Illinois is in a financial crisis. New Jersey is in a financial crisis. Illinois is controlled by special interests. New Jersey is controlled by special interests. What can Illinois possible to do control the cost the government? Ask Chris Christie...
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In September 2001 the Bush Administration responded to the collapse of America’s economy by pouring money into the top of the barrel of economic sand. It was the classic Republican approach to economic stress - hope that the benefits trickle down to a beleaguered middle class. The Bush Administration had already responded to the recession of 2001 by cutting taxes on corporations and the richest Americans and promised that the benefits they enjoyed would trickle down in the form of jobs created and economic activity encouraged. The surplus that they inherited disappeared as they paid for their tax cuts and Mr. Bush’s two wars with a credit card issued by China. Job growth did not materialize – except in Shanghai and Beijing -- as America’s manufacturing engines went overseas. The economic trickle did not penetrate further than bankers’ bonuses and CEO’s perks.
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There are plenty of ideas being floated for Social Security reform. Yet when we examine what types of reforms might be appropriate for reforming social security or public sector pensions, very few, if any are politically attractive.
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Posted on 9/20/2010 10:16 AM By HalfwayInterestingPoster |
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Going Green: Clever we are not.
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The effects of “wall street “on our community can be found in every corner of life. Your car, produced by a company that used wall street money to finance its plants and operations, your purchase/lease financed by a company that packaged and sold your loan to a wall street banker to bring in new cash to lend to new car buyers.
While we protest in the streets that socialism has arrived, or that TARP and the auto companies bailout has destroyed our nations character, foreign entities are tapping the US financial system for billions of dollars weekly to buy companies and start industries in the UNITED STATES!
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In an odd confluence of events, there is no estate tax this year. If congress does nothing, the estate tax will go back to 55%.
A progressive might be angry that we have a giant defecit and taxes on primarily a wealthy group (also a lot of farmers) of people are 0% this year. Conservatives are not happy about any tax rate going to 55%. No one should be happy that Congress appears to be doing nothing.
The Wall Street Journal tackled the issue a couple days ago: The Future of the Estate-Tax Law
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“A small group had concentrated into their own hands an almost complete control over other people's property, other people's money, other people's labor; other people's lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness … These economic royalists complain that we seek to overthrow the institutions of America. What they really complain of is that we seek to take away their power. Our allegiance to American institutions requires the overthrow of this kind of power. In vain they seek to hide behind the flag and the Constitution.”
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It is not a mosque and it isn’t at Ground Zero. The people who developed the plans for the Park51 project and Cordoba House aren’t clandestine supporters of radical Islamist terrorists but the man that President George W, Bush turned to and sent to the Middle East on behalf of the United States evangelizing for religious tolerance, pluralism, and peace, Imam Feisal Rauf; his wife Daisy Kahn; and real estate developer Sharif El-Gamal. Modeling their plan on Manhattan’s YMCA and Jewish Community Center, the people behind Park51 envision a multi-cultural community center inviting all New Yorkers to participate in its community programs without regard to their religious affiliation.
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To be an effective political demagogue you have to have an easily identifiable enemy that poses a dire threat against which you can rally opposition. For years, even decades, Godless Communists filled that role for the demagogues of the right wing. Democrats were accused from the political stump as soft on Communism, if not as being closet Communists. The Red Scare was everywhere and it was politically profitable.
But then a most remarkable thing happened. Mr. Gorbachev tore down that wall. The fearsome specter of Godless Communist was laid to rest – except for the comic opera regime in North Korea, Castro’s toothless and penniless Cuba, and China, upon whose goodwill and manufacturing might our American economy increasingly depends. Godless Communism is no longer a credible enemy and, in the case of China, has become an essential partner in American entrepreneurship. The Right was deprived of the fearsome enemy on which its success had depended.
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Have you ever wondered why so many real estate investors take title to property through an LLC? Read more...
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