Barack Obama in a breathtaking display of cynicism, blatantly sells out to large CorporationsSubmitted by Ian56 on Wed, 12/19/2012 - 07:59
In a breathtaking display of cynicism, Barack Obama more or less proposes Mitt Romney's platform to resolve the Fiscal Cliff.
He has demonstrated with absolute clarity that he is on the side of large Corporations and not on the side of the people.
WASHINGTON -- President Barack Obama, with his latest fiscal cliff offer, proposes extending the Bush tax cuts for everyone earning less than $400,000 a year, and paying for it by increasing taxes on the middle class and cutting Social Security and Medicare.
Obama's offer would allow the payroll tax holiday to expire, meaning middle class workers will see smaller paychecks in 2013. Economists have warned that the recovery is too fragile to risk a broad tax hike on workers. It would also gradually reduce Social Security, pension and disability benefits seniors are due to receive, taking a small bite up front, but building up to much larger cuts over time.
Obama's latest proposals to resolve the so called "fiscal cliff" sound more like Mitt Romney's platform every day.
N.B. The tax rates for those making more than $400,000 is a red herring. It affects a trivial amount of revenue.
HSBC settlement - a slap on the wrist shareholder penalty of 5 weeks of revenues.
William K Black quite rightly asks on Huffington Post "Why did Obama save a criminal enterprise like HSBC?"
Why didn't Obama take away HSBC's US banking license?
Why didn't he put some HSBC execs in jail?
Monsanto - why are about a dozen ex senior Monsanto employees are now in positions of influence in government?
Why is Monsanto getting carte blanche in the latest Agriculture Bill?
“The Farmers Assurance Provision” is the title of a rider, Section 733, inserted into the House of Representatives 2013 Agriculture Appropriations Bill. Somehow, as a farmer, I don’t feel the least bit assured. It allows carte blanche for Monsanto not to have to obtain FDA approval before planting."
Why aren't Joe Corzine and Jamie Dimon in jail over the MF Global theft from client segregated accounts and other frauds?
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