Monday, December 03, 2012
Jim Sinegal is a hypocritical douche
At the democrat convention, Costco CEO Jim Sinegal took his puckered lips off Obama's ass just long enough to lecture the American people about how Obama's economic policies would be great for the economy, including his tax policies. But did he mean it?
For now, the dividend tax rate is 15%, but on 1Jan13 the rate goes to 43%. You'd think a fan of Obama's tax policies would gladly pay the extra taxes that he encouraged the rest of us to pay without regret.
But you'd be wrong. Sinegal and his executive officers voted to give themselves a one-time dividend bonus of $7/share. He and his wife own 2,000,000 shares of Costco stock. From the little I remember about new math, that comes out to about $3,900,000 less in taxes he'll pay by awarding themselves dividends this year instead of in January of next year. He's effectively cheating Obama out of that money.
Where's the media to vilify him for cheating the American people? Well, their lips are firmly planted on Obama's ass too, so they probably didn't notice. Besides, he's an Obama tool, so they won't report anything negative about him.