Boeing Receives Tax Rebates; Pays No Income Taxes for 3 Years

[link to politics.gather.com]

Boeing is a large employer in the Pacific Northwest making planes. It has done well in the past three years earning $10 billion in domestic pre-tax profits between 2008 and 2010. And this, it is said by Republicans, is a good thing for America because a successful business pays taxes into the coffers of the U.S. government.

Only one problem; the U.S. government paid Boeing "a rebate of $75 million."

Incidentally, a 2008 General Accounting Office report found that the airline and arms maker "had 38 subsidiaries in foreign tax havens."

Update: Fisker Karma Electric Car Gets Worse Mileage Than an SUV

[link to www.forbes.com]

The Fisker Karma electric car, developed mainly with your tax money so that a bunch of rich VC’s wouldn’t have to risk any real money, has rolled out with an nominal EPA MPGe of 52 in all electric mode.

....In the case of the Fisker Karma, we get a true MPGe of 19. This makes it worse than even the city rating of a Ford Explorer SUV.

Congrats to the Fisker Karma, which now joins corn ethanol in the ranks of heavily subsidized supposedly green technologies that are actually worse for the environment than current solutions.