The Dusty Dog

Ideological Stupidity

I just continue to be amazed that anyone can possibly buy into McStupid's tax plan. He calls for tax cut. So does Obama. But, the differences are vast. Completely ideological opposites.

Obama has stated in a recent rally, including yesterday, I believe, that McStupid's plan calls for $200 billion in tax breaks for corporations, including $4 billion to oil industries. Was that hyperbole on Obama's part? Apparently not.

According to CNN Political Ticker's Fact Check

The Statement:
Democratic presidential candidate Sen. Barack Obama, speaking in Canton, Ohio, on October 27, referred to Republican presidential candidate Sen. John McCain's tax plans and said, "It's not change when he wants to give $200 billion to the biggest corporations or $4 billion to the oil companies."

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The Verdict: True. Obama's statement accurately reflects two studies of McCain's tax proposals.

Two days later, on October 30, 2008, CNBC's Exxon Mobil posts biggest US quarterly profit ever is published. Per the article,

Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

Combine this with the fact that major corporations already don't pay taxes. This from the Huffington Post,

In a stunning report released by the United States Government Accountability Office in July 2008, Americans learned that many corporations, including those with assets over $250M, reported no tax liabilities. In fact, from 1998-2005, 72% of foreign-controlled domestic corporations (FCDC's), and 55% of US-controlled corporations (USCC's), reported zero tax liability for at least one of those years.

In total, two-thirds of the corporations doing business in the U.S. paid no taxes from 1998-2005, while collectively reporting $2.5 trillion dollars in sales.

John McCain's official website would make it seem as if corporate taxes are somehow crippling American business.

I don't know how McStupid's proposal can pass the straight face test given that CNBC article and the GAO report. If, after the past eight years of dubya's trickle down tax policies hasn't convinced people that it's a pile of hooey that accomplishes only one task - transfer money from the middle class to the very wealthy - then I am not sure what anyone can say or do to convince those that vote for McStupid, particularly those of the lower or middle class, that they're absolutely voting against their own self interests. There has to be something else at play here. Maybe, the answer is just very simple. They're stupid. They're incurious, ignorant, and just plain ideologically stupid. I know this is harsh, but I just don't know what else to say.

posted by Dusty Dog at 10/30/2008