IRS Agent Not Too Bright
Apr 1, 2009 Political
A 43-year-old IRS agent named Jim H. Liu from California has admitted that he filed a false tax return by claiming a loss on the sale of property on which he actually made a profit. This guy actually admitted that he did this deliberately after two months of expert instruction explaining how to avoid taxes. Nominee after nominee for the Obama administration has stepped up to explain that taxes were not paid and that the slight was merely an oversight. Tim Geithner deliberately failed to pay his taxes and he is now in charge of collecting them. He is even threatening those who have failed to pay their taxes. Now this is the way it is done.
Obama’s newest nominee for Health and Human Services, Kathleen Sebelius, has admitted that she made a mistake on her taxes and she paid around $7000 plus interest to clear the matter up. She follows Tom Daschle who failed to pay his taxes.
Liu faces three years in prison (though there is no indication he will get that) for cheating on his taxes.
If he had been a nominee for the Obama administration he would have gotten the job, kiss, kiss, all forgotten.
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Tags: daschle, fraud, geithner, liu, Obama, sebelius, tax cheats, taxes
Nationalized Socialism Is Obama’s Goal
Mar 21, 2009 Political
It is no secret to people who are not infected with Obamaitis that he is a radical who has studied Saul Alinsky and that he wants to make this country a Socialist haven. He has already worked toward that and his grand plans include socializing health care and confiscating wealth from the affluent and giving it to the less affluent. His toadies are also working on back door gun bans to run around the Second Amendment. Top it off with the re-imposition of slavery in this country and it is not hard to see we are heading in the wrong direction.
Recently, the government demonstrated its intentions by using the tax policies to negate legal contracts and to punish those who received money to which they were entitled. The punitive taxes are being implemented because Congress failed in its duties. They are punishing people in order to cover the mistakes they made and that Obama allowed. This is how government will handle laws it does not like. Unfortunately, this will probably stand because the courts do not like to get involved in tax legislation.
I know there are many who are happy about this but they ignore the rule of law in their delight. But, but, Congress is only taking care of the mess that these companies made. These companies got taxpayer money so we Congress can make sure they act right.
[note]Thought to ponder: Barney Frank said the US owned part of AIG so it was OK to negate legal contracts. Why has he not advocated for negating the autoworker union contracts? We gave them money as well.[/note]
I know, people believe that Congress has every right to get involved in businesses that taxpayer money has gone to (even though some companies were forced to take the money) but now Obama wants to go after all executive pay regardless of whether the companies received a bailout or not. Drudge is reporting that a Sunday New York Times piece will report that:
Obama will call for increased oversight of ‘executive pay at all banks, Wall Street firms and possibly other companies’ as part of sweeping plan to ‘overhaul financial regulation’, NY TIMES reporting Sunday, newsroom sources tell DRUDGE…
What gives Obama the right to decide executive pay in any company? What gives him the right to decide how much money an individual is allowed to make?
Nothing in our system of government does but Obama does not like our system of government. He wants us to be a Socialist nation where government decides what people do and how much they make. He wants to take wealth and move it in a downward direction rather than encourage people to make money and move upward.
Maybe a few things can happen to derail this phony leader and his gang of Socialist conspirators. First of all, companies that did not get bailout money should tell the administration they WILL NOT cap pay or bonuses and that as long as they make money they will decide how to spend it. All companies (whether they got bailout money or not) should stop ALL political donations. If they employ lobbyists then they should fire them. Not one dime should come from anywhere in the financial district. That would reduce the amount of money going to politicians by millions. I also wonder how it would screw things up if all the folks at AIG who received bonuses donated enough of it to charity to offset the punitive taxes imposed by Congress. I would donate 100% of it to charity before I paid 90% in taxes on it.
Congress and the usurper in the White House are out of control. They are going balls to the walls in order to steamroll this country. They want Socialism and they are working very hard to get it. I read a quote that Socialism works until you run out of other people’s money. We are already spending the money of future generations. When will the madness stop?
I asked earlier why the Democrats are not going after union contracts the way they did the AIG contracts. They want more union people in this country and they are working hard to get all the workers unionized through card check and through fast track amnesty plans for illegals. They want nationalized socialism with workers who do the bidding of their charismatic leader.
They called George Bush the Nazi and compared him to Hitler but Obama is more closely aligned with those items. If we do not oppose him now it will not be long before brown shirted Obama Nazis will be marching in our streets.
What do you think a national civilian security force is for? Here is a hint: It is not to stop people from outside our borders. That only leaves those within…
Join the resistance.
Wake up America.
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Tags: aig, bonus, confiscation, nazi, Obama, socialist, taxes, wealth
Bailout Companies Pull A Geithner
Mar 20, 2009 Political
At least thirteen firms receiving bailout money from the US taxpayer have not paid their taxes following the stellar example set by Treasury Secretary Timothy Geithner.
At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.
Rep. John Lewis, chairman of a House subcommittee overseeing the federal bailout, said two firms owe more than $100 million apiece.
“This is shameful. It is a disgrace,” said Lewis, D-Ga. “We are going to get to the bottom of what is going on here.”
The House Ways and Means subcommittee on oversight discovered the delinquent taxes in a review of tax records from 23 of the firms receiving the most money, Lewis said as he opened a hearing on the issue.
“If we looked at all 470 recipients, how much would they owe?” Lewis asked. AP
These companies were required to sign paperwork indicating they had no unpaid taxes but their tax records were never requested by the government. Now we are learning that they owe hundreds of millions of dollars in taxes.
I have no sympathy for those who fail to pay their taxes and neither does the government, unless of course the entity not paying them is a Democrat or “the smartest person in the room.”
I am perturbed however, that the Congress gins up anger over this issue when the target is a company in the US. I certainly believe the anger is warranted but where was all the anger when Tim Geithner was being confirmed. This guy deliberately did not pay his taxes and only ponied up the money (no interest or penalties) when he was selected to serve in the Obama administration.
Where is the indignation from the ethics committee investigating Charlie Rangel’s failure to pay taxes? Where was the indignation over Daschle not paying his taxes?
It seems to me that the government is selective in its anger over those who fail to pay taxes. There should be one standard for everyone. If these companies have not paid their taxes then they need to be held accountable and the taxes should be collected.
The same is also true for any entity that did not pay taxes. All these Democrats are running around pointing fingers but they don’t seem to be too interested in looking in a mirror.
How ironic is it that the government agency that Geithner is in charge of will be going after these unpaid taxes?
The bad thing is these companies will probably pay their taxes with the bailout money. They will use our taxes to pay theirs.
This is what happens when the government gets involved in private business.
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Obama And Dodd Are To Blame For AIG Mess
Mar 18, 2009 Political
There is a big uproar about the retention bonuses that were paid to AIG employees after the company received over 170 billion dollars of bailout money. There are a lot of players involved but Barack Obama and Christopher Dodd are the primary culprits in this mess. More on that later.
The idea of bailing out AIG or any other company did not appeal to me and I was against it from the start. There are many people who felt that we had to bail the companies out to keep the economic foundation from collapsing. To you folks who wanted this, you got what you deserved.
The government, that is the taxpayer, should not be bailing out companies. They make it on their own or they fail and someone else takes over. By allowing government intervention we have opened a Pandora’s Box. All that happens as a result of the government sticking its nose where it does not belong is that things get even more screwed up. Very few of the people in Congress have any experience actually running a business so this, coupled with the speed with which the first bailout was passed, was a recipe for disaster and a disaster it was. The people in Congress (along with the Bush administration) who wrote the bailout bill failed to provide oversight and they failed to ensure that there were strict guidelines as to how the money could be spent.
The Obama administration took over and he asked for more money to be released. He also, with reckless abandon, pushed a bill through that he dubbed a stimulus plan. That plan was absolutely needed and if it was not passed the world would come to an end, or at least this is how Obama presented it.
This is where Obama and Dodd assumed the liability for the mess. AIG employees were not paid bonuses because the issue was not addressed. They were paid bonuses because it was addressed and Dodd made sure they could get paid. Dodd added an amendment to the stimulus bill that specifically allowed the bonuses to be paid. The members of Congress were well aware of the bonuses that were due and they were aware last year when all this was being worked on. They ignored that issue until Dodd put these words in the bill:
Crack down on bonuses, retention awards and incentive compensation:
Bonuses can only be paid in the form of long-term restricted stock, equal to no greater than 1/3 of total annual compensation, and will vest only when taxpayer funds are repaid. There is an exception for contractually obligated bonuses agreed on before Feb. 11, 2009.For institutions that received assistance totaling less than $25 million, the bonus restriction applies to the highest compensated employee; $25 million to $250 million, applies to the top five employees; $250 million to $500 million, applies to the senior executive officers and the next top 10 employees; and more than $500 million applies to the senior executive officers and the next top 20 employees (or such higher number as the Secretary determines is in the public interest). Fox Business (includes graphs showing who AIG donated money to. Now you know why Dodd added the amendment) [emphasis mine]
Dodd’s amendment allowed the bonuses to be paid. Let me write that again; Dodd added an amendment that allowed the bonuses to be paid.
Certainly the amendment had to be voted on so there is no excuse for people not to know that the bonuses were going to be paid. Obama pushed this bill through at light worker speed. The bill was over a thousand pages long and no one had time to read it before it was voted upon. Obama did not read it before he signed it. So what we have is a trail of incompetence.
Senator Dodd is now trying to get the money back. He suggested heavily taxing the money and that moron Chuck Schumer stated today that the new CEO of AIG had better convince the employees to return the bonuses or Congress was going to tax nearly 100% of it to ensure it got back to where it belongs “in the hands of the taxpayer.”
First of all, it will never get to our hands. Congress will spend it on something else. Second of all, why all this phony concern for taxpayers now? They had no concern for us when they passed the trillion dollar, pork laden, spending bill and they had no concern for us when they passed the omnibus and its 9000 items of pork. Why the righteous indignation now? And who does Dodd think he is to vocally oppose this when he added the amendment that allowed it to happen?
Obama and Dodd as well as all the other screamers (like Barney Frank and Chuck Schumer) are trying to cover up the fact that they screwed this up royally. They are now using the power of Congress to punish people who only got that to which they were entitled by virtue of a contract and a bill signed into law by Obama.
I don’t like the idea that AIG got the money and I don’t like the idea that these issues were not addressed when the original bailout was written and that they were not addressed correctly when the pork filled stimulus was crafted. But, the fact is, under the law, the people who received bonuses are entitled to them.
Another fact is that Obama, Dodd and the others are trying to put this on AIG when these morons knew this was going to happen. When the news broke and people started complaining these so called leaders all of the sudden acted like this was a shock to them. They acted like it was irresponsible and an affront to taxpayers when they all knew about it and they codified it; Dodd with the amendment, members for voting on it, and Obama for signing it.
Another thing to address is whether Congress can make a law that specifically taxes specific employees in one particular company. Does Congress have the authority to write a law that says that a certain group of people in a certain company must pay 90 or 100% tax on a specific bonus? I would imagine that this would be an issue for the Supreme Court to decide under the issue of equal protection.
If Congress can do this then what would stop them from deciding that that a certain job class or certain workers in other companies made too much money and then pass laws taking as much of that income as they wanted? This is a very important issue and it gets at the heart of just how much power Congress actually has.
If they screw these workers out of their bonuses (sorry folks but no matter how you feel about it, they are entitled to them) then they could be asking for trouble. Congress sunk 170 billion dollars in AIG because if AIG fails then the economy will follow it, at least according to those who pushed the bailout. What would stop AIG from saying screw it and closing its doors. What would stop them from just shutting down and causing turmoil? The government owns about 80% of the company now but the government can’t run it.
Speaking of owning 80% of the company, the entire issue shows just how wrong it was to bail them out in the first place. Government said they were buying up shares in companies in order to help them get back on their feet. We were told they had no interest in nationalizing these companies (at least no more than short term) and that government had no interest in controlling them.
Today Barney Frank said that we [the government] own 80% of the company and that it was time to exercise ownership and stop the bonuses from happening. This is nothing more than a push closer to socialism. Government tells you how much you can make and how much you have to give back. Government takes control of companies and decides what employees can or cannot do regardless of contractual obligations. Government erodes the freedoms that people enjoy and soon instead of building wealth government ensures that all of us are equally poor.
Those who voted for Obama, this is what you voted for. Those who wanted the bailouts, this is what you asked for. You have no right to complain and you have no right to be upset about what is taking place because you wanted this to happen.
As for those of you that are threatening the lives of AIG workers and directing your anger at them; you are wrong. Your anger should be directed at Obama and Dodd and everyone else who voted for the stumulus package. Dodd added the wording and Obama signed it into law. THEY KNEW ALL ABOUT IT FOR QUITE SOME TIME AND THEY ALLOWED IT TO HAPPEN.
Direct your anger at Congress and at Obama. They deserve your wrath.
As an aside, this is the second time not reading a bill has caused embarrassment. Obama issued an EO allowing federal funding of embryonic stem cell research and then signed the omnibus which specifically forbade using federal money to pay for it. He also signed the stimulus allowing the AIG employees to receive their bonuses.
One final point. If there are other companies with employees who had contracts for bonuses then they will be entitled as well. Dodd’s amendment was not specific to any company.
This is what happens when inexperienced, incompetent, self serving people run things. They gave us the financial meltdown and now this.
We need a do over. Let’s get rid of everyone in Congress and the Administration and replace them with competent folks.
**The Obama administration is claiming that it only found out about the bonuses a month ago despite media claims to the contrary. The bonus issue was known for quite some time by members of COngress and probably Geithner. Dodd certainly knew. He would have to know so he could take care of those who have contributed so much money to his campaign.
***Obama received 100 thousand dollars in donations from AIG
Also:
NewsMax
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Tags: aig, bailout, barney frank, contract, dodd, law, Obama, schumer, taxes
Obama Scoffed When McCain Said It
Mar 15, 2009 Political
Back during the campaign John McCain talked about taxing health care benefits provided by employers. I am not in favor of taxing benefits such as health care that employers provide and think it is counter productive. Taxing it would make employers less inclined to provide it. The left was not impressed with it either and Obama scoffed at the idea and called it a large increase on the middle class. Obama failed to mention that McCain intended to offset the tax with a tax credit for their health care.
The International Herald Tribune is reporting this regarding Obama’s position at the time:
In television advertisements last fall, Mr. Obama criticized his Republican rival for the presidency, Senator John McCain of Arizona, for proposing to tax all employer-provided health benefits. The benefits have long been tax-free, regardless of how generous they are or how much an employee earns. The advertisements did not point out that Mr. McCain, in exchange, wanted to give all families a tax credit to subsidize the purchase of coverage.
The article goes on to state that Obama might regret his position if he were to win and now it appears that their concern had merit. Barack Obama is open to taxing the health care benefits that employers provide as a way to obtain money to pay for those who do not have health care. Once again, this rookie is working to require those of us who pay our bills to pay the bills of others. We have to pay for their houses so why not their health care?
Obama, at the time of the campaign, called McCain’s proposal the the largest tax increase on the middle class in history but now it looks as if he is open to imposing the largest tax increase on the middle class in history. Once again we see that Obama is not doing what he promised. He is now aligning himself with the policy of a rival, a policy he clearly denounced.
Will the media pick this up and run with it? Will they denounce this and scream about how unfair it is? Will they attack Obama like they went after McCain?
Of course not and his toadies, some of whom comment here, will excuse this and say it is for the good of the nation. They will not look at it as a flip-flop, or worse a lie, but will instead discuss how much this guy cares for people.
I think Obama had these kinds of plans in mind when he was debating McCain. Obama wants to have all health care provided by the government and the way to do that is to destroy the private sector and force employers to abandon health care benefits for employees. If he intended to do this all along then he was lying back then.
One thing is certain, he described it as the largest tax increase on the middle class which means he is not being truthful when he says he will cut taxes for 95% of the people.
This is just another example of spreading the wealth. It is also another example of Obama not being able to do what he said or to stand up for what he said were his beliefs. He is a typical politician and this is not change we can believe in.
They are painting Republicans as the party of NO but it looks like Obama is the leader with NO (scruples, truth, or convictions).
I hope those of you who voted for this guy are learning something though I seriously doubt that you can teach them much. The Kool Aid is very strong.
Also:
NYT
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Tags: benefits, campaign, distortions, health care, lies, McCain, Obama, taxes