Obama gives lesson in Marxism to Chamber of Commerce

Obama: Corporate Profits “Have To Be Shared By American Workers”

“If we’re fighting to reform the tax code and increase exports, the benefits cannot just translate into greater profits and bonuses for those at the top. They have to be shared by American workers, who need to know that opening markets will lift their standard of living as well as your bottom line,” President Obama told the Chamber of Commerce on Monday morning.

One certainly cannot say he is shy in telling us what he has in mind for us and Business. This should make the Stock Market take a rocket ride.

Conservatives on Fire has an excellent comment: here tis:

Is it possible that “The Smartest Man in the Room” is that stupid? Now, I’m going to assume that Mr. President is talking about after tax profits.

Does he not know that after tax profits means that everyone has already been paid up to and including the CEO? Does he not know what happens corporate profits?

Does he not know that profits are used for new capital invest to keep the company strong and thereby keep all their workers employed, and for paying down interests, and for paying dividends to those that own the corporation, which the IRS taxes a second time,and etc.?

These owners, Mr. President are called share holders and through employee pensions many, as you call them, workers are also owners. Or is it, Mr. President, that you want give the profits to the “workers”, which by the way includes all of the executives, so that you can reap more taxes?

H/T:Real Clear Politics

AOL Buys Huffington Post -Does George Soros’s money come with it?

Huffington with Code Pink Founder

Huffington with Code Pink Founder

UPDATE:  Perhaps this may be the deal with this merger.  In our earlier post: FCC Orders Newsrooms to Partner with Soros Funded Non Profits

Using Huffington’s  Investigative Fund is part of the FCC requirement in the deal with NBC and Comcast Merger. As they say, follow the money. Now back to our Post.

The only reason I could think of that AOL was paying $315 million which is an absurd amount was that it must come with George’s hefty donations, as well as others.  Another search engine hijacked by the left? We now know about Google. The right may have talk radio, the Progressives are taking up the search engines. Which would you rather have?

Hot Air:

AOL has agreed to purchase The Huffington Post for $315 million, the two entities announced in a joint news release Monday.

“As part of the transaction, Arianna Huffington, The Huffington Post’s co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content,” the statement said.

The new group will have a combined 117 million unique visitors a month in the United States and 270 million around the world, according to the release, which cited December 2010 data from the marketing research company comScore.

In 2009, the Huffington Post announced the creation of an “Investigative Fund” to do investigative journalism. The hilarity of the HuffPost doing real journalism is illustrated by the fact that almost six weeks later they haven’t produced anything [1] and by their Z-list celebrities who had previously used a related tag [2].

And, while the announcements [3][4] mentioned the name of the Fund, they didn’t mention the Soros connection: From American Spectator (link):

The program’s startup budget will be $1.75 million. The money will be provided by the Huffington Post and the Atlantic Philanthropies. The Bermuda-based Atlantic Philanthropies is headed by Gara LaMarche, who used to be a vice president of liberal uber-philanthropist George Soros‘s Open Society Institute. LaMarche is a member of Soros’s Democracy Alliance, a billionaires’ club that is organizing to impose socialism on America.

[1] huffingtonpost.com/tag/huffpost-investigative-journalism
[2] huffingtonpost.com/tag/investigative-journalism
[3] huffingtonpost.com/2009/03/29/huffington-post-launches-_0_n_180498.html
[4] huffingtonpost.com/arianna-huffington/announcing-the-launch-of-_b_180543.html

24 Ahead

IRS Gives $33 Mil In Electric Car Credits to Prisoners

And the better news? The IRS  agents are going to take care of Obamacare as well. After all, there are doing such a good job now. And today we just learn that we are going to need 16,500 more agents. Is this crazy or what? This most effective department will turn Business and our lives into hell.

It reveals that the IRS granted the lucrative tax credit—worth up to $7,500—to gas-guzzling sports utility vehicles and even a bicycle. Among those who cheated Uncle Sam are jail inmates and even IRS employees.

And now to the prisoners riding high on our dime. Behind prison bars.

The government agency that’s showered prison inmates with millions in fraudulent tax refunds over the years has been cheated out of $33 million by thousands who “erroneously” claimed credits for alternative and plug-in electric vehicles.

In automatically granting the bogus tax credits the Internal Revenue Service (IRS) was simply following an aggressive Obama Administration plan to reward consumers that purchase the costly “advanced-technology” vehicles. The president is on a mission to get 1 million of the environmentally friendly cars on the road by 2015.

In the first six months of 2010 alone, 20% of such federal tax credits were “erroneous,” costing U.S. taxpayers more than $33 million. Details of this latest IRS gaffe are laid out in a report released this week by the Treasury Inspector General for Tax Administration.

Maybe this will fix things with new agents.

New tax mandates and penalties included in Obamacare will cause the greatest expansion of the Internal Revenue Service since World War II, according to a release from Rep. Kevin Brady, R-Texas.

A new analysis by the Joint Economic Committee and the House Ways & Means Committee minority staff estimates up to 16,500 new IRS personnel will be needed to collect, examine and audit new tax information mandated on families and small businesses in the ‘reconciliation’ bill being taken up by the U.S. House of Representatives this weekend. …

Scores of new federal mandates and fifteen different tax increases totaling $400 billion are imposed under the Democratic House bill.  In addition to more complicated tax returns, families and small businesses will be forced to reveal further tax information to the IRS, provide proof of ‘government approved’ health care and submit detailed sales information to comply with new excise taxes.

Americans for Tax Reform has a good breakdown of the bill by the numbers.

Washington Examiner: Read more here

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