Proved: Liberals are hypocrites

December 6, 2012

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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