Sarah Palin: Crony Capitalism on Steroids from GE to Solyndra

A good writeup by Sarah Palin about the crony capitalism in the Obama administration, but in my opinion, the *bam* comes near the end:

In my recent speech in Iowa, some eyebrows were raised when I took on our government’s enormous economic problems caused by crony capitalism. As if on cue, just days later President Obama selected someone who exemplifies a major crony capitalism problem to sit next to the First Lady when he delivered his “jobs plan” speech before Congress. He selected General Electric CEO Jeffrey Immelt as his honored guest.

Having grown up with great respect for GE thanks to stories my grandfather shared with us about his days working for the company and even meeting GE spokesman-at-the-time Ronald Reagan during a company event, I am saddened at GE’s leadership evolution. This corporation is now the poster child of corporate welfare and crony capitalism.

This icon of American industry is a company full of good employees that make some good products (and is the parent company of a huge media outlet), but GE is also a large American corporation that pays virtually no corporate income taxes despite earning worldwide profits of $14.2 billion last year, $5.1 billion of it in the United States. In fact, they claimed a tax benefit of $3.2 billion, meaning they received more of our hard earned tax dollars than they contributed. How is that possible? It’s because not only do they shelter their money from taxes, but they also get many tax credits, loans, government grants, and other benefits from the federal government that our smaller businesses couldn’t even imagine being able to profit from.

Joining GE in the pantheon on crony capitalism is another Obama favorite that has been in the news of late: Solyndra. The President hailed this “green energy” company in a speech last May as “the true engine of economic growth.” When he announced the $535 million guarantee to Solyndra, Vice President Biden said that investments like this are “exactly what the Recovery Act is all about.” (Dear God…If the failed Solyndra venture has been what it’s “all about,” then that explains a lot.) As I pointed out in my speech at the Reagan Ranch Center last February: “History has proven again and again, when government picks the winners and losers, we’re stuck with the losers, and we the taxpayers subsidize failure!” And that’s what we’re seeing now, as the FBI raids the solar energy company’s headquarters to glean more information after the company was handed half a billion dollars in “green energy” Stimulus funds from the American taxpayer only to later declare bankruptcy. More than one thousand Solyndra workers lost their jobs. Now as the truth comes out, we discover that the White House was heavily involved in the Department of Energy’s rushed decision to give the Stimulus funds to Solyndra, and they tried to move the money through so quickly they seem to have ignored concerns that the company was not viable. Why would they do this? Perhaps it’s because a large investor in the company (about 35%) is Obama campaign bundler George Kaiser. And with the way the deal is structured, Kaiser will get his debts paid before we the taxpayers see any relief. That is sickening. And that’s how it works: workers lose their jobs, wealthy political cronies stand a good chance of getting their money back, and the U.S. taxpayer gets the shaft. Again.

President Obama has his sights set on raising $1 billion for his reelection campaign. Raising that money won’t be easy. But if you can hand out other people’s money to friends, it must get a whole lot easier. This crony capitalism and government waste is at the heart of our economic problems. It will destroy us if we don’t root it out. It’s not just a Democrat problem or a Republican problem. It’s a problem of our permanent political class. This won’t stop until “we the people” say enough is enough, and we retire the permanent political class that votes for this.

– Sarah Palin

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  • What about Glen Rice?

    • KenInMontana

      The fact that this “claim” is put out by none other than Joe McGinniss, kind of says it all. The “Palinistas” are going to cut you to pieces on that, brace yourself. LOL

      • I have already gotten a dose of their medicine. I am not saying it is true but sort of wierd how conservatives 4 palin has not said a word about it. I don’t really think it matters other than being embarassing if true.

        • Anonymous

          Why would C4P respond?

        • Anonymous

          RealClearScott Scott Conroy
          “, innuendo, and smears. Even The New York Times called this book ‘dated, petty,’ and that it ‘chases caustic, unsubstantiated gossip.’”
          38 minutes ago »
          RealClearScott Scott Conroy
          “right next door to us to harass us and spy on us to satisfy his creepy obsession with my wife. His book is full of disgusting lies”(2 of 3)
          38 minutes ago »
          RealClearScott Scott Conroy
          Todd Palin responds to Joe McGinniss: “This is a man who has been relentlessly stalking my family to the point of moving in…” (1 of 3)
          39 minutes ago

        • KenInMontana

          Not sure why it if it would be embarrassing even it was true considering it was supposedly while they were both in college. IMO it is nothing more than a pathetic cry for attention by that “hack”/stalker McGinniss.

        • Lets see…. Brian, was your wife a skank and sleaze when she married you? Because if she wasn’t a virgin, it sure would be embarrassing. Better check before the relatives find out. As for smoking dope, Sarah already said she did in her book…. back when it was legal to do in Alaska many years ago. As for the rest, its all anonymous…. ” a friend said” “someone said” etc. A lot of bull crap regurgitated from the scumball Democrats and rats who tried to smear Sarah Palin back in 2008.
          Joe is what they call a useless t*t.

          • Pure Hyperbole. I never said anything like that.

            • Anonymous

              No, you didn’t say anything like that, but you’re happy to traffic in such filth just as long as you can carry on the pretense of having clean hands, which puts you on the same level, only more cowardly. Neither of you deserve to dwell among people of conscience. Instead, you should be condemned to crawl forever with the worms within the earth, never to to see the light of day or breath another lung full of clean, fresh air for the rest of your miserable existence.

        • Lets see…. Brian, was your wife a skank and sleaze when she married you? Because if she wasn’t a virgin, it sure would be embarrassing. Better check before the relatives find out. As for smoking dope, Sarah already said she did in her book…. back when it was legal to do in Alaska many years ago. As for the rest, its all anonymous…. ” a friend said” “someone said” etc. A lot of bull crap regurgitated from the scumball Democrats and rats who tried to smear Sarah Palin back in 2008.
          Joe is what they call a useless t*t.

        • Mary Beth House

          C4P addressed this ages ago when it was first discovered what McGinniss’s book was about and tore the tripe up at that point.

          Todd Palin responded to it tonight and I think that’s all this kind of ridiculousness deserves.

        • Anonymous

          Why on Earth would it be embarrassing? They were both single.

          • So now even conservatives see nothing wrong with pre marital sex?

            • D

              My guess is your not a conservative or you wouldn’t be asking.

              Judge Not!

              • Any more of the ten commandments you want to throw out?

                • Anonymous

                  What commandment covers dating a black guy again?

                • Anonymous

                  This comment betrays your ignorance of Christianity. Here is a clue – If you break even the seemingly insignificant part of the Law you break the whole Law. Fortunately, Christians aren’t perfect, only saved believing that He was/is the Son of God who came to die for us and He is now Lord.

              • Anonymous

                Your partial quote, without context, does not speak for me.

                “Judge not according to the appearance, but judge righteous judgment.” That’s Jesus speaking, in John 7:24.

                I don’t think that means I should go around blabbing about everyone’s conduct (Jesus usually did not), but it does definitely means that there are moral standards which should not be ignored or minimized.

                I have no use for muck-rakers, but don’t forget that God has set standards by which He will, on His own time schedule, judge every one of us. We do no one a favor if we pretend that wrong is right.

              • Anonymous

                Your partial quote, without context, does not speak for me.

                “Judge not according to the appearance, but judge righteous judgment.” That’s Jesus speaking, in John 7:24.

                I don’t think that means I should go around blabbing about everyone’s conduct (Jesus usually did not), but it does definitely means that there are moral standards which should not be ignored or minimized.

                I have no use for muck-rakers, but don’t forget that God has set standards by which He will, on His own time schedule, judge every one of us. We do no one a favor if we pretend that wrong is right.

              • Anonymous

                Your partial quote, without context, does not speak for me.

                “Judge not according to the appearance, but judge righteous judgment.” That’s Jesus speaking, in John 7:24.

                I don’t think that means I should go around blabbing about everyone’s conduct (Jesus usually did not), but it does definitely means that there are moral standards which should not be ignored or minimized.

                I have no use for muck-rakers, but don’t forget that God has set standards by which He will, on His own time schedule, judge every one of us. We do no one a favor if we pretend that wrong is right.

            • D

              My guess is your not a conservative or you wouldn’t be asking.

              Judge Not!

        • Anonymous

          Why on Earth would it be embarrassing? They were both single.

        • Anonymous

          Why on Earth would it be embarrassing? They were both single.

        • Anonymous

          Why on Earth would it be embarrassing? They were both single.

        • Anonymous

          If it doesn’t matter why are you bringing it up?

      • Anonymous

        Why? the story was debunked in 2008. Are we going to rehash left wing talking points from 2008?

        It simply makes Skinner appear outdated and sleazy.

    • I understand that your wife wasn’t a virgin when she married you. I guess you could call your wife a slut and skank if this is how you feel about the smear campaign by that sewer rat and slime ball Joe M.

      http://sayanythingblog.com/entry/shocking-new-expose-on-sarah-palin-not-all-that-shocking/

    • Professor Why

      I didn’t know this supposed “Glen Rice” issue, so I did a web search on it… and all I have to say is drop it, this is a non-issue at best and a racist dog-whistle at worst… Or do you like looking foolish and/or like a racist?

    • Professor Why

      I didn’t know this supposed “Glen Rice” issue, so I did a web search on it… and all I have to say is drop it, this is a non-issue at best and a racist dog-whistle at worst… Or do you like looking foolish and/or like a racist?

    • blackbird

      Whats wrong with this world Brian? people regurgitating vile lies.

    • Oh just so boring you are

  • Anonymous

    Timely and spot on! Great write up and thanks for posting Rightscoop!

  • Anonymous

    OMG…Palin’s post is so gonna be reported to Attackwatch by Hussein’s hoodlums

    • Anonymous

      There are way more conservative websites and blogs out there now than liberal..they are going to inundated with reports..if you see something say something..everyone needs to surge this site and do phony reports..like Glen Beck who said he saw 6 atm s in an alley fighting and he reports that he thinks they were trying to kill a job!

      • Anonymous

        I saw a billionaire getting off his corporate jet and snatch a sammich right out of a poor kid’s hands !
        Someone plz report that to Obambam’s snitchbeetchez

      • Anonymous

        I saw a billionaire getting off his corporate jet and snatch a sammich right out of a poor kid’s hands !
        Someone plz report that to Obambam’s snitchbeetchez

    • Anonymous

      I think they have many assigned directly to Palin already.

      • Anonymous

        Yup. Like that bunch called JourNOlisters,
        and that uterine worm Andrew Sullivan

      • georjette

        I saw a flash Palin Glenn Rice tabloid story in the corner of my screen while checking attackwatch site.

      • georjette

        I saw a flash Palin Glenn Rice tabloid story in the corner of my screen while checking attackwatch site.

  • I can sure appreciate her reminding people in this crappy economy that dear leader bragged about wanting to raise a billion dollars. She’s hit it on the nail again- you go girl!

  • I can sure appreciate her reminding people in this crappy economy that dear leader bragged about wanting to raise a billion dollars. She’s hit it on the nail again- you go girl!

  • I can sure appreciate her reminding people in this crappy economy that dear leader bragged about wanting to raise a billion dollars. She’s hit it on the nail again- you go girl!

  • I can sure appreciate her reminding people in this crappy economy that dear leader bragged about wanting to raise a billion dollars. She’s hit it on the nail again- you go girl!

  • Anonymous

    The gop establishment made a bad mistake in trying to keep Palin from a seat at the table. She is calling a pox on both their houses and she has enough ammo to use on every member of the political class.

    • Mark Smith

      A seat at what table? She resigned and was hired by FoxNews and did a reality show. She could have been a declared Presidential candidate BEFORE Tim Pawlenty. Who exactly is keeping her from any seat?

      • Garym

        Release your hatred and then you can turn to the dark side.

        • Mark Smith

          Answer. What seat at what table has she been kept from. She could have been first in.

          • Garym

            Dude, You vomit on every Palin thread. You are Perrynoid, we get it. Now go promote his candidacy, with passion. Stop trashing and thrashing people whose votes you are going to need in the election if Palin doesn’t run, or get the nomination.
            Perry is a good man with some warts. Palin is a good lady with some warts. We choose to defend her.
            What is your problem with that?

            • Mark Smith

              “Dude”, your defense of her is always the same: “Shut up.”
              What seat at what table is she being kept from, and who is holding her back?

              • Garym

                Yawn!

            • Defend? It is frightening to think that you believe EVERYTHING she says and cry foul with her when words other than praise are spoken! Have you ever thought that any criticism about her MIGHT be true? I have yet to see on these boards or on any PRO PALIN blog any constructive criticism shared without serious verbal attacking to the commentor. It is unhealthy to have such blinders on about ANYONE.

          • Garym

            Dude, You vomit on every Palin thread. You are Perrynoid, we get it. Now go promote his candidacy, with passion. Stop trashing and thrashing people whose votes you are going to need in the election if Palin doesn’t run, or get the nomination.
            Perry is a good man with some warts. Palin is a good lady with some warts. We choose to defend her.
            What is your problem with that?

        • Mark Smith

          Answer. What seat at what table has she been kept from. She could have been first in.

      • Anonymous

        Come on, you couldn’t possibly be this clueless. First of all, she had NOTHING to do with the movie The Undefeated. It was made by someone who was studying the Tea Party, saw Sarah and the reaction she received at the rallies and began looking into her history. The more he looked, the more he was amazed how wrong the MSM narrative was about her and he decided to do a movie to set the record straight and make a lot of money in the meantime. He spent a million dollars of his own money making it. Second, “seat at the table” refers to the Republican Establishment’s efforts joining with the Left in trying to freeze her out or destroy her for the last three years.

        • Rebecca Mansour (Palin’s online/Facebook voice-a LA screenwriter and creator of C4P) and Tim Crawford-SaraPac treasurer- approached Bannon about making the a 30 minute film after the 2010 midterm elections – Bannon wanted to do a longer version-you want to tell me these people have nothing to do with Palin?

          The movie was to explain her stepping down as governor-more so to those that questioned it rather than to those that already believe everything she says. She wanted to let people know where she had come from and who she was and what she had accomplished as a political figure in AK.

          Don’t you think it is a tad egocentric to have an hour long film about yourself-she did it mainly to counter the criticisms of her stepping down as governor. She is smart enough to know that that was a hazardous move for her if she was ever going to move up in politics!

          Also, she has had her eye on the Presidency since she became MAYOR of Wasilla-as stated by an aide of hers! No worries- she will run-if not this time -perhaps in ’16!

  • Anonymous

    Pretty amazing. Who else is talking like this?

  • Anonymous

    Sarah Palin –
    “So, this is why we must remember that the challenge is not simply to replace Obama in 2012. The real challenge is who and what we will replace him with. It’s not enough to just change up the uniform. If we don’t change the team and the game plan, we won’t save our country..”

    Just, “Anyone is better than Obama” is not good enough to save our country. Not even close.

    SP has withstood years of vicious vetting, while still effectively getting Obama, and his media, ‘wee – weed up’. We need a real reformer for president. One who doesn’t just say the right things now, but who has already fought Obama as a commonsense, constitutional conservative – even long before it would much help a campaign – and governed as a commonsense, constitutional conservative before that too. Sometimes both. Others can only promise the fortitude Palin has already shown us.
    Sarah Palin 2012

  • Garym

    A beautiful mind.

  • Garym

    A beautiful mind.

  • GetWhatYouPayFor

    Rice likely shot Skinner down. Pathetic bringing up this tripe!

  • Mary Beth House

    Hey Brian Skinner…

    How about instead of dragging up tabloid fantasies, you actually address Governor Palin’s words from this post…which are very timely and key in nicely with one of the most important issues we’re facing as a nation?

  • Anonymous

    Keep holding them accountable, Sarah. Lord knows the corrupt media won’t.

  • Anonymous

    Palin has been right about the issues all along and she continues to be right. All the nasty personal attacks on her do not change the fact that she is right.

  • Anonymous

    Obama Sum Bags are Out

  • He was an awesome fundraiser, which is why he is President (besides feeding on media-driven hatred of George Bush), and with him controlling the levers behind the curtain this time around he should not be underestimated.

    Obama has some of the absolute nastiest and deadliest political thugs working his behalf, and that will make the Clinton-goon sabotage of White House computers and phone systems before Bush arrived seem tame.

  • Anonymous

    This is brilliant!!!! Sarah Palin is not only doing what is right but she has an issue that will bring and unit conservatives, independents and democrats her way when she announces! It is not republicans is good and democrats is bad or vise versa.

    It’s the permanent political class is bad and red, white, and blue America is good!!!! Oh yeah! The Reagan Democrats are coming home! You betcha!!!!

    Palin 2012!!!

  • Anonymous

    Good article. Is Sarah palin going to be a political strategist, or is she going to run? We’ve already got rove as a perpetual yapper. We need a candidate, not another analyst.

    • Anonymous

      It was gobsmaccking when Palin took “aim” at crony capitalism. Now it is evident that she is deadly serious. She’s making enemies all around… and this is one issue that will not further endear her to the establishment.

      They don’t want to look at her record in Alaska… they say it’s a small state, insignificant etc. They said the same thing about Clinton’s… what’s that tiny state again… oh yeah…Arkansas… did they not say they same about Arkansas? (NOT!) They are defecating and floor pissing at the very idea she will gain traction. She’s impressing more and more .. heck… it’s possible that even some equivocating lefties could sit up take notice, hold their noses, and vote for her.

      As for Joe McGinnis… a creep is still a creep. It’s amazing that Todd didn’t punch his lights out two years ago.

      • KenInMontana

        Lots of folks “go missing” in Alaska, happens all the time there, and every once in awhile here. 😉

  • Iron fist in a Velvet Glove. Look OUT Libs! 🙂 Here We Go

    • Anonymous

      An iron fist it looks like… she has scales of titanium and a spine of steel as well. She’s probably a velvet Maggie Thatcher…. watch out Libs! absolutely!

      p.s. looked at your profile… a man who loves hounds can’t be all bad… now can he?

  • Anonymous

    I wish they would tell the truth and call it Marxism. And as we have seen Marxist and oppressive regimes never work.

  • Ben

    I’ll take on defending the undefendable – not necessarily my personal opinions, but just trying to make an argument to support a position. I’ll now present the argument in defense of GE.

    GE’s tax department is the envy of the corporate world, worldwide that is. They are very efficient at what they do. They do lots of planning and strategising. Its all in compliance with existing tax laws, Federal, states and other countries. GE in fact does pay lots of taxes, payroll taxes, excise taxes, state corporate taxes, taxes to foreign juristictions etc. They also plan in accordance with tax laws to avail themselves of tax credits as they exist in the many tax jurisdictions they do business in. So, they don’t pay any corporate income taxes to the US, although their financial statements show substantial profits. From what I know, its completely legal, as they are in compliance with tax laws. Certainly, the IRS examines their tax returns each year. If there’s something found that aint kosher, we’d all be hearing about it from the libfag media. They only thing they are incorrect in is political correctness. They’re only doing just what the tax laws encourage them to do. And they are very efficient at what they do.

    One reason their financial statements shows a profit and they don’t pay US corporate income tax is that they are a multinational company. They operate worldwide. Tax laws vary from country to country. But the US doesn’t tax profits that aren’t repatriated. That is profits that are not brought back to the US aren’t taxed at the corporate level. Again, GE is only doing what they are encouraged to do by US corporate tax law. Thats what makes them politically incorrect.

    Not repatriating the profits to the US can have different side affects. It is my understanding that Microsoft has tons and tons and tons of cash on their balance sheet. There are some who would like them to use some of it to pay out more in dividends. But they really can’t use alot of it to pay things like increasing their dividends, as they can’t bring it back to the US without getting creamed in taxes on it. So, it stays abroad and gets invested there, creates jobs etc.

    • Anonymous

      Of course you’re right that GE isn’t doing anything technically wrong. But the reason they are able to take advantage of the tax code lies at the heart of the problem with the tax code. Lobbyists lobby to get laws passed that allow companies like GE to get these rules in place to take advantage of.

      In other words, you own 10 lemonade stands while I own 50. I lobby to get a law passed that says any company with more than 49 stands is allowed to deduct the cost of lemons. How long are you going to be able to compete with me? Oh, and by the way, I gave money to the politicians who will vote on this bill. That’s crony capitalism.

    • Anonymous

      Of course you’re right that GE isn’t doing anything technically wrong. But the reason they are able to take advantage of the tax code lies at the heart of the problem with the tax code. Lobbyists lobby to get laws passed that allow companies like GE to get these rules in place to take advantage of.

      In other words, you own 10 lemonade stands while I own 50. I lobby to get a law passed that says any company with more than 49 stands is allowed to deduct the cost of lemons. How long are you going to be able to compete with me? Oh, and by the way, I gave money to the politicians who will vote on this bill. That’s crony capitalism.

  • Ben

    I’ll take on defending the undefendable – not necessarily my personal opinions, but just trying to make an argument to support a position. I’ll now present the argument in defense of GE.

    GE’s tax department is the envy of the corporate world, worldwide that is. They are very efficient at what they do. They do lots of planning and strategising. Its all in compliance with existing tax laws, Federal, states and other countries. GE in fact does pay lots of taxes, payroll taxes, excise taxes, state corporate taxes, taxes to foreign juristictions etc. They also plan in accordance with tax laws to avail themselves of tax credits as they exist in the many tax jurisdictions they do business in. So, they don’t pay any corporate income taxes to the US, although their financial statements show substantial profits. From what I know, its completely legal, as they are in compliance with tax laws. Certainly, the IRS examines their tax returns each year. If there’s something found that aint kosher, we’d all be hearing about it from the libfag media. They only thing they are incorrect in is political correctness. They’re only doing just what the tax laws encourage them to do. And they are very efficient at what they do.

    One reason their financial statements shows a profit and they don’t pay US corporate income tax is that they are a multinational company. They operate worldwide. Tax laws vary from country to country. But the US doesn’t tax profits that aren’t repatriated. That is profits that are not brought back to the US aren’t taxed at the corporate level. Again, GE is only doing what they are encouraged to do by US corporate tax law. Thats what makes them politically incorrect.

    Not repatriating the profits to the US can have different side affects. It is my understanding that Microsoft has tons and tons and tons of cash on their balance sheet. There are some who would like them to use some of it to pay out more in dividends. But they really can’t use alot of it to pay things like increasing their dividends, as they can’t bring it back to the US without getting creamed in taxes on it. So, it stays abroad and gets invested there, creates jobs etc.

  • Sarahs words and speaches are being copied everywhere, even Boehner uses it today when he spoke.. Sarah is the candidate America will choose..this is what matters, the book crap on the posts below tell me one thing and one thing only, the left knows she is going to run LOL LOL

  • Anonymous

    We the people will retire the political class.
    Just waiting for the opportunity.
    Until then, we’ll endure the smears.
    It makes us stronger.

  • go away Governor Palin

    • 1st, I love SP. 2nd. I don’t think she will run, press hurts her too much. Perry is proven, sorry, you die hards. Every attack on Perry or Palin, is ammo for DEMs. Why can’t you stick to reality. Obmana is threat to us. Every O DEM needs to be voted out. dig up the dirt on DEMs, and lets roll, together.

      • Anonymous

        Rick Perry is a poster child for crony capitalism. She was talking mostly about him.

      • Anonymous

        Well, too bad for you because Sarah is definitely running and she will be the next President. She is the real deal as the facts set forth in The Undefeated and in those 25,000 emails the MSM wanted thinking they could find something to sink her with. The reason you don’t hear anything about those emails now is because they proved Sarah is the real deal committed to the People. Who else could withstand that kind of anal exam? She already sets the agenda of the election and she hasn’t announced yet. She is a political genius and no one is even close to playing on her level. Watch and learn.