It is now common knowledge that General Electric pays either nothing or very little in federal income tax on the profits it makes. It is also common knowledge that Jeffrey Immelt, the CEO of GE, is on the President’s job council and regularly advices the president on business. Crony capitalism is alive and well in the Obama administration.
Not long ago another billionaire businessman snuggled up to the crony in chief, Mark Zuckerburg was seen meeting with the President on numerous events. Today I came across an interesting story:
Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice. (source)
I guess it pays to make friends with Obama. Of course this takes money away from the Federal budget and causes our deficit to be at record levels, but who cares about deficits when you can count another billionaire as your friend.
If anyone really thinks Obama is for helping the middle class and wants to take from the “evil rich” to spread the wealth around, you are lying to yourself. Look what the President is doing for spring break, playing golf with middle class hero Tigger Woods. Michelle was so happy about it that her and the girls are in Colorado skiing.
President Obama does not care about the middle class. He does not care about the poor. He definitely does not care about the United States of America. All he cares about is himself. President Obama is just another selfish politician that will say what ever you want to hear so that you will cast your vote for him. He does not care if you are struggling to pay your bills, as long as he gets to rub elbows with famous people like Tigger Woods, Beyonce and Mark Zuckerburg.