Tuesday, May 21, 2013

Are Congressmen Really Stupid, or Do They Just Play it that way on TV


Lots of (faux) outrage in the Senate today as Apple CEO Tim Cook explains to Senators that yes, if you create a law that allows a corporation to lower its tax liability, rational companies will take advantage of that law.

So today we get the spectacle of the World's Greatest Deliberative Body (and I say that with the maximum amount of scorn and sarcasm) discovering that, shockers, laws have consequences; companies have a moral duty to maximize profits, and most companies don't regard taxes as "contributions." Thanks Senators McCain and Levin, for your example of bipartisan idiocy.


Ps I too avoid taxes by, gasp, itemizing deductions and taking full advantage of the mortgage interest deduction, deduction for property taxes paid and deducted my charitable donations. Given Senator McCain thinks of taxes as "contributions," maybe I should deduct my federal contributions as well.

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