Gingrich calls Obama "...food stamp president" [View All]

Phony gingrich-or-die-tryin' is heating up the phony rhetoric

http://www.huffingtonpost.com/2011/05/14/newt-gingrich-in-georgia-_n_861977.html

snip

'Addressing the Georgia Republican Party's convention, Gingrich said the nation is at a crossroads and that the re-election of Democratic President Barack Obama would lead to four more years of "radical left-wing values" that would drive the nation to ruin.

Gingrich also blasted Obama as "the most successful food stamp president in modern American history."

snip

'Saying he wanted to slash an array of taxes and bureaucracies, Gingrich praised the author of the "Laffer Curve," an economic theory that says unless taxes are kept low, individuals and corporations will invest less and seek ways to avoid paying taxes.

Gingrich cited GE. The company reported global profits of $14.2 billion last year, including $5.1 billion from U.S operations, but modest tax liabilities.

Gingrich said the 35 percent corporate tax rate should be cut to 12.5 percent. He cited GE's "remarkably rational behavior in recognizing the corporate tax rate is clearly past the Laffer curve point. And so 375 tax lawyers in the largest tax department in the world" devised "a very clever strategy which enabled General Electric to pay zero corporate taxes."

After news organizations reported that GE might pay no corporate taxes for 2010, the company stated that it expects a "small U.S. income tax liability" for that year.'

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