Tag Archives: Mafia

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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.

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SEIU union thugs rage against private citizen on his own front lawn

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SEIU union thugs storm private citizen's home

Story here from CNN Money. (H/T Peter Sean Bradley at Lex Communis)

Excerpt:

Last Sunday, on a peaceful, sun-crisp afternoon, our toddler finally napping upstairs, my front yard exploded with 500 screaming, placard-waving strangers on a mission to intimidate my neighbor, Greg Baer. Baer is deputy general counsel for corporate law at Bank of America (BAC, Fortune 500), a senior executive based in Washington, D.C. And that — in the minds of the organizers at the politically influential Service Employees International Union and a Chicago outfit called National Political Action — makes his family fair game.

[…]As bullhorns rattled with stories of debtor calls and foreclosed homes, Baer’s teenage son Jack — alone in the house — locked himself in the bathroom. “When are they going to leave?” Jack pleaded when I called to check on him.

[…]Now this event would accurately be called a “protest” if it were taking place at, say, a bank or the U.S. Capitol. But when hundreds of loud and angry strangers are descending on your family, your children, and your home, a more apt description of this assemblage would be “mob.” Intimidation was the whole point of this exercise, and it worked-even on the police. A trio of officers who belatedly answered our calls confessed a fear that arrests might “incite” these trespassers.

And why were the SEIU trying to intimidate a private citizen on his own property?

[Bank of America] is the union’s lender of choice — and SEIU, suffering financially, owes the bank nearly $4 million in interest and fees. Bank of America declined comment on the loans.

Now you know everything you need to know about the people who get Democrats elected. When I think of the SEIU, I think of Hitler’s brown-shirts. (Just as when I think of Obama’s former employer ACORN, I think of the mafia).

This new tactic of violent intimidation defines what it means to be a Democrat today. They don’t want to debate with those who disagree with them, they want to shout obscenities and intimidate dissenters with threats of violence and vandalism – or to attack people and their property, if that’s what is needed. There was a time when Democrats were a mainstream, respectable party – the party of JFK. But that time is gone.

It’s not difficult for me to compare Democrats gangs with the socialist Greek rioters who murdered three people while burning down a bank – it’s the next stage of the “striking” and “community organizing” that the left is so fond of. They want their inflated salaries, their pensions, and their generous health care plans – and they will use violence and intimidation in order to get someone else’s money to pay for it.