is plenty of blame to go around on both sides of the political aisle. But the lesson should be clear that socializing failed businesses -- whether in housing, health care or in Detroit -- is not a long-term solution. Expanding government's intrusion into the private sector doesn't come without great risk. The renewing and self-correcting nature of the private sector is largely lost in the public sector, where accountability is impaired by obfuscation of responsibility, and where special interests benefit even when the public good is ill-served.

George Washington also warned against excessive partisanship, which distracts public councils and enfeebles public administration. Rather than blaming the party in power or the party formerly in power, the nation should stop living in denial of the mistakes of both parties.

Spreading failure across the entire economy risks turning a recession into a depression. Regulatory reform now must foster responsible behavior and financial accountability. Far better for our citizenry and businesses to have a strength and resourcefulness that comes from creativity, honesty and self-reliance than to have a growing dependence on a profligate government."

-Scott S. Powell, senior VP at ELP Capital, telling the nation to return to self reliance and reject the nanny state in an article at Barrons online.

Economic Stimulus- Hole of Debt, or Giant Crippling Crater?

Even with east winds, rain, and cold temperatures, a romp on the empty beaches of the Sandy River with the Mrs. and our dog George W. was the highlight this weekend. The dog, of course, spent half the time sprinting this way and that way. The rest of his activity consisted of digging as many holes as possible in the sand.

The holes our dog created in the sand reminded me of the giant trillion dollar hole our esteemed representatives in Washington D.C. are digging for us. How much is a trillion dollars? Just for comparison, total U.S. war funding since 2001 has been about $900 billion. The Congressional Budget Office has predicted the total U.S. deficit for 2009 would be $1.2 billion- BEFORE adding in the costs of the new stimulus bill. What are our politicians in Washington D.C. doing to us?

What if this pork- barrelled economic bailout doesn't work? A trillion dollars in debt means how many hundreds of billions of dollars in debt service payments over the next 30, 40, 50 years. More money spent on government debt service means less money available for social services, schools, roads, you name it.

And what about the future value of the U.S. dollar? We abandoned the gold standard a long time ago. What happens to the value of every dollar already out there after Congress dumps a trillion NEW dollars of so-called economic stimulus into the economy? Every dollar will lose value.

We're getting screwed. That's the only way to describe what is happening to the U.S. taxpayer. We are getting buried in a huge trillion dollar debt hole so politicians in Washington, D.C. can say they "did something" about the economy. None of them believe this trillion dollar stimulus will actually "stimulate" anything but the 24 hour news cycle.

"We're from the government, and we're here to help". Yeah, right.

The More You Know: Caroline Kennedy

What Did He Know, And When Did He Know It?

(h/t to NW Republican)

The Road To Serfdom

(h/t to NW Republican)

"The Government Ain't Made America Great- Its People Made America Great"

For those of you who believe Barack Obama, John McCain, Congress, or government in general will solve your problems or make your life better, take a look at this video about new home construction in post-Katrina New Orleans.

Young Republicans Look For New Leadership

Young Republicans, Blue About the Prospects Ahead - washingtonpost.com

Beware Of Politicians Who Promise A Free Lunch

Left wing politicians keep trying to push us toward socialism in the form of programs such as regional urban planning and arbitrary urban growth boundaries, universal health care, tax credits for unearned income, tobacco subsidies, dairy subsidies,and carbon cap and trade programs. Many voters in Oregon think all these programs are great ideas. For those of you who think socialism is such a great idea, I have a question for you: Do you know how to catch wild pigs?

You catch wild pigs by finding a suitable place in the woods and putting corn on the ground. The pigs find it and begin to come everyday to eat the free corn. When they are used to coming every day, you put a fence down one side of the place where they are used to coming. When they get used to the fence, they begin to eat the corn again and you put up another side of the fence. They get used to that and start to eat again. You continue until you have all four sides of the fence up with a gate in the last side.

The pigs that are used to the free corn start to come through the gate to eat, and then you slam the gate on them and catch the whole herd. Suddenly the wild pigs have lost their freedom. They run around and around inside the fence, but they are caught. Soon they go back to eating the free corn. They are so used to it that they have forgotten how to forage in the woods for themselves, so they accept their captivity.

Left wing politicians are fighting hard to push us toward socialism and keep spreading the free corn out in the form of programs such as universal health care, tax credits for unearned income, tobacco subsidies, dairy subsidies, and carbon cap and trade programs, while we continue to lose our freedoms - just a little at a time.

Oregon's voters should always remember there is no such thing as a free Lunch!

If you see that all of this wonderful government 'help' is a problem confronting the future of democracy in America, listen closely to politicians running for office this year. Listen closely to what candidates are promising you - just maybe, you will be able to tell who is about to slam the gate on America.

I can't take credit for this story- it was e-mailed to me by an acquaintance, without a source for the author. But the story itself rings true.

"A government big enough to give you everything you want, is big enough to take away everything you have." - - -Thomas Jefferson

Fictitious Funds Foul NY City Council

The New York City Council has appropriated millions in taxpayer dollars in recent years to organizations that did not exist. Fake groups such as "Senior Citizens for Equality", or the "Coalition of Informed Individuals" were created to form slush funds that City Council members could spend as they pleased. According to an April 4 NY Times article, over $17 million dollars were budgeted for dozens of fake groups since 2001.

Amazing. And I thought the '69 Mets were the only amazing things to come out of New York.

Obama Blows Off A Fan's Picture Request

Talk about snappish. Senator Obama perhaps having a bad day, refuses to have his picture taken with a supporter. Says Obama: "I won't be smiling". Once he's away from his adoring masses, I gather he doesn't really care about the little guy. . .

Berkeley Marine Corp Protest Documented

Zombietime.com has a great pictorial and running commentary on this week's Berkeley Marine Corps protests. Check out the Code Pinkers and Pro-Marine Corps demonstrators as they engage in a mini -clash of ideologies.

Rudy Giuliani Says It's Not a Vacuum Cleaner, It's An Air Filter!

Presidential race? What presidential race? You'd think the Democrat and Republican candidates for Prez of the U.S. were actually exchanging cannon fire right here in Oregon. It's the main topic of conversation. But the conversation, and the distant campaign cannon fire, have been going on for so long, it's just noise.

Like the sound of that train that goes through town three miles away. You know the train is noisy, long, heavy, and powerful. You hear it in the distance, but only if you really listen for it, because you're so used to your daily background noise in your own neighborhood.

I've been concentrating my "train watching" on the Sunday morning shows. Meet the Press. This Week. Fox News Sunday. Face the Nation. Did you see Tim Russert on Sunday, making Hillary squirm? And how about Rudy Giuliani's exchange with Chris Wallace on Fox News Sunday?

"WALLACE: But what happened, for instance, in New Hampshire where you did seem to be making an effort in November? You did pour $3 million in advertising into it and then pulled out. Why did you make that decision?

GIULIANI: Well, what happened in New Hampshire is real simple. John McCain won a very good victory. He campaigned there for quite some time. He turned it all around. He won a big victory in New Hampshire.

WALLACE: But why did you pull out in November or December before he won a victory?

GIULIANI: We didn't pull out. We didn't pull out. What we did was we decided -- I can't remember exactly when it was -- January, December -- at some point we decided that we had to put our principal focus on Florida, that that was the best strategy for us, for all the reasons that I pointed out to you."

There must be something in the water at those Sunday talk shows. Every time a Russert or a Wallace asks a politician, "You're a pyramid", the politicians ALWAY respond with, "It's not a pyramid. It's a triangle. It's not a vacuum cleaner. It's an air purification system."

Rudy, baby, you pulled out of New Hampshire, $3 million dollars poorer, with nothing to show for it! It's ok, take it like a man! It's not a vacuum cleaner, it's a humbling admission of defeat!