More on the Obummer Administration's Cronyism

"Their supposed signature achievement is General Motors, whose government takeover — never envisioned by George W. Bush, who nonetheless created the hijacking opportunity — Obama believes could become a kind of model for general application (“Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry”). 

Really? GM received at least $50 billion in government aid and thus far has saddled taxpayers with a $25 billion loss. Thanks to a special break approved by the Obama Treasury Department, it is escaping and will continue to escape paying tens of billions in income taxes on its post-bankruptcy income by carrying forward its pre-bankruptcy losses, something other firms emerging from insolvency cannot do. At least $70 billion in these and other subsidies, tax benefits, and assorted favors — an amount which is probably greater than the cronyism losses seen during any other single presidential term before the turn of the century – has been expended in the name of protecting roughly 70,000 jobs (that’s $1 million per job) and keeping the United Auto Workers Union alive. Despite all of Uncle Sam’s help, GM has seen its U.S. market share shrink to 18%. According to some experts, it is mismanaging its way to a still distant but distinctly possible return to bankruptcy."

And the Administration wonders why we don't trust the government.  It's when you craft sweetheart deals that cost us the taxpayers money, both in the original loan and the loss of future tax revenue.  and yet you ask us to pay more in taxes for our "Fair Share"

H/t Insty