2007/06/15

Future Headlines - The Party of Fiscal Responsibility

(It's late and I'm tired--not really recharged quite yet, but I just couldn't pass on this one.)

GOP TO RECLAIM ROLE AS 'PARTY OF FISCAL RESPONSIBILITY'

BUSH URGED TO CURB OVERSPENDING


PRESIDENT PROMISES TO PAY OFF $8 TRILLION NATIONAL DEBT

TREASURY ENTERS INTO DEBT CONSOLIDATION AGREEMENT WITH NEED-CASH-QUICK.COM

SECOND MORTGAGE OBTAINED ON EASTERN SEABOARD

'CASH-FOR-EQUITY' OPTION ALLOWS ADMINISTRATION TO OBTAIN $100B FOR WAR

'LOW MONTHLY PAYMENT' ESTABLISHED FOR NEXT 1,271,890 YEARS

4 Comments:

10/26/06

Major Oils to Lease America’s Military Assets

Two decades ago corporate taxes comprised 20% or more of America's tax receipts. Now they contribute in the 7% range. Much of this has been attributed to sale and leaseback boondoggles? However....?

What if the major oil companies were to do a sale and leaseback on the military assets of the United States of America? For a modest cash outlay of say three trillion dollars, which the oil companies easily have or have access to, they could depreciate all of America's tanks, ship, planes, Humvees etc and shield 100% of their obscene profits from taxation while hugely reducing the knee-buckling nation-sapping debt built up by the GOP.

As opposed to other legally deficient corporate schemes such as leasing European trams or worse yet European sewer systems this scheme can be said to actually pass a significant tax accounting sniff test. A junior tax attorney could easily make the case that such military assets are actually employed integral to the oil companies operations.

Throw stock options for the troops in with combat pay and “stay the course” might yet again, cha-ching, have a nice ring to it.

(excerpt from “Capitalist Congruency in Ethical Accounting” by Ken Lay, Chpt. V, Cheney Press)
Talk about hopeless cynics... these Republicans think that because the Congress is in Dem hands that Bush will now get a spine and start vetoing spending bills. The story you link to details the sordid history of Republican spending when they held all the power... but now that Democrats are in control it's veto time. To me this is a great example of how Democrats taking control is a good thing. It gives the President a reason to be responsible. We should be taking credit for that, and beating them over the head with their own record.
bhfrik, you're dead on. I was about to make essentially the same comment.
Dig it, dudes. Two-party Democracy may indeed be too limited, but it sure beats the Soviet/Chinese style BS we had for $hrubs first 6 years!

Great plan, Frog!

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