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Chuck Schumer:  Corporations can dodge taxes but not people!

Chuck Schumer is going after Eduardo Saverin for renouncing his US Citizenship and avoiding tax on his Facebook gains.  Chuck claims that Eduardo is being unpatriotic, yet Chuck has proposed a tax repatriation holiday– for corporations.  So if, according to the Supreme Court, corporations are people then why is it that Chuck has a problem with some people avoiding the full tax rate and others not so much?

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It’s a beautiful day in the neighborhood!  it looks like our good friend Chuck Schumer is going to make it rain for us!  I am talking Christmas, Hanukkah and our birthday all wrapped up in one beautiful phrase:  tax repatriation holiday!

I haven’t felt this excited since George W. posted the last one in 2005.  This is how it works:  technically there is some sort of tax rate for corporations—I think it is supposed to be 35% but you have to be really stupid to actually pay that…

So companies like Apple, Google, Pfizer and GE all park their earnings in offshore accounts.  And the money sits there until the rainmakers decide to let us bring the money home at a 5% tax rate.  I love this country!

Now here’s the thing..technically we are supposed to use that money for investing and creating jobs in the united states…but we don’t…we use it for our bonuses, we use it to buy back shares of our companies, and we use it to donate to the political campaigns of chuck and our other good friends…

We like to call it a mutually beneficial relationship.

Check out these related articles:

>A Simple Question For Senator Schumer

>Senator Charles Schumer: Eduardo Saverin Can Never Set Foot in U.S.

>Repatriation Tax Holiday Push Shows Congress Turning Deaf Ear To Occupy Wall Street


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