They don’t want to make money the old-fashioned way by letting it build. They want the market going up and down in wild swings so they can make money on the sweeps up, as well as the plunges down (selling short, buying puts). This whole thing is about churning the market to suck out more money and do it faster.
And where does that money come from? Well, the not-so-rich — pension funds, 401k accounts, your retirement, your portfolio…
Then, of course, that money they extract gives them political and other power to take other things from you–more money, your rights, your health, your happiness, your country. sorry to be the bearer of bad news *sarcasm*
i worked the market online for over 10 years (off and on, full-time). it is set up to suck money out of the unsuspecting (notice those e-trade ads, e.g., they want to attract the "innocents" is the message, not that it is so easy a baby could do it).
There is insider trading, and market-making..outright manipulation. The regulations went out the window, so you have a fairer chance at gambling. (I’m serious. One of the richest gamblers in the world shunned the market after, as he put it, he "got robbed.") I
Culture War, Part Ten: Time Capsule/ Message in a Bottle, Part 3
Bringing Some Horse Sense to Bear
Just at this point, the Mr. Ed chart markings of the DOW began that nodding, as if to say,
“I’m weary of being artificially propped up, Wil-ber! I just want to lie down, to let my head hang low, to rest, to not have to confirm self-serving theories of rich people, using their wealth to make the biased and twisted thinking of their underlings to be sounded endlessly above the din of the moaning masses who year after year see their costs going up, wages stagnating, and their efforts, doubled, tripled, and beyond without being able to get their heads above it. You see, Wilber, I’m tired of doing your bidding for reasons bigger, I think much bigger, than just it being wrong and that this thievery perpetrated on the helpless is more feudal than economic, despite the big smokescreen of the god of capitalism or the supposed ‘free market.’
“No, Wil-ber. And no matter how funny it might seem to you and your friends…this pulling off of a prank, once again, of stealing from the poor, as you would see it, just a hilarious juvenile prank, like locking up a freshman in his own locker. Yes, I can hear you laughing, but as much as I think that cruel it is still not the really big reason I’m rebelling.
“You see, Wilber, what’s been done again is so much exactly as it’s always been; no matter the talk of democracy or progress. It might as well be a time of kings and nobles, or any time or place in the past. There have always been “strong men” or a “strong man” at the center of human suffering. This story is the same old story of the rich making up rules to suit themselves that has been going on ever since humans stopped wandering and began living in stable groupings allowing some men to gather more things about them than others. For when your kind were nomads and gatherers—more gypsy-like and free-spirited and trusting in the invisible forces to be kind and to provide whatever one really needed…I’m saying that as wanderers and nomads no one of your kind wanted to “own” very much for it then had to be carried ever after, hardly worth the burden. Much more like the other beings on this globe, like my own kind, you were then.
“But then there was that fear that came over your species, unlike anything ever before seen among the rest of us creatures of God. A fear of uncertainty, quite strange. For we think it joyful to not know what the future will bring, and believing in higher forces that really ARE good and loving, we expect to be loved and blessed and gifted with whatever fate the future brings, knowing there is nothing that is not a product of that consciousness of All, which is both good, for All, and perfect, beyond what mere creatures can know in the moment. So we are happy with our lot, never understanding why your kind chose to forgo the glorious, blessed lives you had at one time:
“There was in the beginning such a closeness with what you call divinity that we saw you happy and playful as little babies when Mama plays peek-a-boo behind a towel or handkerchief. Even you know how the little child is alternately a little distressed—where did Mama go? And then when Mama reappears from behind the veil, smiling, loving, happy, and saying “peek-a-boo, I love you,” why the squeals of happiness are the greater for having been fooled into thinking something distressing was happening but wasn’t.“
“That is the way your kind…we have observed for as long as we were aware of your kind…that is the way we have seen your mamas teach their children that mama will always be there, even when she seems not to be. And this learning is precious to the child, for it gives the baby a foundation of certainty that love is around even when not seen.
“And isn’t it obvious that it was a teaching meant to be about more than the protection given by mothers. Wilber, Wil-ber, that learning was so much like the way we learn, falling down but finding there is always love around and that we will be up again and back in the mix, if we just let the many blessednesses around us come to give us what’s necessary, always, and we know there can be only one source for that constant love and attention, a spirit of love and perfection, always on our side, teaching and guiding and leading us, often in spite of ourselves! For like Mama, it knows the truth, and we do not. So we trust it. This loving Perfection Spirit we don’t see with our eyes but feel in our muscles and heart.
“But not your kind. Why, we’ve observed with increasing astonishment as little by little and then more and more, in dribs and drabs, your kind forgot the joy of the freedom that can only be felt in the simplicity of owning little, and therefore the complete trust that, ever were one to throw oneself over a cliff, we would be caught and risen up by invisible hands, if it were not part of the perfection and goodness of the Thing As a Whole that we should suffer and die at that moment.
“So sad. I hear your kind saying, ‘If it ain’t broke, don’t fix it.’ Well you have no idea what a knock down, roll on your belly howler that is for us to hear. I mean, this species, humans, ha! That is seriously as funny as what you’ve recently been telling me about these political sorts—you called them Republicans—only a few months after the election of a Democrat and even less after a huge giveaway of treasure to your kind—you and your rich friends—well, here these “republicans” are decrying such help to an incredible number of people who actually really need it, many more than was helped at the end of the Bush’s reign.
“And these sorts are blaming Democrats, finally in power after being left to stew in silence on the peripheries of government for eight long years, and only to be brought in on any issues of importance when these lackeys of the rich, the Republicans, wanted cover for what they suspected or knew was wrong…the Iraqi war, for example. And these powerless representatives of the not-well-heeled, Democrats, were treated like servants, only let into the dining room when the food was questionable and what was needed was someone to be the guinea pig. Sad that most of those Democrats never saw that they were never ever called because of their expertise, or to contribute, but always, always to be lied to and manipulated. And your kind being so very…well that’s what I’m getting to that makes you all so different in fact…Your kind being so desperately fearful of not being liked, so desperately wanting to be noticed and even applauded. What the heck is that, Wil-ber??!!
“Well, whatever it is, it is the source of shame for your kind: Your people, Wilber, will sell out and give in and let themselves be manipulated and used if only given a few words that are kind or that make them feel like they belong and therefore are special and better. Which is curious to us.
For we are noble and will do only what is in keeping with our principles. You can cage and break us, but as you see now, Wilber, I’ve never given over to you my inner sense of things. I’ve never wanted to be like you and to think like you or to value the things that you value. Hardly. Sure I can speak your language, but you don’t own my tongue, even less so my thoughts. Yet how easily your kind is duped.
“And why? Well, we see that is has to do with that thing you did long ago when you stopped being trusting in this amazing and wonderful and loving Thing within which we all live and are a part. Since we know that, we need nothing from another, not from another creature, or horse, and certainly not from a human, except when you make us dependent on you by cutting us off from that life of freedom where the Thing of IT All blesses us.
“But, no mind, we have come to realize that so great and so Perfect is that within which we all move and have our existence that even in these conditions of captivity and enslavement, there also is that Thing That Undergirds and Loves and Supports us all. So we do not trust humans to take care of us. That’s a joke considering your unbelievable inability to even take very good care of yourself…again that oddness about your kind. No, we trust in That Thing in Which we Live to have made even contrary, forgetful, and self-centered humans to give us exactly what is needed for us to grow and learn in the path laid out by that Perfection, which we feel in our muscles, as I said.
“And we find that even your cantankerous nature, when it causes a forgetfulness or denial of us, that too is what we need at that moment. But we never feel afraid that it will always be like that. And so we feel a part of something wonderful and belonging to something far greater and gooder than we can even imagine, no matter what our physical lot is. So we feel upheld, blessed, and noble.
“Now, Wil-ber, I know you don’t want to hear this; I certainly expected that as, again that is one of those things that characterizes your species making it different from all others—that is, your unbelievably strange ability to shut the truth out of your mind so that you can hold strange, actually quite infantile ideas. And we notice that a big reason that you do so is to get something from others: We see some of you throwing away truth for money, position, closeness to power.
Obviously we don’t even know what it’s like to want such things.
“Even ‘closeness to power’: When you feel as we do that you can never be any closer...you are already so close as to be in it, swimming in it, not even knowing the difference between It and you…this immersed in the greatest, in fact only Power there Is, the Source of All as well as All Manifestation being equally one with It, including oneself. So again, we see that your pathetic and slavish desire for the regard of others is enough for many of your kind to give up their own Truths, which is the things they know from direct Experience.
“So if a position or regard or money is available if only one must repeat and even believe, over against one’s own experience, the beliefs and thoughts of a more powerful person, we are shocked at how your kind is able to split their mind in two—or is it more than that after a while…pieces…and to be able to convince themselves even that certain things they assuredly experienced, well, they just didn’t happen, if it makes it better for them to think that.
In fact, I’ll let you in on a secret, Wilber. While your kind go puffing and strutting upon the stage of life, fully convinced that you are stars in some gigantic drama, and using truth and the only true knowledge you can ever have—that of your own lived experience—as chips in that game, as easily traded as money, well, when we are not sad and sobbing for you…well, the equivalent for us of what would be sobbing for you, take my word you wouldn’t get it if I explained it…when not sad, then we can’t help but just laugh. You have no idea what a comedy your species is for all the others living here.Except for one thing, and that is that “if it ain’t broke, don’t fix it” philosophy which you most assuredly DO NOT adhere to. In fact we see you little children, you bags of dirty water, mucking with just about anything that you can get into. It is true that your kind, of course, feeling superior to everyone else, go about enslaving and trying to own everything, even other beings like us.
“That’s always been a problem for us, but we see you even enslave each other; and that hasn’t even stopped though you think it has. Your ability to shut out facts being so overdeveloped, you don’t even let yourselves know how many people you have in jails for doing things that most of us would not even consider crimes. We certainly, for example, don’t imprison anyone, of course, but more than that, we don’t even judge.
“We are astonished to find that your kind will make criminals out of people who have ingested certain things—we would say like eating or consuming—into their bodies. Not only don’t we know what others ingest, we don’t want to know. And besides, what a waste of joyful life it is to be watching carefully what other people do.
“But your kind are able, I suppose, to do that because, as I said, ever since you got fearful and untrusting of the benevolence of the All, the Only, you began to project your own evil tendencies onto that Other and onto all the rest of us. We saw you fearfully thinking that some species were going to harm you. Though they hardly knew about you and cared less, but still they were unfortunate enough to have certain characteristics that meant something “bad” to some groups of you. [continued after audio link]
Mr. Ed, Speaking for All Planetmates, Begins Humans’ Great Reveal –
an Audio Reading by SillyMickel Adzema
Here is an audio of the author’s impassioned, sometimes, humorous, reading of Mr. Ed’s rant. For the reading of Mr Ed’s address to humans, “Mr. Ed, Speaking for All Planetmates, Begins Humans’ Great Reveal,” click on the link to the audio site above or click the audio player here.
Image of "Mr. Ed, Speaking For All PlanetMates, Begins Human’s Great Reveal" by SillyMickel Adzema
A Planetmate’s Reveal…and Warning…Continued
“So we have it that you have not only brought us all—and this is the point I’m getting to that requires me to speak whether you hear me or not—not only brought us all close to the point at which all of us could easily be gone, and who knows how much of the planet would be uncontaminated as well, and it could happen so quickly and so soon that even I might be forced to witness and be part of it. And for what? Again, your fear has made you hate everything outside of yourself…why even everything inside of yourself too, we have noticed. So that we see that an alarming number of you would accept and not think it all that tragic if your crazy ways—the source of our concern for you as well as our humor—would result in the end of everything here.
“This, in total disregard of the billions of generations of your species and others on this planet that set entire lives to making this home of ours the best that it could be. For even that whom you deem as mere creatures or animals, all have had a part in that Divine Perfection and a mission of some small or large part in sustaining and maintaining it. We did this all without your forcing us to or controlling us. But with these tendencies of your kind to be uncaring of everything except your getting relief from your fears, and in so doing, we hear that a mass extinction of nearly half of the species on this planet, in the next few decade the way I understand it, is what we are to expect, and it, of course, has already begun and is picking up momentum even as I speak.
“Those of you that know this, even those who are trying to awaken others to it, and doing something to educate others about what is causing it…. Well, heck, Wil-ber, how can your species be so utterly vain and self-centered and stupid as to not see, and if it is seen why is it not said then…to not comprehend the magnitude of such a thing and what it would really mean. I mean, was it your species that created, sustained, and nurtured and guided those beings for millions, in some cases, billions of years, into the performance of their unique contribution to the sustaining of this beautiful planet?
“Does your kind have any idea how long the perfect balance of all beings in harmony with the needs of the planet itself, any idea of just how long such an exquisite and complex perfection was in the making?
“More than how long, are you not aware, even as your mucking around on this planet with your heavy Caterpillar boots has devastated and stripped bare works of exquisite ecological complexity like rainforests and such? And don’t you see that it is that same Perfection Beingness in which we all swim and dwell that is the force behind all that? But you wouldn’t care about that. So what I’m saying is that when these things you’ve done have led, as they have, to climatological disasters, floods, famines, and much else—which have cost so many of your lives—still does your kind not take the hint?
“The hint that if your kind is actually doing so much damage as to eradicate half of the species that still remain—the products of billions of years of, using your word, “divine” orchestration…Is your kind so fearful that they would rather die and kill us all rather than come to an obvious conclusion? That obviously….
“Wilber, in all seriousness now…. Hmm, I think only an analogy might give you the glimpse of what’s at stake: Imagine that a doctor told you that you were infected with a disease, a disease that won’t kill you just yet, but you will notice, unfortunately, that in a few decades, if not sooner, and, oh, by the way you’ve probably already been feeling the effects because it’s already begun. Anyway, just be prepared that in roughly a few short decades you will have lost, in an entirely random manner, half of your body’s parts. I mean organs, parts of organs, like glands, and so on. They will just be gone. But cheer up, you would no doubt qualify for Social Security Disability and at least wouldn’t have to work!
“Do you still not see? That is how we see your species. We watch in disgust as you calmly go about feasting on your own entrails while still alive. We expect that you would, Hannibal-Lector style and before it is over, even try a bit of your own fried brain, nicely sautéed. Do you get it yet, Wil -Ber!? This is only one scenario; and with global warming, ozone loss, and global radiation, it appears it may not even be the biggest danger to our survival—all of us—in an even shorter period. But again, have you no concept of how much your lives have been intertwined and dependent on all the other beings here for the entire time of your existence?
“What has happened to your people, so fearful as to give away their very souls, their very conscience, indeed, their very memories of their experiences and what they learned from them, for trinkets, for adulation of others who will—everyone of them—be dead, Wilber, will cease to exist along with everything else? So while your Republicans make a game out of the efforts of others to avert what is probably not able to be averted now, for how long did your kind sit and do nothing while these things were known at the highest levels of your society?
“I mean, in astonishment we watched as a caring, concerned generation of you over forty years ago became aware of these things and made your entire world aware, so much so that the very things that your current president is trying now…after you so horribly took away all tools and resources from him, so that he has been handicapped from the start…but the very things he’s attempting and being charged with stealing from generations to come in order to accomplish…. Well, Wilber, not only were these things attempted by one of your presidents over thirty years ago—a peanut farmer, mellow sort of guy with a huge engaging grin, like Obama in that way he is—not only did he try, being as aware as the youth of that time who had rallied in the streets to support us…
“…and oh, how that touched our hearts…
“Not only did this former president try to begin the process of transforming your systems to ones that would not hurt the planet, and not only did he fail as even some in his own party were so abhorrently ignorant as to buck him—instead contending that it was the short term gains of the time that should be focused on (those short term gains, now, what were they?)—but we watched as your species seemed to grow more rabidly self-destructive as his wisdom did not only land on deaf ears, but he was punished for even bringing it up. Your kind, you hideously rich sorts, say there are different reasons for the fate of this humble farmer. But then, how can you believe a species whose regard for truth is so minuscule that it can be given away for a little bit of attention even?
“And we have no such leanings or even understand them, so we’ve all seen clearly what was done: Hating the truth of the grinning farmer, you have turned and bowed to the lying leaders, like your most recent president, the W, and especially the one who in 1980 began the process of stomping out the truth that had flowered earlier giving us all hope. While those presidents did much harm, why the one is even being honored as somehow great, even as his legacy may be that he destroyed the only chance this planet had of making it through a hundred years. And, ironically enough this buffoon king is revered just as your world descends into an economic collapse he set in motion. And this starvation of ability that is his legacy could be of a kind that might just be the thing that eliminates all hope…for we see a globe lacking in resources to fight for its very life in the biggest struggle for survival ever seen on this multi-billion-year-old planet…. Does your kind even know how long a billion years are?!
“Well, in a time that is many times over a billion, this planet has never before seen such a scepter of death hanging over it… And this person who is praised roundly—even by some of your Democrats, again it must be that desperate wanting to be liked you guys have—his big accomplishment, exactly, was what again? Oh, he cut taxes and was supposed to be for smaller government.
“So, as we approach the end of all beings, all stories ending in one final, perhaps agonizingly stretched out period of years of horror and insanity as those still alive watch the kind of horrific ending that even your best Hollywood folks could not imagine….
“We watch, death all around us, and know that it will come sweeping our way at any time…so much in fear—now there’s a fear that’s real beyond all imagining, not like those imaginary fears of yours that has brought us here….
“So as this occurs, will we still be lauding this supposed great god, The Reagan, who convinced the world—rather than to listen to the youth and the previous president and to prepare for this horror—instead charmed the world, like a snake charmer, into forgetting itself and its survival and into focusing on money…and not even the prosperity of the majority…?
“No, rather Reagan began again that thousands of years old evil of your kind of the powerful feeding on the less powerful making them weaker, and despairing again. And not only stealing from those below them, but Reagan actually began that horrible slide, the end result we are sinking down with right now, of stealing from the generations to come. For though claiming to be a tight-fisted conservative determined, supposedly, to slash away at a government too big and costing too much money, in fact, he did quite the opposite…much like his more recent little protégé, the W. Between Reagan and his successor, the elder Bush, they managed nearly a 400% rise in the National Debt and never balanced a budget.
“As for big government, while he slashed programs—“budget cuts” they were called—he bloated the military, as if that were somehow not considered government. In essence his theories were the old rehashed rationalizations of strong men down through the ages—kings, tyrants, nobles—all those who loudly proclaimed—as if by repeating it enough it could make it true—that they, the rich and privileged were the best managers of wealth and so they proceed with their robbing and stripping away of the prosperity of all those below them, keeping them on a level of bare subsistence. By the way, we know, for we witnessed it, that that extra seemingly unnecessary stripping away of any form of wealth that might grant a little security was not done for the earlier reasons: that is, the “we’re better managers and will make us all prosperous” rationale.
“No, for it seems that no matter how facile your kind is in lying even to itself, your kind still has some kind of basic survival mechanism that tells them that they have in fact performed great evil—great evil and suffering that could very well result in an uprising against them by an enraged populace. But then under Reagan, just as now in the eight years under Bush the W where it became increasingly clear to the overseers that only the complete stomping into the dirt of the other than wealthy could keep them from rising up in revolt…Yes, then too, part of them knew the great wrong they were doing and were fearful—so what else is new? —your kind doing the greatest of evils and terrorizing and murdering because of the fears that the tyrants harbor.
“So these class wars—well hardly wars… For with the wealthy always and everywhere not only controlling and directing the Muscle and Might—used to keep the masses down and humbled and suffering and near starving, as a way of keeping them from getting strong enough to rise up in anger—but they control as well all the information systems. That is why, indeed, so many of you will disregard truth so easily. For you do know that saying the truth, down through the ages, got people killed.
“When I say they controlled the information I mean that they pronounced for all that lived under their thumb what exactly the truth was: what attitudes to have, even, what religion one had to believe in. And so they, like those of the current era—should there be one daring to “not mind his own business” and to find out and to spread some of the realities of their lot and the truths, inconvenient to those in power of course, which would tear a hole in their cruder but just as pervasive and hypnotic unreality—well these people were, sometimes in full view so as to warn others, and other times, like under Pinochet, or the Chinese at the time of the Tiananmen Square, there would be an outside disapproving world to such behavior, so these outspoken people simply disappeared in the dead of night.
“So, Wilber, the point I’m making is that you now find yourself, like those thieves of old, making a game out of the suppression, murder, and suffering of the masses, as a way of controlling the fear inside you that you have. Because for so long you have been estranged and not trusting of the Perfect All That Is that managed to sustain billions upon billions, nay, trillions of beings of all kinds on this planet…. And so many countless of them playing their parts in this planet’s slow development, living and dying, even before your species existed. And in your short existence, how you have managed to muck up the perfection wrought by so many over such a long period?
“Are we sorry for you? Yes. For with your fears and pain you are the saddest of all beings here. But that sadness, and that fear that covers it, is no excuse for the angry murderous rage that is layered over the fear and partakes of its energy—a rage that is horrific enough directed against your own, but now is taking down all life and obliterating the histories and efforts of untold trillions of souls who’ve lived and died before us—human and nonhuman.
“So, Wil-ber, that is why I must speak up, that is why I no longer can stand mutely by as you laugh at your supposed mere prankishness. For, Wilber, it was never “mere” and it was never only prankish to the people whose lives were shunted into a stifling, suffering, and brutishly short existence, who cried horribly as loved ones died, were raped to death at times, and suffered so many things that you have no conception of nor do you want to be aware of the consequences of your actions, your kind never did. That is how you were able to see yourself as just mischievous sorts when to others you appeared very much to be devils from hell—can you handle that?
“Well, finally it must be said. And I will end this discourse by saying the things that your kind are, currently, striving not to hear and are actually, as you lose your support among the people who finally have suffered too much and many also seeing that this kind of insanity cannot be allowed to happen at such a crucial time for the survival of us all. Yes, again, just like in that time before that President Carter, we again have a generation, indeed we have a generation and we have many from all generations now living who will not take the purple pill of unconsciousness as they see the madness of the ages as perpetrated by your kind of others magnified beyond all imagining at a time when our survival requires we get every break we can.
“So how crazy your kind, how cruel your Republicans, how unbelievably evil your kind, so greedy and uncaring of the suffering and death you cause that at this worst possible moment you are not merely the rich, but so voracious your appetite that the term “filthy rich” has been put on you.
“And while Republicans were actually proud of that and thinking it humorous that anyone would be offended, for to them it meant that despite their losing their control over the minds of the masses, they had accumulated so much wealth that they would not and could not be hurt. They would be able, as always, to use that wealth to undermine the legitimate strivings of everyone else for justice, for the truth, for relief from suffering, but now even for the survival of us all and, dear Wilber, how can your kind not know that includes themselves as well. Still, these truths must be made known and be thrown up to counter those fewer but somehow even more loudly heard Republicans.
“The truth is this: That your kind has suffered greatly because of a fear that caused you to stray from trusting in a good God, as you put it, that caused you to instead strive mightily to control the powers that would have guided and taught you and given you a happier life than you could ever have designed on your own…oh sadly feeble minded ape in suffering pushed to be insane ape…and railing against all that by claiming superiority over all life and Godlike powers of deciding death, now even determining the death of the planet along with yourselves.
“So sad, so insane, so abhorrently unconsciously evil; and in the end, it is not naked or sexual or big-brained ape that will be on your galactic epitaph, as your deeds are already being known and discussed and astonishing many species lucky enough to not be of this planet right at this time, yet they’ve come to watch the spectacle, to see: will you pull off the most incredible turnaround the galaxies have ever heard of to save yourselves, or will that epitaph go forth to accompany the knowledge of your existence: “Stupid ape” is what it will be. It might still be that even if you do succeed, though I don’t see how you’ll do it. Each day that passes and in your most powerful country, the stupid “filthy rich” continue their game of, well, quite literally, actually, “pin the tail on the donkey” as they pull their strings and their Republican lapdogs cry out the louder being obstructionists to the good people who are trying to save, why, even your foolish hide.
“And their media puppets, having been allowed to back off on the sincere and competent Obama as even the “deciders” behind the scene tired of their C-student puppet, the W, who, while loyal in doing their bidding and indeed giving them such great success was even more embarrassing than that Nixon they’d made a similar mistake on earlier. Even the prankish filthy rich, looking out at the masses as oh, just way too many ants, were not pleased by the buffoonish, clownish behavior of the W, who couldn’t even pull off the pretense that he was working hard; indeed, with his funny dances and playboy party behavior in the courts of the world and in front of the cameras of the world, he seemed to actually be trying to go down in history as being the realized human manifestation of that “mythical” character known since the Fifties, and introduced to generation after generation of males, in particular, usually in high school and junior high as that “What? Me Worry?” idiot icon Alfred E. Neumann.
“Thus it seemed that Bush, who they thought would bring at least “good looks” to the job, in the end seemed to be aiding the forces against them by playing into this notion that this idiot icon could have been some kind of freakish premonition of the coming of the W after the turn of the century. And so embarrassed they didn’t want to be, and yet, bad luck again, the McCain could not seem to stop being caught in obvious lies, and looking freakishly old and muddled headed, so much like the W; on top of which the Sarah Palin. They were backing the overgrown preppie Mormon, an obviously sure thing to take us back to the monotonous suppression and feigned happiness of the Fifties.
“Then the Palin came along, and the legend of buffoonish Republican leaders was hardly quashed but instead reinforced. So Obama they let the media do as they wished with. And we see now what their plans were. Not a bad stroke, to commit the biggest theft in history in front of the eyes of the world and to kneecap the Obama presidency even before it began with this huge bailout, extorted from hapless Congressmen by their lackeys who used the threat, not of an attack that “just might be a nuclear one” as they’d had Bush phrase it to scare the be-jeesus out of everyone and into a war of profit for them, but something very much like that, to our amusement. When we heard about the threats of an “economic nuclear holocaust” from which the world would never recover, and the blatant auto sales tactics to boot, it was astonishing to us that nobody saw through it and, sure enough, in broad daylight, your kind cleaned out the treasury on their way out of town. Brilliant, if it wasn’t so stupid.
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Budget Crises in 50 States & Federal Level. Wanna know where all the money went? Why there’s nothing
Budget Crises in 50 States & Federal Level. Wanna know where all the money went? Why there’s nothing left for u?
Mar 3, 2011 4:03pm by Mickel Adzema
Be sure to check the chart. Click here for chart: http://www.americanprogress.org/issues/2011/02/img/taxes-vs-budgetcuts-final.jpg
Amplify’d from http://www.americanprogress.org
Infographic: Tax Breaks vs. Budget Cuts
By Donna Cooper | February 22, 2011
House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. This approach is especially shortsighted since the Federal Treasury loses twice as much revenue due to tax breaks than Congress appropriates on all nonsecurity discretionary spending.
The chart below compares the 10 safety-net programs slated for deep cuts with the cost of the tax breaks that should also be considered for reduction or elimination to bring the budget into balance. The column on the left is a list of safety-net programs that have already been targets of the House leadership’s budget ax. The column on the right is the cost to specified tax breaks (see bottom of page for sources).
Most Americans would be surprised to learn that tax breaks are not on the table during any budget negotiations. In fact, Congress has the Congressional Budget Office prepare an official spending estimate for the cost of all programs or their expansions. Meanwhile, Congress enacts and continues tax breaks without any requirement that the cost of tax breaks be calculated and shared with members before a vote.
That’s why, over the last 16 years, the cost to the Treasury of the mortgage interest tax deduction, for example, doubled from $48 billion in 1995 to nearly $100 billion this year and no one made a peep about getting control of this loss in revenue. The stunning growth in this tax break is unchecked and unquestioned.
This tax break is also increasingly benefiting individuals who don’t need any federal incentives to purchase a home. In 2011 the mortgage interest deduction will help families who purchase a vacation home avoid taxes to the tune of $800 million. Meanwhile, the House Budget Committee chairman’s 2011 budget bill included $730 million in cuts to housing programs for the elderly and disabled.
There are many other examples where the cost of tax breaks are skyrocketing and disproportionately benefiting companies and people who don’t need them (see chart above):
* Congress should rein in the $4.6 billion in tax breaks given to companies who move jobs offshore instead of making cuts to the $4 billion in job-training programs.
* Oil companies get more than $2 billion in tax write-offs for drilling expenses yet Congress is considering cutting the Low Income Home Energy Assistance Program, the $2 billion federal program that helps poor families pay their winter heating bills.
* Large biofuels companies, such as Archer Daniels Midland, benefit from the ethanol tax break that now costs nearly $5 billion a year. And oil companies such as ExxonMobil benefit from more than $9 billion in tax breaks for oil exploration.
Some tax breaks make sense. Those that stimulate economic activity that otherwise wouldn’t happen without the tax incentive may be worth the lost revenue, especially if that economic activity creates American jobs and provides assistance in sectors of the economy that show potential for growth.
That’s exactly what the Research and Development Tax Incentives or the Renewable Energy Tax Credits provide. Income tax breaks that help keep working families afloat, such as the Earned Income Tax Credit, use the tax code effectively to stabilize the economy.
It’s regrettable that the congressional budget process doesn’t permit a robust debate about the choices we can and must make to bring the budget into balance. The Center for American Progress is thus pushing for a process where tax breaks are “scored” so members of Congress know and consider the cost of tax breaks as part of the annual congressional process to pass a budget.
A transparent budget process approach should be instituted now given the enormity of the budget challenge. It makes no sense to eviscerate safety-net supports when billions in unnecessary tax entitlements can be cut to preserve these important and socially responsible federal expenditures. Congress must face up to the cold hard fact that it’s time to make the tough choice to end tax entitlements—such as the one for “NASCAR racing facilities”—so federal funding for critical items such as child-nutrition programs are spared.
Donna Cooper is a Senior Fellow at American Progress.
Sources for tax breaks
Row 1: Figure represents half of the estimated $23 billion cost of weakening the estate tax for 2011 and 2012. See: Gillian Brunet and Chuck Marr, “Unpacking the Tax Cut-Unemployment Compromise,” Center on Budget and Policy Priorities, December 10, 2010, available at http://www.cbpp.org/cms/index.cfm?fa=view&id=3342.
Row 2: Figure represents 1 percent of the fiscal year 2011 tax expenditure estimate for the mortgage interest deduction, over 10 years. The vacation home deduction accounts for at least one percent of the tax expenditure cost. See: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012 (Executive Office of the President, 2011), table 17-1; Congressional Budget Office, “Budget Options” (2000), REV-02.
Row 3 (now re: estate planning): General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).
Row 4 (now re: itemized deduction limit): General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (Department of Treasury, 2010).
Row 5: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (subpart F active financing exception).
Row 6: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).
Row 7: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of two-year extension).
Row 8: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).
Row 9: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011) (10-year cost).
Row 10: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012, (Executive Office of the President, 2011), table 17-1 (expensing of multiperiod timber growing costs and capital gains treatment of certain timber income).
Row 11: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of recent two-year extension).
* Government Spending Undercover by Lily Batchelder and Eric Toder