Candidate Obama ran on a platform of increasing taxes on the rich to close the deficit. He also promised to end Republican supported loopholes that allow big corporations to escape taxes on profits made over seas and motivate the exportation of American jobs. He did neither.
General Electric CEO, Jeff Imelt, was one of the biggest corporate supporters of and big donors to Obama’s presidential bid. Imelt devoted two "news" organizations full time to pro Obama propaganda. No one (other than big labor leaders and George Soros) has been closer to President Obama than Jeff Imelt.
On the campaign trail, candidate Obama repeatedly called for a national computerized medical record keeping system. Who would have guessed that GE makes just such a system. And even more coincidentally, the new Health Care legislation requires doctors and hospitals to implement something like it by 2014. The new health care bill provides billions to pay for the required upgrades. Now that's real imagineering!
And how about the massive subsidies Obama and the Democrats pushed though Congress for wind and biomass electric generation equipment, which GE just happens to manufacture, as well as the huge subsidies for electric cars that will need the new GE electric recharge stations. Guess who makes those new green light bulbs we’re now required to buy at four times as much as the old incandescent ones with four times the profit margin per unit. GE of course. And one other thing, most of this stuff is manufactured by GE over seas, meaning your tax subsidies are going to pay for low cost foreign workers and high profit margins for GE that are not subject to US taxes. GE paid no Federal Corporate Income tax on its $14.5 billion in profit last year, thanks to special loop holes Obama promised to get rid of but never did. Now Obama has appointed Imelt as head of his economic advisers on creating American jobs. And, I am looking forward to his advice, since no one seems to be better at getting special favors from the government than Jeffrey Imelt.
Yet Imelt is not the only wealthy tycoon whose getting big favors from Obama. George Soros gave many millions to the Democratic party and its candidates and he gives hundreds millions more each year to liberal tax exempt charitable organizations that serve as unofficial cheerleaders for the party agenda. Soros has claimed both Hillary and Obama are his personal proteges, a claim neither disputes.
No one has been more anti oil drilling in US waters or more supportive of environmental causes that limit American energy exploration than Democratic party sugar daddy, George Soros. Somehow, in spite of his incredibly sincere concern about the environmental hazards of deep water drilling, Soros invested over $900 million in the giant state run Brazilian oil company. Petrobras, engaged in deep water drilling more than three times as deep as the BP horizon well. And, amazingly coincidentally, just after the stock purchase, Petrobras got a billion dollar loan guarantee from the US government run Import Export Bank to fund offshore deep water drilling operations. In addition Petrobras is one of only five companies issued a drilling permit in the Gulf since the total ban was lifted.
Shortly after these incredibly lucky events for Petrobras, Soros sold his interest and made millions on the turnaround. Much of that profit will make its way into Democrat campaign funds to fight the nasty American oil companies destroying our environment. If that weren't enough, it turns out Soros has a huge stake in Interoil, a Papua, New Guinea company that has made a promising new find in that country. Inexplicably a number of US government engineers have been dispatched to give technical advice to Interoil at US taxpayer expense while American companies complain that there are not enough such engineers to approve permits for drilling in American waters.
The Democrats raked in far more Wall Street money than Republicans in the last two election cycles. Most CEO’s and other top officers in the biggest Wall Street firms are progressive Democrats and donate ot Democrat candidates liberally. Warren Buffet, Bill Gates and a host of other corporate and Wall Street Bankers, investors and CEO”s are Democrats.
Astonishingly, contrary to all the evidence, many persist in believing the myth that the Republican Party is controlled by big capitalists while the Democratic Party is the "party of the people." The facts are clear that the cronyism going on in the Obama administration makes Bush look like a populist reformer by comparison. Excuses will be made for Obama and liberals will latch on to the next "man of the people" to promise them hope, change and a bunch of new federal programs to impose fairness on the greedy capitalists, and they will be astonished all over again to find that he's just another puppet of the wealthy tycoons they so richously love to hate.
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