Santelli Annihilates Costco CEO For Blatant Tax Hypocrisy

Why he walked off set earlier in the day.

The 4 million dollar tax hypocrite.

Tax avoidance by CEOs who give glorious political speeches on why higher taxes are good for everyone, and then operate by a different set of rules when no one is watching.

Here's the WSJ article that caused the righteous indignation...

Snip

When President Obama needed a business executive to come to his campaign defense, Jim Sinegal was there.  The Costco 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"?

---

Sinegal's DNC speech (Sep. 6, 2012):

Costco Co-Founder Jim Sinegal addresses the 2012 Democratic National Convention.

Comments

[JosphConrad]

Increasing taxes of those least able to pay is stupity. Taxing those with the wealth to buy ax avoidance schemes is quit rational. The wealhy in this nation made their billions sendign jobs overseas to avoid taxation and regulation. hey have the extra money. Tax them....

[RoloT]

Santelli"s act is growing tired. I always love having people on CNBC screaming at the camera while gesturing wildly. Great that he walks off the shot during his own segment. Al Pacino called and said that Santelli is over-acting.

[kb]

santelli is one of the only pure souls on that whole CNBC rat's nest.

that said, one could take the view that knowingly cooperating with the looters of the world (CNBC implicitly applauds the destruction of the country in order to "report" on markets....ignoring for its own reasons, that the county has been shredded in favor of a collectivist "new normal")....makes one worse than the ignorant looters.

I don't know how santelli lives with himself being connected to those cretins.

al pacino wears baseball hats backwards. I don't exactly consider him an authority on this.

[Frank]

@Conrad, tax the rich, yes but that adds up to 8% of the trillion dollar deficit by BHO White House. Drastic cuts are coming, unless we hyperinflate

[Richard Spurgeon]

Who pays any attention to Santelli other than other greedy bankers and Wall Street dealers. He and his ilk stole trillions from the American people. They need to be prosecuted. America needs to follow the Iceland model for dealing with these people.

[DailyBail]

Who pays any attention to Santelli other than other greedy bankers and Wall Street dealers. He and his ilk stole trillions from the American people.

---

Richard

You are wrong.

Santelli has been loudly against every single bailout - including TARP. And he's against the Fed's continuing stealth bailout of banks. He works at the CME in Chicago, not on Wall Street. Yours is a very common, and very uninformed opinion.

Though I agree regarding Iceland.