Rick Santelli's Chicago Tea Party |
- Kucinich:It’s time to take our freedom back from The Fed
- Payroll Tax Cuts: Will They Bankrupt Social Security?
- Tea Party leader takes issue with Powell blaming them for problems in America
| Kucinich:It’s time to take our freedom back from The Fed Posted: 30 Nov 2011 07:48 AM PST
Congressman Dennis Kucinich (D-OH), a longtime advocate for reform of the Federal Reserve, is sharply criticizing the Federal Reserve today after Bloomberg news reported that the Federal Reserve secretly committed nearly $8 trillion in support to American and international financial institutions during the 2008 bailout. Kucinich recorded a video for his website before going to the floor of the House of Representatives to call upon Congress to reclaim its Constitution primacy over monetary policy. To read more, visit: http://www.infowars.com/kucinichits-time-to-take-our-freedom-back-from-the-fed/ |
| Payroll Tax Cuts: Will They Bankrupt Social Security? Posted: 30 Nov 2011 07:46 AM PST
The Democratic winds of high-income taxation are picking up and the Republican thunderheads of off-setting spending cuts are rolling in as Capitol Hill braces for yet another partisan thunderstorm. This time the battle is over payroll taxes, which fund Social Security, and whether to end, extend or expand the 2 percent cut that is set to expire December 31. The one-year cut to Social Security's funding stream decreased federal revenues by $112 billion in 2011, but the already-dwindling trust fund for Social Security remained untouched because the government borrowed extra money to fill the gap, adding instead to the $1.3 trillion deficit. "On paper [the payroll tax cut] does nothing to Social Security," said Andrew Biggs, a resident scholar at the American Enterprise Institute. "It is just as solvent as it was before. But that's not the sort of bookkeeping that you would do in the private sector." Senate Democrats want not only to extend the current tax break, but further reduce it from the original 6.2 percent to 3.1 percent. The Democrat's proposal also cuts employers' share of the payroll tax in half, down to 3.1 percent on the first $5 million paid in wages. Congressional Republicans, who are wary of even extending the cut at its current 2 percent level, are unlikely to support the expanded cuts that Democrats are pushing for. "The problem here is that the payroll tax doesn't go into general revenue, it supports Social Security," Senator Jon Kyl, R-Ariz., the No. 2 Republican in the Senate said on "Fox News Sunday." "And you can't keep extending the payroll tax holiday and have a secure Social Security." To read more, visit: http://abcnews.go.com/blogs/politics/2011/11/payroll-tax-cuts-will-they-bankrupt-social-security/ |
| Tea Party leader takes issue with Powell blaming them for problems in America Posted: 30 Nov 2011 07:44 AM PST By Jack Minor – Greenly Gazette A local leader with the tea party has taken issue with statements made by former Gen. Colin Powell saying the Tea Party was to blame for the divisiveness in Washington, while omitting any similar criticism of leftist groups. In an interview with ABC's Christiane Amanpour, Powell was asked about the "poisonous" tone in the country that was preventing Congress from passing legislation such as Obama's jobs bill. Amanpour took issue with members of the tea party referencing the founding fathers and the Constitution. "The Tea Party, which quotes left and right the Founding Fathers, they say compromise is a dirty word, and they try to point to the Founding Fathers and the Constitution." Powell said the tea party was wrong for standing on constitutional principles and that they needed to compromise. "The Tea Party point of view of no compromise whatsoever is not a point of view that will eventually produce a presidential candidate who will win," Powell said. "Compromise is how this country was founded, and unless two people in disagreement with each other don’t find a way to reach out to one another and make compromises, you don’t get a consensus that allows you to move forward." Powell also appeared to criticize the media for drawing attention to specifics of what is being proposed in legislation and should instead let them simply do their work in private. "So what we have to do is sort of take some of the heat out of our political life in terms of the coverage of it, so these folks can get to work quietly." To read more, visit: http://www.greeleygazette.com/press/?p=12092 |
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