Political Forums  

Go Back   Political Forums > The Auto industry

We appreciate your help

in keeping this site going.
Reply
 
Thread Tools Display Modes
  #1  
Old 05-09-2011, 02:31 PM
d-ray657's Avatar
d-ray657 d-ray657 is offline
Loyal Opposition
 
Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
The end of capitalism

It looks like the US bailout of GM has caused the end of capitalism as we know it. GM was only able to eke out a $3.2 billion profit for the first quarter.

Regards,

D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
Reply With Quote
  #2  
Old 05-09-2011, 02:59 PM
finnbow's Avatar
finnbow finnbow is offline
Reformed Know-Nothing
 
Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,830
Yeh, I'm just waiting for the parade of GOP nay-sayers to come forth and admit that they were dead wrong on this one.
__________________
As long as the roots are not severed, all will be well in the garden.
Reply With Quote
  #3  
Old 05-09-2011, 03:11 PM
piece-itpete's Avatar
piece-itpete piece-itpete is offline
Possibly admin. Maybe ;)
 
Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
So, what's the return on the gov'ts investment?

Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
Reply With Quote
  #4  
Old 05-09-2011, 03:14 PM
finnbow's Avatar
finnbow finnbow is offline
Reformed Know-Nothing
 
Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,830
Quote:
Originally Posted by piece-itpete View Post
So, what's the return on the gov'ts investment?

Pete
It'll be pretty damn high once they sell all their stock and collect tax revenues from GM and their employees. A home run, I'd say (compared to the alternative the GOP proposed (i.e., do nothing)).
__________________
As long as the roots are not severed, all will be well in the garden.
Reply With Quote
  #5  
Old 05-09-2011, 03:19 PM
piece-itpete's Avatar
piece-itpete piece-itpete is offline
Possibly admin. Maybe ;)
 
Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
Then just imagine all that wonderful tax revenue generated by the bank bailout.

Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
Reply With Quote
  #6  
Old 05-09-2011, 03:21 PM
d-ray657's Avatar
d-ray657 d-ray657 is offline
Loyal Opposition
 
Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
Quote:
Originally Posted by piece-itpete View Post
So, what's the return on the gov'ts investment?

Pete
Maybe 100,000 more taxpayers working. That would equal about $200,000,000 in annual income tax revenue and about $750,000,000 annually in trust fund tax revenue. Of course that's above whatever the actual sale of the stock eventually nets.

EDIT: Oops, it looks like my numbers were way low. It is estimated that the bailout of both GM and Chrysler saved 1,400,000 jobs. The financial effect of that, in terms of save unemployment compensation, tax revenue and trust fund tax revenue is about $27,600,000 in 2009 and 10.

Regards,

D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again

Last edited by d-ray657; 05-09-2011 at 03:29 PM.
Reply With Quote
  #7  
Old 05-09-2011, 03:25 PM
finnbow's Avatar
finnbow finnbow is offline
Reformed Know-Nothing
 
Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,830
Quote:
Originally Posted by piece-itpete View Post
Then just imagine all that wonderful tax revenue generated by the bank bailout.

Pete
That's happening too, though it wasn't the thread's topic (nor will the tax revenue be as high as it should due to our screwy tax laws on the investor class (particularly hedge fund managers)).

Do you expect the GOP to admit it was also wrong with its incessant TARP criticism (nothwithstanding the fact it started under Dubya)?
__________________
As long as the roots are not severed, all will be well in the garden.
Reply With Quote
  #8  
Old 05-09-2011, 03:27 PM
piece-itpete's Avatar
piece-itpete piece-itpete is offline
Possibly admin. Maybe ;)
 
Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
Bonuses aren't taxed at the same rate?

Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
Reply With Quote
  #9  
Old 05-09-2011, 03:32 PM
d-ray657's Avatar
d-ray657 d-ray657 is offline
Loyal Opposition
 
Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
Quote:
Originally Posted by piece-itpete View Post
Then just imagine all that wonderful tax revenue generated by the bank bailout.

Pete
Actually there has been an economic report that the deficit would have been half again as much in 2009 without the government intervention and the actions of the fed.

Regards,

D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
Reply With Quote
  #10  
Old 05-09-2011, 03:39 PM
finnbow's Avatar
finnbow finnbow is offline
Reformed Know-Nothing
 
Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,830
Quote:
Originally Posted by piece-itpete View Post
Bonuses aren't taxed at the same rate?

Pete
http://www.epi.org/publications/entry/pm120/
__________________
As long as the roots are not severed, all will be well in the garden.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 06:19 AM.



Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.