United States Heading towards a Depression?

Whaaat? There are some workers out there who have their union fees deducted from their pay whether they consent or not? Madness.

Interesting. Recently a friend of mine was complaining because everyone around him can afford to strike whereas he cannot. He's not bothered about unions and just wants to earn honest money, like most people. I assume he pays their "solidarity" fees but never asked him why he is then part of one.

 

http://money.cnn.com/2010/04/16/news/companies/ge_7000_tax_returns/
The above article is from 2010. the point is that, General Electric's U.S. operations lost $408 million in 2009.

However, in 2010, GE's U.S. operations saw a profit of $5.1Billion and this year they paid no taxes on that profit. Why? Because in the preceding years GE's CEO Jeffrey Immelt successfully lobbied the Obama and the Pelosi Democrats to give GE huge and unprecedented tax breaks! Obama then appoint Jeffrey Immelt chairman of President Obama's Council on Jobs and Competitiveness. Ain't that a hoot?

It's easy for GE to pay no taxes - GE just moves it's operations on paper so that they only pay taxes in countries where the tax rates are lower.

 

How many jobs were created in the private sector from that arrangement ?

Ain't that fascism ?

 

The debt ceiling debate has been instrumental in highlighting the Tea Party Republicans and their protracted perspective for solutions that rigidly follows only their own objectives without concern for the general public.

Their momentum has ground to a halt and a more conciliatory House of Representatives will be a likely result after the 2012 elections per a steadfast resistance to their intransigent behavior that now is gaining support and will continue to galvanize over time till next November.

 

Corwin: Instead of blaming Obama for everything look at specifics and FACTS. I know the Right Wing shuns facts.

The 2004 Jobs Creation Act (the most blatent misnaming of a piece of legislation ever--but pretty standard for GOP) Created virtually no jobs but specifically generated enormous unprecedented gift taxes for Corporations, with big pieces aimed specifically at GE businesses for leasing aircraft and other subsidiaries. It set up for corporations to get further tax benefits by "repatrioting" overseas money. Virtually all the money went to businesses, buying down debt, making deals with other corporations and increasing dividends on a short term basis.

None of it went to jobs....and it net added special interest tax cuts; adding significantly to the debt!!!!

Corwin: Unless you can list very specific lobbying efforts by GE in 2009 maybe what you are referring to is the immense lobbying effort by GE into the Bush administration and majority GOP congress that resulted in unsurpassed long term tax breaks starting in 2004. Try and be specific!!!!

 

This was the opportunity of the decade, to really recapitalize and modernize the military's equipment and that has been squandered.


When bogart is constantly fixated on Carter, one must wonder what will be the fate of George Bush and the Great Republican 07-09 Recession - and speaking about fixation what about the demise of the Military during the same period both outside as well as inside of Washington DC.

The previous Administration had no budgetary principles whatsoever.

 

This was all over the news today:

I believe in Las Vegas, I think its best days are ahead of it, but I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this this debt ceiling issue. And what I consider to be a total lack of leadership from the President, and nothing will get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year, that the discussion in Washington is nauseating.

And I'm saying it bluntly that this administration is the greatest wet blanket to business and progress and job creation in my lifetime. And I can prove it and I could spend the next three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our health care costs escalate. Regulations coming from left and right. A President that seems, you know - that keeps using that word 'redistribution'.

Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they're frightened of this administration. And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America. You bet. And until we change the tempo and the conversation from Washington, it's not going to change.

And those of us who have business opportunities and the capital to do it, are going to sit in fear of the President. And you know, a lot of people don't want to say that. They say oh, God, don't be attacking Obama. Well, this is Obama's deal. And it's Obama that's responsible for this fear in America.

The guy keeps making speeches about redistribution, and maybe's ought to do something to businesses that don't invest, they're holding too much money. You know, we haven't heard that kind of money except from pure socialists.

Everybody is afraid of the government. And there's no need -- there's no need, you know, soft pedaling it. It's the truth. It is the truth. And that's true of Democratic businessmen, and Republican businessmen, and I am a Democratic businessman and I support Harry Reid, I support Democrats and Republicans, and I'm telling you that the business community in this country is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody is going to be sitting on their thumbs.
- Steve Wynn
http://www.realclearpolitics.com/vi...ess_responsible_for_this_fear_in_america.html

Earl, please stop calling me Right Wing. I'm an independent. I'm the type of guy that decides elections - we do not exist only in polls. And I will get back to you with your questions.

 

Corwin: I was in Mass this weekend with old friends. I was easily the most conservative of the group!!! easily!!! then again a couple of weeks ago I goaded a friend of mine who is really really far left, telling him I took an action that is pretty lefty...and goaded him saying "hey big mouth...I did something way lefty of you...put up or shut up". That guy thinks of me as a pretty much reactionary conservative.

and so it is with labels.

meanwhile as to the "blame obama" and use the GE/Immelt claims. If you are going to blame blame blame Obama for everything from bad weather to current unemployment give facts.

The 2004 legislation I referenced benefitted GE and other big businesses with a lot of extra new tax breaks. That adds to debt.

Over the decade of roughly 2000 or 2001 to the current period basically the US added NO job growth. It started in a recession with an increase in unemployment. Per the graph you showed the increase in employment from 2000 was dramatically slower than all those prior recessions. You generated the graph.

This recession has whipped the sh!t out of US employment. Pols in neither party are focused on real job growth. This decade has been one with significantly lower taxes than the decade of the 90's. The 90's saw abt 22 million jobs created in the US. That decade started with a recession and ended with a recession like this one.

Exactly what kind of evidence does one need to realize that the GOP right wing mantra that lower taxes creates jobs simply doesn't work. Its a bs political mantra.

Just use real evidence in your claims, not some unsubstantiated attack language.

As to Steve Wynn, I guess he is entitled to his opinion. From what I've read the tourist/casino business is HURTING. Ever since this recession hit in 2007 new car sales down, home sales down, big ticket consumer items like washers dryers etc. down. jobs down. Its called recession. Last I recall Obama wasn't president when the recession hit.

 

All those weird political ideas like in 21st century in one of the richest industrial nations people should not die because of the lack of health care, how could someone think that?
The only problem is that these weird ideas are the norm in the rest of the world from the middle of last century.

 

No one in the US dies due to lack of health care.

 

You reminded me of a statistic : "Third leading cause of death in America is doctors."


On topic... gold is breaking records, going higher and higher.

 

The reality is, no one in this country is denied health care. If you can pay for it, you get it, if you cannot pay for it, you still get it.
The problem we have is with the cost of health care and insurance. Health care itself is pretty good in the US. So much so, Arabs from terrorist countries come here to get fixed up.

I've lived with and without insurance. I found not having insurance to work out better in some cases. You just pay your bill right then and there and if you can't they give you a payment plan. All the years I've had insurance I've had more billing issues, been sued 3 times by the hospital and have had nothing but aggravation as it concerns dealing with the insurance companies.

 

I heard from an American that doctors are required to give something like 30% of their time for free and that there is a way to get all sorts of life saving treatment without insurance or money, just not many know about it at all.

 

I found not having insurance.... You just pay your bill right then and there and if you can't they give you a payment plan.

You pay a higher rate (30-100%) on average without health insurance.


All the years I've had insurance I've had more billing issues, been sued 3 times by the hospital and have had nothing but aggravation as it concerns dealing with the insurance companies.

The AHC (Affordable Health Car Act) passed by the Administration is a first step in structuring payments for both the Provider and the Insurer.


AHC when fully implemented will be a Publicly Administered Forum as opposed to State and National gov't special interest for the Providers and Insurers without public input as presently functioning.

 

Not if you go through the bill and argue the price down.

In other words, its a new method of creating even more red tape and even more expense for all involved.

In other words; disaster.

Right now I pay a pittance for life insurance, auto and home owners insurance. There's no more risk. I just happen to be able to shop across state lines and can buy my insurance from just about anywhere.

With Health Insurance, I cannot do that.

Competition in the insurance industry will lead to lower prices all around. Passing an "Act" is just going to lead to more government waste and overspending.

 

you guys need to put 100% green party members in every state. Green party - no republicans. No democrats. - no problems.

 

Nooooo never vote Green. They're eco-commie-fascists. Free home insulation for all!

Vote Constitution Party.

 

You mean the guys that killed the auto industry, drove up the price of gas and other energy which in turn drove up the price of food and other consumables.. I think not.

 

Using budget deficits caused by politicians is not an excuse to enact social legislation as a remedy.

This vote in November and the votes in August in Wisconsin will be barometers for the general election in 2012. Why the Republicans were voted in office (a good question for some) and whether their actions reflect that reason is being put to a test - a tornadic spin on the issues by the Republicans will be in the offering, my guess.

The economic recovery should be something for everyone to look forwards to not just the Fat-Cats.

 

Speaking of Fat Cats... they are designing a way for citizens to never own a home. LINK



How is that for progress ??... How is that for "non-recovery" ... and ... who here really believes what Breeze Wood says when a depression is here ??


The "Fat Cats" are the bankers, less so than politicians. Make sure to read this : LINK