How GM is spending OUR money

You got to love this. We all know that there are times when the taxes we pay are used to help the party in power campaign for others, but I think this is horrible and I hope you agree. We remember the fact that when the government took over GM, they did so by changing the way that stocks work by allowing the unions to benefit and other stockholders to be paid pennies on the dollar for their stock. But, now that We the People own 61% of the company, the company should stay out of politics. Of course, should is a word that many forget. Gotta love that GM (Government Motors) is using money that it could be using to pay back the taxpayers to hand out campaign donations. I really don’t care what party is benefiting from it. I think it is wrong for taxpayer money to be used in this way. IIRC, Ford is still the strongest of the US automakers and the only one not to accept government aid. So, I wonder how well the others are handling their money if they don’t realize that they are using OUR money to play politics.

This is from Hot Air who has a great article that explains how donations enable them to make tons of money by having contracts throw their way…and not just the automakers do this. The Ouroboros revisited


4 thoughts on “How GM is spending OUR money

  1. Kip says:

    While you’ve got it wrong about GM stocks – without the Bush/Obama bailout, GM stocks would be worth zero. And I thought saving jobs was a good thing.
    I do agree with you on your main point. The Supreme Court got it wrong when they decided corporations could determine the outcome of elections.

  2. garnette says:

    I do remember that the unions benefited a hell of a lot more because of the money that was used for their pension plans. than the other stockholders based on the how the White House manipulated the agreement with GM. But, I was talking from memory on how in. It was just Bush and Obama, but also Congress that had a lot to do with the bailout, which was controlled by the Democrats although I blame the Republicans just as much. I believe in the free market that if GM produced a good product that people wanted to buy and have a profit that allows them to continue to employ people at competitive rates that is a good thing. When government decides who to help and who not to help that is a bad thing because then they are overstepping the powers given to them by the constitution.

  3. Geoff says:

    Wow the Supreme Court decided corporations could decide the outcome of elections? What kind of progressive talking point is that? Not to mention that saving jobs is a good thing? I really don’t know how to debate with a person whose premises are based on total fallacy. It is not the responsibility of the federal government to create or save jobs. If you find that in the 17 enurmerated powers of the Constitution I’d be glad to read it. As for the first amendment, leave it alone please. Corporations don’t buy elections, and where is your concern for the union involvment in elections?

  4. garnette says:

    Long time no see or hear! Miss reading your posts. Well said. I just have to add that I am wondering how many jobs have been lost because of Obama’s choice to take over GM.

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