Word: taxed
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Dates: during 2000-2009
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...companies and refilling their tanks with enough cash to keep them going - along with their finance arm, GMAC, and their key suppliers - the public price tag will exceed $100 billion. Add billions more in subsidies for researching and developing green technology and still more billions in tax credits to motivate buyers to go green. If someday GM and Chrysler become consistently profitable, the government loans will be repaid and both companies restored to total private control. The operative word being...
...Whatever deal eventually emerges, experts warn that Opel's future is anything but rosy in a car industry beset by a massive erosion of demand. The Financial Times reported that the offer document GM sent out to bidders last month predicted a loss before tax and interest payments of more than $3 billion at its European businesses this year. (See pictures...
...summer. They will show whether the government stimulus package has been even modestly successful, whether there will be consumers who can shop during the holiday season that now seems to start in September, if there are buyers to participate in the struggling car markets, and citizens who can be taxed rather than being a tax on the federal and state governments. The news will be particularly bleak if the economy sheds more than 500,000 jobs in any of these months. A plunge of that magnitude in every month could push unemployment to double digits with only eight months...
Instead of meddling in the management of domestic auto companies, Obama should use his immense political capital to make a policy decision that no recent President has shown the guts to make but that would be greatly in the national interest. A stiff new gas tax, phased in as the economy strengthens, would push new-car demand toward more fuel-efficient vehicles just as the U.S. market for cars improves and auto production ramps back up. That would both stimulate the market for new cars and help curb our self-defeating addiction to buying oceans of oil from countries that...
...presented, the Obama budget formula is a work of art, if the goal is to slyly practice the very sort of dissembling politics that Obama ran against. The middle class is promised both a trillion-dollar avalanche of appealing new spending and, in the President's words, a "tax cut - for 95% of working families." Call it the audacity of sophistry. If, as the President claims, his election was a mandate for a larger public sector, then would not the honest and responsible move be to ask everybody to pay at least a little bit more? Is a taxpayer making...