Archive for February, 2009

The Obama tax increase is just not that bad

Saturday, February 28th, 2009

Sorry…but the Obama tax increase is just not that bad, even for the hugely affluent San Francisco Bay Area.  Story is here

  • In 2006, the last year for which figures are available, there were 68 ZIP codes in California where the average gross income was higher than $200,000 for all tax filers, and nearly half of them were in the Bay Area.
  • Two Silicon Valley ZIP codes had the highest average gross incomes in California, according to Franchise Tax Board data: The average annual gross income filed in the 94027 ZIP code, in Atherton, was over $1.1 million. It was about $937,000 for the 94039 ZIP code, in Mountain View, which includes post office boxes associated with Google and other companies.
  • Affluent Marin County would have the biggest share of taxpayers affected in the Bay Area “” nearly 10 percent of taxpayers there fall into the high-earner categories targeted by Obama”s plan.
  • Solano County, where only about 1.3 percent of taxpayers fall into the higher brackets, would have the smallest share of affected taxpayers in the Bay Area.
  • The Bush-era tax cuts would be allowed to expire, making the top tax bracket 39.6 percent.
  • Itemized deductions would be limited to 28 percent of their value for people in the 36 percent and 39.6 percent brackets. On a mortgage interest bill or charitable contribution of $10,000, that would mean a tax deduction of $2,800 instead of $3,600 or $3,960.
  • An increase in the capital gains tax, from 15 percent to 20 percent.
  • Excellent video showing the banking/credit crisis and a video showing where money comes from

    Saturday, February 28th, 2009

    This video describing the banking/credit crisis is very very easy to understand.  15 minutes and you will understand the basics of why banks are bankrupt…why investors lots trillions and why homeowners ran from their homes.
    Ummmm there is one thing that it neglects.  Many of the things that are described in this video were outlawed…yes…ILLEGAL from the time of the Great Depression until the mid 90s when they were legalized again by….guess who!!!!  ugh.  SO the video is here…the explanation is simple and you won’t be in the dark as to how things work…well worked and now failed us as they inevitably would.  Video is here

    While you are at it….there is ANOTHER EXCELLENT video explaining how money is made.  NOT the cash in your wallet…paper money is for chumps made by the US Mint.  I’m talking about International Monetary kinds of big money.  Debt makes money….not a printing press.  Video is here

    After you see these 2 videos you will really get a better understanding how the financial system of the US works.  Both videos are easy to understand with the second one taking a little bit of time to watch but well worth it. 

    The greatest transferrance of wealth….after the next greatest transferance of wealth.

    Friday, February 27th, 2009

    Seems this shows Reaganomics did not do the nation as a whole so good.  Story is here

    A quote that sums up religion quite well

    Friday, February 27th, 2009

    From my friend JK in LA

    “God, please save us from your followers.”

    Amen!

    He who eateth shrimp cocktail shall be cast into a lake of fire!

    Friday, February 27th, 2009

    Eat shrimp with yummy shrimp cocktail sauce and you just bought yourself a one way ticket to a place where ALL jammies are flammable.  Story is here

    The Bush tax cuts were truly Socialism for the rich and not good for the poor

    Thursday, February 26th, 2009

    This is pretty obvious for anyone who was paying attention but the Bush tax cuts did nothing but help the rich get richer.  See story here

    Helping to highlight the fact that tax cuts are not net gainers but net losers….

    The significant majority of these tax cuts consist of policies that return little bang for the buck, yielding less than $1 of short-term economic demand for each $1 of cost.  Altogether, Zandi’s study indicates that the average bang for the buck from the tax cuts has been 74 cents.  (In other words, each dollar of tax cuts has produced only 74 cents of added economic demand the next year.)

    Those that oppose Obama

    Thursday, February 26th, 2009

    It is good to see that those opposing Obama are so level headed!!!  See video here

    How much does it cost to run Congress

    Tuesday, February 24th, 2009

    Not the budget for the US Govt but rather to just run Congress.  Story is here

    Paul Krugman’s world

    Tuesday, February 24th, 2009

    Paul Krugman’s website highlighting his columns and blog.  Site is here

    Psychological testing here

    Monday, February 23rd, 2009

    The psychiatrist is in.  Tests here

    George Soros cannot see a bottom for the economic downturn yet

    Sunday, February 22nd, 2009

    When will we hit bottom with this economic free fall?  George Soros does not see a bottom yet.  Story is here

    The Conservative look at spending is spending that is out of control

    Saturday, February 21st, 2009

    The Conservatives do not look at spending in a Conservative way at all.  Story is here

    Night flight video

    Thursday, February 19th, 2009

    Each light represents a city.  Interesting video is here

    The US is bound by treaty to prosecute War Crimes REGARDLESS….

    Wednesday, February 18th, 2009

    Regardless the circumstances the US of A is bound by treaty to prosecute possible War Crimes.  Story is here

    American Middle Class

    Tuesday, February 17th, 2009

    What is the Middle Class?  Story is here

    Banker’s excess pay = precoursor to economic downturn?

    Tuesday, February 17th, 2009

    Interesting graph and question of what it means.

    I wonder if it is the draining of the cash out of the system which results in the economic downturn in that they are not truly building businesses but rather they are investing in stocks with their money.  We are told when people invest in stocks that helps business…welll if I owned JoeWo Inc and put 100 shares out there on an IPO with NASDAQ and sold them all at $10 per share that is $1000 that I just raised.  Now how does the fact that my stock went to $20 a share the next day help me….how does it hurt me that my stock went to $0 per share on day 3 other than the fact it would get delisted and I would have a hard time re-listing it possibly.  hmmmm  I have never understood how that worked to the benefit of JoeWo Inc but rather solely to the benefit of the person hat bought the stock and then sold it for a profit or loss.  If there is a benefit to me at JoeWo Inc then it is investing…if it is solely to the benefit of the person buying and selling my stock then it is gambling legally.  hmmmm

    So if they are investing in stocks that only benefit them then the Trickle Down Theory of Economics is a bunch of crap because they were only benefitting themselves.  Nothing was trickling and the benefit and profit was held by few which could very well cause an economic catastrophe in our nation which is based on many have a respectable amount as opposed to a very small # being engorged with all.

    What was worse 9/11 or our economic problems?

    Tuesday, February 17th, 2009

    So who is the real terrorist?  Story is here

    A map of where the stimulus money could be spent

    Wednesday, February 11th, 2009

    Map is located here

    A list of projects is located here

    A few financial debacle links

    Wednesday, February 11th, 2009

    America was hours away from total financial collapse and the inevitable political collapse as a result last fall
    Video is here

    The banks that failed has 4 execs take $121 million in bonuses and 700 execs made at least $1 million each in bonuses.  How is this not Corporate Socialism at its worst?
    http://www.msnbc.msn.com/id/29137662/

    Brave New Films releases a short on the financial crisis
    Video is here

    So the moral of the story is-  Remove regulation and you have a sweet steroid induced overheated runup for a decade and then inevitably the nation almost implodes completely…taking the rest of the world with it as bad debts which were bad to begin with are sold to suckers.  The US financial industry has been artificially kept too strong strong and this is the result.  The 30s Great Depression is a mirror of this debacle. Wait until oil is no longer traded with US Dollars….that will be our final nail in the coffin.

    So how is this not a crime?

    Wednesday, February 11th, 2009

    Story is here

    Cuomo said four executives at Merrill alone received bonuses totaling $121 million. Nearly 700 employees received a bonus of at least $1 million. The letter did not disclose names of the bonus recipients.

    Cuomo said in the letter that Bank of America, whose deal to acquire Merrill closed Jan. 1, was apparently complicit in the move to award bonuses before Merrill’s fourth quarter earnings were announced.

    Soooo Merrill Lynch’s bonus handout was moved up before the earnings (loss) report came out and the need for the company to be bailed out.  Now some companies have moved their dishing out of Options and Stock to another fiscal period to make the books look better but those companies have been charged with crimes as that is called cooking the books.  So how is the advancing of bonus payments not the same as moving of Options to another fiscal period for whatever reason.  Isn’t this also cooking the books and isn’t this also worthy of a criminal investigation?

    MoveOn.Org email/letter/question/statement to the banking titans who have destroyed our economy.

    Monday, February 9th, 2009

    MoveOn.Org has a place where you can send a message to the banking leaders who are going to Congress.  Here is the message I sent them.

    America does not believe you are being a good citizen nor are you acting in any sort of fiduciary way with our money.  The repeal of the laws put in place after the Great Depression were repealed in 1995 allowing the Derivative based Casino Gambling excursion you have led us on resulting in millions of people losing houses and jobs.  You are bad citizens in that you care not for the masses but yourselves only.  However the word “shame” has been removed from your lexicon only to be replaced by the word “greed”.  Acquiring personal wealth is all you care about resulting in the loss of personal wealth by others.  If there is a justice system left in America as opposed to a court system as the two are often times mutually exclusive, you will be forced to live for one full year at minimum wage with nothing more than the clothes on your back and a paycheck that does not stretch to the end of the month.  Since acquiring wealth is the only thing you understand, how about living without it for a full year as a sentence?  If there is justice this is what you will see.  America says shame on you…but that is whistling in the wind…and now we must clean up your mess as you created wealth for you and a mess for us and the world.

    Obama’s audio drops

    Monday, February 9th, 2009

    Oh dear!!!!
    What will come of this?  Obama won a Grammy for his reading of his own book ya know.  Sounds like some parts of the book were sliced up and put here.  I am sure this is going to be the next Reverend Wright issue that will be replayed 100000 times on FOX.  Story is here

    Paul Krugman holds court on the stimulus and owns everyone!

    Monday, February 9th, 2009

    Paul Krugman knows history and he knows economics…he won the Nobel Prize for it.  Video is here

    Crystal ball for companies that will fail this year

    Monday, February 9th, 2009

    Big companies that may fail in a big way in 2009.  Amazing!  Story is here

    So technically is Obama the first African-American President?

    Sunday, February 8th, 2009

    They are picking too many nits but ehh it is kind of fun to do so…  Story is here

    Executive pay is way out of control

    Sunday, February 8th, 2009

    In 1960, the ratio of CEO pay at large companies to that of the president of the United States was about 2 to 1. In 2007, it was more than 20 to 1. In 1980, executives at large companies made about 40 times what the average worker made. Last year, CEOs made about 360 times more than the average worker.   Story is here

    Limbaugh, Hannity and the GOP and their triangle of stimulus misinformation.

    Sunday, February 8th, 2009

    On any given day during the current congressional debate over the economic recovery plan, chances are good that Rush Limbaugh or Sean Hannity will say something false about the administration’s or congressional Democrats’ efforts to pass a bill. And they do not promote these falsehoods in isolation; they are often promoted concurrently with each other and with Republican members of Congress. President Obama reportedly chastised congressional Republicans for “listen[ing] to Rush Limbaugh,” and, as Media Matters for America has pointed out, Limbaugh has also demonstrated a proclivity for listening to — and parroting — congressional Republicans. For his part, in consecutive shows on January 30 and February 2, Hannity hosted Sens. Mitch McConnell, Tom Coburn and John McCain on his radio show, and on February 4 he hosted Rep. Mike Pence on Fox News. As a result, Hannity and Limbaugh have created an echo chamber of Republican talking points and misinformation criticizing the economic recovery plan. And given the acknowledgment by some national journalists that they pay attention to Limbaugh and Hannity, it follows that they care what the two are saying about the stimulus — CNBC anchor Erin Burnett said as much about Limbaugh, touting his op-ed in The Wall Street Journal on that topic as “serious.”  Story is here

    Living on $500,000/yr is so hard to do! Let’s have a telethon for these people!

    Sunday, February 8th, 2009

    I am going to stand on sidewalks and collect change for the poor bankers that might have to live on $500,000 per year.  Maybe I will adopt one like they do with the orphans in Africa.  Story is here

    Hypocritical Romney attacks Obama on abortion

    Saturday, February 7th, 2009

    Ironic how the “Right to Life” does not include food, health care, housing, education.  It is only your right to be born according to them.  Once you flop on the floor in a gloppy mess get up and pull yourselves up by your bootstraps!  Story is here

    The the New Deal and the Republican Great Depression of the 30s had is the same a what the Republicans are doing now with the Stimulus Plan.

    Friday, February 6th, 2009

    I think Paul Krugman should simply play his Nobel Prize winning Economist card here.  Story is here

    Who is to blame for Bush and his criminal group?

    Thursday, February 5th, 2009

    Maybe Bud Selig and Major League Baseball?

    TORONTO, ONTARIO – As some people search for the correct place to put
    the blame for the economic crisis gripping the world, there’s a pretty
    good explanation going around. I first heard it on the Brian Copeland
    Program, and its origins seem to date back at least to a Gail Sheehy
    column in Vanity Fair in 2000. The thesis? It’s all Bud Selig’s fault.

    Back in 1994, Bud Selig, then owner of the Milwaukee Brewers, was the
    acting commissioner of Major League Baseball after the owners had
    ousted Fay Vincent in 1992. It was thought that the owners were going
    to find a permanent commissioner and George W. Bush, then an owner of
    the Texas Rangers, was a potential candidate. As reported in Sheehy’s
    column, Bush wanted to be the commissioner of baseball more than
    anything else in his life, and when he was approached by Texas
    Republicans about running for governor, he initially put them off,
    thinking that he was in line to become the commissioner.

    Bud Selig had other ideas–he wanted the permanent position for
    himself. The temporary commissioner held on to his post during the
    1994 strike, had himself elected permanent commissioner in 1998, and
    now will apparently serve until 2012–if he even steps down then,
    since he had previously agreed to step down in 2008.

    As revealed in Vincent’s 2002 autobiography, it was only after former
    commissioner Vincent told Bush that Selig had no plan to propose Bush
    as commissioner that the future president took the governor’s race
    seriously. Bush defeated Ann Richards in the Texas governor’s race in
    1994, went on to run for president in 2000, and we all know what
    happened from there.

    Had Bud Selig stepped aside to let George W. Bush take the job he had
    always wanted, that of commissioner of Major League Baseball, he would
    not have run for governor of Texas. He would not have been in a
    position to run for president in 2000. World history would have been
    different in the ensuing eight years.

    So, need someone to blame for the economy? Try Bud Selig.

    Rundown of blame for the Mortgage Meltdown

    Wednesday, February 4th, 2009

    This book review provides a quick outline of who is to blame for the Mortgage Meltdown however in the review they did not include the Republican anti regulatory thought of the time which allowed banks and investment houses to meld and become a steroid fed circle of cash in and cash out coupled with the thought of making a dollar of profit despite what logic and history say.  That lack of regulation that existed since the Great Republican Depression of the 30s was implemented back then for a reason…so this could not happen again.  that regulation was repealed and guess what…it happened again. Many right wingers believe all regulation is bad.  Regulation often times stops your accelerator from going all the way to the floor because when you floor your engine for an extended period of time you destroy your engine.  America’s engine is destroyed now because we went to fast for too long without the regulation of having to ease back.    Story is here

    They are blinded by piles of money as to what a paycheck truly represents.

    Wednesday, February 4th, 2009

    hahahahah- Do they even hear what they are saying?????  Their companies are in ruins.  This quote below proves that the pay scale for executives is not merit based and is more of a handout of Socialistic type rather than a Capitalist “work for your dollar” mentality.  A Communistic workplace would have all making the same whereas a Socialistic workplace would simply be a handout not based on work but possibly a graduated pay scale and those getting the top not necessarily earning it.  Despite my lack of knowing a hard and fast line between this being a Socialist or Communistic scenario these people making this money (as they do not earn it) are Socialists expecting to live on the giving flow of the treasury of the company as opposed to the outcome of a sweat based workplace.  This quote….just…amazes me….and WHAT is a compensation consulting firm?!?!?

    “That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”

    Mr. Reda said only a handful of big companies pay chief executives and other senior executives $500,000 or less in total compensation. He said such limits would make it hard for the companies to recruit and keep executives, most of whom could earn more money at other firms.

    “It would be really tough to get people to staff” companies that are forced to impose these limits, he said. “I don’t think this will work.”

    Story is here

    What has been the biggest spending bill in history?

    Monday, February 2nd, 2009

    What has been the biggest spending bill in history?  Video is here

    Disgorgement

    Monday, February 2nd, 2009

    The forcing of the Wall Street Fat cats to refund their massive bonuses after destroying their companies and having the US Taxpayer bail them out.  Story is here