Posted on 04/30/2014 10:27:47 AM PDT by SeekAndFind
There, fixed it.
Exactly my first thought. As long as the government lost it and not taxpayers I guess we’re okay then.
And the debt holders lost even more...
Yeah, I didn’t recall the exact particulars so I wasn’t able to provide that info. I appreciate the mention. Now that you have, I do remember it. I may be wrong here, but I believe that was at least one other public instance of that.
I tell people I will never buy a GM car. My reason is always...because I have already paid for 2-3 through the bailout.
More like GM robbed America of $11.2 billion. This allowed
them to make better deals on their junk cars and trucks
over everyone else. That is as un-American a business
practice as hireing wetbacks.
GM was the chosen winner by our fascist government and
a crony capitalist company.
They need to be put out of business.
More like GM robbed America of $11.2 billion. This allowed
them to make better deals on their junk cars and trucks
over everyone else. That is as un-American a business
practice as hireing wetbacks.
GM was the chosen winner by our fascist government and
a crony capitalist company.
They need to be put out of business.
_________________________
POST OF THE DAY! POST OF THE DAY! POST OF THE DAY! POST OF THE DAY! POST OF THE DAY! POST OF THE DAY!
The US government lost nothing. They took our money and flushed it down the GM toilet.
I share your sentiment, but what cell phone do you use?
GM's revenue was $151 Billion in 2013. Not sure how much of that is payroll, but let's assume just 10% is. That's $15 billion in payroll. And now let's assume income taxes of 15% on that $15 billion = $2.25 Billion per year in income taxes.
Did you get that? It cost $11 billion to save a company that generates $2.25 billion in individual income taxes.
Now add any corporate taxes received. And then consider the cost we avoided by having all of those people unemployed and on the government benefit programs.
Then also consider the sales taxes and property taxes going to the state/local economies.
This is treasonous behavior and all should be tried and if guilty, executed.
The government lost??? Huh. April 15th I wrote a big ass check to the government. I don’t think they lost anything.
You also need to include the loss of capital by the bond holders who were stiffed.
The UAW has it.
What about the $45 Billion in tax breaks for the next 20 years ? I guess that does not count !
True, that's the part I didn't like about the way it was done.
But that's also a one time cost, whereas the money pumped into payrolls and taxes are recurring every year.
Do I have the math correct? Assuming a car cost $20,000, that $11.2 billion would’ve bought 560,000 new cars. This might have been a better way to save the economy....have a national lottery and give US manufactured cars to the 560,000 winners (sarcasm, I think)
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.
