Posted on 09/21/2010 5:28:20 PM PDT by Kaslin
Abuse Of Power: Is the White House now targeting a dissident company with the tax code? Sure looks that way, given a menacing reference to Koch Industries from an anonymous official to its trusted media allies.
The private Wichita, Kan.-based conglomerate, which operates ranches, drills oil, runs pulp and paper mills, and creates specialized textiles for athletes, among other activities, is owned by two brothers, David and Charles, who openly fund free-market causes. And that, apparently, was enough to draw White House attention to their company's tax structure.
On Aug. 27, a senior administration official singled out Koch for condemnation and implied it was cheating on its taxes. In an on-the-record background briefing to reporters, the anonymous aide said:
"So in this country we have partnerships, we have S corps, we have LLCs, we have a series of entities that do not pay corporate income tax. Some of which are really giant firms — you know Koch Industries is a multibillion-dollar business."
The Weekly Standard called attention to the matter this week, confirming the accuracy of the quote and reporting that Koch's lawyer wanted to know if the White House was looking into Koch's tax status in retaliation for the owners' political activities and in an attempt to intimidate other corporations.
The White House denied it had obtained secret information about Koch's taxes, and told Politico's Ben Smith that its information came from Koch's own Web site as well as from the President's Economic Recovery Advisory Board's report on tax reform.
(Excerpt) Read more at investors.com ...
If the Kochs’ company doesn’t pay taxes, its because their company is using allowances and deductions implemented by Congress to encourage and stimulate investment in their industry. What’s wrong with that?
It came from the New York Times. That paper decided the Koch brothers would be the “face” of explaining everything that goes against their favorite issues, the mirror image of those who blame Soros for everything.
Alinsky rule: Personalize the issue.
Complete and total
BS!
As someone who has participated in a partnership and a S corp, I can tell you that I paid corp taxes out the wazoo.
FYI, C corps pay corp taxes directly. With the other corp entities mentioned, the profit from the corp flows through to the stockholders who then report the income on their personal taxes.
Buncha BS.
Don’t expect a Limbaughesque response from these fellows. I don’t know of anyone who has tangled with them and come out well, ever.
The reason laws are open to interpretation is so that they can be interpreted as it suits the one doing the interpreting.
wonder if the union organizers will be paying a visit anytime soon.
Obama is using another strawman ploy. Anyone in business understands the role of C corps, S corps, LLCs, Partnerships and Schedule C business entities. The average voter would not. The only entity in the aforementioned list that pays Corporate Income taxes is the C Corp. That DOES NOT mean that profits from the other entities are tax-free. All of the others are what is known as pass-through organizations, meaning that the profits are passed-through to individual shareholders or partners and those individuals pay the taxes. There are many reasons why this is so but the bottom line is that taxes are paid.
Vanity Fair - paper napkins, plates, etc.
Angel Soft - toilet tissue
Quilted Northern - paper towels
Sparkle - paper towels
Brawny - paper towels
Mardi Gras - paper towels and napkins
Dixies - cups, plates, napkins, etc.
DensArmor Plus - gypsum drywall panels
Plytanium - plywood
Stainmaster - carpeting
Lycra - polyester fiber
Coolmax - performance fabrics
Cordura - durable fabric (used in US Army uniforms)
Thermolite - insulating fabric
Polarguard - synthetic insulation
SolarMax - UV-resistant fabric
Dacron - fiberfill (pillows, bedding)
Good. Thanks.
>> Complete and total BS
Exactly. The anti-corp types are generally ignorant fools.
Thanks for the list. Some of it is stuff I already use, but will do more in the future.
I think it was David Koch that ran for VP as a Libertarian back in the very early ‘80s, with Ed Clark. I met him then. Really nice guy, if my memory serves me well (which it often does NOT!!!).
Thank you! Will BUYcott and send this list out asking other to do the same!
David and Charles, who openly fund free-market causes.
"Openly" my butt.
The Koch's fund a web of innocuous organizations that disguise from the public that the political disinformation they spread directly benefits the financial interests of the Koch's.
That statement borders on slander, actually LIBEL, since it's the printed word, though it's just in the ether.
How about providing a little bit of DOCUMENTARY EVIDENCE of your scurrilous and infamous accusations, HMMM?
Or do you think that this needs no more proof than your pipe-dream mass transit nonsense?
That statement borders on slander, actually LIBEL, since it's the printed word, though it's just in the ether.
The Koch's are whacknut libertarians whose extreme market theories and political disinformation erode and undermine traditional conservative Judeo/Christian social values.
You seem to be so anti business, why don’t you move to North Korea
“The Koch’s are whacknut libertarians whose extreme market theories and political disinformation erode and undermine traditional conservative Judeo/Christian social values.”
OK....some info to back up this statement?...I’ll just say these whacknuts provide 10’s of thousands of hard working Americans a great living. Their benefits plans are second to none, they pay exceptional bonuses for a job well done and set up nice pensions for their workers....what total pricks.
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