Posted on 01/14/2011 2:00:31 PM PST by NoLibZone
General Motors shored up its underfunded pension plans Friday by giving them 60.6 million shares of common stock worth roughly $2 billion. It's in addition to $4 billion in cash that the company paid the plans in December.
THE PROBLEM: At the end of 2009, the last time the plans were valued, GM's pensions inside and outside the U.S. were $27.4 billion short of their obligations.
(Excerpt) Read more at forbes.com ...
GM’s 45 Billion dollar tax break shows that democrats know that Conservatives are right.
Tax breaks for businesses create jobs.
Government Motors can’t go out of business fast enough. Does anyone think GM getting a huge tax break makes it a level playing field?
The list, ping
Let me know if you would like to be on or off the ping list
Note- GM gets $45 billion Tax Break
TRANSLATION: the REST of us saps get to pick up the slack.
In reality, GM doesn’t pay ANY taxes: NO business does!
They count it as a cost of doing business and it gets added to the final cost of any product sold.
The purchasers of their merchandise ACTUALLY pay the ‘taxes’. The business merely COLLECTs the money from consumers and deliver it to the GOVERNMENT.
(Yeah; it WOULD be more efficient to get the taxes on April 15th, but all HELL would break out when the taxpayer REALLY saw how much of his money was going to GOVERNMENT!)
Ford will not be able to compete with Government Motors.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.