Is the $10m Duke loan to Democrat party now a "Tax Loopholes" Obama says are tax ...

[healthmyths]

"The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners.
What Tax 'Loopholes' Does Obama Want to Close? : NPR

So is Duke Energy one of those corporate evil tax loophole users .. AFTER LENDING the Democrat party $10 million..
A Duke Energy official told the Charlotte Observer on Thursday that Democratic officials would not repay the $10 million they owe the company.

Instead, Duke Energy will write off the loan as a business expense. Shareholders are expected to absorb $6 million of the cost of the loan.

In effect, Duke Energy's "loan" has turned out to be a $10 million contribution to the Democratic convention. Duke CEO Jim Rogers hinted at this possibility in an interview with the Observer last month, when it was becoming clear the Democrats might not repay the company. "At the end of the day, we'll do our best to get our money back," he said. "But if we don't, it's just a contribution we're making I think for the greater good of our community."
Coal Giant's $10 Million Loan to Democrats Is Now a $10 Million Donation | Mother Jones

 

[Stephanie]

holy smokes, nothing like giving money to cut you own throat I guess.

 

[healthmyths]

Oh and by the way... those "The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners." Obama is proposing???

OBAMA USED THEM on his 2010 tax return!!!
Yea this is the same guy that in 2010 Obama's taxable income was $1,728,096
245,075 14.18% of his income as donations to charities (WOW a big chunk of change at 14%!!!)TAX LOOPHOLE
49,945 home mortgage interest TAX LOOPHOLE
122,527 Long term capital loss CARRYOVER!!! 7% sheltered income!!TAX LOOPHOLE TAX BREAKS FOR MILLIONAIRES AND BILLIONAIRES!!!
and paid: $453,770 26.26% of gross income.

Note Obama ONLY donated 14.18% of his $1.7 million income which is nearly half what Bush donated who had only half Obama's income!!!

WHY didn't he do as Bush did give 23% of an income that was half the income of Obama's?

President and Mrs. George W. Bush reported taxable income of $719, 274 for the tax year 2007
The Bushes contributed a total of $165,660 [23%] to churches and charitable organizations.
federal income taxes,paid $221,635 or 30%!

Bush earned $719,000 in 2007 - CNN.com

So Obama not only donated LESS then Bush did even though Obama MADE twice what Bush made...
BUT Obama PAID LESS in taxes percentage wise at 26% then Bush who paid 30%

Again.. Obama is a blow hard. Pompous hypocrite!

 

[Oldguy]

"The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners.
What Tax 'Loopholes' Does Obama Want to Close? : NPR

So is Duke Energy one of those corporate evil tax loophole users .. AFTER LENDING the Democrat party $10 million..
A Duke Energy official told the Charlotte Observer on Thursday that Democratic officials would not repay the $10 million they owe the company.

Instead, Duke Energy will write off the loan as a business expense. Shareholders are expected to absorb $6 million of the cost of the loan.

In effect, Duke Energy's "loan" has turned out to be a $10 million contribution to the Democratic convention. Duke CEO Jim Rogers hinted at this possibility in an interview with the Observer last month, when it was becoming clear the Democrats might not repay the company. "At the end of the day, we'll do our best to get our money back," he said. "But if we don't, it's just a contribution we're making I think for the greater good of our community."
Coal Giant's $10 Million Loan to Democrats Is Now a $10 Million Donation | Mother Jones

Correction: Duke did not loan the DNC money. They guaranteed loans made to the DNC by a Charlotte based committee. There is no indication from anyone that the loans have not, or will not, be repaid. It's like co-signing a car loan for your son. You're not owned anything unless he defaults on the loan. So far as I know, the DNC has not defaulted.

 

[healthmyths]

"The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners.
What Tax 'Loopholes' Does Obama Want to Close? : NPR

So is Duke Energy one of those corporate evil tax loophole users .. AFTER LENDING the Democrat party $10 million..
A Duke Energy official told the Charlotte Observer on Thursday that Democratic officials would not repay the $10 million they owe the company.

Instead, Duke Energy will write off the loan as a business expense. Shareholders are expected to absorb $6 million of the cost of the loan.

In effect, Duke Energy's "loan" has turned out to be a $10 million contribution to the Democratic convention. Duke CEO Jim Rogers hinted at this possibility in an interview with the Observer last month, when it was becoming clear the Democrats might not repay the company. "At the end of the day, we'll do our best to get our money back," he said. "But if we don't, it's just a contribution we're making I think for the greater good of our community."
Coal Giant's $10 Million Loan to Democrats Is Now a $10 Million Donation | Mother Jones

Correction: Duke did not loan the DNC money. They guaranteed loans made to the DNC by a Charlotte based committee. There is no indication from anyone that the loans have not, or will not, be repaid. It's like co-signing a car loan for your son. You're not owned anything unless he defaults on the loan. So far as I know, the DNC has not defaulted.

You are right. They haven't defaulted on the loan.
The point though of MY thread was to give an example of the EViL corporate TAX LOOPHOLES that will allow Duke if the Dems default to write it off
as a loss... JUST AS OBAMA DOES EVERY YEAR ON HIS TAXES.. $100,000 A YEAR IN TAX LOSS CARRY FORWARDS!
And the point is Obama derides these TAX LOOPHOLES even as HE USES them!!!
Isn't that a bit hypocritical? I mean Bush paid 30% in taxes while Obama by taking $100,000 losses paid 26% in taxes...
Seems like at the least Obama could do is before he complains about the "wealthy tax break splinters in the evil wealthy eyes,
he stops taking the $100,000 loses i.e. the plank in his eye!

"Why do you look at the speck of sawdust in your brother's eye and pay no attention to the plank in your own eye?
Matthew 7:3

 

[CrusaderFrank]

Some animals are more equal

 

[rdean]

"The tax cuts I'm proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners.
What Tax 'Loopholes' Does Obama Want to Close? : NPR

So is Duke Energy one of those corporate evil tax loophole users .. AFTER LENDING the Democrat party $10 million..
A Duke Energy official told the Charlotte Observer on Thursday that Democratic officials would not repay the $10 million they owe the company.

Instead, Duke Energy will write off the loan as a business expense. Shareholders are expected to absorb $6 million of the cost of the loan.

In effect, Duke Energy's "loan" has turned out to be a $10 million contribution to the Democratic convention. Duke CEO Jim Rogers hinted at this possibility in an interview with the Observer last month, when it was becoming clear the Democrats might not repay the company. "At the end of the day, we'll do our best to get our money back," he said. "But if we don't, it's just a contribution we're making I think for the greater good of our community."
Coal Giant's $10 Million Loan to Democrats Is Now a $10 Million Donation | Mother Jones

I missed the part about "taxpayers". Does it show up in the links?