I often wonder how Bernie Sanders’ fellow senators are reacting when he’s on the floor, warning us for the umpteenth time that super-wealthy right-wingers, with much help from the Supreme Court, are snuffing out what’s left of our democracy. Maybe they’re too busy conferring with lobbyists to hear the guy. Or they take long bathroom breaks when he gets up to speak. Or simply turn down their hearing aids:
“… So we have people like the Koch Brothers and Sheldon Adelson. The Koch Brothers are worth $50 billion. That’s what they’re worth. And, they have said they’re prepared to put $400 million into this campaign to defeat Obama, to defeat candidates who are representing working families. Sheldon Adelson says he’s only worth $20 billion. He’s kind of a pauper. But he’s willing to spend what it takes to buy the government…”
Adelson’s hubris is breathtaking. As a recent New York Times editorial noted, the ugly little greedhound’s ideological fervor is a smokescreen:
Mr. Adelson… rails against the president’s “socialist-style economy” and redistribution of wealth, but what he really fears is Mr. Obama’s proposal to raise taxes on companies like his that make a huge amount of money overseas. Ninety percent of the earnings of his company, the Las Vegas Sands Corporation, come from hotel and casino properties in Singapore and Macau. (The latter is located, by the way, in China, a socialist country the last time we checked.)
Because of the lower tax rate in those countries (currently zero in Macau), the company now has a United States corporate tax rate of 9.8 percent, compared with the statutory rate of 35 percent. President Obama has repeatedly proposed ending the deductions and credits that allow corporations like Las Vegas Sands to shelter billions in income overseas, but has been blocked by Republicans.