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Redistribution of wealth McCain vs Obama?
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Sharing the Wealth. You know more and more I hear about Obama’s share the wealth plan, as if it’s going to take every average American’s dollar and give it to another Average American. But to me this doesn’t seem so, disagree if you want but her me out before you do.
In 1996 General Motors created the EV1, a two seat electric car with ZERO EMISSIONS, and sold it in California and Nevada on a lease program. Though the car was sill in early test phases, it became a quick success with many long waiting list to get a car. The car was created in part due to California’s Zero Emission Mandate, (ZEM) which wanted to bring zero emission cars into the market.
In 2003 GM cancelled the EV1 citing, battery issues, experimental technology, and last lack of customer demand. Though again there was a large waiting list at all dealerships that sold the car, GM maintained no one wanted it. In further explanation the stated, they had called customers to ask if they would purchase the car, and where told many wouldn’t. Many customers who got the call, said GM only explained the complications with the car and some of the issues that might be associated with purchasing it. This to me is a shock, I have never heard of a company underselling, or explaining the problems of a product to buyers. This would be like if McDonald’s tellers, started telling you about the possible health risks with buying their food, every time you bought a big mac? GM’s cancellation of the program was coincidently the same time they decided with other large automakers to sue California and overturn the ZEM that had been set by the state. And what did GM do with all the cars? Since it was a lease program, no one actually owned their EV1, when the lease was over, citing insurance and liability the company refused all offers to by the car. Including a 1.9 million dollar offer by leases, and instead destroyed all but a few, with the rest being used as little more then trophies for glass cases.
Now flash forward to 2008, amid rising gas prices, and a steadily lowering economy more and more American’s can’t afford new cars and the ones that are selling are hybrids including the every popular Toyota Prius. As profits dry up major U.S. auto manufactures are announcing closing factories, layoffs and a loss in profit. So what do they do? Go to the government, asking for a 25 billion dollar loan*, so they can retool and update to create more Hybrid and fuel efficient cars.
Now what does all this have to do with Obama and sharing the wealth. Well to me under McCain’s tax plan, GM, Ford, and Chevy will all get billon dollar tax breaks to keep them competitive. True, they obvious need money to retool, and expand, and giving them a tax break could lead to just that. But McCain seems to do little to hold them accountable. GM created a ZERO Emission car, they said the American people don’t want it. They shut it down and continued to make their gas guzzlers, during the year GM released the old gas drinking chestnut the Hummer. As Toyota and others foreign markets continued to push for lower emission GM, Ford, and Chevy, went higher. They fought any legislation that would have forced them to come out with more efficient cars and scoffed at those who said gasoline would not last forever. Now when the market isn’t fair to them they come running to congress and asking for money. And again under McCain’s plan they get even more money to stay afloat, while never once having to act responsibly. If GM had been allowed to fail, it would have hurt the economy but the American tax payers would still have a good 5 billion, GM’s share the of the money, in their coffers. If GM had sold the EV1 they may not have been in this place to began with, and surely the investment in the new technology would have helped them deal the the gas crises today. No GM and others chose to do nothing except put themselves in this situation and then come to the American people to get themselves out. Under Obama’s economic plan, GM, Ford, and Chevy would have to pay higher taxes on the money they make and give it back to the American people. You know helping to build roads, schools and other essentially items for the nation. The best part is, if you make less the 250,000 dollars, a year you won’t be paying more to make America better the rich aristocrats who ran wall street in the ground will. Now maybe to a lot of millionaires out there this sounds like socialism, or redistribution of wealth but to me it seems fair. GM was stupid and the American people paid, why can’t they pay in return, granted given huge tax breaks GM may put enough money in new technology that it spurs a wave of American business that helps create more jobs and a stronger economy, but thats a lot of fairy dust on faith in the free market. While as under Obama’s plan, sure companies my feel the pinch of paying higher taxes, but tax breaks will go to those who fund new technologies and attempt
has anyone actually read this or are you just commenting on the first part.
Sorry I thought you were saying something else. All taxes have been a redistribution of wealth. It is how we build our Highways, fund our military, and pay for education. — smiles
Hint: When you write that much into a question, you lose most of us. Just a suggestion.
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Comments
Sorry I thought you were saying something else. All taxes have been a redistribution of wealth. It is how we build our Highways, fund our military, and pay for education. — smiles
Hint: When you write that much into a question, you lose most of us. Just a suggestion.
References :
Umm, i didn’t even read all of that. I just wanted to point out what you said in the opening…
You know more and more I hear about Obama’s share the wealth plan, as if it’s going to take every average American’s dollar and give it to another Average American
Making more than 250K isn’t average.
References :
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