4 More yrs & Vman Will Insert Hatchet into Forehead!

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4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » April 12th, 2012, 3:59 pm

Well, I think it time to start because I so fear that lying vermin President of ours may get reelected; factoring in the fact that the average American is not that smart! If Barry is reelected the damage/debt will be irreversible. Over the past few weeks, Obama has exhibited intensity in his execution of class warfare. He is trying to convince everyone that those who earn 17% of Adjusted Gross Income, yet pay 36.7% of federal income taxes don’t pay anything, while those who pay little or no taxes shoulder the entire tax burden. Obama will continue to toss out misinformation throughout the campaign about all these billionaires that supposedly pay little in taxes.

While Barry is prosecuting his class jihad, we should remind him of these facts and figures:

Obama has accrued more debt in 3 ½ years than Bush did in 8 years – and Bush was a big spender. When President Bush was sworn in on January 20, 2001, the total federal debt stood at $5.728 trillion. On January 20, 2009, the day he left office, the debt had increased to $10.629 trillion, a jump of $4.9 trillion. Just 38 months later, the debt has increased another $4.992 trillion to a grand total of $15.621 trillion (as of April 9)!

Amazingly, $4.577 trillion, or 91% of Obama’s debt increase comes from the public share of the debt, which now stands at $10.88 trillion.

We are on pace to breach the $16.394 trillion debt limit before the November elections. That means that he will have amassed almost (or more than) $6 trillion in debt by the time Barry, God willing, leaves office next January. It took from our country’s founding until 2002 to amass $6 trillion in debt.

The debt has increased $1.327 trillion in the past 9 months since we “solved” the debt crisis with the Budget Control Act. That’s about as much as the top 1% of income earners make in 12 months.

When Obama took office, the gross federal debt was 76.5% of GDP, while the public share of the debt stood at 45% of GDP. Now, those numbers stand at 102% and 71% respectively.

The debt per taxpayer stands at $137,751, up from $89,330 just 4 years ago.

The monthly deficit for this past February was a record $232 billion. We didn’t start accruing annual deficits of $230 billion until this past decade.

In February, we spent $335 billion in 29 days. It comes out to $11.5 billion per day; $480 million per hour.

Remember that none of this even begins to account for the $70 trillion+ unfunded entitlement liability and Obama’s new proposed spending that he wants to pay for with the “Buffett Rule.” Even Barry claims that he understands how massive tax increases would be counterproductive and that he only wants the rich to pay “a little more” to fulfill their “fair share.” The fact is there is no way the Buffett Rule, which would raise $46.7 billion in revenue over 10 years, will ever solve the debt crisis, even if you subscribe to the notion that we can and should raise some taxes.

Now that Mitt Romney has all but secured the nomination, he has an opportunity to combat Obama’s Buffett Rule with the Romney Rule. Government spending should not grow faster than the private economy. That is the only way to solve the debt crisis. Period.


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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » April 24th, 2012, 4:13 pm

Here’s a little lesson in the interconnectedness of Barry’s disastrous “green energy” investments: Keeping in mind that we don't hear one word from the MSM re. Solyndra!

One of the big recent “green energy” epic failures is A123 Systems, which raked in $300 million from the “stimulus” bill, plus another $135 million in Michigan state funding. They’re currently teetering on the edge of bankruptcy, and just got slapped with a class-action lawsuit for allegedly “making false and misleading statements” about manufacturing deficiencies in their products.

One of those products was the electric battery used in the Fisker Karma, a $100,000 electric sports car that literally dropped dead when Consumer Reports took it for a test drive. A123 Systems was betting heavily on Fisker’s success – so heavily that they pumped $20 million of their own equity and cash into the auto maker.

Fisker got $529 million of your money from the Obama Administration, producing 500 manufacturing jobs. Unfortunately, those manufacturing jobs were in Finland, not America. Fiskers executives were quite proud of their wise decision to keep those jobs overseas.

Confronted by this horrific embarrassment, Obama apologists pointed to the Fiskers plant in Delaware, the lovely state from whence our idiot Vice President hails. They bought an old GM factory (built when the “G” stood for “General,” not “Government”) and planned to build a much more affordable $50,000 car for the common man in their American facility. It’s called the “Atlantic.” It doesn’t actually exist, and it probably never will.

That’s because Fisker has begun laying off workers left and right at its Delaware plant, “because it ran out of government loan money,” . “Fisker had failed to meet production and sales milestones it had promised in the loan agreement with the Department of Energy, so loan cash was shut off last May.” They’re up to 66 layoffs now.

As reported at The Truth About Cars, “At this point the plant is empty, Fisker having spent millions of dollars, most of it public funds, to remove the old equipment yet not having the money to buy and install a new assembly line.” Every single one of the few cars Fisker has sold were assembled in Finland.

The kinda-sorta good news, if you’re willing to put a happy face on anything salvaged from the ruins of Obamanomics, is that Fisker didn’t burn through all $529 million of the U.S. taxpayer money the Obama Administration handed them. They’ve only spent about $200 million so far. The Energy Department put a hold on the rest of their subsidized loans. It’s very unlikely they’ll be able to meet the qualifications necessary to unlock that money… and no private investor in their right mind is going to give them big bucks unless they know Uncle Sucker is going to provide that taxpayer support. Meanwhile, the state of Delaware is reportedly paying the utility bills for the empty Fisker factory, which is not exactly an encouraging sign to potential private investors.

The need to get that money from the Obama Administration wipes out whatever flexibility Fisker might have had to develop an alternative business strategy. As Ronnie Schreiber writes at The Truth About Cars, “The problem for Fisker is that their entire business plan was based on getting money from the federal government and other assistance from the state of Delaware conditional on building cars in that same Delaware plant. If Fisker walks away from Wilmington, they’re on the hook for that same $200 million that they’ve borrowed in addition to what they’ll need to set up shop somewhere else. There’s just no way they’re going to find private funding with that hanging over their heads.” Schreiber wonders if it’s time for the “Fisker death watch” to begin.

So, for anyone still wondering: no, command economics can’t compete with the power and wisdom of the free market. Subsidized production and artificially created demand are collapsing into a black hole of serial bankruptcies, as the dying days of Obamanomics leave us with nothing but a mountain of debt and empty factories. And if you think that isn’t bad enough, try adding in the lost profit from the true opportunities obscured by the static of command economics, and the immense interest payments we, and our children, will be shelling out to finance the hundreds of billions of dollars Barry has wasted.
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » April 24th, 2012, 4:18 pm

And if interested......little attention has been paid to the political muscle backing Fisker and a host of other federally financed “green” firms.

Hoover Institution fellow Peter Schweizer reports in his new book that , 80 percent of Energy Department renewable-energy loans went to firms that have supported Barry or his party financially. The administration, for its part, seems more concerned with the “optics” of such allegations than the problematic nature of a federal bureaucracy that rewards political insiders. Hence, a former Obama campaign staffer suggested in February that Energy Secretary Steven Chu be fired, not for any alleged wrongdoing, but rather to preempt “the wave of GOP attacks that are surely coming over Solyndra and other inside DOE deals that have gone to Obama donors and have underperformed.”

In the case of Fisker specifically, conservatives should recognize the importance of California venture-capital firm Kleiner Perkins Caufield & Byers — which is one of Fisker’s larger investors, having contributed mightily to its initial $1.1 billion capital infusion. The company is teeming with political connections.

Al Gore joined Kleiner Perkins as a senior partner in 2007 — to save the planet, I suppose. Top Kleiner Perkins executives have given more than a million dollars to federal candidates and parties since 1991, most of it going to Democrats. Obama himself has received $19,000 from the company’s employees.

While Gore is the most famous Kleiner Perkins executive, John Doerr, another senior partner, has also been very active in liberal politics. He currently sits on the president’s Economic Recovery Advisory Board, and hosted Barry at his home for a dinner with top Silicon Valley executives in February. Doerr was also very active in pushing the Global Warming Solutions Act, California’s punitive 2006 carbon-emissions law.

According to the Center for Responsive Politics, Brook Byers, also a major partner, has made $391,110 in political contributions since 1990, $148,500 of which went directly to the Democratic party ( the rest went to individual Democratic candidates). Kleiner Perkins co-founder Frank Caufield’s $394,950 in political contributions since 1990 have gone almost entirely to Democrats. Another top partner, David Blood, helped organizea $2,300-a-head fundraiser for Candidate Obama in 2008.

Vice President Joe Biden’s October 2009 visit to Fisker’s Delaware production facility has fueled criticism of the $529 million in taxpayer financing for the company. But Fisker was not the only Kleiner Perkins–backed company to enjoy a visit from a top administration official.

Electric-vehicle manufacturer Proterra hosted Transportation Secretary Ray LaHood at its Greenville, S.C., production facility in January. LaHood touted the visit on his blog under the headline “Winning the future, Proterra style.” Energy Secretary Steven Chu toured the Las Vegas production facilities of solar-panel manufacturer Amonix in June “to see first-hand how the Obama Administration’s renewable energy policies are turning into economic activity and energy independence.” Amonix and Proterra both received financing through Obama’s stimulus package — $5.9 million for the former, and $6.6 million for the latter.

Amonix, Proterra, and Fisker are three of at least nine companies financed by Kleiner Perkins that have received taxpayer backing in the form of direct payments, contracts, or preferable tax treatment. The others include EdeniQ, FloDesign, MiaSole, Primus Power, QuantumScape, and TAS Energy. Kleiner Perkins did not respond to a request for comment on this story.

Four More years?????
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » April 24th, 2012, 4:26 pm

There's more: Since 2009, a wind-power company in Devens, Mass. has taken $21.7 million in Recovery Act awards, sent the bulk of that taxpayer-funded stimulus to French firms, fallen victim to industrial espionage and fired American workers.
American Superconductor was once a paragon of so many promising alternative energy companies, a shining example of the scores of green enterprises that – we were told – needed but a helping hand in order to realize their potential. Yet since the Department of Energy first pegged American Superconductor as a winning business, the company has sent millions of taxpayer dollars to French companies, lost trade secrets to state-owned companies in China and lost American jobs.
Far from a story of successful public investments, American Superconductor’s story is an exhibition of the unintended and often perverse consequences of government-directed attempts to chart the course of American innovation.
The company, now superconducting business as AMSC, is a developer of wind turbine components and power grid systems based in Devens, Mass. The firm received $21.7 million in grants and contracts from the Department of Energy in 2009 and, according to Recovery.gov, has since subcontracted $12.1 million of its taxpayer-funded stimulus to Nexans France of 4 Rue Mozart, Clichy, France and Air Liquide, a major distributor of gases based in France.

Recovery.gov is a federal website created by the Obama administration to help taxpayers see how the government has allocated $749 billion in Recovery Act stimulus funds:

According to the site, AMSC’s awards funded a project for the Navy that is complete and another for the Long Island power grid that is more than 50 percent complete. According to the Administration’s reporting, AMSC’s awards allowed the company to retain 12 full-time position equivalencies—that is, $1.8 million per job “saved or created.”
But even these dismal numbers may be gratuitous if not deceptive estimations of AMSC’s job creation, for according to financial disclosures, the company commenced two rounds of layoffs in 2011, cutting its workforce by more than 300 employees.

These “structural changes” came about after startling revelations involving AMSC’s largest customer, Sinovel Wind Group of China. According to company documents, senior level Sinovel employees paid a $1.5 million bribe to an American Superconductor employee in exchange for help stealing encryption codes.

American Superconductor Falls Victim to Intellectual Property Thieves
American Superconductor’s near-collapse in 2011 at the hands of intellectual property thieves employed by Sinovel has been thoroughly aired in the press However, none of these publications mention AMSC’s receipt of taxpayer cash or its connection with at least one major Democratic donor. For those unfamiliar with the drama that played out between AMSC and Sinovel, here’s the Reader’s Digest version:

The two wind-power companies operated according to a mutually agreed upon shipment schedule, whereby AMSC would send components to Beijing and Sinovel would pay accordingly. Early in 2011, Sinovel began refusing shipments from AMSC, stopped paying its invoices and left AMSC on the hook for some $50 million in undelivered components.
But more importantly, AMSC was left with an uncomfortable fact to disclose to investors at their March 31 filing deadline with the Securities and Exchange Commission. AMSC asked for and received a temporary reprieve, but was nonetheless forced to go public with the information on April 5 that Sinovel was no longer a paying customer, following which the price of AMSC’s common stock tumbled.

AMSC subsequently filed claims against Sinovel with the Beijing Arbitration Commission alleging that Sinovel had violated contracts. But in the months that followed, AMSC, with the help of Austrian authorities, discovered evidence—mostly e-mails—that senior-level Sinovel employees had, in June of 2010, paid an AMSC employee a $1.5 million bribe to help them steal valuable encryption codes.

According to AMSC’s SEC filings, the company submitted a civil action application to the Beijing Higher People’s Court against Sinovel and certain of its employees for trade secret infringement on September 13, 2011 under the caption (2011) Gao Min Chu Zi No. 4193. Dejan Karabasevic, formerly an employee of AMSC’s Austrian subsidiary, AMSC Windtec, confessed to taking the bribe, was convicted on Sept. 23 and now resides in Austrian prison.
AMSC said Karabasevic’s conviction was indicative of the strength of the company’s suits against Sinovel. However, Sinovel, commenting publically for the first time in October, hotly denied all accusations of trade secret theft, announced counter claims and counter suits and said it refused AMSC’s deliveries because the components failed to meet China’s tough standards.

Absent last year’s tumult, AMSC has plenty to be optimistic about, for according to the New York Times, Sen. John Kerry (D – Mass.) said he intended to raise AMSC’s case with China’s Vice President Xi Jinping personally during the diplomat’s Feb. 14 visit to America.

Following Jinping’s visit, AMSC received an initial hearing with the Beijing Arbitration Committee, a hearing AMSC spokesman Jason Fredette called, “the beginning of a process.” Fredette said that although the company has yet to receive a court date from Beijing, they are confident they will get one before the end of the year.
“We continue to have strong relationships with China,” he said.

An aside: Much to the New York Times’ chagrin, that prestigious publication wrote, in April 20, 2011, a piece lauding China’s leadership in alternative energy innovation, including Sinovel. Importantly, this article ran more than two weeks after AMSC’s disclosure but several months before its revelations of intellectual property theft.

The Times write:
“And local maker Sinovel, which got its start with imported technology, later used its own invention to develop the first major offshore wind farm outside Europe.” (Emphasis mine, irony ours)
The implication would be that Sinovel not only stole AMSC’s technology and left them hanging for millions in unpaid invoices, but that they then turned around and sold elements of that same thieved technology to European companies—a stunning portrait of just how ruthless Chinese companies can be.

American Superconductor Survives
Unlike Solyndra, SunPower or the myriad other green enterprises that have gone belly up after taking Obama-cash, AMSC survived its brush with free market reality through a strategy of layoffs and cash injections from Kevin G. Douglas, a wealthy Democratic donor and the top shareholder in AMSC, according to SEC and FEC records.
When Sinovel broke ties, AMSC has left with an uncomfortable fact to disclose to the SEC at their March 31, 2011 reporting deadline. SEC documents indicate that the company requested and received and temporary reprieve on that deadline, but it was nonetheless forced to go public with the information that it had just lost 70 percent of its customer-base on April 5. Following the disclosure, the price of AMSC’s common stock plummeted from $24.87 at market open April 5 to $13.30 at market close on April 7, bottoming out in Oct. 3 at $3.42.

In the run up to the disclosure and throughout the subsequent fallout, Douglas added direct and indirect shares of AMSC’s common stock totaling 4.8 million shares – a curious decision given that the company was floundering through the direst straits of its history with no change in sight. But even with Douglas’ timely investments, on which he took predictable and tremendous losses, losses he has yet to recover, the company was still forced to commence layoffs.
According to SEC filings, AMSC announced 30 percent layoffs in May and another 20 percent in November, cutting its workforce by more than 300 employees.

Among those who lost their job was CEO Gregory Yurek, but you won’t find him standing in the unemployment lines with his former employees, for according to SEC filings, during one week in October, Yurek exercised stock options and sold shares on six out of seven days, getting liquid fast for more than $10.4 million. And what’s more, AMSC’s board members awarded him a two million dollar annualized pension, meaning he continues to take payments from the taxpayer-underwritten operation he captained into an iceberg.

Kevin Douglas and the Obama Administration
Whatever Douglas’ reasons are investing so heartily in AMSC just as the company was floundering through the most dire straits of its history, they undoubtedly orbit Obama’s green policies.
On March 30, 2011, Barry delivered an address at Georgetown University, Washington, a speech he used to introduce his Blueprint for a Secure Energy Future. According to the president’s blueprint, government-directed investments in the alternative energy sector have and continue to be essential to our economic revitalization.
How ironic that one day after Barry lauded grants to wind-power companies, American Superconductor, a wind-power company that received such grants, reported to the SEC that it was on the brink of collapse!
Douglas and his wife Michelle have given more than $130,000 to Barry and Democratic committees, according to Federal Election Commission records. What’s more, just days after AMSC’s stock price collapsed, Douglas and his wife Michelle gave $71,600 to the Chicago-based super PAC, Obama Victory Fund 2012.
* * *
As election season intensifies, Barry will continue to tout his so-called green initiatives as forward-looking, job-creating policies. But every blueprint he brings forth; whether for a “secure energy future” or for an “American built to last” or whatthefever: the president’s attempts to centrally-plan the American economy will only undermine hardworking American entrepreneurs while enriching Barry’s pals and strengthening America’s enemies.
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » May 8th, 2012, 4:43 pm

Rick Bookstaber, a member of Barry’s Financial Stability Oversight Council, took to his personal blog on Monday to defend the administration’s class warfare policies. In his defense of the tactic, Bookstaber cited Karl Marx:

“There is little that matches the artfulness of the rich in waving off criticism of the widening income gap as ‘class warfare,’” Bookstaber writes. “And there is little that matches the gullibility of the rest in following along.”

“I am not picking sides in this war,” he added, “but I believe such a war is justifiable, and indeed ultimately inevitable.”

He continues:

During the industrial revolution class warfare centered on the length of the working day. A tightly defined working day only appeared with the advent of the industrial revolution. Before then laborers worked when they needed money, and then quit for a time once they fulfilled their needs. But regimentation and a dependable workforce became necessary once there was machinery to run and capital invested, and so with industrialization came the an enforced workday. So it is not surprising that Marx stated the central battle of class warfare at the time in terms of the working day:

The capitalist maintains his rights as a purchaser when he tries to make the working-day as long as possible, and to make, whenever possible, two working-days out of one. On the other hand, the peculiar nature of the commodity sold implies a limit to its consumption by the purchaser, and the laborer maintains his right as seller when he wishes to reduce the working-day to one of definite normal duration. There is here, therefore, an antimony, right against right, both equally bearing the seal of the law of exchanges. Between equal rights force decides. Hence is it that in the history of capitalist production, the determination of what is a working-day, presents itself as the result of a struggle, a struggle between collective capital, i.e., the class of capitalists, and collective labour, i.e., the working-class. – Marx, Das Kapital


A top economic adviser to Barry is defending class warfare by pointing to the father of communism as a positive example. Welcome to the Obama White House folks.
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » May 11th, 2012, 3:28 pm

Well. Barry's policies have brought us higher energy prices & fewer jobs, as I predicted in this forum pre-2008! Here's Barry 's quote from 8/28/08 Hell, he told us he'd like to have us paying European like gas prices, double our electric bills and cripple the coal industry.

"I’ll invest $150 billion dollars over the next decade in affordable, renewable sources of energy—wind power and solar power and the next generation of biofuels—an investment that will lead to new industries and five million new jobs that pay well and can’t be outsourced.” Barry 8/28/08

How has that worked for us? Barry loaned Solyndra $500,000,000.00 which went bankrupt and laid off over 1.100 workers.

Wind energy has shed 10,000 jobs since 2009.

Gas prices were $1.85 when Barry was sworn in...they have more than doubled to what, $3.79??

For the 80 percent of Americans born after World War II, this is their Depression. They have 5.5 million fewer jobs than at the recession's start in 2008, despite the most stimulative fiscal and monetary policy in our history. Employment has been below the pre-recession peak for over 50 months. It's the longest time since the Great Depression that payrolls have not made a new high. The 120,000 new jobs for March make no dent (and adjusted for the peculiarity of warm weather, the number of real net jobs created was 76,000); we need at least 125,000 jobs each month just to provide for new entrants in a rising population.

Discouraged workers dropping out of the labor force make the unemployment rate look fractionally better, but the 8.2 percent headline masks the misery. It is a reflection of the U-3 statistic, which counts only people who have applied for a job in the last four weeks. Among the jobless army, a staggering 42 percent of them are long-term unemployed, without jobs for six months or longer. Look instead at the more relevant U-6 statistic, which counts the number of people who have applied over the last six months. U-6 also includes those who are involuntarily working on a part-time basis. That U-6 unemployment is now in the range of 15 percent. Since 2008, some 3 million people have dropped out of the job market. If they hadn't, the unemployment rate would be about 10.8 percent. In March, the unemployment rate seemed to fall a tenth of 1 percent, yet the number of people who are actually employed dropped by 31,000. Why? Because the number of people who looked for a job dropped by 164,000 and they are not considered unemployed. Not to mention that half the new jobs are in temporary help agencies.

The jobless rate for workers ages 20 to 24 is over 13 percent; teenagers, 25 percent; Hispanic teenagers, 30.5 percent; and black teenagers, 37.9 percent.....these people voted for Barry!!

Even people with a college education face unemployment rates of about 4.2 percent, which is about double the norm for this group. Those with a certificate from a community college or at least some college coursework have a jobless rate of 7.5 percent, again about double the norm; and people who did not finish high school have it worst at almost 13 percent!

Real, authentic job creation will not come from Washington. It has to come out of the energy and spirits of the private sector. Two thirds of our employment is concentrated in 6 million small and medium-size businesses. We are not going to create jobs until they are in a state of mind to do so. They are not yet, and in part that's because of policy uncertainty that has depressed or confused them......According to the Heritage Foundation, private sector hiring has been 10 times slower following the passage of Barry's healthcare bill compared to the prior 16 months. Economists at Stanford University and the University of Chicago estimated that policy uncertainty has cost more than 2 million jobs since early 2010. These estimates reflect the small business community's reluctance to make new hires until employers know exactly what the law means in practice. The high level of temporary employment is a reflection of the same uncertainty. Businesses hedge their bets with short-term help.

We need around 1 million new businesses every year to keep us on the right track. Instead we have only about 400,000 firms starting up. We need a labor market that creates over 400,000 jobs a month. We haven't seen anything like that. In fact, through the first few months of 2012, layoff announcements have risen 18 percent from a year ago, and hiring plans have dropped 82 percent.

The programs that Barry has put in place have failed.
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby Manfred » May 11th, 2012, 7:32 pm

Read Walter Williams' column that was in today's Mirror. It's about how the Left are the real "racists" in this country. The very last statement was the clincher: he talks about the white African in the White House. Mr. Williams is one of the top black conservatives in the print/ audio media. You probably know that.
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Re: 4 More yrs & Vman Will Insert Hatchet into Forehead!

Postby vman » May 30th, 2012, 1:07 pm

Debbie Wasserman-Schultz (D-FL) has canceled a big-bucks fundraiser she planned with a top Obama 2012 fundraiser, because another of the Democrats’ air-headed narratives is threatening to blow up in their faces:

Marjorie Rawls Roberts, who has pledged to raise between $100,000 and $200,000 for Barry’s 2012 campaign, helps her wealthy clients navigate offshore tax loopholes in the U.S. Virgin Islands. Last Thursday, the Daily Caller revealed that Roberts’ clients include recently convicted $7 billion Ponzi schemer R. Allen Stanford and alleged financial criminals from the National Rural Utilities Cooperative Finance Corporation.

Wasserman Schultz was scheduled to appear with Roberts at 8 a.m. on Monday morning at an “Obama Victory Fund 2012” event — advertised as “Breakfast with DNC Chair, Congresswoman Debbie Wasserman Schultz” at “Walker’s by the Sea” in Lindberg Bay on St. Thomas.

So a big Obama donor made her fortune helping rich financial crooks exploit the kind of tax breaks President Obama spends his every waking moment whining about! An earlier article at the Daily Caller described the awesome “tax fairness” achievements of Roberts, who is also a big supporter of class-warfare blowhard Rep. Charlie Rangel (D-NY):

Roberts helped recently convicted $7 billion Ponzi schemer R. Allen Stanford with his application for tax benefits from the U.S. Virgin Islands Economic Development Corporation. Those benefits permit recipients to avoid paying some — or all — of their taxes, as long as they live in the U.S. territory for the majority of a given tax year and fulfill certain financial and development obligations to the local economy.

The Virgin Islands Daily News reported that Stanford applied for those tax breaks in 2006, and that the territory’s current governor, Democrat John de Jongh, approved the application after taking office in 2007.

Stanford, who was convicted of defrauding 30,000 of his investors with bogus investments in his Antiguan bank while living a lavish lifestyle from the spoils of his scheme, owes hundreds of millions in back taxes. In early 2009, the Associated Press reported that the federal government placed four tax liens against Stanford, totaling about $212 million, between 2007 and 2008.

It’s probably a total coincidence, but Rep. Rangel was pushing legislation that “would have limited the U.S. tax agency’s authority to investigate and audit potential tax criminals enrolled in the U.S. Virgin Islands EDC program.” And Roberts is presently engaged in helping a company “at the center of a major financial crime scandal” involving the governor of the U.S. Virgin Islands to collect some juicy tax benefits.

Shortly after the Daily Caller exposed Roberts’ resume, Wasserman-Schultz abruptly decided that doing a fundraiser with her might not be such a hot idea after all. The Congresswoman’s office claims the decision to cancel was made “at least a week ago,” but cannot advance any evidence to support that claim. The only documentation of the cancellation was a Facebook post from Roberts, which said only that the Wasserman-Schultz appearance would be “postponed.” Amusingly, this Facebook post was subsequently yanked from public view.

Matt Boyle at the Daily Caller checked Obama’s campaign website Monday morning, and found the Wasserman-Schultz appearance in the U.S. Virgin Islands was still listed. I checked at 8:30 AM Tuesday morning, and it’s still there. Tickets range from $500 general admission to $2,500 per couple for “hosts.”

Roberts has also been tearing down photos of herself with Barry, but of course the memory of the Internet is without pity. Here’s a lovely shot of the offshore tax loophole queen in the arms of a grinning Barack Hussein Obama, scourge of “tax loopholes” for those who “don’t pay their fair share.” Marjorie Roberts is the one on the right:

Image

It’s hard to understand why Wasserman-Schultz would give the cold shoulder to such an enthusiastic donor. After all, the Obama Administration is positively riddled with tax cheats. The L.A. Times found 41 of them in 2010, and cited a Washington Post report that “Capitol Hill employees owed $9.3 million in back taxes” from the previous year.

Roberts’ favorite Congressman, Tribune of the People Charles Rangel, was censured by the House for financial improprieties, including 17 years of cheating on his taxes. The Democrat Party rose as one to give Rangel a standing ovation after his censure.

Warren Buffett, the patron saint of millionaire surtaxes, has been fighting like a wildcat to avoid paying a billion dollars in back taxes. A unit of Buffett’s Berkshire Hathaway firm was just sued by the federal government for $366 million in taxes and penalties. What does this company deal in? Wait for it, wait for it…

… corporate jets!

And when it came time to hand out goodies from Barry’s gigantic pork-encrusted “stimulus” bill, tax cheats were lined up with their hands out. The Government Accountability Office found that $24 billion in “stimulus” loot was disbursed to companies owing a total of $757 million in back taxes. Tax-delinquent companies “accounted for nearly 6 percent” of Recovery Act grantees, according to the Associated Press. One firm got $100,000 Barry bucks even though they owed $6 million in back taxes.

Class-war Democrats, including the President himself, don’t seem shy about taking advantage of those evil “loopholes” they endlessly complain about. Just as nothing in the law prevents a guilt-riddled millionaire from paying extra taxes, nothing in the law compels them to take deductions. They could simply pay the total tax rate on their gross income, and take a round of applause for their bold leadership. But they don’t, because class warfare is entirely about power. It has nothing to do with fiscal sanity, as you can see from Barry’s monomaniacal obsession with a new minimum tax that would fund his government for 11 hours per year, and require over half a millennium to pay off one year of Obama deficit spending.

Barry’s class warfare routine is a sucker play, and you’re an utter fool if you believe a minute of it. The well-connected have done very well under this tax-hungry President. He wants to punish his enemies and squeeze votes out of the gullible masses with his “man of the people” routine, not pay his debts. Despite all the attacks on “millionaires and billionaires,” the true revenue target for Big Government is the middle class, especially small business owners, because that mighty host of smaller targets is less agile when it comes to evading high nominal tax rates.

“Soak the rich” rhetoric is primarily an instrument to soften up the middle class for their inevitable fleecing. When your taxes are raised – by a mournful cadre of socialists who tell you how very sorry they are, but something simply must be done to close those huge federal deficits, pay for everyone’s health care, invest in a future that’s “built to last,” and so forth – you won’t be nipping off to the Virgin Islands to look for shelter

Barry shouldn’t be running away from Marjorie Rawls Roberts. He should announce her as his next Treasury Secretary.
I have to say thank you to me ..." for not being stupid enough to go to Penn State."


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