GE Profits Up 77%! But pays ZERO taxes.

President Obama "says" the rich should pay more

NYC, Apr 21, 2011. General Electric Corporation, one of President Barack Hussein Obama's, D-Kenya,  key corporate sponsors, has reported a 77% increase in first-quarter earnings.

This hefty increase in profits was sparked by an improvement at its GE Capital financing arm and gains at most of its industrial units.

Despite this, General Electric pays close to zero in Federal Income taxes. Last year GE paid no taxes on the $14 billion it earned in profits (including $5 billion from operations in the USA). 

How do they manage to get away with this? How did this happen?

Chairman and Chief Executive Jeff Immelt explains "Our environment continues to improve and get better,"  noting that the restructuring of GE Capital was ahead of plan while the quarter saw a record backlog of orders for its industrial products and services.

But there is a lot more to it. It's actually pretty complicated.

GE's tax return is the largest the IRS deals with each year... some 24,000 pages if printed out. Its annual report filed with the Securities and Exchange Commission weighs in at more than 700 pages.

Inside that report you will find that GE in effect consists of two divisions: General Electric Capital and everything else. The everything else - maker of engines, power plants, TV shows and the like would have paid a 22% tax rate if it was a standalone company. But they didn't pay any tax at all.

The real answer is "tax loopholes."

Large multinational corporations, especially those who sponsor President Obama and the Democrat Party, get to reap huge tax benefits because their lobbyists actually write their own tax laws and create all their own loopholes and exceptions.

They just hand their paid agents in Congress their "suggestions" and they are incorporated into the next bill they pass.

It doesn't even have to be a tax bill, they can insert their special tax avoidance schemes into any piece of legislation as an amendment.

They can insert them into the military budget, the transportation budget, even the education budget, just as long as they pass it into law.

It's important to remember that the Republicans will do this too, they just aren't as brazen about it. And this is why BOTH parties will aggressively slander the Tea Party Movement or any attempt to institute a fair or flat tax that eliminates special loopholes.

Politicians are up for sale to the highest bidder. 

For a few hundred thousand in campaign contributions they can buy literally millions (or even billions) of tax relief. And at the very same time they can demagogue the issue by ranting about how "the rich should pay more."

For the record, whenever a politician says "the rich must pay more" they really mean "the middle class," because the middle class pays almost all the income taxes in this country. The rich have their loopholes, and the poor don't earn enough to pay any tax, so there is only one revenue source left.... the Middle Class.

GE CEO Jeff Immelt explains why they pay no taxes

To a very large extent the Democrats can protect their middle class voters by paying huge salaries to government workers. 22 million people (roughly 16% of all people in the workforce) are employed by the Government.

These are the politicians, social workers, teachers, firemen, police, and sanitation workers.

Plus there is 12.4% of the workforce that belongs to large powerful unions like SEIU, the Steelworkers, the Teamsters or the UAW. The Democrats use your tax money to bail out their pensions and "save their jobs" when their employers are unprofitable.

Add those together and you have around 30 million hardcore Democrat Party voters and activists. Once you include their immediate families it is easy to see why the Democrats start with a base of 50 million guaranteed votes.

If you pay them enough they will always vote for Democrats, knowing full well that their higher taxes will be more than offset by even higher wages and benefits. This really isn't a question of "fairness" it's a question of greed. Government workers and members of large unions want the rest of you to pay more in taxes, so they can earn more for themselves.

The Democrats have absolutely NO desire to tax the rich. This is just political spin. Even Warren Buffett, (another Obama sponsor) openly brags about how his secretary pays a higher tax rate than he does.

If they truly wanted to "make the rich pay their fair share" then the solution is simple.... just take away all their loopholes.

Raising their tax rate accomplishes nothing as long as they have plenty of tax loopholes.

Standard & Poor's Slashes Obama's Credit Rating

"This is all Bush's fault"

NYC, Apr 19, 2011. Standard & Poor’s, one of the most respected and influential credit rating agencies, has issued a dire warning to Washington on Monday, cutting its outlook on US debt for the first time.

This throws more fuel on the raging debate over America’s swollen deficits, and casts doubt on the President's ability to continue funding his massive spending projects by borrowing money from foreign nations.

This action comes on the heels of the Chinese rating agency Dagong downgraded the credit rating of the U.S. debts from "AA" to "A+", citing its deteriorating debt repayment capability and drastic decline of the government's intention of debt repayment.

President Barack Hussein Obama, D-Kenya, says this has nothing to do with our nation's credit worthiness. "This is all about the massive amount of money we wasted on the Bush Library, and his foolish war in Iraq."

"If it wasn't for Bush wasting so much money this would not be happening today," the president continued. "This is why my plan to reduced our exposure in the middle east over the next 25 years and my plan for universal healthcare must be embraced by congress."

Doubts about our ability to pay back loans could threaten the dollar’s use as a global reserve currency amid the rise of rivals such as China that have better growth prospects and fewer fiscal challenges.

"We can always print more money"

The ratings agency forecast that the United States may face unpredictable risks in solvency in the coming one to two years and assigned a negative outlook on both local and foreign currency sovereign credit ratings of the United States.

The president's critics have suggested that our falling debt rating might be due to his profligate spending on lavish vacations and his generous bailouts for his corporate sponsors.

The administration rejects this saying that "this is just another case of white racism directed at a black man trying to do his job. White Presidents always get all the loans they want, but when a Black President needs a few extra trillion dollars, everyone wants to question his ability to pay it back."

Obama Adds $80,000 per Household to National Debt

We need much a much higher national debt

Washington DC, Apr 13, 2011. President Barack Hussein Obama, D-Kenya, now says he regrets voting against an increase in the government's debt ceiling in 2006.
Today he says that more debt is essential to preserving the full faith and credit of the United States.

On Monday, White House spokesman Jay Carney said then-Senator Obama made a mistake when he voted in 2006 against a measure to raise the debt ceiling a $3,500 billion to $8,600 billion.

This admission of pre-presidential misjudgment comes as incumbent President Obama pushes Congress to raise the debt ceiling above $14,300 billion. “He realizes now that raising the debt ceiling is so important to the health of this economy and the global economy that it is not a vote that, even when you are protesting an administration’s policies, you can play around with,” Carney said.

Carney’s acknowledgment of error comes two days before the president gives a national speech outlining his spending plans, and according to Carney, his vision of a “balanced” deficit-reduction plan. In the next few weeks, he’ll pressure GOP legislators to raise the debt ceiling, and so is likely to face charges from Republicans of flip-flopping on debt-ceiling votes.

“If they’re going to have him flip-flop, it’s probably a good idea to lay the groundwork in a press briefing,” said Dana Perino, press secretary for George W. Bush from 2007 to 2009.

White House spokesman Jay Carney issued this statement on behalf of the president Monday as he pressed Obama's case for a "clean" increase in the $14.3 trillion debt ceiling this spring.
 

"I don't know what I was thinking when I voted against raising the debt ceiling in 2006" President Obama told us.

"Maybe it was just something I did because I wanted President Bush to fail. But clearly, America needs much more debt if we are to recover from the horrible recession I inherited."

House Republicans who led the effort to cut spending in the 2011 budget that resulted in last Friday's deal to cut $38.5 billion are threatening to vote against the debt limit increase unless it's accompanied by more spending cuts or other austere budget measures.

White House officials are pushing for the increased debt ceiling because the president and allied Democrats have spent $3,000 billion more than incoming tax-revenue since 2008.

And they now want to spend at least $7,200 billion more than predicted tax revenues over the next decade to fund expansions in the size and reach of government, including Obamacare.

"Not nearly enough," President Obama quipped, but a good start. At least we'd be heading in the right direction.

The debt to be incurred over the next 10 years, according to the Heritage Foundation, amounts to $80,000 per household. There could be a real problem for the president if employment rates keep declining, and the number of taxpayers keeps shrinking. "We can always print more money," he offered as a solution.

Congress offers bill to pay soldiers; Obama threatens veto

With a snap of his fingers he could have you killed!

Washington DC. Apr 7, 2011. President Barack Hussein Obama, D-Kenya, continues to play politics with America's budget crisis.

Since the Democrat controlled Congress failed to pass a 2011 budget last October, President Obama has now decided to now blame the new Republican House for this intransigence of the Democrats.

And he's pretty confident that his voters will fall for it. They tried this trick before, and it worked like a charm. All you need is very stupid voters.

President Obama and the Democrats have been "kicking the can" down the street for over six months now by sponsoring and approving multiple "temporary continuing resolutions" to fund the government for one or two more weeks without a formal budget.

"I have no idea what I'm doing"

The Obama plan is to keep kicking the can downstream until the next president is sworn in on January 21st 2013. Then, he can retire and hit the leftwing lecture circuit, and collect six figures for one hour speaking engagements like former President Clinton does.

The latest chapter in the Obama Budget Debaucle was caused by the GOP's refusal to vote for a budget that spends more money that last year's budget that had a $1.6 Trillion deficit. So they modestly requested a $61 billion cut.

Lets put this in perspective. A $61 billion cut on a $3.83 trillion budget amounts to exactly a 1.5% cut.

This means 98.5% of the funds are still there. This is the equivalent of having a budget of $3,830 for  something and being forced to only spend $3,769! Hardly a draconian cut.

Put this in the context of an Administration whose spending is so out of control that they must borrow $4 billion PER DAY from China just to get by. And they just can't seem to find a way to cut 1.5% of this money!

Will Hillary get the last laugh?

President Obama and the Democrats went to their usual strategy to preserve every penny of spending. They accused the GOP of wanting to starve old people, kill children, fire police and firefighters, and not pay our soldiers.

They made absolutely no mention about "cutting spending for tattoo removal in California, or Cowboy Poetry Festivals in Nevada, or genital washing clinics in Nigeria.

They just bring up the things we all can agree on, while not mentioning the rest.

And then the Democrats offered their counter proposal. They would agree to cut $33 billion, which "meets the GOP more than half way." They feel a 0.7% cut is more than sufficient in a time when you are running a $1.6 Trillion deficit.

The Democrats then cleverly reminded America that not only would the GOP proposed cuts starve old people and kill children, but would result in our soldiers going unpaid too!

The Republicans then offered a bill to guarantee that soldiers would be paid and Social Security would be unaffected. But President Obama, D-Kenya, now says he will veto this bill if it comes to his desk. He calls it a "distraction" and warns that this tiny budget cut will "ruin his economic recovery"..... which hasn't even started yet.

The President is convinced we need to borrow 40 cents of every dollar we spend, and he says we can't cut any of it.

All of that genital washing and Cowboy poetry is vital for his recovery.

And we are in our third year of patiently waiting for that recovery to happen, while Obama keeps piling on more and more national debt.

And after President Obama vetoes the bill that requires that soldiers get paid, he will blame the GOP if they don't get paid.

And he will probably get away with it, because his fans really are that stupid.

Profiles in Stupidity: Senator Patty Murray

"Huh?"

This is the fourth installment of. "Profiles in Stupidity" in which we  highlight the dumbest politicians in America today.

Patricia "Patty" Murray is the senior United States Senator from Washington. A Democrat, Murray was first elected to the Senate in 1992. She was re-elected in 1998, 2004 and 2010. She is the fourth highest-ranking Democrat and the highest-ranking woman in the Senate

Patty Murray is not only the stupidest person who ever served in our Congress, she is arguably the stupidest person who was ever alive. It is impossible to call any Republican "stupid" as long as Patty Murray is alive.

Soon after being elected to the U.S. Senate in 1992, Murray went on a radio show and said:

"When I was growing up, the big fear in my life was the nuclear war. I remember second- and third-grade teachers giving us skills to deal with it, if that big alarm goes off, which was 'Hide under your desk.' Would that do any good? I don't know."

Patty Murray just doesn't know. But back in 1962 we really thought that doing these things would minimize casualties from broken glass and other debris. This would surely help in areas farther from the blast site, where the concussion was less severe. In any case, it certainly couldn't hurt.

Despite her lack of confidence in bomb drills, she thinks that "counseling" will help children deal with school shootings. She went on to say:

"Today the biggest fear our kids live with is whether ... the kid beside them has a gun. We have to give them skills so they feel confident to deal with it."

Muslim Daycare

After Murray was elected to the U.S. Senate, the Democrats tried to keep her locked in her office to prevent her from saying anything that might end up in a newspaper. And this worked pretty well for a while, but she eventually got loose.

In the confusion following the 9/11 attack, Patty Murray had this to say this about Osama bin Laden's many good qualities:

"He's been out in these countries for decades, building schools, building roads, building infrastructure, building day-care facilities, building health-care facilities, and the people are extremely grateful."

"He's made their lives better. We haven't done that. "

Ms. Murray drew a stark contrast between the benevolent and truly helpful terrorist, and the selfish and mean spirited USA:

"How would they look at us today if we had been there helping them with some of that rather than just being the people who are going to bomb in Iraq and go to Afghanistan?"

Only a complete idiot would think that Osama was building "day-care facilities." The Taliban did not permit women to have jobs, much less leave the home unescorted by a male family member. And even then they had to be covered from head to toe in a burka, less any Moslem male be excited by the sight of their facial hair and missing teeth. Fundamentalist Moslem women just don't need day care facilities.

It takes a real dope like Murray to imagine that Osama is a champion for womens rights.

This idiot suggests that we should have responded to the 911 attack by building day care centers and health care facilities in the nation that hosted and enabled these terrorists! If we had just done that, then would have felt guilty about providing sanctuary for a global terrorist group!

Murray's college major was "recreation," so you know right away she is no threat to Albert Einstein. But the people in Washington State decided to elect her four times! Proving that they can't be too bright either.

86 Year Old Volunteer Sued by Union

Warren Eschenbach, an 86-year-old a retired Wausau Water Works employee volunteers his time as a crossing guard at the Riverview Elementary School in Wausau, Wisconsin.

After the Wausau School District built an area just outside the school for parents to pickup their kids, the intersection became busier than usual for a short time each day.

Eschenbach did a noble thing. He went over to the school and spoke with parents, kids and administrators, and he volunteered to patrol the area at pickup time to make sure kids got to their parents’ cars and that others crossed the streets safely.

He had previously worked for five years as a crossing guard at the Franklin Elementary School until three years ago. He lives two doors down and it’s for a half hour every day. Who could take issue with that?

Well, apparently union bosses can.

Thanks to union grievance procedures, the union representing school crossing guards filed a formal complaint over this sweet old man volunteering to get the kids across the street safely. And according to the union, only a highly paid government employee should be permitted to do that job.

John Spiegelhoff, a local union rep for American Federation of State, County, and Municipal Employees Local 1287 (AFSCME) wants to know if the 86-year-old retiree has undergone a background check. And if he has liability insurance. AFSCME insists that Eschenbach is “undermining the union” and has demanded that the city get rid of him and replace him with a paid union worker at $12.65 an hour.

The city has been cutting back crossing guard hours from 15 hours a week to 10 a week. Of course, the elderly volunteer isn’t a volunteer with the city, he volunteers with the school.

Since the pickup location is newly restructured, there hadn’t ever been the need to have a crossing guard there. There was no prior job this gentleman has taken away from the union. Really, the guy just lives right there and thought he’d help out.

 

Riverside Elementary School Principal Steve Miller was shocked.

“Here we have a community member who’s giving back to the community and offering something to the children to keep them safe and so I just view it as a good thing and I’m not sure why someone would find fault with that but obviously somebody has.”

After AFSCME filed a grievance regarding the matter last October, it was recently denied by the Police Department, the Human Resources Department and the Human Resources Committee. Next step: arbitration, if the union so chooses.

Fifth-grader Megan Sichterman, told WAOW, an ABC affiliate, "I was really sad because all the kids really like him. He's really nice to everybody, and I was kind of scared at the same time that we wouldn't see him on the corner anymore."

Barack Hussein Obama - Liar or Hypocrite?

Washington DC. Apr 3, 2011. President Barack Hussein Obama, D-Kenya, seems to have a serious problem contradicting himself.

It seems he is now embracing positions 180 degrees away from positions he held just a few years ago.

This is a sure sign of a man without principle or conviction. Someone who is just playing politics and feels no need to take a consistent stand on anything.

Of course, no one among his fawning media fans will call him on this, so the general public is unaware at how much he flip-flops on issues. But the Spin Cycle isn't like the rest. We just report the truth. For example:

The Libya War

In 2007 Sen. Barack Hussein Obama emphatically stated that:

"the Constitution does not give the president the authority to unilaterally authorize a military attack unless it is needed to stop an actual or imminent attack on the United States."

In 2011 President Barack Hussein Obama said:

"Today I authorized the Armed Forces of the United States to begin a limited military action in Libya in support of an international effort to protect Libyan civilians. That action has now begun."

There was no Congressional authorization, and there was no actual or imminent threat to the USA according to his own Secretary of Defense Robert Gates. The President made this attack for "humanitarian reasons."

Raising the Debt Ceiling

Upon casting a vote against raising the debt ceiling in 2006, Mr. Obama said, in part:

"America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."

But today, in 2011, President Obama wants our Debt Ceiling raised again!

And today it's 60% higher than it was in 2006, thanks to the last five years of profligate spending by Congressional Democrats and President Obama's own failed stimulus plan and generous bailouts to his corporate friends.

If there was a "failure of leadership" when President Bush was running a $285 billion deficit, then what do you call it when President Obama's deficit spending is OVER FIVE TIMES LARGER at $1.6 trillion per year?

Why doesn't anyone in the mainstream media notice the blatant hypocrisy here?

On Importing Oil

In 2008, during a campaign debate Candidate Obama said:

"In ten years, we can reduce our dependence so that we no longer have to import oil from the Middle East or Venezuela. Number one, we need to expand domestic production and that means telling the oil companies the 68 million acres that they currently have leased that they’re not drilling, use them or lose them."

But in 2010 President Obama announced that he will not allow offshore oil drilling in the eastern Gulf of Mexico or off the Atlantic coast for at least seven more years. And that drilling off the Pacific coast will be banned at least until 2017.

This will cause us to be more dependent on imported oil, not less.

Jobs,  the War on Terror, the Bush Tax Cuts, etc.

Candidate Obama slammed President Bush's 4.8% unemployment rate citing mismanagement by the President. Yet his own unemployment rate is nearly twice as high. And he calls this a "recovery."

Candidate Obama told us he would end the war in the middle east as soon as he was elected. But two years later President Obama has expanded the war in Afghanistan, still has troops fighting in Iraq, and now has started a war with Libya.

Candidate Obama slammed President Bush for giving "tax cuts to the wealthiest Americans" and vowed he would repeal them. But, when they were about to expire at the end of last year.... he extended them.

Candidate Obama vowed he would repeal the Patriot Act, and that he would end warrant-less wiretapping of terror suspects, and the indefinite detention of terrorist prisoners at Guantanamo Bay.

But President Obama extended and expanded the Patriot Act, continued warrant-less wiretapping, and has not changed detaining terrorists.

When you look at the promises made by Barack Obama and then look at what he actually has done, there are only two conclusions you can come to. Either this man is an incredible hypocrite, or he is just a pathological liar. Or perhaps he is both?