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Michael Monk over at Firedoglake found a very great video snippet. I am shamelessly copying the link from the video from his blog post here so you can look at the video in embedded style… Obama says: And understand this: If American workers are being denied their right to organize and collectively bargain when I’m in the White House, I will put . . . → Read More: Will Obama find those shoes? Pro Publica posts a nice article on the failure of the Administration to enact legislation enabling courts to modify the principal and terms of a primary residence mortgage in a bankruptcy. Before he took office, President Obama repeatedly promised voters and Democrats in Congress that he’d fight for changes to bankruptcy laws to help homeowners—a tough approach that would force banks to modify . . . → Read More: Obama did not reach out to help homeowners As it took Nixon, with clear anti-communist credentials to stop the Vietnam war (even with secret bombing of Cambodia, and CIA shenanigans all over Southeast Asia, Kissinger, etc.); unfortunately it looks like it will take a Republican President with tax reduction and deficit reduction credibility in 2012 or in 2016 to finally say to the American people that the honest way out of . . . → Read More: A Nixon for Tax Increases? President Obama has twisted the arms of the Senate Republicans so much that they are going to give him exactly what they want: extension of the Bush tax cuts for two years. Ezra Klein at the Wall Street Journal reported on Mark Zandi‘s thoughts: I also asked him about the Bush tax cuts. His own figures say they’re a horrible deal on stimulus . . . → Read More: Taxcut haircut This is a great video by Christopher Whalen on Bloomberg. He is saying some of the things which are going to be working out over the next few years in the slow motion of foreclosures. The knock on effects will work out as a long downward pressure on asset classes, not a single Lehman like event: You guys in in the media have a very tough time. You’re looking for events. You’re trying to cover the news minute by minute. This is cancer. . . . → Read More: Foreclosure-gate is a ‘cancer’ The U.S. government taxes expatriate citizens on their worldwide income regardless of where it is earned or where they live, making them the only people in the developed world who are taxed in both their country of citizenship and country of residence…these rules are getting tougher and the penalties more draconian by the year… experts see a declining foreign investment in America. . . . → Read More: Toxic Citizens The US actually ranks today, sixth in global innovation-based competitiveness; 11th among industrialized nations in the fraction of 25- to 34-year-olds who have graduated from high school; 16th in college completion rate; 22nd in broadband Internet access; 24th in life expectancy at birth; 27th among developed nations in the proportion of college students receiving degrees in science or engineering; 48th in quality of K-12 math and science education; and 29th in the number of mobile phones per 100 people. These are clear areas where we should positively WANT our government to get involved, and to spend money, but if the current climate of political divisiveness endures for the next 2 years in a hung Congress, or even for the next 6 years of a potential Obama second term, the consequences for America’s future will be dire. . . . → Read More: I thought we’re number 1! Nope, how about 20-something? Congress has rightly been concerned with wholesale tax evasion by fat cats, but the Foreign Account Tax Compliance Act (FATCA) provisions are designed – as a largely unintended consequence – to chill US exports and our international competitiveness. . . . → Read More: FATCA: US Export destruction act The US has (to mix a few metaphors) shot itself in the foot by building large speed bumps to exports. These things are by no means fore-ordained. The US could, with an adjustment of its tax policies change to more export growth. But the current administration has decided, contrary to its stated campaign promises, instead to carp at others, whine, and continue increase its anti-export tax treatment of overseas Americans and foreign investors. . . . → Read More: Geithner’s chiding of others should lead to export friendly tax reform here |
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