The Coming Tax Psunami Talked on ATS

Treasury Secretary Timothy Geithner discusses the state of the economy. Pay attention as word lst of January is mentioned which in my humble opinion means January of 2011.

Source

Oh don't worry, they will raise taxes and cut benefits that is a guarantee. There is no money for all these programs and such that has been promised and people like you and me have paid for.

Dont have to wait till the first of January, this year alone in my city the sales tax has gone up 2%. All to pay for road projects they think we need even though we dont get to vote for the increases.

P.S. its spelled tsunami

Most have no clue what is coming in the way of taxes but they soon will

realize what has taken place when they look at their pay check and ask

their employer is this a mistake. ^Y^

Speaking of tsunami have you seen the number of ads that came out today on places like ATS on Topix in favor is extending the Bush Tax cuts for the very wealthy? OMG! Those millionaires and billionaires are going to drown you in those lies and distortions about trickle down economics and they've got the money to absolutely deluge all your favorite sites to do it. I'm not even going to name the major group responsible for this tsunami, but if you hang out on sites that cater to the right wing or any site discussing taxes you'll be awash in these ads and petitions. Keep your eyes open and follow the money.

In the beginning he states with people going back to work the unemployment numbers will go up.

Yeah, I remember going over that in college, it was called lying in business ethics.

Actual unemployment rates now, 16-22%. I am one not covered in the statistics.

One question not raised by many yet, with the way the economy turned out, what actually would have happened if we would not have bailed out the government's corporate partners (whores)? All I know is that when you protect unproductive components of an economy, you continue the unproductive practices. Just as an example, a vehicle sold by GM comes with a $2500 attachment for pension benefits to retired workers.

I think the next bubble is going to be public worker's pensions. Just look at the city of Bell as an example. Heck, the pension that manager is getting is like 600k for retirement.

We could fix this debt and banking thing in 5 minutes. Full Reserve Banking and Non-Interest Loans would kill the conspiracy and make every country rich and prosperous.

1. end the FED
2. end the FHA, HUD amortized loan which collects interest up front and is huge driver of inflation. You only gain equity on your home if the price goes up.
3. allow US Treasury to create 100% of money based on gold and silver standard.
4. Switch to Full Reserve Banking which prevents FED member Banks from creating 90% of money as they do know. (money multiplier and fractional reserve).
5. all local and state banks to borrow from the US treasury based on proof of ability to repay.
6. Collect fee on 100% money created and not just 10% as we do now
7. The demand for cash due to full reserve requirements creates huge demand for cash and creates demand for dollar
8. create 14 trillion dollars and pay off everyone we owe all at once.
9. balance the budget with the new money revenues coming in from collecting a fee on 100% of the money supply and not just a fraction and not having to pay interest on debt.
10. use anti-trust laws to dismantal all banking institutions too big to fail and too complex to be transparent.
11. banks issue home loans interest free, but collect a fee to cover administrative costs. Buyer and bank purchase home together. Buyer brings 10% down and fees. Buyer builds equity immediately with each payment. Local bank collects admin fee with each payment until Buyer becomes 100% owner of property. Missed payments are subtracted from the equity of the home and result in profit for the banks. Appreciation or depreciation of property affect buyer only. Bank repos house only when buyer misses enough monthly payments that he has lost all ownership and equity in the property.