The Joe Blow Report 2

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Archive for the ‘Taxes’ Category

Debt Crisis Flimflam

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Day before yesterday, actually Friday, July 22, 2011, I started out listening to Democracy Now. Halfway through the program I listened to an interview with economist Michael Hudson, Pushing Crisis: GOP Cries Wolf on Debt Ceiling in Order to Impose Radical Pro-Rich Agenda.

What caught my attention was this comment by Amy Goodman:

“Meanwhile, more details have emerged about the massive government bailout of the banking industry. On Thursday, the Government Accountability Office issued an audit of the Federal Reserve’s emergency lending programs. It revealed the Fed provided more than $16 trillion in secret loans to bail out American and foreign banks and businesses.”

This is money the Federal Reserve simply printed then used. If you ever wondered why the dollar doesn’t buy as much as it used to, well – there’s your answer. The more they print the less valuable the dollar becomes. Remember, this is printed money on top of all the other bailout money and wars.

Read the complete interview. He details exactly what is going on with the current “crisis,” the so-called debt war between President Obama and the Republicans – what Obama is REALLY doing and what America and the World can expect. Here’s a taste:

“What’s happening across the world is an attempt by the financial sector to really make its move and say this is their opportunity for a power grab. And they’re creating this artificial crisis as an opportunity to carve up the public domain and to give themselves enough money. They’re taking the money and running, because they know that unemployment is going up. The game is over. They know that. And the only question is, how much can they take, how fast?”

Later that morning is picked up the Times-Standard newspaper and read, this masterful piece of invective written by eight brilliant and undaunted people: Progress or protest? We need to work together to move forward.” Their solution for “working together” will take your breath away. The implementation of the flimflam betrayal Michael Hudson explains is demonstrated locally by these eight individual and their class warfare. Classic sheep in wolves clothing.

To conclude, that afternoon I listened to Barack Obama as he spoke to the White House Press Core as he tried to explain why the talks on the debt crisis broke down. Of course, he accepted NO responsibility for what happened. Later, I listened to Speaker of the House John Boehner explain his conduct. He, however, said something rather interesting. He said Obama would say one thing to the public, but when he was in direct talks did something altogether different, putting Boehner in a difficult position. Since under those conditions he couldn’t negotiate in good-faith he had to accept the reality and act accordingly. Based upon my own life’s experience, I’d say John Boehner is the one most likely speaking the truth.

Amazingly, what Michael Hudson talked about earlier that morning was playing out right before my eyes. There’s a crisis alright, but not the one they want everybody to believe we’re facing.

If Michael Hudson has it right, and I’m inclined to believe he does, then this flimflam is about the Rich Elite’s finalizing their looting. They’re really only just fighting over the scraps.
[Source]

–Joe

Ron Paul on the Deficit

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Anyone interested in another point of view might find this article of interest:

By Pete Kasperowicz – 07/19/11 11:20 AM ET

Rep. Ron Paul (R-Texas) on Tuesday predicted that the U.S. would default on its debt.

“When a country is indebted to the degree that we’re indebted, the country always defaults,” the 2012 GOP presidential candidate said on the House floor. “We will default because the debt is unsustainable.”

Paul predicted that the U.S. government would dodge the best solution, which is to impose real spending cuts.

“The reason we don’t cut spending is, one side loves entitlements and one side loves war,” he said.

But he warned against the temptation of simply continuing to send out government checks backed with more borrowed money. He said choosing this course would mean default would come in the form of significant inflation and a further erosion of the dollar.

“If we don’t understand this, this default will not be because we don’t send out the checks,” Paul said. “We will send out the checks. It will be defaulted on because people will get their money back, or they will get their Social Security checks, and it won’t buy anything.”

He warned this is a “much, much worse” solution.

Paul was one of several Republicans who spoke Tuesday morning on the House floor in anticipation of the GOP’s “Cut, Cap and Balance”
bill. Rep. Wally Herger (R-Calif.) was one who spoke in favor of the bill, and said higher spending under the Obama administration was a proven failure.

“The tragic reality is that the president’s big spending policies only made things worse,” Herger said. “Now, with the national debt at crisis levels, he is standing in the way of common sense solutions, offering only lectures, not leadership.

“As a matter of conscience, this Congress cannot support allowing President Obama to continue to steer America’s debt past a point of no return,” he added.

Rep. Virginia Foxx (R-N.C.) said Democrats have no plan for handling the debt crisis, citing the Senate’s rejection earlier this year of the Obama administration’s proposed 2012 budget.

“There is no leadership on the part of the Democrats,” she said.

Rep. Mike Quigley (Ill.) was one of the few Democrats who spoke on the debt ceiling Tuesday morning. He argued that Republicans were using the myth of former President Reagan to justify efforts to tie the debt-ceiling increase to spending cuts.

Quigley said that if Reagan could see the current debate, “he’d see his most dedicated followers using his name as justification for saying no to honoring our debts. He’d see his legacy used to play chicken with the world’s greatest economic engine.”

The contents of this site are © 2011 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.

–Joe

Written by Joe Blow

July 20, 2011 at 9:32 pm

Beginning of the End for Social Security

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The following is an excerpt from an interview on Democracy Now Thursday, December 16, 2010 with Representative Rush Holt. Here he explains in simple understandable language how the enemies of the American people finally win the war.

Here’s the link for the complete interview:

REP. RUSH HOLT: But you heard the President say, well, in a compromise, we have to sacrifice some things we care about. I’m not willing to sacrifice Social Security. And I’m concerned that this does real damage, does violence, to the rationale for Social Security. Apart from what it does to the financing of Social Security, which can be made up in future years, it does, I think, irreparable damage to the very idea of Social Security. It puts Social Security on the table as a bargaining chip along with the alternative minimum tax, the debate over whether the Bush tax cuts should end at $250,000 or a million dollars income, and with business expensing and estate tax rate. In other words, it’s just a bargaining chip, it’s just another item. And, you know, ever since 1935, Social Security has had its enemies, but it has withstood those enemies because of really the ingenious, the shrewd rationale that FDR assigned to Social Security. And this undermines that. It makes Social Security just another program, not—it does away with the idea that Treasury funds, that general funds, are not fed in to Social Security to support it. And I think a year or two in the future, the political support for Social Security will just unravel.

QUESTION: […] Obviously, every working American will next year see, for one year, their pay—this is a sizable reduction in what they have to pay out in Social Security taxes. So then, at the end of next year, as you’re beginning a presidential election year, the Obama administration will be forced to having to increase those taxes again or may end up bending to Republican pressures to begin creating private retirement accounts as part of that two percent return, and something that Obama’s own economic adviser, Austan Goolsbee, has often advocated. Do you have any concerns about that? What will happen at the end of this one-year period?

REP. RUSH HOLT: Well, in January 2012, workers—under this proposal, under this scheme, workers would see their take-home pay go down. I’m not sure who wants to be responsible for that. So, this is called a one-year change. And any lost revenue will be replenished from the general fund, and then the tax rates would be restored to the full 6.2 percent in 2012. I’m not so sure. I mean, it—but my point is, even if you lose that revenue for one, two or three years, it could be made up. But the damage done to the idea, the political underpinning of Social Security, will be, I’m afraid, irreparable.

By the time of this posting tax bill will already be signed – the beginning of the end. On Yahoo News: Bill preventing big tax hikes heads to Obama Fri.

[UPDATE]

Obama Signs (Republican) Tax Deal, Hails Bipartisan Effort to Grow Jobs

and calls it “COMPROMISE.” I wonder how he defines surrender.

–Joe

Lord Love a Republican

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[UPDATE Below] [UPDATE I :: We Can’t Afford War] [UPDATE II]

War on the Little People

When you’ve lost you job because of the Banks, Wall Street, Obama economy fix and you can’t collect any unemployment benefits and end up homeless and hungry look to your friends, relatives and neighbors that are Republican.

Senate Republicans Block Unemployment Benefits Bill

Senate Republicans have blocked another effort to extend unemployment benefits to millions of jobless workers. Emergency jobless benefits, which provide up to ninety-nine weeks of income support, expired June 2. More than 1.2 million people have already had their checks cut off, but that total is expected soon to rise to two million people.

This is from FireDogLake:

Republicans block unemployment bill

Associated Press:

Stymied by GOP, Democrats at loss on jobs agenda

These Republicans can spend trillions of borrowed dollars on made-up wars, but can’t do anything for the Americans forced to pay for their crass beliefs and looting. [Source]

[UPDATE :: Friday, June 25, 2010]

War on the little people started when? In the process of finding this picture I came across this blog article on Big Dan’s Big Blog posted March 2, 2010, that I think is still appropriate today.

[UPDATE II :: Tuesday, July 20, 2010]

FINALLY!  Senate Democrats set to leap hurdle on extending jobless benefits
Democrats are expected to overcome Republican opposition to the package of new aid for unemployed Americans.

–Joe

Looting American Cities

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The following is a segment I watched on Democracy Now this morning. As a home and property owner in Eureka, this situation shook me out of some of my complacency regarding our local county and city representatives activities. The people in the city of Birmingham in Jefferson County Alabama were sued by the EPA for a faulty sewer system and were forced to build a new one at a cost of $250 million. In the end, after the looting, the local taxpayers were left owing 5 billion; that BILLION with a “B.”

And we think the government works for us? What most fail to realize is that these exceptional elitist, Democrats, Republicans, Independents – you name them – with their phony wars, unrestrained banking, Wall Street gluttony and successive bailouts to name only some of the corruption along with successive governments betrayals and complicit behavior and deregulating laws, have destroy this country.


 

“Looting Main Street”–Matt Taibbi on How the Nation’s Biggest Banks Are Ripping Off American Cities with Predatory Deals

Poker 

In a new article in Rolling Stone magazine, journalist Matt Taibbi takes an in-depth look at the experience of one small Alabama town and its disastrous dealings with Wall Street. Taibbi writes, “The destruction of Jefferson County reveals the basic battle plan of these modern barbarians, the way that banks like JP Morgan and Goldman Sachs have systematically set out to pillage towns and cities from Pittsburgh to Athens.” 

Read the rest of this debacle here. 

–Joe 

Power To The People — RIGHT!

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Problem Oriented Policing

The following Editorial, however well intentioned, is really an condemnatory indictment of the Eureka Police Department. The fact that the EPD had to institute the Problem Oriented Policing program speaks for itself. It’s purpose, apparently defined below, was to get the people calling on the police to respond. Apparently the general public “did NOT have a sense of buy-in.” They’d call in and get the run-around. My personal experience was, not only did I get the run-around, their failure to do their job made the matter worse. That would make me a prime candidate for some new empowering police program, right?

 “This is effective policing”? If we didn’t have “effective policing” BEFORE, why do we need a new “empowering program” now when all the police need to do is the job they are paid to do?

So, what’s the real message this program is sending? Unless the police get the powers they want, we the people, the one’s that they are here to supposedly protect and serve, divest us of everything, including our tax dollars, until they get their way. You can read how this all works here.

While the POP program in and of itself may be a useful tool and even an asset to the community, it’s very existance, as justified in the following Editorial, definitely “sends” the wrong message.


This is the Sunday, January 17, 2010 Times-Standard Editorial copied here verbatim:

Empowering the people

The Times-Standard
Posted: 01/17/2010 01:30:15 AM PST

Law enforcement in this and any community works best when residents have a sense of buy-in. If Eurekans feel like their concerns and observations are noted by police, and that action is taken when crimes are committed and reported, then they are much more likely to take umbrage at crimes committed on their doorstep, and report them.

In two recent cases at least, the Eureka Police Department’s Problem Oriented Policing program has yielded investigations and arrests. These were allegedly problem properties that had attracted the attention of neighbors, and their efforts to see these problems addressed led to concrete action on the part of law enforcement officials.

This success only serves to reinforce the program — as more and more residents realize that their calls actually result in action and enforcement, you can bet more and more calls will be made. This is effective policing. [Emphasis mine.]

Neither of the two recent busts led to major arrests. But that is not the point. The program is working quickly to give Eureka residents confidence that its police department is working to address the problems that affect their lives.

At the same time, it’s sending signals to criminals within city limits that their actions will have consequences. Their activity will not be tolerated, and their neighbors, for so long simply passive witnesses to crime that went on all around them, are suddenly empowered. When people are invested, and feel like they can make a difference by policing their own communities, that’s when positive change can really occur.

A good explanation of Problem Oriented Policing — POP — is here.

–Joe

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