Posts tagged ‘Economics’

April 23, 2012

2012 the Year of the Decider

One candidate calls himself a businessman who has lived in the real business world. He understands the economy because of this and will be a better choice for president because he’s a decider. Can some one please inform this candidate that he doesn’t understand how Government works? There are a group of elected officials called the congress who decide on financing the government not the economy. They call this a budget, which comes out of a budget committee then voted on by a majority of congress in both houses. Only if a majority in both houses passes this budget bill will you get the opportunity to decide by signing it into law or veto it and send it back for revisions. Capitalist don’t fear the president and his policies they fear the Congress and Senate for their lack of legislation. The problem any President has and will always have begun in the 1975 rules changes made by the senate. Any legislature to pass after a filibuster requires a three fifths vote of the senate or 60 votes out of 100 also know as a supermajority.

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July 21, 2011

Cut, Cap and Balance

For which the details do not exist except for $111 million in cuts initially yet not identified. Republicans
want to cut expenses, Cap Spending at 18.5% of GDP (22.5% next year) and a Balanced Budget Amendment which will also require a two thirds majority to raise taxes.

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June 22, 2011

Greed or shared growth.

While watching the financial channel many of the experts predict growth in the second half of the year.The degree of growth not specified. The question is growth for whom.

Sixteen million Americans are either unemployed or underemployed Corporations are holding trillions of dollars on their balance sheets. Corporate profits, Healthcare profits and Banking profits are at all time highs. Bonuses are greater than ever before for top executives and those making these profits. I remember a television advertisement with an old grey haired  man saying “at Morbid Stoney we make money the old fashioned way we earn it.” Those days are long gone. Today they make money utilizing computer generated trading models to take advantage of imbalances in the interest rate markets or  the stock market. The speed of executing billions of dollars of these transactions would boggle your mind. The biggest insult to hard working Americans is that Banks and Corporations are borrowing money from our Government at 0% or as high as .25% and investing in quick money transactions while home owners struggling to refinance can’t borrow at less than 4% on  average if they qualify.

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March 16, 2011

Florida Voters were fooled

Tuesday the 15th of March I attended a rally at the Spring Hill Dr. Library for Move On .Org. We were rallying for the workers in the State of Florida who are currently under attach by Governor Rick Scott and the Republican majorities in the State House and State Senate. I met a young man with his wife and children. He just lost his job because of the Scott budget cuts for social work programs. We heard from women who also lost her job recently with a heart condition and no health insurance while Scott was cutting Medicaid funding which gave her no options for treatment. Who are the workers in Florida? They are Teachers, Firemen, Policemen, Librarians, Nurses State Workers, County Workers and all the Service Employees of Florida. Targeted at the moment are Teachers in the public school system. Republican legislation Senate Bill 736 now called the Son of Six eliminates tenure for teachers hired beginning July 1, ties teachers pay to student test scores, and ends layoffs based on seniority. I find it cynical and not amusing that Republicans would use a reference to the Son of Sam a mass murderer because that’s exactly what they are doing to the Teaching Profession, murdering a once sacred profession. What this bill does it takes away everything gained through collective bargaining for teachers for over decades through union accomplishments, does this sound familiar Wisconsin. Teachers who once were admired for their contribution to society’s progress through teaching future generation are now no longer admired for their efforts but treated like they are the cause of the State Governments over spending. The truth of the matter is this. How else can you provide the money to businesses that were instrumental in getting you elected you do this by cutting aid to school districts by 1.7 Billion dollars and give tax cuts to those same businesses? Rick Scott a man who took the 5th amendment 75 times as CEO of HCA during a deposition hearing for his role in the embezzlement of billions from Medicare and The Republican majority House and Senate found the way by giving almost 1.5 Billion of tax cuts to Corporations. Those of you who voted for these characters are getting a wake up call. Sooner or later the old saying comes true, you can fool some of the people some of the time and some of the people all of the time but you can’t fool all of the people all of the time. Did Florida get fooled?

January 9, 2011

We have failed ourselves

The events in Tucson on January 8, 2011 the assassination attempt of Congresswomen Gabrielle Giffords, the murder of 6 individuals and wounding of 13 innocent bystanders  is the direct result of the lack of sensitivity and respect for one another practiced and sometimes promoted by those institutions and individuals who have an  influence over our country’s morality. 

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January 4, 2011

Yes We Are, Democrats

Webster defines a Democrat as an adherent to Democracy or one who practices social equality, Democracy meaning Government by the people or rule of the majority government in which the supreme power is vested in and exercised through a system of representation involving periodical held free elections. We participate in a Republic form of government having a chief of state who is not a monarch and who in modern times is a president, a government in which a supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law.

The oldest party in the united states is the Democratic party originally known as the Democratic-Republican Party until the 1830’s when Andrew Jackson and Martin Van Buren formed today’s Democratic Party.  During the same period a faction representing the new Wig Party was formed today it is known as the Republican Party. The new Democratic Party became a coalition of farmers, city-dwelling laborers, and Irish Catholics. Democrats opposed elites and aristocrats, the Bank of the United States, and the whiggish modernizing programs that would build up industry at the expense of the laborer or independent small farmer. Today our modern parties have evolved yet have not changed their basic principles.

We are Doctors, Lawyers, Businessmen, Corporate CEO’s, Scientists, Teachers, System Administrators, Programmers, Policemen, Fire Fighters, Laborers, Builders, and we are proud Americans. We practice a religious faith and some do not because of freedom of choice. We are husbands, wives, brothers, sisters, children, aunts, uncles and grandparents. We have contributed to the greatness of the United States and have served our country in the armed services. We believe that every man and women deserve equal opportunities to compete in the workforce and not be discriminated against because of race, color, religious preference; sexual orientation or age and we practice these principles. We believe that it is the right of every man and women to earn a living and share in the fruits of our nation as a result of their labor. We believe that all Americans no matter their economic status are entitled to Social Security and Health Care after retirement so that they may live the rest of their lives in dignity. We believe that charity begins at home and that the fortunate must help provide for the unfortunate.

We believe that Capitalism should promote the common good through economic systems and business acumen of fair wages and humane benefits and promotion of individual advancement. We believe this is only attainable when American students are properly prepared in their elementary and high school years of education; who will than be provided with equal and affordable access to higher education.

Finally, we believe there is a higher order governing our great nation. We believe our system of governing although not perfect is the greatest form of government bestowed on any people.

By: Vito J. Delgorio Sr.

December 17, 2010

No Tax Cuts without Representation

Who will pay? The poor and the middle class will pay. How you ask? Money given to the poor and middle class get spent in the economy creating demand for products and services. They buy food clothing and needed services the necessities to provide for a family not a dime will go into savings. Money given to the wealthy if not spent on luxuries goes directly into their trusts, savings, and ultimately their investments creating no demand for products and services, but does generate fees and commissions for Wall Street. The billions of dollars going to the poor and middle class stimulate economic activity that eventually go to the rich and wealthy in the form of dividends and capital gains, while the billions going to the rich and wealthy increase their wealth even more. It’s a loose loose situation for the poor and middle class. Why? Since our representatives in Washington refuse to have the rich and wealthy pay for their fare share the poor and middle class will pay eventually through increased taxes and cuts in entitlement programs targeted by bi-partisan Democrats and a majority of Republicans. This bill has set the precedent connecting Social Security to the national debt for the first time in our history even though Social Security is the only solvent entitlement program in the Government Budget a 2.6 Trillion Dollar Surplus which pays for itself and those bi-partisan Democrats and Republicans want to raid this trust to again transfer more money to the rich and wealthy. They couldn’t do it by privatizing so they will raid it by connecting it to our deficit budget. 

It has been reported that the 2010 midterms raised 4 billion dollars from donors. Senators and Congressman received 4 billion dollars to get elected. A majority came from the Wealthy and Corporations run by the Wealthy. These donors consider their contributions as an investment because they can’t take a tax deduction. How do you get a return on your investment of a campaign donation? You get an extension of the Bush tax cuts Plus. What is the return? If you just include the Estate Tax and Capital Gains and Dividend savings of 121 billion dollars that’s a return of 3025% over two years to simplify the numbers if you invest 1 thousand dollars for two years your return would be $30,250 dollars after two years. In Washington money talks louder than votes. 

The odds are stacked against the poor and middle class Americans. The Supreme Court ruled 5-4 that Corporations are People under our constitution giving them same rights as you and I. Washington has been taken over by Corporate American, Foreign Influence and Special Interests through our Elected Representatives. We no longer have a representative government. We have a ruling class. This Bill proves that.

December 7, 2010

Day in the Life of Joe Middle-Class Republican

By John Gray Cincinnati, Ohio 2004

Joe gets up at 6:00am to prepare his morning coffee. He fills his pot full
of good clean drinking water because some liberal fought for minimum water
quality standards. He takes his daily medication with his first swallow of
coffee. His medications are safe to take because some liberal fought to
insure their safety and work as advertised.

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December 6, 2010

The Great Con Job

If you’re wondering why there is pessimism and suffering in America you only need to look at what the Republican Administrations had perpetrated from 2000 to 2008. Most citizens have lost their faith in the systems provided to us
by our forefathers which guaranteed every American an opportunity to succeed.

Our Electoral Process was manipulated in the 2000 elections. Our presidency was decided by the Supreme Court. This was preceded by a purposeful deregulation of the financial services industry in 1999 with the Gramm, Leach, Bliley Act all of these sponsors were Republican and President Clinton could not veto the bill because the Republicans had a two thirds margin to override his veto.  In 2001 the World Trade Center attack shook America at its foundation which went unrecognized by the Republican Administration at the time to change our priorities as a nation. The propaganda machine of government utilizing our legislators who were controlled by corporate influence provided the media with constant erroneous information to accomplish one objective. Create a diversion in the day to day lives of all Americans in order to transfer the wealth of a nation to the top two percent wealth holders in the United States. While all Americans specifically Joe Middle Class were focused on the nine eleven tragedy and two wars fabricated by the Bush Administration Wall Street and Corporate America were reaping the rewards of the great con.

A picture is worth a thousand words:

Beginning in 1995 until 2007 republicans held a majority in both houses of congress except for the Senate in 107th congress
2001-2003 when it was split 50/50.  Reference:   http://www.infoplease.com/ipa/A0774721.html

Make no mistake when history is written the George W. Bush Dick Cheney Presidency will go down in history as the worst or at least one of the worst presidencies in the history of the United States.

It is now two years later into the Obama Administration with Republicans attributing our economic disaster to President Obama and the democratic controlled congress. If you listen intelligently to Mitch McConnell and John Boehner you wonder how they were elected and whom do they represent. All of their rhetoric borders on lies and nonsense. Their logic defies
rationality.  An example of this creative logic is the tax cuts for the wealthiest 2% of Americans in the United States.
Their argument is that a continued deficit creating tax cuts to the top 2% will create jobs in a recessionary economy. These tax cuts which originally contributed to the deficits and the recession will stimulate jobs growth. The Bush era tax
cuts created 1 million jobs until the election of Obama six months into Obama’s term June 2009 all of those jobs were lost. In affect the Bush era tax cuts lost jobs.

December 3, 2010

Pay back and Tax cuts for the top 2%

What we are experiencing now in Washington is a real example of pay back. The 2010 midterms racked up total campaign spending of 4 billion dollars exceeding the 2006 midterms which raised 2.85 billion dollars. These contributions
represent money given by individuals, small businesses and corporations, to candidates directly or through the DNC, RNC and PAC.

How does payback work you may ask? A prime example is what Republicans are fighting for today in Washington.
Whether it be the Senate or House they are fighting to give the top 2% of our economy seven hundred billion dollars ($700,000,000,000.00) in tax cuts for their investment in their campaigns totaling two billion dollars (2,000,000,000) . If you calculate the return it is obscene at a whopping 35,000% return. To put this in perspective if you invest 10,000 on January 1, 2010 at 35,000% you would get back 3,500,000.00 dollars on December 31st. How many Americans are getting that return on their CD?

All Americans must start to realize that the middle class whether you are Lower, Middle or Upper regardless of party affiliation have been prayed upon by the wealthy and influential. Through Wall Street, Investment Banking, and Insurance Companies and politically controlled Republican representatives’ the wealth of middle class has been stolen by the top 2%. How have they accomplished this? Deregulation of the Financial Services Industry in 1999 was the start. It began in 2000 with the Supreme Court election of George W. Bush and Dick Cheney. The Tax cuts in 2001 and 2003, two wars in 2001 and
2003, all of which were not paid for. The subsequent great depression caused by these irresponsible republican policies and the bail out by the United Sates Government protecting the wealth of our nation of which the cost still undetermined will be added to the debt. The massive debt built because of these irresponsible policies 1 Trillion dollars and growing and the transferring of the wealth to the top 2% is now being asked to be paid for by the middle class through reducing entitlement programs such as Social Security, Medicare, Medicaid, Veterans Benefits freezing pay for  Government Workers and the denying the Unemployed. Basically not only have they ripped us off but now they want us to pay again for that which they stole from us.

The argument for tax cuts being presented by the Republicans is that the top 2% represent small businesses and job creators. Here are some facts 98% of small businesses earns less than $250,000 of taxable income. Most small businesses average return on gross revenues after expenses is 10%  a year. A small business would have to gross 2.5 million dollars to be taxed at an adjusted taxable income over $250,000.00. How many of the mom and pop shops gross 2.5 million dollars? Please read the 2009 SBA report. Effective Federal Income Tax Rates Faced By Small US Small

File Format: PDF/Adobe Acrobat – Quick View

Bottom line Joe the Plummer is not the Small business the Republicans are representing. The top 2% do not represent small businesses or job creators. It’s pay back time by Republican and their integrity is questioned and rightfully so.

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