The Internal Revenue Service urged a bankruptcy judge to reject solar panel maker Solyndra LLC’s bankruptcy plan Wednesday, saying it amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes. “The undeniable conclusion is that tax benefits drive this plan,” attorneys for the IRS wrote in a bankruptcy pleading. Arguing that the bankruptcy court ought not confirm a plan “whose principal purpose is tax avoidance,” attorneys said in filings in U.S. Bankruptcy Court in Delaware that the tax breaks would be worth more money than funds set aside for creditors.
Comments: Delaware.....Joe Biden's Delaware? An interesting place to be holding a bankruptcy proceeding for a company that was physically in California.
Just reading this article told me a lot about what is wrong with our economy. Something that is not Obama's fault. Net operating losses ARE losses. They should never be viewed as assets. If our tax code and regulatory environment has (and it has) created a situation in which losses are assets, there is a fundamental structural flaw in our economy.
The Solyndra deal was a stinker from the beginning. 0bama gave millions of dollars to a failing company; he knew it was failing, but he did it anyway, since his bundlers and friends would reap the benefit of these millions. 0bama then rewrote contract law so that the taxpayers would be the last to get their money back; first in line were his friends who would run the company. Then when the company went bust, 0bama's friends stayed on and milked every dime out of it they could; now they do not want to pay the taxes. They should go to prison.
President Obama said Saturday that he believed that the chances of a final, comprehensive nuclear agreement being struck with Iran are less than 50-50. However, Obama defended the interim deal struck between the U.S., Iran, and five other world powers last month in Geneva, saying that diplomacy had to be tested as a solution to the crisis and was the best way to prevent Tehran from acquiring automatic weapons. "If you ask me what is the likelihood that we´re able to arrive at the end state ... I wouldn´t say that it´s more than 50-50," Obama said. "But we have to try."
How affordable is the Affordable Care Act? Not very, it would seem for Washington state resident Jessica Sanford. The self-employed single mother was cited last month as an ObamaCare success story by President Obama in the Rose Garden. But according to Washington State Wire, she´s now finding out she doesn´t qualify for the tax credits she was originally told she´d get. Sanford, who told the news site she hasn´t had health insurance in 15 years, initially said she was excited by the prospect of purchasing a policy for her and her son under ObamaCare. Before ObamaCare, Sanford was getting health insurance rate
France and Mexico have angrily demanded prompt explanations from Washington following fresh, "shocking" spying allegations leaked by former US security contractor Edward Snowden. The reports in French daily Le Monde and German weekly Der Spiegel revealed that the National Security Agency secretly recorded tens of millions of phone calls in France and hacked into former Mexican President Felipe Calderon´s email account. French Interior Minister Manuel Valls described the revelations in Le Monde newspaper as "shocking", in an interview Monday with Europe 1 radio.
ObamaCare may have its skeptics, but one group is decidedly optimistic -- prison inmates. "At least 50 percent of the [prison] population has symptoms of mental health disorders," said Brad Brockmann, executive director of the Center for Prisoner Health and Human Rights at Brown University. "With Medicaid expansion, we have an incredible opportunity to take care of the very neediest, the very poorest while freeing up huge amounts of money within the states through not having to provide that care in correctional settings."
President Obama has made many promises about his signature health care plan, but one of the simplest was an assurance that it would lower national health care spending and save every family thousands of dollars. For example, in May 2009 he hailed "comprehensive health care reform -- so that we can do what I pledged to do as a candidate and save a typical family an average of $2,500 on their health care costs in the coming years." But now government actuaries have reached a different conclusion, finding that ObamaCare will actually increase health care spending by $621 billion over the next
A federal grand jury on Wednesday indicted Quinshaunta R. Golden — a onetime top aide to Dr. Eric E. Whitaker, one of President Barack Obama’s closest friends — on bribery, theft and fraud charges, accusing her of embezzling about $433,000 in state health department funds. The money from the kickback scheme began flowing to Golden in July 2007, when Whitaker headed the Illinois Department of Public Health, and Golden was his chief of staff, the indictment alleges. It allegedly kept flowing until October 2008, by which time Golden and Whitaker had left state government
Around the same time the nation was transfixed on the hunt for the Boston Marathon bombers last month, thieves on the other side of the country pulled off a little-noticed heist -- swiping 559 pounds of explosives from a federal storage facility in Montana. As of Friday, not one ounce of it has been found. The incident, federal officials believe, was not terrorism-related. But it´s the latest to raise security concerns in an age when authorities are warning about the desire of violence-bent terrorists to inflict mass casualties with bombs.
On his way to the podium at the memorial ceremony for former South African president Nelson Mandela, President Obama walked down the line of dignitaries, greeting other leaders there to pay their respects. Among the hands shaken: that of Cuban leader Raul Castro. Obama neither made a special effort to shake Castro’s hand nor to avoid him. A snub might have been awkward: In his speech, Obama praised Mandela’s “greatest gift” as “his recognition that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by
The Obama State Department has finally released a second round of photos revealing the harrowing devastation wrought by a terrorist attack on the U.S. Consulate in Benghazi on Sept. 11, 2012. The new photographs depict rampant damage to the consulate. They show charred walls, smoldering fires, Arabic graffiti defacing exterior walls, and scattered debris throughout. The extent of the damage would lead any reasonably serious person to conclude that this was a cold, calculated attack, carefully coordinated to mark the 11th anniversary of Sept. 11, 2001. Unfortunately for the American people, the Obama-Clinton-Rice cabal that led to the Benghazi cover-up was
A “presidential selfie” featuring President Barack Obama, British Prime Minister David Cameron, and Denmark’s Prime Minister Helle Thorning-Schmidt at Nelson Mandela’s memorial service began making the rounds this morning, but it’s the person not included in the frame who caught everyone’s attention: As anyone with two eyes and a Twitter account has noticed, Michelle Obama does not appear amused. Of course, though a picture says a thousand words, not all of those words are necessarily true. FLOTUS might not have even known the photo was taking place. Or she could disapprove of funeral selfies. Either way.
A black fashion student says he was brutally attacked by a gang of Hasidic men who shouted anti-gay slurs at him while he was walking through Williamsburg after a night of partying, the Daily News has learned. Taj Patterson, 22, was headed home to Fort Greene around 4:30 a.m. on Dec. 1 when he says more than a dozen ultra-Orthodox Jewish men began assaulting him on Flushing Ave. and yelling, “Stay down, f----t!”
Just how much do many Hollywood liberals hate conservatives? In an interview with Playboy, Ben Affleck said, "When I watch a guy [on film] I know is a big Republican, part of me thinks, I probably wouldn’t like this person if I met him": PLAYBOY: You developed a political profile campaigning for presidential candidates Al Gore, John Kerry and Barack Obama. How did that come about? AFFLECK: I grew up in a house with a mother who was a teacher and a Freedom Rider—very left-wing Democrats living in a heterogeneous working-class neighborhood. I picked up a lot of those values there, and I
MSNBC host Melissa Harris-Perry opened her program over the weekend with a commentary about the Affordable Care Act’s colloquial moniker: “Obamacare.” She said that the word was originally created as a “derogatory term,” designed by white men as a way to delegitimize President Barack Obama and his achievement. However, she said that the term will soon be synonymous with all of Obama’s accomplishments and she urged her audience to use the term with pride. “I want to talk today about a controversial word. It’s a word that has been with us for years, and like it or not, it’s indelibly
President Obama, former president George W. Bush and their wives departed Washington Monday morning on Air Force One on their way to a memorial service in South Africa for Nelson Mandela. The president and first lady Michelle Obama are being accompanied by Mr. Bush, former first lady Laura Bush and former Secretary of State Hillary Rodham Clinton on the flight to Johannesburg. A four-hour memorial service will be held on Tuesday for South Africa’s first black president. Mr. Mandela, the anti-apartheid revolutionary, died on Thursday at age 95. Former President Bill Clinton and daughter Chelsea are traveling separately to South Africa. Former President