UAW: 2 – Taxpayers: 0

As those in the private sector continue to see bonuses go the way of the dodo, union members of taxpayer-funded General Motors are getting a $5,000 bonus to sign new contracts.  Now normally, when bonuses are handed out, it’s because the company is doing well.  Except it’s stock is in the toilet, which is bad news since the taxpayers are the stockholders.  I guess selling products like the Volt that no one actually wants isn’t good for the bottom line (but hey, Obama likes it and that’s what counts).

The US government still holds 500 million GM shares.  So when is GM going to pay back the $15 billion they owe the taxpayers?


About Mystic Cowgirl

I worked overseas in the aid game for longer than I'd like to admit and learned several important things: 1) Third World countries aren't poor because America is rich. They're impoverished due to socialist governments that provide neither rule of law nor basic infrastructures; 2) These socialist governments redistribute wealth from taxpayers to the government workers. There's no benefit to the poor or downtrodden, and certainly not to the general welfare in terms of infrastructure improvements. 3) America is moving toward the Third World model. Rule of law has been subverted because equality under the law is disappearing as special interests carve out exemptions to regulations and special favors under the law. The redistribution of wealth to government began decades ago -- total compensation for government employees now outpaces salaries in the private sector.
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