More Chicago-style politics from the White House. President Obama has claimed he has no interest in running a car company. That may or may not be true. There is no question, however, that he has an interest it their money and their votes. The administration has a vested interest in keeping their interest groups happy, including the reliably Democrat-supporting United Auto Workers union.
"As everyone else’s taxes rise, one favored outfit may not have to pay federal taxes for years: General Motors. In another sweet deal from its benefactors on Pennsylvania Avenue, the government-owned car company is set to profit from billions of dollars in tax breaks not available to other businesses in the same predicament.
...[the Obama administration] has handed a $16 billion tax gift to GM that isn’t available to Ford or other auto makers that didn’t take bailout cash. It’s one more example of the way the political class has stacked the deck in favor of Government Motors."
GM Profits from “Tax-Loss Carry Forward” - WSJ.com
Thursday, July 30, 2009
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