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News

Obama-connected General Electric paid no taxes on $14 billion profit

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From the Weekly Standard, a possible explanation of why GE CEO Jeffrey Immelt is tightly linked to Barack Obama.

Excerpt:

General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. “GE was able to utilize all of these various loopholes, all of these various deductions–it’s legal,” Ryan said. Nine billion dollars of GE’s profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn’t taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.

“I asked the GE tax officer, ‘How long was your tax form?'” Ryan said. “He said, ‘Well, we file electronically, we don’t measure in pages.'” Ryan asked for an estimate, which came back at a stunning 57,000 pages. When Ryan relayed the story at the townhall meeting in Janesville, there were audible gasps from the crowd.

Meanwhile, Obama’s General Motors bailout is going to cost taxpayers at least $23.6 billion dollars.

Excerpt:

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.’s steep stock decline.

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

Obama’s millionaires and billionaires get another bailout and taxpayers get the bill.

Related posts

Mentoring

Why do Christians leave the faith? The surprising importance of apologetics

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From Black, White and Gray.

Excerpt:

Several colleagues and I recently finished a study of why Christians leave the faith, and we were surprised at what made a difference as well what didn’t seem to matter. In the next few weeks, I’ll be reviewing our findings in a series of posts.

To start with, let me tell you how we conducted our study. We were interested in how people who left the faith—let’s call them deconverts—explained their actions; i.e., why did they think they left the faith. In order to do this, we found a website on-line in which former Christians post their “testimonials” about their religious history. We chose 50 of these testimonials and read, reread, and reread again each one and then we discussed them as a group. Our goal was to find themes in these deconversion narratives, and several themes did emerge.

[…]All told, we found four general explanations offered by these 50 people as to why they left Christianity.

The first explanation regards intellectual and theological concerns about the faith. A full two-thirds of the testimony writers emphasized these concerns and some wrote about little else.

Some of the intellectual concerns were issues that would be faced by members of any religion, not just Christianity. For example, what is the relationship between religion and science? Does believing in one negate the other? What is the role of logic versus faith?

One man, who was a fundamentalist Christian in young adulthood, defined faith and reason as mutually contradictory, and he described his departure from Christianity as a victory of reason. He wrote: “for most of us, the battle was entirely within ourselves. It was a pitched battle between our faith and our reason, and eventually our reason just refused to be suppressed any longer, no matter what the potential consequences.”

Many other writers, though, focused on theological issues specific to Christianity. One of the issues that arose with the existence of hell and how that could be reconciled with the Christian image of a loving God. Basically, how could a loving God throw his children into hell for eternity?

A man raised as a Baptist expressed what he viewed as a contradiction between love and hell: “Would a loving father really not allow some people to have a chance and send them to hell for eternity? I don’t think so!”

One woman, who loved her grandparents, now deceased, wondered how God could condemn them for not having believed in Him. She exclaimed: “what the hell kind of jerk was God if he’d condemn people like my grandparents?”

A related theological issue regarded human suffering here on Earth. If God is powerful and loving, why is there suffering? One writer likened God’s allowance of suffering to a negligent police officer. ““What if a police officer sat and watched silently as a child was murdered even though he had the power to stop it?”

Other writers attributed to God a more active role in human suffering, often pointing to His actions in the Old Testament. A former Methodist wrote of his doubts about God starting early in his life when he learned about Noah’s Ark. “The turning argument for me was actually a story that is in children’s Sunday school books – Noah’s Ark. I started to really think about the fact that God pretty much killed the ENTIRE planet.” Similarly, a former Pentecostal described God’s actions in the Old Testament as “atrocity after atrocity.”

The final frequently-expressed concern regarded the Bible and its reliability. Is it accurate? Is it believable? A former Catholic dismissed the Bible altogether. She wrote: “Science has all but proven that the Old Testament could not have happened. It is also fast proving that the New Testament is nothing but fiction.”

My friend ECM had a different take on it, commenting on Facebook:

I’m going to go out on a limb and state that most people simply don’t care.

You can refute arguments/do apologetics all day long to the run-of-the-mill village atheist, but that’s not going to do you much good in reaching the average non-believer since they’re generally apathetic about the whole project–God, etc., simply has no impact on their daily lives.

What I think would help is if *actual* Christians walked the walk a bit–I think this is, really, the crux of your problem. Too many of you say you believe in God and are Christians, but how many actually abide by the general strictures of the faith?

This has a rather disconcerting effect on non-believers and it makes people like me, who are at least open to the idea*, more wary because how can I very well take you seriously if you’re not actually practicing it? It smacks of “do as I say, not as I do.” (It also gives the media et al a hammer w/ which to beat Christians over the head with ad nauseaum, causing massive damage to credibility.)

(It doesn’t give me an pleasure in saying any of this, but there it is from someone that’s at least open to the concept.)

(And please! Please let’s not turn this into a thread on apologetics aimed at ‘showing me the light’–I know all the arguments and have gone over them a thousand times w/ the Knight via email, chat, etc., so I’m well-versed on all it.)

*I would classify myself as a small ‘d’ deist.

I should clarify: when I say “average non-believer” I am also referring to, in far too many (most?) cases, those that actually profess a belief in God and identify as Christian.

And my friend Dina wrote this:

Apologetics should be more than winning debates with athiests. Today, defending the faith ought to be more concerned with ridding the church of the crowd pleasing rot that has infiltrated it over the last century. The problem is exactly what Eriku and lots of us see in professing Christians. Sadly, many many people who profess to be Christians are no different from the world, so the world views us all as either hypocrites or liars. Times may change, society may change but God and the bible does not. The bible is the only rule to direct us and while philosophy has much to offer, if it backs up the bible do we need it in the first place? If it goes against the bible, then its worthless man made opinions. The problems with Christianity started in the church, and the solution will have to start in the church as well. He did it before and He will do it again.

I replied and said that stronger, more consistent Christians are important, but I think apologetics is needed in order to build them up – because, as I’ve written before – people only act Christianly when they have reasons to believe that Christianity is objectively true.

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Videos

Answering the question “Who Designed the Designer?”

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From Jay Richards.

The Privileged Planet

Jay Richards is famous for his work on Christianity and economics, but he is also very good at origins issues, having co-authored the famous book “The Privileged Planet”. The thesis of the book is that there is a correlation between the conditions needed for habitability and the conditions needed for “measurability”. For example, you can ask the question “where is the best place in the universe to observe a solar eclipse?” The answer is “The same place that is also best for complex life to exist”.

Here’s an introduction.

Excerpt:

The fact that our atmosphere is clear; that our moon is just the right size and distance from Earth, and that its gravity stabilizes Earth’s rotation; that our position in our galaxy is just so; that our sun is its precise mass and composition — all of these facts and many more not only are necessary for Earth’s habitability but also have been surprisingly crucial to the discovery and measurement of the universe by scientists. Mankind is unusually well positioned to decipher the cosmos. Were we merely lucky in this regard? Scrutinize the universe with the best tools of modern science and you’ll find that a place with the proper conditions for intelligent life will also afford its inhabitants an exceptionally clear view of the universe. Such so-called habitable zones are rare in the universe, and even these may be devoid of life. But if there is another civilization out there, it will also enjoy a clear vantage point for searching the cosmos, and maybe even for finding us.

To put it both more technically and more generally, “measurability” seems to correlate with “habitability.” Is this correlation simply a strange coincidence? And even if it has some explanation, is it significant?

Or you can watch an hour-long DVD on Youtube:

You can find more articles by Jay Richards on the Privileged Planet web site.