Page 70 of 70 FirstFirst ... 2060686970
Results 691 to 697 of 697

Thread: Census shows 1 in 2 people are poor or low-income

  1. #691
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by AdamT View Post
    Uh, that doesn't confirm your false assertion that the UAW got 51% of GM. It says that they got $14 billion in stock, but it doens't mention that they also got $50 billion in health care liabilities, for a net loss of around $36 billion. Quite a deal.

    As I said, the UAW got 17.5% of GM stock: UAW Trust To Get 17.5% Of GM Shares - CBS News

    And the UAW took on GM's $51 billion health care liability: Is GM's Health Plan Contagious?

    GM said that it will ask the government to take more than 50 percent of its common stock in exchange for canceling half the government loans to the company as of June 1. The swap would cancel about $10 billion in government debt.

    In addition, GM is offering the UAW stock for at least 50 percent of the $20 billion the company must pay into a union run trust that will take over retiree health care expenses starting next year.

    If both are successful, the government and UAW health care trust would own 89 percent of GM stock, with the government holding more than a 50 percent stake, CEO Fritz Henderson said in a news conference at GM's Detroit headquarters.

    Deal would give ownership of GM to gov't, UAW | Business | KATU.com - Portland News, Sports, Traffic Weather and Breaking News - Portland, Oregon

    There you go....You're welcome.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  2. #692
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by j-mac View Post
    There you go....You're welcome.


    j-mac
    Um, hello? That's not what actually happened. Any more lies you would like to spread?

  3. #693
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by AdamT View Post
    Um, hello? That's not what actually happened. Any more lies you would like to spread?
    Yeah, the news is a lie....heh, heh....I see...

    An earlier IBD Editorial pointed out the sweetheart deal Obama gave the UAW:

    “Given that the wasteful work rules that UAW bosses — wielding government-granted monopoly-bargaining power over employees — insisted on for decades were largely what drove GM into bankruptcy, they certainly didn’t deserve kid-gloves treatment. Yet that’s what they got.

    A UAW-controlled auto retiree health care fund was owed $20 billion by GM before the bailout.

    Under the White House-dictated terms, UAW-appointed fund managers got back half of what they were owed in cash, whereas taxpayers who were owed $19.4 billion didn’t get a dime back in cash.


    Instead, the Obama administration “forgave” this entire loan on taxpayers’ behalf and earmarked an additional $23.5 billion for the company’s trip through bankruptcy. In exchange for the nearly $43 billion funneled to GM, taxpayers acquired a “60.8% equity stake” in GM.”

    It should be noted that the UAW is one of the most politically active of all unions. The union gave $2,119.937 to the 2008 campaigns 99% of which went to Obama and the Democrats. They gave another $1,106,500 in this past 2010 election cycle 100% of which went to Democrats. That is a total of $3,226,437 in just the last two election cycles. That does not include the phone banks, neighborhood canvassing and get out the vote efforts. Since 1990 the UAW has donated $26,510,252 of which 99% went to Democrats.

    Not a bad return on investment when you consider they received billions back in ownership and benefit funding.

    The government is subsidizing purchases of the GM Volt to the tune of $7,500 each. By the way that $7,500 is being supplied by you the taxpayer and is not being considered in the overall loss figures on the GM union payoff scam.

    The UAW also spends about a million and a half a year lobbying for important issues like card check, pension bailouts and the Buy America Act. So in reality taxpayer money was used to pay off unions so that they could then campaign for Democrats and lobby for special favors from those same Democrats. This is change alright. An increase in arrogant corruption that is off the Richter scale.


    The Obama campaign is claiming the union bailout saved the auto industry but neglects to mention that Ford took no money and has recovered even better than GM or Chrysler and that US plants owned by Toyota, Nissan and others continued to employ Americans without taxpayer assistance even competing against government subsidized GM and Chrysler.

    The real bailout was the union money laundering scheme that keeps union dollars flowing into Democrat campaign coffers. That is the Chicago way of redistributing the wealth. Taking from the unsuspecting taxpayer to give to the union campaign supporters.

    Obama’s union payback to cost taxpayers $14 billion : USACTION NEWS
    You are looking foolish Adam.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #694
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by j-mac View Post
    Yeah, the news is a lie....heh, heh....I see...



    You are looking foolish Adam.


    j-mac
    You REALLY need to cite to something other than a wingnut blather source if you ever want to be taken seriously.

    As General Motors emerged from bankruptcy in July 2009, the U.S. Treasury took a 60.8% stake in the company in return for a $50 billion bailout. A trust established to fund health care benefits for UAW retirees -- not the UAW itself -- took a 17.5% stake. The Canadian government took a 12.5% stake, and unsecured bondholders were given a 10% share.

    The trust fund came about as part of GM's restructuring. The UAW essentially agreed to shift responsibility for retiree health care costs away from GM to the union-controlled trust fund, consisting of company stock rather than cash.
    Truth Squad: Did government give automakers to UAW, Fiat? - CNN
    Last edited by AdamT; 12-31-11 at 01:22 AM.

  5. #695
    Sage
    Boo Radley's Avatar
    Join Date
    Dec 2009
    Last Seen
    11-22-17 @ 04:22 PM
    Gender
    Lean
    Liberal
    Posts
    36,858

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by AdamT View Post
    You REALLY need to cite to something other than a wingnut blather source if you ever want to be taken seriously.



    Truth Squad: Did government give automakers to UAW, Fiat? - CNN
    I have tried to tell him.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  6. #696
    Sage

    Join Date
    Sep 2010
    Last Seen
    Today @ 12:22 AM
    Lean
    Undisclosed
    Posts
    89,784

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Boo Radley View Post
    I have tried to tell him.
    How do you attempt to neutralize the effects of those lakes of kool-aid?
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  7. #697
    Sage
    Boo Radley's Avatar
    Join Date
    Dec 2009
    Last Seen
    11-22-17 @ 04:22 PM
    Gender
    Lean
    Liberal
    Posts
    36,858

    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by haymarket View Post
    How do you attempt to neutralize the effects of those lakes of kool-aid?
    Now that is the question. The answer I fear is blowing in the wind.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

Page 70 of 70 FirstFirst ... 2060686970

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •