Oh, and thanks for the $50 BILLION loan...
On Friday I speculated (yes, I 'speculate' in public) as to why President Obama would want to increase the existing $7,500 Tax Credit on Electric Vehicles to $10,000. IF the Chevrolet Volt is as good as GM says it is, people should be flocking to put down the $46,000 required to be one of the first kids on the block to own one.
Will this increased Tax Credit ever see the light of day? No, probably not. Why? Because the provision was in the President's Budget submitted to Congress last week.
That question you are probably asking yourself is, "Why won't the legislation move forward - what's preventing the President's Budget from being approved?" Excellent, question thanks for asking!
Well, that's because the Democratically-led Senate will not VOTE on the Obama budget submitted by the Democratically-led Executive Branch. It's TOXIC (and when other Democratic lawmakers realize this, um, it's really bad).
The interesting thing is that John Boehner, the Republican Speaker of the House, DOES want to vote on the President's Budget.
Why? Because "It's TOXIC." So much so that Boehner wants the Bill discussed so all Americans can hear what the President believes THEY ought to be spending THEIR money on. Since Congress hasn't passed a Constitutionally-Required Budget in over 1,000 days (that's over 8,500 days in 'dog days'), sure, what the heck, might as well vote on the Deficit-reducing, pro-Business, OWS-loving, and freedoms-reducing Obama Budget, right? At least it's something with 'Budget' in the title...
Huh, what's that? Sheesh, what's with all the questions today? Now you want to know why the Congress hasn't proposed a Budget in over three years?
Because for the two years the Democrats held the House and Senate, they were much too busy passing important life-altering legislation than to worry about, you know... Budgets. Health care needed fixing, Osama Bin-Laden needed to be killed (President Obama did this himself), the Economy needed to be trashed, and the military needed to be reduced, you know, since President Obama personally killed OBL.
And now that the Republican House Leadership has passed and submitted multiple Budgets to the Senate, Harry Reid won't allow votes on them. If nothing else, Harry Reid is consistent.
But alas, I have once again fallen victim to my own 'trackless' train of thought. Let's get back to the good stuff, shall we???
So why is the President hawking the $10,000 EV ('Electric Vehicle') Tax Credit in his proposed budget? It's a financial 'Shout Out' to the Union Workers who continue to benefit from President Obama's legislative decisions from a few years back. The credit may never see the light of day, but gosh golly, would a Republican throw the UAW dogs a 'virtual bone' like this? Yeah, probably.
Why? AGAIN WITH THE QUESTIONS!?!?! Yikes! Because not all Republicans are Conservative, of course. And when you're a moderate, a liberal, or a progressive, you 'Dance with the one who brung you' regardless of WHO you are.
However, if you get a REALLY Liberal Democrat President in the White House, you know he's going to give to the Unions what they want to garner their support... Anything.
Even once-independent car companies.
Check out the following from the homepage of the UAW website:
|OWS, Solidarity and Family Scholarship Values - It's all here!!!|
And how will these union-owned institutions repay the American people who loaned them $70+ BILLION dollars? According to the Wall Street Journal's Sharon Terlep:
General Motors Co. is freezing the pay of its 26,000 U.S. salaried employees and will eliminate its traditional pension contribution for those salaried workers who still receive them in moves to reduce financial risks and cut costs.
The Detroit company also will shrink the 2011 bonus for all salaried U.S. workers because it failed to meet its financial goals last year, people familiar with the matter said.
The changes come as GM prepares to disclose on Thursday a record annual profit of around $8 billion for 2011...
The company will pay smaller annual bonuses to most white-collar (non-union) workers despite an expected record profit because net income is only one factor in determining payouts…
The auto maker’s 48,500 United Auto Workers-represented hourly workers receive bonuses under a different formula, which hinges on profitability and quality.
Next up, an article from 'Sweetness & Light' quoting the Associated Press and discussing the projected bonuses provided to Union Workers at GM. Employees in a Union-Run Business (still owned are apparently NOT equal in the eyes of Union Leadership. (Okay, not really a surprise, but it does provide additional validation for the whole "Power corrupts, absolute power corrupts absolutely" quote).
I wonder, how many Americans know that THEY still own 27% of the 'New GM'? And if so, would they approve of the bonuses paid ONLY to Union Thugs (um, workers, I meant skilled-workers) in lieu of their getting repaid the still outstanding multi-Billion dollar debt to taxpayers? I wonder...
Okay, here we go, from Sweetness & Light (their commentary is in RED):
DETROIT (AP) – General Motors earned its largest profit ever in 2011, two years after it nearly collapsed into financial ruin… The 103-year-old company made $7.6 billion in 2011, up 62% from 2010.
Mind you, since 27% of GM is still owned by the government, these figures are, in effect, coming from the Obama administration as well as the United Auto Workers. So they are probably as accurate as the current unemployment numbers.
GM also said Thursday that its 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March. The checks are based on North American performance and are a record for the company...
GM is a vastly different company than it was then. It’s smaller and has less debt, and its contract with the United Auto Workers is less costly…
Yes, the UAW’s pension fund was bailed out, and the union was given the company they destroyed, in exchange for a "less costly" contract.
That is what is known as "fairness."
But it took a government bailout and a trip through bankruptcy protection in 2009 to cut its bloated costs. The restructured company was able to make record profit last year, even though U.S. auto sales were near historic lows at 12.8 million cars and trucks…
Again, these profit reports are coming from the Obama administration. And who knows how much they have been ‘seasonally adjusted’ to give Obama something to crow about?
Also bear in mind that GM will not have to pay any federal taxes for the next ten years. (Which was another payback to the UAW for their loyal support of Obama and the Democrat party.)
So, even though General Motors has made the biggest profit in its history, it will pay less tax than Warren Buffet’s secretary. — Where is the outrage?
Where's the outrage?
Oh, it's coming. Oh, but it's not from you.
It's from them, the Tin Men and Women of the UAW and their Brother and Sister Union organizations.
Check out the UAW.org website homepage today...
The 99% Spring is coming because, they say, "The 1% have stolen our democracy - That's why we're starting the 99% Spring". Shoot, based upon what I've read, it occurs to me that the only stealing going on from this bunch is FROM the 99%. And, thanks to the Obama Administration we're funding 27% of their springtime events on behalf of GM.
Get ready for the 99% Spring. It's gonna get weird.
I wonder if anyone will talk about it?
I know a few folks.