Crazy Train: Sarah Palin Wants to Eliminate All Federal Corporate Income Tax

Sep 03 2011 Published by under Uncategorized

sarah palin tea party speech sept 3, 2011

Sarah Palin (.5 term, R-AK) disappointed her few but loyal fans today when, at the end of a rather crazy-making speech, she announced that she wouldn’t be announcing (again). Yes, it’s true, the Great Tease of 2011 continues, even as the potential audience for “who cares” dwindles.

Palin headlined to a sparse crowd for the Tea Party of America Restoring America rally in Iowa today, on the 3rd anniversary of her 2008 Republican convention address — also known as the day our national nightmare began. In Palin’s Real America, patriots are not allowed to bring a sign and there’s restricted access, because that’s how freedom and liberty lovers roll, but man you could hear freedom for corporations ring as the half-term governor announced her big job creation policy would be to eliminate all federal corporate income taxes (wave patriot flag here).

As tired and worn out as the Tea Party narratives were in the warm up to Palin, the Tea Party is still capable of huge excitement as Sarah Palin, Queen of the Tea Party, took the stage to knock out her political rival, Rick Perry. Oh, wait, she should have been knocking out Rick Perry if she were really going to run, but she spent much of her time taking aim at Obama.

Here’s five minutes of it (any more is deemed hazardous to your ears and mind):

Palin blamed Obama for the credit rating lowering (knowing that she helped bring this on by urging Tea Partiers to refuse to raise the debt ceiling in spite of Wall Street’s dire warnings), she blamed Obama for the bad economy, and she had a gleeful field day with the job numbers for August which she duly inaccurately reported as zero job growth. Ironically, under Obama, private sector jobs grew while the public sector losses zeroed that growth out, but that didn’t stop Palin from taking pot shots at “government created jobs”, seeming to forget that one of the the biggest employers in her state of Alaska is the federal government.

We got the “Drill here, drill now” bit and the jabs at “hopey changey”, because the Tea Party really responds well to this sort of low-level, lame taunt based on nothing and coming from someone who keeps offering them “hope and change” only she’s calling it “restoring and reforming”.

But the real puzzler was when Palin announced what I guess will be her job-creation “policy” if she runs: Palin proposes that we eliminate all federal corporate income tax in order to create jobs. ALL. That’s any and all corporate income tax. And this is where we get to the part in our program where we reveal more proof that the Tea Party doesn’t give a hoot about fiscal conservatism. A policy of no federal income taxes for corporations is not exactly responsible. But certainly, it’s rich, coming from Palin who taxes the oil companies in Alaska so much with windfall profit taxes that they claim they stopped drilling there as much as they were because their profits were being taxed too much.

We aren’t sure, of course, how Palin would have any clue about job creation, since the federal government has been the largest employer in Alaska since well before statehood. Palin apparently wants to rob the federal government (read, blue state theft) of revenue but never pay. See, that worked for her in Alaska between the socialist taxing of the oil companies (a plan I support, by the way) and taking more than she gave from the federal government. But see, the federal government and the taxes from the oil companies funded that little plan of hers. She seems to have missed that part.

On August 10, 2008, the Seattle Times reported on Palin’s windfall profit taxes:

Over the opposition of oil companies, Republican Gov. Sarah Palin and Alaska’s Legislature last year approved a major increase in taxes on the oil industry — a step that has generated stunning new wealth for the state as oil prices soared.

At a time when Americans are feeling the pinch at the gasoline pump and oil companies are racking up record profits, Alaska’s choice foreshadows one of the sharpest debates in the upcoming presidential election.

Democrat Barack Obama supports a national windfall-profits tax, while Republican John McCain opposes it.

Alaska collected an estimated $6 billion from the new tax during the fiscal year that ended June 30, according to the Alaska Oil and Gas Association. That helped push the state’s total oil revenue — from new and existing taxes, as well as royalties — to more than $10 billion, double the amount received last year.

As for the “drill here, drill now” meme, Palin also doesn’t tell her supporters that her socialist program of taxing the oil companies allowed her to give “a special $1,200 payment to every Alaskan to help cope with gas prices, which are among the highest in the country.” Now, how is it that gas prices are the highest in the country in Alaska, if drilling her and drilling now will bring down gas prices? Oh, that’s right, because it won’t.

The bottom line is that the part about where the money will come from is missing from Palin’s policies. And since at the time Palin quit on Alaska, midway through her first term, she left Alaska with a 70% debt to GDP ratio, I’m not sure her fans should just trust her to wing it on the economy.

As for her knowledge of job creation, Alaska is hardly a good job reference for her. The Alaska Department of Labor warns folks about moving to Alaska and thinking they can get a job:

“Research time can provide you with a realistic view of the current job market (it’s no longer the wide open market of pipeline days) and direction in locating a job….Job Market Overview: Alaska ranks 20th among the states in per capita income. Cost of living comparisons are imprecise, but one study ranks Kodiak, Juneau, Fairbanks and Anchorage among the survey’s 10 most expensive cities to live in. Unemployment in Alaska is above the national average. The employment growth rate is slow, below one percent. All in all, recent economic growth has been slow.

And where they (jobs) are not: Due to falling production, oil and gas industry employers have been laying off workers, and further layoffs are expected. Employment in state and local government is in a downward trend. Mining companies have been curtailing operations. Urban school districts have more teacher applicants than positions and rarely hire from out of state. The timber industry is much reduced from earlier years. There is no factory work in Alaska. The fishing industry has experienced dramatic declines in harvests in some species and areas. Competition for federal jobs is keen…”

There’s no evidence in Alaska’s job numbers that Palin knows one thing about private sector job creation. Palin did get a few jabs in at Perry, the Texan who has stolen Tea Party support from her even though she hasn’t announced yet, citing “crony capitalism” as a big problem. While Palin claims the mantle of a reformer, the New York Times reported in September of 2008:

“(W)hen there was a vacancy at the top of the State Division of Agriculture, she appointed a high school classmate, Franci Havemeister, to the $95,000-a-year directorship. A former real estate agent, Ms. Havemeister cited her childhood love of cows as a qualification for running the roughly $2 million agency.

Ms. Havemeister was one of at least five schoolmates Ms. Palin hired, often at salaries far exceeding their private sector wages.

When Ms. Palin had to cut her first state budget, she avoided the legion of frustrated legislators and mayors. Instead, she huddled with her budget director and her husband, Todd, an oil field worker who is not a state employee, and vetoed millions of dollars of legislative projects.

Yes, this is Palin’s modus operandi. For example, Sarah Palin is married to a once registered secessionist, so in 2008 she accused Barack Obama of palling around with terrorists and not loving this country. When she ran for mayor of Wasilla, she implied that her opponent was Jewish due to his last name, as if this naturally meant that he wasn’t qualified to be mayor.

Palin likes to take populist jabs at the “permanent political class”, but Palin has been in politics for quite some time now. In fact, she’s been making her living off of the government since 1992. Palin is 47 years old, so that means that she’s been in government for 25 years, 28 if you count making money off of the promise that you might run.

Soggy Palin fans were no doubt disappointed today when she didn’t announce, but that just goes to show that they don’t know Palin very well. Sarah Palin has a paid speaking gig lined up with Glenn Beck on October 7, and she isn’t going to turn down money just to appease their desire for her to run. Plus, if she is planning on announcing, it serves Palin well to wait as long as she can before announcing. Palin knows that the only reason she got off relatively scot-free in 2008 was due to the short duration of her actual run, and Sarah Palin can’t afford to be vetted properly or asked questions about her policies, as we can see from the few policies she advocated today which don’t match up at all with her actual short record as Governor.

See, if she announced, someone would ask her to explain how she’s going to fund this country with no corporate federal income taxes and no big daddy fed to bail her out this time and then she would be asked what would happen to state corporate income taxes if we killed federal taxes for corporations. The crazy train has left the building, and if Palin does announce, she’s in for a world of hurt when the vetting comes, and it will come.

Palin can hide in her Facebook bunker, but the questions will be answered with or without her input.

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