For your reading enjoyment.
Backup copy here.
Now, I can’t wait for the longer version to come out (this was just a synopsis).
Submitted without any further comment.
Hillary's Plan to Loot Your 401k Account
International Business Times and Yahoo Finance just posted headline stories on the plan created by Hillary’s Wall Street masters to loot your future retirement savings. Today’s voluntary 401k savings plans will be replaced by mandatory retirement taxes on all private sector workers – and their employers – which would be turned over to Wall Street hedge funds for investment:
Hillary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration
By David Sirota and Avi Asher-Schapiro, IBT, 10/19/16 at 12:50 AM
While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.
It is a plan that proponents say could help millions of Americans — but could also enrich another constituency: the hedge fund and private equity industries that Blackstone dominates and that have donated millions to support Clinton’s presidential bid.
The proposal would require workers and employers to put a percentage of payroll into individual retirement accounts “to be invested well in pooled plans run by professional investment managers,” as James put it. In other words, individual voluntary 401(k)s would be replaced by a single national system, and much of the mandated savings would flow to Wall Street, where companies like Blackstone could earn big fees off the assets. And because of a gap in federal anti-corruption rules, there would be little to prevent the biggest investment contracts from being awarded to the biggest presidential campaign donors.
Why No Criticism of GM, Chrysler, and the UAW? They Got a Much Sweeter Tax Loss Deal from the Democrats.
A Saturday story in the New York Times alleges that Republican Presidential nominee Donald J. Trump may have avoided paying income taxes for 18 years due to a $ 915 million net operating loss declared on his 1995 federal tax return. A net operating loss is a form of tax loss carry forward which can be used by a taxpayer to offset future (and sometimes past) income taxes due the federal government. The authors claim that someone anonymously mailed them pages from Trump’s 1995 return. A felony violation of federal law which the New York Times only participates in when its enemies are the victims. Given recent history, it is far more likely that some snake in Obama’s IRS mailed the pages to the New York Times. One more reason to impeach IRS Commissioner John Koskinen.
None of this is news. Trump admitted to the size of his 1990’s loss in his book Art of the Comeback. More interestingly, he explains how the Tax Reform Act of 1986 (TRA 1986) crushed the real estate market in New York and created his massive loss. Note that he mistakenly attributes his predicament to TEFRA, a 1982 act which also caused him some problems, but it was actually TRA 1986 which he is referring to.
Tax loss carry forwards date back to at least 1954 in the U.S. tax code. The logic behind them is simple: if the government benefits from an entity’s income, it should share that same entity’s misfortune when it runs losses. Both moral and ethical, two concepts not usually associated with the U.S. tax code. The salacious case being made against Trump has no merit, except as propaganda. Remember, Trump had to lose $ 915 million on long term assets to get the tax loss carry forward. More importantly, Trump’s massive loss was created by a sea change in the rules of the game dictated by the same federal government.
The man who single-highhandedly gave us eight years of a Clinton presidency, now wants to give us (potentially) eight more.
Liars Lie. Milliken was never a true Republican anyhow.
Queue the ‘Republican’ governor endorsing the Democrat ..again. ZZZZZZZ
From the Ivory tower:
Current and former governors of Michigan are either working for the Democratic candidate for president, Hillary Clinton, or have declined to endorse Trump in the race for the White House.
Former Gov. William Milliken, a moderate Republican from Traverse City, broke ranks over the weekend and is endorsing Clinton for the presidency.
Oh my, this has never happened before!
Well, maybe once before.
No. its not.
They have achieved the goals of their epic struggle against tradition, rule of law, and flat out decency and morals. It is NOT what a Democracy looks like. This is what a Banana Republic looks like:
FBI Director James Comey has announced that Hillary Clinton acted ‘carelessly’ but committed no crimes with regards to her private e-mail server through which she conducted official government business. Further, he announced there would be no charges filed whatsoever. This is despite numerous criminal offenses being already known by the general public through a plethora of FOIA. Officially, there is no longer any rule of law in this country.
Read the rest.
Just to be clear.
A while back this site left the rah-rah part of the neighborhood.
Rightmi.com stopped being the default cheerleader for the Michigan GOP as a matter of principle. Particularly since the primary part of the MiGOP has all but abandoned its tenets and reason to exist. What exists now is a shell of pseudo conservatism, and a mockery of the platform under which the party pretends to exist. Arguably, we still prefer the Republicans who run on conservative platforms but the party mechanism makes it tougher to sort them out.
There is some seriously spoiled fruit in the party. Snyder is no ‘Republican,’ yet his ‘purchasing’ of, and carrying the flag as one, is enough to fool the soft stupid on both sides of the aisle. The machinery in place to keep Republicans in majority has corrupted the ability to recruit and retain true conservative leadership as well. Ronna Romney does her part to keep those crazy doctrinaire Republicans in check using party money and resources.
In fact, its one of the reasons I am changing my phone service to a different carrier. It allows me to block solicitations for the MiGOP, and these calls usually come from outside the state anyhow.
Having said all that, I still believe today’s loyalist Democrats are the bane of intellectual development. Even more so than the blind loyalist Republicans who still support bad apples no matter what.. Flint, Detroit, etc.. The inability to look at the results of generational liberal rule and deduce the higher incompetency rate is beyond mind blowing.
Flint Water Quality is Now a Presidential Campaign Issue
Governor Snyder’s many attempts to deflect responsibility and and tamp down adverse media coverage of the Flint water situation are failing miserably. Snyder cannot make a public appearance without getting peppered with antagonistic questions about the circumstances behind the Flint water sourcing change.
National International media are now all over this story, and their coverage is ugly. Democrats are having a field day promoting the ‘uncaring Republican’ meme. This story is going to really hurt the Republican Party’s 2016 Presidential nominee unless it is spiked quickly. Hillary Clinton is already using it.
Snyder’s ineptitude at handling the Flint situation, plunging from a deep hole into the abyss, also creates great risks for taxpayers across Michigan. We have already pointed out that skilled, predatory legal vultures are circling the Michigan Treasury. The torrent of adverse publicity will predispose any jury they impanel to hammer the State of Michigan financially. Now a variety of self-interested parties within and without Flint are proposing an avalanche of new, State-paid goodies for the citizens of Flint. These acts of contrition will be paid for by Michigan taxpayers who played no role in the Flint water situation and will not receive any benefit from a lavish expenditure of their hard earned dollars.
Snyder’s political career is over, but he will enjoy his remaining days living in well earned obscurity akin to his mentor Bill Milliken. You can safely bet that our accountant-in-chief will use his single real world skill to avoid paying the penance for his decisions. Michigan taxpayers, Republicans, and conservatives will take the big hit here.