Terrible Development! Ridiculous Compromise yet again!

This is standard operating procedure. The usual Washington two-step and kicking the can down the road. This compromise is not worth the paper it is printed on, and does not solve anything. In fact, all it is going to do is add to the gargantuan problem of fiscal insanity. In addition, our elected officials seem to be allowing the global financial cartels to blackmail them into a deal to protect their bottom line at our expense? We have the credit rating agencies threatening a downgrade, China frothing at the bit, and other financial entities firing warning shots over the bow. To me, this whole situation seems to be a lot like extortion? Mafia style strong arming.

Unfortunately, the politicians are taking the bait and quivering at the threats being lodged in their direction. Instead of doing what is right and throwing a wrench in the engine that is astronomical debt, excessive financial exposure to foreign governments and international financiers, and monolithic spending; we are being held hostage by this. This may be the only opportunity to get things right, and before absolute economic paralysis?

I say let the default happen, a credit downgrade, or whatever the doom and gloom scenario being tossed around happen. The word trillion is being used like it is simply pocket change, but we are talking about unfathomable amounts of money in debt and spending. Who is going to pay for all of it, and how? We have no industry, decent economic output, and unemployment only seems to be getting worse instead of better. It is insanity.

If the government continues on this course? It will destroy the currency, lead to hyperinflation, social chaos, and economic paralysis. It will make the Depression of the thirties feel like a walk in the park. I have a bad feeling about this one, and what is to come. This is not a compromise, or a ace in the pocket, but a simple move to buy more time and to earn political brownie points. The problem remains, and the mortal wound continues to fester.

reply to post by SaturnFX

Except the flat tax won't work...someone making a million a year can still live very happy pulling home $600,000. Someone making 30k a year will be massively struggling already, much less if you took away 40%, or evern 14%.

I've posted my idea for taxes in other threads, but in simplest terms I think there should be a flat tax of 15% on all income over $25k per adult and $12.5k per dependent child. For a family of 4, that means no income tax on the first $75k earned, and 15% on everything earned above that.

However, this means doing away with EIC, and other loopholes and tax credits. So, while they won't be paying taxes, they also won't be getting big refunds at the end of the year.

As an example, last year my family of 4 made approximately $45k, and we got back all the money we paid in, plus an additional $3k! Of course I spent it, but I could have lived without it, and I would prefer giving that money to the government and not raising the debt ceiling!

As another example, I do book work for a no-profit. We are tax exempt. We didn't pay a dime in Sales tax or Income tax for 2010, but we are getting a tax credit refund of $2200 because we pay a portion of the health insurance for our employees. It was not the incentive in paying the health insurance, we would have done that anyway. It was not part of the budget plan, it is just a surprise refund. We don't need it. We'll take it, but we don't need it, and it would be better served going toward the National Debt!

That is just my little slice of examples, imagine how much wasteful money the government pours out, when it could just simplify the code, make everyone pay their fair share, less than they pay now, and then stop giving out free money, and have far more overall revenue to budget with? These folks getting elected are supposed to be the best and brightest; why can't they see the simple solutions?

Are we forgetting that the Globalist plan . . . is to lower the living standards in the west. This is how they are doing it in America. In other European countries they are doing it differently, but this is going on all over the western world.

They are resigning our children to a poverty we never have known.

I could recall in the early eighties at GM we use to think about the 30 hour work week, 7 hour day, and making progress for the middle class; now things are going backwards.
;

reply to post by SaturnFX


not so how many millions of americans have ever gotten a chance to stick to the feds?


how many millions of ameircans have gotten a chance to stick to a corporation as in a bank and didnt pay a credit car off or a car repod etc?


whats coming down the pipe from the feds is just another day in a long line of days that continues to screw us over.

but nothing says we have to agree

Senator Lee threatening to filibuster the vote!!

There is some decent news!

The House has pushed the vote back until tonight, and Joe Biden has been dispatched to try and sway some votes.

It seems the public outcry might actually be having an effect for a change!!

Passage in either chamber is far from assured. Some Republicans are objecting to the possibility of steep cuts in defense spending, while others continue to oppose any debt-ceiling increase. Liberal Democrats think the so-called compromise was more like a cave-in.

Outside groups were weighing in as well. The conservative Club for Growth said it "strongly opposed" the legislation and would include the vote in its ranking system used to determine endorsements.

LA Times source

Let's use an alalogy here.

The Tea party is barely out of its infancy. Like most toddlers they explore and see what they can and cannot do. The Republicans are still looking over them, but the Tea Party more and more disagrees with them every day. The Republicans think the Tea Party doesn't know what they're doing, but as any parent knows, kids can surprise you all the time. If the Tea Party can stand their ground, they will win, we will win and they will be legitimized, man-hood if you will.

I'm sick of all this shiftiness in Washington. People looking out for their re-election by going against everything this country was founded on. The tea party needs to cut its ties with these RINOs entrenched in Congress. I believe there are three things the powers that be in Washington are trying to accomplish with this bill and with how it was handled, and it was all done with the Republicans and Democrats skipping down the aisles of congress hand in hand.

1. Re-election
2. De-legitimize the tea party
3. De-legitimize the American People

IMO the whole debt ceiling debate was a huge hoax. The puppeteers knew exactly what the outcome was well in advance and the drama has been played out for the benefit of duping the public into believing there was some kind of debate - to keep alive the Dem/Republican lie as well.

The people would have benefitted infinitely more from a default, and the banksters would have suffered, therefore it was never going to happen, because the country is run by private banksters - not the people, not the government, but an odious private banking cartel which is accountable to no-one and which is reeking havoc the throughout whole world.

Until people really grasp this fact, they will keep fighting the paper windmills put forward as diversions by the puppets of the same odious banksters.

The Federal Reserve has to go....otherwise it will just continually be more of the same, and the lives of future generations will simply be that of financial, physical and psychological slavery.

Originally posted by neo96
reply to post by SaturnFX

 

not so how many millions of americans have ever gotten a chance to stick to the feds?


how many millions of ameircans have gotten a chance to stick to a corporation as in a bank and didnt pay a credit car off or a car repod etc?

You can fire the people in the fed...that is sticking it to them pretty good.
You can't fire the corps, banks, etc...don't pay your car (stick it to them) and you lose your car, don't pay the rent and your on the street, etc...you simply cant stick it to the corporation without sticking yourself.

Feds are far more vunerable...voting them out gives temporary (illusion of) hope..

reply to post by SaturnFX


Except right now, don't pay your mortgage, and you will likely get away with it for many many years, and possibly forever! The major banks are not able to foreclose at the moment, and even if they sort out their paperwork issues, the market is still saturated with distressed home sales, so there is no incentive for the bank to foreclose, because they can't sell the asset.

This is a perfect time to stick it to the banks!!

ETA:
Also interesting to note from the earlier article.......

But fellow Floridian Marco Rubio, a rising Republican star, is among the handful of early declared no votes.

Marco Rubio is an excellent Presidential Candidate. He hasn't declared, and many people think he is waiting for 2016, but I think we need him front and center right now!

reply to post by getreadyalready


i'm not so sure it will pass. it seems they may have jumped the gun declaring that. neither side is thrilled with it. it does nothing to solve our problems, and may cause serious inflation.

i think we're going to see markets fall pretty sharply today and tomorrow.

reply to post by getreadyalready


Too low
It would have to be the upper value, flat tax of say, 35% across the board if your going to do it, and cut the hell out of programs to its functional minimum.

We need to pay down and eliminate the national debt...and reducing the income will have the opposite effect.

Your post brings up a great point that our kids and grandkids, and great grandkids will not have the survival skills neccesary to deal with the crisis they are going to inherit.

SO TEACH THEM!

A lot of them will not listen, I know my kids (19 and 23) think I am a crazy conspiracy theorist when I talk to them about national and global crisis preparation.

For those with the younger kids teach them the skills now that you wish you would know in a similar situation.

Do you take your kids to the mall and buy them clothes at Macy's and Dillard's? Give em 40 dollars this fall and send them to the good will to buy their back to school clothes. Make it fun, not embarrassing.

Volunteer with them in a giving environment like a soup kitchen or an outreach program. If and when they needs resources they will have first hand knowledge, skills and contacts.

Take them camping, teach them to hunt and fish.

Teach them to cook and be frugal! Did you know you can buy a whole chicken with the bone in (already butchered) for a couple of bucks while a pack of chicken breasts cost $10.00? If you can cut, bone, and prep your own meats you can have meat every night and it is affordable. The convenience of a butcher cutting it all up for you costs money.

If you are willing to take the time to cook (instead of expensive and nutritionally deficit microwave and fast foods) you can be healthy, eat great and save a lot of cash.

We have to prep the next generation for what is coming.

SIDE NOTE! Entrepanuers should be going crazy with ideas regarding the state of things in 10, 15, 20 years. There is gonna be a lot of changes and a lot of opportunity. Teach the kids how to avoid getting ripped off. Those are lessons my kids were willing to listen too.

reply to post by SaturnFX


voting them out didnt solve anything when obama took over from bush or when the republicans took control of the house.

same ole crap different day.

you can fire a corporation easily dont like em just go buy from someone else or non name brand or go to a flea market lots of ways to stick it to them.

back to the point aint nothing you or i can do to stick to the federal government,.

Originally posted by getreadyalready
reply to post by SaturnFX

 

Except right now, don't pay your mortgage, and you will likely get away with it for many many years, and possibly forever! The major banks are not able to foreclose at the moment, and even if they sort out their paperwork issues, the market is still saturated with distressed home sales, so there is no incentive for the bank to foreclose, because they can't sell the asset.

This is a perfect time to stick it to the banks!!

Banks won't forclose???

You need to come to my area. They forclose here, my friend. You may stay in your house for a few months or a year but when the paperwork is done you are given a notice to vacate.

It is false bravadoo-doo like this that encourages some to act foolshly. If you have a home and a family, DO NOT follow this type advise. I have five homes around me that are EMPTY because of forclosure.

Originally posted by getreadyalready
reply to post by SaturnFX

 

Except right now, don't pay your mortgage, and you will likely get away with it for many many years, and possibly forever!

Ya, tell that to my sister. Divorce, money issues, no payment for a few months, she is now renting and the house is going away in a couple weeks.

So...ya, thats a myth..firsthand knowledge of that

reply to post by romanmel


Like those idiots that take advice from others about how you don't need to pay taxes, then find yourself in the pokey and all but bankrupt

Snipes and Nelson can attest to this line of thinking verses reality.

reply to post by romanmel


Banks will bully and try to foreclose, but it takes very minimal effort to stop them in their tracks. Attorneys in Florida have completely stopped all foreclosure proceedings. Many banks, like Bank of America have stopped all foreclosure actions while they await some legislative help, because their current paperwork is insufficient to proceed. I attended a Mediation hearing for my brother over a year ago, and the bank sent a flunkie that was unprepared and not trusted with any decision making authority. The hearing officer was appalled, didn't take any action, gave me some advice for fighting the bank if they try to pursue any further action, and the bank has not contacted him a single time since the mediation.

It isn't bravado, it is fact. The vast majority of mortgages are legally insufficient for foreclosure purposes, and just exercising your right to mediation and/or hearing is enough to stop the banks from pursuing anything.

I know at least 3 attorneys that are still undefeated since 2007 in foreclosure hearings. I know people that have been renting their homes out for over 3 years without making a mortgage payment. They are putting the money into escrow, and when the bank finally decides to settle, they will pursue a short-sale agreement, and use the escrow money to buy down the debt and reaffirm, or in some cases, possibly pay cash for their own properties!!

Like I said, it is the perfect time to stick it to the banks!

ETA:
Also, call the State Bar in your area. They are making attorney referrals, sometimes at no cost whatsoever. I have attended several bar meetings in Florida, and the mortgage crisis is always at the top of the agenda and the attorneys are loving it. The banks are powerless until they get some Federal legislative help. The Robo signatures, digital notaries, loss of original paperwork, and bundling of mortgages into REIT has made it impossible to foreclose.

It only works if you exercise your rights though. Don't take the banks word for it!!

reply to post by getreadyalready


Don't worry this will all crash and burn in our lifetime. It can't be sustained for another decade. So the problem will not be left to our children and grand children. It will have to be dealt with in the next few years like it or not. How we deal with it will determine if we doom our progeny or not...

Originally posted by SaturnFX
reply to post by romanmel

 

Like those idiots that take advice from others about how you don't need to pay taxes, then find yourself in the pokey and all but bankrupt

Snipes and Nelson can attest to this line of thinking verses reality.

You got that right!

Be careful who your advisors are, especially in times like these.

Jeez this crap just makes me want to spew vomit on politicians til my belly is empty!!! WE HATE YOU GUYS!!!! Can you hear me CIA? FBI? We don't want you anymore!!!!! OF the PEOPLE, FOR the PEOPLE and BY the PEOPLE dangit!!! How about we put a monthly payment cap on house and auto loans? Gettin rid of 2% fees just to use a CC at the SOS, cut the politicians salaries? Its called public SERVICE!!! No more career politician's, no more guaranteed retirement after leaving federal office. I am an American citizen dammit, YOU WORK FOR ME, not the other way around. Get your head out of your rear end!!! I apologize for my rant here, but I am so frigging sick of this crap. As someone already stated, we have the means, we have the technology for precision strikes, no need for full scale war anymore (I'm a vet dangit, I'm tired of seeing my brothers and sisters in coffins!!!!) I am so ashamed I EVER worked for a glutinous govt contractor. Have fun in your dam COG Bunker, you best believe ill he waiting for you when you get out. If not me then my kids, one way or another there shall be a reckoning!!! And the more you schmucks dilly dally and screw the American people, the worse it will be. I loathe violence, but dangit there comes a time in everyone's life they must stand and fight. You think you doughy politicians will last against all of us? BAHAHAHAHAHAHAH, in your cushy dreams....only in your cushy dreams