Facebook pays no tax on $1.1 billion profit; time to rewrite the tax code

Facebook, which earned $1.1 billion last year, has revealed that because of tax loopholes and deductions, it will not…let me write that again…it will NOT pay any income taxes for 2012. And further more, it will receive, yes RECEIVE, $429 million in tax refunds.

The numbers are based on Facebook’s annual report that was released in January.

Tim Worstall, a contributing writer for Forbes, explains, rather matter-of-factly, how this can happen in his Feb. 19 article. Continue reading

How to live forever!

(EDITOR’S NOTE: Friend Bob Montgomery sent this to me and I thought I would pass it along.)

A man was awakened Christmas Eve by a ghost of Christmases past.

“I can grant you one wish,” the ghost said.

The man, without any hesitation, answered, “I want to live forever!”

“Sorry,” the ghost said. “I’m not allowed to grant eternal life.” Continue reading

A middle America discussion before breakfast

Sitting in the living room of the ocean front beach house in Ocean Shores, Wash., where we are staying this weekend with our daughter, Jessica, her boyfriend Eric and his parents Oscar and Angela.

The house belongs to Spencer and Tora, friends of Jessie and Eric.

Somehow the early morning conversation centered on the U. S. Supreme Court‘s decision upholding the health care reform law that’s become known as “Obamacare.” Continue reading

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