I’ve written before about profits and taxes. Here I discussed the amount of taxes paid by the company the Left seems to hate more than all others combined: Exxon. Exxon, of course, pays tens of billions of dollars in taxes every year. The left loves the taxes but hates the company – and the market in which the company works. Tough.
Now comes word on another corporate behemoth and the taxes they pay… ooops! Sorry! The taxes they WON’T pay!
Government Motors, previously named “General Motors”, won’t pay federal taxes on up to $50 BILLION in profit. Why? Part of the Obamadeal…. A cool $45B of taxes it won’t have to pay on future profits…..
Who said Chicago was all about corruption and gangsters and thugs who’d steal your underwear?
Profit. Some of you are old enough to remember when the government didn’t HATE profit and didn’t steal all of it they could. That obscene bad old thing “profit” the left hates because they just don’t understand it. (You know, because so little the Left does – like Air America, PBS, NPR, NY Times, etc., is profitable.)
So… I guess it’s BAD to PAY taxes on $30B of revenue if you are Exxon… but GOOD NOT to pay taxes on profits on $50B if you are owned by Obama.