Proved: Liberals are hypocrites

December 6, 2012
By

As if that needed proving:

When President Obama needed a business executive to come to his campaign defense, Jim Sinegal was there. The Costco co-founder, director and former CEO even made a prime-time speech at the Democratic Party convention in Charlotte. So what a surprise this week to see that Mr. Sinegal and the rest of the Costco board voted to give themselves a special dividend to avoid Mr. Obama’s looming tax increase. Is this what the President means by “tax fairness”?

Specifically, the giant retailer announced Wednesday that the company will pay a special dividend of $7 a share this month. That’s a $3 billion Christmas gift for shareholders that will let them be taxed at the current dividend rate of 15%, rather than next year’s rate of up to 43.4%—an increase to 39.6% as the Bush-era rates expire plus another 3.8% from the new ObamaCare surcharge.

[...]

One of the biggest dividend winners will be none other than Mr. Sinegal, who owns about two million shares, while his wife owns another 84,669. At $7 a share, the former CEO will take home roughly $14 million. At a 15% tax rate he’ll get to keep nearly $12 million of that windfall, while at next year’s rate of 43.4% he’d take home only about $8 million. That’s a lot of extra cannoli.

6 Responses to Proved: Liberals are hypocrites

  1. George on December 6, 2012 at 4:34 am

    Funny hypocrites calling other people hypocrites. One of the big problems with the GOP today is too many of its supporters just aren’t right in the head.

    • PoliPundit on December 6, 2012 at 4:38 am

      That’s what we conservatives call a non sequitur. Look it up.

    • allie on December 6, 2012 at 6:26 am

      What is that saying? Better to be thought a fool than to open your mouth and prove you are a fool. I guess the same thing can be said for putting something in writing that proves you are a fool.

    • ip727 on December 6, 2012 at 9:53 am

      Speaking of heads, isn’t it time you removed yours from your lower bowe???

  2. artist on December 6, 2012 at 7:11 am

    We should arrest the CEO for tax evasion.

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