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Showing posts with label middle class. Show all posts
Showing posts with label middle class. Show all posts
Friday, August 2, 2013
Monday, January 7, 2013
Home of the Enslaved
By: Terresa Monroe-Hamilton - the NoisyRoom
Millions of Americans got a nasty surprise this week in their paychecks. Their pay was effectively reduced due to the taxation football being fumbled once again by our so-called esteemed leaders in DC. Many Americans believed these politicians on both sides of the aisle when they claimed that they had to pass Obama’s mandate to raise taxes, because not to would be catastrophic. It would raise taxes on the middle class in the midst of a managed depression. Well, they passed the financial crap sandwich to avert the fiscal cliff and guess what? They raised taxes on the middle class. It was the middle class who makes $30,000 a year and up that was hit hardest. Not the wealthy, who were hurt very little if at all. This folks, was the Progressive elites sticking it to middle America to further fund their lavish lifestyles. And Obamacare hasn’t even really bit us yet – just wait. Some insurers this morning announced premium hikes of approximately 26%.
From Pat Buchanan:
The party that blocked tax increases since George H.W. Bush agreed to raise Ronald Reagan’s top rate of 28 percent to 35 percent, thus repudiating his “no-new-taxes” pledge, just signed on to one of the largest tax increases in history.
Payroll taxes on working Americans will rise by a third, from 4.2 percent of wages and salaries to 6.2 percent. For couples earning $450,000, the tax rate rises from 15 to 20 percent on dividends and capital gains, and from 35 to 39.6 percent on ordinary income. The death tax will rise from 35 to 40 percent on estates over $5 million.
Obamacare will push those rates up further. And now we learn the bill was stuffed with tax breaks for windmills, NASCAR owners and Hollywood.
Not only did they further enslave Americans and bleed them for more taxes, they didn’t cut spending AT ALL! They increased spending by about 3.9 trillion. What does it say about the nation’s finances when spending estimates can only be guessed to within the nearest 2 or 3 trillion dollars? I ask you, how long will America submit to this thievery and forced serfdom imposed on our citizens? What will be the tipping point? It could be any number of factors, but we are getting closer and closer to ripping our country apart. According to Bob Owens and Pat Buchanan, the seizure of arms will do the trick and they are right. According to Fox News and Mark Levin, the way both sides dealt with the fiscal cliff is a big step towards conflict and they are right as well. Just what does everyone think will happen when food stamps, social security, disability, pensions etc. stop, because there is no more money or money is worthless due to hyperinflation from printing? What do they think will happen when the government moves to confiscate our guns? (You think this is about protecting “the children?” Dream on.) It won’t be pretty in either scenario. Taxes, brought on the Declaration of Independence. The seizure of arms, sparked the American Revolution.
And it is not just Conservatives who have had enough, both sides are fed up with this government suppression:
Video: Both Sides Are Fed Up with this Government Supression
Cramer who is by no means a staunch conservative, rants on about how Obamacare and taxes are affecting a wide range of American’s and their wallets:
Everyone who sat down with their accountants in the past 48 hours is dazzled, dazzled about what’s gonna happen. And I’m not just talking about the wealthy people, because we’re starting to talk about healthcare, small businesses — what they’re thinking about at the end of 2013.
This is nothing new. It seems every time there are hard times, there is a Progressive in office. Their solution is always to tax more, not cut spending. Build bigger government and more sweeping regulation to control America which stifles inventing and entrepreneurship. They further empower the IRS as a weapon and engage in criminal activity to line their pockets. Then at some point, a sane conservative comes in and cuts spending and taxes, and sanity and prosperity returns to America. Remember that Carter had a tax rate of 70% or so when in office. America really suffered until Reagan came in and eventually slashed the tax rate to 28% – America boomed. You saw the same thing with Calvin Coolidge, etc. We are running out of time for a true Constitutional Conservative to step forward and save us from the Progressive pit.
The ink has not even dried on the latest tax monstrosity and Progressives such as Maxine Waters and Nancy Pelosi are going down the French path calling for more taxes on the wealthy. Two points here… 1) The wealthy are not the ones being hurt by these rising taxes. They have shelters, etc. in place and they can always leave. 2) The Progressives are liars. They fully intend to crush Americans with these taxes and bleed every penny they can from us. And when the crash comes, they will be free to form a new and dictatorial government. As Michelle Malkin says: Elitism. Exemptions. Evasion. Watch for massive taxation that is on the way: carbon taxes, value added taxes, taxing by the mile for cars and on and on until these Marxist fiends are stopped. A patriot can definitely love his country and hate his government. Ask the patriots of ’76.
Our middle class is being absolutely destroyed and it is deliberate. Cloward and Piven is working and we stand by and just scratch our heads as the Progressives carry on their merry way towards the destruction of America. Soon there will only be the poor masses and the rich elite. Poverty and debt are rising in the wake of rising taxation. Food stamp usage is at an all time high and I contend there is real hunger in America now, behind the closed doors of our homes and soon in the streets. Employment statistics are a lie as is the stock market. Unemployment should be closer to 22 to 30% and the stock market is a Progressive fantasy. It won’t last. It can’t with the printing of money and the non-stop spending. We are broke and our debt will some come due with no way to pay the piper. You can bet our enemies are hungrily waiting in the wings. It’s hard to tell whether fiscal collapse or war will hit first, but they are the Progressive two-step anyway, always arriving in tandem during the reign of a Liberal.
America is under a Constitutional emergency. Our Constitution is being ignored and violated regularly. The government is assaulting us on so many levels, something, in the end, will have to give and that is what the Progressives want so they can bring the full weight and force of the government down on the majority of Americans. In closing, I will provide a warning to those who would be King from Bob Owens:
A nation with just 800,000 law enforcement officers and 3 million active and reserve military personal cannot easily defeat and enslave a free people armed with 300 million firearms, even if large numbers of the police and military didn’t walk away or switch sides to follow their oath to the Constitution instead of any given leader, as many assuredly will.
Retribution against those who would be responsible for such a conflict by attempting to undermine the Constitution is assured. They will face extra-judicial justice walking across the street with their families, or in a formal war crimes trial. Either way, their attempt at tyranny ends in death or prison… hardly what these would-be elites imagined for themselves as they planned to loot the remains of a once-powerful economic engine.
I have two words of advice for those that imagine they can subjugate the arsenal of freedom with the stroke of an autopen.
Tread carefully.
When patriots say, “Don’t tread on me…” they mean it. You cannot strip us of our Constitutional rights and not expect that we will defend the Republic. This is not the ‘Home of the Enslaved.’ This is the ‘Land of the Free’ and free men and women will fight as such. Tread carefully indeed.
Related:
Report: Obama cutting secret deal with banks because foreclosure probe is going badly
President Obama Signs Executive Order Allowing for Control Over All US Resources
Why Was a 2.3% ‘Medical Excise Tax’ Showing Up on Receipts from Sporting Goods Giant Cabela’s?
The Truth About The Fiscal Cliff In Simple Terms
“Tax The Rich” Thrown Out In Socialist France – “It’s Unfair”
Merry Christmas… Happy New Year – a (partial) list of Obamacare taxes, fees
$10 Million of Silver Lying in the Street
Guess Who Owes $1 Billion on a $100 Million Loan
CEOs Slam Fiscal Cliff 'Disaster,' Call For Specific Deficit Reduction Plan
Republican Senator McConnell rules out more taxes in fiscal fight
Donald Trump Slams GOP: How Would He Have Struck 'Fiscal Cliff' Deal?
More Estate Tax Changes Could Follow Fiscal Cliff Deal – Forbes
Denny’s to charge 5% ‘Obamacare surcharge’ and cut employee hours to deal with cost of legislation
Just Seven Companies Offer to Finance Obama’s Inauguration
Big Business and Marxist Collusion – Bourgeois Socialism
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Tuesday, March 24, 2009
The Weimar Solution
“The best way to destroy the capitalist system is to debauch the currency,” said Lord Keynes.
Ben Bernanke disagrees. A student of the Depression, the Fed chair appears far more fearful of deflation — a vicious cycle of falling prices, debt defaults, home foreclosures and rising unemployment.
Deflation is what America underwent in the 1930s. A Fed-created bubble burst, causing margin calls to go out to stockholders, who ran to their banks that, besieged, collapsed, wiping out a third of our money. As Milton Friedman, who won a Nobel for his thesis that the Federal Reserve caused the Great Depression, told PBS in 2000: “For every $100 in paper money, in deposits, in cash, in currency, in existence in 1929, by the time you got to 1933 there was only about $65, $66 left. And that extraordinary collapse in the banking system, with about a third of the banks failing … with millions of people having their savings essentially washed out, that decline was utterly unnecessary.
“(T)he Federal Reserve had the power and the knowledge to have stopped that. And there were people at the time who were … urging them to do that. So it was … clearly a mistake of policy that led to the Great Depression.”
Is Bernanke fighting the war of 1929 in 2009? Surely, today, with the explosion in M1, the basic money supply, there is no shortage of dollars out there, even if they are not circulating fast enough.
To end our recession, Bernanke may be running an even greater risk: hyper-inflation. This has destroyed more nations than deflation or even depression.
Recall: It was French military intervention in the Ruhr in 1923, to force payment of war reparations, and Weimar’s decision to let the currency fall and pay the French in cheap marks that led to the wipeout of the German middle class, the discrediting of that democratic republic and the Munich beer-hall putsch of Adolf Hitler.
“The first panacea for a mismanaged nation,” said Ernest Hemingway, “is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
Which brings us to last week’s shocker...
The Fed will buy up $300 billion in long-term Treasury bonds and spend $750 billion more buying sub-prime mortgages to remove them from the balance sheets of ailing big banks, to get the banks lending again.
Bernanke is printing money to buy U.S. bonds.
This new gusher from the Fed, after the $700 billion TARP bailout, comes on top of a Congressional Budget Office estimate that this year’s deficit will be $1.85 trillion, 13.1 percent of gross domestic product, more than twice the share of the U.S. economy of the largest previous postwar deficit.
Concluding the dollar is being abandoned in a frantic Fed effort to stop the recession, markets reacted instantly. The dollar plunge was the steepest since the Plaza Agreement of 1985. Gold shot up to $950 an ounce. Silver had a 12 percent run-up, the sharpest ever. Oil prices surged above $50 a barrel. Commodity markets advanced.
The Fed seems to have confirmed the fears of Premier Wen Jiabao, who said that China is “definitely a little worried” about the value of the U.S. bonds Beijing has purchased with the dollars piled up from her trade surpluses with the United States.
Can one blame the Chinese? They have already been burned on their U.S. investments. And if the defense of the dollar against its ancient enemy inflation is being abandoned, and protecting the dollar is to take a back seat to the Fed’s fight to avoid deflation, than it is indeed time to get out of the dollar and dollar-denominated assets.
For inflation is theft. It make liars and cheats of governments. By eroding the value of a currency, inflation punishes savers and creditors and rewards debtors. And what nation is the biggest debtor of them all? The United States of America.
Insidiously, inflation consumes the value of cash, savings, municipal bonds, corporate bonds, Treasury bonds and T-bills. Friends who lent America money, who bought our debt in good faith, are robbed and made fools of, while speculators who bet against America by shorting the dollar in the currency markets are vastly rewarded.
Given the $3.6 trillion budget Obama plans, the $1.8 trillion in red ink he will run by Oct. 1 and the trillions the Fed is pumping into the economy, gross domestic product should spike, as it did after the far smaller stimulus package of 2008.
We will feel a healthy glow, and folks will begin to sing, “Happy Days Are Here Again.”
Yet, one senses that we are doing again exactly what we have done before in this generation. Rather than endure the pain and accept the sacrifices to cure us of our addiction, we are going back to the heroin. And this time, with Dr. Bernanke handling the needle, we may just overdose.
By Pat Buchanan who is a nationally syndicated columnist and author of Churchill, Hitler, and "The Unnecessary War": How Britain Lost Its Empire and the West Lost the World, "The Death of the West," "The Great Betrayal," "A Republic, Not an Empire" and "Where the Right Went Wrong."
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