Hypocrite Costco's Boss Spoke at Democrat Convention favoring Raising Taxes on the "Little People"

Costco Wiener to YOU!

What is the lesson to be learners here? 
Lie, make secret deals, get the government to pass onerous laws that regulate and increase costs on potential competition and and always be a hypocritical phony bastard. That is the path to success. Pure fascism! That is Obamunism. m/r


Review & Outlook: Costco's Dividend Tax Epiphany - WSJ.com
November 30, 2012, 

Obama's fans in the 1% vote to beat Obama's tax increase.

When President Obama needed a business executive to come to his campaign defense, Jim Sinegal was there. The Costco COST +0.40% co-founder, director and former CEO even made a prime-time speech at the Democratic Party convention in Charlotte. So what a surprise this week to see that Mr. Sinegal and the rest of the Costco board voted to give themselves a special dividend to avoid Mr. Obama's looming tax increase. Is this what the President means by "tax fairness"?

Specifically, the giant retailer announced Wednesday that the company will pay a special dividend of $7 a share this month. That's a $3 billion Christmas gift for shareholders that will let them be taxed at the current dividend rate of 15%, rather than next year's rate of up to 43.4%—an increase to 39.6% as the Bush-era rates expire plus another 3.8% from the new ObamaCare surcharge.

More striking is that Costco also announced that it will borrow $3.5 billion to finance the special payout. Dividends are typically paid out of earnings, either current or accumulated. But so eager are the Costco executives to get out ahead of the tax man that they're taking on debt to do so.

Shareholders were happy as they bid up shares by more than 5% in two days. But the rating agencies were less thrilled, as Fitch downgraded Costco's credit to A+ from AA-. Standard & Poor's had been watching the company for a potential upgrade but pulled the watch on the borrowing news.

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