Friday, July 31. 2009
 Cash For Clunkers fails within 1 week
The Cash for Clunkers program sponsored by the Federal Government as part of the Stimulus has been suspended......within a week.
The government couldn't run a billion dollar program for more than one week without screwing it up. Tell me again why we should turn over 1/5 of our economy over to the feds in the form of government run control healthcare? SOURCE: http://abcnews.go.com/GMA/story?id=8218841&page=1
Monday, July 6. 2009
 Social Security Tax - Sinking The FED It may not surprise you to learn that the largest percentage owner of US debt is the United States Government itself. Perhaps this doesn’t make immediate sense to some readers, but it is a fact. The debt holdings are held in accounts for the various trust funds the US manages for its future obligations - the largest of which are set aside for Social Security and Medicare. These trust funds are lumped together and referred to as “Intragovernmental Holdings”. The only ‘assets’ held by these ‘trust funds’, however, are special-issue Treasury Bonds. Why? Because the US Treasury takes the Social Security and Medicare payroll taxes and uses these funds to pay for anything from aircraft carriers to education to welfare.
To cover this drawdown, special-issue Treasury Bonds are deposited into the trust funds for Social Security and Medicare as IOU’s. When the government issues a bond to one of its own accounts, it hasn't established a claim against another entity or person. It is simply creating a form of IOU from one of its accounts to another. Put simply, there are no real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury, that, when redeemed, will have to be financed by raising taxes, increasing borrowing or reducing expenditures. For all intents and purposes, Social Security and Medicare receipts are essentially considered to be another source of government tax revenue that can be spent each year.
SOURCE: http://www.sprott.com/Docs/MarketsataGlance/June_2009.pdf
Friday, June 26. 2009
 Cap and Trade tax explained Nancy Pelosi has repeatedly stated that Cap and Trade will be a priority for the 111th Congress. Embraced some years ago in Europe and a few other countries, cap and trade creates an artificial market for various industries to buy, sell, and trade allowances that permit a certain amount of carbon output. It has long been on the wish list for American liberals and extremist environmentalists. In fact, in the 2010 White House budget, President Barack Obama calls for a sweeping cap and trade program that would raise $646 billion in new revenues to pay for his social programs. Here are the Top 10 proven facts about it…
1. It will raise the cost to produce energy! In turn everything related to using energy will increase. More than household costs but manufacturing & farming clear to hospitals. Its a multiplier, people!! (est $5000yr per family)
2. It doesn’t help the environment as already proven by world scientists.
3. It doesn’t work as they have been doing it in Europe for many years
4. It will cost Americans jobs. An analysis conducted by Charles River Associates in 2007 estimated anywhere from 1.2 million to 2.3 million jobs would be lost.
5. It is in effect a hidden regressive tax. Obama promised no taxes on the lower classes. This tax effects EVERYONE!
6. It sets a dangerous precedent of government control over private industry.
7. It prevents market forces from working for the environment. Recently, major energy companies such as ExxonMobil and Shell have invested hundreds of millions of dollars in technologies that capture and store carbon as well as lower carbon alternative energy sources.
8. It threatens to put the U.S. at a competitive disadvantage with other countries in production costs of goods.
9. It opens the door to massive fraud and corruption. In a recent article by the British-based Guardian newspaper they report: “Britain’s biggest polluting companies are abusing a European emissions trading scheme (ETS) designed to tackle global warming by cashing in their carbon credits in order to bolster ailing balance sheets.”
10. It threatens to bust the federal budget at a time when the United States can scarcely afford it.Write your State Reps TODAY! SOURCE / SOURCE
Continue reading "Cap and Trade tax explained"
Tuesday, March 10. 2009
1 HUGE example as to why the government should not take over the banks, automotive and any other capitolistic industry. Q: Which Political Party took Social Security from the independent "Trust" fund and put it into the General fund so that Congress could spend it? A: It was Lyndon Johnson and the Democratically-controlled House and Senate. Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding? A: The Democratic Party. Q:Which Political Party started taxing Social Security annuities? A: The Democratic Party. Q: Which political party increased the taxes on Social Security annuities? A: The Democratic Party, with Al Gore casting the "tie-breaking" deciding vote as President of the Senate, while he was Vice President of the U.S. Q: Which Political Party decided to start giving annuity payments to immigrants? A: That's right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive SSI Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it! Want to see another 20 or so facts on this Social program? go here: http://www.snopes.com/politics/socialsecurity/changes.asp
Friday, January 23. 2009
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it." -Webmaster
Wednesday, December 24. 2008
Many years ago in Seattle, two wonderful neighbors, Elliott and Patty Roosevelt came to my home to swim on a regular basis. They were a great couple full of laughter and stories that today I continue to marvel at. Both are now deceased, but their stories remain. During the years of our friendship we had many, many discussions about Elliott's parents (President Franklin D. and Eleanor Roosevelt) and how his father and mother never intended for the Social Security and Welfare programs to turn out the way they are today. Elliott used to say that if his parents returned to earth and saw what the politicians had done to their programs they would have burned all of them in hell.
Here is the Roosevelt's story regarding the Social Security Program. I Hope you will read this and think about it.
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Franklin Roosevelt, a Democrat, introduced the Social
Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary,
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the Program,
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year,
4.) That the money the participants put into the independent 'Trust Fund' rather than into the General operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program.
5.) That the annuity payments to the retirees would never be taxed as income.
'THE ONLY THING NEEDED FOR EVIL TO TRIUMPH IS FOR GOOD MEN TO DO NOTHING'
EDMUND BURKE ..
Continue reading "Best kept secrets about Social Security"
Tuesday, December 2. 2008
The cost of the federal bailout of the financial sector continues to climb, now reaching $8.5 trillion, as the government last week announced another trillion-dollar tranche of funding for failing institutions. The total federal refinancing of the banking industry is equal to half of the entire economic output of the U.S. economy for this year. New rescue projects announced by Treasury Secretary Hank Paulson and the rest of the Bush administration during Thanksgiving week included: $600 billion to lower mortgage rates, $200 billion to spark consumer loans and another $300 billion to provide ballast for ailing Citigroup. Ominously, analysts are warning that the country's next financial crisis may indeed come from having to deal with the overwhelming cost of the mounting debt. The total extent of the federal debt haven't even been imagined, yet. President-elect Barack Obama and his economic team — Christina Romer, Larry Summers and Tim Geithner — are poised to enact an economic stimulus program next year of up to $700 billion. The stimulus spending will most likely cause Obama to scale back ambitious plans to revamp health care financing, press reports indicate.
Sen John Kerry (D-Mass.), incoming chairman of the foreign relations committee, is telling Europeans at an environmental summit in Poznan, Poland this week that Obama is also going to have to retreat on his plans for a "green economy" because of the U.S. economic situation. "We have to figure out what is achievable, given our economic realities," Kerry said, according to a report in the U.K. newspaper, The Guardian.
Monday, December 1, 2008 12:13 PM
By: Gene J. Koprowski
Tuesday, November 18. 2008
WASHINGTON DC- Barack Obama campaigned on bringing "change" to Washington, and he's about to get a lot of it - $350 billion.
The Bush administration has told lawmakers it won't spend half of the $700 billion rescue plan that Congress passed to stem the financial meltdown.
That gives the incoming Obama administration a $350 billion piggy bank that can be used to try to fix the economy.
The unexpected cash windfall could be tapped by the Democrats to help the big automakers after prospects for passage of a $25 billion rescue plan by Congress dimmed yesterday.
The Bush administration used its first batch of rescue funds to boost lending institutions with bad mortgages on the books.
It has since lent cash to troubled banks, and recently expanded the definition of qualified institutions to include credit-card giant American Express.
When Obama takes office on Jan. 20, his team will get the chance to apply its own definitions of what sorts of companies are qualified to get cash a infusion from the kitty under a statute that critics slammed for being overly broad.
Continue reading "Obamas $350 Billion Piggy Bank"
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