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Posts Tagged ‘Koch Brothers’

The corporate news pounced on the latest report issued by the Board of Trustees of the Social Security Trust Fund. CNBC News interviewed Michael Tanner of the Koch Brothers funded Cato Institute. Tanner was dumb enough or dishonest enough to say, “Every bond redeemed from the Social Security Trust Fund has to come out of the general revenue, so we’re actually increasing the federal deficit in order to pay off social security.” What a lie, and in many ways.

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The Social Security Trust Fund has a $2.6 trillion surplus. The Trust Fund purchased US Treasury bonds and collects about $160 billion in interest a year. Bonds are loans. The US government borrowed the $2.6 trillion from the Trust Fund, and it will soon be time to pay that money back to the Trust Fund. That will not add to the deficit at all since the Trust Fund did not need to invest in the bonds, but it was a prudent thing to do to collect the interest. But lets get to Tanner’s lie; the US government issues and sells new bonds to pay for any bonds coming due. Only interest is paid from the general funds unless there is a budget surplus that allows for paying down the total deficit. The folks at CNBC News made certain not to question Tanner’s lie. That’s because they want to keep us ignorant.

Second, the Chinese government has trillions of dollars invested in US treasury bonds, as does Wall Street. When the US treasury bonds held by the Chinese or Goldman Sachs, or US hedge funds come due, nobody says that by paying its debt, the US government is adding to the deficit. Why is a different standard applied to Wall Street and Chinese investors on the one hand, and the Social Security Trust Fund on the other hand? The answer, of course, is CNBC wants to keep us ignorant. The Social Security Trust Fund has not contributed a penny to the US deficit, but they don’t want us to know that.

The Trustee report mentioned the coming of a deficit for the Trust Fund in 2034, which will result in payment reductions for retirees of approximately 16 percent, unless something is done to plug the gap. Ethan Wolff-Mann, reporting for Yahoo News, claimed “A root cause for the financial woes for Medicare and Social Security is the aging baby boomer population.”

That’s another lie meant to distract you from reality. Tens of millions of US jobs that paid into the social security trust fund have been exported to low wage nations such as China. The difference between the old US wages and the new Chinese, Vietnamese, Pakistani, and Mexican wages have all gone into the pockets of the rich via higher corporate earnings, rising dividends, and surging share prices. Capital gains from the sale of assets (such as corporate stocks and bonds), and dividends are exempt from social security taxation. The rich, in other words, are not paying social security taxes on the trillions of dollars they have stolen from the rest of us. That’s why there is an impending deficit in the Trust Fund.

So the easiest way, and morally Jesus Christ way, to offset these government policies that have stolen from the Trust Fund is to have a graduated Social Security tax on dividends, as well as on capital gains derived from the sale of stocks and bonds. Of course, a Social Security tax on stock and bond transactions could also achieve the desired effect.

In either case, or in both cases should they be legislatively enacted, the Social Security Trust Fund would be solvent into infinity and most likely a significant raise can be provided to beneficiaries, which would then strengthen the US economy by increasing the demand for goods and services.

Steve Ruis has pointed out, “Note that the SS Trust Fund didn’t choose to buy US Treasuries, it is required to invest all excess funds in US Treasuries by an act of Congress! Some critics have referred to those treasuries as “worthless paper” when trying to undermine the SS system. Amazing!”

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19059210

The rise of Donald Trump is a clear sign that the Republican Establishment is out of touch with the Republican base. The base can no longer be fooled. The Republican Establishment represents Wall Street, Big Oil, and corporate leaders who benefit from international income redistribution scams, falsely marketed as trade agreements, as well as open borders, are completely at odds with the base. The last people to figure that out was the establishment.

A recent Harvard/Politico poll showed 85 percent of Republicans believe international trade scams cost the US more jobs than it creates. Yet the establishment, along with President Obama and Democratic henchmen, such as Wall Street Senator Ron Wyden, continue to push the Trans Pacific Partnership (TPP), the largest income and political power redistribution scam in US history.

During the presidential primaries, poll after poll showed Democratic candidate Bernie Sanders with much wider leads over Donald Trump than Hillary Clinton. This suggests that many Republicans are ready for change, and many of them were not happy with Trump. But Trump was their only choice.

The Republican Establishment was often battling it out with the Koch Brothers and their Tea Party wing of the Republican Party. The Koch’s also want trade scams and open borders in opposition to the base.

All of this suggests the Republican Party may be on the verge of a long-term splintering, especially since a large chunk of the base preferred Sanders, a New Deal Democrat disguised as a Democratic Socialist.

This also suggests why in 2015 Republican Wall Street US Senate Leader Mitch McConnell insisted to President Obama that a Democrat had to introduce Fast Track legislation into the senate. Wall Street’s choice to do this was Wall Street Senator Ron Wyden, a man whose votes in congress on behalf of Wall Street had cost his state a minimum of a hundred thousand jobs in the last ten years. No Republican senator dared to introduce the legislation in the senate. So the establishment clearly knew it was out of touch with its base.

 

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GMO

Vermont’s GMO labeling law will go into effect on July 1, 2016. The food industry spent tens of millions of dollars to try to stop this, but they apparently have given up the fight.

Last year, the Koch brothers controlled congressional representative, Mike Pompeo, attempted to get congress to pass the DARK Act, otherwise known as the Deny American’s the Right to Know Act, which would have stripped Americans voting rights across the United States when it came to voting on labeling GMO poisons.

Numerous independent studies link GMO’s to tumors, asthma, cancer, allergies, birth defects, deformities, kidney damage, liver damage, and several other maladies. For example, a French study showed that massive tumors began growing in rats fed only GMO foods after only three months. The industry studies, however, show that they only allegedly tested rats up to three months, which makes one wonder how many other tests the industry tried on rats that lasted longer than three months. See http://www.cbsnews.com/news/study-on-genetically-modified-corn-herbicide-and-tumors-reignites-controversy/. One has to wonder why the USDA approved GMO poison for human consumption back in 1996 considering they only looked at industry studies.

The industry studies, however, demonstrate absolute safety to humans, except for the studies that have been leaked to the public. See Cows Fed GMO Corn Died–Organic Authority. Also see A Valuable Reputation–the New Yorker.

For more information, click on the following link. Vermont GMO Labeling Law Going into Effect–Ecowatch

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Scientists employed by Exxon Mobile had the data showing climate change was occurring back in the 1970s. They also came to the conclusion that carbon dioxide emissions were the cause of it. Recently, the internal documents were leaked to the public.

This blog is about income redistribution, political power and corruption. Climate change isn’t a thing of interest for this blog, but corporate corruption is. This conspiracy is complete corruption.

According to the internal Exxon memo, Exxon executives decided to follow the path of Big Tobacco, which denied the link between tobacco and a variety of ailments, such as lung cancer, despite their own studies demonstrating these links. The GMO corporations are also following this format of lies when it comes to their products.

So Exxon executives began elevating offshore drilling platforms more than thirty years ago to prepare for rising sea levels while following a sustained public relations campaign to deny the relationship between their products and climate change.

“Here’s what senior company scientist James Black told Exxon’s management committee in 1977: “In the first place, there is general scientific agreement that the most likely manner in which mankind is influencing the global climate is through carbon dioxide release from the burning of fossil fuels.” To determine if this was so, the company outfitted an oil tanker with carbon dioxide sensors to measure concentrations of the gas over the ocean and then funded elaborate computer models to help predict what temperatures would do in the future.

The results of all that work were unequivocal. By 1982, in an internal “corporate primer,” Exxon’s leaders were told that, despite lingering unknowns, dealing with climate change “would require major reductions in fossil fuel combustion.” Unless that happened, the primer said, citing independent experts, “there are some potentially catastrophic events that must be considered…. Once the effects are measurable, they might not be reversible.” But that document, “given wide circulation” within Exxon, was also stamped “Not to be distributed externally.”

So here’s what happened. Exxon used its knowledge of climate change to plan its own future. The company, for instance, leased large tracts of the Arctic for oil exploration, territory where, as a company scientist pointed out in 1990, “potential global warming can only help lower exploration and development costs.” Not only that but, “from the North Sea to the Canadian Arctic,” Exxon and its affiliates set about “raising the decks of offshore platforms, protecting pipelines from increasing coastal erosion and designing helipads, pipelines and roads in a warming and buckling Arctic.” In other words, the company started climate-proofing its facilities to head off a future its own scientists knew was inevitable.”

Last fall, a Yale study in the Proceedings of the National Academy of Sciences showed that money from the Koch Brothers and Exxon played a key roll in polarizing the climate debate within this nation, even though Exxon’s own science showed the climate change was on the rise due to CO2 emissions.

The company’s sins—of omission and commission—may even turn out to be criminal. New York Attorney General Eric Scneiderman has launched a criminal investigation into this matter. This may account for why Exxon’s current CEO, Ray Tillerson, no longer claims the world is cooling, and that CO2 emissions “are having an impact” on global warming.

The Washington Post reported two months ago that ExxonMobil has a far saner view of global warming than the national Republican party.

Fred Hiatt, the paper’s centrist editorial page editor, drops this bombshell:

With no government action, Exxon experts told us during a visit to The Post last week, average temperatures are likely to rise by a catastrophic (my word, not theirs) 5 degrees Celsius, with rises of 6, 7 or even more quite possible.

Exxon Mobile website states the issue clearly;

“The risk of climate change is clear and the risk warrants action. Increasing carbon emissions in the atmosphere are having a warming effect. There is a broad scientific and policy consensus that action must be taken to further quantify and assess the risks.”

For more on this, check out the following link.

Ecowatch Reporting

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US Middle Class Senator Elizabeth Warren asks a simple question about the Trans Pacific Partnership (TPP); “If this treaty is so good, then why does President Obama want to keep it so secret?”

President Obama has recently called out Elizabeth Warren on her stance against the Trans-Pacific Partnership (TPP). Saying Warren is just flat-out wrong about TPP, Obama shows whose interests he really represents; billionaires like Bill Gates and Warren Buffett, and almost all major corporations, especially Wall Street Investment Banks and Monsanto. That’s who the president and Wall Street Senator’s Ron Wyden, Orrin Hatch and Mitch McConnell represent. They don’t represent the 99 percent whether your talking about liberals or conservatives, progressives or Tea Party members.

The TPP is a massive income and political power redistribution scam. This will rig the already rigged economic and political game even more against the middle class, but billionaires like Warren Buffett, Phil Knight, and the Koch Brothers will love it.

Sen. Warren isn’t backing down from fighting TPP. She’s making regular appearances and delivering speech after speech against the TPP.

At this recent rally, Warren goes item for item, by the numbers and explains why she is against TPP; they’re reasons Obama should be against it too, but he’s too heavily invested in Wall Street.

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A new congressional study suggests that massive immigration increases in recent decades have hammered middle-class wages. Whether through taking jobs or casting votes, hyper-immigration is revolutionizing the U.S.

We are a nation of immigrants, it is often reflexively said. But it is a little-known fact that our foreign-born population dropped more than 11% in the quarter century after World War II.

Since 1970, however, we have become a nation of hyper-immigration, as the foreign-born among us have exploded from fewer than 10 million to more than 41 million as of 2013 — a staggering 324.5% increase.

If a job cannot be exported, then immigrants are encouraged by business and government leaders to enter the United States to generate greater competition among middle class workers, which lowers wages and benefits. For example, a recent study shows that three out of four high tech workers are unemployed in their areas of expertise, and wages in the high tech sector are the same as during the early 1990s, and yet congressional leaders want to admit more immigrants via the H1-B visa. In this way wages and salaries will continue to stay artificially low, which benefits the 1 percent at the expense of the middle class.

The difference between the old higher wages (what wages should be under normal immigration increases) and the new lower wages with hyper immigration, goes straight into the pockets of the super rich via higher corporate profits, rising dividends and soaring share prices.

The middle class is getting hammered by the loss of millions of jobs that are exported via international agreements falsely marketed as free trade agreements. But the middle and lower classes are also getting hammered by hyper immigration. These two governmental policies are income redistribution scams perpetrated by the leadership of both major political parties and their billionaire and corporate sponsors, such as the Koch Brothers and Warren Buffett.

How badly has immigration and free trade policies been for the middle and lower classes?

“A new analysis from the nonpartisan Congressional Research Service for the Senate Judiciary Committee finds that during this era of free trade and hyper-immigration, incomes of the bottom 90% of Americans flat-lined, then dropped starting in 2000. By comparison, middle-class wages increased between 1945 and 1970.

Last year, Karen Zeigler and Steven Camarota of the Center for Immigration Studies found that, according to federal government data, “since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal).”

In the fourteen plus years since 2000, less than six million net jobs have been created in the United States, and all of them have gone to immigrants. On the other hand, according to the Federal Reserve, 28 million jobs were exported from the USA from 1990 to 2010, and several million more have been exported since 2010.

Salaries, wages and benefits would be going up if the United States had six million less working age immigrants. More significantly, however, US wages would be surging and our tepid economy would be booming if those trade agreements hadn’t been conceived. In both cases, trade agreements and immigration, income and wealth inequality in the USA would not be nearly so significant as it is now.

While so-called international trade agreements are the major cause of the income and wealth inequality of the last thirty-five years, with the 1 percent going from taking 8 percent of all income created in the USA in 1980 to 37 percent today, immigration (legal and illegal) is another, though admittedly lesser, but still significant, culprit in the financial war the super rich are waging against the middle class.

The Trans Pacific Partnership (TPP) is the largest income redistribution scam of all time. It is falsely being marketed as a free trade treaty. The Wall Street wing of the Democratic Party, led by President Obama and Wall Street Senator Ron Wyden, have merged with the Wall Street wing of the Republican Party. The TPP will provide incentives for US corporations to ship millions of US jobs overseas, and drive millions of Latin American immigrants illegally into the United States simultaneously, just like NAFTA did.

That’s why the TPP is another income redistribution scam for the 1 percent.

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President Obama has vetoed Congress’s bill that tried to force approval of the Keystone XL pipeline! But the president still has to make his final decision on whether KXL is in our national interest. Let’s face it. It isn’t.

Read More Here From the Sierra Club

Estimates are that building the pipeline will bring a few hundred to a few thousand permanent jobs to the United States, but the potential environmental impact is massive. On the other hand, the battle over the pipeline is a battle between heavyweight billionaires.

In one corner are the Koch Brothers. Warren Buffett is in the other corner. The Koch Brothers have a sizable investment in the pipeline and the tar sands. Buffett owns the Burlington Northern Santa Fe railroad, which is the largest transporter of crude oil in the United States.

If Obama approves of the pipeline, Buffett loses and the Koch’s win. If Obama disapproves of the pipeline, the Koch Brothers lose and Buffett wins.

The Koch Brothers are big investors in the Republican Party. Buffett is a big investor in the Democratic Party. Obama will make his decision based on the priorities of the Democratic Party, just like a Republican president would make this decision based on the priorities of the Republican Party.

Expect Buffett to win.

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