Category Archives: funds
The ‘Cuda types:
In my recent speech in Iowa, some eyebrows were raised when I took on our government’s enormous economic problems caused by crony capitalism. As if on cue, just days later President Obama selected someone who exemplifies a major crony capitalism problem to sit next to the First Lady when he delivered his “jobs plan” speech before Congress. He selected General Electric CEO Jeffrey Immelt as his honored guest.
Having grown up with great respect for GE thanks to stories my grandfather shared with us about his days working for the company and even meeting GE spokesman-at-the-time Ronald Reagan during a company event, I am saddened at GE’s leadership evolution. This corporation is now the poster child of corporate welfare and crony capitalism.
This icon of American industry is a company full of good employees who make some good products (and is the parent company of a huge media outlet), but GE is also a large American corporation that pays virtually no corporate income taxes despite earning worldwide profits of $14.2 billion last year, $5.1 billion of it in the United States. In fact, they claimed a tax benefit of $3.2 billion, meaning they received more of our hard earned tax dollars than they contributed. How is that possible? It’s because not only do they shelter their money from taxes, but they also get many tax credits, loans, government grants, and other benefits from the federal government that our smaller businesses couldn’t even imagine being able to profit from.
Joining GE in the pantheon on crony capitalism is another Obama favorite that has been in the news of late: Solyndra. The President hailed this “green energy” company in a speech last May as “the true engine of economic growth.” When he announced the $535 million guarantee to Solyndra, Vice President Biden said that investments like this are “exactly what the Recovery Act is all about.” (Dear God…If the failed Solyndra venture has been what it’s “all about,” then that explains a lot.) As I pointed out in my speech at the Reagan Ranch Center last February: “History has proven again and again, when government picks the winners and losers, we’re stuck with the losers, and we the taxpayers subsidize failure!” And that’s what we’re seeing now, as the FBI raids the solar energy company’s headquarters to glean more information after the company was handed half a billion dollars in “green energy” Stimulus funds from the American taxpayer only to later declare bankruptcy. More than one thousand Solyndra workers lost their jobs. Now as the truth comes out, we discover that the White House was heavily involved in the Department of Energy’s rushed decision to give the Stimulus funds to Solyndra, and they tried to move the money through so quickly they seem to have ignored concerns that the company was not viable. Why would they do this? Perhaps it’s because a large investor in the company (about 35%) is Obama campaign bundler George Kaiser. And with the way the deal is structured, Kaiser will get his debts paid before we the taxpayers see any relief. That is sickening. And that’s how it works: workers lose their jobs, wealthy political cronies stand a good chance of getting their money back, and the U.S. taxpayer gets the shaft. Again.
President Obama has his sights set on raising $1 billion for his reelection campaign. Raising that money won’t be easy. But if you can hand out other people’s money to friends, it must get a whole lot easier. This crony capitalism and government waste is at the heart of our economic problems. It will destroy us if we don’t root it out. It’s not just a Democrat problem or a Republican problem. It’s a problem of our permanent political class. This won’t stop until “we the people” say enough is enough, and we retire the permanent political class that votes for this.
- Sarah Palin
- Palin: Crony Capitalism on Steroids from GE to Solyndra (sarahpalinblog.typepad.com)
- Sarah Palin Fires Back At Obama And Hoffa (thepalinexpress.wordpress.com)
- Palin Recalls ‘Crony Capitalism,’ Bachmann Runs With It (themoderatevoice.com)
President Obama will be most of the rest of the year campaigning not only to be re-elected, but to push is “jobs” bill that is another attempt to rush a bill through a-lá-Obamacare, presenting a false pretense that it’s “paid for” when the reality is that it isn’t. A bill that is fair to all of us that pay taxes and garnishes earnings and a reasonable effort to recruit more and more people cannot amount to the ridiculous amount of approximately $200,000 up to $312,500 per job created OR SAVED. Yes, no typos-per job.
Take a look:
The President’s deal is said to increase GDP by $300 billion or 2 percent and add or 1.9 million jobs. The plan is expected to cost tax payers $475 billion, well over the $300 billion that analysts were originally forecasting. ZeroHedge notes that $475 billion financed over a ten year basis at 2.5 percent will add roughly an additional $120 billion in interest.
If you don’t factor in the interest, it will cost the tax payers $250,000 per job and $312,500 after factoring in the interest tax.
Whoever is doing that math, is an evil malign tumor that has a laundromat with a Slushie machine inside.
This bad joke has got to stop now. What blows my mind is why nobody is stopping this madness. Who is waiting for what? If most of the United States are “game on” for destroying this country on purpose thinking that this can be in a jiffy, they’re absolutely wrong.
Check out this video. It’s from 1958!! Aren’t we living (or lived) through all of this? Please watch and pass along! A bit Ronulan, but impressive indeed.
His constituents by-proxy are not thrilled about this visit. Puerto Rico’s population is about four million; what happens in the Unites States is affecting the island as well, so now they’re not happy campers. Puerto Ricans expect the same empty promises that Obama gave us. To make things more interesting, this is also Hillary Clinton‘s turf as she beat Obama in the Democrat Party’s presidential primaries in 2008 with a 3 to 1 margin.
Puerto Rico has also a lamestream media that is covering this four-hour visit as if he is staying for a week. Folks, it’s all about the money (read my Nancy Pelosi‘s blog post about this). There’s also that issue of Puerto Rico’s self-determination process that is in its infancy. Puerto Rico’s Resident Commissioner, Pedro Pierluisi (D-PR) gave this statement:
After noon, the Resident Commissioner of Puerto Rico in Washington, Pedro Pierluisi confirmed the information given ahead of time by EL VOCERO. “I know that President Obama’s intentions is to show once again to the people of Puerto Rico that he identifies himself with us, with our causes and with our aspirations, and he wants to help us with our social and economical challenges that we face. I am positive that he will also use this trip to support the report of the Special Workgroup of the White House about Puerto Rico, and to see firsthand how we’re benefitting from his initiatives of his administration”, said Pierluisi via written statement.
Puerto Rico’s Resident Commish has “voice” in DC, but cannot vote on anything related to Puerto Rico nor the United States; he has to knock on a lot of doors to get things done. What few people know on this side of the pond? That Puerto Rico’s Governor, Luis Fortuño (R-PR) has been friends with Pedro Pierluisi (D-PR) ever since their teens. It is a positive but awkward professional relationship.
I don’t expect the GOP to jump in and make a strong statement about this four-hour trip. The only cool thing will be that kids will finally see Air Force One in all its glory. Obama’s visit will certainly be a part of Puerto Rico’s 21st century but it will be exaggerated, as is with everything involving politics.
President Obama will make a four-hour stop in Puerto Rico on June 14. This is a very unusual visit for a US President to visit the island so quickly-Nancy Pelosi visited the island last year, gave a speech, grabbed Democrat fundraising for the past November elections, and left.
Obama’s visit will coincide with the 50th anniversary of John F. Kennedy‘s trip to Puerto Rico in 1961. The 43rd President of the United States will be the second president that visits Puerto Rico on official affairs, since the creation of the Commonwealth. Obama made a stop in Puerto Rico twice as a pre-presidential candidate during the Democrat Party’s primaries.
Now that Obama’s visit is confirmed, the logistics for Obama’s safety and security are put in place. The US Air Force, the Secret Service, Puerto Rico’s Department of State along with the FBI. Local police will be also on a serious alert and will provide security for the whole visit. All information regarding Obama’s visit is trickling in-so far the trip was in his agenda for weeks-but more details of this four-hour trip are trickling in, so stay tuned.
- Puerto Rico governor announces Obama visit (politicalticker.blogs.cnn.com)
- Puerto Rico governor announces Obama visit (via CNN Political Ticker) (techweev.com)
- Obama to Make Rare Presidential Visit to Puerto Rico – NYTimes.com (policyabcs.wordpress.com)
SarahPAC has evolved from a straight-forward website with a limited goal to a full-fledged official Sarah Palin‘s interactive website. Everything for the general public is there-her Facebook posts, her tweets, email updates and of course the PAC donations. These are detailed, better broken down and my bet is that her PAC will increase due to this flexibility.
For those interested in a speech appearance, the option is there. The website design is impressive, colorful and very patriotic. Kudos to all involved in this project. GAME ON, indeed!