Thread: Obama Throws Class Warfare Tantrum to Raise Debt Ceiling

His speech was an ananemic and exhausted attempt to pit American against American, citizen against business, children against corporations, rich against poor

Barack Obama Throws Class Warfare Tantrum to Get the Debt Ceiling Raised

- Jim Byrd
Thursday, July 7, 2011

If giving a speech entails fixating a microphone and teleprompter in front of a mollycoddled, petulant adolescent, who in turn uses the microphone and teleprompter to propel accusations and prevarications because he can’t have his way, then Barack Obama and his teleprompter gave a speech on the debt ceiling June 29, 2011. The speech emanated a child throwing a public tantrum, desperately trying to reconcile the fantasy world of cartoons and failed progressive ideologies with the harsh reality in which the world exists.

Obama’s hemorrhage of a prosaic intellect and déclassé character, captured with his halting and vacillating elocution, was aimed at the very tax breaks he gave corporate jet owners with his stimulus package he neither read nor knew what it contained, and also which has yet to stimulate one sector of the economy.

His speech was an ananemic and exhausted attempt to pit American against American, citizen against business, children against corporations, rich against poor, and the fail-safe progressive platform of us against them—the same tired and failed ineffective class warfare scheme that is used time and time again. He mentioned the tax loopholes six times for corporate jets—loopholes he created—and now it is these very tax breaks he assures us will be the destruction student loans, food safety, and the prediction of the weather. He attempted to paint a picture of corporations holding fists full of dollars via his loopholes, when in reality the tax break is only an accelerated depreciation on the corporate jets. He has a steady record of vilifying and mischaracterizing an industry for political expediency, and this time he is assailing the aviation industry for votes. Barack Obama has repeatedly demonstrated that he is pathologically incapable of grasping the political, intellectual, and ideological requirements to lead the most rudimentary enterprise.

The catalyst of his tantrum is the $5 trillion he has added to our national debt, and his insistence on adding an additional $2 trillion to a debt that is already un-payable, for which his pitch has been that all the spending programs he has added will reduce the debt; rather than reign in the government’s uncontrolled spending, he has identified a villain and needs the country to believe by increasing the corporations’ taxes, more money will pour into the government coffers and he will have slayed the villain for the sake of the defenseless proletariat.

The tax cuts I’m proposing we get rid of are tax breaks for millionaires and billionaires, tax breaks for oil companies and hedge fund managers and corporate jet owners. Before we ask our seniors to pay more for health care, before we cut our children’s education, before we sacrifice our commitment to the research and innovation that will help create more jobs in the economy, I think it’s only fair to ask an oil company or a corporate jet owner that has done so well to give up that tax break that no other business enjoys.

Yes indeed, he is going to eliminate that tax break for all these “millionaires and billionaires.â€

"So much for the tax payer college education!" No wonder he doesn't want anyone to see his school records, well you get what you pay for!

GE paid no TAX on over 5 Billion dollars and Imelt is under Obama's wing. Is Imelt going to start paying taxes on GE corporate jets?

At least private corporate jets are paid for by the stockholders of a company. Obama's private jet costs much more to operate, it is called Air Force One. - How many campaign trips, vactions have been paid for.

Over 2000 people accompanied Obama to India - what is up with that?


MSNBC Commentators Hide Their Corporate GE Bosses Fed Bailout


The partisan commentators on the GE-owned MSNBC television failed to cover the big financial news of the day—their corporate bosses had tapped the Federal Reserve for $16 billion in bailout money. GE owns the NBC television network and MSNBC and CNBC cable channels.

By Cliff Kincaid | December 3, 2010

The partisan commentators on the GE-owned MSNBC television network continued their class warfare rhetoric against Republicans on Thursday night over “tax cuts for the richâ€

GE received 16 Billion in bailout money where are the taxes on the profit?

GE expected to report 13 percent rise in profit
By Scott Malone

BOSTON | Thu Jul 21, 2011 6:22pm EDT

BOSTON (Reuters) - Analysts expect General Electric Co (GE.N) to report a 13 percent rise in net profit on Friday, with strong demand from emerging markets continuing to offset weak U.S. demand and its slimmed-down finance arm.

The largest U.S. conglomerate is experiencing strong demand for a variety of its heavy equipment, from aircraft engines, to gas turbines, to gear used in producing oil and natural gas, company officials have said.

"Business is good," Chief Executive Office Jeff Immelt told reporters in Greenville, South Carolina, last week. "You have this backdrop of tremendous demand."

That tremendous demand is largely coming from key emerging markets such as China, Brazil and parts of the Middle East. Demand at home is spottier, particularly for consumer products, due to lingering high U.S. unemployment and low home prices. GE does more than half its business outside the United States.

The gap between strength in the developing world and sluggishness at home has colored earnings reports across the industrial sector this quarter. United Technologies Corp (UTX.N), which generates about 60 percent of its revenue outside the United States, topped analysts' forecasts this week, while Ingersoll Rand Plc (IR.N), which has a large residential air conditioner business, missed.

Wall Street expects GE to report a net profit of $3.43 billion, earnings per share of 32 cents and $34.7 billion in revenue, according to Thomson Reuters I/B/E/S. The revenue target implies a 7 percent drop, which reflects the company's continuing drive to scale back its GE Capital finance arm.

One thing that investors will likely not get from GE management is a detailed view of the rest of the year. Unlike its peers, GE does not provide per-share profit forecasts.

That could help GE shares by sparing them the sell-offs that companies, including Danaher Corp (DHR.N), have seen after issuing what analysts described as cautious second-half targets.

"There is just so much macro uncertainty, even if it's not fully manifesting in companies' results. I don't think anyone has too much incentive to be a hero going into the back half," said Jeffrey Sprague, managing partner at Vertical Research.

Analysts expect GE's total 2011 profit to rise 18 percent.

The Fairfield, Connecticut-based company's shares have risen about 3 percent so far this year, trailing the 9 percent rise of the Dow Jones Industrial average .DJI.

http://www.reuters.com/article/2011/07/ ... FO20110721