Crony capitalism * is a term describing an allegedly capitalist economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth.
Crony capitalism is believed to arise when political cronyism spills over into the business world; self-serving friendships and family ties between businessmen and the government influence the economy and society to the extent that it corrupts public-serving economic and political ideals.
Pictured at left is a very good example of Crony-Capitalism in it’s most extreme from. Sitting next to Barack Hussein Obama is Mr. Jeffrey Immelt, the current CEO of General Electric. Obama appointed this crony as the head of another of his do-nothing community organizing-type commissions, this time it was the Council on Jobs and Competitiveness. With G.E.’s history of being the biggest U.S. Job Exporter in history, I find it astounding that Immelt/G.E. is on this council. Maybe this council should be more aptly titled the Council on how to Export U.S. Jobs overseas and further crush the American economy ? Mr Immelt was also present when the President of China was given a warm, communism-promoting state dinner in our very own whitehouse earlier this year. Several Media outlets made sure to point out the fact that Immelt is a Republican who gave to both political factions in 2008, while using this fake Council on Jobs announcement to try to make people think Obama is a born-again Capitalist, instead of the far-left ideologue he has proven to be over the last two years of trying to destroy capitalism in America. Also of note here, is what kind of a Republican would have given money to elect a far left ideologue like Obama back in 2008? Certain types of greedy capitalists tend to vote for both sides of the aisle, especially when climbing into bed with the U.S. Government to enrich themselves through Crony-Capitalism is their end goal.
Recently in the news, we saw some shocking reports on how G.E. and Mr. Immelt were shown the favoritism inherent within the Crony-Capitalism of the Obama administration today, in the fact that they will not pay any taxes on over $14 million dollars in profits. In fact, they filed for a $3.2 Billion dollar rebate from the taxpayers! Check out this short video, which is sure to make your blood boil as you are trying to write out that tax payment check out soon !
In another version of Obama’s Crony-Capitalism Gone Wild, we have the infamousHealthcare waiver handouts to Obama supporters and assorted crony campaign puppet organizations. The total number of crony waivers handed out to allow certain people to not have to obey the Obamacare laws is now over 1000, involving protectionism for over 2.4 million of “his” people. The U.S. House of Representatives held hearings in trying to determine how Obama’s Socialist healthcare puppet, Katherine Sebelius figures out who qualifies for the Obamacare waivers. The Heritage Foundation outlines it all here, in which the following comes to light:
” Darrell Issa (R-CA), chairman of the House Oversight and Government Reform Committee, further questioned the fairness of the application process. He noted that HHS bureaucrats know exactly what company’s application they are reviewing and whether they are union plans. This has arguably led to the disproportional acceptance of waiver application from large corporations and unions. Haislmaier further emphasized that the use of a waiver process has led to a system that is based not on “the rule of law” but rather on “the rule of who you know.”
When discussing Crony-Capitalism Gone Wild and Obamacare waivers , we must not leave the Unions out of the discussion here. RealClearPolitics shines some sunlight on that here, in which the extended arm of Organizing for Barack in 2012 gets some exposure:
” Most noteworthy: One-fourth of all the waivers (182) so far have gone to Big Labor groups across the country.”
And the Service Employees International Union, which poured $60 million into Democratic/Obama coffers in 2008 and millions more into the campaign for the federal health care takeover, added four new affiliates to the waiver list: SEIU Local 2000 Health and Welfare Fund, representing 161 enrollees; SEIU 32BJ North Health Benefit Fund, representing 7,020 enrollees; SEIU Local 300, Civil Service Forum Employees Welfare Fund, representing 2,000 enrollees; and SEIU Health & Welfare Fund, representing 1,620 enrollees.
That’s in addition to three other previous SEIU waiver winners: Local 25 SEIU in Chicago with 31,000 enrollees; Local 1199 SEIU Greater New York Benefit Fund with 4,544 enrollees; and SEIU Local 1 Cleveland Welfare Fund with 520 enrollees. This brings the total number of Obamacare-promoting SEIU Obamacare refugees to an estimated 45,000 workers represented by seven SEIU locals.
The liberal ideologues and their Puppet-Master Obama, along with extra funding from the economic terrorist George Soros and his propaganda arms such as Media Matters, are digging in deep for the 2012 election battle. All the money and propaganda in the world can no longer hide the fact that they are nothing more than groups of ragtag anti-American community organizers hell bent on destroying this country. There are 586 days until the 2012 elections, so lets make every singleone of them count, and keep on exposing the anti-American agenda of the leftist ideologues and Obama. The 2012 elections will make the 2010 massive beat-down of the leftist agenda look like small potatoes, when the hordes of fed-up Patriot Americans hit the polls!
Below is a link to Daniel’s latest podcast – click to listen or right click and save-as to download it for later.
Tax Evasion [Audio]