Gov Motors reports $9bill profit, pays zero taxes, gives every union member $7,000 bonus, taxpayers get screwed
“General Motors reported year end earnings figures today. The company 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.”
“You know that dreaded feeling: waking up in the morning and knowing that you are sick. Your nose is running, there’s a tickle in your throat, your eyes are watering, and you feel like you haven’t slept well. Add an earache to that, and you will be downright miserable. An even worse scenario is when your child wakes up feeling this way. It’s no fun feeling sick and even less fun watching your child go through the misery of colds, allergies, and the flu.
When you feel or observe the telltale symptoms, how do you know what the root cause is? For a cold or the flu, you may treat the symptoms, but the sickness needs to run its course. For allergies, you may be able to avoid the allergen and treat the symptoms. What about an earache? Many things can cause that pain, some serious and some less so.”
“While you can survive without food for a few days, the body will grow more and more lethargic as the days march on. The longer you wait to feed yourself, the harder it is going to be to gather food. Soon you will not have any energy and starvation begins. Dying of starvation is a terrible way to go, and even going hungry will give way to other health problems. If you go too long without food, you will quickly find that your body ceases to work correctly and the simplest tasks become difficult. How do you procure food in an urban setting?”
“Google’s race to regain the high ground came after its latest admission to a devastating privacy glitch.
The slip-up was uncovered by a researcher at Stanford University, who discovered that the company had secretly overridden a block in Apple’s Safari browser that was meant to bar illicit tracking by advertisers.”
Via Financial Times
“One behavior that typifies corporate media is how they can readily dismiss an issue for years that has been addressed by the alternative media, then overnight embrace it as the “new reality.” Once the buried “conspiracy” issues become too obvious to ignore, then it is spin time.
So, too, with drones. Local media uncovered domestic testing of drones back in 2007, and additional research revealed testing having been coordinated over American soil even further back than that. Subsequent to exposure, the drone program was quickly revealed in all if its robotic glory: from micro-drones to nano-drones that mimic nature itself. Now, with the passage of the NDAA, we have been treated to the new U.S. battlefield and the need for all of the weapons of war to descend upon American soil, and hover in American skies. “
Via Activist Post
“Have you ever heard the claim that paying income tax is voluntary? The term “voluntary” is variously used in government documents, including the 1040 form itself, and some very naive people have actually taken this to mean that they don’t have to pay if they don’t want to. They think that “voluntary” actually means voluntary, as in the free exercise of human volition.
It’s an odd position that seems not to comprehend the meaning of the word “tax.” What makes a tax different from a contribution or a trade is that the revenue is extracted by force. You can choose not to comply just as you can choose to resist arrest. But then you must face the consequences. A truly voluntary tax is like a friendly insult, a peaceful war or a healthy cancer. The two words just don’t go together.
By the way, this point doesn’t apply to just the income tax. It is true for all taxes. You sometimes hear that excise taxes are voluntary because no one is forcing you to buy the taxed good or service. This is false. The point is that if you buy gasoline, cigarettes or anything else that is taxed at the point of sale, you have no choice but to fund the government with part of your purchase price. That is not voluntary.”