Based on facts from GM’s Tax Shelter story in the Wall Street Journal, July 31, 2009, A16 and comments from a recent Rush Limbaugh show. Written by Cameron Jackson cameronjacks@gmail.com
Obama has the state-run press in his hip pocket. And now he has a state-owned car company to run. General Motors should be called state-run Govt GM. What’s a President to do once he has a state-run car company to manage?
As a result of the car bailout, the Obama government owns General Motors 61% and the other 39% is owned by United Auto Workers retirement health care trust. Obama and his car czar gave Govt. GM a sweet deal — the company can claim a tax benefit from some $16 billion of net operating losses. This will allow Obama’s Govt. GM to not pay taxes for years to come. Wow. No taxes for Obama’s state-run car company!
Obama state -run Govt. GM has a huge tax break that no other company has. Obama’s car company is not operating on a level playing field with other car companies. The field is tilted to benefit Govt GM. For years to come, the state-run Govt GM will be able to sell cars and make a profit because of lower overhead.
Now that Obama has a car business what’s he going to do with it? Per Rush Limbaugh, Obama’s overall strategy is clear — weaken the private sector and grow the public sector. Obama’s strategy is to return the country to its rightful owners — the oppressed masses that have been exploited all these years.
What will the state-run Obama Govt. GM cars look like? They will be white because white cars stay much cooler. Also, white is not a threatening color as the color black can be. So no black Obama Govt GM cars. Some shades off white will be ok as well. If Obama Govt GM offers another color it will be substantially higher in price so that the customer pays for their “carbon footprint” at the time of purchase.
And the Obama Govt GM cars will be quite small. And streamlined so as to maximize fuel efficiency. Probably on the order of half the size of a VW beetle. Probably shaped like a beetle too — as that was aerodynamic for its time. On the other hand, there are all sorts of “smart” shapes out there for Obama to choose.
And who will buy the state-run Govt GM cars? When the price of gas goes above $5+ a gallon and Obama expands its Swap Your Clunker for a New Car program — that’s when lots of Americans will buy state-run OBama Govt GM cars. At least, so Obama dreams.
Remember all those those people who bought huge SUVs with no payment down and years to pay? That was back when gas was cheap. Now those people cannot afford those SUVs. And, especially for those who have lost their jobs or only work part-time, it really hurts their pocket book to drive vehicles that get 12 gal. to the mile.
This is why it is important news discussed by Rush Limbaugh today that Obama seeks bipartisan support for the Turn in Your Clunker Plan. Obama has big plans for how to run the country. And how to get Americans to drive a certain kind of car. Coming soon! Watch for them! Thousands of small, white beetles with head and tail lights shaped in an Obama Smile.
In his book, Dreams of My Father: A Story of Race and Inheritance, Obama discusses a tactic that he used dealing with white people: Just smile, be courteous and be very well mannered. Likewise, the Obama state-run Govt GM cars will be white, smile with their chrome headlights, and they will be courteous and well mannered (as they cannot accelerate fast). Dream on Obama! Dream on.
LORTAB
The Obama Dream:
Drive a small white smart car is the Obama answer to gas guzzlers. For bank guzzlers 9 banks got $33 billion from Obama with at least $1 million each paid to 5,000 employees.
The entire California deficit could be covered with $5 billion extra had those 500 bank employees NOT taken the bonuses. Think those cash guzzling bankers will drive small, white state run Govt.GM cars? Doubtful.