Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts

Thursday, October 6, 2011

DEBUNKING OBAMA’S TAX DEMAGOGERY

A very interesting post from http://www.dickmorris.com/ about the Taxes in the Jobs Bill. This follows this post about Occupy Wall Street.  This follows this previous article about it to encourage American energy independence. This is a key issue to prevent money from going to hostile countries such as Iran  and Venezuela. For more that you can do to get involved click HERE and you can read a very interesting book  HERE!


DEBUNKING OBAMA’S TAX DEMAGOGERY


When President Obama says that the rich don’t pay their share of taxes, he is lying, distorting, and demagoging.




Here are the facts according to the IRS:





• Those making more than $1 million pay 24% of income in taxes

• Those making $200,000 to $300,000 pay 17.5%

• Those making $100,000 to $125,000 pay 9.9%

• Those making $50,000 to $60,000 pay 6.3%

• Those making $20,000 to $30,000 pay 2.5%



And what of millionaires who pay no taxes?



There are 1,470 of them. They represent six-tenths of one percent of all those with million dollar incomes in the U.S. If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent!



Overall, the IRS reports that the revenues from the income tax are sharply skewed toward taxes on the rich:



• The top 1% pays 39%

• The top 5% pays 60%

• The top 10% pays 72%

• The bottom half pays 3%



So who does Obama think he is kidding?

Wednesday, April 21, 2010

All the President's Goldman Sachs Men

A very interesting post from www.VDare.com as an analysis of the Goldman Sachs saga.This follows this post about the self-appointed watchdog SPLC and this post which shows that there are 30,000 openly illegal immigrants in the border town of El Paso across from the recent Juarez shooting. For more interesting stories like this click here to follow this blog.

All the President's Goldman Sachs Men
By Michelle Malkin
While President Obama assails the culture of greed and recklessness practiced by the men of Goldman Sachs, his administration is infested with them. The White House can no more disown Government Sachs than Da Boss-in-chief can disown Chicago politics.
Obama is headed to Wall Street on Thursday to demand "financial regulatory reform"—just as the U.S. Securities and Exchange Commission has filed civil suit against Goldman Sachs for mortgage-related fraud.
Question the timing? Darn tootin'. There are no coincidences in the perpetually orchestrated Age of O. Everyone from disgraced former New York Attorney General Eliot Spitzer to analysts at the Brookings Institution and Barclays Capital to the GOP leadership and Rush Limbaugh has noted the reeking political opportunism in the air.
As the New York Post reported Tuesday, the Democratic National Committee immediately bought sponsored Internet ads on Google that direct web surfers who type in "Goldman Sachs SEC" to Obama's fundraising site. "It's time to hold the big banks accountable," the money-grubbing DNC message bellows. But just like his crony capitalist predecessor George W. Bush, Obama has relied on Goldman Sachs and Wall Street power brokers to engineer massive government interventions to "rescue" failing businesses with the tax dollars of ordinary Americans.
While irony-challenged Democratic candidates like mob-linked banker Alexi Giannoulias in Illinois (who hopes to fill Obama's old Senate seat) call on Republicans to return their fat-cat Goldman Sachs donations, the Democrats are silent on the $994,795 in Goldman Sachs campaign cash that Obama bagged. The class-warfare Dems are also mum on all the president's Goldman Sachs men sitting in the catbird's seat:
Goldman Sachs partner Gary Gensler is Obama's Commodity Futures Trading Commission head. He was confirmed despite heated congressional grilling over his role, as Reuters described it, "as a high-level Treasury official in a 2000 law that exempted the $58 trillion credit default swap market from oversight. The financial instruments have been blamed for amplifying global financial turmoil." Gensler said he was sorry—hey, it worked for tax cheat Treasury Secretary Tim Geithner—and was quickly installed to guard the henhouse.
Goldman Sachs kept White House Chief of Staff Rahm Emanuel on a $3,000 monthly retainer while he worked as Clinton's chief fundraiser, as first reported by Washington Examiner columnist Tim Carney. The financial titans threw in another $50,000 to become the Clinton primary campaign's top funder. Emanuel received nearly $80,000 in cash from Goldman Sachs during his four terms in Congress—investments that have reaped untold rewards, as Emanuel assumed a leading role championing the trillion-dollar TARP banking bailout law.
Former Goldman Sachs lobbyist Mark Patterson serves under Geithner as his top deputy and overseer of TARP bailout—$10 billion of which went to Goldman Sachs. Left-leaning government watchdog Melanie Sloan of the Citizens for Responsibility and Ethics in Washington responded: "It makes it appear that they are saying one thing and doing another." Paul Blumenthal of the Sunlight Foundation noted that, while at Goldman Sachs, Patterson lobbied against executive pay limits that Obama had crusaded for as senator (before, that is, his administration carved out exemptions for AIG). While Patterson agreed to recuse himself on any Goldman Sachs-related issues or related policy concerns, Blumenthal wrote, it "still creates a serious conflict for Geithner, as Treasury is being partly managed by a former Goldman lobbyist. Geithner is also placed in a tough position considering that his chief of staff is limited in the areas in which he can work (supposedly)."
Obama's close hometown crony, campaign finance chief and senior adviser Penny Pritzker was head of Superior Bank of Chicago, a subprime specialist that went bust in 2001, leaving more than 1,400 people stripped of their savings after bank officials falsified profit reports. Pritzker's lawyer at O'Melveny and Myers, Tom Donilon, is now Obama's deputy national security adviser. He earned just shy of $4 million representing her and other high-profile meltdown clients including Goldman Sachs.
White House National Economic Council head Larry Summers reaped nearly $2.8 million in speaking fees from many of the major financial institutions and government bailout recipients he now polices, including JP Morgan Chase, Citigroup, Lehman Brothers and Goldman Sachs. A single speech to Goldman Sachs in April 2008 brought in $135,000. Summers has prior experience negotiating government-sponsored bailouts that benefit private concerns. In 1995, he spearheaded a $40 billion Mexican peso bailout that bypassed Congress. Summers personally leaned on the International Monetary Fund to provide nearly $18 billion for the package. Summers' boss, then Secretary of the Treasury Robert Rubin, was former co-chairman of Wall Street giant Goldman Sachs—the Mexican government's investment banking firm of choice.
Rubin continues to mentor another former employee of his with regular visits and chats—Treasury Secretary Geithner, who as head of the New York Federal Reserve pushed bailed-out insurance conglomerate AIG to cover up sweetheart deals for investment banks that benefited, you guessed it, Goldman Sachs.
As Obama harangues Wall Street to clean up its house, all the president's Goldman Sachs men have their feet on the coffee table at his.

Michelle Malkin [email her] is the author of Invasion: How America Still Welcomes Terrorists, Criminals, and Other Foreign Menaces to Our Shores. Click here for Peter Brimelow’s review. Click here for Michelle Malkin's website. Michelle Malkin is also author of Unhinged: Exposing Liberals Gone Wild and the just-released Culture of Corruption: Obama and his Team of Tax Cheats, Crooks & Cronies.

Monday, April 13, 2009

The Bank Crisis and Illegal Aliens

A Hat Tip to Steve Sailer at http://isteve.blogspot.com/ for this article about Bank Bailouts and Comprehensive Immigaration Reform (Amnesty)

Subprime and Illegal Aliens
Of course, we all know that, on October 26, 2001, President Bush signed the USA Patriot Act. However, I would wager to say that almost no one knows that contained in section 326(b) of the USA Patriot Act is a provision that allows US banks to accept Mexican Matricula Consular cards as a valid form of ID for opening bank accounts.

It should be noted that while our President and Congress ordered American banks to recognize these Mexican-issued cards, there is not one Mexican bank which accepts their own government’s Matricula Consular card as a valid form of ID, because the bearer’s identity is basically untraceable.

See hear for the Congressional debate on this when attempts to reform this were defeated in 2004 by a joint effort by financial institutions, immigrants’ rights groups, consumer groups, and many others who worked in coalition to defeat, once again, efforts to limit the acceptance of consular ID cards by banks, credit unions, thrifts, and other financial entities.



The following is a list of U.S. banks (both regional and national) and mortgage insurers which are known to offer home loan programs targeted at illegal aliens:

-Bank of America,
-Citigroup
-Deutsche Bank AG
-Fifth Third Bancorp
-Genworth Financial Inc.
-J.P. Morgan Chase
-Liberty Financial
-Mortgage Guarantee Insurance Corp.
-Plaza Bank
-Wachovia
-Wells Fargo

Read the full article here http://isteve.blogspot.com/2009/04/subprime-and-illegal-aliens.html

Tuesday, March 31, 2009

*Bumped* Review of the book "Liberal Fascism"


This is a book that came out last year that is really worth the read that you can get from your library or bookstore especially in this age of AIG and GM and government influence in business!!


A review from http://www.newsbusters.org/ is below.



Along with racist, the word fascist is one of the most common epithets you hear tossed around. Has the constant repetition of the word made it lose its meaning? Does anyone really know what it means? These are questions that Jonah Goldberg seeks to answer in his #1 best-selling book "Liberal Fascism: The Secret History of the American Left, From Mussolini to the Politics of Meaning."If you haven't picked up a copy yet, this is one book you need to buy.As part of our tradition of bringing you in-depth interviews with America's political leaders, I took the opportuntity to speak by phone with Goldberg about "Liberal Fascism." Our conversation is quite extensive but well worth the read. Given the length of the interview (which is available in audio format as well as transcript), I've broken it down into two portions: the first in which Goldberg discusses his many leftist critics including his confrontation with comedian Jon Stewart, and the second in which Goldberg discusses conservatism and where he believes it's headed. This is the first installment. Read the transcript below or download an audio copy.

Friday, March 27, 2009

Atlas Shrugged - Why it matters


An interesting article from http://www.bighollywood.com/


by Mike Baron
When I mentioned to friends I was reading Atlas Shrugged their response was uniform: “Oh that. I read it in college but now I have moved on to adult subjects.” These were liberal friends, you understand, and I couldn’t help but wonder why they would want to discourage me from reading a literary classic that is selling better now than at any time in its history. In fact, it has recently moved up to become Amazon’s 37th best-selling novel. Last week it was 44. By the time you read this it will have moved higher.

The reason becomes immediately apparent upon reading. It might have been written yesterday. Rand’s description of a socialist state taken over by “looters,” people who cannot create or produce but who seize power under the rubric of “fairness” is so spot-on accurate of today’s administration it’s scary. At over one thousand pages long, Atlas Shrugged is not a weekend read and made me question whether my fun-loving liberal friends actually read it, or read the Cliff’s Notes version which is also selling at unprecedented levels.

In a fictional United States, three giants of industry struggle with a government of venal bureaucrats, “looters,” Rand calls them, that closely resemble our present administration. The three industrialists are Dagny Taggart, Vice President in Charge of Operations for mighty Taggart Transcontinental, steelmaker Henry Rearden whose Rearden Miracle Metal puts steel to shame, and the Chilean play boy Francisco D’Anconia who inherited the world’s richest copper mines and proceeds to turn them into dust, shocking all who know him and invested in his supposedly rock-solid enterprise.
The reasons D’Anconia liquidates his empire in secret become increasing clear as the new administration strips away individual rights.
These are larger-than-life characters acting out their passion on an international stage. Has there ever been a more dynamic woman literary character than Dagny? There’s a reason Angelina Jolie is eager to play her in the upcoming film. (This will only intensify rumblings that our Most Holy of Hollywood Couples are secret libertarians.)
Dagny meets her match in Henry Rearden whose measure of a man’s worth is what he can produce. When Rearden’s miracle metal puts other steel companies in danger, they band together, start buying off politicians and go to Washington. Rearden is a man of utter rectitude whose word is gold. He hates incompetence more than anything. His men love him and willingly give their all because they know he values their contribution and will reward them accordingly.
It’s an enormous story with an enormous backdrop revealing Rand’s vast knowledge of steel-making and railroads. She slips her objectivist philosophy into the narrative seamlessly by showing — by talking, not so much. Characters make speeches that go on for days, most notably, D’Anconia’s passionate defense of money, any paragraph of which would have served as a synecdoche for the whole thing, and John Galt’s “I Am John Galt” speech which is 20,000 words and literally takes three hours to deliver.
Ayn Rand
Rand anticipated the situation in which we now find ourselves.
Dagny holds a press conference to announce she’s leaving Taggart Transcontinental to build a spur railroad called the John Galt Line:
The reporters who came to the press conference in the office of the John Galt Line were young men who had been trained to think that their job consisted of concealing from the world the nature of its events. It was their daily duty to serve as audience for some public figure who made utterances about the public good, in phrases carefully chosen to convey no meaning… They could not understand the interview now being given to them.
The government comes to see Dagny’s feckless brother Jim, President of Taggart Transcontinental to complain that TT’s superior rails and service are endangering the other railroads.

“Well consider the unions’ side of it,” whines one of Atlas’ interchangeable politicians. “Maybe you can’t afford to give them a raise, but how can they afford to exist when the cost of living has shot sky-high? They’ve got to eat, don’t they? That comes first, railroad or no railroad.’ Mr. Weatherby’s tone had a kind of placid righteousness, as if he were reciting a formula required to convey another meaning, clear to all of them…
“And then consider the public. The rates you’re charging were established at a time when everybody was making money. But the way things are now, the cost of transportation has become a burden nobody can afford. People are screaming about it all over the country.”

So the government forces TT to increase wages to the unions while lowering rates to the customers “in the public interest.”
The delightfully named Stanley Mouch (”Mooch”) serves as First Secretary to the mysterious Mr. Thompson, the head of state.
Mouch had summoned them all to Washington, as his friends and personal advisers, for a private, unofficial conference on the national crisis. But watching him, they were unable to decide whether his manner was overbearing or whining, whether he was threatening them or pleading for their help.
“Fact is,” said Mr. Weatherby primly, in a statistical tone of voice, “that in the twelve month period ending on the first of this year, the rate of business failures has doubled as compared with the preceding twelve month period. Since the first of this year, it has trebled.”
“Be sure they think it’s their own fault,” said Dr. Ferris casually.
“Huh?” said Wesley Mouch, his eyes darting to Ferris.
“Whatever you do, don’t apologize,” said Dr. Ferris. “Make them feel guilty.”
“But it is their own fault,” said Eugene Lawson, turning aggressively to Dr. Ferris. “It’s their lack of social spirit. They refuse to recognize that production is not a private choice, but a public duty. They have no right to fail, no matter what conditions happen to come up. They’ve got to go on producing. It’s a social imperative… There’s no such thing as a persona matter-or a personal life. That’s what we’ve got to force them to learn.”
“Well, if you want to talk practice,” said Fred Kinnan, “then let me tell you that we can’t worry about businessmen at a time like this. What we’ve got to think about is jobs… If you want my advice-ohm, I know you won’t go for it, but it’s just a thought-issue a directive making it compulsory to add, say, one-third more men to every payroll in the country.”

Can’t you just see Rahm Emanuel, Paul Begala, Obama, Pelosi and Axelrod saying these things?
Speaking of Pelosi:
Last week I almost quit. It was over Chick’s Special. Mr. Chick Morrison of Washington, whoever the hell he is, has gone on a speaking tour of the whole country-to speak about the directive to build up peoples’ morale… He demanded a special train for himself and party-a sleeper, a parlor car and a diner with barroom and lounge. The Unification Board gave him permission to travel at a hundred miles an hour-by reason, the ruling said, of this being a non-profit journey. Well so it is. It’s just a journey to talk people into continuing to break their backs at making profits in order to support men who are superior by reason of not making any.

So who is John Galt? He’s one of three pupils of the great moral philosopher Hugh Akston. The other two are D’Anconia and the pirate Ragnar Danneskjold. Galt is the inventor of a new energy source that would revolutionize civilization. But rather than turn it over to the government, he walks away. It is Galt who vows to stop the motor of the world. And he does.
Ragnar is Robin Hood in reverse. “Until men learn that of all human symbols, Robin Hood is the most immoral and the most contemptible, there will be no justice on earth and no way for mankind to survive.” Robin Hood, you see, stole from men who knew how to create wealth and gave it to people who didn’t.
Ragnar tells Rearden:
I cannot compute all the money that has been extorted from you-in hidden taxes, in regulations, in wasted time, in lost effort, in energy spent to overcome artificial obstacles. I cannot compute the sum, but if you wish to see its magnitude-look around you. The extent of the misery now spreading through this once prosperous country is the extent of the injustice which you have suffered.
Dagny picks up a hobo who used to be a factory worker. He tells her what happened:
We voted for that plan at a big meeting, with all of us present, six thousand of us, everybody that worked in the factory. The Starnes heirs made long speeches about it, and it wasn’t too clear, but nobody asked any questions. None of us knew just how the plan would work, but every one of us thought that the next fellow knew it-and because they made it sound like anyone who’d oppose the plan was a child-killer at heart and less than a human being.
The government under Stanley Mouch draws up a bill called Directive 10-289 which, “in the name of the general welfare,” forbids anyone to quit their jobs under penalty of prison terms. All business must remain in operation. If the owners try to retire, the industry will be nationalized.
All patents and copyrights, pertaining to any devices, inventions, formulas, processes and works of any nature whatsoever, shall be turned over to the nation as a patriotic emergency gift by means of Gift Certificates to be signed voluntarily by the owners of all such patents and copyrights.
The government sends polite goons around to collect the certificates. The directive also forbids any new inventions. But the National Science Institute does manage to come up with an original idea of its own: a sonic ray that turns flesh to mush.

The government nationalizes health care:
I quit when medicine was placed under State control, some years ago,” said Dr. Hendricks. “Do you know what it takes to perform a brain operation? Do you know the kinds of skill it demands, and the years of passionate, merciless, excruciating devotion that go to acquire that skill? That was what I would not place at the disposal of men whose sole qualification to rule me was their capacity to spout the fraudulent generalities that got them elected to the privilege of enforcing their wishes at the point of a gun.
I could go on. Rand certainly does. This book might have profited by some serious editing. This was her last work of fiction before devoting herself entirely to laying out her philosophy of objectivism, which holds that there are absolute truths and objective means of measuring them. The very word “objectivist” is anathema to liberals who deal in endless “sophisticated” variations of gray.
The solution Rand offers is for the men and women of industry and business to simply withdraw their skills and energies from the market rather than place them in the service of an evil socialist state. In “Atlas Shrugged” they go to a secret valley in the mountains. In real life, millions of Americans are reevaluating their efforts in light of the Obama administration’s punitive and senseless tax and spend policy. It is a viable option and one which every right-minded American must consider. And by right-minded, I mean Americans who understand the Constitution and the Bill of Rights, to whom the pursuit of happiness is holy but the guarantee of happiness is a cruel joke perpetrated by the present gang of looters in the White House and Congress who couldn’t make a buck if their lives depended on it.

Tuesday, March 24, 2009

***BUMPED***Review of the book "Liberal Fascism"




This is a book that came out last year that is really worth the read that you can get from your library or bookstore!
A review from http://www.newsbusters.org/ is below.
By Matthew Sheffield
Along with racist, the word fascist is one of the most common epithets you hear tossed around. Has the constant repetition of the word made it lose its meaning? Does anyone really know what it means? These are questions that Jonah Goldberg seeks to answer in his #1 best-selling book "Liberal Fascism: The Secret History of the American Left, From Mussolini to the Politics of Meaning."If you haven't picked up a copy yet, this is one book you need to buy.As part of our tradition of bringing you in-depth interviews with America's political leaders, I took the opportuntity to speak by phone with Goldberg about "Liberal Fascism." Our conversation is quite extensive but well worth the read. Given the length of the interview (which is available in audio format as well as transcript), I've broken it down into two portions: the first in which Goldberg discusses his many leftist critics including his confrontation with comedian Jon Stewart, and the second in which Goldberg discusses conservatism and where he believes it's headed. This is the first installment. Read the transcript below or download an audio copy.