GRAND THEFT AUTO = GM

General Motors pension plan is coming under scrutiny from both Dems and Reps. Isn't that great? Obama is finally getting what he is always blabbing about, Bipartisanship.

An independent investigator will look into the federal government's different treatment of unionized and salaried Delphi retirees' pension benefits. Delphi was a GM supplier, and GM took over Delphi assets and liabilities during the bankruptcy process. GM agreed to "top up" the pensions of Delphi blue-collar retirees (can you say UNIONS, UAW, electrical and communications workers' unions) so they wouldn't lose 30-70% of their benefits. GM did not agree to "top up" the pensions for 22,000 white collar Delphi retirees. Therein lies the problem.

Faster than you can say "Grand Theft Auto," those white collar workers lost 30-70% of their pension, 100% of their health care coverage and 100% of their life insurance.

At the same time GM was slicing and dicing benefits for white collar workers, GM retained 100% of its union pension obligations. To keep the union pensions and benefits in tact GM contributed then and will continue to contribute monthly "top-ups" that are funded by TARP money.

Did you get that? WE ARE GUARANTEEING THAT UNION WORKERS INVOLVED WITH GM WILL GET 100% OF THEIR PENSIONS, HEALTH CARE AND LIFE INSURANCE BENEFITS, WHILE WHITE COLLAR WORKERS GET NOTHING, AT THE SAME TIME THE U.S. IS SLIPPING QUICKLY INTO A FINANCIAL AND ECONOMIC PIT-OF-NO-RETURN.

The big question now is whether Obama Administration officials and Obama himself "pressured the New GM to top-up" the Delphi retiree union pension plans and whether "political considerations played a role in favoring hourly over salaried retirees."

And that is why an investigation has been started by the Treasury Department.

What do you think the answer to that important question will be? Remember, it's Obama's Treasury Department doing the investigating. Anyone have any faith that they will get it right?

TAX TSUNAMI #4, SURPRISE, GET OUT YOUR CHECKBOOK!

TAX TSUNAMI #4, if you don't read my Tsunami 1-3 blogs, be sure you read this one. It's the worst yet because it will hit almost everyone.

Now, your employer paid health care will be reported as INCOME on your W-2's. I'll bet that all of you who supported Obama and were in favor of his takeover of health care will be astonished to hear about this little SURPRISE. Yes, buried in the "new and improved" Obamacare is this little known fact.

Starting in 2011 (next year, Folks, coming soon), your W-2 wage/tax form sent to you by your employer will be increased to include the value of whatever health insurance benefit you are given by your company. It does not matter if that's a private company or a government body. EVERYONE will get this little surprise.

If you're retired? If you're raising a family? If you're married or single?
So What!! Your gross will go up by the dollar amount of insurance you get from your employer.

All of us will be required to pay taxes on a very large sum of money that we have never seen.

If you want to know how this will affect you just take your tax return from 2009, add on $10,000 to $20,000 or whatever dollar amount your employer pays for you, and see what this additional gross does to your tax debt. That's what you will pay in taxes next year.

For many this will also put you into a new higher tax bracket so the situation is even worse that it appears.

Now we know how the government is going to buy insurance for the 15% of Americans who don't currently have it. They are doing it on the backs of every tax payer who has employer paid insurance.

This should make all of us scream and shout at anyone in Washington who voted for the travesty called Obamacare. Before you vote in November make sure you know how your representatives voted.

MERRY CHRISTMAS FROM BARACK AND THE CZARS.