A while back some here claimed that the GM/UAW bailout cost the taxpayers nothing. So now it's looking like Obama redistributed about $35 Billion from taxpayers, and GM bond/stockholders, to his loyal union backers.
How much is that per vote? How many taxpayer millions will be recycled to his current campaign?
"Those shares were worth about $9.8 billion as of Monday. That would leave taxpayers with a loss of $16.6 billion.
Anyone here bought a Volt lately?
How much is that per vote? How many taxpayer millions will be recycled to his current campaign?
"Those shares were worth about $9.8 billion as of Monday. That would leave taxpayers with a loss of $16.6 billion.
But that's not the full tally. Obama let GM keep $45 billion in past
losses to offset future profits. Those are usually wiped out or slashed,
along with debts, in bankruptcy. But the administration essentially
gifted $45 billion in write-offs (book value $18 billion) to GM. So when
GM earned a $7.6 billion profit in 2011 (more on that below), it paid
no taxes.
Anyone here bought a Volt lately?
