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POPS Uncle Sam’s Collections Continue Their Steep Drop It is ironic to say the least that Congress and the Obama administration are glorifying the idea of a “public option” that would ultimately lead to government-run health care while Treasury receipts continue to shrink. If the private health insurance market disappears, so will its taxes. To name just one example, Aetna’s recorded income tax expense on its financial statements for 2005-2008 (including state and local taxes) averaged roughly $900 million per year. Put the company’s health insurance segment out of business, and a large portion of those taxes would stop coming in, digging the country’s and various states’ debt holes that much deeper. The establishment press has paid very little attention to fiscal 2009’s drop of 19.5% in receipts from economic activity, so I expect similar treatment of October’s continuation of the trend. It would appear that they don’t want any unsettling news getting in the way of the statist agenda.
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POPSObama under fire over falling dollar This is all tied up with our economic crisis & exacerbated by the Stimulus stupidity, the Clunkers joke, the Health Care proposals. It is the height of national treason to have the world own us.
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POPSOut: Commie Truther Green Jobs Czar. In: Union Hack “Manufacturing” Czar Bloom will continue to double-dip the government coffers as the Treasury Secretary’s car czar " oh, excuse me, “senior auto adviser.” Like so many of the Czars of the Obama Underworld, Bloom will serve in a completely superfluous position. Why does America need a “manufacturing” czar? Doesn’t the Department of Labor cover that jurisdiction already? No, Bloom has no actual, specialized experience in manufacturing. He does have a long track record of union hatchet jobs, though/ J.P. Freire and David Freddoso at the Examiner Commenter Gabriel Sutherland at Tom Maguire’s Just One Minute Read More >>> http://michellemalkin.com/
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POPSLast Safe Haven for Savings Threatened!
Manny Levine, CEO and founder of "Snooze, Inc", the nation's largest mattress manufacturing company, said the move was "nothing more than a power play by the current administration to get in bed with our customers and control how they handle their money!" White House Spokesman Robert Gibbs said the move was an emergency measure to combat "hoarding" on behalf of American Taxpayers, "who are not doing their part to bring back the sagging economy!" Gibbs said people, as well as corporations, were holding on to a large portion of recent stimulus checks, and not putting the handouts back into the economy. "The only people spending money," he said forcefully, " is the government! This is un american, and detrimental to this administration's long term goal of control and reshaping of the economy and our economic system." Bennie Emanuel, one of the 5 Emanuel brothers advising Obama said," our radical changeover of the American Way will fail unless every single taxpayer goes broke! Onl
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POPSThe Unbelievable connection and nepotism of Obama and Geithner The message the left holds onto is that Obama i an intellectual who worked his way up from poverty to become the leader of the free world. As If, any of that came without peoples hands on the yellow brick road that Obama skipped his way into the whitehouse on. Turn on the lights. watch the cockroaches scramble.
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POPSObama: Trilateral Commission Endgame "Is this a mere coincidence or is it a continuation of dominance over the Executive Branch since 1976? (For important background, read The Trilateral Commission: Usurping Sovereignty.) * Secretary of Treasury, Tim Geithner * Ambassador to the United Nations, Susan Rice * National Security Advisor, Gen. James L. Jones * Deputy National Security Advisor, Thomas Donilon * Chairman, Economic Recovery Committee, Paul Volker * Director of National Intelligence, Admiral Dennis C. Blair * Assistant Secretary of State, Asia & Pacific, Kurt M. Campbell * Deputy Secretary of State, James Steinberg * State Department, Special Envoy, Richard Haass * State Department, Special Envoy, Dennis Ross * State Department, Special Envoy, Richard Holbrooke There are many other incidental links to the Trilateral Commission, for instance, Secretary of State Hillary Clinton is married to Commission member William Jefferson Clinton. Geithner's i
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POPSRaising Taxes They don't get it. . . History has proven, to increase revenues you lower taxes. Raising taxes now, what a great way to continue the recession.
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POPSThe CEO Hostage Crisis At Bank of America BofA officials tell me that the SEIU agitation took off after Lewis refused a sit-down with the union's leaders. "We think Ken Lewis is bad for the company and the economy, and we also think that as long as you have a system where workers can't speak out, you can't fix the economy," said Stephen Lerner, an SEIU assistant president. Somehow, it's a little difficult to believe that the SEIU's main goal is the recovery of the financial system. A BofA spokesman says, "We think Bank of America is a model employer, and we don't see any advantage of associates being represented by a third party." The feds, that is, have de-facto control of the bank (as they do of Citigroup and much of the rest of the industry). And that control is being exercised by the Obama administration -- the most union-friendly in decades. The SEIU alone spent $60 million to elect this president. But so far the union doesn't have much to show for a return on that investment.
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POPSChinese Premier Wen Jiabao Is Worried About US Debt? As North Korea shakes the nuclear sabre, Iran threatens Israel's existence and the modern world cowers before medieval Islamists, what leverage do we have to gain China's cooperation? None, of course. Instead, China has all the leverage to make us bend to their will. What other choice do we have but to obey our new master? Thousands of years ago, a wise man wrote that "the borrower is the slave of the lender." Anyone who has racked up debts understands this concept all too well. When your money belongs to someone else, they get to tell you what to do. When Treasury Secretary/Tax Cheat Tim Geithner reassured a Chinese audience that their "investments" in America were safe, they laughed in his face. Before long, our new master will notice the whip he's been handed and the laughter will stop. The world is about to get a lot more dangerous.
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POPSDocuments Detail Historic Treasury/Bankers Meeting
# "CEO Talking Points" used by former Treasury Secretary Hank Paulson confirming that the nine bank CEOs present at the October 13 meeting had no choice but to accede to the government's demands for equity stakes and the resulting government control. # "Major Financial Institution Participation Commitments" signed by the nine bankers on October 13. The CEOs not only hand wrote their institution's names but also hand wrote multi-billion dollar amounts of "preferred shares" to be issued to the government. # Email documenting that, on the very day of the meeting, the Chief of Staff to the Treasury Secretary and other top Treasury staff did not know the names of any of the banks that would be in attendance. # Email showing Treasury officials wanted to use the Secret Service to help keep the press away from the CEOs arriving at the meeting. # Email showing a public relations effort, run in part out of the Bush White House, to tamp down public concerns about "nationalizing the banks."
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POPSFederal Govt Executed a Hostile Buy In? Correct me if I'm wrong, but isn’t this the same tactics used by a certain criminal organization when someone came to them asking for money to bail themselves out of a tough financial situation? And weren't they prosecuted for it?
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POPSBilderbergers Set To Meet - Beware! The recent monetary “collapse” will most likely lead to the Bilderberg group one government, one monetary system agenda. Tim Geithner, Treasury Secretary, recently announced while addressing the Council on Foreign Relations that he supported a proposal to replace the dollar as the world's reserve currency with a composite of currencies that would be managed by the International Monetary Fund. Although both he and President Obama say they are opposed to the idea, he stated, “We're actually quite open to that.” As always, we will not hear much of what these elitists decide, but, unfortunately, we will experience in the future.
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POPSTop Senate Democrat: "Bankers Own Congress" Goldman Sachs in particular, with which there is a revolving door between itself and the Treasury. Yet, as Greenwald points out, the MSM is absolutely silent about this obvious but unreported story, and this is why: One might think it would be a big news story for the second most-powerful member of the U.S. Senate to baldly state that the Congress is "owned" by the bankers who spawned the financial crisis and continue to dictate the government's actions. But it won't be. The leading members of the media work for the very corporations that benefit most from this process.
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POPSNeil Barofsky ~ Bailout Cop Busy on the Beat Barofsky, in the interview, insisted his goal is to inform the public that someone is minding the store and that bailout programs are not a "black hole." "It's not trillions of dollars going out the door without anyone keeping tabs on it," said Barofsky, who will testify before Congress on Thursday about his findings. As an inspector general, Barofsky has legal firepower. He can use subpoenas to compel disclosure and is tasked by federal law to track the details of how banks are spending taxpayer dollars. Barofsky, appointed by then-President Bush last November, has so far hired 35 members of a staff he expects to grow to 150. Currently working out of the main Treasury compound next to the White House, Barofsky and his staff are securing their own offices in the same building in downtown Washington that houses the Treasury staffers that administer TARP.
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POPSCongress Should Wear T-Shirts With Endorsements With Congress pounding away at Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke for more transparency, and New York Attorney General Andrew Cuomo threatening to release the names of the AIG bonus recipients -- an invasion of privacy that has no relevance to anything -- isn’t it time Congress let a little sun shine in?
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POPSRules For Democrats Are Just Different… For Some Reason What happens if the Democrat President nominates you for Treasury Secretary (the guy in charge of the IRS), and you get caught not paying your taxes? You get confirmed, and your power is continually expanded. What happens if you’re the Democrat Governor of Kansas, and you get caught cheating on your taxes? You get named to be Secretary of Health and Human Services. What happens if the adult daughter of the Democrat vice president is videotaped snorting coke, or the adult son of a Democrat Vice president is busted for drug possession? The MSM suddenly decide that the “children” of politicians are off-limits. Sorry, Bristol, Jenna, and Barbara.
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POPSAnother One of Obama's Lunatic Ideas The man has only been in office for a little over two months and he's already signed the Largest spending bills in the history of our Country. Now that Obama has bought the Auto Industry, with Our Money, he's decided who should run it as well, so he basically fired GM CEO Rick Wagoner last week. Has the President of the United States ever fired an employee of Private Company before? Sounds like another Historical Moment in the Barack H. Obama Presidency... After hearing about Obama's successful power grab, Barney Frank (D-MA) made a grab of his own and passed a bill through his committee that would allow the government to set the salaries of all employees of companies receiving federal funds. And when I say Government, I mean Turbo-Tax Tim Geithner. I bet those secretaries and single moms who work at AIG were Really overpaid, so I'm sure they'll still be "Well to Do".
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POPSBubble, Bubble, Toil and Trouble Warns "Friends of The Earth" A cap-and-trade plan would create a huge new market in emissions permits at a time when Wall Street and Washington have their hands full figuring out how to police existing markets. One key element in all the climate proposals floated so far is the use of “offsets,” or the ability to purchase emissions reductions made somewhere else. As Friends of the Earth says in a new report, “Subprime Carbon”: Given the lack of proven mechanisms to govern commodities, it is imprudent to so hastily create the largest derivatives market in the world and foist it upon a new and untested regulatory regime. One possible side effect of the financial-market fallout and concerns about more toxic assets? Growing support for a straight carbon tax, rather than a complicated cap-and-trade plan.
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POPSAre Banks Really Profitable? Maybe the reportedly strong January and February at Citi, BofA and JPMorgan was really just massively large profits from AIG trading positions being unwound, a columnist says. http://tinyurl.com/cfunfv
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