Has the anti-tax crowd lost its mind? Have they totally overplayed their hand? The evidence is growing that the answer is a resounding “YES!”
The latest proof of that occurred in sworn testimony before Congress this week.
It was delivered by Susan Ford, a senior executive at Corning, Inc., which earned almost $3 billion betwen 2008 and 2011.
That’s their headquarters in New York on the left. Nice digs, huh?
With a straight face, she told the House Ways and Means Committee that the United State’s stiff corporate tax rate was putting her company at a competitive disadvantage.
That would be a shame if there was a shred of truth to it.
What suggests it’s a big fat lie is the amount of taxes Corning has paid for those years.
Take a wild guess what that amount is. The answer is below the jump.
Corning has paid ZERO taxes on almost $3 billion in earnings. Actually that’s not true. They also got a $4 million REFUND. So the truth is that Corning has a NEGATIVE tax rate. It’s -0.2 percent. They’re one of 26 American companies that pay no income taxes.
What is Ford complaining about? Seriously. That her company’s not getting a big enough refund for all the taxes THEY DON’T PAY? That Corning deserves a HIGHER negative tax rate? How much does Corning want the government to pay them for not paying taxes? It’s a fair question. Why are they crying the overtaxed blues?
The RWers have been jawboning for years that if liberals ever got a firm toehold in government, they would just pay themselves all the money it takes in. This suggests the reality is actually the opposite. Besides, history shows that when liberals are in charge, they’re likely to be more fiscally responsible than conservatives.
It’s the conservatives who raid the Treasury (when they’re not stonewalling, I mean) and vote themselves tax breaks and REFUNDS THEY DON’T DESERVE like Corning, Inc. It’s the liberals who balance the budgets, and under whom there is higher economic growth, too.
If the House of Representatives has any cojones at all, they would Susan Ford back as a witness and question her on this stuff. But they don’t, because they’re ruled by Republicans. And more than anything else, they hate inconvenient facts.
To bastardize a line from Elvis Costello: I used to be amused. But now I’m just disgusted.
You should be, too.