Finally, a government can neither cut or tax its way to prosperity. The federal deficit spending equals private savings. It’s Private not Public debt that is the core of our economic crisis. Cutting spending and raising taxes removes money from the economy. We do not borrow dollars from the Chinese. Break up the TBTF banks. Have the US Treasury issue our money and not the Private Banks. The Federal Reserve is not part of the Federal Government. Stop accepting the lies of the 1% stream who own the main media; which results in you supporting your own economic destruction. Learn the facts! Walmart is not your buddy!!

The Democrats (“playing” the “role” of the good cops, but are just a different degree of bad) and the Republicans are starring in a playful farce designed to tenderize the People by inundating them with poorly designed scripts, but sadly these poorly designed scripts should be sufficient to accomplish the “immorality” of the play.

Sometime, prior to August 2, 2011 (the date that our esteemed Treasury Secretary, Timothy Geithner, has suggested will be the Armageddon date regarding the extension of the federal debt ceiling), our “leaders” will present a plan to mesmerize the People into a numbing acceptance as a coup de grace.

This presentation will include “adjustments” to Social Security, which has nothing to do with our federal deficit, but can and must be repaired as a separate matter, dramatic reductions in Medicare (this too can and must be repaired as a separate item), Medicaid, more layoffs, and a 60% (guesstimation) rollback of the Bush tax malfeasance for those with taxable incomes in excess of $250,000.

The thespian script the Republicans are following, i.e., NO TAX INCREASES, is an important piece, as it will provide the facade of them negotiating, in good faith, a resolution of the budgetary confusion. The top 0.1% of wealth-holders have fought too hard and too long to accomplish the massive shift of wealth from the middle-class to that 0.1% demographic, since 1981, to give back more than a modicum of the larceny, enabled by Congress. This thespian script is so infantile that no rational economist would sign onto it as it would destroy our economics, pure and simple. We are watching a pretend game of “chicken” and both sides (of the same coin) will “compromise”, which will be a very sad phenomenon to the United States of America.

The “rollback” is a set-up and another get-out-of-jail-free card for President Obama. When Senator Obama was competing for the nomination to run in 2008, he said that he would reverse the Bush tax “cuts” (misnomer) for those with taxable incomes in excess of $250,000. He was elected. He did not admonish Nancy Pelosi to legislate this rollback. An excellent question would be to ask the reason for his reluctance to stimulate that legislation.

The legislation was passed AFTER the November 2010 mid-term elections. Another excellent question would be to ask why it was not passed prior to this election.
I posed this question to Lori Montgomery, a reporter at the Washington Post, to which she responded that she didn’t think it could have passed the House. Her assessment was absolute nonsense.

About two months ago, after a Townhall meeting at California State University at Northridge, I asked my Congressman, Brad Sherman (D) the question. He said that there were a number of conservative Congressmen who didn’t want the vote prior to the election because they were in conservative districts. I believe that response to be nonsense, at best. I replied that the legislative effort should have been prior to the election, if for no other reason than to show the People that our “leaders” were attempting to do the right things. Further, I suggested if our leaders do the right things at the right times, they will be doing the best they can do and that is what the People beg of them.

The legislation, passed by the House after the mid-term elections, stalled in the Senate because the Republicans demanded that ALL Americans deserved the continuation of the status quo.

After a few back and forth slick dance moves, the act proceeded with President Obama signing modified legislation, which included those with taxable incomes in excess of $250,000. Although he said that he thought it wrong to continue the Bush cuts (misleading terminology) for those with T.I.’s in excess of $250,000, he signed the legislation because the Republicans were holding HOSTAGES (President Obama’s first get-out-of-jail-free card), i.e., the long-term unemployed and the taxpayers with T.I.’s under $250,000.

The ancillary phenomenon of the “hostages” concept was the extremely unattractive signal President Obama offered, i.e., all an adversary had to do was to hold a “hostage” and this President would cave.

Interestingly, during an interview, on January 25, 2010, by Diane Sawyer on ABC’s World News, President Obama said, “I’d rather be a really good one-term president than a mediocre two-term president”. The signing of the legislation did not reflect the act of a strong President who wasn’t concerned about a second term.

Thus, his handling of the 2001 Bush tax cuts (where is my Thesaurus? LOL) appears to be oxymoronic, at best. President Obama displayed his naiveté when, during the same Diane Sawyer interview, he stated, “I can guarantee that the worst thing we could do would be to raise taxes when the economy is still this weak”.

Was he naïve or complicit in the effort to enable the continuance of our inequitable taxation? He could have killed the proverbial two birds with one stone, with the stone being to, immediately, reverse the Bush tax errors and to stimulate legislation that would provide a permanent tax credit equal to 100% of the Social Security taxes, paid by an employee, up to $60,000 of wages, while the two birds would be an adjustment towards a more equitable taxation and a serious economic stimulus to our economy.

My speculation is that they (Democrats and Republicans) needed the continuation to enable the rollback, later, to paint the picture that the wealthy were contributing to the mitigation of the deficit effort, which will be presented to the People as a fait accompli. They will trumpet that the wealthy will contribute via a tax increase, which is a well planned fraud, since the 2001 tax legislation was enabled by Alan Greenspan’s lie to the Senate’s Committee on the Budget on January 25, 2001. http://www.federalreserve.gov/boarddocs/testimony/2001/20010125/default.htm

If this immorality and poor economics were accepted and ensconced into legislation, our economic woes, which I characterize as “economic erosion”, will worsen.

There are simple solutions to our economic malaise, but unbridled greed is blocking rational solutions from even being discussed.

My own Congressman, Brad Sherman (D), appears to be complicit in this Kabuki Theatre.

mz
mikiesmoky@aol.com
Last modified July 4, 2011

PLEASE READ THE FOLLOWING, INCLUDING THE CRITICAL HYPERLINK:

KABUKI THEATRE: GOOD COP, BAD COP
aka THE PEOPLE ARE BEING SET UP!

The Democrats (“playing” the “role” of the good cops, but are just a different degree of bad) and the Republicans are starring in a playful farce designed to tenderize the People by inundating them with poorly designed scripts, but sadly these poorly designed scripts should be sufficient to accomplish the “immorality” of the play.

Sometime, prior to August 2, 2011 (the date that our esteemed Treasury Secretary, Timothy Geithner, has suggested will be the Armageddon date regarding the extension of the federal debt ceiling), our “leaders” will present a plan to mesmerize the People into a numbing acceptance as a coup de grace.

This presentation will include “adjustments” to Social Security, which has nothing to do with our federal deficit, but can and must be repaired as a separate matter, dramatic reductions in Medicare (this too can and must be repaired as a separate item), Medicaid, more layoffs, and a 60% (guesstimation) rollback of the Bush tax malfeasance for those with taxable incomes in excess of $250,000.

The thespian script the Republicans are following, i.e., NO TAX INCREASES, is an important piece, as it will provide the facade of them negotiating, in good faith, a resolution of the budgetary confusion. The top 0.1% of wealth-holders have fought too hard and too long to accomplish the massive shift of wealth from the middle-class to that 0.1% demographic, since 1981, to give back more than a modicum of the larceny, enabled by Congress. This thespian script is so infantile that no rational economist would sign onto it as it would destroy our economics, pure and simple. We are watching a pretend game of “chicken” and both sides (of the same coin) will “compromise”, which will be a very sad phenomenon to the United States of America.

The “rollback” is a set-up and another get-out-of-jail-free card for President Obama. When Senator Obama was competing for the nomination to run in 2008, he said that he would reverse the Bush tax “cuts” (misnomer) for those with taxable incomes in excess of $250,000. He was elected. He did not admonish Nancy Pelosi to legislate this rollback. An excellent question would be to ask the reason for his reluctance to stimulate that legislation.

The legislation was passed AFTER the November 2010 mid-term elections. Another excellent question would be to ask why it was not passed prior to this election.
I posed this question to Lori Montgomery, a reporter at the Washington Post, to which she responded that she didn’t think it could have passed the House. Her assessment was absolute nonsense.

About two months ago, after a Townhall meeting at California State University at Northridge, I asked my Congressman, Brad Sherman (D) the question. He said that there were a number of conservative Congressmen who didn’t want the vote prior to the election because they were in conservative districts. I believe that response to be nonsense, at best. I replied that the legislative effort should have been prior to the election, if for no other reason than to show the People that our “leaders” were attempting to do the right things. Further, I suggested if our leaders do the right things at the right times, they will be doing the best they can do and that is what the People beg of them.

The legislation, passed by the House after the mid-term elections, stalled in the Senate because the Republicans demanded that ALL Americans deserved the continuation of the status quo.

After a few back and forth slick dance moves, the act proceeded with President Obama signing modified legislation, which included those with taxable incomes in excess of $250,000. Although he said that he thought it wrong to continue the Bush cuts (misleading terminology) for those with T.I.’s in excess of $250,000, he signed the legislation because the Republicans were holding HOSTAGES (President Obama’s first get-out-of-jail-free card), i.e., the long-term unemployed and the taxpayers with T.I.’s under $250,000.

The ancillary phenomenon of the “hostages” concept was the extremely unattractive signal President Obama offered, i.e., all an adversary had to do was to hold a “hostage” and this President would cave.

Interestingly, during an interview, on January 25, 2010, by Diane Sawyer on ABC’s World News, President Obama said, “I’d rather be a really good one-term president than a mediocre two-term president”. The signing of the legislation did not reflect the act of a strong President who wasn’t concerned about a second term.

Thus, his handling of the 2001 Bush tax cuts (where is my Thesaurus? LOL) appears to be oxymoronic, at best. President Obama displayed his naiveté when, during the same Diane Sawyer interview, he stated, “I can guarantee that the worst thing we could do would be to raise taxes when the economy is still this weak”.

Was he naïve or complicit in the effort to enable the continuance of our inequitable taxation? He could have killed the proverbial two birds with one stone, with the stone being to, immediately, reverse the Bush tax errors and to stimulate legislation that would provide a permanent tax credit equal to 100% of the Social Security taxes, paid by an employee, up to $60,000 of wages, while the two birds would be an adjustment towards a more equitable taxation and a serious economic stimulus to our economy.

My speculation is that they (Democrats and Republicans) needed the continuation to enable the rollback, later, to paint the picture that the wealthy were contributing to the mitigation of the deficit effort, which will be presented to the People as a fait accompli. They will trumpet that the wealthy will contribute via a tax increase, which is a well planned fraud, since the 2001 tax legislation was enabled by Alan Greenspan’s lie to the Senate’s Committee on the Budget on January 25, 2001. http://www.federalreserve.gov/boarddocs/testimony/2001/20010125/default.htm

If this immorality and poor economics were accepted and ensconced into legislation, our economic woes, which I characterize as “economic erosion”, will worsen.

There are simple solutions to our economic malaise, but unbridled greed is blocking rational solutions from even being discussed.

My own Congressman, Brad Sherman (D), appears to be complicit in this Kabuki Theatre.

mz
mikiesmoky@aol.com

mz
mikiesmoky@aol.com
Last modified July 4, 2011