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View Diary: You owe $52,966.00 part Two (40 comments)

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  •  Yeah, tax giveaways just kill the Middle Class. (6+ / 0-)

    Remember who the real enemy is....

    We've been hit repeatedly with tax giveaways to the .01%. The list is short and sweet:

    -- Reagan's two tax giveaways mainly helped the top 2%.
    -- Clinton halved the capital gains tax from 30% to 15%.
    -- Clinton signed the "carry interest" abomination that allows 100% of fees from investment advisor contracts to be taxed as capital gains (not just the appreciation.)
    -- Bush had two tax rate giveaways that mainly helped the top 2%.

    That's more than half of the income redistribution. There is one more 800-pounder:

    -- The Fed is pumping out $85,000,000,000 a month to the big banks.

    That starts with Treasury bonds and goes to cash in the tills with "quantitative easing" and no restriction of performance standards. (You own or operate a big bank ??? Neither do I.)

    External damage:

    -- China has 350,000,000 "Long Distance Commuters." These are adults who have been forced by changes to  pricing policies for staples to leave their families and go to virtual prisons to keep everyone fed.
    -- They get between $1.50 and $3.50 an hour.
    -- These 700,000,000 busy hands are applied at the coastal export platforms. Quality of life... from Hell.
    -- Local projects, infrastructure, education are slighted. So of course China has a remarkable competitive advantage in world manufacturing markets.

    Similar situation to England during the first Industrial Revolution. The bottom third lived like dogs.

    Also, while we're at it for the 800-pound gorillas, why did Democrats just save the Republican Party from Teabagger suicide ?

    -- The Bircher Wing of the GOP is committed to vastly unpopular government shutdowns.
    -- The loons have been promising to make every budget milepost a voter-screwing disaster.

    The GOP was looking to set to ride teabagger theatrics to a 40- or 50-seat loss in the House come 2014.

    So WTF? Democrats save these holes from cratering with the 2-year budget deal and get nothing for their constituents.

    No unemployment benefits. No rise to the minimum wage. No reductions to the military and intel. Nothing for reproductive protections. Nothing to limit NSA. Nothing to tighten restraints on the JPMC/Goldmans of the world. Nothing to halt or reverse the giveaways. Upward redistribution continues apace.

    Remember who the real enemy is................

    •  waterstreet2013 (1+ / 0-)
      Recommended by:
      waterstreet2013

      My banker friend feels we let Republicans walk all over us.
      We got Obama elected,now take that energy in 2014.
      We will need it.I called him and he read your message,he has a degree from Harvard,He agrees with your every word.
      Mike

      Social activist, nutrition and exercise advice,long distance runner, Writer.

      by Vet63 on Mon Dec 16, 2013 at 06:30:17 AM PST

      [ Parent ]

      •  This is straight line economic history (1+ / 0-)
        Recommended by:
        Vet63

        and the part of macroeconomics related to banking. What should be text book items. Nothing you won't get reading the national accounts data from published sources, largely the Federal Reserve.

        What the Chinese communists have done to their working class people should be obvious to everyone. Pretty much, they starved 350,000,000 of them into slavery.

        The mystery is why Democrats just saved the GOP from destruction. The country was not going to get hurt by GOP craziness -- not bad anyway. Why on earth?

    •  What percentage of our tax dollars (2+ / 0-)
      Recommended by:
      waterstreet2013, Vet63

      go directly to multinational banks? the Saudi royal family? The Dutch royal family? Yet, it's not even in the discussion to end those subsidies.

      I'm living in America, and in America you're on your own. America's not a country. It's just a business.

      by CFAmick on Mon Dec 16, 2013 at 07:46:23 AM PST

      [ Parent ]

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