The Buffet Tax Joke

Mr. Buffet is smart. He is smart enough to propose a new tax for “millionaires and billionaires” that he and many others likely will not have to pay. Buffet’s joke is on us, and President Obama is using this tax joke to garner votes through class warfare. Here’s why Buffet will not pay more taxes.

President Obama’s Conflicting Debt Positions

The Quote of the Decade:  “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ‘s debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” ~ Senator Barack H. Obama, March 2006 As President Obama, he has:

Who’s Really To Blame For Our Financial Crisis?

The answer is BOTH parties. The democrats, particularly Clinton’s Administration, caused the most harm. Here is the history:

1977:  Under Carter the Administration the Community Reinvestment Act (CRA) was enacted that encouraged banks to provide home mortgages in their low-income neighborhoods where low-income customers had deposits — a good and noble goal.

1995:  The Clinton Administration rewrote the CRA rules to REQUIRE loans be made to low credit quality borrowers and these new rules became effective in January 31, 1995. This was the start of subprime mortgages — where borrowers did not meet the historic standards of the homeowner of the past.

Pre-September 2012 Blog Articles By Dr. L. Lynn Cleland

Inverse Chronological Order 

Are Businesses and the Wealthy “Bad Citizens?”

Our citizenry has been lead to believe by politicians that businesses and the wealthy are “bad greedy citizens” because they have too much power and receive special treatment. This works out nicely for the politicians since it provides food for their rhetoric. But is this conclusion true or false? The answer is “false.” The argument is up side down.

Politicians in return for favors and money (bribes) bestow power and special treatment to businesses and the wealthy. The politicians have past laws and rules that allow them to legally accept favors and money and they eagerly do so. Who are the “bad citizens” in this scenario? Is it those who offer the (legal) bribes to the politicians or the politicians who passed the laws and rules that allow them to take bribes?

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