Wednesday, July 31, 2013
One Thousand Three Hundred individual posts on this dreadful sham of an economic 'recovery' in less than three years of our site's operation..
Just doing our best to inform our readers of a real world beyond the corporate media facade that all is well and people are back to normal..
Five years ago, people elected a man they embraced as Hope and Change and instead have gotten five years of utter bullshit..
This will anger liberal leaning readers..
We understand this but it is true nonetheless and if one takes off their partisan glasses and really looks at this President as who he is versus who you thought you were getting, you'd be infuriated as well..
We read yesterday in the New York Times that Obama is once again seeking to revive an old proposal to lower the corporate tax rate from 35% to 28% (and 25% for manufacturers).
Interestingly. Obama felt small businesses should be paying more tax because he raised their rates to 39.6% last year.. Yep, gotta crush those individual entrepreneurs and up-starts..
Is that something a liberal would do.. or a cold-calculating, cut-throat fiscal conservative Bastard would do?
Some corporations like GE and Facebook paid Zero in taxes last year... Yes not a penny...
Instead, Facebook will rake in $429 million in net tax refunds for the year... The company earned $1.1 billion in U.S. corporate profits last year."
That sounds like something George W Bush or Reagan would be very happy about doesn't it?
Could have sworn they were Republicans i.e. the contrarian party to the current Prez..
Anyways... let's just say a corporation that generates $1 Billion in profit and Actually paid what they were supposed to had their rate lowered from 35% to 28%...
35% of $1 Billion = $350 million; 28% equals $280 million
Obama would save the greedy soulless corporation $70 million dollars when we are carrying annual deficits because our expenditures i.e. what government is spending is greater than the tax revenue we're bringing in..
And where would this savings go? Job creation??
Ha! Don't bet on it.. It would go with the rest of the unsavory profits generated via Quantitative Easing and a very weakened US dollar:
Either buying up more stocks to enrich shareholders or using the money to expand further into third-world markets where labor is incredibly cheap
Obama still talks a good game; makes people really think he cares about them and wants them to have opportunity.
So where's the job creation programs?
The standard reply is to blame a do-nothing, obstructionist Congress...
Two responses to that weak defense:
1) The President has Executive Orders.. Any time he really wishes to supersede Congressional authority he can. The only limitation is the Order can not be used to create new law.
2) Obstruct is Exactly what an opposition party is supposed to do!
Think of it this way..
Let us say you are firmly and passionately pro-choice.. So you vote Representatives and Senators who reflect your personal beliefs on this issue...
And they get elected..
Now.. A big piece of abortion legislation is being debated that would weaken the ability for women to have abortions without government interference..
What do you want from your elected leaders.. for them to dig in their heels and defend the principles they professed and which made you vote for them? Or compromise and strike a deal?
We all know the answer..
And yet when its Conservatives in Congress with principle fighting the President its 'obstruction'...
But like we said often before, it really is ironic that Republicans would put up such a fuss when they have a fiscal Conservative in the White House...
How is the President very much like President Bush? Let's see:
* Obama allowed the extension of the Bush tax cuts not once but twice..
* The President pushed for a payroll tax break that saved workers on average $20 while severely weakening the Social Security pot to which that money was supposed to go (and by providing the tax break, business owners did not have to match the funds so they saved much more... as intended)
* Four years ago Obama re-nominated a fiscal conservative Republican to run the Federal Reserve (Bernanke) and without any proper checks and balances, has spent over $10 Trillion dollars propping up banks and corporations around the world while engaging in endless QE
As we stated yesterday, the Federal Reserve spends in one calendar year the equivalent of over two years of Welfare spending by the government...
And the only reason Bastard Ben isn't re-nominated a third time is he doesn't want the job anymore...
* Obama also kept Bush appointee Robert Gates on until the end of 2010 and current Sec of Defense is Republican and former Senator Chuck Hagel.
The Democrat President trusts Republicans to conduct the nation's military policy.. This includes keeping Guantanamo Bay open and using torture to get information from prisoners..
Personally we're not attacking the President for change of heart in this matter. Just pointing out what he campaigned on in 2008 vs reality...
* He has neglected the economic plight of black Americans more successfully than any racist white man or woman ever could..
Unemployment among black adults is near 14% while joblessness among black youth-- those of Trayvon's age up into early 20s (the ones that would have been his son) is at a horrific 40%. Only 7 years ago, that number was 19.8%
In three years time Obama's term in office will end... And he will get his glitzy Presidential Library via donations from all the corporations he's help enriched with plenty of shelve space to hold the commemorative plates, cups, saucers, spoons and 14k gold-plated coins..
And will this nation be any better economically in 2016 than it is now? And more importantly, will the success of Obama's two elections make Democrats afraid to nominate someone with Genuine liberal values and ideologies...
Or will they pick another fiscally conservative shill to counter the ultra-zealous, deeply out of touch Republican that's bound to be the '16 nominee?
All we know is this...
Reagan's financial policies were economically destructive and hurt millions upon millions of working people when the smiling, jellybean munching 'Gipper' was in charge back in the 1980s.
Its no less destructive with the smooth talking slickety-slick man currently in charge..