As U.S. presidential candidate Bernie Sanders has gained momentum in the presidential primaries, the attacks on his proposed economic programs have grown proportionally.
Wall Street’s big banks and their financial networks that collapsed the U.S. economy in 2008-2009, were saved with huge bailouts by the taxpayers, but these Wall Street Gamblers are still paid huge money and are again creeping toward reckless misbehavior. Their corporate crime wave strip-mined the economy for young workers, threw them on the unemployment rolls and helped make possible a low-wage economy that is draining away their ability to afford basic housing, goods, and services.
The credit card business is now the banking industry’s biggest cash cow, and it’s largely due to lucrative hidden fees.
You pay off your credit card balance every month, thinking you are taking advantage of the “interest-free grace period” and getting free credit. You may even use your credit card when you could have used cash, just to get the free frequent flier or cash-back rewards. But those popular features are misleading. Continue reading
The political coma of the U.S. government induced by Congress and its failure to represent those who elect it can ultimately be traced to the unfair and complex system of income taxation. Better for the country and more equitable for its taxpayers would be a toll tax on the movement of all money along the nation’s economic highway.
Citizens concerned about our national debt and wheeling and dealing on Wall Street should energetically support Rep. Keith Ellison’s (D-Minn.) “Inclusive Prosperity Act.”
The “Inclusive Prosperity Act” would enact a speculation tax that could help shrink our nation’s deficit while safeguarding and reducing runaway speculative trading on Wall Street.
A small financial transaction tax of 0.5 percent or less – depending upon the financial instrument being taxed – could produce hundreds of billions of dollars annually, perhaps as much as $350 billion. Continue reading
The “fiscal cliff” has all the earmarks of a false flag operation, full of sound and fury, intended to extort concessions from opponents. Neil Irwin of the Washington Post calls it “a self-induced austerity crisis.” David Weidner in the Wall Street Journal calls it simply theater, designed to pressure politicians into a budget deal:
The cliff is really just a trumped-up annual budget discussion. . . . The most likely outcome is a combination of tax increases, spending cuts and kicking the can down the road.
democracynow on Dec 2, 2011
DemocracyNow.org – European leaders are preparing to unveil their plans for addressing the sovereign debt crisis that’s threatened to tear apart the Eurozone. Both France and Germany are expected to push for changes to the Eurozone treaty, including centralized oversight of national budgets and tighter reins on debt. In a speech on Thursday, French President Nicolas Sarkozy said radical changes are needed in order to save the Euro. Continue reading
As the November 23rd deadline approaches for the “super committee” to find $1.2 trillion in deficit cuts over the next 10 years, I am writing to urge the members of the committee to consider options to cut government spending and raise revenue that extend beyond those typically discussed on Capitol Hill and in the media. Members of Congress – both Democrats and Republicans – often appear to be struggling to find deficit-cutting proposals that will either go far enough or attract bipartisan support. I have two proposals that should on the merits – absent the undue influence of special interests in our nation.
The first nationally televised debate (C-SPAN) on the subject of mandatory voting, or voting duty, occurred in Washington D.C. on June 27, 2011 (watch it at: http://www.c-spanvideo.org/program/DebateonMa). Why did it take so long? Because discussing this topic has been a taboo in electoral, legislative and main media arenas.
It was Abraham Lincoln who followed his Constitutional right to coin a US currency. President Lincoln created US Greenbacks from 1862–1871, printed by the US mint, delivered to the US Treasury to conduct and pay off the Civil War debt. Yet, after his tragic (if not related) assassination, the country returned and departed again from private banking systems.
President William McKinley, as Ellen Brown writes in her fine book, The Web of Debt, “was a protectionist who favored high tariffs to keep these marauding British free-traders out” and pay for a US Government currency. “When he was assassinated in 1901, no conspiracy was proved; but some suspicious commentators saw the invisible hand of British high finance at work.” And so the battle continued.
“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” – Warren Buffett
As Ralph Nader and others have pointed out, NY State’s $9.3 billion budget deficit, the excuse given for austerity causing service cuts and pressure on unions to freeze wages and cut employees, can be more than made up by using the current NY State Stock Transfer Tax.
That tax, which generated $16 billion in 2010, more than enough to balance the budget, with $7 billion to spare, has been automatically rebated since 1979, instead of being used as revenue to fund necessary state services, including the jobs of NY State and City employees.
by Ralph Nader
The Nader Page
December 30, 2010
Dear Governor-Elect Cuomo:
The conditions where many regular New Yorkers live are grim. Poverty, unemployment, home foreclosures, and small business bankruptcies keep growing.
On the other side of the tracks, the top twenty-five hedge fund managers recorded an average of $1 billion each, or over $80 million each a month in 2009. Quite a quick rebound on the backs of American taxpayers and privileged tax policies.
by Ralph Nader
The Nader Page
Aug. 6, 2010
You can’t make up the following realities in New York State! Note the following series of events driven by the preposterous plutocrats and see if you get steamed.
Greed, power, reckless speculation and theft of other peoples’ money by Wall Streeters collapsed the U.S. economy into a deep recession that started in 2007-08.
These super-rich Wall Street banksters looted and drained trillions of worker pensions and mutual fund savings while nationwide eight million jobs were lost.
Panicked that their overweening avarice was pushing their companies over the cliff, the banksters rushed to Washington, terrified members of Congress with the help of ex-Goldman Sachs CEO turned Treasury Secretary Henry Paulson and propelled the Bush White House into a series of massive taxpayer bailouts and guarantees amounting to trillions of dollars during the last quarter of 2006.