Beam me to Planet Gore !
Posted on 09/14/2011 8:47:54 PM PDT by meadsjn
From Sarah Palin, 16 minutes ago.
Tesla Motors, copied from another reprised thread from 2009
Tesla gets long-awaited government loan
San Francisco Business Times ^ | June 23, 2009 | Lindsay Riddell
Posted on Wednesday, September 14, 2011 11:08:22 PM by artichokegrower
Tesla Motors, makers of the first electric car that can travel more than 200 miles between charges, got its $465 million loan guarantee from the government Tuesday. Tesla has been banking on the guarantee for more than two years. The guarantee essentially insures the San Carlos-based company can borrow the money from financial partners to build a factory to produce for Tesla’s next-generation sedan, the Model S. The sedan will sell for around $45,000, that’s with a $7,500 tax credit from the government, and is about half the price of its first production vehicle, the high-end Tesla Roadster.
Tesla had struggled to raise money this year as banks essentially stopped lending amid the credit crisis and recession. Tesla Chairman Elon Musk essentially bankrolled the company with his own money through the beginning of the year. Tesla then signed a deal with Daimler AG, which took a 10 percent stake in the company in May. The Department of Energy had indicated that strategic partnerships with credit-worthy companies would be a major advantage as it evaluated to which companies it would award loan guarantees.
Whoo boy. Sarah Palin could clean house in Washington, DC. And the house in DC needs some cleaning.
With just one deal like that, what could a redneck NOT do?
No mention of Rick Perry in this Facebook post?
Sarah, call me. I can actually give you a winning strategy.
She right on Solyndra, but wrong on GE. “In fact, they claimed a tax benefit of $3.2 billion, meaning they received more of our hard earned tax dollars than they contributed.”
Tax benefit does NOT mean GE received our hard earned tax dollars. That’s just financial reporting speak. It’s not a tax refund.
And the voters will agree with you.
You should email your strategy to Gov. Perry.
Right away.
.
O.K. I will say it this time....
“RUN, SARAH, RUN”!
Porkulus did allow actual cash payments for losses... but in the traditional sense, a company could claim a tax benefit in loss years to offset profit in future years. But here is the kicker, some of those tax benefits are the result of "Profit difference between accrual and tax reporting"- meaning, yous showed Wall Street a profit but showed Uncle Sam a loss. So ultimately, the company gets a payment in the form of lower taxes in profit years.
Doesn’t this part of her article justify her statement “How is that possible? It’s because not only do they shelter their money from taxes, but they also get many tax credits, loans, government grants, and other benefits from the federal government that our smaller businesses couldn’t even imagine being able to profit from.”?
Tell us how tax benefit is calculated so that we can fairly judge her statement. I interpreted her statement to mean that GE was bringing in more money from the government through grants than it is paying out in taxes.
If she is wrong she is wrong, but please explain precisely how she is wrong. I am not trying to be snarky I just want to know.
Do you thimk the whole world revolves around t/rick perry? You just came off an over 300 post thread which YOU started ro trash Sarah Palin. Why don’t you just stop it? It’s old. It’s tiresome. And you sound like a ten year old. Gah!
I wouldn’t give GE the glowing accolades Sarah gives them. They’ve been in the tank for any corrupt administration or despotic regime where they can profit handsomely for at least a century, all the while manipulating US national security interests, and equipping our enemies with the latest and greatest. Now they’re in China, tooling them up for the next backstabbing. The more things change...
Sarah isn’t wrong. GE and Immelt enjoy many, many perks with this administration above and beyond taxes. Consider msnbc, or that all of our medical records will be catalogued by GE, or the lightbulb ban. ALL these things favor GE. And of course Immelt is part of obama’s jobs advisory staff, even as he is moving entire plants to China. Magritte supports perry. She/he won’t give Palin credit anyway.
Agreed. Giant corporations like GE have the most convoluted financial and tax statements and it is almost impossible to discern what really is going on with them. The $3.2 billion number CANNOT be called “Taxpayer money” however.
I missed your cool post before asking my question. Thanks for an informed response to the issue.
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