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General Motors is becoming China Motors
05-31-2012, 01:09 PM
Post: #1
General Motors is becoming China Motors
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"The further a society drifts from truth, the more it will hate those that speak it." -George Orwell
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05-31-2012, 03:57 PM
Post: #2
RE: General Motors is becoming China Motors
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Disgusting. So blatant, yet so many asleep and don't see how shitty of a deal the Auto Bailouts were/are. A damn shame... a damn damn shame!

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05-31-2012, 10:22 PM (This post was last modified: 05-31-2012 10:44 PM by joerobo.)
Post: #3
RE: General Motors is becoming China Motors
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How do you say Channel Stuffing in Mandarin?

[Image: GM%20Channel%20Stuffing_0.jpg]
Large image

http://www.zerohedge.com/news/latest-par...l-stuffing
and.. http://www.zerohedge.com/news/chinese-ca...uts-arrive

"In addition to the more than $50 billion given to General Motors in the bailout, the Obama administration quietly snuck in a special tax break for GM, which allows the company to write off approximately $45 billion in post-bankruptcy losses against post-bankruptcy profits.

The result? In 2011, GM paid nothing in federal income taxes despite claiming record profits of $7.6 billion, the “highest profits in the 100 year history of that company” according to President Obama.

In fact, that’s not quite right. GM paid a tax rate of negative 1.5% on its record profits – less than nothing.

That’s right, while you were paying your income taxes last month, the IRS was sending General Motors a check for $110 million. And GM’s tax break is a gift that will keep on giving every year at tax time.

It’s good for twenty years. "
http://www.foxnews.com/opinion/2012/05/1...taxpayers/

Free billions, negative tax rate, faked sales numbers, and still only $22 a share. Mind boggling indeed.

Ron Paul 2012

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