SPREAD THAT WEALTH!

GM and Chrysler shouldn't be taxed because 1) the financial firms are what drove us into a recession, not the auto industry. 2) General Motors is just on the cusp of turning the whole ship around, so taxing them could jeapordize their recovery, and then, in turn, risk the entire US and Canadian investment into the company. 3)What would they tax? Neither GM nor Chrysler is profitable yet. They'd pay this tax with the government funds they already have, which doesn't help anybody.

The Obama administration and Dem Congress are wholly owned subsidiaries of Big Labor-- this is evident in the rape of the GM bond holders, and giving 20% ownership of GM to the Unions but more evident is the latest proposal not to tax the so called "Cadallac" health insurance plans of union members. In other words two people earning exactly the same amount of money and exactly the same health plan have different tax liabilities because one is a union member and exempt and the other not. The 2010 Congressional election will be a bloodbath for the Dems.

....why not have Fair Tax and take back the power over our money...then there would be no need for gov man to rob one group over another

That is a crock. TARP was for toxic asset relief. B.O. purchased the automakers with TARP money, and even though they asked for help, B.O. should have LOANED them money, not bought shares with TARP $$$. He bought UAW votes as well, and maintains control of GM & Chrysler. The argument of them not being profitable yet doesn't hold water, and the author is right on with the redistributive angle. You still owe on TARP? you should not be exempt.

It might have to do with the exorbitant "guaranteed bonuses" the bankers are giving themselves.

Chrome's comments with regard to the auto industry are ludicrous. Chrysler has long been failed and bringing Nardelli on as CEO was the final nail in its coffin. FIAT will only use it to gain access to America again, then will abandon it altogether - in reality, Chrysler should have been shut down by Daimler. GM was failing before 2008 as a result of incompetent management and lazy, overpaid UAW workers who raped the company with ever higher benefit demands. The demise of GM would be a loss only to the union and its management, as its shareholders and bondholders have already been pillaged, as have the taxpayers.

Comments like Allen's are exactly why we need a national test before anyone is allowed to vote - sorry, but you're an idiot!

One solution would be to tax the profits of all those who took TARP funds for a predetermined period or until the funds are repaid. Companies that don't turn a profit would pay no tax.

Much of the outcry is over a few banks who, after shooting themselves in the foot with bad decisions, are in a position to make significant products after taking TARP money. The better solution is to target everyone who took TARP funds and base taxes on profits, even if it cuts into executive bonuses.

Genesis - I stand by what I have said - there is a very real reason GM and Chrysler have failed, while other car manufacturers have prospered. It has to do with product quality, product appeal and product value. Both companies have trotted out the same tired old product lines over and over. While they have improved quality, they have done so in a hesitating and unsure manner. At present, Chrysler is irrelevant.

Allen - your arguement is so cliche and to be honest, displays a total lack of facts. To say that GM has failed, due to product quality, product appeal & value is laughable.
Fact - GM sold more cars/trucks in the US in 2009, then any other manufacturer. Amazing considering there was at least 90 days when plants weren't running.
Fact - In the Top Ten nations, GM sells more cars/Trucks than Toyota in 8 out of the 10 countries. The only countries where Toyota outsells GM is Japan (surprise) and Australia.
Fact - In 2009, Toyota once again led all Manufacturers in total recalls (2nd straight year they've claimed that title)
So tell me again about the product appeal & product quality!

Genesis - Worldwide, Toyota is the number 1 auto maker, followed by Volkswagen, which is poised to surpass Toyota. (Technically, with the acquisition of Suzuki, Volkswagen's worldwide share would be No.1.) I have never owned, nor desired to own, a Toyota - so I am not advocating their superiority or market supremacy. Quite frankly, the Korean manufacturers are gaining on all others dramatically, in sales volume and quality, although GM could take the lead in China. A newer player, Tata Motors, while statistically insignificant at present, has acquired luxury brands from Ford (Jaguar, Land Rover, Volvo) and is attempting to expand beyond India and Asia.

I agree with Allen 100%. We lost a large sum of money due to GM Management stupidity. I own 3 Toyota's and would invest in Toyota if I had any money left to invest. Although I find big banks despicable as well, there is no way they can do this to just a few large banks and not all the others they bailed out. No doubt about it, the democrats are going to make the next election very successful for the Republican party.