Mr. President, why don't you follow the GM model and help business?

Discussion in 'Politics' started by asterism, Nov 19, 2010.

  1. asterism
    Offline

    asterism Congress != Progress

    Joined:
    Jul 29, 2010
    Messages:
    8,592
    Thanks Received:
    906
    Trophy Points:
    190
    Location:
    Central Florida
    Ratings:
    +1,073
    Mr. President, you spoke about how you saved an entire industry by providing critical capital to a deserving company in a time of need. You then made an investment and bought some stock, gave $45 Billion in future tax breaks (not the "targeted" kind, the kind where taxable income is zero thereby paying no taxes below a certain level), and then sold a third of the stock on the open market for a loss. Then you allowed GM to offshore jobs, close factories, and lay off workers. You then set two subsidies for their flagship product in the way of granting a tax credit to new buyers and granting government-guaranteed financing.

    Clearly you think this model works, so why don't you apply it to all businesses? What made a failing GM deserving? Tell you what, I'll meet you more than halfway. I'll take tax breaks proportionate to the ones you gave GM and I won't lay off a single employee. I won't offshore any jobs and I won't close any divisions. For a proportionate share of the loan you gave GM, I'll finance my customers myself. If they default and it causes me to default, I'll even pay half of it back.

    Deal?


    Review & Outlook: An IPO for Uncle - WSJ.com
     
    • Thank You! Thank You! x 1
  2. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,241
    Thanks Received:
    14,915
    Trophy Points:
    2,210
    Ratings:
    +37,025
    GM Business Model: Fuck the debt and equity holders to transfer wealth to the UAW.
     
  3. asterism
    Offline

    asterism Congress != Progress

    Joined:
    Jul 29, 2010
    Messages:
    8,592
    Thanks Received:
    906
    Trophy Points:
    190
    Location:
    Central Florida
    Ratings:
    +1,073
    Good point, I need to add that I'll liquidate all my holdings before any of my bondholders lose a cent of principal (easy for me, I don't have any).
     
    Last edited: Nov 19, 2010
  4. hortysir
    Offline

    hortysir In Memorial of 47

    Joined:
    Apr 30, 2010
    Messages:
    20,459
    Thanks Received:
    4,027
    Trophy Points:
    270
    Location:
    Lakeland, FL
    Ratings:
    +6,296
    :clap2::clap2::clap2:
     
  5. asterism
    Offline

    asterism Congress != Progress

    Joined:
    Jul 29, 2010
    Messages:
    8,592
    Thanks Received:
    906
    Trophy Points:
    190
    Location:
    Central Florida
    Ratings:
    +1,073
    Progressives, if Obama thinks this will work for GM why won't it work for me? I don't even need the money up front, just the same type of tax breaks GM gets on the back end.
     

Share This Page