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Feb 20 2012

Government Motors Dodges Taxes

Tax-dodging crony capitalist extraordinaire Warren Buffett provides propaganda support for the Obama Regime by croaking that he pays taxes at a lower rate than his secretary. Coincidentally, so do Obama’s pals at taxpayer-subsidized Government Motors:

General Motors … made about $9 billion dollars in 2011. How much of its “fair share” is GM paying in taxes? Zero. In fact, from GM’s financial report, they actually received a “benefit” of $110 million for the year. The UAW benefited as well, as they are set to receive $7,000 per worker in profit sharing bonuses.

The sweet tax deal GM receives was set up by the Obama Administration as the company was granted a multi-billion dollar tax credit for loss carry-overs when they exited their bankruptcy proceeding. Normally, the company would not have received the tax credit but the bankruptcy process was anything but normal. Creditors were put in the back of the line to protect UAW interests and tax code was changed so that GM could profit for years without paying its fair share in taxes. President Obama now campaigns on the perceived success at GM and any help he can give to the company will result in additional votes come November. As taxpayers lose out, GM profits and shares the wealth with the politically favored UAW.

Obama’s buddies at GE don’t pay taxes either.

As Democrat donor Leona Helmsley liked to say, only little people pay taxes. Under socialism, little people are those who don’t have a seat at Big Government’s table.

government-motors-obama.jpg
It’s easier to turn a profit when you don’t pay taxes.

On a tip from AC.

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  • GM Car Of The Future

    Happy President’s Day, everyone…
    Don’t you wish we had a -real- one?
    I do. :-(

  • Hail The Amberlamps!

    Does the IRS pay taxes? The HHS? HUD?

    Of course a nationalized industry will not either.

    Another signpost, will the sheople read it?

  • Tatersalad

    The Barack Obama regime is not telling America the truth on actual, factual and authentic employment in the U.S. Here are the statistics on the figures which are being manipulated on T.V. by the liberal media:

    1. http://economics.about.com/od/unemploymentrate/f/labor_force.htm

    2. http://en.wikipedia.org/wiki/Labor_force

    3. The actual labor employment rate in the U.S. from 2009 to 2012: http://data.bls.gov/pdq/SurveyOutputServlet

    4. 49.5% of all Americans do NOT pay any form of income taxes and here is the proof:

    http://weaselzippers.us/2012/02/20/chart-of-the-day-49-5-of-all-americans-dont-pay-income-taxes/

  • geeknerd

    No corporation pays taxes. Sure, they may write quarterly checks to the IRS and state tax boards, but they just pass those costs on to the customer in higher prices, the employee in lower salaries and fewer new hires, and to stockholders in lower dividends.

  • wingmann

    When they pushed the creditors to the back of the bus,really under the bus,those holders were a** raped and not much was said…..what they did made me shudder because I knew the rule of law was lost with this
    p-RESIDENT.

    If you noticed,they overpaid for votes from the crminal UAW….$7000 per vote…but no worries ’cause the goobermint put a shakedown on BP for $20billion.

    This administration looks like a craven, Chicago-style street pimp always on the lookout for a bitch to slap.

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  • Ghost of FA Hayek

    This is effectively a tax on Ford, because they must compete in this same market.

  • Bob Roberts

    Hey, haven’t you heard the only corporations that are supposed to get dinged for trying to take advantage of the deliberate complexities of the tax code are those that have something to do with fossil fuels?

  • TED
  • 762×51

    HAHAHA, how many fools here are still paying taxes or as I call it liberal homage. Piss on these assholes and their Marxist, elitist system where cronies get a free ride, rich or poor and the rest of us are indenture servants. You cannot obey and opposed simultaneously. You CAN obey and piss and moan impotently at the same time but opposition means to STAND against. If we stop paying so that their redistribution system breaks down they will be stopped in their tracks. If every time they came for someone who didn’t pay into the punitive tax system that person was waiting for them with a weapon in their hand things would change pretty quickly. By continuing to obey and failing to oppose you teach your children to be slaves which may come in handy because that is how they will live.

    Clean up America, Kill a Communist.

  • Sinister66

    762×51 says:

    “HAHAHA, how many fools here are still paying taxes or as I call it liberal homage.”

    Actually you are. Everytime you buy fuel, or any other product. And everytime you pay your phone, cell, cable, and utility bill.

  • Kevin R.

    As the Roman empire slid into the dustbin of history, thanks in large part to massive taxes and regulations, the politically favored were given tax exempt status. In the days of the Roman republic (before empire) Roman citizens barely knew taxes, like American citizens a few generations ago.

    There really isn’t any other way politics works when the rule of law gets throw out. Politics becomes a matter of loyalties to powerful men and the favors and privileges the powerful men give to the loyal. It’s part of the breakdown of society when the rule of law gets replaced with Obamaism… Oh, Caesarism.

  • Sinister66

    the whole auto industry is screwed up.
    I’m trying to decide if I want to trade in my american built japanese toyota tundra for a mexican built american ford svt raptor.

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