kingman’s nut street station, taxes and the corporate nanny state, kubrick black and whites

Nut Street Station

Nut Street Station. There is no official date for this Dong Kingman watercolor. Kingman was born Dong Moy Shu in Oakland, California ( 31 March 1911 – 12 May 2000). Kingman was a very influential artist in what became the California style. He produced a tremendous body of work that ranged from urban scenes to country landscapes. He was also a highly regarded and sought after graphic artist in Hollywood. His original works can be found in the Metropolitan Museum of Art, Museum of Fine Arts, Boston; Brooklyn Museum; deYoung Museum Art Institute, Chicago and other art museums across the country. This painting is a good example of Kingman’s ability to be both serious enough not to be dismissed as someone who just makes pretty pictures, yet playful enough not to be overly dramatic. Picture Credit: Smithsonian American Art Museum Bequest of Henry Ward Ranger through the National Academy of Design 2012.

Transplanting Taxes from Corporations to the Rest of Us: American taxpayers are increasingly picking up the tab for unpaid corporate taxes.

Officially, the U.S. corporate tax rate stands at 35 percent, but in practice it’s far lower. Corporations have lots of tricks in their box of tax-avoidance tools.

In the 1950s, corporations paid nearly a third of the federal government’s bills. Last year, thanks to the antics of Pfizer and other examples of overly creative accounting, corporate income taxes accounted for less than a tenth of Uncle Sam’s total revenue.

Consider Pfizer’s track record. The drugmaker increased its offshore profits by $10 billion in 2012, boosting its offshore stash to $73 billion — all of it untaxed by Uncle Sam. Like most pharmaceutical companies, Pfizer registers its patents in a low-tax offshore haven, and then charges a high price for the use of this “intellectual property.” Doing so, it shifts all of its U.S. profits offshore, avoiding U.S. taxes and bloating its overseas bank account.

Yet conservatives, not unlike parrots with cognitive impairment – from Mitch McConnell (R-KY) to Paul Ryan (R-WI), conservative pundits at the WSJ and certainly the little parrots on conservative blogs repeat the snake-oiled soaked myth that if only taxes were lower there would be plenty of jobs and unicorns for everyone.

Naked City. Two men leaning against a fence. 1947.

Naked City. Two men leaning against a fence. 1947. by Stanley Kubrick. Kubrick was the official still photographer on the filming of the movie Naked City. Many of the photos were used by Look Magazine.

Betsy Von Furstenberg. Reading a script in a windowsill. 1950.

Betsy Von Furstenberg. Reading a script in a windowsill. 1950. Also by Kubrick.