Friday, November 30, 2012
One stop along the road to destruction...America is no longer sustainable!
The following example is from PatDollard.com
Obama Admin Kills Off 100 Year Old Oyster Farm
ABC: Kevin Lunny’s struggle to keep his family’s oyster farm running in Point Reyes National Seashore appears to be over, closing out an era of oysterman plying the park’s pristine waters and ushering in the nation’s newest ocean wilderness.
U.S. Interior Secretary Ken Salazar’s announcement Thursday that he was allowing the oyster farm’s lease to expire took many by surprise — especially Drakes Bay Oyster Co. owner Lunny — whose family also operates a cattle ranch in the park.
“We expected a different decision. We really thought that there was a right and a wrong here, and we expected the secretary to make the right decision,” Lunny said.
Salazar’s move keeps intact a Congressional mandate from 1976 that sought to restore Drakes Estero to its natural state, removing the oyster racks and motor boats used to shuttle the shelled delicacies to and from shore. Environmentalists and the National Park Service said the farm disturbed harbor seal pupping, and damaged native plants.
In the end, after millions of dollars spent on studies and years of heated debate, Salazar decided that returning the area to its natural state was more important than allowing a popular local business to continue operating.
Thursday, November 29, 2012
Tuesday, November 27, 2012
A Tax Cut For The Economy
Source: A Voice Of sanity
An Overdue Book
By Thomas Sowell
If everyone in America had read Stephen Moore’s new book, “Who’s The Fairest of Them All?”, Barack Obama would have lost the election in a landslide.
The point here is not to say, “Where was Stephen Moore when we needed him?” A more apt question might be, “Where was the whole economics profession when we needed them?” Where were the media? For that matter, where were the Republicans?
Since “Who’s The Fairest of Them All?” was published in October, there was little chance that it would affect this year’s election. But this little gem of a book exposes, in plain language and with easily understood facts, the whole house of cards of assumptions, fallacies and falsehoods which constitute the liberal vision of the economy.
Yet that vision triumphed on election day, thanks to misinformation that was artfully presented and seldom challenged. The title “Who’s The Fairest of Them All?” is an obvious response to liberals’ claim that their policies are aimed at creating “fairness” by, among other things, making sure that “the rich” pay their “fair share” of taxes. If you want a brief but thorough education on that, just read chapter 4, which by itself is well worth the price of the book.
A couple of graphs on pages 104 and 108 are enough to annihilate the argument about “tax cuts for the rich.” These graphs show that, under both Republican President Calvin Coolidge and Democratic President John F. Kennedy, high-income people paid more tax revenues into the federal treasury after tax rates went down than they did before.
There is nothing mysterious about this. At high tax rates, vast sums of money disappear into tax shelters at home or is shipped overseas. At lower tax rates, that money comes out of hiding and goes into the American economy, creating jobs, rising output and rising incomes. Under these conditions, higher tax revenues can be collected by the government, even though tax rates are lower. Indeed, high income people not only end up paying more taxes, but a higher share of all taxes, under these conditions.
This is not just a theory. It is what hard evidence shows happened under both Democratic and Republican administrations, from the days of Calvin Coolidge to John F. Kennedy to Ronald Reagan and George W. Bush. That hard evidence is presented in clear and unmistakable terms in “Who’s The Fairest of Us All?”
Another surprising fact brought out in this book is that the Democrats and Republicans both took positions during the Kennedy administration that were the direct opposite of the positions they take today. As Stephen Moore points out, “the Republicans almost universally opposed and the Democrats almost universally favored” the cuts in tax rates that President Kennedy proposed.
Such Republican Senate stalwarts as Barry Goldwater and Bob Dole voted against reducing the top tax rate from 91% to 70%. Democratic Congressman Wilbur Mills led the charge for lower tax rates.
Unlike the Republicans today, John F. Kennedy had an answer when critics tried to portray his tax cut proposal as just a “tax cut for the rich.” President Kennedy argued that it was a tax cut for the economy, that changed incentives meant a faster growing economy and that “A rising tide lifts all boats.”
If Republicans today cannot seem to come up with their own answer when critics cry out “tax cuts for the rich,” maybe they can just go back and read John F. Kennedy’s answer.
A truly optimistic person might even hope that media pundits would go back and check out the facts before arguing as if the only way to reduce the deficit is to raise tax rates on “the rich.”
If they are afraid that they would be stigmatized as conservatives if they favored cuts in tax rates, they might take heart from the fact that not only John F. Kennedy, but even John Maynard Keynes as well, argued that cutting tax rates could increase tax revenues and thereby help reduce the deficit.
Because so few people bother to check the facts, Barack Obama can get away with statements about how “tax cuts for the rich” have “cost” the government money that now needs to be recouped. Such statements not only promote class warfare, to Obama’s benefit on election day, they also distract attention from his own runaway spending behind unprecedented trillion dollar deficits.
Since “Who’s The Fairest of Them All?” was published in October, there was little chance that it would affect this year’s election. But this little gem of a book exposes, in plain language and with easily understood facts, the whole house of cards of assumptions, fallacies and falsehoods which constitute the liberal vision of the economy.
Yet that vision triumphed on election day, thanks to misinformation that was artfully presented and seldom challenged. The title “Who’s The Fairest of Them All?” is an obvious response to liberals’ claim that their policies are aimed at creating “fairness” by, among other things, making sure that “the rich” pay their “fair share” of taxes. If you want a brief but thorough education on that, just read chapter 4, which by itself is well worth the price of the book.
A couple of graphs on pages 104 and 108 are enough to annihilate the argument about “tax cuts for the rich.” These graphs show that, under both Republican President Calvin Coolidge and Democratic President John F. Kennedy, high-income people paid more tax revenues into the federal treasury after tax rates went down than they did before.
There is nothing mysterious about this. At high tax rates, vast sums of money disappear into tax shelters at home or is shipped overseas. At lower tax rates, that money comes out of hiding and goes into the American economy, creating jobs, rising output and rising incomes. Under these conditions, higher tax revenues can be collected by the government, even though tax rates are lower. Indeed, high income people not only end up paying more taxes, but a higher share of all taxes, under these conditions.
This is not just a theory. It is what hard evidence shows happened under both Democratic and Republican administrations, from the days of Calvin Coolidge to John F. Kennedy to Ronald Reagan and George W. Bush. That hard evidence is presented in clear and unmistakable terms in “Who’s The Fairest of Us All?”
Another surprising fact brought out in this book is that the Democrats and Republicans both took positions during the Kennedy administration that were the direct opposite of the positions they take today. As Stephen Moore points out, “the Republicans almost universally opposed and the Democrats almost universally favored” the cuts in tax rates that President Kennedy proposed.
Such Republican Senate stalwarts as Barry Goldwater and Bob Dole voted against reducing the top tax rate from 91% to 70%. Democratic Congressman Wilbur Mills led the charge for lower tax rates.
Unlike the Republicans today, John F. Kennedy had an answer when critics tried to portray his tax cut proposal as just a “tax cut for the rich.” President Kennedy argued that it was a tax cut for the economy, that changed incentives meant a faster growing economy and that “A rising tide lifts all boats.”
If Republicans today cannot seem to come up with their own answer when critics cry out “tax cuts for the rich,” maybe they can just go back and read John F. Kennedy’s answer.
A truly optimistic person might even hope that media pundits would go back and check out the facts before arguing as if the only way to reduce the deficit is to raise tax rates on “the rich.”
If they are afraid that they would be stigmatized as conservatives if they favored cuts in tax rates, they might take heart from the fact that not only John F. Kennedy, but even John Maynard Keynes as well, argued that cutting tax rates could increase tax revenues and thereby help reduce the deficit.
Because so few people bother to check the facts, Barack Obama can get away with statements about how “tax cuts for the rich” have “cost” the government money that now needs to be recouped. Such statements not only promote class warfare, to Obama’s benefit on election day, they also distract attention from his own runaway spending behind unprecedented trillion dollar deficits.
COPYRIGHT 2011 THOMAS SOWELL/CREATORS.COM
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Additional articles by Thomas Sowell
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Additional articles by Thomas Sowell
Monday, November 26, 2012
"The Communists have won in America with Obama"
The following commentary/editorial by Xavier Lerma was published in the English edition of Pravda, a Russian news service. I couldn't have said it better myself... After having called the American voter complacent, un-informed, ignorant, and at sometimes, stupid, along comes an outsider (literally!) from the former Soviet Union without the bias of an American citizen, hits the nail squarely on the head with probably the best description/analysis of the 2012 presidential election. I especially like the line, "...Obama has been re-elected for a 2nd term by an illiterate society". Now I wouldn't have thought that one up myself because I assumed most Americans could read...I just thought their reading comprehension was near the kindergarten level. For if the average voter understood what it is Obama and his clan stands for, Obama would have been history in 2008. And so it was that whenever I used a lemming as an adjective to describe the typical Obama voter, I was 100% accurate. The only problem is that there are so many of those mouse like creatures that they will drag the rest of America over the cliff and then its "bye, bye Miss American Pie" ~ Norman E. Hooben highlighted emphasis mine
ps: Don't miss the video at the bottom of this page.
Obama’s Soviet Mistake
By Xavier Lerma
"We must seek support in the moral values that have ensured the
progress of our civilization. Honesty and hard work, responsibility and faith
in our strength are bound to bring us success."- Vladimir Putin
The
red, white and blue still flies happily but only in Russia. Russia still has St
George defeating the Dragon with the symbol of the cross on its' flag. The ACLU
and other atheist groups in America would never allow the US flag with such
religious symbols. Lawsuits a plenty against religious freedom and expression
in the land of the free. Christianity in the U.S. is under attack as it was
during the early period of the Soviet Union when religious symbols were against
the law.
His popular articles can be seen at http://xlerma.wordpress.com/
Hyperlink to Pravda is mandatory if you republish this article.
ps: Don't miss the video at the bottom of this page.
Communist...it takes one to know one...or in this case, a former communist recognises Obama as one.
Obama’s Soviet Mistake
By Xavier Lerma
Putin
in 2009 outlined his strategy for economic success. Alas, poor Obama did the
opposite but nevertheless was re-elected. Bye, bye Miss American Pie. The Communists have won in America with
Obama but failed miserably in Russia with Zyuganov
who only received 17% of the vote. Vladimir
Putin was re-elected as President keeping the NWO order out of Russia while
America continues to repeat the Soviet mistake.
After
Obama was elected in his first term as president the then Prime Minister of
Russia, Vladimir Putin gave a speech at the World Economic Forum in Davos,
Switzerland in January of 2009. Ignored by the West as usual, Putin gave
insightful and helpful advice to help the world economy and saying the world
should avoid the Soviet mistake.
Recently,
Obama has been re-elected for a 2nd term by an illiterate society and he is
ready to continue his lies of less taxes while he raises them. He gives
speeches of peace and love in the world while he promotes wars as he did in
Egypt, Libya and Syria. He plans his next war is with Iran as he fires or
demotes his generals who get in the way.
Putin
said regarding the military, "...instead of solving the problem, militarization pushes it to a
deeper level. It draws away from the economy immense financial and material
resources, which could have been used much more efficiently elsewhere."
Well,
any normal individual understands that as true but liberalism
is a psychosis. O'bomber even keeps the war going along the Mexican border
with projects like "fast and furious" and there is still no sign of
ending it. He is a Communist without question promoting the Communist Manifesto
without calling it so. How shrewd he is in America. His cult of personality
mesmerizes those who cannot go beyond their ignorance. They will continue to
follow him like those fools who still praise Lenin and Stalin in Russia.
Obama's fools and Stalin's fools share the same drink of illusion.
Reading
Putin's speech without knowing the author, one would think it was written by
Reagan or another conservative in America. The speech promotes smaller
government and less taxes. It comes as no surprise to those who know Putin as a
conservative. Vladimir Putin went on to say:
"...we are reducing taxes on production, investing money in the economy. We are optimizing state expenses.
The second possible mistake would be excessive interference into the economic life of the country and the absolute faith into the all-mightiness of the state.
There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results.
Unreasonable expansion of the budget deficit, accumulation of the national debt - are as destructive as an adventurous stock market game.
During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure no one would want history to repeat itself."
President Vladimir Putin could never have imagined anyone so ignorant or so willing to destroy their people like Obama much less seeing millions vote for someone like Obama. They read history in America don't they? Alas, the schools in the U.S. were conquered by the Communists long ago and history was revised thus paving the way for their Communist presidents. Obama has bailed out those businesses that voted for him and increased the debt to over 16 trillion with an ever increasing unemployment rate especially among blacks and other minorities. All the while promoting his agenda.
Russian Flag |
Let's
give American voters the benefit of the doubt and say it was all voter fraud
and not ignorance or stupidity in electing a man who does not even know what to
do and refuses help from Russia when there was an oil spill in the Gulf of
Mexico. Instead we'll say it's true that the Communists usage of electronic
voting was just a plan to manipulate the vote. Soros and his ownership of the
company that counts the US votes in Spain helped put their puppet in power in
the White House. According to the Huffington Post, residents in all 50 states
have filed petitions to secede from the Unites States. We'll say that these
Americans are hostages to the Communists in power. How long will their
government reign tyranny upon them?
Russia
lost its' civil war with the Reds and millions suffered torture and death for
almost 75 years under the tyranny of the United Soviet Socialist
Republic. Russians survived with a new and stronger faith in God and ever
growing Christian Church. The question is how long will the once "Land of
the Free" remain the United Socialist States of America? Their suffering
has only begun. Bye bye Miss American Pie! You know the song you hippies. Sing
it! Don't you remember? The 1971 hit song by American song writer Don McLean:
"And, as I watched him on the stage my hands
were clenched in fists of rage.
No angel born in Hell could break that Satan's
spell
And, as the flames climbed high into the night to
light the sacrificial rite, I saw...
Satan laughing with delight the day the
music died
He was singing, bye bye Miss American Pie
Drove my Chevy to the levee, but the levee was dry
Them good ol' boys were drinking whiskey and rye,
singing...
This'll be the day that I die
This'll be the day that I die
So, the
question remains:
How
long will America suffer and to what depths?
Xavier Lerma
Contact Xavier Lerma at xlermanov@swissmail.orgHis popular articles can be seen at http://xlerma.wordpress.com/
Hyperlink to Pravda is mandatory if you republish this article.
_________________________________________
“The danger to America is not Barack Obama but a
citizenry capable of entrusting a man like him with the presidency. It will be
easier to limit and undo the follies of an Obama presidency than to restore the
necessary common sense and good judgment to an electorate willing to have such
a man for their president.
The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails us. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The republic can survive a Barack Obama. It is less likely to survive a multitude of fools such as those who made him their president.” ~ Author Unknown
The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails us. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The republic can survive a Barack Obama. It is less likely to survive a multitude of fools such as those who made him their president.” ~ Author Unknown
______________
_____
The Terrifying
Line in Obama's Speech That Everyone Missed
Source: Investor's Business Daily September 2012
His Agenda: President Obama's convention speech got
rough reviews, and rightly so. He offered little but tired bromides and
recycled promises. But critics overlooked one promise that will guarantee an
even bleaker future.
There was
plenty to dislike in Obama's speech. The language was flat, his delivery
languid. The speech was stuffed with standard Obama chestnuts about the
smallness of politics, the corrupting influence of money in politics, and how
cynicism is our worst enemy.
Instead of
stirring rhetoric filled with hope and promise, Obama pledged that under his
leadership, "our path is harder" and "our road is longer."
Seriously?
After four years of the worst economic recovery since the Depression, falling
incomes, lower-paying jobs, increased hopelessness and exploding debt, all
Obama has to offer is that he'll make this nightmare last even longer?
He also told the public that they "elected me
to tell you the truth" not to "tell you what you wanted to
hear," but then proceeded to hide inconvenient truths while filling the
public's ears with sweet nothings.
For example,
he pledged government help for everyone who could possibly want or need it, but
managed to avoid any mention of the hard truth that the national debt just topped
$16 trillion and entitlements are unsustainable.
He said he'd
spend money saved from ending the wars in Iraq and Afghanistan on roads,
bridges and schools. Even the liberal press wasn't buying this one. As the AP
pointed out, Obama "laid claim to a peace dividend that doesn't
exist."
Obama
promised to "take responsible steps" that would "keep the
promise of Social Security." But he failed to mention that the only
options he's left on the table are raising taxes or cutting benefits. That may
not be what people want to hear, but it's the absolute truth.
He trotted
out his supposed plan to cut deficits by $4 trillion over the next decade. But
his actual plan — the budget he presented in February — would add $3.5 trillion
in deficits, according to the Congressional Budget Office.
Then Obama
said he'd create a million new manufacturing jobs, recruit another 100,000 math
and science teachers, cut tuition growth in half, and reform the tax code. All
by magic, apparently, since he's provided no detailed plans on any of this.
But while
everyone was picking apart these and other flaws in Obama's speech, they
overlooked the most frightening line of all. That was when Obama promised that
he'd pursue "the kind of bold, persistent experimentation that Franklin
Roosevelt pursued during the only crisis worse than this one."
That promise
might have made liberal hearts swoon. But as Amity Shlaes explained in her
outstanding history of the era — "The Forgotten Man" — it was precisely
FDR's "bold, persistent experimentation" that was largely to blame
for the length, depth and severity of the Great Depression.
Convinced
that the government had to do something, FDR tinkered and experimented, she
said, figuring that if he didn't "get it right the first time ... maybe
he'd get it right the second time." But the very arbitrariness of FDR's
actions, she found, made it impossible for businesses to make plans. And so, as
FDR's bold experiments increased, business activity decreased and markets
froze.
"From
the point of view of a business," Shlaes said in a 2009 interview,
"it is annihilating to hear Washington uncertain, and that itself retards
recovery because you really don't know what to expect."
If Obama wants to conduct experiments, he should get a job as a high school science teacher, and not use the entire nation as guinea pigs, particularly when we already know how his tests will turn out.
If Obama wants to conduct experiments, he should get a job as a high school science teacher, and not use the entire nation as guinea pigs, particularly when we already know how his tests will turn out.
The same fools will be drawn to Princess Hillary in 2016...if she's not incarcerated by then |
Sunday, November 25, 2012
Wishing ill will on Obama voters...I hope they lose every penny!
There was a warning posted here back in April of 2012...
The following is from WND
Now Obama wants your 401(k)
Treasury, Labor on path to nationalize retirement
NEW YORK – Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.
Remarkably, those financial professionals specializing in private retirement savings and the U.S. citizens investing in private retirement plans now face the possibility the Obama administration and its allies on the political left will impose rules and regulations that effectively abolish the private retirement savings and investment markets.
Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt.
Government takeover?
An Investment Company Institute study published this month found that U.S. retirement assets totaled $18.5 trillion at the end of the second quarter 2012, of which 3.5 trillion was in IRAs and $5.1 trillion was in 401(k) plans.
Since 2010, the U.S. Treasury Department and the Department of Labor have been holding combined hearings on various plans designed to introduce government-mandated retirement plans and investment options, including government annuities invested primarily in U.S. Treasury debt, into the private retirement savings market.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explained National Seniors Council National Director Robert Crone, describing a recent Treasury-Labor hearing held in the Labor Department’s main auditorium.
“However it is clear that his is just the first step toward a government takeover. It feels like the beginning of the debate over health care and we all know how that ended up.”
‘Automatic IRA’
With the issuance of the White House 256-page Budget Proposal for Fiscal Year 2013, the Obama administration endorsed “Automatic IRAs,” a plan introduced into Congress in 2010 by Sens. John Kerry, D-Mass, and Jeff Bingaman, D-N.M., in which private companies would be automatically enrolled into government-mandated IRAs, forcing those businesses to contribute on behalf of their employees a “default amount” equal to 3 percent of an employees pay, unless an employee specifically opts out of the plan.
The FY 2013 Budget proposal notes that currently 78 million working Americans, roughly half of the work force, lack employer-based retirement plans.
According to testimony given by David C. John of the Heritage Foundation to the House Committee on Ways and Means on April 17, most of the 78 million working Americans not participating in employer-based retirement plans are part-time employees of smaller businesses, women, members of minority groups or all three.
The remedy proposed on page 147 of the FY 2012 Budget Proposal is “a system of automatic work-place pensions that will expand access to tens of millions of workers who currently lack plans” by providing their employees with a government-mandated “direct deposit IRA account,” exempting only businesses with 10 or fewer employees and providing participating businesses with tax credits to compensate for the businesses implementing and administering the plans.
While the Automatic IRA would serve the purpose of extending private retirement plans to disadvantaged and generally poorer workers, the innovation would place additional costs upon employers. It would require employer contributions to the plans, even if tax credits fully complemented the businesses for implementing and administering them.
Retirement USA
The Service Employee International Union, or SEIU, a key labor union ally of the Obama administration, has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced into U.S. Treasury debt.
Branding the program “Retirement USA,” the SEIU has joined with the AFL-CIO, the Economic Policy Institute, a Washington-based economic left-leaning think tank that receives substantial labor funding, and two other left-leaning interest groups, the Pension Rights Center and the National Committee to Preserve Social Security.
The Retirement USA idea is promote the concept that all workers in the U.S. have a right to a government retirement account that would fund a secure retirement with adequate dollars, in addition to Social Security and private ERISA-retirement workplace retirement programs such as 401(k) programs.
“Our goal is to involve all workers and all employees in a government-mandated retirement program, with the government putting up the difference for lower paid employees,” Nancy Hwa, a spokeswoman for the participating Pension Rights Center, told WND in 2010.
Put simply, the Retirement USA government-mandated workplace retirement account would require by law employers and employees to contribute to a retirement account for every employee and demand that a portion of that contribution go into a federal-government created annuity that would be funded by purchasing Treasury debt.
“Retirement USA is basically an effort that amounts to nationalizing 401(k)s and IRAs,” David John, a senior research fellow at the Heritage Foundation, told WND when the Retirement USA idea was proposed two years ago.
Under the guise of making workplace retirement savings accounts available to all Americans and insuring that existing retirement savings accounts pay lifetime income, the SEIU-led Retirement USA effort is quietly exploring strategies that would create “Universal IRAs” or “Guaranteed Retirement Accounts” for all workers.
Following lead of Argentina
Writing in the London Telegraph in October 2008, business and economics editor Ambrose Evans-Pritchard warned that G7 nations, including the United States, may begin following the path of Argentina in forcing privately managed pension funds to be invested in government-issued debt.
In 2008, Argentine sovereign debt was trading at 29 cents on the dollar, reflecting the devalued state of the Argentine peso, with the result that private pensioners holding government debt in their retirement accounts could not be assured those bonds would have any meaningful value at maturity.
“Here is a warning to us all,” Evans-Pritchard wrote. “The Argentine state is taking control of the country’s privately managed pension funds in a dramatic move to raise cash.”
He warned the same could happen in the United States and Europe.
“The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice,” Evans-Prichard warned. “It is a foretaste of what might happen across the world as governments discover that tax revenue and the bond markets are unwilling to plug the gap.”
Currently, as reported Friday by the Financial Times, Argentina is facing yet another bond default after U.S. District Court Judge Thomas Griesa ruled that an upcoming payment to holders of the debt-swap bonds Argentina issued in 2005 and 2010 must be accompanied by a payment in full of $1.3 billion. The payment is to be made to two U.S. hedge fund creditors that did not accept the 2005 and 2010 debt swaps proposed for the bonds Argentina defaulted on in 2001.
ATTENTION all future retirees: Why does Obama want your 401K ?I don't suppose many paid any attention but its like so many other warnings that go unheeded, the Obama voters do not have a clue what it is he is up to. Normally I wouldn't wish any ill will towards anyone but I sincerely hope every single Obama voter who has a 401K loses every single penny they put into it...and that day is coming! Why? Because Now Obama wants your 401(k)
The following is from WND
Now Obama wants your 401(k)
Treasury, Labor on path to nationalize retirement
NEW YORK – Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.
Remarkably, those financial professionals specializing in private retirement savings and the U.S. citizens investing in private retirement plans now face the possibility the Obama administration and its allies on the political left will impose rules and regulations that effectively abolish the private retirement savings and investment markets.
Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt.
Government takeover?
An Investment Company Institute study published this month found that U.S. retirement assets totaled $18.5 trillion at the end of the second quarter 2012, of which 3.5 trillion was in IRAs and $5.1 trillion was in 401(k) plans.
Since 2010, the U.S. Treasury Department and the Department of Labor have been holding combined hearings on various plans designed to introduce government-mandated retirement plans and investment options, including government annuities invested primarily in U.S. Treasury debt, into the private retirement savings market.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explained National Seniors Council National Director Robert Crone, describing a recent Treasury-Labor hearing held in the Labor Department’s main auditorium.
“However it is clear that his is just the first step toward a government takeover. It feels like the beginning of the debate over health care and we all know how that ended up.”
‘Automatic IRA’
With the issuance of the White House 256-page Budget Proposal for Fiscal Year 2013, the Obama administration endorsed “Automatic IRAs,” a plan introduced into Congress in 2010 by Sens. John Kerry, D-Mass, and Jeff Bingaman, D-N.M., in which private companies would be automatically enrolled into government-mandated IRAs, forcing those businesses to contribute on behalf of their employees a “default amount” equal to 3 percent of an employees pay, unless an employee specifically opts out of the plan.
The FY 2013 Budget proposal notes that currently 78 million working Americans, roughly half of the work force, lack employer-based retirement plans.
According to testimony given by David C. John of the Heritage Foundation to the House Committee on Ways and Means on April 17, most of the 78 million working Americans not participating in employer-based retirement plans are part-time employees of smaller businesses, women, members of minority groups or all three.
The remedy proposed on page 147 of the FY 2012 Budget Proposal is “a system of automatic work-place pensions that will expand access to tens of millions of workers who currently lack plans” by providing their employees with a government-mandated “direct deposit IRA account,” exempting only businesses with 10 or fewer employees and providing participating businesses with tax credits to compensate for the businesses implementing and administering the plans.
While the Automatic IRA would serve the purpose of extending private retirement plans to disadvantaged and generally poorer workers, the innovation would place additional costs upon employers. It would require employer contributions to the plans, even if tax credits fully complemented the businesses for implementing and administering them.
Retirement USA
The Service Employee International Union, or SEIU, a key labor union ally of the Obama administration, has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced into U.S. Treasury debt.
Branding the program “Retirement USA,” the SEIU has joined with the AFL-CIO, the Economic Policy Institute, a Washington-based economic left-leaning think tank that receives substantial labor funding, and two other left-leaning interest groups, the Pension Rights Center and the National Committee to Preserve Social Security.
The Retirement USA idea is promote the concept that all workers in the U.S. have a right to a government retirement account that would fund a secure retirement with adequate dollars, in addition to Social Security and private ERISA-retirement workplace retirement programs such as 401(k) programs.
“Our goal is to involve all workers and all employees in a government-mandated retirement program, with the government putting up the difference for lower paid employees,” Nancy Hwa, a spokeswoman for the participating Pension Rights Center, told WND in 2010.
Put simply, the Retirement USA government-mandated workplace retirement account would require by law employers and employees to contribute to a retirement account for every employee and demand that a portion of that contribution go into a federal-government created annuity that would be funded by purchasing Treasury debt.
“Retirement USA is basically an effort that amounts to nationalizing 401(k)s and IRAs,” David John, a senior research fellow at the Heritage Foundation, told WND when the Retirement USA idea was proposed two years ago.
Under the guise of making workplace retirement savings accounts available to all Americans and insuring that existing retirement savings accounts pay lifetime income, the SEIU-led Retirement USA effort is quietly exploring strategies that would create “Universal IRAs” or “Guaranteed Retirement Accounts” for all workers.
Following lead of Argentina
Writing in the London Telegraph in October 2008, business and economics editor Ambrose Evans-Pritchard warned that G7 nations, including the United States, may begin following the path of Argentina in forcing privately managed pension funds to be invested in government-issued debt.
In 2008, Argentine sovereign debt was trading at 29 cents on the dollar, reflecting the devalued state of the Argentine peso, with the result that private pensioners holding government debt in their retirement accounts could not be assured those bonds would have any meaningful value at maturity.
“Here is a warning to us all,” Evans-Pritchard wrote. “The Argentine state is taking control of the country’s privately managed pension funds in a dramatic move to raise cash.”
He warned the same could happen in the United States and Europe.
“The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice,” Evans-Prichard warned. “It is a foretaste of what might happen across the world as governments discover that tax revenue and the bond markets are unwilling to plug the gap.”
Currently, as reported Friday by the Financial Times, Argentina is facing yet another bond default after U.S. District Court Judge Thomas Griesa ruled that an upcoming payment to holders of the debt-swap bonds Argentina issued in 2005 and 2010 must be accompanied by a payment in full of $1.3 billion. The payment is to be made to two U.S. hedge fund creditors that did not accept the 2005 and 2010 debt swaps proposed for the bonds Argentina defaulted on in 2001.
Voter Fraud...and Guess what?
The cheater still wins because we have a gutless Congress who doesn't have the intestinal fortitude to punish the cheater.
ROB THE VOTE from WorldNetDaily
THE BIG LIST of vote fraud reports
108% of voting population endorses Obama
WASHINGTON – The outcome of the Nov. 6 presidential election shocked almost everyone, with very few analysts expecting Barack Obama to win so decisively and to take so many of the “battleground” states that seemed to be pulling toward Romney.
But then the reports of voting irregularities started leaking out, then gushing out – like the 59 different Philadelphia voting divisions in which Mitt Romney received zero votes compared to Obama’s 19,605. And the Cleveland precinct in which Obama beat Romney 542 to 0. (In fact, Romney received zero votes in nine Cleveland precincts.) And in one Ohio county – widely considered ground zero for the election – Obama received 106,258 votes from 98,213 eligible voters – an impossible 108 percent of the vote. And that’s just the beginning.
WND is compiling a list of reports documenting voting irregularities and apparent fraud during the 2012 presidential tabulation. These reports include:
ROB THE VOTE from WorldNetDaily
THE BIG LIST of vote fraud reports
108% of voting population endorses Obama
WASHINGTON – The outcome of the Nov. 6 presidential election shocked almost everyone, with very few analysts expecting Barack Obama to win so decisively and to take so many of the “battleground” states that seemed to be pulling toward Romney.
But then the reports of voting irregularities started leaking out, then gushing out – like the 59 different Philadelphia voting divisions in which Mitt Romney received zero votes compared to Obama’s 19,605. And the Cleveland precinct in which Obama beat Romney 542 to 0. (In fact, Romney received zero votes in nine Cleveland precincts.) And in one Ohio county – widely considered ground zero for the election – Obama received 106,258 votes from 98,213 eligible voters – an impossible 108 percent of the vote. And that’s just the beginning.
WND is compiling a list of reports documenting voting irregularities and apparent fraud during the 2012 presidential tabulation. These reports include:
The Market Daily News reported on those 100 precincts in Cuyahoga County, Ohio, that on election day gave Romney zero votes, and Obama got 99 percent. “In more than 50 different precincts, Romney received two votes or less,” the report said. “One would think that such improbable results would get the attention of somebody out there.”
According to Philly.com, 59 voting divisions in Philadelphia produced a “head-spinning figure,” not one vote for Romney. “The unanimous support for Obama in these Philadelphia neighborhoods – clustered in almost exclusively black sections of West and North Philadelphia – fertilizes fears of fraud, despite little hard evidence,” the newspaper said.
A poll watcher told WND up to 10 percent of the ballots cast at a polling station in Pennsylvania reverted to a default, which gave Barack Obama a vote no matter who the voter had selected. The incident took place in the state where officials claimed Obama got a total of 19,605 votes in 59 voting divisions to zero for Mitt Romney and not far from the 100 precincts in Ohio where Obama got 99 percent of the vote, a feat not even achieved by third-world dictators. It was in Upper Macungie Township, near Allentown, Pa., where an auditor, Robert Ashcroft, was dispatched by Republicans to monitor the vote on Election Day. He said the software he observed would “change the selection back to default – to Obama.”
Chicago elections worker Steve Pickrum told WND as an equipment manager for the elections system, he was called when a voting machine malfunctioned. “On early voting when I did work on the floor when voters needed help using the equipment, I was able to see the preference of the voter, and every time that I saw [a] voter voted for Romney a ‘voter save failure’ message came up on the screen,’” he reported. Then when he went on election day to vote himself, he picked Romney and experienced the same error message. He reported he never experienced the error message when the voter was choosing Barack Obama.
Another poll worker, this one assigned at the University of Michigan, reported to WND a list of irregularities, including that the precinct captain told her at one point, “You go sit down, you are bothering me,” when she was trying to observe the proceedings. “I was only standing there and looking at voter documents,” she told WND. “It was clear that what bothered him was my very presence.” She said a short time later a young man arrived and identified himself as a Democrat poll challenger. “The first time he said anything was to object to my challenge of a voter. He tried to anger the voter by telling her ‘She does not believe you are who you say you are.’ He was trying to create a scene. It then happened again and I told him ‘You are not here to challenge me!’ His reply was a very loud ‘Yes I am! You are a Republican and you are here to prevent people from voting. You are holding up the line and creating obstructions,’” she reported. She told WND in fact no one waited more than about 15 minutes to vote the entire day, and there were no obstructions.
And in Florida, the Sun Sentinel reported that election workers a week after the election said they found 963 unaccounted-for ballots – in a warehouse. “How can you lose them? This is terrible,” candidate Chickie Brandimarte told officials. Election supervisor Brenda Snipes, however, said it’s routine for various vote totals to be adjusted up until the Nov. 18 final certification.
Also in Florida, residents began demanding changes in the electoral system that handed voters chaos, frustration and delays at polling stations. The Florida League of Women Voters and other groups are demanding from Gov. Rick Scott a plan to draft reforms for the state’s elections.
Fox News reported that voters in Nevada, North Carolina, Texas and Ohio also said they had pushed a button on a touch-screen voting machine for Romney, but the machines recorded their vote for Obama.
At the White House website, a report in the Examiner explains, there was posted a petition seeking a recount of the race. “In one county alone in Ohio, which was a battleground state, President Obama received 106,258 votes … but there were only 98,213 eligible voters. It’s not humanly possible to get 108 percent of the vote,” the petition claims.
Fox News reported that two election judges were replaced after illegally allowing unregistered voters to cast ballots.
The Columbus Dispatch estimated that more than 20 percent of registered Ohio voters aren’t eligible. “In two counties, the number of registered voters actually exceeds the voting-age population,” the report said. And, it said, in 31 other counties, registrations are above 90 percent of the population, “a rate regarded as unrealistic by most voting experts.”
Fox News also documented how Senate candidate Wendy Long, an attorney who was a clerk for Supreme Court Justice Clarence Thomas, recounted her voting experience. “A poll worker who was at the scanner studied my private ballot and proceeded to tell me that it was rejected because I did not ‘fill in every space.’ She then proceeded to indicate that I should mark the Democratic line all the way down.”
WND’s newest forum is your opportunity to report voter fraud
On YouTube was the testimony of a computer programmer, telling the Ohio Legislature that he was able to write a program that would rig elections by flipping the total vote from the real winner to a pre-selected candidate.
The Washington Times reported that officials in Florida banned observers from seeing the absentee ballots being opened and “there was no way to know whether the absentee ballots that were produced were the same ones that were opened, or if all the ballots were produced.”
Human Events claimed Ohio voters who are native to Somalia were being given a slate card saying, “Vote Brown all the way down” – an apparent reference to the Democratic senator.
The Washington Times reported its suspicions of voter fraud in Pennsylvania, including that “in Philadelphia, the [New] Black Panthers are currently standing outside polling booths, intimidating voters just like they did in 2008.” It said, too, that 70 Republican polling inspectors were blocked from access.
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