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The Other 95% Thanks Obama For All The Taxes!

The Other 95% Thanks Obama For All The Taxes!

http://www.youtube.com/watch?v=E5R-RscWHSc

 

“The Other 95%” Group Crashes Tea Party

http://www.youtube.com/watch?v=CsyIQNJlyy0

 

Networks Fail to Report on VAT Tax Since Volcker Call for Tax Increases

Business & Media Institute
April 15, 2010

As procrastinators rush to beat the April 15 tax deadline and thousands rally at Tea Parties to oppose out of control government spending, politicians and the national news media are mulling the possibility of a new European-style national sales tax.

On April 6, former Federal Reserve chairman and current White House economic adviser Paul Volcker revealed the Obama administration’s possible strategy to tame massive deficits with a value-added tax (VAT).

“Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax ‘was not as toxic an idea’ as it has been in the past and also said a carbon or other energy-related tax may become necessary,” Reuters reported.

“If at the end of the day we need to raise taxes, we should raise taxes,” Volcker added that day. In Europe, VAT taxes range from about 16 percent to 25 percent with an average of roughly 20 percent, according to Olivier Garret of Casey Research. Garrett, who grew up in France, called the VAT “a license to steal without people knowing it.”

A VAT is a consumption tax “levied along stages of production,” according to the Wall Street Journal. In contrast to Garret, Fortune called it an “extremely efficient, virtually fraud-free way to collect money.” But it is also a regressive tax that hits the poor and middle-class and would contradict Obama’s pledge to protect taxpayers.

Despite the huge news that the White House was leaving the door open to additional taxes that would hit the poor and middle class especially hard, the three broadcast networks haven’t mentioned a VAT tax at all since Volcker’s speech. In the previous three months, only NBC’s “The Chris Matthews Show” has even brought up the issue.

In contrast to the networks’ silence, Fox News Channel and Fox Business Network have brought up the VAT in more than a dozen programs since Volcker’s speech. But some print and online news media, including Reuter’s columnist Christopher Swann and Fortune’s Shawn Tully, actually promoted the idea of a VAT.

On Feb. 10, Tully wrote, “America is hurtling towards a fiscal trap that is forcing us into the only option we’ll have to restore budgetary sanity: A Value-Added Tax.”

CNN.com also supported VAT on April 13 suggesting the U.S. “can learn from New Zealand when it comes to taxes.” The article cited New Zealand as the “best” example of a VAT.

“So who does it best? Tax experts and economists point to New Zealand, where a 12.5 percent goods and services tax applies uniformly to nearly everything with very limited exceptions – only rent paid for a private home, charitable contributions and interest earned are exempted. (The government offers clear details, too, on its website.),” wrote CNN’s Dody Tsiantar.

But according to Dan Mitchell, a CATO Institute senior fellow and Business & Media Institute adviser, a value-added tax would be “an economy-killer.”

“Don’t get me wrong: The VAT – on top of all the other taxes Washington imposes – is a terrible idea. Imposing it would pretty well finish the transformation of our country into a European-style slow-growth nation. The right way to close Uncle Sam’s gaping deficits is to reverse the continued explosion of federal spending,” Mitchell wrote in a New York Post op-ed.

Mitchell explained that a VAT has the “virtues” of simplicity and less economic distortion, but ONLY if it were to replace the Internal Revenue code. That, however, is not what Volcker or Sen. Kent Conrad and House Speaker Nancy Pelosi have suggested.

In Mitchell’s opinion, the end result would be a huge expansion of government, rather than deficit reduction.

Liberals Predict, Promote VAT Tax

Especially after Volcker’s comments, the mainstream media should have been examining value-added taxes, talking to tax experts and publicizing the fact that this sort of a tax would be yet another violation of Obama’s pledge to protect the middle-class from tax increases. But they weren’t.

In the past three months, a value-added tax has only been mentioned on one network program: NBC’s weekend talk show “The Chris Matthews Show.”

Matthews casually mentioned the options for reducing deficits on his April 4 program, saying, “You know, cutting deficits comes down to two decisions: you’ve got to raise taxes somewhere with a value-added tax or something, or you’re going to cut benefits. Neither one are pleasant for politicians.”

Guest David Ignatius of The Washington Post joined the discussion predicting that Obama would “build a case for a value-added tax, which gets us out of the – out of this mess.”

The tax was mentioned on CNN during a special called “I.O.U.S.A. Solutions” April 11. That special hosted by Christine Romans aired video clips from the documentary and then discussed the proposals with several panelists.

Panelist Maya MacGuineas, who was in the documentary, told viewers that even with necessary spending cuts there is no way to fix the deficit without raising taxes.

Robert D. Reischauer, former director of CBO and President of the Urban Institute, claimed in the video: “We’re going to have to look at consumption taxes like a value added tax or some form of national sales tax as a mechanism for maintaining some of the benefits that we are promised through our entitlement programs.”

But in the panel discussion that followed no one pointed out the flaws of VAT or mentioned any of the harm it could do to the American economy.

On April 8, the overwhelmingly liberal cable network MSNBC mentioned the problem liberals have with a VAT.

“There is a problem. A value-added tax tends to be regressive. There are ways to deal with that – one way is to provide an income tax credit to offset the regressivity at the bottom. That might sound like a radical liberal proposal, but it’s basically the same thing the national retail sales tax or FairTax people have been proposing,” Leonard Burman of Syracuse University told Ed Schultz.

Burman was correct about the regressive nature of a value-added tax, but not about its similarity to the FairTax.

FairTax proponents would like to see the entire federal taxation system replaced with a progressive national retail sales tax. It would include a “prebate to ensure no American pays federal taxes on spending up to the poverty level.” The recent calls for a VAT have been for additional taxation, not reforming the confusing current system.

I Wanna Be Like Europe (or New Zealand)

Proponents of a VAT often lament that the U.S. is only developed nation that doesn’t have one.

That was Alice Rivlin’s argument for a VAT in the film I.O.U.S.A. Solutions. Rivlin, senior fellow for the liberal Brookings Institution, said “all the industrialized countries have a national sales tax of some sort.”

CNBC guest co-host Mark Olson, Corporate Risk Advisors co-chairman, praised the success of value-added taxes in Europe.

“A VAT makes a little bit more sense … But the value-added tax, I don’t think there’s a chance that’s gonna happen this year. But it’s gonna be something – it seems to work well in Europe.” Olson said on “Squawk Box” April 12.

In response, “Squawk Box” co-host Joe Kernen groaned that “We’re turning into, we’re turning into” Europe.

Reuters economic columnist Christopher Swann supported the creation of a VAT tax. He called it a “money machine,” and said “America is alone among rich nations in not charging a VAT, and its continued unwillingness to do so will make it harder to cope with the fiscal challenges ahead.”

Instead of suggesting we emulate Europe, CNN.com highlighted New Zealand’s example calling it the “best.”

“In New Zealand, it [VAT] contributes about 25 percent to the government’s bottom line, and the Tax Policy Center in December projected that a 5 percent VAT tax here would generate over $3 trillion in revenue by 2019. That’s not enough to cover America’s huge debt obligations, of course, but it’s a start,” CNN said.

But conservative and libertarian tax experts like Dan Mitchell oppose following in the footsteps of Europe or New Zealand and warn that such a taxation plan will lead to bigger government, more spending and make it easier to raise taxes in the future.

Mitchell explained that “real-world evidence shows that VATs are strongly linked with both higher overall tax burdens and more government spending. In 1965, before the VAT swept across Europe, the average tax burden for advanced European economies (the EU-15) was 27.7 percent of economic output, versus 24.7 percent of GDP in the United States.”

Then Europe instituted VATs (and the European Union requires its member to impose VATs of at least 15 percent) and the tax burden of EU-15 nations rose to nearly 40 percent, compared to 28 percent in the U.S. According to Mitchell, government spending rose in Europe along with the VATs: from 30.1 percent of GDP to 47.1 percent of GDP.

Another CATO expert, Chris Edwards opposes adding to the tax burden and would prefer spending cuts. “I think America has prospered because the general level of taxation has been lower than Europe,” Edwards told CBSNews.com.

But even tax experts who “loathe” the idea of a VAT think the U.S. will head in that direction. Ryan Ellis, tax policy director at Americans for Tax Reform, told CBSNews.com “I think it’s coming, in the next five to 10 years certainly.”

Obama’s “Value-Added Tax” would hurt the poor and middle-class

Bilderberg: Raise Taxes, Cut Services in U.S. and Europe

 



MSNBC’s Ratigan: The Great Bank Con Job

MSNBC’s Ratigan: The Great Bank Con Job

http://www.youtube.com/watch?v=Gwm0ESZJSRI

 

JPMorgan Instructs Homeowners To Stop Making Payments Then Takes Their Homes

Courthouse News Service
April 6, 2010

JPMorgan Chase instructed homeowners to stop making mortgage payments, as that was the only way to be considered for a loan modification, then repossessed their house when they followed the bank’s advice, a couple claims in Federal Court. “I’ve seen this happen to so many people,” their attorney said. “When they come in here to tell me their story, I can actually tell it to them.”

Faiz and Khadua Jahani sued Morgan Chase and its predecessor, Washington Mutual Bank, on their own behalf and on behalf of the public.

“When they called the 800 number, they were specifically told that as long as they were current on their mortgage they wouldn’t even be considered for a loan modification,” the couple’s attorney, Piotr Reysner, said in an interview.

In their federal complaint, the Jahanis say they contacted the bank in December 2008 “to indicate that they were having trouble paying their mortgage and would like to discuss a possible loan modification.”

The Jahanis say the bank representative told them “that they would not work with plaintiffs at all because they were currently not in breach of their loan terms. Plaintiffs were specifically advised at that time to stop making payments for a period of three months, at which time defendants would consider a loan modification. Plaintiffs were specifically informed that as long as they were current on their mortgage payments, that defendants would not consider a loan modification.

“Reasonably relying on the direction of defendants, plaintiffs stopped making their loan payments. Plaintiffs are informed and believe and thereon allege that defendants immediately reported to the various credit reporting agencies (Equifax, Experian and TransUnion) that plaintiffs were late on their mortgage payments.

“On or about June 23, 2009, defendants sent a letter to plaintiff entitled ‘Notice of Intent to Foreclose,’ indicating that plaintiffs were past due in their mortgage in the amount of $100.65 and that plaintiffs need to bring the account current within 30 days to avoid foreclosure proceedings. No Notice of Default accompanied the letter, nor was any Notice of Default ever served on plaintiffs.”

Months of correspondence between the Jahanis and Chase followed, with the Jahanis repeatedly sending Chase documents it had requested, and Chase repeatedly sending them letters claiming it had not received proper documentation and that their loan modification was “in jeopardy.”

Read Full Story Here

 

Here comes the next bubble – carbon trading

http://www.youtube.com/watch?v=7SFywA_LQuU

 

Why Americans accept getting conned into financial slavery

http://www.youtube.com/watch?v=eWqD_VOympU

 



Chris Matthews: Obama Failing to Sell Socialism

Chris Matthews: Obama Failing to Sell Socialism

http://www.youtube.com/watch?v=vHHBmigMq7c

Chris Matthews Admits Marxist Perspective

MSNBC Anchor: The Word “Socialist” is Code For The “N-Word”

 



Hired Killers in Haiti

Here we go: New Orleans 2.0
US Mercs Offer to Perform “High Threat Terminations” to Confront “Looters” in Haiti

Jeremy Scahill
globalresearch.ca
January 23, 2010

We saw this type of Iraq-style disaster profiteering in New Orleans and you can expect to see a lot more of this in Haiti over the coming days, weeks and months. Private security companies are seeing big dollar signs in Haiti thanks in no small part to the media hype about “looters.” After Katrina, the number of private security companies registered (and unregistered) multiplied overnight. Banks, wealthy individuals, the US government all hired private security. I even encountered Israeli mercenaries operating an armed check-point outside of an elite gated community in New Orleans. They worked for a company called Instinctive Shooting International. (That is not a joke).

Now, it is kicking into full gear in Haiti. As we know, the member companies of the Orwellian-named mercenary trade association, the International Peace Operations Association, are offering their services in Haiti. But look for more stories like this one:

On January 15, a Florida based company called All Pro Legal Investigations registered the URL Haiti-Security.com. It is basically a copy of the company’s existing US website but is now targeted for business in Haiti, claiming the “purpose of this site is to act as a clearinghouse for information seekers on the state of security in Haiti.”

“All Protection and Security has made a commitment to the Haitian community and will provide professional security against any threat to prosperity in Haiti,” the site proclaims. “Job sites and supply convoys will be protected against looters and vandals. Workers will be protected against gang violence and intimidation. The people of Haiti will recover, with the help of the good people from the world over.”

The company boasts that it has run “Thousands of successful missions in Iraq & Afghanistan.” As for its personnel, “Each and every member of our team is a former Law Enforcement Officer or former Military service member,” the site claims. “If Operator experience, training and qualifications matter, choose All Protection & Security for your high-threat Haiti security needs.”

Among the services offered are: “High Threat terminations,” dealing with “worker unrest,” armed guards and “Armed Cargo Escorts.” Oh, and apparently they are currently hiring.

 



Chris Matthews Admits Marxist Perspective

Chris Matthews Admits Marxist Perspective

http://www.youtube.com/watch?v=Nbwfq6-RTbQ

 



Bernanke Named Time Magazine Man Of The Year

Financial Crisis Perpetrator Bernanke Hailed As World’s Saviour By TIME

The real person of the year, Ron Paul, puts the record straight

Steve Watson
Prisonplanet.com
December 16, 2009

Federal Reserve chairman Ben Bernanke has been named TIME person of the year for 2009 and hailed as a saviour when in the real world he has overseen the worsening of the financial crisis, the looting of the American economy by foreign offshore banks and the destruction of the Dollar.

In a world where those vastly escalating war are awarded the Nobel Peace Prize, it makes perfect sense to award the Federal Reserve chairman with person of the year.

“His creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression, and he still wields unrivaled power over our money, our jobs, our savings and our national future.” writes TIME.

The magazine also bizarrely states that Bernanke launched “a groundbreaking public relations campaign to demystify the Fed”, despite the fact that the chairman has consistently lobbied Congress for protection of the Fed’s “independence” (read secrecy), while categorically refusing to answer questions regarding the Fed’s decision making.

Bernanke has overseen the handing over of trillions of dollars to foreign banks and has defied lawsuits to keep secret the destination of the money from the American people.

The timing of the announcement couldn’t be more perfect. As NBC’s Matt Laur pointed out, Bernanke can go to Capitol Hill tomorrow, hold up TIME magazine and ask to be reappointed as Fed chairman.

Of course, if TIME’s person of the year award was really judged on toil in the best interests of the American people, the clear winner would be Congressman Ron Paul, who has railed against the Fed and Bernanke with great success this year.

Paul’s tireless effort to wrestle power away from the Federal Reserve and put it back into the hands of the American people has seen a major victory with the progression of legislation slated to audit the Fed and put it’s activities under public scrutiny.

Paul has consistently exposed how the Fed has delivered the financial crisis to America and the world via excessive spending, debt expansion and monetary inflation.

Instead TIME’s article on Bernanke refers to Ron Paul in the context of “Bleeding-heart liberals and tea-party reactionaries”.

Paul gave his opinion on the announcement regarding Bernanke on MSNBC’s Morning Joe earlier today, commenting:

“He is the most powerful man in the world, I believe a case can be made for that.”

“Because he controls the supply of money, the Dollar which is the reserve currency of the world. He can create a trillion dollars in secret without any monitoring of the Congress. So there is no transparency and I think he is more powerful than the president.” the Congressman added.

“The big question is, has he used that power for good or for evil? And of course, my side of the argument is that the system is evil, and the chairman, whether it’s Greenspan or Bernanke, they can do no good.”

“They cause our troubles, they cause inflation, they cause the bubbles, and therefore the bust, the correction is always their fault.” Paul stated.

Watch the full interview below:

http://www.youtube.com/watch?v=ZcQmeqHF-EM

 



The War is in Pakistan Right Now

Scahill: ‘The war is in Pakistan right now’
Military drones show no remorse on Pakistan civilians, creating U.S. hatred

Raw Story
December 4, 2009

In the wake of President Obama’s plan to increase the number of US troops in Afghanistan, questions are being raised about the use of private contractors in US operations there. The acknowledgement by Eric Prince, founder of military contractor Blackwater, that he has been serving for years as a CIA asset only intensifies these concerns.

For Jeremy Scahill, author of the bestselling book Blackwater, however, the real concern is not Afghanistan but Pakistan, where according to an article in the New York Times, “the White House has authorized an expansion of the C.I.A.’s drone program.”

“We need to view this sober reality,” Scahill told MSNBC’s Rachel Maddow on Thursday. “The war is in Pakistan right now. There’s no question about it. The question, though, is how much it’s going to expand. … These are actions that are going to destabilize Pakistan and are going to create new enemies for the United States because of the high civilian casualties. … Here you have military operations inside a country that we don’t have a declaration of war against.”

Scahill emphasized that the most destabilizing actions come not from the CIA but from Blackwater mercenaries, whom he recently described in The Nation as working for US special forces to “plan targeted assassinations of suspected Taliban and Al Qaeda operatives, ‘snatch and grabs’ of high-value targets and other sensitive action inside and outside Pakistan.”

The drone attacks outsourced to Blackwater are the source of the highest numbers of civilian casualties. Scahill told Maddow that one of his sources is a “very well-placed military intelligence source [who] is offended at the idea that you have these operations happening outside of the military chain of command and with no oversight from the Congress.”

“Blackwater has been operating under the cover of a training program,” Scahill explained. “Blackwater is training the Pakistani Frontier Corps, which is a federal paramilitary force that is hunting down high-value targets in the frontier province. A former Blackwater executive told me that the line is being crossed — that Blackwater guys are actually going out on these raids.”

Scahill also revealed a few interesting tidbits about Eric Prince’s decision to out himself as a CIA asset, saying, “I see this sort of as Eric Prince taking out an insurance policy for himself. … Eric Prince is in the cross-hairs now of the Congress, the federal investigators, and others … and it’s a way of trying to insulate himself from future attacks.”

This video is from MSNBC’s The Rachel Maddow Show, broadcast Dec. 3, 2009.

http://www.youtube.com/watch?v=8COSFrTB1Uk
Rachel Maddow: Obama is Continuing The Bush Doctrine