Wednesday, November 29, 2017


"Finally, by putting a $1.5 trillion hole in the budget, the tax 

plan will accelerate demands for slashing Medicare, Medicaid 

and Social Security, together with other forms of social 

spending, to plug the gap."

OBAMA’S CRONY BANKSTERISM destroyed a TRILLION DOLLARS in home equity… and they’re still plundering us!
Barack Obama created more debt for the middle class than any president in US history, and also had the only huge QE programs: $4.2 Trillion.

OXFAM reported that during Obama’s terms, 95% of the wealth created went to the top 1% of the world’s wealthy.

The US tax bill: A massive handout to the financial elite

18 November 2017
On Thursday, the US House of Representatives passed a sweeping bill that will slash taxes on the wealthy and hike taxes on millions of working class households, in a move that will further fuel social inequality in the world’s most unequal developed country.
Since the 1960s, the slashing of top income and corporate tax rates has been a major driving force in the phenomenal growth of social inequality in the United States. Now, under the fascistic billionaire real estate mogul Donald Trump, this process is being kicked into overdrive.
The centerpiece of the bill is the reduction of corporate tax rates by almost half, from 35 to 20 percent, at an estimated public cost of $1.5 trillion, making US corporate taxes the lowest since 1939. This will dramatically accelerate the fall in effective corporate taxes that has taken place since the 1950s, when the effective tax rate was 50 percent, to today, when it is less than 20 percent.
Next, the financial elite is salivating over the abolition of the estate tax, which the bill mandates by 2025, providing a massive windfall to the top 0.2 percent of households.
According to a report published last month by UBS, more than half of all billionaire wealth in the US is controlled by individuals older than 70, and the US financial elite has been waiting for the abolition of the estate tax to transfer its wealth to the next generation. The abolition of the estate tax would be a major step toward making the United States a hereditary oligarchy, in which wealth is passed down dynastically without any diminution.
According to the non-partisan Joint Committee on Taxation, under the Senate version of the bill, by 2027 every family earning below $75,000 per year will see a tax hike, and every family making above $100,000 per year will see a tax cut.
The bill includes provisions that are little more than cruel and insulting. Alongside a tax break for the ownership and maintenance of private jets, it mandates the elimination of tax deductions for graduate student stipends and tuition reimbursement. The Harvard Crimson wrote that the result would be a 400 percent tax increase on graduate students, who are often massively underpaid.
Finally, by putting a $1.5 trillion hole in the budget, the tax plan will accelerate demands for slashing Medicare, Medicaid and Social Security, together with other forms of social spending, to plug the gap.
While Democratic politicians mouthed criticisms of the Republican-sponsored bill, its most important measure, the corporate tax cut, has been a major element in the Democratic playbook. The Obama administration’s 2016 budget, for example, called for lowering the corporate tax rate to between 28 and 25 percent.
The New York Times, a leading mouthpiece for the Democratic Party, wrote in an editorial this week, “The Right Way to Cut Corporate Taxes,” that “Republicans are right about the corporate tax system being broken.” The newspaper added, “If Republicans worked with Democrats… they could reach a compromise to lower the top corporate tax rate to between 25 percent and 28 percent.”
On Thursday, the Times and leading Democratic politicians were far more concerned with whipping up a series of sex scandals, centered around Republican Alabama senate candidate Roy Moore and Democratic Senator Al Franken.
As expected, all three US stock indexes soared on Thursday following passage of the bill by the House of Representatives. Since the election of Donald Trump, the Dow Jones Industrial Average has shot up by 17 percent, and it has more than tripled in value since the 2008 financial crash.
In an interview last month, US Treasury Secretary Steven Mnuchin made clear that a major driving force in the run-up in prices has been the expectation that the Trump administration is going to slash taxes on corporations and the super-rich.
“There is no question that the rally in the stock market has baked into it reasonably high expectations of us getting tax cuts and tax reform done,” said Mnuchin. “To the extent that we get the tax deal done, the stock market will go up higher.” He also made clear that Wall Street would not accept any slowdown in the upward redistribution of wealth. “There’s no question in my mind that if we don’t get it done, you’re going to see a reversal of a significant amount of the gains,” he said.
The comments by Mnuchin, the former Goldman Sachs banker worth nearly half a billion dollars, are just one expression of the stranglehold of the financial elite over political, social and economic life in the United States. The first and last priority of American society is the continuous enrichment of this financial oligarchy.
The United States is the most socially unequal developed country in the world. Just three men— Bill Gates, Warren Buffett and Jeff Bezos—have between them more wealth than the bottom half of the American population. The world’s billionaires have had their wealth shoot up by $1 trillion over the past year, driven by central bank money creation, tax cuts and incentives, and the continuous assault on the social position of the working class.
The domination of the financial elite, in the United States and around the world, over human civilization is the root cause of every serious problem of modern society, from poverty, homelessness, and drug addiction, to war. The ending of these evils requires the radical transformation and reorganization of society in the interest of social needs, not private profit.
Andre Damon

THE ENDLESSLY HISPANDERING DEMOCRAT PARTY funded by Wall Street’s biggest criminals says it is “ALL NEW”…. 

Meaning open borders to keep wages depressed and no regulation of plundering banks!

It’s Obama’s wet dream!

"The Dodd-Frank bill, which created it, was an effort by the Obama administration and the Democrats, who then controlled Congress, to pretend to crack down on Wall Street while actually doing very little."

Democrats posture as opponents of Wall Street in CFPB dispute

By Patrick Martin
28 November 2017
In what can only be described as a stage-managed publicity stunt, the director of the Consumer Financial Protection Board, Democrat Richard Cordray, resigned abruptly on Friday after promoting his chief of staff, Leandra English, to the long-vacant position of deputy director.
English then declared herself to be Cordray’s successor and acting director, under the provisions of the Dodd-Frank bill, which established the CFPB in 2010 to act as an extremely limited, essentially toothless consumer watchdog on the depredations of US financial institutions.
The Trump White House, momentarily confused by the maneuver since Cordray had been expected to resign a week later, hastily named Budget Director Mick Mulvaney the acting director of the CFPB, and instructed English to report to Mulvaney as his deputy.
On Sunday night, English filed a civil lawsuit with the US District Court for Washington DC, seeking a declaratory judgment that she was the rightful CFPB director. However, the CFPB’s own general counsel, Mary McLeod, issued a memorandum to the agency’s employees instructing them that Mulvaney, as the nominee of the president, had the legal authority to direct the agency.
On Monday, Mulvaney visited the CFPB and took possession of the director’s office, announcing that he was halting all new hiring and regulatory actions for 30 days, pending a review of the agency’s operations.
While the 1,600 employees of the agency are concerned about an imminent threat to their jobs and livelihood—Mulvaney is an open enemy who, while in Congress, described the CFPB as a “sick joke” and advocated its abolition—the actions of Cordray, English and their Democratic congressional supporters are purely a political stunt.
There is little doubt that Trump has the authority, as president and head of the executive branch, to name interim replacements for vacancies at any executive agency. This authority is further codified in legislation enacted as recently as 1998.
The CFPB has been the subject of political posturing by both Republicans and Democrats since it was established six years ago in the wake of the 2008 Wall Street Crash. The Dodd-Frank bill, which created it, was an effort by the Obama administration and the Democrats, who then controlled Congress, to pretend to crack down on Wall Street while actually doing very little.
The Republicans, for their part, treated the CFPB as the second coming of the Bolsheviks, claiming that the tiny agency, with little enforcement power, was a threat to US financial markets and to the capitalist system itself.
Each capitalist party has used the agency for its own political purposes, while the CFPB itself has been nothing more than a minor annoyance to Wall Street. In six years of operation, it has been responsible for fines and restitution to consumers totaling $12 billion, or $2 billion a year. This amounts to barely one percent of the net profits of the US financial industry ($173 billion in 2016), and less than one half of one percent of bank revenues alone (over $400 billion and rising every year since the 2008 crash).
Cordray’s own role personifies the uses of the CFPB as a political cover. He was named to head the agency after Obama caved in to Republican opposition to Elizabeth Warren, his initial choice. Warren parlayed her undeserved reputation as a scourge of the bankers, and victim of the Republicans, into a successful campaign for a US Senate seat from Massachusetts.
Cordray’s fixed five-year term runs until July 1, 2018, so he was practically the sole Obama appointee to continue serving in the Trump administration. But he decided to abandon the post eight months early—and thus cede control of the CFPB to Trump—in order to seek the Democratic nomination for governor of Ohio. He then engineered the handover of authority to English, setting off the subsequent media firestorm, to jet-propel his own political campaign.

More broadly, the obvious determination of the Trump administration to stamp out even a fig leaf of accountability for the big banks allows the Democratic Party as a whole to adopt the stance of opposition to Wall Street.
Senate Minority Leader Charles Schumer met with Leandra English and Elizabeth Warren Monday afternoon, and then denounced Trump for “putting the fox in charge of the henhouse.” So says the paid agent of the foxes, who has received more campaign contributions from Wall Street than anyone else in Congress.

Schumer’s deputy, Senator Richard Durbin of Illinois, hailed the CFPB, declaring, “Wall Street hates it like the devil hates holy water”—perhaps uttering an inadvertent truth, since the CFPB is precisely as useless as holy water in fighting the domination of Wall Street over the US economy.



CHICAGO’S BLACK GANG LAND…. Is what happens when bankster Rahm Emanuel and his corrupt Obama party turned the city under!

The Lawlessness of the Obama Administration: A never-ending story

CHICAGO’S BLACK GANG LAND…. Is what happens when bankster Rahm Emanuel and his corrupt Obama party turned the city under!





“Obama’s new home in Washington has been described as the “nerve center” of the anti-Trump opposition. Former attorney general Eric Holder has said that Obama is “ready to roll” and has aligned himself with the “resistance.” Former high-level Obama campaign staffers now work with a variety of  groups organizing direct action against Trump’s initiatives. “Resistance School,” for example, features lectures by former campaign executive Sara El-Amine, author of the Obama Organizing .”

“If the Constitution did not forbid cruel and unusual punishment, the sentence I
would like to see imposed would place both Bill and Hillary Clinton in the same 8-

THE DIRTY DEALS of DIRTY HILLARY….. looting anything that moves!

Harvey Weinstein has been exposed in the media as the sexual predator he is, and Hillary Clinton has been exposed as the craven money-grubber she is; money over morality is the mantra she lives by. PATRICIA Mc CARTHY – AMERICAN THINKERcom
 "But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now."  ----  Patricia McCarthy -

US Senate committee passes tax windfall for the rich

By Barry Grey
29 November 2017
The Senate version of the Republican bill to slash taxes for corporations and the rich won approval on a 12-to-11 party-line vote of the Senate Budget Committee on Tuesday, setting the stage for its likely passage by the full Senate later this week. The House of Representatives passed a similar measure, also on a party-line vote, earlier this month.
Congress, backed by the Trump White House,
is hurtling toward the implementation of the 
most brazen and far-reaching corporate raid 
on the federal Treasury in US history. The 
measure being rushed through Congress, without 
public hearings and by means of legislative short 
cuts, gimmicks and behind-the-scenes horse-trading 
between political frontmen for various financial 
interests, will dramatically cut taxes for big business 
and the wealthy while increasing taxes on the 
working class.
It will reduce federal tax revenues by between $1.4 trillion and $1.5 trillion over the next decade, sharply raising the federal deficit. Republican leaders such as House Speaker Paul Ryan and House Ways and Means Committee Chairman Kevin Brady have already indicated that the increased deficit will be used as justification for laying siege to what remains of the basic social programs dating from the 1930s and 1960s: Medicare, Medicaid and Social Security.
Both the House and Senate bills reduce the corporate tax rate from the current 35 percent to 20 percent, saving corporations trillions of dollars. They also dramatically slash taxes for other business owners and wealthy families, consolidate an aristocratic caste at the very top by cutting or eliminating the estate tax on hereditary wealth, and, in general, plunder the national economy in order to further enrich the ruling class.
The tax “reform” will make the United States, 
already the most unequal developed economy 
in the world, far more unequal.
Wall Street celebrated the forward progress of the Senate bill by driving all three major stock indexes to new record highs. The Dow Jones Industrial Average shot up by 255 points, gaining more than 1 percent and closing in on the 24,000 mark. The broader Standard & Poor’s 500 index gained 0.98 percent and the Nasdaq picked up 0.49 percent.
The Budget Committee vote followed a luncheon meeting on Capitol Hill between President Trump and Senate Republicans, which Trump in a later White House appearance described as a “love fest.” Virtually all of the half-dozen Senate Republicans who have withheld support for the Senate bill emerged from the meeting signaling their readiness to back it when it comes up for a floor vote.
Two of these senators, Ron Johnson of Wisconsin and Bob Corker of Tennessee, are members of the Budget Committee and had threatened to vote against the measure, blocking it from coming up for a vote by the full Senate. Johnson has been holding out for a tax reduction for owners of so-called “pass through” businesses even greater than the 17.4 percent included in the current version of the Senate bill. A recent University of Chicago Study concluded that 69 percent of income from such businesses—where the owners pay the individual income tax rate rather than the corporate rate—goes to the top 1 percent of US earners.
Corker has demanded the addition of a trigger mechanism that would require taxes to be raised if federal revenues after a certain period fall short of congressional projections. Both said Tuesday they were confident their concerns would be addressed before a final bill is worked out between the House and Senate and signed by Trump, who has pledged to do so by Christmas.
Susan Collins of Maine, who has criticized the addition in the Senate bill of a repeal of the Obamacare individual mandate, which requires people not insured by their employer or the government to purchase insurance on the private market, said, “I believe that a lot of my concerns, it appears, are going to be addressed and that I’m going to be getting the opportunity to offer amendments on the senate floor.”
She added that Trump had pledged to support legislation restoring Obamacare subsidies to private insurers, which he had removed by executive order, if the individual mandate was repealed. The Congressional Budget Office has concluded that repeal of the individual mandate will result in four million fewer people having health insurance next year and 13 million fewer by 2027, along with a 10 percent yearly rise in premiums for those who continue to buy insurance on government-managed exchanges.
The Republicans control the Senate by a narrow 52 to 48 margin, meaning they can afford only two “no” votes from their caucus, since the Democrats are expected to vote as a bloc against the measure. A 50-50 tie would result in a Trump-Republican victory, since Vice President Mike Pence would cast the tie-breaking vote.
To avoid a Democratic filibuster and the need to marshal 60 votes, the Republicans are making use of the parliamentary maneuver of moving the bill under the “budget reconciliation” process. This requires, however, that the resulting deficit be kept below $1.5 trillion and not grow further after ten years.
To achieve this while ensuring a $6.7 trillion 
increase in corporate revenues by 2037 and 
hundreds of billions in tax breaks for the 
richest 5 percent, they raise taxes elsewhere, 
resorting to cruel tax measures that punish 
working families and end up raising their 
The Senate bill makes cuts in individual income tax rates temporary, reverting back to the current rates after five years, while corporate tax cuts are permanent. It eliminates deductions on state and local taxes and terminates tax breaks on medical expenses, student loan interest, tuition deferments and a host of other expenses that disproportionately impact low- and middle-income households.
As a result, according to the Congressional Budget Office and the Joint Committee on Taxation, on average, households making less than $30,000 will start seeing negative effects in 2019 and households making less than $75,000 will become worse off in 2027. By that time, 50 percent of Americans will see their taxes rise.
Meanwhile, according to the Center for Budget and Policy Priorities, half of the tax cuts will go to the top 1 percent of households, those making more than $700,000 a year. The top 0.1 percent will receive up to 30 percent of total tax cuts.
The Democrats are putting on a show of opposition to this naked piece of class legislation, but on an entirely cynical and token basis. The Obama administration called for a cut in corporate taxes to between 25 percent and 28 percent, a massive transfer of wealth to the corporate elite that the Democratic Party continues to support.
As part of their political theatrics, Senate Minority Leader Charles Schumer and House Minority Leader Nancy Pelosi boycotted a scheduled White House meeting with Trump and Republican congressional leaders on Tuesday to discuss extending the federal budget. The current extension expires on December 8, and without a further one, the federal government will be forced to partially shut down.
The Democratic leaders announced they would not attend after Trump issued a tweet Tuesday morning denouncing the Democrats for raising taxes, starving the military and supporting “illegal” immigration. He added that he did not believe a deal could be reached to avert a government shutdown.
Schumer was more forthright on the Democrats’ position on the tax bill when he spoke on the floor of the Senate later in the day, pleading once again for negotiations with the Republicans to work out a reactionary bipartisan compromise.
“It’s an issue crying out for a bipartisan solution,” Schumer declared. “There are a lot of areas where we agree. We have to work to find a middle ground that’s acceptable to both parties.”

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