My Political Opinions

Wake Up America

Government Makes 12 Billion Profit On CitiGroup Stock

December 7th, 2010

One year ago the government balled out Citigroup with a $45 billion dollar investment… today they sold the last of the stock owned by the government and end up with $57 billion dollars that’s a $12 billion dollar profits!

So much for the loom and doom Republicans screaming about the bailouts costing tax payers money… last month it was GM and now Citigroup, we should make money on ever bailout!

While this is good news and for you and me $12 Billion is a lot of money, the President’s balless compromise that caved into the Republican demands to extend the tax breaks for the rich for two more year, is estimated to cost the Government close to $600 billion dollars.

The Republicans did give the President his extensions  for the unemployed as part of the deal… interesting Republicans said they would not extend this unless the President showed how he would pay for it, but now that He caved and gave the rich the tax breaks the Republicans demanded they seem to have forgotten that… so much for the Republicans getting serious about debt reduction!

Now lets see how many jobs the rich create with this tax savings… remember this is the same money they have been saving on their taxes for the last 10 years, so if the Republicans say they need these low rates because it will create jobs, I would ask how we are in this mess to begin with if that truly is the answer.

Come on America Wake Up!

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Republicans Hold You Hostage For The Rich

December 6th, 2010

Right now this very minute the Republicans in the Senate are holding unemployment compensation  and middle class tax cuts hostage, until Democrats give in and extend tax breaks for the rich.

Even though Democrats tried to compromise and upped the middle class tax cuts from families making $250,000 up to include those making $1,000.000 the Republicans have dug in and refuse to compromise. They have said they will not vote for any extensions nor will they vote to extend unemployment compensation if the Democrats don’t extend tax breaks for the rich.

Even though 53% of Americans want the tax rates for the rich to go back to what they were before the Bush tax cuts, and the majority of Americans think the National debt is an issue that must be addressed  the Republicans know better. These are the same people that accused the Democrats of ignoring the American people’s will for the last two years.

The Republicans say raising taxes on the rich will kill job creation… the rates have been this low for the last 9 years and unemployment is at it’s highest rate in 25 years so how does that hold up?

Warren Buffett Tells ABC Rich People Should Pay Higher Taxes

Buffett has been outspoken in his quest to get the federal government to raise taxes on high income earners, and repeated his support of higher taxes on the program. Amanpour asked if he thought that all Bush-era tax cuts should come to an end, as advocated by Alan Greenspan, but Buffett said, “No . . . actually you might extend them further for the lower class, middle class and maybe upper middle class but I think that you should raise taxes on the very rich.” He pointed out that during his life, capital gains taxes had been at 39.6% and taxes on earned income had stood at 70%, “and our economy did just fine.”

He also pointed out a previously much-publicized fact–that he pays less income tax than his employees; something he does not consider fair. He told of how he’d done “this little survey” in his office, with 16 people who responded. “And I had the lowest tax rate of the 16.” He explained further that he didn’t have tax shelters or a planner to cut his tax bill; “It was all courtesy of the U.S. Congress. I mean, they did my tax planning for me. And, literally, the average for the office, counting payroll taxes, was 32% and mine was 16 and a fraction percent.”

Buffett is not the only rich person saying his taxes should go up, when Bill Gates was asked the question he also said the tax rates for the rich should go back to what they were before the Bush tax cuts.

So the question is why are the Republicans willing to hold the middle class hostage for something that no one says is good for the country?  The truth is there is a large group of people making over $250,000 per year that are due to get their yearly big fat bonus checks that are very much in favor of what the Republicans are doing… these are the traders on Wall-Street.

These people make tons of money no matter what they do for their clients, many of these bonuses are tied to trading transactions, not necessarily what they made for their clients… how many jobs do you think these people will create with their tax breaks?

Even though the elected Tea Party candidates won’t start until January, why are they remaining silent about this 10 trillion dollar give-away to the rich, if they indeed are worried about the National debt?

So lets just make things clear…

America is pissed at the Democrats because they passed a health care bill that will eventually make certain all Americans have access to health insurance and over time lower the cost of health care.

So now the Republicans take over and the first thing they do is let Wall Street keep their tax break and vote against unemployment compensation for millions of Americans that can’t find work right before Christmas.

Of the two which one had your best interest at heart? The biggest problem with the new health care legislation is that it gave insurance companies to much time to raise rates before everything kicked in… that and the fact that there was no public option to put pressure on the insurance companies to hold premiums down.

Democrats need to get some balls, and America needs to wake-up!

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