What Journalistic Integrity?

When you see graphs like the one below, you realize most journalists and journalism entities are led around to ridiculous lengths.  I’ve seen the graph before but haven’t written about it – until I kept hearing about the nonsensical witch hunts being perpetrated by House Republican Teabaggers like Darrel Issa and Fred Upton.  The activities they pursue would qualify them for immediate removal from office in a country with values.

On a related note, I’m sure glad then-Speaker Pelosi decided not to investigate the Bush Administration’s handling of the Iraq and Afghanistan invasions and occupations.  No, investigating that would have destroyed the comity of the House.  Real waste, fraud & abuse?  Swept under the rug by Democrats intent on maintaining power.  Fake waste, fraud & abuse?  Ratcheted up to conspiratorial heights by Republican Teabaggers and abetted by the corporate media.

Quick Hit: Wal-Mart Bill on the way to Gov. Ritter’s Desk

From a press release from Colorado’s House staff yesterday:

A bill limiting a tax evasion scheme used by Wal-Mart and other large corporations is on its way to Governor Bill Ritter after final passage by the House this morning [Mar. 11th].  Sponsored by State Representative Claire Levy (D-Boulder) and Senator Jennifer Veiga (D-Denver), House Bill 1093 aims to increase corporate transparency, disclosure, and fair payment of taxes owed.

[...]

The Wall Street Journal and others have noted that Wal-Mart pays itself rent and calls that a tax-deductible business expense, thus skirting payment of standard taxes.  The Journal notes that Wal-Mart avoided paying $350 million in state taxes between 1998 and 2001.

Rep. Levy explained that federal tax law created REITs to allow small investors to participate in real estate markets that would otherwise require very large amounts of capital.  Legitimate use of REITs is not affected by this bill.  The bill implements the long-standing policy in Colorado that corporate profits earned in the state are subject to state tax, and it distinguishes between valid Real Estate Investment Trusts and Captive REITs such as Wal-Mart.

This is at least in part due to the Cons’ insistence that responsibility for actions be expected.  They were talking about personal responsibility while hypocritically turning a blind-eye to corporate responsibility.  It’s bills like this that make me glad the Democrats are in control of Colorado’s government.  Thank you, Rep. Levy and Sen. Veiga.