The first day of the rest of our lives starts today in Wisconsin, voters will decide whether America is a country that wants to make life better for the middle class or extremely better for the ungodly greedy. Like most choice you can not choose all of the above you must decide how the economic pie will be cut. The pie can be cut 50/50 or 5/95 or anything in between. The middle class is responsible for producing the economic pie, all wealth is ultimately generated from labor, but the parasites siphon off most of the economic pie for themselves through political power and money driven corruption. Money is simply absolute power and absolute power corrupts absolutely.
The richest woman in Wisconsin, billionaire Diane Hendricks paid not one cent in Wisconsin income tax, unlike the vast majority of Wisconsin residents. Hendricks to show her appreciation to Scott Walker for making her and other billionaires exempt from paying taxes on their excessive wealth, she wrote Walker a $500,000 check to buy the recall the election. Would not Wisconsin be better of if Hendricks paid the $500,000 in taxes instead of buying $500,000 in political ads for Walker? When you look at the massive political contributions to Walker by the political “donor class” you have to realize that money is not the problem the ungodly greedy have absolutely no problem spending millions in political contributions which could be as easily spent for taxes. A dollar is a dollar whether it is spent to buy a politician or spent for taxes.
Since the ungodly resent paying taxes so much but love making political bribes the obvious solution would be to tax campaign contributions. Billionaire Dianne Hendricks beat the system by paying no Wisconsin income tax in 2010 but if we taxed her $500,000 political contribution she would have to pay a tax placed on her political contribution. A political contribution tax would have to be paid at the time a political contribution was made when Hendricks wrote a $500,000 check to Walker she would have to write a matching $500,000 check to the state of Wisconsin and course the Federal should also impose a political contribution tax. This would be a double edged sword because the ungodly greedy are trying to avoid taxes by bribing our politicians but if they had to pay a tax in order to bribe politician they would avoid it and maybe decide to pay their share of tax instead of bribing politicians to make them tax exempt. Does anyone believe that a billionaire fair share is zero? This is what bribed politicians believe is fair you would be surprised how fast a ½ million campaign contribution can change your mind.
Since Hendricks can’t pay any less taxes than zero just what is she purchasing? Walker has is selling her is a right to work state where Hendricks can exploit her employees. This isn’t just about public sector unions the Walkers next offensive will be launched against private sector unions. The middle class has lost ground for the last 40 years, the years conservatives held power, now a working couple works 32 more hours a week and makes less than their father did as a single bread winner but this was not enough for those like Dianne Hendricks she wants more, she doesn’t want to be a billionaire she wants to be a trillionaire and she will get there by stealing from her employees with Walkers help.
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Zardoz
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Wed 6 Jun, 2012 05:37 am
It is a black day in Wisconsin and across the rest of the country Scott Walker won the recall election by 7 points. The damage to Wisconsin and the rest America will reverberate through out America for 30 years as did the damage did that Reagan caused. The vast majority of American gets a reminder of the damage Reagan caused every pay day when they work more and take home less than their fathers in the 70s. The commie/conservatives become more extreme and more anti middle class each year. Walker is of the example of most extreme generation of commie/conservatives to get elected. The fact that Walker was not defeated will embolden a new wave of extremist commie/conservatives across the country.
Walker bragged about balancing the budget was very much like a bank robber balancing his personal budget by robbing banks. If you have what amounts to dictatorial powers much like the bank robber with his gun to the head clerk and you say give me your money the victims have little choice. This is what Walker and his commie/conservative republican legislature established in Wisconsin. It gave Walker the absolute power of a banana republic dictator. The reason our government has been so successful is because it was designed with a balance of power so no one man would become dictator. The right to collective bargain establishes a balance of power in the market place and prevents dictators. The commie/conservatives will now simply balance budget by taking more from the school teachers and other public employees each. Budget won’t balance see what you can take from the public employees this year. Walker has already taken 20% of the take home pay by doubling the cost of insurance and raising the pension contributions 500% by next year they will cut back on wages another 10%. Believe I speck from experience I have worked under a commie/conservative administration for the last 4 years. Just like the bank robber there is no end to what they will take. But the damage Walker is in the future when the only school teacher who will work in Wisconsin is a drug addict, child molester, or drunk. Welcome to the future of America.
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Zardoz
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Thu 7 Jun, 2012 05:29 am
I tuned into a local talk show to see what their take was on the Wisconsin recall election. The radio station and many other local stations are owned by a commie/conservative senate candidate their main job is too finally get this commie/conservative from Florida elected senator. He has a vacation home in West Virginia and claims residence here to run for political office. West Virginia is the most unionized state in the country but you knew the radio station would take the anti-union stance which they did. That didn’t surprise but a local issue did. Ravenswood Aluminum, formerly Century Aluminum closed a few years ago and they are trying to reopen the plant. The plant was owned by Alcoa when I was a child. Century was a huge electric user using a $173 million worth of electric a year. When it closed Appalachian Power claimed before the Public Service Commission that when Century closed that it had to recover that $173 million from its other customers because even though it didn’t sell the electric it was the excess generating capacity that had to be compensated for. So Appalachian Electric Power or AEP had to be compensated for electric they did not produce because they had built the capacity to generate it. That resulted in two rate increases on other customers that doubled their electric in a year. Now that Century is scheduled to go to the PSC for “special rate” case where the cost of electricity would be set by the price of Aluminum at today price of aluminum Century would receive a $126 million a year in free electricity. Century bill would be shifted to other Appalachian customers every customer in WV would pay an increase of $12 a month to subsidize Century free electric and remember they had their bill doubled last year to pay for the same electric. If the price of Aluminum fell to a recent low Century would get free electricity and other customers would pay $17 a month. Of courses if Aluminum prices raised to some record price supposedly the other electric customers would receive a small rebate. This shifts Century’s business risk to other West Virginia residents.
This is a second generation commie/conservative redistribution of wealth scheme instead of companies like Boeing, Daimler Benz, and Toyota being given $500 million handouts from the government, the middle man, government would be eliminated, the redistribution of wealth would go directly to the some of the richest people on earth the share holders of Century Aluminum. The ungodly greedy own 90% of the stock and not just the ungodly greedy in America it also takes care ungodly greedy foreigners. This shows that there is no end to the ways the ungodly can fleece the middle class. With Walker reelected it is open season.
West Virginia is one of the poorest states with one of the one of highest percentages of elderly in the country. A full 25% of the residence can no longer to afford to pay the higher electric bills that were already subsidizing Appalachian (AEP) now without having to pay Century $173 million a year bill. Dose anyone really believe that AEP excess generating capacity is not being shipped out of state via the electric grid? My wife noticed that another neighbor house was dark yesterday evening and no doubt they have lost their electric. A large fire had been started overnight in the vacant field and she wondered whether the two are linked I had cut grass until 9:30 and there was no fire. I can still remember the state trooper who stood guard while the electric was disconnected from the pole next door. The family with two children went all winter without electric she was pregnant and lost the baby. They used kerosene heat and didn’t freeze to death. I have been in the homes of the elderly who have only a $400 social security check to pay their living expenses while the ungodly greedy Century stock holders will sit in their mansions and count their dividends because they are getting $173 million in “free electric” a year. My retired uncle on social security was unable to pay his electric bill out of his social security check; he is now back on the road as a long haul trucker in an effort to pay his electric bill but a multi-million corporation will get $173 million in free electric. Century electric bill has been redistributed to other customers once but once is never enough now it looks like it will be shifted again. Does anybody see a problem with the middle class paying multi-million dollars corporation’s utility bills?
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Zardoz
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Fri 8 Jun, 2012 05:36 am
The race to the bottom of the world’s food chain is underway in California as well as Wisconsin. Though the recall election in Wisconsin probably had the most national implications it almost completely eclipsed the California elections held at the same time. When California started giving seniors a $10,000 exemption on their residence it spread across the country like a tidal way. The elections held Tuesday in two California cities voted to severely cut the pensions of Police and Firefighters. In San Jose the vote carried a stipulation that if the pension “reforms” were overturned by the courts that the same amount of money would be taken from the wages of the Police and Firefighters. San Jose had already cut the wages of Police and Firefighters by 10% last year to give the city a $22 million surplus this year but project a deficit next year. San Jose also had a prevision where a 3% cost of living increase could be eliminated for 5 years if the city was in bad fiscal shape. New employees would be put in a new pension system. Employees vested in the current system would be given a choice of contribution an additional 16% of their salary into the pension or choosing another pension system.
It is said America is a nation of laws and indeed the recent Hatfield and McCoys documentary demonstrates what happens when there is no rule of law. Over the last 30 years the American pension system has been like the wild, wild, west. A generation ago a man’s word was his bond when he made a bargain he held to the bargain. If a contractor puts a roof on your house you can’t simply refuse to pay him or pay him 40% of what you agreed to pay him. He will take you to court and collect his money. If anyone could simply go back on an agreement our economy would cease to function. One of the voters in California saw nothing wrong with taking the pensions and stated loudly, “that no buddy ever gave me a pension.” To start nobody gave anybody a pension they worked decades for it and paid into it every payday. But when he started to work he had a choice and could have taken a job that provided him a pension. Those Firefighters and Police officers that took the job were offered a defined benefit pension in exchange for decades of service. That was a bargain between them and the city. The Firefighters and Policemen can not repossess their service like a bank can repossess a House. Voters would far rather spend their tax dollars on a new $60 million Super Domes than pensions.
Seventy percent of voters voted to take the pensions. America has become a nation of thieves and contrary to popular belief there is no honor among thieves.
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Zardoz
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Sat 9 Jun, 2012 11:19 am
Every time something is said about the vast an ever accelerating portion of wealth going to the ungodly greedy, which is now as bad as it was before the Great Depression, the commie/conservatives go into the same routine, “equal opportunity not equal outcomes.” But that song and dance only applies to unequal outcomes if the ungodly greedy are involved. The commie/conservatives are leading the charge in Wisconsin to take the pensions of public employees and convert them to worthless 401k type accounts. What is the commie/conservatives justification for this war on public employee pension? You got it astoundingly the commie/conservatives are complaining that the pension of public are not an equal outcome between the public sector and the private sector. But haven’t they preached all along that in fact there should only be equal opportunity not equal outcomes but that is exactly what the commie/conservatives are pushing in Wisconsin and California.
After the election to “reform” the pension system in two of California biggest cities one man loudly proclaimed to reporters “That no one gave him a pension.” No one gave the public employees a pension either they worked for it and paid into it every payday. In fact it was mandatory they had no choice. The gentleman certainly had and equal opportunity to choose to be a policeman, fireman or garbage collector but now because he did not make that choice the outcome is unequal and the voters are being ask to make the outcomes equal by the commie/conservatives. If the commie/conservatives want to dictate equal outcomes as they are in the case of public sector employees and private sector employees let’s take it a step further and dictate a national wage that no one can exceed certainly that is no different than advocating equal outcomes between private sector employees and private sector employee.
If equal outcomes are what the commie/conservatives want we should give them equal outcomes. All wages and profits would be paid to the government and divided equally among all American workers. Let not have equal outcomes for some and massively unequal out comes for others. The commie/conservatives spend most of their time making the tax code unequal so billionaire hedge fund managers pay half of the tax rate the middle class. Gee another unequal outcome the commie/conservatives are in favor of.
Everyone knows that wages are not the only form of compensation when you choose a job. Fringe benefits are worth more than wages because they are untaxed but the commie/conservatives proposed taxing your health insurance as income. Anyone considering a job should consider the total compensation package including benefits. When I took the job at the city mechanics at the car dealer ships made three times as much but had few benefits and no union. If the commie/conservatives really want equal outcomes the total amount of wages and benefits must be added up over a lifetime not just at the time the pension are to be paid.
But the commie/conservative thieves are only interest in stealing more from the middle class. If they can convert lifetime pensions into 401 Ks they will save money and give dream tax cuts to the ungodly greedy but don’t ever bring up that that is an unequal outcome. Equal opportunity not equal outcomes are on case by case bases it seems.
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Zardoz
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Sun 10 Jun, 2012 06:29 am
The commie/conservatives are not smart enough to know they are headed toward a slippery slope with their latest gambit of equal outcomes for public sector employees verses private sector employees. The commie/conservatives have always religiously held to the position that there should be equal opportunities not equal outcomes to justify the ever widening government driven redistribution of wealth to the ungodly greedy in America. The recent Reason-Rupe Survey, a push poll, by a radical right polling organizations which intent is more about molding public opinion than measuring it ran a survey on various aspects of public employees compensation including converting defined benefit pension system into 401(k) style accounts. The 401(k) style accounts were touted by the commie/conservatives and the ungodly greedy as the new and improved retirement system that would replace the current pension system. The commie/conservatives promised that everyone would be a millionaire with the new miracle retirement plans. Thirty years after the introduction of the 401(k) the first 401(k) generation is now retiring with an average of $50,000 in their account enough to buy an annuity that will provide only $300 dollars per month for life compared with $2,500 a month for life in a typical defined benefit pension plan. The 401(k) plans are not only a disappointment but a dismal failure. Of course there will always be occasion lottery winner who bought the right stock at the right time and sold it at the right but they are the exceptions not the rule, the lottery winners. But if indeed someone did make a million with their 401(k) should not that be divided among the rest who lost money on their 401(k) according to the commie/conservative theory that private sector retirements should be equal to public sector retirements? I in fact had a Roth Account the about the same as a 401(k) except the taxes are paid up front. Between the outrageous service charges and the outright fraud and incompetent national stock brokerage firm every cent of the original investment was lost or consumed by the broker.
The “poll” found that 50% of Americans believe that public employees had better benefits than private sectors employees. A statement that might hold some truth in some cases the public sector was seldom flush with cash and in order to get and hold good employees they gave better benefits to compete in the labor market. Another sick day a month was offered instead of a raise when there was no money. After Reagan cut the Federal Revenue Sharing the city of Huntington lost 25% of its budget there were no raises for the 8 years he was in office. My wife who worked for a national department store received a raise every one of those years. And after baby Bush drove the economy over a cliff there has been no raise since 2007 and none in sight. In effect public employees were given benefits instead of raises but now when it comes time to reach for the chips the commie/conservatives want to cut their hands off at their wrist because it is unfair to have unequal outcomes.
My sister has a friend that works at a bank and his bonus last year was a $100,000 not including his salary. To a commie/conservative they see nothing wrong with that after all the public employees benefits are paid by taxpayers but aren’t the bankers salary paid by bank customers aren’t they in fact the same people?
The Reason-Rupe “poll” found that 79% of the people favored raising the retirement age to 60 years old. Does anyone really believe a 60 year old cop could run down a 23 year old criminal? Or a 60 year old firefighter carry a 200lb woman from a burning building? Even a 60 year old garbage collector may have had his hips or knee joints replaced. Early social security is justified because some people start to work right out of high school while others don’t join the labor force until after 4 years of college or even 8 years in some cases for doctors. At age 60 some people have already worked 8 years longer than others. The commie/conservatives again want equal outcomes by age not equal outcomes based on number of years worked.
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Zardoz
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Mon 11 Jun, 2012 05:34 am
A recent Reason-Rupe Poll found that how a question was worded changed he outcome of a poll. For instance when most people were asked if they opposed or supported reducing collective bargaining rights for public employees unions, 52% were opposed. The other half of the sample was asked if they supported or opposed limiting collective bargaining for public employees, and 51% were in favor. The word “rights” presupposed the answer to the question.
Later in the survey people were asked a sample of Wisconsin voters whether they favored 401(k) style accounts for new public employees. The result showed that 69% in fact favored 401(k) style accounts for new public employees instead of defined benefit pensions. But in this case make the 401(k) predisposes the answer in the survey. The 401(k) is associated with a saving account even 53% of public employees favored 401(k) accounts for new employees which indicates they can’t tell which is more $50,000 or $350,000. But if you ask the employees what would you chose $50,000 401(k) (the actual average 401(k)) or $350,000 defined benefit pension do you think the result would be the same? Given a choice of choosing for your child future which would you chose? Do unto others as you would have them do to you. Is that what is going on in America? Right now the next generation is being robbed blind to give to the ungodly greedy. If Scott Walker can take a decent and fair retirement from the next generation he can give more to his $500,000 campaign contribution to his billionaire friend plus a handsome return on her investment. The commie/conservatives have put race to the bottom of the food chain in full swing in America.
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Zardoz
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Tue 12 Jun, 2012 05:32 am
Reason and Rupe headline that echoes the recent vote in California San Diego and blares: “Wisconsin: 69% Favor 401(k) Style Accounts for Government Workers.” The particular poll was for new employees, the next generation, our children; it is so much easier to cheat the ones who are not able to fight back. This of course has been a practice for the last twenty years or so to cheat the incoming employees out of wages or benefits even though they will be doing the same jobs. My mother retired from a very prosperous local hospital with a defined benefit pension. Her pension is not large because the hospital did not begin the pension into late in her career but still it provides a steady income. I can remember how tiny the hospital was when I was child now after unending expansions it is a massive complex that serves patients from a 100 mile radius. My daughter now works for the same hospital and the defined benefit pension was eliminated for new employees, contributions to defined benefits pensions are mandatory but contributions to 401(k) style accounts are voluntary. The result is many of the employees opt out and pay nothing toward their retirement. This is a tremendous saving for the hospital as most employees simply opted out. Profits in the medical industry are massive even for non-profits which though the corporations shows no profit the administrators are able to bleed the hospital for salaries many 100s of time the employees. I had not known that my daughter opted out and at half her working life has not put a penny toward her retirement. Starting out a young person needs every penny when my daughter took the job she was recently divorced and struggling to pay medical insurance. It is very easy to opt out and hospital administrators grins all the way to the bank.
In The Reason-Rupe poll 84% of the republicans were in favor of cheating their own children out of a decent retirement so they could put another nickel in their own pocket today, what low lifes but after all this is what commie/conservatism is all about, predator economics. In predator economics the strong are justified in taking from those who are less politically powerful who are less politically powerful than the children just starting out. Even seventy percent of the independents were in favor of taking their children’s pensions so they could have a few pennies more in their own pocket but the most surprising was that 54% of Wisconsin democrats were in favor of enriching themselves by taking from their own children. This show how radical a basic character shift has taken place in America since Reagan’s eliminations the Fairness Doctrine created the red neck right propaganda network. Americans had always wanted to see their children do better than they did now many Americans if not a majority are quite willing to cannibalize their children’s future security for a few pennies for themselves.
The baby boomer generation was indeed pampered and had things their parents could only imagine but it seeded an attitude of self importance that is being exploited by the commie/conservatives today. Every one has their Achilles’ heel and this generation was use to being the center of attention often their parents did without so they could have more, so they could have what their peers did. Who is responsible for killing the same character traits in the baby boomer generation? The root cause is the hard core America communists who founded the Modern Conservative Movement, they poisoned the water with their political philosophy, like a virus it spread across America killing whatever was good in us.
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Zardoz
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Wed 13 Jun, 2012 05:33 am
When the Reason-Rupe Poll asked whether Wisconsin residents whether they favored changing new Wisconsin Public Employees to 401(k) style pensions 69% agreed but when the poll was broken down into education levels it revealed some interesting difference. Seventy- one percent of those with a high school education or less were in favor adopting the 401(k) style pensions and only 25% opposed adopting the 401(k) style pensions for newly hired teachers and other public employees but only 51% of those with Post Graduate Degree agreed and 40% were outright opposed. This may reflect that those with a post graduate were far more familiar with the actual monetary differences between the pension verses the modified saving accounts referred to as 401(k) accounts.
The 401(k) style account shifts not only the risk of investment but the service charges to the employee. Usually the employee is given a superficial choice of how his money is invested by giving him a few alternative investments but is not usually given a choice of brokers. The broker can charge each and every employee a service fee as opposed as to one service fee charged to a pension system. Typically a person with $200 invested in a stock pays the same service fee as someone with $10 million invested so individual retirements accounts produce huge wind fall profits for stock brokers. This is another huge redistribution of wealth labor creates the wealth but the parasites are waiting in the wings. Baby Bush intended to convert social security into individual accounts there was a huge building boom of brokerage firms when this proposal was being floated by baby Bush. The stock brokers could hardly wait to get “their cut of 100s of billions of dollars of social security.” Thank heavens baby Bush and the commie/conservatives were stopped in their tracks. But what you can’t do all at once you can do a little at a time city by city, state by state. The unspoken motto of most stock brokers is: the suckers are out there if they won’t come to us we will change the law till they have no choice.”
Stock brokers lose money by the millions but like conmen they try to convince you they are not stealing you blind. If you had a $6,000 account and the broker lost all but one dollar of the account last year and your account made a dollar the next year he will send you a statement saying you made a 100% on your account not bad for a $5,998 loss of investment.
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Zardoz
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Thu 14 Jun, 2012 05:33 am
If you wanted to make the distribution of wealth even worse in America how would you go about it? In his book “Unequal Democracy” by Larry Bartels who in fact voted for Ronald Reagan in 1984, Bartels tells us the best way to insure that wealth distribution gets worse America is vote Republican. Bartels is a political scientist who studied the effect of distribution of wealth between 1948-2005, from Truman to Clinton and from Eisenhower to baby Bush. Bartels studied the effects on distribution of wealth on each presidential administration the results were both shocking and undeniable over the last 50 years each time a republican was elected president the distribution of wealth in America got worse and each time an democrat was elected president the distribution of wealth got better with one exception Jimmy Carter. The statistics are factual numbers that cannot be spun or denied that is why you will never hear these statistics being discussed on red neck right radio by Glen Beck or Rush Slimbaugh they can’t dismiss them or explain them away so they won’t mention them.
The distribution of wealth in America is now equal to the worst distribution of wealth in history, the distribution of wealth that sparked and fed the fire of the Great Depression. If Eisenhower, Nixon, Ford, Reagan, Bush I and baby Bush democratic opponents had been elected the distribution of wealth in America would be far different today and America would be a different place. What can’t be denied is that in fact government policies have been responsible for the Great Divergence of wealth in America. Our commie/conservatives have long held to the position that in fact government is responsible for the distribution of wealth in America, they call it redistribution of wealth but when the distribution of wealth is studied it is shown beyond any and all doubt that that massive tectonic shift in wealth has occurred. But the wealth has not shifted downward but upward. The commie/conservatives assure us that they have not fixed the game but each time they get in the Whitehouse the fix becomes worse. Most of us know you can’t win in a fixed card game and have to realize that the game of life can be fixed. Politicians can be bribed, money talks and the moral character of America has been under unending assault by the commie/conservatives for more than a half century. The hard core communist intellectuals, like Frank Meyer (the father of Modern Conservatism) and Whitaker Chambers (Communist and Nazi spymaster) that are responsible for founding founded the Modern Conservative Movement, hated America with a lifelong hate of the American way. Is it any wonder that every time a president that follows those communists philosophy gets in the Whitehouse middle class Americans loses ground?
Most of us have no trouble understanding that when Whitaker Chambers was handing over top secret plans of our battle ships to the Nazis and communists prior to WWII that he did not have America best interest at heart. Chambers was a traitor that was responsible for the deaths of thousands of Americans. But that communist spy Chambers is worshiped by the right and he was made a National Hero by Reagan. Chambers never served a day a single day in jail even though he testified in court to the details of his spying on America for the communists. He did not have America’s best interests at heart then why would anyone follow a political philosophy he helped create today?
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Zardoz
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Fri 15 Jun, 2012 09:36 am
Follow the money things will happen very quickly now. There are those who figured they were safe because they did not live in Wisconsin but they too will reap the whirlwind. That commie/conservative Scott Walker is now giving advice to Romney:
“At both venues, Walker offered a similar bit of advice to Romney, urging him to go beyond criticizing President Barack Obama and lay out a clearer, bolder plan for tackling the nation’s fiscal problems. Voters will reward politicians who are "willing to stick their necks out a little.”
Scott Walker the week after his recall election victory
What was Walkers bold plan? It was to take from the middle class and give to his billionaire buddies. If that sounds familiar it should that was Reagan plan also he increased social security tax four times during his term in office and used the windfall to finance a 60% tax for the ungodly greedy. The 60% tax cut for the ungodly greedy would simply not have been possible without the hikes in social security tax which was plowed into the general fund budget. When a commie/conservatives like Walker advices Romney to “lay out a clear, bolder plan for tackling the nation’ fiscal problems.” Do you think a) the ungodly greedy better hold onto their wallets or b) the middle class will have to foot the bill for tackling the “nation’s fiscal problems. If you followed what actually happened in Wisconsin you know that a multi-billionaire commie/conservative paid not one dime in Wisconsin state taxes but however she did give Walker $500,000 “campaign” contribution. The commie/conservatives don’t believe in shared sacrifices to get the fiscal problems in order in they believe that it is the soul responsibility of the middle class and should be borne by the middle. Meanwhile after 30 years of tax cuts for the ungodly greedy Walker continued to cut the taxes on the ungodly greedy.
If Romney adopts Walker political philosophy and gangster methods the American pension will be a thing of the past. When 84% of republicans agree they want to eliminate the pensions for new public employees it eliminates the funding that makes the current retirees these pension possible. Only the contributions of current and new employees make the pension viable, retirees no longer contribute to the pension system. Eliminate the feeder stream and the lake goes dry. The first step in eliminating any pension system is to strangle the system by cutting off new employees. This was baby Bush plan to strangle social security by eliminate its funding source they could “drown it in the bathtub” like Grover Norquist wanted to.
Most people don’t realize the commie/conservative presidents have been eliminating defined benefit pension system on an individual bases for years. A law gives the president the power to convert a pension system into individual saving accounts If you were a big corporation that made big political bribes sometimes referred as “campaign contributions” to a commie/conservative president you could simply petition the president to close out your defined benefit pension plan and convert it to a 401(k) style saving account. Older employees got a small fraction of what they would have under the defined benefit pension plan. When the older employees complained that they were cheated out of 90% of their pension they were reminded that the president of the United States had personally made the decision. Romney can simply eliminate the remaining defined pension systems by presidential order. If Romney is elected watch the money change hands it will be fast furious and it will be the biggest redistribution of wealth in the history of the United States because the pension system holds the largest portion of middle class wealth.
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Zardoz
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Sun 17 Jun, 2012 09:07 am
Willie Sutton, a famous bank robber, was once asked why he robbed banks? He replied, “That is where the money is.” That is simple logic; robbing lemonade stands would not be very profitable. The greedy bastards targeted the pension system for the same reason, “That is where the money is.” Of course the greedy bastards did not walk in with Thompson submachine guns like Bonnie and Clyde but their weapon political power was much more effective. Reagan who was running around like the sky was falling declaring social security was under funded raised social security withholdings four times during his term and office and raised the retirement age to 67 on many baby boomers. But at the same time declared that private pensions systems were over funded, even though they both faced the same problem, the baby boomers retirement. If social security faced a problem with too many retirements of baby boomers than private pensions would face the same problem. All the extra social trust fund money that was paid because of the four Reagan raises in social security tax was quickly exchanged for United States Treasury Bonds and the actual money used to pay for the tax cuts for the ungodly greedy. Now the time has come to pay the piper social security is no longer taking in a surplus in fact to pay current retirees it will take all of the social security tax paid plus some of the interest off of the social security trust fund. Soon it will take all of the money paid into social security plus the interest and some of the social security trust fund. That means government has to come up with $1.2 trillion in cash to pay the baby boomers social security. This simply can’t be done without raising taxes on the ungodly greedy. The alternative is to cheat the baby boomers out of their social security.
How could this generation stand by and watch the ungodly greedy steal them blind. If the pensioner had the $350,000 in their possession in their house and thieves like Romney and his friends showed up on their door step to steal it they would fight like hell and shoot them if necessary. The trouble is that possession is said to be 9/10 of the law when Bain Capital bought a company it was Romney and Bain Capital that had possession of pension fund. Bain Capital could seize the pension fund the employees paid into for 30 years for “management fees” and the courts would back them up. Now this thief has the nerve to run for president. You can shoot the thief on your door step but you can’t shoot a company that is backed up by the courts.
I talked to a retiree from Ashland Oil last week and he told me even though Marathon Oil bought Ashland Oil, Marathon best lawyers had been unable to rip the Ashland Oil employees pension fund off evidently the language that created the Ashland Oil pension plan in 1937 was so iron clad even the best of Marathon’s lawyers can’t rip it off. The employee was told that who ever drew up Ashland Pension plan was extremely bright. It nice to know that at least some pension plans are safe from the Romneys of the world.
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Zardoz
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Mon 18 Jun, 2012 05:33 am
As mention before the distribution of wealth got worse in America during every Republican presidential administration from Eisenhower to baby Bush and got more equal during every democratic administration with the exception of Jimmy Carter administration. Why did the distribution of wealth get worse during the Carter Administration? The Carter administration saw the development of professional lobbyists businessmen had been reactive up to this time trying to kill legislation that they viewed as harmful but they were not content to stay on the sidelines. Why stay on the sidelines when they could become a player no longer content with just veto power the businessmen began to write their own laws and have them introduced into the legislature by friendly politicians. What would a businessman write into law if indeed he wrote the law? Businessmen would write more inequity of wealth into law if given the chance and this is exactly what they did. The taxes on capital gains was cut radically the law was passed almost word for word as it was written by the business lobbyists. Of course this law was passed during the Reagan Administration even though it was written during Carter’s term.
I watched the Romney interview on CBS yesterday and of course Romney was just to busy to be bothered by doing the show so he was interviewed while he was on the campaign trail in small town America. Romney was not campaigning on his jet plane he wanted to show Americans he was just an everyday man in his half million dollar campaign bus. Romney said he doesn’t want to cut the taxes on just the rich he wants to cut taxes across the board like baby Bush did. He wants to make sure the ungodly greedy pay the same percentage of the total taxes they pay now. In other words Romney counts like Bush a $10 million tax cut for himself and a $10 cut in taxes for you. What can possibly be more fair than that the percentage will be the same only the dollars will be different. The commie/conservatives have cut taxes for the last 30 years and have said every time that the tax cuts would take us to the promised land. But we continue to wander in the desert while they get richer than Kings. How’s this for fair if America can indeed afford a tax cut then raise the amount of money exempt from income tax. This way the tax cut would be equal in dollars instead of percentage. If Romney first $30,000 in income was exempt and my first $30,000 was exempt there would be dollar per dollar equity instead of percentage equity where Romney would save $10 million and I would save $10 in the Romney tax cut. Under Obama each family got a $3,200 tax cut that will be repealed under Romney and replaced a $10 million dollar cut for Romney and friends and $10 for your family. Think it can’t happen? You need look no further back than baby Bush.
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Zardoz
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Tue 19 Jun, 2012 05:31 am
On Saturday mornings there use to be a feature called “Schoolhouse Rock” one episode was called “How a Bill Becomes a Law.” In the cartoon version a bunch of people got to together and called their congressman to tell him there ought to be a law. The congressman promptly begins to type up a “Bill.” The problem was that by the time that cartoon was being broadcast on TV it was no longer true because the folks back home were highly paid business lobbyists who didn’t call their congressmen but delivered as a fully written bill along with large campaign contributions. By the 80s laws were being written by the business lobby and passed pretty much as the business lobby wrote them.
This is one of the main forces driving the vast inequality of wealth in America. Businessmen are always running around raving about the capitalist system but at the same time they have their hand out for government handouts and the handouts are as large as $500 million dollars. Amazon a large multi-million dollar corporation located a calling center in Huntington. The city of Huntington not only spent millions remodeling a building for Amazon but also bough all the company’s furniture and computers. Amazon has been invoicing the city for transportation for Amazon employees. It seems the city is paying thousands a month for bus rides for the Amazon employees. But remember this is not socialism this is capitalism because even after the government hands out $500 million in taxpayer money the business is still privately owned. Let’s face it in America there is no such thing as capitalism, there has not been in a long time, what we have is modified socialism where the taxpayer subsidizes the business community but the profits still go to the ungodly greedy even though there would be no profits if the taxpayer subsidies were paid back. This is another direct redistribution of wealth.
Imagine if you wanted to go into business and the taxpayers paid millions to remodel a building to your specifications then bought all of your equipment and furniture. Next they paid for your employee’s transportation back and forth to work. You than would agree to pay a nominal “rent.” Would you not sing the praises of “Capitalism” “the free enterprise system?” After all you made $100s of millions at taxpayer expense in similar deals all over the country. Capitalism, a term just coined in the middle of the 19th century, is defined as the private ownership of the means of production and distribution. When the taxpayers gave Boeing $500 million is Boeing still the owner? We have to say “give” because we can’t say the taxpayers “invested” $500 million in Boeing because the taxpayers got no return on the $500 million and certainly will never see their $500 million again but the ungodly greedy owners saw their stock prices soar before they cashed in on the taxpayers $500 million investment. The commie/conservatives worship the term capitalism like it was the “Sun God” but the term capitalism certainly has nothing to do with the founding of America as the term “capitalism” didn’t even come into existence until a half century after America was born. The term is so broad you could fly a Boeing 727 through it and never touch either side. Capitalism is just the word being used to justify the ongoing redistribution of wealth in America.
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Zardoz
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Wed 20 Jun, 2012 05:33 am
“The more things change the more they remain the same.” That certainly is the case with the commie/conservative political agenda, Reagan gave us “Trickle Down Economics” where the government is the active agent in redistribution the wealth of America into the hands of the ungodly greedy once the wealth of America has been put in the hands of the ungodly greedy Reagan said it would “Trickle Down” on the rest of us sort of siphon effect where gas is pulled up out of a gas tank and flows down into the gas can. It has been thirty years since that conmen Reagan sold that lie to the American people and we are still waiting for the “Trickle Down” to come trickling down. If Reagan theory had been correct the middle class would be better off today than they were 30 years ago. Luckily for us there are cold hard statistics that can’t be spun by the best red neck right radio host, after the wealth was redirected upward by Reagan the unequal distribution of wealth in America radically accelerated but 30 years later we are still looking for the “Trickle Down” effect to happen. The top 1% had 10% share of America wealth for most of the years since WWII but when Reagan started his “Trickle Down” economic policy the top 1% share of the wealth skyrocketed. The top 1% share of wealth was 12% by 1984, by 1994 it stood at 14% and by 2004 it stood at 20% by 2008 it was 21%. In 28 years the 1% share of the wealth had increased by an amazing 110%. Percentages are expressed as a decimal fraction of the whole in order for the top 1% percentage of America’s wealth to increase by a 110% in 28 years the percentage of wealth of other Americans had to decrease. The figures are taken from actual income tax returns, the author believes that cheating on income reporting by the “stinking rich” (author’s term) is unlikely to affect the statistics but I believe there is likely to be a significant amount of not only unreported but deferred income that would make the statistic even worse.
Romney will give us more of the same as each cut in Federal taxes is followed by a $2 raise in state and local services which are generally regressive taxes. The middle class now pays 21% of their income in all Federal, state and local taxes while the ungodly greedy pay only 17.6%. Romney will simply shift the taxes to state and local governments. Romney smaller government won’t happen it will simply be paid for by state and local governments.
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Zardoz
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Thu 21 Jun, 2012 05:33 am
First there was the Stone Age followed by the Bronze Age and then the Iron Age. Future historians will no doubt label our time as the Age of Greed, where greed became not only the primary driving force but the most admired character trait. American was born a country with an egalitarian distribution of wealth which gave it a natural economic advantage over countries with an aristocracy based on wealth. But all good things must come to an end and now America distribution of wealth is worse than almost any industrialized country in the world. By 2005 America’s top 1% held 17% of wealth ( if capital gains are excluded) if capitals gains are included America top 1% held 21% of America wealth by 2008. In 2005 only Argentina equaled that skewed distribution of wealth. By 2008 America had pulled ahead. The top 1% in Canada and England held only 14% of their country’s wealth. America distribution of wealth is getting worse and accelerating for the last year which records are available 2008.
As if the infidels had not done enough damage to America, Romney and his cohorts are beating at the gates for a chance to make the distribution of wealth much worse. Romney’s plan is to further shift the tax burden onto middle class when the federal dollars are taken from the states it doesn’t mean the needed government services are eliminated it simply means that the cost of those services are shifted to state and local governments where the taxes are the most regressive.
Commie/conservative believe that any market outcome is a just and moral outcome, that somehow the market magically transforms randomness into just and moral outcomes. Take the salaries of CEO in 1973 CEOs were paid 27 times more than their average worker but when the Age of Greed dawned in the 80s CEO’s salaries took off like a rocket and by 2005 the CEOs salaries stood at 262 time their average worker salary. That is up 235 times in 32 years. Was the 1973 outcome when CEO’s salaries stood at 27 times more than their average workers salary a moral and just market outcome? If so than the 2005 market outcome when CEO’s salaries stood at 262 times their average workers salary is neither moral nor just. Do the CEO of 2005 work 235 times more hours than the CEOs of 1973? Are the companies making 235 more profit than they did in 1973? The commie/conservative mythology of the market being a moral force is simply that a myth.
We have known for years the market is far from free and is subject manipulation but the commie/conservatives were responsible for putting the market on a pedestal and worshiping it like a the Golden Calf. Moral and just outcomes are not born of processes that are subject to manipulation.
No honest American can look at the outcome of the last 30 years and pretend that it was either just or moral and no one can believe that more of the same will be good for America or most Americans. Probably the most important thing that we can leave our children is our philosophy long after the pieces of gold we leave them are spent the philosophy we leave them will rule their lives. A philosophy of greed will not serve them and a myth of a mighty and just free market is but another golden idol.
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Zardoz
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Fri 22 Jun, 2012 05:35 am
Of course the biggest single factor in the spreading inequality of wealth in America is the government and anyone can clearly demonstrate that in cold hard facts when the middle class now pays a higher percentage of their income in taxes than Greedy Bastards when all taxes are taking into account. The commie/conservatives single out one particular tax out of hundreds but never say anything about other taxes that are regressive. Their favorite tax to belly ache about is the tax placed on “excess wealth.” They belly ache that they pay a high percentage of the tax levied on “excess wealth” when in fact they should be paying not a high percentage but 100% of the tax on excess wealth. But few people know the true history of the “income tax” and the commie/conservatives don’t want them to know.
One of the other major factors that influenced wealth inequality in America was the commie/conservative war on unions. Union employees make 30% more than nonunion employees and have better benefits. Declaring war on unions and eliminating union jobs help create more inequality in America. From Reagan’s firing of The Air Traffic Controllers to Scott Walkers eliminating collective bargaining rights for public employees the object is always the same to create more inequality. Firing the Air Traffic Controllers helped finance Reagan 70% tax cut for the ungodly greedy but not only did the scabs who took the Air Traffic Controllers make less but working conditions declined to the point Air Traffic Controllers were bringing their small children to work and letting them control the aircraft.
Yesterday the commie/conservative Supreme Court ruled that SEIU had to account to non union members it represented how every dollar of the money was spent. A union is required to represent even non union employees in bargaining unit. If a non union member is fired union resources are expended for their representation and many often get their job back as a result. I wonder if the non union employee retained a lawyer for his defense whether the lawyer would have to itemize how he spent every dollar of their client’s money. Most of the commie/conservatives members of the Supreme Court were lawyers and they would not hold themselves to the same standard. If they wanted to take their fee and make a political contribution with their client’s money the client would have no say one he paid for a service it is no longer his money.
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Zardoz
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Sat 23 Jun, 2012 12:42 pm
The Great Divergence is not taking place in other industrial countries like Canada and one of the primary reasons is that there is no ongoing war against unions in other industrialized countries. Our economy is based on a system of checks and balances. Our founding fathers realized that no men or group of men could ever break the surly bounds of self-interest completely so they divided the power not only among three branches of the Federal Government but between state and local governments as well. In the market place the power in America and other industrialized countries is divided among the business owners and the unions. Unions helped keep the salaries of CEO in check when power of the unions was decimated by Reagan and the commie/conservative hoards the average salaries of CEOs skyrocketed from 27 times the average worker to 262 times the average worker. The typical position of management at the bargain table is that the company cannot possibly afford a raise for their employees but if the union always pointed out that then the company could not possibly afford another million for the CEO’s raise either which was in fact a sound and just argument. In fact if the CEO’s million dollar raise was divided among the other workers it would make a nice raise for everyone else. This helped keep a lid on CEO’s salaries in check for years but if there is no union no one can make an actionable complaint. One CEO in a large company salary is 50% of the company’s profits.
It seems it is only America that is intent on destroy its strong middle class and replacing it with an economy that is modeled after a state lottery which will have a very few rich winners while the vast majority of losers but they should comfort themselves by saying if God had picked my number in that lottery I could have been a winner also. There is indeed strength in numbers and the ungodly greedy deeply fear that strength. Walter Reuther was beaten senseless by thugs hired by Henry Ford in during a strike to unionize Ford Motor Company. One need only look at how nonunion employees were treated by Union Carbide sub contractor at the New River Tunnel where 762 people died because of siliceous a disease that’s cause was known for 2,000 years. It is caused by breathing the silica dust while the tunnel was being built. These people didn’t die 25 years later like those with black lung, they died on the job so many died at a time there wasn’t enough space in the graveyards so the undertaker used his farm to put them in unmarked graves. Those graves were only recently discovered. If an employee sick was siliceous refused to go back in the tunnel he was beaten and forced at gun point back into the tunnel until he died. This isn’t something that happened 100 years ago this happened in 1927 in our grandfather’s time. This is what it was like to work for a non union corporation in America during the roaring 20s they owned you and your very life was theirs to do as they pleased. This no doubt is the pendulum at one extreme but it is an extreme that pendulum is moving rapidly back toward and only the unions put a stop to that type of abuse it was the strength in numbers that gave these men the courage to stand up and put a stop to it. Many say well the government would stop that today when fact the government was an active partner at Hawks Nest. Government safety and health regulations were demanded by the unions. When you hear Romney on his rant against government regulations on business you can bet the safety and health regulations are high on his list to eliminate so business can be more profitable. After all why should we have a regulation against forcing an employee into an unsafe ditch, mine or tunnel? When I hear the commie/conservatives radio hosts like Glen Beck and Rush Slimbaugh going on their rants about the evil unions I wish for one day when they could be clubbed and forced at the point of a sheriff deputy’s gun back into the Hawks Nest Tunnel as they were dying. I wonder if they would have an 11Th hour conversion.
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Zardoz
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Sun 24 Jun, 2012 09:19 am
West Virginia is the most unionized state in the union and no doubt the reason for that was abuses that were so common in coal mines and places like Hawks Nest Tunnel. Death in the coal mines was a constant companion death was sudden sometimes from a roof fall or explosion but most often it was a slow suffocation death from black lung that was most common. The deaths continue with the last greed driven disaster only a couple a years ago. If the company can just get around safety regulations they can make more money, Romney and the commie/conservatives know if they can eliminate the safety regulations business will be more profitable. If a few employees die so be it, this is the same attitude Union Carbide had if the had to buy respirators for all the employees instead just the engineers it would have been less profitable and forcing the men back in the tunnel before the silica dust settled saved time and money. And the hydro electric plant at Hawks Nest was very profitable it is still generating electricity today 85 years later.
A web site entitled WV Mine Disaster lists the deaths at each mine disaster there are 110 different mining disasters with deaths ranging from 361 in Jan 1908 to 29 deaths in April of 2010. When you have a 110 “coal mine disaster” something is wrong. Romney wants roll the clock back and eliminate regulations.
When the commie/conservatives rolled back the regulations on Wall Street disaster quickly followed in 2007 by the worst economic disaster ensued with the country within hours of complete and total collapse. Many have no idea how close they were to losing their way of life. Now the commie/conservatives that caused the 2007 collapse by deregulating Wall Street want to be put back in control.
The commie/conservative said that deregulating utility companies in California would save the customer money but an epic disaster followed as California electricity price went up five fold with continual blackouts. California became a paradise for thieves where Enron employees were recorded joking about taking the elderly customers last dime. Deregulating Wall Street was a disaster for American people and deregulation electricity in California was an absolute disaster for those in California. The Wall Street bailout would not have been needed if Wall Street had not been deregulated. No American bank would have ever been too big to fail if the regulations had not been eliminated. If Romney wants to tout deregulation as his platform then he needs to explain why when deregulation is tried it leads absolute disaster. What is different about Romney’s deregulation that was different from other recent deregulation?
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Zardoz
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Mon 25 Jun, 2012 05:32 am
Even the commie/conservative can’t deny the growing inequity in America. Since they can’t deny the growing inequality in America they can only rationalize it. The official commie/conservative position is that the growing inequality is good for America. According to the commie/conservatives inequity is responsible for trade the more unequal incomes are in America the more people will produce. Finis Welch a professor of economics at Texas A&M gave a speech at the American Economic Association annual conference called “In Defense of Inequality”
”all of economics results from inequality. Without inequality of priorities and capabilities there would be no trade, no specialization, and no surpluses produced by cooperation.”
So the path ahead for America should be paved with a growing inequality according to Finis Welch. Since America was egalitarian to begin with Professor Welch must be astounded that any trade took place in America.
Welch further said that he believed that inequality was destructive only when “the low wage citizenry view society as unfair, when it views effort as not worthwhile, when upward mobility is viewed as impossible or as so unlikely that the pursuit is not worthwhile.”
The trouble is the production of any one individual is limited by the time he has to work. Many now work a second and sometimes third job to make ends meet. My sister-in-law in her mid sixties has worked three low paying jobs to make end meets for several years. When one person holds three jobs it adds to unemployment because she has two jobs others could be working. If inequality continues to grow in America she will become more the norm and not the exception.
Michael Cembalist, chief investment officer at JP Morgan stated “Reductions in wages and benefits explain the majority of net improvements (in profits).” The reductions accounted for 75% of the improved profits between 2000-2007 business cycles.