By Michael Collins
SOCIAL SECURITY THREAT: This is a big week for the decline and fall of our society. It’s not like we’ve bet the ranch on the Senate vote on the Obama tax compromise/cave in. But the proposal may be the beginning of the end of Social Security as we were promised it. Obama made a deal for a one year tax holiday on the employee contribution to Social Security. It will go from 6.2% to 4.2% for a year. Supposedly, it will be restored in 2011. Since even Republican Senators (Corker-TN and Johanns-NE) are warning that this is a huge risk, let’s assume that the Republican majority behaves as it did on the Bush era “temporary” tax cuts. Read the rest of this entry »
Archive for December 13th, 2010
What is it with these billionaires, lecturing us to “suck it up” if we don’t like the bailouts? A few months ago it was Charlie Munger, co-founder of Berkshire Hathaway and sidekick to the better-known Warren Buffett, who said “we shouldn’t be bitching about a little bailout”, and people facing financial troubles should just “suck it up and cope.” Back in September when Munger was speaking, we didn’t know just how little the bailout was, but now that the Federal Reserve has been forced to divulge details of its six bank emergency financing vehicles, we discover that over $3 trillion in taxpayer money was delivered to US and foreign banks, companies like General Electric, mutual funds like PIMCO, and a few individuals, some of whom happened to be billionaires like Charlie Munger. (Image)
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Wikileaks, who benefits? The repellent Senator Diane Feinstein (D-CA) wrote an editorial in Rupert Murdoch’s Wall Street Journal demanding that Wikileaks spokesperson, Julian Assange face prosecution under the Espionage Act of 1917. She noted that the law makes it a felony to “transmit ‘information relating to the national defense which information the possessor has reason to believe could be used to the injury of the United States or to the advantage of any foreign nation.’”
The law was used to jail those protesting the US entry into World War I. Labor leader and socialist candidate for president, Eugene V. Debs was one of 200 imprisoned for opposing the war.
Feinstein said Assange was “no doubt aware” that he was violating the act. But Feinstein was “no doubt aware” that the only ability to prosecute public speech is based on a Supreme Court Standard of that speech causing “imminent lawlessness.” There’s no evidence Wikileaks or Julian Assange solicited anyone to leak; rather they received and published leaks.
Feinstein has another target for her Espionage Act. Obama administration information czar and guru Cass R. Sunstein wrote favorably of Wikileaks back in February 2007. That’s encouraging someone Feinstein says is the enemy. Will the war supporting Senator declare the same on one of President Obama’s closest legal advisors?