tax cuts

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Open Thread - Lord of The Dance

  • Posted on: 20 December 2010
  • By: Connecticut Man1

Because, I am certain they will tell you, it'll be good for you if they slash Social Security and eliminate Medicare and Medicaid::

House GOP: Cut Gov't Spending By 20 Percent Despite Economic Impact

tpmdc.talkingpointsmemo.com

The GOP plan to cut federal spending to 2008 levels appeals to the conservative base, because it predates big spending items like the stimulus bill. But it would constitute a severe reduction in spending, below levels proposed by President Obama and even Senate Minority Leader Mitch McConnell.

What? You think they will take that budget axe the military budgets or to Halliburtons and Blackwater/Xe's welfare checks?

This should not even be a debate:

Barbara Lee, Bobby Scott Introduce Bill For 99ers

www.huffingtonpost.com

WASHINGTON — Democratic Reps. Barbara Lee (Calif.) and Bobby Scott (Va.) introduced legislation Friday that would provide additional assistance to "99ers" — people who've exhausted 99 weeks of unemployment benefits without finding work.

But you know that there are idiots, refer to that first open thread story, that would love nothing more than kicking these people to support certain other people's interests:

End Corporate Domination: More Than Advocacy We Must Resist

www.commondreams.org

On December 16, 2009, I stood in the atrium of the Hart Senate Office Building with about a dozen single payer supporters. We were holding signs and standing vigil on the eve of the first time in U.S. history that a single payer bill would make it to the floor of either body in Congress.

Below the Open Thread fold is a Not Safe For Work Youtube featuring an "every man" informed type responding to questions about the bailouts for the rich. And maybe some dancing...

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Senator Bernie Sanders on the War against the Homeland

  • Posted on: 6 December 2010
  • By: deltadoc

Senator Bernie Sanders is not beholden to either half of Party, Inc. and actually can be trusted to speak for people, not profits.

At least, I'm certain he speaks for mainstream America here:

 
Aren't you?

 

 

Open Thread - Landmark Ruling Last Week that YOU may not have heard about and then some...

  • Posted on: 18 August 2010
  • By: Connecticut Man1

Zach Carter takes note of recent ruling in a case that shows pretty clearly how the banks, not just Wells Fargo BUT all banks, purposely rigged their overdraft system against you:

Wells Fargo Overdraft Scam Makes Elizabeth Warren More Important Than Ever

A landmark court ruling on Wells Fargo's outrageous overdraft scam has the potential to return hundreds of millions of dollars in stolen funds to consumers all over the country. But like many of the banking scandals from the past decade, there's more to the story than simple bank predation. When banks devised this new program to swindle their own customers, bank regulators did not merely look the other way, they actively encouraged the behavior by writing a new rule approving a practice that courts now believe to be unfair and deceptive. The Wells Fargo case should be viewed as a clear example of why Elizabeth Warren ought to head the new Consumer Financial Protection Bureau.

The overdraft scam that Judge William Alsup slapped down yesterday is not unique to Wells Fargo-- every big bank in the country has been doing it for years, and if it's never happened to you, it's probably happened to your friends or family. Banks make a lot of money from overdraft fees-- $38 billion last year, compared to a combined industry profit of just $12.5 billion. They don't make that money by accident. Internal company emails and memos from the Wells Fargo case show bankers spending a lot of time figuring out how to maximize the number of overdraft charges they can hit their checking customers with.

One way is by changing the order in which your transactions are processed. Most people think that their checks and debit card purchases are processed in the order that they make them. But that's not how banks actually do it. Instead, they wait for you to make several purchases, and then process the most expensive purchases first. This method pushes a customer's balance to zero faster than the honest way that actually reflects buying habits. And the sooner your balance goes to zero, the more overdraft fees the bank can hit you with.

It is institutional fraud, across the board and directed at the average consumer, that had elevated the issue of the new consumer protection agency to a grassroots level to begin with.

And it is not just the bank customers that are institutionally screwed over by the financial system. Again from Mr. Carter, even the small players on Wall Street are habitutally hammered to the benefit of the American elite that continues to escape punishment for their crimes:

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Open Thread - The Economic Fun Fair

  • Posted on: 30 July 2010
  • By: Connecticut Man1

From political animation editorialist supreme Mark Fiore we get Jack visiting "The Economic Fun Fair":

While Ben Nelson may have been trampled by the Senators that did finally pass Unemployment Insurance extensions, seen any open thread worthy signs of other issues getting tackled anytime soon? Drop'em in comments...

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It's DeFault of The Rich

  • Posted on: 9 July 2010
  • By: Connecticut Man1

The kings and queens of the real world monopoly (and 10 digit welfare checks) are walking away from their million dollar homes now. Via Balloon Juice:

I can’t wait to hear how Republicans try to pin this shit on black people and Fannie Mae and Barney Frank.

A little bit from the article - "Biggest Defaulters on Mortgages Are the Rich" - below the fold.

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How Can Tax Cuts Make This Pile Of Money Trickle Down?

  • Posted on: 7 July 2010
  • By: Connecticut Man1

They've got their massive piece of the pie... And they want more.

Corporations Sitting On $1.84 Trillion Cash

From last month: U.S. Firms Build Up Record Cash Piles,

U.S. companies are holding more cash in the bank than at any point on record, underscoring persistent worries about financial markets and about the sustainability of the economic recovery.

The Federal Reserve reported Thursday that nonfinancial companies had socked away $1.84 trillion in cash and other liquid assets as of the end of March, up 26% from a year earlier and the largest-ever increase in records going back to 1952.

The problem is reduced demand. Continuing unemployment means that the economy is not producing demand, so businesses are not willing to risk investing in meeting demand, which means they are not hiring, which means unemployment continues.

Seriously? They are already hoarding vast sums of money - probably trying to figure out how to offshore it with our jobs too - and the GOP plan, the highly desired plan of corporations and the their rich owners, is giving them more with tax cuts for the listless elites. That will just be a bigger welfare check than the ones we already floated Wall Street for doing absolutely nothing to fix the disaster they created.

Meanwhile, the screech of the typical village idiot corporate shills and deficit peacocks is getting shrill:

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BRILLIANT! Pelosi forces vote on Tax Cuts for Job Outsourcers, Idiots fall for it hook line & sinker

  • Posted on: 2 June 2010
  • By: MinistryOfTruth

Speaker Pelosi pulled a brilliant move at the end of the last weeks legislative session.

House Democrats are home for a long Memorial Day break with a gift-wrapped wedge issue delivered just in time for district campaigning. One of their final actions before adjourning late Friday was passing a measure that would strip tax breaks for companies that ship jobs overseas by a 215-204 vote.

talkingpointsmemo.com

The Grand Outsourcing Party. Expect Dems to run on this come election time.

More brilliance below the fold.