Tax Fariness for US Automakers - - 5th Generation Camaro Enthusiasts
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post #1 of 3 Old 12-16-2008, 08:38 PM Thread Starter Founder / Former Camaro Disciple
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Exclamation Tax Fariness for US Automakers

December 1 WSJ editorial "America's Other Auto Industry" questions whether taxpayers should provide temporary federal loans to American automakers, but conveniently ignores one fact: Our taxpayers already give huge sums of financial assistance to foreign car companies right here in the U.S.

As proposed, the requested bridge loans represent roughly $4 billion in assistance to U.S. auto makers, that is, the cost of a low-interest loan. With 240,000 employees spread among the three U.S. companies, that works out to less than $16,000 in temporary taxpayer assistance per job.

By contrast, foreign auto makers receive far more from U.S. taxpayers in various forms of government assistance. In Tennessee, for example, state and local authorities offered Volkswagen $577 million in lowered taxes and other benefits in exchange for the plants it is constructing, at a staggering cost of $288,000 per job created.

Similarly, Toyota is receiving $300 million in support for its plant in Texas, or $150,000 per job created. Alabama provided Hyundai, Toyota, Honda and Mercedes an average of $111,000 in incentives per job. The list goes on. Unlike the temporary assistance GM, Ford and Chrysler are seeking, in almost all the cases, U.S. taxpayer subsidies to foreign companies never need to be paid back.

Let's make sure to keep the discussion balanced. Toyota, Nissan, Honda, Mercedes, BMW, Kia and Hyundai already receive far more in permanent financial support from our own taxpayers than what the U.S. auto industry is seeking. Our own companies deserve equal consideration, no more, no less.

Stephen Collins
Automotive Trade Policy Council

ATPC is the trade association which represents Chrysler LLC, Ford Motor Co. and General Motors Corp.

Source: Wall Street Journal

......and the mainstream media won't tell you this WHY???

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post #2 of 3 Old 12-16-2008, 08:39 PM
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wow...less and less common sense in our government...unbelievable.

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post #3 of 3 Old 12-16-2008, 10:07 PM
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Originally Posted by POWERFREAK View Post
wow...less and less common sense in our government...unbelievable.
because they think we're stupid when the majority of us are not

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