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Archive for December 13th, 2010

Decline and Fall… (Maybe) December 13

Dec 13

Posted by Michael Collins in Uncategorized | 1 Comment

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 »

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URGENT: Stop the Plot to Destroy Social Security Today

Dec 13

Posted by Michael Collins in Uncategorized | Comments off

Michael Collins

On Monday, December 13, the US Senate will vote on a bill that represents the destruction of Social Security. The measure reduces the employee payroll tax by 33% (from 6.2 to 4.2%).   Social Security is  in good shape right now but this reduction will starve the Trust Fund and give the excuse to say – “Look, it’s broke.  We have to privatize it.”

Save Social Security – call or write your US Senators and tell them to vote no on reducing funding for Social Security – period.  No compromises at all.

US Senate Senate contact.

Please forward this with full permission of the author.

(Washington, Dec 10) Bill Clinton showed up at the White House for an “impromptu” press conference to discuss the president’s tax compromise with the Republicans. Clinton disclosed that “I make a lot of money now” and, as a result, he would benefit from the program. Then he endorsed the compromise calling it the best deal Obama could make. Clinton was particularly high on the Social Security payroll tax reduction. “According to all economic analysis, [this is] the single most effective tax cut you can do to support economic activity. This will actually create a fair number of jobs. I expect it to lower the unemployment rate and keep us going.” (Image)

Across town, United States Senator Bernie Sanders was telling the simple truth that Obama and Clinton avoided. Reducing the Social Security payroll tax from 6.2% to 4.2% as a one year tax holiday presumes that the normal rates will be restored at the end of the one year period. Who would restore those rates? The very same party that passed the Bush ten year “temporary” income tax reductions. That same party, the Republicans, now claims that ending the Bush temporary tax cuts represents the greatest tax increase ever. Just as they forgot that those tax cuts were temporary, the new Republican majority will forget the payroll cuts were temporary. Senators Bob Corker (R-TN) and Mike Johanns (R-NE) agree that ending the tax holiday will be portrayed as a tax increase. Read the rest of this entry »

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Suck it Up! – Part II

Dec 13

Posted by Michael Collins in Big Money, Financial Crisis | Comments off

By Numerian posted by Michael Collins

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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Sen. Feinstein Says Bring Back 1917 Espionage Act for Wikileaks – Is Sunstein Next?

Dec 13

Posted by Michael Collins in Criminal Justice | Comments off


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?

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