- JMH Arms sales have always served multiple functions. Valuable t...
- jmh One factor you may be underestimating: Mans' unquenchable de...
- James Howard Kunstler Of course, everything flows from that assumption. If...
About Us
What if there are no other cognizant life forms anywhere? What if humankind is the lone sentient species in the universe?
“Sentient” is defined as beings or species that build things, communicate by writings or phones or possess similar technological capacity. Trees and plants, for example, are certainly living organisms and an integral part of the Earth’s construct. However, it is generally accepted that trees are not sentient. THE 2012 UNITED STATES NATIONAL ELECTION
Posted on May 30, 2012 in We are all distressed at what we consider “abuses” in our entitlement system. Everyone has antidotal examples of generational welfare reliance. There is clear documentation of public employees maximizing their retirementsby working excessive overtime during the last three years upon which their pension is based. This is entirely legal. Constrution workers have for decades worked during the summer and gone on unemployment every winter. They represent that they are looking for work such that they meet the unemployment criteria. If there is a flaw in the administration of that system, it should be addressed. Otherwise, they are simply doing that which is legal and is in their best interests.
At a higher level of opportunism, Romney, Buffet and Gates pay taxes at a 14% rate. Apple paid a 9.8% rate on income of billions due literally to laundering their income through multiple, traceable, legal out of country accounts. GE paid no taxes on their 2010 income. All these tax liabilities were lower than what would be expected due to what are called “loop holes” in the US Tax Code. What all the above actions have in common is that they are all legal. The moral to the story is that every private person, every private corporation does that which is in its best interest. Every person and corporation seeks to maximize all the opportuniteis the law allows. This is human nature.
The question is “What is the best solution?”. It appears, according to Romney, Ryan and Grovner Norquist, reducing social benefits as well as earned and negotiated contractual entitlements while not touching the tax code other than reducing tax assessments is the promoted Republican Plan. The Democrats take the position, apparently, that modifying tax loop holes on capital gains, oil subsidies, off shore bank and investment accounts, special corporate provisions together with increasing income taxes, particularly on the higher wage earners, is the route to take.
The 2012 election will set the course the country will follow. It will likely go a very long way in defining the future rights, prospects and possibly even the continued existence of the middle class. Obviously, no one knows exactly what the future will bring. Either path brings with it significant unknowns and risks.
One Response to “THE 2012 UNITED STATES NATIONAL ELECTION”
Leave a Reply
You must be logged in to post a comment.
Every time the European Union has reached a crisis point on the debt carried by Greece or Spain, EU leaders, especially German Chancellor Angela Merkel, have come to the rescue with bailout funds. That money goes to the banks that own Greek and Spanish debt, whose holdings would take a hit if either country were unable to repay. But the bailout comes with harsh austerity requirements intended to encourage budgetary discipline, so it’s ordinary citizens who end up taking the hit. The most vulnerable populations are harmed by the bailouts.
The well-paid financial professionals who made the deals to finance Greek and Spanish deficits in the first place continue profiting handsomely.
“Imposing pain on Greeks is … a blood price for the ever-repeated bailouts whose actual beneficiaries are in fact French and German bankers,” said Galbraith.
Corporate profits in the financial industry remain above even the levels reached at the height of the housing bubble, according to Commerce Department data. And elites on both sides of the Atlantic have secured generous tax breaks, made possible in part by cuts to social programs. Bush’s tax breaks for the wealthiest citizens were extended, while unemployment benefits and food stamps have gone on the chopping block.
The austerity policies implemented after the financial crisis have proved to be a losing proposition for the global economy. The strong economic growth that austerity advocates predicted has not materialized. The United States has shown only anemic improvements, and European countries sliding back into devastating recessions.
By Zach Carter, Huffington Post, 7-24-12