Posted on 15th May 2015 by Administrator in Economy |Politics |Social Issues



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Posted on 10th April 2015 by Administrator in Economy |Politics |Social Issues




Posted on 30th March 2015 by Administrator in Economy |Politics |Social Issues

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Below you will find the U.S. mega-corporations who outsourced American jobs to Far East slave labor facilities where they could maximize their profits. That’s what mega-corporations do – maximize short term profits no matter the long-term consequences. That is all well and good. When these mega-corporations made these decisions, they knew the tax implications of repatriating those foreign earnings back to the U.S. – a 35% tax rate.

These fuckers can’t have it both ways. They gutted our manufacturing base and shipped it to the Far East, making hundreds of billions in the process. Their brilliant Ivy League educated MBA CEOs paid themselves hundreds of millions for a job well done. They knew the downside, but now they want their captured politician puppets in Congress to give them a tax break if they are kind enough to repatriate those hundreds of billions. They will use the cash to buy back their stock and pay their executives bonuses for successfully buying off Congress again. Our vulture capitalism system is something to behold.

According to a recent J.P. Morgan report, U.S. companies hold a combined total of more than $2 trillion in cash abroad. Among all S&P 500 companies, Apple has parked the largest amount of cash outside the U.S. by quite a margin. The iPhone maker hoards $158 billion (89 percent of its total cash) overseas. That’s almost twice as much as second-ranked Microsoft ($82.1b) and 2.5 times the total of General Electric, which is ranked third with foreign cash holdings of $62.4 billion.

Under current law, U.S. multinationals have little incentive to bring home the cash they hoard overseas, because they would have to pay 35 percent corporate income tax once they repatriate their foreign earnings. To address this issue, two senators proposed a repatriation tax holiday earlier this year, which would enable companies to return money to the United States paying just 6.5 percent tax, not 35 percent. The bipartisan proposal suggests the proceeds could help finance the Highway Trust Fund which is expected to run dry in May. It would also limit the use of the repatriated funds, prohibiting their use for stock buybacks or executive compensation and funneling them towards investment beneficial to economic growth in the U.S.

Although considered unlikely, it wouldn’t be the first time Congress passed a tax holiday for foreign earnings. In 2004, companies paid just 5.25 percent taxes on repatriated cash. However, a congressional subcommittee later found that the measure hadn’t been effective: many of the companies that profited most went on to cut jobs and reduce R&D spending in subsequent years.

Infographic: These U.S. Companies Hoard Piles of Cash Abroad | Statista

You will find more statistics at Statista

Congressman Knows Regular Lobbyist’s Order Without Even Having To Be Told


Posted on 27th March 2015 by Administrator in Economy |Politics |Social Issues


WASHINGTON—Noting that the Valero Energy representative had been coming to his office for more than a decade now, Sen. John Cornyn (R‑TX) told reporters Thursday that he now knows the regular lobbyist’s order without even having to be told. “Pete always drops in Monday mornings around eight on his way to work—well, you see the same friendly face year after year and you just pick up on what he wants,” said Cornyn, adding that he’s typically already preparing the lobbyist’s usual order of tax breaks and fossil fuel subsidies even as he’s taking off his coat. “Every once in a while, he’ll throw me a curveball and ask for a rider slashing regulations on greenhouse gas emissions, but for the most part, he knows what he likes and sticks with it. The way I see it, folks will always come back if you treat them right.” At press time, the lobbyist had arrived right on time and was getting settled in his usual seat.

Via The Onion

US House Votes 348-48 To Arm Ukraine, Russia Warns Lethal Aid Will “Explode The Whole Situation”


Posted on 25th March 2015 by Administrator in Economy |Politics |Social Issues

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Tyler Durden's picture

Yesterday, in a vote that largely slid under the radar, the House of Representatives passed a resolution urging Obama to send lethal aid to Ukraine, providing offensive, not just “defensive” weapons to the Ukraine army – the same insolvent, hyperinflating Ukraine which, with a Caa3/CC credit rating, last week started preparations to issue sovereign debt with a US guarantee, in essence making it a part of the United States (something the US previously did as a favor to Egypt before the Muslim Brotherhood puppet regime was swept from power by the local army).

The resolution passed with broad bipartisan support by a count of 348 to 48.

According to DW,  the measure urges Obama to provide Ukraine with “lethal defensive weapon systems” that would better enable Ukraine to defend its territory from “the unprovoked and continuing aggression of the Russian Federation.”

“Policy like this should not be partisan,” said House Democrat Eliot Engel, the lead sponsor of the resolution. “That is why we are rising today as Democrats and Republicans, really as Americans, to say enough is enough in Ukraine.”

Engel, a New York Democrat, has decided that he knows better than Europe what is the best option for Ukraine’s people – a Europe, and especially Germany, which has repeatedly said it rejects a push to give western arms to the Ukraine army, and warned that Russia under President Vladimir Putin has become “a clear threat to half century of American commitment to an investment in a Europe that is whole, free and at peace. A Europe where borders are not changed by force.

This war has left thousands of dead, tens of thousands wounded, a million displaced, and has begun to threaten the post-Cold War stability of Europe,” Engel said.




Posted on 9th March 2015 by Administrator in Economy |Politics |Social Issues

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The captured corporate MSM is celebrating the six year anniversary of when the stock market bottomed in March 2009. They will spin a false narrative of Bernanke, Obama and Geithner saving the world with TARP, QE, and the $800 billion Porkulus bill. What great heroes. Bernanke now gets $300,000 for a lunchtime speech at Bank of America gatherings. He is raking in north of $10 million per year now. He made $200,000 per year as the Fed Chairman. His wisdom must be on par with Jesus Christ to get $300,000 for a one hour speech. Bernanke’s Sermon on the Mount tour:

The millions he is getting paid by the Wall Street banks for speeches isn’t a payoff. Right?

Bernanke and Geithner stopped the market from falling in March 2009 by threatening the accounting geeks at the FASB and forcing them to allow fraudulent reporting by the insolvent Wall Street banks. The crisis ended – precisely – on March 16, 2009, when the Financial Accounting Standards Board abandoned FAS 157 “mark-to-market” accounting, in response to Congressional pressure from the House Committee on Financial Services and threats from Bernanke and Geithner on March 12, 2009. That change immediately removed the threat of widespread insolvency by making insolvency opaque. Mark to fantasy was born. Profits for everyone!!!

The fix was in. Every Wall Street bank was insolvent in March 2009. Citicorp and Bank of America were dead. There were hundreds of billions in worthless toxic mortgage securities, derivatives, auto loans, and credit card debt sitting on their books. FAS 157 required them to price those assets at what they could sell them for in the market. You remember free market capitalism? Something is worth whatever an independent party is willing to pay. The fat cats love free market capitalism when they are making billions. Not so much when they blow up the financial system and are faced with the consequences of THEIR actions.




Posted on 4th March 2015 by Administrator in Economy |Politics |Social Issues

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Posted on 14th February 2015 by Administrator in Economy |Politics |Social Issues

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Posted on 2nd February 2015 by Stephanie Shepard in Economy |Politics |Social Issues

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  • The “Audit The Fed Bill” was passed in the House of Representatives with overwhelming bi-partisan support with a vote of 333-92 in September 2014.
  • Senator Rand Paul’s Bill has 30 cosponsors including Ted Cruz (R- Texas), Mark Rubio (R- Florida), Senate Majority Leader Mitch McConnell (R-Kentucky), and Richard Shelby (R-Alabama).
  • If passed it would likely be vetoed by President Obama who this week proposed a $4 trillion budget for fiscal year 2016.
  • Since the 2008 Financial Crisis solutions of Quantitative Easing and ZIRP, the Federal Reserve’s balance sheet has expanded to over $4 trillion.
  • The Federal Reserved paid an all time record high profit of $98.7 billion to the United States Treasury for fiscal year 2014.
  • The first ever partial audit of the Federal Reserve in 2011 by the Government Accountability Office revealed the Federal Reserve secretly gave $16 trillion to domestic and foreign banks between December 2007-June 2010:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)


Ten New Year’s Resolutions for Congress


Posted on 8th January 2015 by Administrator in Economy |Politics |Social Issues


Guest Post by Ron Paul
Since New Year’s is traditionally a time for resolutions, and since the new Congress convenes this week, I thought I would suggest some New Year’s resolutions for Congress:

1) Bring the troops home — Congress should take the first, and most important, step toward ending our hyper-interventionist foreign policy by bringing our troops home and closing all overseas military facilities. The American people can no longer afford to bear the cost of empire.

2) Pass the Audit the Fed bill — The American people deserve to know the entire truth about how the Federal Reserve’s monetary policy benefits big-spending politicians and financial elites while harming average Americans.

3) Repeal the PATRIOT Act and rein in the National Security Agency — It is approaching two years since Edward Snowden revealed the extent of the NSA’s unconstitutional spying. Yet Congress still refuses to put a leash on the surveillance state. Congress should take the first step toward restoring respect for the Fourth Amendment by allowing Section 215 of the PATRIOT Act to expire.

4) Shut down the Transportation Security Administration — Treating all American air travelers as criminal suspects and subjecting them to intrusive and humiliating searches does nothing to enhance our security. Congress should shut down TSA and return responsibility for airline security to the airlines. Private businesses can effectively protect their customers and employees if the government gets out of the way.

5) End all corporate welfare — Federal programs that provide subsidies or other special benefits to politically-connected businesses cause economic inequality, distort the market, and waste taxpayer money. It also makes political and moral sense to cut welfare for the rich before cutting welfare for the poor. Congress should start dismantling the corporate welfare state by killing the Export-Import Bank and the Overseas Private Investment Corporation. Congress should also reject legislation proposed to benefit one industry or individual, such as Sheldon Adelson’s Internet gambling ban.

6) Repeal and Replace Obamacare — Many Americans are losing their insurance while others are facing increasing health care costs because of Obamacare. Repealing Obamacare is only a first step. Congress should both repeal all federal policies that distort the health care market and restore a true free market in health care.

7) End police militarization — The killing of Michael Brown in Ferguson, Missouri in August brought the issue of police militarization to the center of national debate. Congress must end all federal programs that provide military equipment to local police forces.

8) Shut down the Department of Education — It is no coincidence that education in America has declined as federal control over education has increased. Congress should de-fund all federal education programs and return control over education to local communities and parents.

9) Allow individuals to opt out — A positive step toward restoring a free society would be allowing individuals to opt out of Obamacare and other federal mandates. Young people should also be granted the ability to opt out of paying Social Security and Medicare taxes in exchange for agreeing to never accept Social Security and Medicare benefits.

10) Allow state governments to opt out — If Congress lacks the votes to end the war on drugs, repeal Obamacare, or roll back other unconstitutional federal programs, it should at least respect the rights of states to set their own policies in these areas. Federal prohibition of state laws nullifying Obamacare or legalizing marijuana turns the Tenth Amendment upside down.

By adopting these resolutions, Congress can make 2015 the year America begins reversing the long, slow slide toward authoritarianism, empire, national bankruptcy, and economic decline.

This article contributed courtesy of the Ron Paul Institute for Peace and Prosperity.

Day-Old Congress Most Hated Ever


Posted on 7th January 2015 by Administrator in Economy |Politics |Social Issues

Guest Post by Andy Borowitz

The New Yorker

Credit Photograph by BRENDAN SMIALOWSKI/AFP/Getty

WASHINGTON (The Borowitz Report) – In a troubling sign for the 114th Congress, a new poll released on Tuesday indicates that the day-old legislative body is the most hated in the nation’s history.

According to the poll, conducted by the University of Minnesota’s Opinion Research Institute, only eight per cent of those surveyed approved of the job Congress is doing, a scathing indictment of the legislators’ first day on the job.

The 114th Congress started the day on a slightly more positive note, garnering a ten-per-cent approval rating, but after the House of Representatives reëlected John Boehner (R.-Ohio) to a new term as Speaker, the number sank to eight.

On the Senate side, Joni Ernst (R.-Iowa), newly elected to the most despised Congress in American history, said that the low approval number was no cause for concern.

“If you ask somebody to pick a number between one and ten, eight is a pretty high number,” she said. “So it’s all good.”

After Senator Ernst made her comment, Congress’s approval rating plummeted to four per cent.

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Unskilled Workers Report for New Jobs


Posted on 4th January 2015 by Administrator in Economy |Politics |Social Issues

Guest Post by Andy Borowitz


WASHINGTON (The Borowitz Report)—Sixty-four unskilled workers will report to new jobs in Washington, D.C. on Tuesday as part of a federal jobs program that provides employment for people unable to find productive work elsewhere.

The new hires, who have no talents or abilities that would make them employable in most workplaces, will be earning a first-year salary of $174,000.

For that sum, the new employees will be expected to work a hundred and thirty-seven days a year, leaving them with two hundred and twenty-eight days of vacation.

Some critics have blasted the federal jobs program as too expensive, noting that the workers were chosen last November in a bloated and wasteful selection process that cost the nation nearly four billion dollars.

But Davis Logsdon, a University of Minnesota economics professor who specializes in labor issues, said that the program is necessary to provide work “for people who honestly cannot find employment anywhere else.”

“Expensive as this program is, it is much better to have these people in jobs than out on the street,” he said.

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