http://hotair.com/archives/2008/09/23/biden-on-fdrs-management-of-the-1929-crash/

Obviously, a couple of problems. FDR wasn’t the president in 29, and television wasn’t evented yet.

There’s a lot of BS and bologna arguments as to why the Federal income tax is true a la tinfoil hat groups & sea lawyers, but there are a few valid arguments which, in any case, are enitirely moot since the amendment added to the US Constitution to create the Federal income tax in the first place was never ratified! Take a few moments to check: only a handful of states signed on, not the plurality an amendment to the Constitution requires.

The courts have acknowledged this fact, but have essentially said, “Yeah, it’s not legal but since so much time has passed, we’re enforcing as if it was the law and therefore it IS the law.” (I don’t remember the Latin legal phrase.)

Interestingly enough, that very same argument was used regarding the personhood status of corporations. This “law” is based on a case summary written by a court clerk (who was a former railroad lobbyist) in the case of Santa Clara County vs. Southern Pacific Railroad (1886) and has subsequently stretched and abused the 14th amendment for the benefit of our corporate masters rather than for former slaves at a rate of 9:1, meaning

“Of the 150 cases involving the Fourteenth Amendment heard by the Supreme Court up to the Plessy v. Ferguson case in 1896 that established the legal standing of ’separate but equal,’ 15 involved blacks and 135 involved business entities.”

Class dismissed.

(quote from Doug Hammerstrom, reclaimdemocracy.org/personhood/fourteenth_amendment_hammerstrom.pdf)

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

Why should the American people pay interest to a private corporation to “borrow” OUR OWN CURRENCY? There is no way to ever, ever pay off that debt since you are in debt from the first dollar onwards.

It is better these banks go under and we rebuild from the ashes than to enslave our future generations to the government. Right now most of us pay a third to half of our income out in some sort of tax but mostly income tax. What percentage will the government demand in the future with this bill coming home to roost? 2/3rds? Don’t laugh. Prior to Reagan the top 1% of earners in this country paid taxes as high as 75% on their income. That tax level is now 15% as most people in that bracket don’t earn salaries, they make “capital gains” – formerly and more accurately known as “unearned income.” Those who do earn incomes from work at this level still only pay a measly third out if they have very bad tax accountants and financial planners. With good ones they pay nothing to almost nothing. Slowly, but surely, the wealthy have been pushing the tax burden down the economic ladder and in this one fell swoop, will ensure that it will happen sooner and to a much larger degree.

Oh,and by the by, the amendment to the Constitution that allwoed the government to tax income for the first tim ein history (16th Amendment – 1913)was sold to the public on the idea that only the top 5% of earners would be paying it. The tax code had five brackets, the low end of income taxed began at $100,000 at 1% up to the highest bracket of $500,000 or more at 5%. In 1913! Translated to today that would mean only a percentage of the top 1% would be paying any taxes at all – maybe we should hold Congress to their original promise.

Anything, anything at all is better than this idea.

A few points on that though:

1) We are seeing a new progressive element in legislature develop right before our eyes. Look at Kucinich, Dodd, Feingold, and a host of other newer faces that don’t have much notoriety. Look for even more new progressive faces after this coming election. I believe the whole dem/repub paradigm is shifting.

2) To just lump dems in with repubs as being part of the problems we are facing now, in terms of the financial crisis, is to ignore the fact that the policies responsible for this melt-down were ram-rodded down the throat of Americans and Congress by a Republican majority of all branches of government from 2000 to 2006.

3) After 35 + years of supply side, trickle down economics being the dominant financial ideology of Washington, and seeing these policies under the above said republican majority come to such disastrous fruition, defenders of this ideology really have no leg to stand on in debating these issues. We have tried this philosophy and it has failed miserably.

1)Everyone who lost their home and needs a home to live in gets their home back with clear title, no mortgage. (Part of the bailout is their future wealth and if the people pay the price for these mortgages, they should get the properties)

2) Everyone who currently owns a mortgage on a home and is not in default, now gets clear title and their mortgage is wiped from the books just to be fair – the banks are gettin a tone of money for these properties.

3) Low cost health, auto, home and life insurance policies issued by AIG to every person in America.

OR

700 billion to one trillion dollars distributed to every person age 18 or over with amounts determined by current income level and no money goes to the top 5%-10% of earners.

OR

we can just give away our future wealth to one man, who will then turn and give it to a few hundred people – who will keep it and never return it to the economy in any way, shape or form in exchange for pieces of commercial paper with a current value of $0.00 and a realistic future value of $0.00 because who in the hell would buy defaulted paper?

This last one is called trickle down economics or rich people peeing on yo9u, however you want to look at it. We’ve been getting hosed on for quite some time and all we get is hosed again and again so it’s time for some bottom up economics instead.

http://www.youtube.com/results?search_query=zeitgeist+federal+reserve&search_type=&aq=f

In order to clean house we need to get our house elected.

We don’t need concern trolls here and now.

Comeback in 09.

But hold on… what better time ( since we are going to have to borrow the money anyway from our grandkids) to set up that proverbial “lock box” and secure the funds for Social Security and Medicare and Medicaid?

Hell, if we’re Borrowing money from future generations to the tune of Trillions of Dollars, we might as well fund Universal Health CARE this way. No?

If we have the funny money for the Iraq war and to bail out poor investments that the taxpayers have to pay… might as well make it worth our while, no?

Because, IMHO they are just trying to break the bank so some of these programs will be impossible to implement. Don’t fall for it again.

He was an aristocrat with a difference. If you’re going to throw mud on him at least give your reasons. Otherwise it’s just useless empty-headedness. You could just as flippantly say George Washington, Thomas Jefferson and Benjamin Franklin set the stage for the crisis of predatory capitalism existing today. But that wouldn’t make much sense unless you could show proximate cause. In other words, those closest to perpetrating the malefaction are the guilty parties.

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Baaaaaaa…
http://www.youtube.com/watch?v=QiO9FE3TiG4

.

Those on the right think only THEY can handle our government, will do anything to win as the end justifies the means to them.

These bailouts are more than twice what we’ve already paid for the war in Iraq.