Was Reagan Earned Income Tax Credit Marxist?

Are you getting stressed by these elections proceedings? It is one thing to be competitive and to want to win but it's another to be so dishonest as to start throwing all kinds of labels on your opponent. McCain-Palin is trying to make taxes the political football and they are playing on people's ignorance (lack of knowledge) to score political points.

McCain-Palin tried the paling around with terrorists but that didn't seem to have the desired effect. There is talk about everything except the problems we now face - record unemployment (750,000 lost jobs since January 2008), foreclosures, sub-prime mortgage crisis, public education, medicare, insurance premiums, college tuition and lack of leadership.

Now Obama is a Marxist, socialist because supposedly he wants to spread the wealth around. Wasn't it Ronald Reagan that implemented a tax policy that gave the working poor money back on their taxes? Wasn't this money taken from higher income earning Americans so that those at a lower income bracket could be given a piece of the American pie?

This was Reagan's trickle down economics, the Earned Income Tax Credit. Under Reagan and now Bush, the wealth has been re-distributed upwards towards the top 1% of the population. Does Palin-McCain have a label for this too? Here's one Robin Hood economic strategy or Cops and Robbers.

The Income Tax Act was enacted in 1862 and saw the establishment of the office of Commissioner of Internal Revenue. Now known as the IRS, it was the body that administered the collection of taxes, power to assess, levy and enforce the tax laws through prosecution and property and income seizures.

The Income Tax Act was established to support the Civil War and was based on the basic principles of graduated or progressive taxation and withholding income tax at source. At the time of the Civil War, a person whose income was between $600 to $10,000 per year paid an income tax rate of 3%. Those with incomes higher than $10,000 paid a larger rate.

As far back as 1913, the 16th Amendment to the Constitution made income tax a permanent feature of the U.S. tax system. This amendment gave Congress full legal authority to tax incomes of both individuals and corporations. What's more socialist than the State bailout of Wall Street to the tune of $750B, except that it is necessary to avoid a complete collapse of the entire banking system around the world?

With this legislation in place, there was a huge rise in annual internal revenue collections in the fiscal year 1918 which reached the billion-dollar threshold. By 1920, tax revenues had risen to well over $5.4 billion and by World War II with increased employment tax collections continued to rise even higher.

For McCain to grandstand on political platforms talking about spreading the wealth around is dishonest, deceitful or disingenuous because his tax plan is structured similar to Obama's Tax Plan, except who gets the tax breaks - examine the two proposals for yourself here.

McCain-Palin Double Talk Express

After watching an excerpt of Sarah Palin's speech today (October 12th) in St. Clairsville, Ohio, it prompted this straight talk to show that Palin-McCain are definitely not country first but politics first.

Sarah Palin said that her opponent wants to change things and go forward but Obama spends an awful lot of time looking at the past Bush-McCain last eight years because this is where you find blame.

Here's a relevant question for Sarah Palin - why is she looking back on abortion? Haven't we closed that chapter in women's lives? Is she looking back on abortion so that she too can find blame? Or is that she's looking to take our nation of progressive women backwards?

She said that McCain-Palin will balance the budget in their first term in office. In her own words, this is how they will do this:

Impose a spending freeze in all but the most vital functions except military spending, they wouldn't stop spending on our troops because they have to come home with a victory.

McCain-Palin will only spend on job training because they have to put America back to work. Does she know that there are about 756,000 of us currently unemployed? Or does she see this like some who say that 94% of us have jobs?

Palin-McCain will bring tax relief to every American.

This sounds very good as a stump speech but let's examine the reality of this so-called team of straight talk express mavericks that are traveling on the Double Talk Express.

How are you going to balance a budget by giving tax relief to every American? Tax relief to every American means that as government, you are reducing the amount of money you are collecting. Literally, can you balance your budget if you are earning less money? Does she think that you are stupid? What is this double talk?

This is obviously in response to Obama's Tax Cuts for everyone, EXCEPT those that earn over $250,000 so McCain-Palin jumps to their defense by trying to fool us the middle-class folks that earn $40,000 and up to $250,000.

They will freeze all spending except for the soldiers in the war because they have to come home with victory. We are spending $10B each month on the war in Araq. When does Palin-McCain expect this victory? When do they plan to come home with this victory?

This is a stubborn and bone-headed attitude. Let the Iraqis spend their $80B surplus looking after themselves. Prepare a responsible way to withdraw our troops and rather than a spending freeze in these hard times, invest the money we are currently spending in Iraq here at home on ourselves.

It took Bush-McCain eight years to rack up the current debt but Palin-McCain will (bring down) balance the debt in their first term i.e. four years. What a team of mavericks? Do you see how much more hardship this will create? This is like if you bought a home for $250,000 with a fixed mortgage term of 20-years at 5% interest and a manageable monthly payment. Then you receive notice that there's been an adjustment, your mortgage has to be paid back in 10-years so your payment has now quadrupled. What would this do to your life and budget?

In simple terms, this is what Palin-McCain is suggesting about balancing the government budget and reducing the debt. More ludicrous is that Palin-McCain said they will impose a spending freeze but yet they plan to buy back all the bad mortgages at their old values 2-3 years ago, not even the current values. Who are they buying these mortgages back from - the banks?

Who are they helping once again - the rich and privilege? Do you not get it, the mavericks for the rich? Did the $700B bailout not have a plan for these failed mortgages added to it already? I guess McCain doesn't like who that buy-back plan is helping. These mavericks take from the poor and give to the rich so you decide.

As Governor, Palin eliminated property taxes - true but what she has not told you is that she raised the sales taxes at the same time that she did that. Give in one hand and take more in the other hand. Let's examine Sarah Palin's maverick for the people at work. A property tax is an annual tax (once per year). You could set up a tax jar and drop all your loose change and plan to accumulate that tax.

A sales tax you pay every time you make a purchase all year round for all time, no way to avoid it so in the end you continually pay much more than you would have paid in property tax. Do you get it? Don't be fooled again - it's the old bait and switch game - these are no mavericks.

McCain Erratic Behavior no Maverick

John McCain isn't a maverick and Rolling Stone contributing editor, Tim Dickinson separates the facts from the fiction on the Republican presidential candidate.

The John McCain that Tim Dickinson revealed in his article in Rolling Stone gives a closer look at a life and career of recklessness and dishonesty. The real elitist, McCain attended Episcopal High School, an all-white, all-boys boarding school across the Potomac in Virginia, where tuition today tops $40,000 a year.

In March 2008 McCain told The Wall Street Journal that he is "always for less regulation" but by September with the Bush government forced to bail out the nation's biggest insurance firm and brokerage house, McCain said that he would regulate the financial industry and end the "casino culture on Wall Street".

McCain's flip-flopping is the commitment he's taking to advance his own career by whatever means necessary and always reach for attention and glory by stretching the truth or outright deception.

Smith one of McCain's GOP colleagues has gone on record of saying that he's temperamentally unsuited to be commander-in-chief. The former senator from New Hampshire said that McCain's "temper would place this country at risk in international affairs and the world perhaps in danger. In my mind, it should disqualify him". Senator, Thad Cochran of Mississippi said that "the thought of his being President sends a cold chill down my spine. He is erratic and he's hotheaded".

You can read Tim Dickinson's ten page article at Rolling Stone for yourself and see why McCain's 11th-hour theatrics in September to abruptly suspend his campaign and run to Pennsylvania Avenue to help with the bailout debate at the last minute is no coincidence. It is so much like the reckless character that he's so famously known by his GOP colleagues.

Bush-McCain OwnYour 8-Year ShitPile no Exception

The Democrats are going to be eaten not by the Barracuda but the Great White Sharks, the House Republicans. Great political move by Bush-McCain-Palin team - why is it so you may ask? The Senate became Democratic only 2-years ago. Prior to this, Senate Republicans were in charge for 6-years.

In the eyes of the Republicans and anyone who's knows how to play the game of politics, it would be unwise to allow the people to re-elect a majority Democratic Senate or Congress. This would theoretically be advantageous for an Obama Administration in light of all his talk about changing the way things are done in Washington D.C.

McCain-Bush have somehow managed to inject enough politics into the $700B bailout negotiations to have it spun that the Democrats are the ones that are siding with Bush in handing over the people's money to Wall Street. It is hoped that the ordinary people would miss the politics and focus on the antics of McCain-Bush-Palin.

There are now those who are trying to spin this whole mortgage meltdown to as far back as the Clinton-administration in '90s. There's a New York article that’s been floating around saying that Clinton was putting pressure on Fanny Mae to lend money to poorer and middle-classed Americans so they could own houses.

Everybody in the press rushed to help perpetuate this without asking why did George Bush not steer the ship in another direction if he could see the iceberg ahead? Why did he ram his ship straight into it and start taking on water before he accepted that he was negligent in not avoiding the danger ahead?

To say that somehow Clinton started this is preposterous. Clinton left George Bush a huge surplus, prosperity in high employment and a thriving business environment. What happened in the last 8-years? Are you better off today than you were 8-years ago? That's the bottom line and under whose watch. The Bush-McCain republicans are in charge now and even after injecting $400B into the economy, it is still on a free-fall.

Where's the proof that injecting $700B bailout without specific instructions as to who, where, what, why and when will stem this free-fall, curtail the bankruptcies and not just create inflationary pressure on the economy?

Sub-Prime Mortgage Meltdown - Lives Ruined Equity Lost

Today, George W. Bush holds the shot gun to our heads and mocks: “There will be ample opportunity to debate the origins of this problem" as he demands that Congress acts fast as he rewards the banks that implemented the dynamics of his "Ownership Society”.

Watch this video on youtube and pay special attention to the "Bush 2004 Campaign Ad - Ownership" and see how we got to this point. While you are watching look at "McCain has flip flopped on every issue" and "McCain's Contradictions and..." to see why he's no different to George W. Bush but a carbon copy.

Email, write, phone your Congressman and tell them that "You do not Approve George Bush Pork Barrel Action plan" to use your money to give his cronies a hefty handshake. Don't let these people read and spell for you, think America, this is serious. If a C-average student and another one that was 894 out of 899 in his class can understand it, so can you - use your common sense.

This CNN investigative video clearly shows how the sub-prime mortgage meltdown played out in the real world and impacted on real people lives.



People's lives are in distress and their homes are auctioned on the court house steps of Atlanta. Sub-prime loans were given to people to buy homes without full disclosure that these adjustable-rate mortgages would reset at much higher interest rates.

These sub-prime loans start out with very affordable fixed-rate terms for two or three years. At the renewable dates, rates suddenly jumped by 3-percentage points or more and then re-adjusted in six months to a year at even higher rates. For example, a $200,000 mortgage would reset and add nearly $400 to these poor people's mortgage payment.

These people were doomed from the start but where is their bail-out package? If these are the people responsible for sinking homeowners into despair, why are we now helping them so they can start over?