[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Elon Goes "DARK MAGA" - Joins Trump ON STAGE! Media Melt Down Ensues The Truth About the Memphis Belle (No Hollywood) JD Vance ENDS CNN Dana Bash’s Career LIVE on Air Hell Let Loose - MOATS with George Galloway Important Message: Our Country Our Choice Israel is getting SLAUGHTERED in Lebanon, Americans are trapped | Redacted Warren Buffett has said: “I could end the deficit in five minutes. FBI seizes Diddy tape showing Hillary Clinton killing a child at a 'Freak Off' party Numbers of dairy cow deaths from bird flu increasing to alarming rates Elites Just Told Us How They'll SILENCE US! Reese Report: The 2024 October Surprise? Americans United in Crisis: Mules Carry Supplies to Neighbors Trapped by Hurricanes Devastation in NC NC STATE POLICE WILL START ARRESTING FEDS THAT ARE BLOCKING AIDE FROM OUTSIDE SOURCES France BANS ARMS SALES To Israel & Netanyahu LASHES OUT At Macron | Iran GETS READY CNN Drops Bomb on Tim Walz, Releases Blistering Segment Over Big Scandals in His Own State EU concerned it has no influence over Israel FT How Israels invasion of Lebanon poses risks to Turkiye Obama's New Home in Dubai?, Vaccine Skeptics Need To Be Silenced! Bill Gates Hillary Clinton: We Lose Total Control If Social Media Companies Dont Moderate Content Cancer Patients Report Miraculous Recoveries from Ivermectin Treatment Hurricane Aid Stolen By The State Of Tennessee? The Pentagon requests $1.2bn to continue Red Sea mission US security officials warn of potential threats within two weeks, ramped-up patrols. Massive Flooding Coming From Hurricane Milton How the UK is becoming a ‘third-world’ economy What Would World War III Really Look Like? It's Already Starting... The Roots Of The UK Implosion And Why War Is Inevitable How The Jew Thinks “In five years, scientists predict we will have the first ice-free Arctic summer" John Kerry in 2009

(s)Elections
See other (s)Elections Articles

Title: The Obama Boomerang
Source: antiwar.com
URL Source: [None]
Published: Sep 27, 2010
Author: Raimondo
Post Date: 2010-09-27 11:15:26 by ghostdogtxn
Keywords: None
Views: 632
Comments: 66

Post Comment   Private Reply   Ignore Thread  

Begin Trace Mode for Comment # 4.

#1. To: ghostdogtxn (#0)

The Obama Boomerang

...always veers to the left and hits the wrong target every time. What else could you expect from a niggerfied stick flying through the air??

X-15  posted on  2010-09-27   11:56:15 ET  Reply   Untrace   Trace   Private Reply  

ghostdogtxn  posted on  2010-09-27   12:56:01 ET  Reply   Untrace   Trace   Private Reply  

Why do you have to go there?

He's a fascist, and that's enough insult for anyone...

Please don't add control freak wannabe to your resume.

Jethro Tull  posted on  2010-09-27   13:42:33 ET  Reply   Untrace   Trace   Private Reply  

#5. To: Jethro Tull, 4 (#4)

another of the kenyan's genius -

When you think of Obama, the words Clumsy, Bungling, Inept, Incompetence just jump right out at you ...... !!!!! And those are the nicest things I can say about him .......

It seemed like a miracle that the US President was able to convince BP to establish a $20 billion escrow fund to compensate those hurt by the oil plume in the Gulf of Mexico. After all, he had no constitutional power to force them to do so; so had to resort to Chicago-style negotiating. Ever wonder why BP made the concession so quickly?

Take a closer look at the effect on BP's finances for the answer:

1. BP will establish a $20 billion fund, but will pay only $7 billion into it during 2010.

2. BP is a British corporation, but has a very large operating entity in the US.. However, only about 30% of its income is derived from the US.

3. By Generally Accepted Accounting Principles (GAAP), BP must book the entire $20 billion expense in the year accrued. Therefore, they will book a $ 20 billion expense in 2010, reducing their US tax liability by $7 billion.

4. The President also convinced this massive corporation to show their concern for the "small people" by withholding dividends to their shareholders for the last 3 quarters of 2010. This reduces their outward cash flow by about $7.5 billion, including approximately 40% of that amount to US citizens. If the Bush tax cuts survive through 2010, the US Treasury will lose another $450 million in taxes on that amount. No need to even discuss the effect on the US economy.

Now, let's summarize the results into bullet points easily understood by all.

BP Cash Flow:

o Escrow funding ($7 billion)

o Dividend saving $7.5 billion

o Tax savings $7 billion

o Net favorable cash flow: $7.5 billion

US Treasury Tax Receipts:

o from BP Corporate income tax.... minus $7.5 billion

o from BP Shareholders' income tax ..... minus $0.45 billion

o Net loss of US dividend income tax receipts ..... minus $3.0 billion

o Total tax receipts loss: $10.95 billion. A huge hit!

Many feared this would happen. After all, the US President was the most inexperienced man in the room. Did he "Kick Ass", or did he get "Sucker Punched"? Or, is this another 'back room deal' Obama negotiated which will ultimately get him a huge financial 'plum'? Should Obama be negotiating anything dealing with money and finances at all?

Bottom line: The $20 Billion BP is putting up will create a $7.5 Billion positive cash flow for BP this year and a $10.95 billion loss to the US Treasury. But, Obama actually thinks he really did something special and "kicked ass'.

In reality, BP executives are laughing at him and kicked his ass. He is in over his head when he starts dealing with savvy business people.

Lod  posted on  2010-09-27 13:47:24 ET  Reply   Untrace   Trace   Private Reply  

ghostdogtxn  posted on  2010-09-27 14:21:51 ET  Reply   Untrace   Trace   Private Reply  

Top • Page Up • Full Thread • Page Down • Bottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]