Gingrich calls Obama "...food stamp president"

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.'

more at link

Gingrich would have been a real asset to their ambition of burying the U.S..

Corporate welfare = GOOD, welfare for the country's citizens = BAD BAD BAD

Has nothing to do with actual social programs.

They eat that shit up.

If these large corporations would just pay their taxes, instead of paying lawyers to avoid them, would they actually come out ahead?

Welcome to DU.

Very thinly veiled, Newt.

More trickle down baloney or what?

This is The Laffer Curve:



Please note the Equilibrium Point. According to Laffer's theory, there is One Tax Rate--the equilibrium point--that will maximize tax revenues. If the current tax rate is above the equilibrium rate, tax revenues will fall because people will be less inclined to work if the fruits of their labor are taken by the government; if the current rate is below the equilibrium rate, tax revenues will fall because taxes aren't high enough.

The most obvious problem with Laffer's theory is it only actually works if every dollar that changes hands in the United States is taxed at exactly the same rate. Obviously it's not. Some dollars are taxed repeatedly: income tax, sales tax, federal excise tax...not to mention multiple tax rates for personal income tax and so on and so forth.

The other problem is, Republicans to a person believe the current tax rate is always at Point B--that it's higher than the equilibrium rate. At one time, we WERE in Point B land--when Truman set the top personal rate at 90 percent to pay for World War II. But for some strange reason--maybe because the part of the tax intake that wasn't dedicated to paying for the war was being spent on public works projects and on fulfilling the GI Bill of Rights--the United States was economically far stronger than it is now. As far as I can tell, the equilibrium point is actually 70 percent, not 10 percent like the pukes think it is.

But this is the thing: the Laffer Curve theory does NOT say what Gingrich thinks it says.

And fresh from his stint on the "sinner's pew" of the fundie church he pretends to pray in comes newt the serial skirt-chasing philanderer, hypocrite, know-it-all corporate shill of all time...dressed as our knight in shining turds.

Douchebag is equating Obama to causing a Civil War.

FK Newt!

I don't know if it's intended as a racial dogwhistle, or that lots of people are on food stamps due to the economy, or if he's trying to say that Obama wants to give everybody food stamps, in a welfare sense. It's clear that Gingrich was trying to come up with something catchy and sound-bitey to define Obama, but it's escaping me.

a lot of people are on food stamps thanks to their unemployment situation, and Gingrich is trying to tie that can to Obama's tail.

Unfortunately for Newt, the unemployment is a direct consequence of decisions Reagan made in the 1980s.

Unfortunately for Obama, the Democrats have not figured out a way to tie up the Republicans, lock them in a closet and declare a quorum so they can go about the business of dereaganizing the financial system in this nation.

er. shit on the newtie and then make him look like the fool he is. Your day is coming newt err turd and you ain't gonna like it when it gets here either, I'd bet money on that.

:sarcasm:

I think I know what he means by that.

tax if the rate was lower? What a crock. If they were willing to pay 12.5 percent, they wouldn't have paid those lawyers so much to find and exploit every single fucking loophole they could find. They want to pay ZERO, and that's what they'll try to do no matter what the rate is.

Have you no shame at all, asspie? You're a sick fuck, Newt.

which is why all of those people are on food stamps. Their solution is to just take them away and let people starve.

I don't know why this isn't obvious to the rest of the country.

and getting dumber by the day.

That's right, the federal government, either in salary, pension, or lobbying.
A truer phoney there never was.