FOR IMMEDIATE RELEASE
W Ketchup™ Exposes Treasury Secretary's Illegal Acts
Tax collectors were hated not just because they themselves were unjust, collecting more taxes than were due, but also because the taxes were sent to Rome. Taxpayers received no corresponding services from the state. The payments were, in effect, tribute to Caesar.
The United States has the highest corporate tax rate among OECD countries. It is one of only seven of such countries that taxes worldwide income. American companies operating abroad must also pay local taxes, and they receive no benefit for the taxes they send to Washington. The payments are solely tribute to Obama.
Several large companies have recently reorganized to become subsidiaries of foreign companies in a process called “inversion.” These companies continue to pay taxes on income generated in America, but they no longer must pay tribute to Obama.
This week, Obama's Treasury Secretary Jack Lew announced that the Treasury Department would unilaterally take actions to reinterpret existing law so as to make inversions illegal.
W Ketchup™ Chairman Bill Zachary, reacted: “Our Founding Fathers rejected monarchy, designing a republic instead. The Constitution requires that Congress pass laws; the executive's job is merely to enforce the laws as written. Once again, Mr. Obama violates the Constitution and his oath of office, and Congress does nothing.”
Mr. Lew made more than $800,000 per year when he worked at New York University, a tax-exempt organization. While he was there, NYU chose Citigroup to be its preferred student loan provider. New York's Attorney General discovered that NYU was accepting kickbacks from Citigroup, a practice he called “egregious.” Both institutions were fined. Mr. Lew has testified: “I do not believe that I approved the selection of Citigroup. . . .” Mr. Lew left NYU to join Citigroup.
NYU paid Mr. Lew a severance package when he quit, even though his contract did call for such a payment. It is university policy to pay severance only when an employee leaves involuntarily. Obama's previous Treasury Secretary, Timothy Geithner, admitted during his confirmation hearings that he had cheated on his taxes.
Dan Oliver, CEO of W Ketchup™, commented: “Once again we see the workings of a quasi-criminal exploiting the incestuous nexus of big academia, big banking, and big government. The new Publicani harass productive citizens through opaque relationships to line their own pockets. Through inaction, Congress is complicit. We urge our customers to vote for candidates who will make Obama account, officially, for his Constitutional transgressions.”
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Founded in 2004, W Ketchup™ is a private company that makes ketchup