Political Discussions

Tax cuts=Wealth re-distribution

TrueBlue — Sun, 04 Jan 2009 12:27:56 GMT

If you are a wage earner then the GOP are redistributing your hard earned money to the wealthy.

This is because only the SS payroll tax payers are paying a SURPLUS of tax revenue. SS payroll taxes are collected ONLY on wages under $100,000.00. Republican INCOME tax cuts take the payroll tax surplus collected from wage earners under $100,000.00 and REDISTRIBUTES 90% of it to incomes over $100,000.00 and to Capital Gains. Millionaires who paid not one penny into the payroll tax surplus!
Please explain how an income tax cut does not redistribute the payroll tax surplus!

Wealth Re-distribution Republican style.

Are Socialists Deciding Close State House Races?

micapcon — Fri, 01 May 2009 00:36:11 GMT

The March/April 2009 Michigan Capitol Confidential carries a story about a program by the Greater Detroit Democratic Socialists of America to help candidates who line up with their values win closely contested races for the Michigan Legislature. Using organized door-to-door canvassing, fundraisers and other forms of aid, the group claims credit for getting four new Democratic lawmakers over the finish line. Those lawmakers are: Rep. Sarah Roberts, D - St. Clair Shores; Rep. Vickie Barnett, D - Farmington Hills; Rep. Jon Switalski, D - Warren; and Rep. Llisa Brown, D - West Bloomfield.

What do you think?

Unemployment in U.S. Increases to 8.5%, 25-Year High

gudknightors — Fri, 03 Apr 2009 20:23:45 GMT

Unemployment in U.S. Increases to 8.5%, 25-Year High

April 3 (Bloomberg) — The U.S. unemployment rate jumped in March to the highest level since 1983 and service industries shrank at a faster pace, indicating the economy remains trapped in what’s likely to be the longest recession since the 1930s.

Federal Reserve Vice Chairman Donald Kohn said both the Obama administration and central bank must remain “flexible and open” to further measures because the economy and financial markets aren’t “out of the woods yet.” The labor-market rout will make it tougher for President Barack Obama to follow through on his pledge to save or create 3.5 million jobs.

The economy lost 663,000 jobs in March, bringing losses since the slump began to about 5.1 million, the worst in the postwar era, Labor Department figures showed in Washington. The 8.5 percent jobless rate was consistent with the forecasts of 79 economists surveyed by Bloomberg News. The Institute of Supply Management’s non-manufacturing index unexpectedly dropped.

“We could continue to see a few more months of really bad employment numbers before it starts to ease,” said Nariman Behravesh, chief economist at IHS Global Insight in Lexington, Massachusetts. Behravesh projected the jobless rate will peak between 10 percent and 10.5 percent in early 2010. “We aren’t there yet, but we are getting closer to a bottom,” he said.

Treasuries, Stocks

Treasuries slumped after the jobs report was no worse than what economists had forecast, with benchmark 10-year note yields rising as 2.84 percent at 11:42 a.m. in New York, up from 2.77 percent late yesterday. The Standard & Poor’s 500 Stock Index fell 0.3 percent to 831.82.

Job cuts have been spreading from manufacturers such as Johnson Controls Inc. and Dana Holding Corp. to service providers like International Business Machines Corp. and even the U.S. Postal Service.

In addition to cutting jobs, companies also reduced hours for those still on payrolls. The average number of hours worked fell to 33.2 per week, down six minutes from February and the fewest since records began in 1964.

Revisions subtracted 86,000 workers from January payrolls while February’s drop of 651,000 was not revised.

The last time the unemployment rate was at 8.5 percent was in November 1983, when the economy was recovering from the 1981- 82 recession that pushed the rate to almost 11 percent. Then Fed Chairman Paul Volcker boosted interest rates to quell soaring inflation following the 1970s fuel crisis.

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Payroll Forecast

Payrolls were forecast to drop by 660,000, according to the median of 80 economists surveyed by Bloomberg News. Estimates ranged from losses of 525,000 to 750,000. Forecasts for the jobless rate ranged from 8.2 percent to 8.7 percent.

“The hope and expectation is that things will get a little less dire in the second quarter as various stimulus efforts kick in,” said Ethan Harris, co-head of U.S. economic research at Barclays Capital Inc. in New York, who used to work at the Fed.

Today’s report showed factory payrolls fell by 161,000 after declining 169,000 in the prior month. Economists forecast a drop of 160,000. The decrease included a loss of 17,500 jobs in auto manufacturing and parts industries.

The manufacturing slump that began more than a year ago may intensify should General Motors Corp. be forced into bankruptcy, economists said. As many as 1 million additional auto-industry jobs may be lost and unemployment would climb to 11 percent, said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities in New York.

Auto Slump

The auto slump has already rippled through the industry. Johnson Controls, a maker of car interiors and batteries, said last month it will shut 10 factories and cut about 4,000 jobs. Dana, the truck-axle manufacturer that exited bankruptcy in 2008, said it will boost its payroll reduction to 5,800 this year, 800 more than previously announced.

“We are taking the difficult actions necessary to survive,” Dana’s Chief Executive Officer John Devine said in a March 16 statement.

Service industries, which include banks, insurance companies, restaurants and retailers, cut 358,000 workers after a 366,000 decline in February. Financial firms cut payrolls by 43,000, after a 44,000 decrease the prior month. Retail payrolls decreased by 47,800 after a 50,800 drop.

The ISM’s services index, which covers almost 90 percent of the economy, fell to 40.8, the lowest level of the year, from 41.6 the prior month, according to the Tempe, Arizona-based group. Readings below 50 signal contraction.

The measure was projected to increase to 42, according to the median forecast in a Bloomberg News survey of 67 economists. Estimates ranged from 38 to 45.

Fewer Orders

The ISM index of new orders fell to 38.8 from 40.7 the prior month, and its gauge of employment dropped to 32.3 from 37.3.

For many Americans, this employment slump has been an unfamiliar experience. Sarah Opple, 42, was fired in February from a sales position at Gaylord Hotels in Chicago after holding a series of jobs in the hospitality industry since she was 17 years old. “It’s more real to me now,” she said in a March 26 interview. “This recession is way more tangible than the others. It makes everyone feel they could be next.”

Since taking office Jan. 20, Obama has enacted a series of measures aimed at stemming the recession. He signed into law a $787 billion stimulus plan on Feb. 17 that included spending on infrastructure projects to boost hiring.

The Treasury Department is also moving to repair the damaged financial system and lower record foreclosures, while the Fed is flooding markets with cash to boost borrowing and spending.

To contact the reporter on this story: Bob Willis in Washington at bwillis@bloomberg.net

GUN CONTROL: a matter of trust

crazycajun — Fri, 09 Jan 2009 16:48:13 GMT

why doesn't the left TRUST the citizens?

why does the left try to convince people that not being armed will make you SAFER?

if being disarmed will make you safer, why is the murder rate highest where gun laws are strictest?

why is there never a cop around when you need one, but always one around when you don't?

i'm interested to hear the opinions of the leftists here, they provide so much humor to the day.

why should we believe what the left says?

crazycajun — Wed, 28 Jan 2009 17:38:30 GMT

those on the left say that 'more government' is the answer to our problems.

our governor has increased the amount of government in michigan steadily, increasing intrusion, increasing taxes, and increasing obstruction to businesses.

now we are asked to believe that throwing money at our economy, paying particular attention to leftist projects, is going to stimulate our economy.

these things haven't worked yet. history tells us that, IF you take the time to really look at it, and NOT take the word of those on the left.

so, please tell us why we should believe that our governor, who has done nothing for almost two terms will get on the stick and raise us out of this mess in the next few months?

please tell us how the failure to accomplish the job up till now should be giving us ANY confidence that the job will be done in a relative heartbeat?

What is Democratic Socialism ??

TrueBlue — Thu, 29 Jan 2009 12:23:27 GMT

Just in case anyone is interested.

Click here for Questions and Answers about Democratic Socialism.

The main DSA website. Click here

Why Should Citizens Allow Our Elected Officials To Play the Politrix Game?

MrRights2BHeard — Fri, 06 Feb 2009 18:39:44 GMT

Right from the beginning I must explain to everyone what Politrixs is, and how the general public is being played by their own elected officials. I am the Vice Chairperson of a Citizens group called Citizens Against Corrupted Politicians, and we are against how people who we have elected into a government office position have turned on us, and we do believe in our constitutional rights " For the people, By the people, and With the people ", meaning we are the government lets take back our Government. Both politicial parties have losted focus on their primary purpose, including the citizens who have losted interest in our Government operations. I am also a Independent/Grassroot political party member that do believe that we should return back to our basic government operations. I am sure that a bunch of you was caught up in the Obama/McCain campaign this past election. I am also sure that many of you was mud throwers for your party, and I thought that it was insane how everyone was biting at each other to prove their point. Here is a deep inside look at how the game of Politrixs is working. Ask yourself why can't my state legislative bodies (Senation & House) seem to have their own personal agenda. Here in Michigan our legislation should have passed a bill banned cellphone use while driving on our Streets, Freeways, and Highways. No that's to much like right for many of them, due to the fact that most law makers are on their cellphones while driving, and just as soon as one of their family members are killed in a automobile accident that was caused by a drive who was on a cellphone they will push things to make it a law (That's Politrixs). Its time to wakeup by starting recalls and impeachnents.

Vouchers- Another Republican Scam.

TrueBlue — Sun, 04 Jan 2009 22:07:09 GMT

The republican school voucher system is a scam and only an indirect tax cut for the rich !!

HERES how it works.............

The rich guys kid is ALREADY in private school ...... so......he gets a VOUCHER.

The regular working guy CANT afford to pay $10,000 for private school for each of his kids, he CANT write a check !!!
And so will not be able to use his "Voucher".

So at the end of the year, the rich guy gets to use his "VOUCHER" and he gets all the money he spent on private school reimbursed to him.

BUT where is it "reimbursed" from ?? The public school.

SO the regular guys kid is STUCK at the public school BUT now its even worse cuz they have even LESS money for the the public school system.

Wealth Redistribution Republican style !