The rule breaking continues: GM gets $16 billion tax break
Government decisions are by nature arbitrary, it is one element that makes them dangerous. Another is that the government has a very strong incentive to use those decisions to increase its power.
In this case, the law-breaking for Obama continues, with "New GM" getting a $16 billion tax credit thanks to "Old GM." The fact that this is explicitly against the tax laws of this country means nothing anymore: the government owns GM, the government controls the taxes, why not just let GM not pay taxes? Sure its unfair, illegal, anti-competitive, and exactly what the administration swore it would not do, but who cares it is "to the benefit of all parties." All except every other (more competitive and not bankrupt) car company, and consumers, and just about anyone except for GM and the US Govt.
If this administration is heading down a very dark road, setting the US to lose all competitive edge and become a second-rate nation of the world. Nationalizing companies? Breaking the law in order to give those companies an edge over the competition? I feel like I am living in a South American state, not the United States (and even that is unfair to a number of South American states).
In this case, the law-breaking for Obama continues, with "New GM" getting a $16 billion tax credit thanks to "Old GM." The fact that this is explicitly against the tax laws of this country means nothing anymore: the government owns GM, the government controls the taxes, why not just let GM not pay taxes? Sure its unfair, illegal, anti-competitive, and exactly what the administration swore it would not do, but who cares it is "to the benefit of all parties." All except every other (more competitive and not bankrupt) car company, and consumers, and just about anyone except for GM and the US Govt.
If this administration is heading down a very dark road, setting the US to lose all competitive edge and become a second-rate nation of the world. Nationalizing companies? Breaking the law in order to give those companies an edge over the competition? I feel like I am living in a South American state, not the United States (and even that is unfair to a number of South American states).
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