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Wednesday, February 28, 2018

He's bragging, not complaining

"Starbucks Executive Chairman Howard Schultz said Tuesday that President Trump’s corporate tax cuts will saddle future generations with an insurmountable national debt," the Washington Times reported.

He's bragging, not complaining.

His complaint is that President Trump lowered the corporate tax rate from 35% down to 21%.

That's a venti serving of sour grapes.

Starbucks pays only 19% now, according to Nerd Watch. It listed the tax rates the S and P 500 companies pay.

"There are many legitimate reasons that these rates differ from each other and from the U.S. statutory rate of 35%.  In some rare cases, rates may even be higher than the statutory rate due to penalties or repayment of deferred taxes from previous years," Nerd Watch said.

Readers may say, well, that's legal.

But remember what CEO Schultz said -- his actual quote -- "That 21 percent tax cut is going to add over $1 trillion to an already $21 trillion debt, and I think we are not paying much attention to that while we are robbing from the future of young people in America, who ultimately are going to have to pay for a $21 trillion tax deficit."

So he is saying that a 21% rate robs future generations.

And his company paid only 19%.

His company could have voluntarily paid 35% and can still pay 35%.

But it didn't and it won't.

He is a fake. A fraud. A phony.

He simply is another SJW multi-millionaire marketing himself and his company as anti-Trump, which sells a lot of latte in DC and along the coasts.

Of course we all know what drives the deficit and the debt: spending.

Starbucks also is a tax cheat.

Proven.

"In October 2014, the European Commission declared that the Netherlands had 'granted selective tax advantages' to Starbucks in 2008, and ordered the country to recover back taxes that amounted to somewhere between 20 million and 30 million euros. Investigations revealed that Starbucks had allegedly cut its tax burden by up to 30 million euros since 2008, paying the Netherlands 2.6 million euros in corporate tax on a pretax profit of 407 million euros, a rate of less than 1%," Forbes magazine reported.

"The Netherlands has appealed and challenged the findings of the commission, and Starbucks said they supported the government’s efforts."

By his own admission, Schultz was robbing the little Dutch boys and girls of their future.

Someone should shame him.

I just did.

@@@



The media chose to go to war with Donald John Trump in 2017 rather than accept him as president.

The media chose poorly.

From Leslie Eastman's review at Legal Insurrection:
Surber, a recovering journalist with over 30 years of experience, has been cataloging the #FakeNews that has been regularly offered as serious analysis of President Donald Trump’s actions, policies, and opinions. He has brought his enormous collection together in the longest, most serious book he has yet written: Fake News Follies of 2017.
Fake News Follies of 2017 is available on Kindle and in paperback.

Autographed copies are available. Email me at DonSurber@GMail.com for details. I am including a "director's cut." I will give you the original Chapter 1 that I cut because while the chapter was amusing, it really had nothing to do with the Fake News Follies of 2017.

12 comments:

  1. So, cut the sh*t out of spending. Done.

    I do think it's cute how lefties only care about the debt or deficit when a Republican is in office.

    ReplyDelete
  2. Uhh wasn’t Mr Schultz a big fan of Obama who added how much to that debt on his 8 year watch and did he bother to say anything about it the ?

    ReplyDelete
    Replies
    1. Of course not, Dad. Howie is a proud, card-carrying member of the Deep State. The rules are different for them, doncha know?

      Delete
  3. Much like homelessness only becoming an issue under a republican president (even RINO presidents), so it is with the deficit.

    ReplyDelete
  4. Starbucks coffee?

    But I don’t NEED to take the chrome off any old bumpers.

    ReplyDelete
    Replies
    1. Hahaha Dave! Yeah, I stopped drinking that battery acid about 7 years ago because it was tearing up my stomach. Dunkin makes a decent brew but I prefer a nice cup of Gevalia Traditional Roast here at home.

      Delete
  5. Remember when Starbucks was getting its windows busted by left wing activists over what kind of coffee they were serving? Had something to do with how particular companies handled their workers and benefits, or something. The one in my hometown operated with boarded up windows for a while, and the college newspaper seemed to be cheering this on. The local commies were mad because their favorite haunts were being driven out of business.

    Then they all went silent. In all probability, money started flowing in a way that appeased them. Now they love the company.

    Starbucks became Big Brother and they fell in love.

    ReplyDelete
  6. More to the point, US Treasury estimates that additional revenues due to the higher GDP growth from the $1.5 Trillion tax cut will be about $1.8 Trillion.

    So, the tax cuts will REDUCE the national debt by about $300 Billion.

    Their report is publicly available...

    ReplyDelete
  7. Forgot to turn on comments on your most recent post.

    ReplyDelete
  8. Howard Schultz is one of the great geniuses of our times. I am not being facetious.

    He convinced a huge swath of the American public to pay five or six dollars for something they used to get for 25 cents.

    He's a salesman whose marketing skills are on par with our current chief executive.

    ReplyDelete
    Replies
    1. Well- the American public is also paying huge sums to drink tap water out of plastic bottles.

      I'm not at all sure that Schultz is a genius; it could be that the American public has lost all common sense, and will buy whatever snake oil they're offered.

      Delete
  9. Future generations won't pay for current tax cuts. They'll pay for current spending.

    ReplyDelete