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Gary Edwards

The Fiscal Cliff And The Keyser Soze Option | RedState - 1 views

www.redstate.com/...iff-and-the-keyser-soze-option

Obammunism fiscal-cliff Sequestration

shared by Gary Edwards on 10 Nov 12 - No Cached
  • Gary Edwards on 10 Nov 12
     
    Excellent analogy.  My take on the fiscal cliff is that we have an agreement in place, signed off on by Obama, the Democrats and the Republicans.  Let's hold to it.  Hold the line.  And under no circumstances raise the debt limit.  Bring home the troops.  Make the spending cuts in the sequestration agreement.  Replace that idiot Speaker of the House Boehner with Representative Darryl Isa.  Freeze Obama with his own agreement, and then dig our way out of this by stopping the socialist spending spree. "In the movie Usual Suspects, Keyser Soze is confronted with the fact that his wife and children would be an impediment in dealing with his business competitors. In a way the House GOP finds itself in the same position as Keyser Soze. Our home has been invaded. Our family despoiled. And we are facing a never ending series of ever increasing demands from the criminals who have abused us. Sometimes the only way out of a dilemma is by clearing the table and starting again from scratch. At midnight on December 21, 2012 the United States will be faced with what is being called the "fiscal cliff." In short this cliff is composed of several parts. 1. The payroll tax reduction passed in 2010 will end. 2. The temporary tax rates passed under President Bush will lapse. 3. Obamacare's taxes will come due. 4. The Alternative Minimum Tax will expand to many more taxpayers. 5. Extended unemployment benefits will expire. 6. Some $78 billion in federal spending will be sequestered. 7. Medicare "doc fix" will expire. There are several sets of sacred cattle here. The GOP is primarily interested in protecting the tax cuts and Defense spending. The Democrats are primarily interested in preserving the social spending and free stuff for their base. This time around the Democrats, in their never ending paean to class warfare, are insisting that the Bush Tax Rates for the wealthiest Americans be allowed to expire. The GOP should not negotiate on this. This will put the GOP
Paul Merrell

Paul Craig Roberts: Our Collapsing Economy and Currency - 0 views

www.informationclearinghouse.info/article33198.htm

war & peace economy currency financial-collapse

shared by Paul Merrell on 04 Dec 12 - No Cached
  • Is the “fiscal cliff” real or just another hoax? The answer is that the fiscal cliff is real, but it is a result, not a cause. The hoax is the way the fiscal cliff is being used. The fiscal cliff is the result of the inability to close the federal budget deficit. The budget deficit cannot be closed because large numbers of US middle class jobs and the GDP and tax base associated with them have been moved offshore, thus reducing federal revenues. The fiscal cliff cannot be closed because of the unfunded liabilities of eleven years of US-initiated wars against a half dozen Muslim countries--wars that have benefitted only the profits of the military/security complex and the territorial ambitions of Israel. The budget deficit cannot be closed, because economic policy is focused only on saving banks that wrongful financial deregulation allowed to speculate, to merge, and to become too big to fail, thus requiring public subsidies that vastly dwarf the totality of US welfare spending.
  • The real crisis facing the US is the impending collapse of the US dollar’s foreign exchange value. The US dollar’s value in relation to silver and gold has already collapsed. In the past ten years, gold’s price in US dollars has increased from $250 per ounce to $1,750 per ounce, an increase of $1,500. Silver’s price has risen from $4 per ounce to $34 per ounce. These price rises are not due to a sudden scarcity of gold and silver, but to a flight from the dollar into the two forms of historical money that cannot be created with the printing press.
  • What can be done? For a number of years I have pointed out that the problem is the loss of US employment, consumer income, GDP, and tax base to offshoring. The solution is to reverse the outward flow of jobs and to bring them back to the US. This can be done, as Ralph Gomory has made clear, by taxing corporations according to where they add value to their product. If the value is added abroad, corporations would have a high tax rate. If they add value domestically with US labor, they would face a low tax rate. The difference in tax rates can be calculated to offset the benefit of the lower cost of foreign labor. As all offshored production that is brought to the US to be marketed to Americans counts as imports, relocating the production in the US would decrease the trade deficit, thus strengthening belief in the dollar. The increase in US consumer incomes would raise tax revenues, thus lowering the budget deficit. It is a win-win solution.
  • ...2 more annotations...
  • The second part to the solution is to end the expensive unfunded wars that have ruined the federal budget for the past 11 years as well as future budgets due to the cost of veterans’ hospital care and benefits. According to ABC World News, “In the decade since the Sept. 11, 2001 terrorist attacks on the World Trade Center, 2,333,972 American military personnel have been deployed to Iraq, Afghanistan or both, as of Aug. 30, 2011 [more than a year ago].” These 2.3 million veterans have rights to various unfunded benefits including life-long health care. Already, according to ABC, 711,986 have used Veterans Administration health care between fiscal year 2002 and the third-quarter of fiscal year 2011. http://abcnews.go.com/Politics/us-veterans-numbers/story?id=14928136#1 The Republicans are determined to continue the gratuitous wars and to make the 99 percent pay for the neoconservatives’ Wars of Hegemony while protecting the 1 percent from tax increases. The Democrats are little different.
  • No one in the White House and no more than one dozen members of the 535 member US Congress represents the American people. This is the reason that despite obvious remedies nothing can be done. America is going to crash big time. And the rest of the world will be thankful. America along with Israel is the world’s most hated country. Don’t expect any foreign bailouts of the failed “superpower.”
Gary Edwards

Lame Duck Congress | Americans for Prosperity - 0 views

americansforprosperity.org/lameduck

fiscal-cliff fiscal-irresponsibility Tax-the-Rich Government-Bailout

shared by Gary Edwards on 27 Nov 12 - No Cached
  • Gary Edwards on 27 Nov 12
     
    Nice graphic depicting the "fiscal cliff" that our country goes over on January 1, 2013.  The looming tax hikes are through the roof, yet, all Obama and big media can talk about is raising taxes even higher.  Does it matter how fast the economy goes over the cliff?  Do we really need Obama's extra push of even higher taxes?  Amazing. The graphic is really good, but Americans for Prosperity also provides two "Take Action Today" options: ........ Concerned about Out-of-Control Spending? ........ Concerned about Congress RAISING TAXES? The trickle-down-government economics that Obama practices now needs a massive BAILOUT.  Just like with the Banksters, it will be the taxpayers who once again are FORCED to bail out Obamagov. Excerpt: "The 112th Congress's lame duck session presents several threats to economic freedom.  From billions in new and higher taxes to Congress going back on its agreement to finally reduce spending, the biggest fiscal issues are all in play right now.  Check out the links below to learn more about what's at stake and how to contact your members of Congress."
Gary Edwards

How to Avoid Blame and Maintain the GOP Brand as the Low-Tax Party | Western Free Press - 0 views

www.westernfreepress.com/...gop-brand-as-the-low-tax-party

ge Federal-Reserve Federal-Reserve-Bankster-Cartel Econ101 David-Leeper Western-Free-Press Libertarian

shared by Gary Edwards on 10 Dec 12 - No Cached
  • Gary Edwards on 10 Dec 12
     
    Lots of comments posted on this page.  Search for "Econ101" and "garylyn" to find my comments.  I have posted here a surprisingly extensive explanation of how i became a libertarian. excerpt: "How's this for a simple GOP strategy to avoid blame for fiscal-cliff tax-rate increases and seize the public relations initiative from an overconfident president? Pass two simple bills in the House.  Bill A extends current tax rates for those with incomes of $250,000 or less.  Bill B extends current tax rates for all the rest.  Keep both bills just that simple - include nothing else in either one.  Both will pass in the House thanks to the Republican majority. As the bills are moving to the Senate, Speaker Boehner holds a press conference and begins with a short address to the American public to promote both bills. First, Boehner points out that Bill A should pass the Senate promptly and be signed by the president.  Reid and Obama have promised as much. Second, the Speaker points out that Bill B will be likely be blocked in the Senate and/or on the president's desk.  Reid and Obama have (virtually) promised to do that too. "
Paul Merrell

Billionaires Warn Higher Taxes Could Prevent Them From Buying Politicians : The New Yorker - 0 views

www.newyorker.com/...m-from-buying-politicians.html

fiscal cliff satire

shared by Paul Merrell on 10 Dec 12 - No Cached
  • Introducing a new wrinkle into the already fraught fiscal cliff showdown, a consortium of billionaires today warned that if their taxes are raised they will no longer have enough money to buy politicians.
Gary Edwards

How to Avoid Blame and Maintain the GOP Brand as the Low-Tax Party | Western Free Press - 0 views

www.westernfreepress.com/...gop-brand-as-the-low-tax-party

fiscal-cliff

shared by Gary Edwards on 06 Dec 12 - No Cached
  • Gary Edwards on 06 Dec 12
     
    I like it!  Great idea ..... excerpt: "Pass two simple bills in the House.  Bill A extends current tax rates for those with incomes of $250,000 or less.  Bill B extends current tax rates for all the rest.  Keep both bills just that simple - include nothing else in either one.  Both will pass in the House thanks to the Republican majority. As the bills are moving to the Senate, Speaker Boehner holds a press conference and begins with a short address to the American public to promote both bills. First, Boehner points out that Bill A should pass the Senate promptly and be signed by the president.  Reid and Obama have promised as much. Second, the Speaker points out that Bill B will be likely be blocked in the Senate and/or on the president's desk.  Reid and Obama have (virtually) promised to do that too. "
Paul Merrell

The Citadel Is Breached: Congress Taps the Fed for Infrastructure Funding | WEB OF DEBT... - 0 views

ellenbrown.com/...fed-for-infrastructure-funding

banksters Fed infrastructure-funding highway-trust-fund

shared by Paul Merrell on 18 Jan 16 - No Cached
  • In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed’s “independence” by tapping its reserves and bank dividends for infrastructure funding. The bill was a start. But some experts, including Congressional candidate Tim Canova, say Congress should go further and authorize funds to be issued for infrastructure directly. For at least a decade, think tanks, commissions and other stakeholders have fought to get Congress to address the staggering backlog of maintenance, upkeep and improvements required to bring the nation’s infrastructure into the 21st century. Countries with less in the way of assets have overtaken the US in innovation and efficiency, while our dysfunctional Congress has battled endlessly over the fiscal cliff, tax reform, entitlement reform, and deficit reduction. Both houses and both political parties agree that something must be done, but they have been unable to agree on where to find the funds. Republicans aren’t willing to raise taxes on the rich, and Democrats aren’t willing to cut social services for the poor.
  • In December 2015, however, a compromise was finally reached. On December 4, the last day the Department of Transportation was authorized to cut checks for highway and transit projects, President Obama signed a 1,300-page $305-billion transportation infrastructure bill that renewed existing highway and transit programs. According to America’s civil engineers, the sum was not nearly enough for all the work that needs to be done. But the bill was nevertheless considered a landmark achievement, because Congress has not been able to agree on how to fund a long-term highway and transit bill since 2005. That was one of its landmark achievements. Less publicized was where Congress would get the money: largely from the Federal Reserve and Wall Street megabanks. The deal was summarized in a December 1st Bloomberg article titled “Highway Bill Compromise Would Take Money from US Banks”: The highway measure would be financed in part by a one-time use of Federal Reserve surplus funds and by a reduction in the 6 percent dividend that national banks receive from the Fed. . . . Banks with $10 billion or less in assets would be exempt from the cut. The Fed’s surplus capital comes from the 12 reserve banks. The highway bill would allow for a one-time draw of $19 billion from the surplus, which totaled $29.3 billion as of Nov. 25. . . . Banks vigorously fought the dividend cut, which was estimated to generate about $17 billion over 10 years for the highway trust fund.
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