Saturday, November 5, 2022

Johnson, Michels, Musk - why CEOs shouldn't be running bigger things

The last few days have given us quite a bit on how mediocre mega-rich white guys roll, haven't they?

Back here in Wisconsin, the rich guy scumminess is more of the good old-fashioned corruption kind, where they take care of their own.

They're not thinking of getting any taxpayer-funded contracts kicked back to their business, are they? Noooo, I'm sure this is all in good faith, Just like that Building a Better Wisconsin ad I've seen that is nothing but a 1-miniute infomercial for Michels Corp.

Michels isn't any cleaner in his own personal financial reporting to the public.

Funny how these rich folks all have these money-laundering ops that they won't entangle when the conflicts are asked about. Speakin

The Johnson story falls under "call me if this one sounds familiar."
The Johnson family's real estate investments include two waterfront homes with sweeping views worth a combined $3 million on the picturesque San Juan Islands in the state of Washington; four condominiums near a ski resort in Park City, Utah; three Florida houses worth a total of $4 million; a $1.5 million Washington, D.C., townhouse on Constitution Avenue; and two Fish Creek condominiums in Door County.

Johnson and his wife also have an LLC that owns the building and property for Pacur LLC, the Oshkosh plastics firm he sold in 2020. On his U.S. Senate financial disclosure form, Johnson said he receives between $100,000 and $1 million annually in rent on the property valued from $5 million to $25 million. The two Johnson family companies that own the most properties are JFT Investments and Atlas Capital RE....

In 2017, Johnson held up passage of Trump's tax bill by objecting to the plan's already generous tax break for pass-through businesses. Originally, the Trump administration proposed allowing business owners to deduct up to 17.4% of their profits. Johnson fought to increase that to 23%. The figure ended up at 20%.

Under the plan, a business owner who had $600,000 in profits in a year could deduct up to 20% of that sum, or $120,000, depending on the company's payroll and property holdings. There was no such deduction before 2017.
It gets pretty easy to do tax-advantaged investments when you write the tax code that allows you to get bigger write-offs for things you already do, eh? Meanwhile, we haven't been able to write off the mortgage interest on our one home for the last 5 years because of the same Tax Scam.

Maybe we shouldn't trust rich mediocre white guy CEOs to do anything beyond take care of themselves and their companies. They don't care about anything else, and in a lot of cases don't KNOW SHIT ABOUT ANYTHING ELSE.

Those are the last type of people that should be making the decisions that affect hundreds of millions of other Americans. Let's have less of them in charge of things after Tuesday, OK?


  1. Your standard deduction was raised, dumbass. You can still write it off if it's larger than the new larger standard deduction. Talk about 'mediocre!' You worthless fucks are going to get your stanky asses HANDED to you on Tuesday, and I can hardly wait!!

    1. To be fair - this guy is clearly on the payroll to do trolling BS like this. So it's kind of his "job."

      I mean, he can't possibly be such a loser that he's just this needy and hateful in real life. That would be so pathetic.

  2. That standard deduction didn't come close to the Tax Scam taking away our home, charity, and SALT deductions. Or the personal exemption. It was an epic failure, but it sure helped RoJo gets tens of millions in campaign kickbacks, didn't it?

    You GOPs live so far up your own backsides. You really don't get how we see through all this BS, do you? You have nothing beyond whining and fear (for the everyday MAGAt), and shameless, vapid point-keeping (for GOP staffers like you) .

    You don't see it coming, do you?

  3. I still want to know exactly what the Johnson Trust manufactures or grows in order to receive the Wisconsin Manufacturors and Agriculture tax credit that allows them to pay zero State taxes

  4. Oh, don't you worry geo. I'm sure RoJo and Glenn Grothman (who authored the M&A giveaway in the Legislature) and Hendricks/Uihlein talked it over and made sure it complied.

    Same thing for putting the house ownership into a "pass-through" LLC. RoJo made sure it was all "perfectly legal, and perfectly cool". Which you can do when you write the laws to help yourself.