Why The Republican Leadership Needs to Go – It is Political Civil War
Walter Jones – One of the Last Fiscal Conservatives Still Standing
The Republican Elite Beltway establishment is celebrating the victory of Thom Tillis, Speaker of the North Carolina House, over his Tea Party and Evangelical rivals in Tuesday’s primary for the U.S. Senate. However, the deliberate assault upon Walter Jones by John Boehner has been outrageous and failed. Boehner purged all economic conservatives from the House Finance Committee. Boehner then had massive amounts of money sent it to North Carolina to try to get rid of Walter Jones for his support of Ron Paul and to try to save the country.
The Republican Beltway elite massively funded the effort to try to purge all economic conservatives so Boehner can keep Washington as the inside game hell-bent on sending the nation into absolute disaster. Boehner directed a million dollars of super PAC money poured into the district that tried to paint Walter Jones as a liberal when that is Boehner to the letter. Boehner is simply a low-life politician who if he was dictator, he would never champion any reform. It is business as usual for him and he is the leading cause of why the Republican party may split.
Jones voted against Obamacare and the bailouts of the big banks, Wall Street and Detroit. He voted against cap and trade, and TARP, the trillion-dollar stimulus package. Boehner has no such track record. Jones voted against every increase in the debt ceiling in 10 years and refuses to vote for any U.S. budget not in balance.
Walter Jones came to believe that voting to send Americans to fight and die in Iraq was the worst mistake of his career. Jones now spends hours each weekend writing personal letters to every family that lost a son or daughter in a war he wrongly supported. And he has resolved to oppose every idiotic war into which the country is being manipulated.
The War Party front, the “Emergency Committee for Israel,” is chaired by Bill Kristol, who has become the cheerleader for war that has cost 4,500 American lives. Bill has funneled hundreds of thousands of dollars into attack ads to get rid of Jones for he will not support another war based upon lies.
Then there was the Ending Spending Action Fund, a super PAC led by billionaire Joe Ricketts and backed by the Macau-Vegas casino mogul Sheldon Adelson, dumped scores of thousands dollars into the 3rd District to deceive voters into believing that Walter Jones was a liberal. Again, one must question why Ricketts is against fiscal conservatism.
The Republican Party is doomed. These types of people are so country-club establishment that they cannot see that they are seriously out of touch with America. They are placing the future at risk no different from the Democrats.
Unions want to Tax Exchanges to Pay For Their Pensions
Believe it or not, teacher unions only see their own situation. Unions have destroyed Philadelphia. The Convention Center is a huge loss because of the demands of the unions. Now, the Chicago Teachers Unions are arguing to tax the exchanges in Chicago to pay for their lavish pensions.
In New York, Nurses want to tax transactions on Wall Street to pay for their pensions. It is amazing how these people see nothing wrong with making others pay for their benefits that have nothing to do with the services rendered.
Taxing Whatever Moves – A Political Tradition
COMMENT: Your forecast on marijuana was fascinating. I assume it lined up with the Sovereign Debt Crisis starting in 2010 and therefore the economic pressure would cause the change by 2013. Very interesting.
GH
REPLY: Yes, you are correct. This is why I say ABSOLUTELY EVERYTHING is 100% Connected. The introduction of the Marijuana Tax in 1937 was followed by 31.4 years until it was overturned by the Supreme Court and then 43 years from 1970 drug laws until the legalization process began in 2013. Everything has amazing order. This frequency appears in everything.
Note that the recovery out of 1932 lasted into 1937 and the crash thereafter. Roosevelt bragged how he turned the economy around at his State of the Union Address in January 1937. By March the market peaked and the crash began. Socialist claim Roosevelt reduced spending. However, they ignore of course the massive tax increases that caused the Crash of 1937 – including the introduction of the Payroll Tax.
Roosevelt began to tax everything in sight. He imposed taxes on profits in silver trading after silver began to rally from its low in 1932. The Silver Tax stamps were used to pay the 1934-63 tax on the profit on transfer of silver bullion. It was the removal of silver in 1964 from the coinage that ended the tax.
There was the 1935 Potato Tax. The law restricted the export of potatoes and mandated that they be used instead to provide direct relief to those in need. Because of the federal government’s direct involvement in the economic affairs of American potato growers, this law was widely regarded as one of the most radical and controversial pieces of legislation enacted during the New Deal. The United States Supreme Court declared it unconstitutional in 1936.
The United States had a tax on sales or transfers of stock from 1914 to 1966. They imposed the tax to pay for World War I. As always, once they tax something, they forget to get rid of it. This was instituted in The Revenue Act of 1914 (Act of Oct. 22, 1914 (ch. 331, 38 Stat. 745)), in the amount of 0.2% (20 basis points, bips). They then doubled the tax moving to 0.4% (40 bips) in 1932 despite the fact that the market fell 90%.
The stock transfer tax was repealed only after the Crash of 1966 in hopes of supporting the market. The 1966 Crash was devastating to mutual funds because they ere listed on the exchange and were bid up beyond their net asset value. Reform took hold and ever since funds do not trade that way any more but are based on net asset value.
Bull Market in Taxes
In the UK, people are suddenly shocked that the government can simply just grab money out of your account without any court order or a right to object in advance as reported by the Telegraph. The desperate need for cash is rising and after 2015.75, hold-on to your nickers – we will see significant increases in taxation. Politicians will make the very same mistakes as Roosevelt did that led to the Crash of 1937.
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