Straight talk about finances: you can't trust either the dishonest democrats or the rapacious republicans ...(updated)
UPDATE: 11-09-10 GOOGLE AND THE OBAMA ADMINISTRATION
"The National Legal and Policy Center (NLPC), a group that advocates for a smaller and more ethical government, wrote to leaders of the House Oversight Committee this month urging them to investigate a major privacy breach by Google. It wants to know if the company's ties to the administration helped it dodge penalties after the incident."
"The group also urges a look at Google's ties to the administration more generally, pointing to what it calls 'a growing body of evidence' that shows the administration's 'unusually close relationship with Google has resulted in favoritism towards the company on federal policy issues."'
Original Blog Entry ...
I am majorly mad at the rampant dishonesty of the government -- on both sides of the aisle.
The “Bush” Tax Cuts …
Again, believing anything “Bush” is a pejorative, the democrats want to roll back the so-called Bush tax cuts, at least on the wealthy, popularly defined as anyone making more than $250,000 ($500,000 for joint filers), and which covers 90% of small businesses whose owners file as individuals or pass-thru corporations.
But even that is being spun as a “cost” to the American taxpayer.
|From the New York Times …
Permanent cuts would bust the budget. Extending all of them would cost nearly $4 trillion over the next decade — $3.2 trillion for the so-called middle-class cuts and $700 billion for the richest Americans. There is no plausible level of spending cuts to offset the damage; the result would be chronic deficits and debilitating debt. <Source>
Citing that an extension of the Bush tax cuts would cost the taxpayers $4 TRILLION dollars over 10 years is pure and unadulterated nonsense.
One, its our money so it should be left in our pockets, to use as we see fit – and to stimulate the economy with our purchases that not so coincidently benefit our own welfare -- which is a good thing.
Two, it amounts to about $400 BILLION per year and while that is a significant amount of money, it is $100 BILLION less than the $500 BILLION the Obama Administration gutted from Medicare to fund Obamacare.
Three, no one knows what is likely to happen with Congressional spending in ten minutes, ten hours or ten days; let alone ten years. There are too many events, too many political calculations and too many hands reaching for the pork
And four, anything that keeps the Administration and Congress – both sides included – from spending money is beneficial to the taxpayers.
Both parties claim that they are against waste, fraud and abuse of government programs, so why is so much government money missing or not subject to stringent accounting rules?
Why is it that both sides complain about the waste, fraud and abuse in the Medicare program and we are not hearing about multi-million dollar recoveries of assets? Only about the “estimated” $60 BILLION in fraud – each year! <Source>
Why are criminal defense lawyers getting rich defending criminals and corporate scumbags – acting in seeming complicity with the prosecuting government agencies?
And why is the government settling crimes with corporations who cannot go to jail and allowing their executives to pay record fines without admitting nor denying the allegations – something which can be used against them in civil suits? With all of the investigation and prosecution information flushed down the drain and unavailable to the public.
Sanctimonious politicians lying through their teeth …
Even worse is the sanctimonious nature of the politicians who complain about the American people being under-taxed or not paying their fair share. I am not talking just about the liberal Marxists politicians who are all about confiscatory tax rates and wealth redistribution, I am including the conservative politicians who talk about returning more of the taxpayers money to the public – but not necessarily those who actually paid the taxes.
Who is lying to whom?
Both parties are complicit in raping the Treasury to bring pork back to their districts – to assuage the special interests and to demonstrate to the “public” that they are actually working for the “people.”
Many government programs are nothing but employment programs to keep a certain party or politician in power. Look at the useless military bases which have little or no tactical or strategic value. Look at the vast sums spent on universities for research with little or no practical value. Look at farm price subsidies which go to corporate agribusiness or “gentlemen” farmers – with little or no real money going to family farms. All subsidies costing the consumer billions in increased prices.
The real deal …
Truth-be-told, each politician is complicit in a major fraud against the “we the people.” That they openly solicit and accept campaign donations and proffers of voter support from the lobbyists who insert loopholes, exceptions and outright favorable provisions in the tax code – something which allows American business and the wealthiest of taxpayers to skirt “their” fair share of taxes by manipulating “offshore” accounts far from the jurisdiction and inspection of the Internal Revenue Service.
Recently we found that uber-liberal Google, an ardent financial supporter of the Obama Administration was playing the very same game.
“To reduce its overseas tax bill, Google uses a complicated legal structure that has saved it $3.1 billion since 2007 and boosted last year's overall earnings by 26 percent. While many multinationals use similar structures, Google has managed to lower its overseas tax rate more than its peers in the technology sector. Its rate since 2007 has been 2.4 percent.”
All perfectly legal, Business Week explains how Google profits end up in Bermuda, and shows how multinational corporations pit national tax codes against each other.
“Google's profits travel to the island's white sands via a convoluted route known to tax lawyers as the ‘Double Irish’ and the ‘Dutch Sandwich.’ In Google's case, it generally works like this: When a company in Europe, the Middle East, or Africa purchases a search ad through Google, it sends the money to Google Ireland. The Irish government taxes corporate profits at 12.5 percent, but Google mostly escapes that tax because its earnings don't stay in the Dublin office, which reported a pretax profit of less than 1 percent of revenues in 2008.”
“Irish law makes it difficult for Google to send the money directly to Bermuda without incurring a large tax hit, so the payment makes a brief detour through the Netherlands, since Ireland doesn't tax certain payments to companies in other European Union states. Once the money is in the Netherlands, Google can take advantage of generous Dutch tax laws. Its subsidiary there, Google Netherlands Holdings, is just a shell (it has no employees) and passes on about 99.8 percent of what it collects to Bermuda.”
“Any business or small business playing by the rules in the United States has a distinct disadvantage by this global shell game on corporate profits.”
“One-third of corporate profits goes to tax havens.” <Source>
Tax reform is a joke – on the American people …
Consider for a moment that the head of the committee which writes the tax laws is a scofflaw and a proven income tax cheat. Soon to face charges before the ethics committee. Or consider the Secretary of Treasury, smart enough to assist in running our economy, but who blamed “Turbo Tax” for failing to pay his fair share of taxes. An outright lie that was accepted by the media and his fellow political hacks – even though there was sufficient proof that he was explicitly told of his tax liabilities.
Bottom line …
Now that we have come through the rigors of the 2010 election cycle when it was presumed that politicians would say or do anything to get elected … we have nothing more to look forward to -- with a lame duck congress trying to prevent its power from dissipating in a puff of smoke, and the future 112th Congress trying to force lobbyists and others to pay for the 2012 election cycle.
Reform is unlikely. The people will continue to be screwed by an unfair tax code and by both political parties who have a hammerlock on our nation’s economy.
I am thinking ahead … those who were sent to Congress, this is a warning: don’t be co-opted by your party’s leadership else you find yourself on the doorstep in the next election. Senators, watch your political backs: 1/3 of you are coming up for re-election.
But in the final analysis, we all must do what we all must do to survive in this corrupt society which would rather pander to celebrity and social causes than restore our nation and our economy to greatness. But, as my best friend Al says, “There is always hope.”
“Nullius in verba.”-- take nobody's word for it!
“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell “Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar “Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell
“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar
“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS