Infinite Unknown

Related articles:

- Obama Proposes $3.8 Trillion Budget Focused on Jobs (Bloomberg):

Feb. 1 (Bloomberg) — President Barack Obama’s $3.8 trillion fiscal 2011 budget puts an emphasis on job creation with $100 billion in additional stimulus spending, along with higher taxes for the wealthy in an attempt to narrow the deficit.

This is just the beginning of the coming ‘Obamatax’ increases.

The US is totally broke:

- America’s Impending Master Class Dictatorship!

Obama Seeks $1.9 Trillion Tax Rise on Rich, Business

U.S. President Barack Obama speaks about the government’s 2011 fiscal year budget in Washington on Feb. 1, 2010. Photographer: Joshua Roberts/Bloomberg

Feb. 1 (Bloomberg) — The Obama administration proposed to increase taxes on Americans earning more than $200,000 by close to $970 billion over the next decade and take in an additional $400 billion from businesses even as it retooled a proposed crackdown on international tax-avoidance techniques.

The new budget released today would reinstate 10-year-old income tax rates of 36 percent and 39.6 percent for single Americans earning more than $200,000 and joint filers who make more than $250,000 as part of a broad $1.9 trillion tax increase proposal. It proposes to eliminate preferences for oil and gas companies, life-insurance products, executives of investment partnerships, and U.S.-based companies that operate overseas.

“The administration proposes to restore balance to the tax code by providing tax cuts to working families, returning to the pre-2001 ordinary income tax rates for families making more than a quarter of a million dollars a year, closing loopholes, and eliminating subsidies to special interests,” the budget says.

In all, Obama proposed $143.4 billion in new tax cuts for individuals who earn under $200,000. While the budget sets out $93.5 billion in gross tax reductions for businesses, overall they would face a net tax increase. Continue reading »

Tags: Barack Obama, Debt, Economy, Global News, Government, Obama administration, Politics, Taxes, Taxpayers, U.S.

“The collapse of the financial system is still in its early stage.”

“The social unrest will illicit cries for the government to exert unusual force to head off a complete breakdown of law and order. The ultimate trap will be set for a system of government claiming to protect a free society.”

“If more power and police authority are not given to the Federal government, it will be argued that only anarchy will result. If more government policing power is given, it will mean a lethal threat to civil liberties.”

“We are rapidly moving toward a dangerous time in our history. Society as we know it is vulnerable to political and social unrest. This impending crisis comes as a consequence of our flawed foreign and domestic economic policies, a silly notion about money, ignorance about central banking, ignoring the onerous power and mischief of out of control intelligence agencies, our unsustainable welfare state and a willingness to sacrifice privacy and civil liberties in an attempt to achieve safety and security from an inept government.”

“Dangerous times indeed.”

“The only way that we can prevent blood from running in the streets is to offer a better idea of the proper role of government in a society that desires, first and foremost, liberty.”

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The Fed and the US government are destroying America:

- America’s Impending Master Class Dictatorship! (MUST-READ!)

- The CFR Controls American News/Media

- Senate Proposes Increasing US Debt Limit to $14.3 Trillion: “If Congress does not enact this legislation, and soon, then the Treasury would default on its debt for the first time in history,” said Senate Finance Committee Chairman Max Baucus

- US: Unfunded Benefits Dig States’ $3 Trillion Hole

- Illinois enters a state of insolvency: ‘We’re close to de facto bankruptcy, if not de jure bankruptcy.’

- The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street

- Peter Schiff: The Lunacy of US Government Programs

- Former Dean of Harvard College Harry R. Lewis: Larry Summers, Robert Rubin: Will The Harvard Shadow Elite Bankrupt The University And The Country?
Continue reading »

Tags: Bailout, Barack Obama, Ben Bernanke, Bubble, Central Bank, China, CIA, Civil liberties, Congress, Constitution, Debt, Depression, Detention, Dollar, Economy, Fed, Federal Reserve, Franklin Delano Roosevelt, Freedom, Global News, Government, Habeas Corpus, Herbert Clark Hoover, Hyperinflation, Inflation, Keynesianism, Military, Obama administration, Politics, Poverty, Real Estate, Recession, Society, Taxes, Taxpayers, Terrorism, Terrorists, Treasury, U.S., Unemployment, War

This article is a MUST-READ!

This is not a conspiracy. This is politics and economics.

Wake up America! You will lose everything, if you do not act NOW.

Prepare yourself for a complete controlled meltdown. The greatest financial collapse in world history.

A hyperinflationary depression. THE Greatest Depression.

The Fed and the US government are destroying America!

(More information at the end of the following article.)

“The people no longer have elected representatives; they have elected traitors.”

By Stewart Dougherty

Stewart Dougherty is a specialist in inferential analysis, the practice of identifying historic and contemporary patterns and then extrapolating their likely effects upon the future. Dougherty was educated at Tufts University (B.A., magna cum laude), and Harvard Business School (M.B.A. and an academic Fellow).

FOREWORD: At certain times, focusing on the big picture is important not just for investment success, but for personal welfare, and even survival. We believe such times are here. It is estimated that 98% of Americans have never held a gold coin in their hands. Yet 100% of Americans regularly handle Federal Reserve Notes. From a contrarian standpoint, the financial message from those two statistics is clear. Even so, gold is much more than money or an investment medium; it stands for liberty and throughout history has facilitated escape and ensured freedom. Never having touched a gold coin is the monetary equivalent to never having breathed fresh air, felt the warmth of sunshine, looked up at the stars or risen from the gutter. Fiat Federal Reserve Notes are becoming nothing more than sewage decomposing in the vast, toxic septic tank of predatory Washington politics, epic Federal Reserve arrogance and error, blatant Wall Street fraud and outright Master Class plunder. Below, we outline America’s troubling and compounding predicament, and urge you to think about how to protect yourself from its consequences, both financially and personally.

Thanks to the endless barrage of feel-good propaganda that daily assaults the American mind, best epitomized a few months ago by the “green shoots,” everything’s-coming-up-roses propaganda touted by Federal Reserve Chairman Bernanke, the citizens have no idea how disastrous the country’s fiscal, monetary and economic problems truly are. Nor do they perceive the rapidly increasing risk of a totalitarian nightmare descending upon the American Republic.

One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by America’s citizens since the nation’s founding 235 years ago, the government would remain totally bankrupt.

According to the Federal Reserve’s most recent report on wealth, America’s private net worth was $53.4 trillion as of September, 2009. But at the same time, America’s debt and unfunded liabilities totaled at least $120,000,000,000,000.00 ($120 trillion), or 225% of the citizens’ net worth. Even if the government expropriated every dollar of private wealth in the nation, it would still have a deficit of $66,600,000,000,000.00 ($66.6 trillion), equal to $214,286.00 for every man, woman and child in America and roughly 500% of GDP. If the government does not directly seize the nation’s private wealth, then it will require $389,610 from each and every citizen to balance the country’s books. State, county and municipal debts and deficits are additional, already elephantine in many states (e.g., California, Illinois, New Jersey and New York) and growing at an alarming rate nationwide. In addition to the federal government, dozens of states are already bankrupt and sinking deeper into the morass every day.

The government continues to dig a deeper and deeper fiscal grave in which to bury its citizens. This year, the federal deficit will total at least $1,600,000,000,000.00 ($1.6 trillion), which represents overspending of $4,383,561,600.00 ($4.38 billion) per day. (The deficit during October and November, 2009, the first two months of Fiscal Year 2010, totaled $296,700,000,000.00 ($297 billion), or $4,863,934,000.00 ($4.9 billion) per day, a record.) Using the GAAP accounting method (which is what corporations are required to use because it presents a far more accurate and honest picture of a company’s finances than the cash accounting method primarily and misleadingly used by the U.S. government), the nation’s fiscal year 2009 deficit was roughly $9,000,000,000,000.00 ($9 trillion), or $24,700,000,000.00 ($24.7 billion) per day, as calculated by brilliant and well-respected economist John Williams. (www.shadowstats.com) Fiscal Year 2010’s cash- and GAAP-accounting deficits will likely be worse than 2009’s, given government bailout and new program spending that is on steroids and psychotic.

Putting Fiscal Year 2009’s $9,000,000,000,000.00 ($9 trillion) deficit another way, 17% of America’s private wealth, accumulated over a period of 235 years, was wiped out by just one year’s worth of government deficit spending insanity.

Given this, is it any surprise that Treasury Secretary Geithner has announced that the release of the nation’s FY 2009 supplemental GAAP financial statements has been delayed? Remember, this is the same Secretary Geithner who bullied people to cover up the sordid details of the AIG, or more accurately, the taxpayer-funded, multi-billion dollar, Santa Claus bailout and bonus bonanza for Goldman Sachs. Do you really think this government, characterized as it is by fiscal and monetary secrecy, lies, chicanery, cronyism and stonewalling, wants the people to know what is actually happening? Obviously, it does not, so it hides from the public the inexcusable facts.

Continue reading »

Tags: Al Gore, Alan Greenspan, Bailout, Bankruptcy, Barack Obama, Ben Bernanke, Bonds, Corruption, Debt, Dictators, Dictatorship, Dollar, Economy, Fed, Federal Reserve, Franklin Delano Roosevelt, Fraud, Freedom, GDP, Global News, Gold, Goldman Sachs, Government, Health, Healthcare, Henry Paulson, Hugo Chavez, Hyperinflation, Inflation, Keynesianism, Larry Summers, New World Order, North Korea, Obama administration, Politics, Ponzi schemes, propaganda, Robert Rubin, Silver, Society, Taxes, Taxpayers, Timothy Geithner, Treason, Treasury, U.S., Venezuela, Wall Street

Tags: Banks, Barack Obama, Constitution, Economy, Fed, Federal Reserve, Goldman Sachs, Government, Healthcare, Obama administration, Politics, Taxes, Taxpayers, U.S.

Related information:

- Marc Faber on Coming Sovereign Debt Crisis: Next Countries to Default are the US, Japan and the ‘PIIGS’ (Yahoo Finance)

- Fitch: US Must Cut Spending To Save AAA Rating; US December Deficit Nearly Doubles (Telegraph)

- The Coming Sovereign Debt Crisis (Forbes)

- A global fiasco: Japan is about to blow up (Telegraph)

Surprise:

All that bailout and stimulus money has to be paid back by the US taxpayer through higher taxes or by the Fed monetizing US debt (= quantitative easing = printing money = creating money out of thin air), which creates inflation, which is nothing more than a tax on monetary assets!

Change you can believe in!

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.” - Ron Paul

(Reuters) — The United States must soon raise taxes or cut government spending to curb its debt, and failure to act will risk a crippling dollar crisis as investor confidence ebbs, a panel of experts said on Wednesday.

“It has got to be done. It will be done some day. It may be done with enormous pain. Or it may be done more rationally,” said Rudolph Penner, a former head of the nonpartisan Congressional Budget office who co-chaired the 24-strong Committee on the Fiscal Future of the United States.

President Barack Obama’s administration will present his budget for fiscal 2011 early next month amid intense pressure to live up to election campaign promises not to raise taxes on middle class Americans, while confronting a record deficit.

Continue reading »

Tags: Barack Obama, Debt, Dollar, Economy, Government, Obama administration, Politics, Taxes, Taxpayers, U.S.

Related articles:

- Schwarzenegger presses for more aid from Washington (Christian Science Monitor):

Gov. Arnold Schwarzenegger and state lawmakers are asking for about $8 billion in aid from Washington to help plug California ’s $20 billion-odd budget hole and prevent more spending cuts.

- Wash. State Lawmakers, Gov Talk Reforms, Taxes (ABC News):

The Washington state Legislature should consider major government reforms and a multitude of possible tax hikes — no matter how small — as they try to solve a $2.6 billion budget deficit, top state officials said.

- Illinois Seeks Foreign Buyers for Pension Debt as Deficit Looms (Bloomberg):

Jan. 7 (Bloomberg) — Illinois, the second-lowest-rated U.S. state, is seeking to attract overseas investors as it sells $3.47 billion in taxable bonds amid a warning from its comptroller that state finances are in a “downward slide.”

Jan. 7 (Bloomberg) — U.S. state tax collections fell the most in 46 years in the first three quarters of 2009 as the recession shrank revenue from sources including personal income, the Nelson A. Rockefeller Institute of Government said.

Revenue dropped 13.3 percent, or $80 billion, compared with the same nine months of 2008, to $523 billion, the institute said. Collections in the third quarter alone sank 10.9 percent to about $162 billion, according to the report released today by the Albany-based body. It was the fourth straight quarterly decline. The institute is the public policy research arm of the State University of New York.

“The first three quarters of 2009 were the worst on record for states in terms of the decline in overall state tax collections, as well as the change in personal income and sales tax collections,” Rockefeller analysts Lucy Dadayan and Donald J. Boyd wrote in the report. The institute explores ways to help state and federal governments work better.

The worst economic slump since the Great Depression has forced states to cut spending, raise taxes and pass down costs to local governments to cope with $193 billion of combined budget deficits in the current fiscal year, according to a Center on Budget and Policy Priorities report issued last month.

Budget gaps have opened in 31 states since fiscal year 2010 began, Dadayan and Boyd wrote, citing a National Conference of State Legislatures study.

“2010 is going to be very difficult for the states and the next year is likely to be significantly worse,” Rockefeller Deputy Director Robert Ward said in an interview.

Continue reading »

Tags: Debt, Economy, Government, Politics, Taxes, Taxpayers, U.S.

The US is already beyond hope!

See also:

- John Williams of Shadowstats: Prepare For The Hyperinflationary Great Depression

This is the Greatest Depression.

ShadowStats.com founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system.

Courtesy of John WilliamsEconomist/statistician John Williams shifts through the government’s rose-tinted data

Do you believe everything the government tells you? Economist and statistician John Williams sure doesn’t. Williams, who has consulted for individuals and Fortune 500 companies, now uncovers the truth behind the U.S. government’s economic numbers on his Web site at ShadowStats.com. Williams says, over the last several decades, the feds have been infusing their data with optimistic biases to make the economy seem far rosier than it really is. His site reruns the numbers using the original methodology. What he found was not good.

Maymin: So we are technically bankrupt?

Williams: Yes, and when countries are in that state, what they usually do is rev up the printing presses and print the money they need to meet their obligations. And that creates inflation, hyperinflation, and makes the currency worthless.

Obama says America will go bankrupt if Congress doesn’t pass the health care bill.

Well, it’s going to go bankrupt if they do pass the health care bill, too, but at least he’s thinking about it. He talks about it publicly, which is one thing prior administrations refused to do. Give him credit for that. But what he’s setting up with this health care system will just accelerate the process.

Where are we right now?

In terms of the GDP, we are about halfway to depression level. If you look at retail sales, industrial production, we are already well into depressionary. If you look at things such as the housing industry, the new orders for durable goods we are in Great Depression territory. If we have hyperinflation, which I see coming not too far down the road, that would be so disruptive to our system that it would result in the cessation of many levels of normal economic commerce, and that would throw us into a great depression, and one worse than was seen in the 1930s.

What kind of hyperinflation are we talking about?

I am talking something like you saw with the Weimar Republic of the 1930s. There the currency became worthless enough that people used it actually as toilet paper or wallpaper. You could go to a fine restaurant and have an expensive dinner and order an expensive bottle of wine. The next morning that empty bottle of wine is worth more as scrap glass than it had been the night before filled with expensive wine.

We just saw an extreme example in Zimbabwe. … Probably the most extreme hyperinflation that anyone has ever seen. At the same time, you still had a functioning, albeit troubled, Zimbabwe economy. How could that be? They had a workable backup system of a black market in U.S. dollars. We don’t have a backup system of anything. Our system, with its heavy dependence on electronic currency, in a hyperinflation would not do well. It would probably cease to function very quickly. You could have disruptions in supply chains to food stores. The economy would devolve into something like a barter system until they came up with a replacement global currency.

What can we do to avoid hyperinflation? What if we just shut down the Fed or something like that?

We can’t. The actions have already been taken to put us in it. It’s beyond control. The government does put out financial statements usually in December using generally accepted accounting principles, where unfunded liabilities like Medicare and Social Security are included in the same way as corporations account for their employee pension liabilities. And in 2008, for example, the one-year deficit was $5.1 trillion dollars. And that’s instead of the $450 billion, plus or minus, that was officially reported.

Wow.

These numbers are beyond containment. Even the 2008 numbers, you can take 100 percent of people’s income and corporate profit and you’d still be in deficit. There’s no way you can raise enough money in taxes.

What about spending?

If you eliminated all federal expenditures except for Medicare and Social Security, you’d still be in deficit. You have to slash Social Security and Medicare. But I don’t see any political will to rein in the costs the way they have to be reined in. There’s just no way it can be contained. The total federal debt and net present value of the unfunded liabilities right now totals about $75 trillion. That’s five times the level of GDP. Continue reading »

Tags: Barack Obama, Debt, Depression, Dollar, Economy, Fed, Federal Reserve, GDP, Gold, Government, Great Depression, Healthcare, Hyperinflation, Medicaid, Medicare, Obama administration, Politics, Social Security, Taxes, Taxpayers, U.S., Weimar Republic

Alex welcomes back to the show Christopher Monckton, the 3rd Viscount Monckton of Brenchley, British politician, business consultant, policy adviser, writer, columnist, inventor and ardent critic of the bogus scientific consensus on climate change.

Climate scam guru Al Gore has for years refused to accept Monckton’s repeated challenge to a public debate on global warming. Monckton has warned the proposed UN Climate Change Treaty Obama is expected to sign along with other world leaders in Copenhagen will cede U.S. sovereignity to the UN.

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Added: 17. December 2009 Continue reading »

Tags: Christopher Monckton, Climate Change, Copenhagen, Dictatorship, Environment, Fraud, Global News, Global Warming, Government, IPCC, New World Order, Politics, Science, Taxes, Taxpayers

ROFL!

WASHINGTON - At a time when the White House is projecting the largest deficit in the nation’s history, Uncle Sam is trying to recover billions of dollars in unpaid taxes from its own employees.

Federal workers owe more than $3 billion in income taxes they failed to pay in 2008. According to Internal Revenue Service documents, 276,300 federal employees and retirees owe $3,042,200,000.

The IRS tracks the voluntary compliance rate of federal employees and retirees each year, and each year feds come up short. The one bright spot in this year’s report is that after several years of a steady increase, the amount owed by feds is down from the previous year.

Federal employees and retirees owed $3,586,784,725 in unpaid income taxes in 2007.

The documents show delinquent employees from nearly every federal agency with more than 25 employees. Based on percentages, the Department of The Treasury, which includes the IRS, has the best compliance rate. Fewer than 1 percent of Treasury employees didn’t pay their taxes in 2008.

The IRS is the only federal agency where employees can be fired for not paying their taxes. The non-compliance rate for IRS employees in 2008 was 0.76 percent — down from 0.89 percent in 2007.

The agency with the most tax scofflaws is the U.S. Postal Service, with 28,913 employees who owe $297,933,756. But that is still a dramatic improvement from 2007 when more than 54,000 employees owed more than $407 million.

“We urge our employees to comply with all tax laws and are encouraged that many who have been delinquent have agreed to payment plan with the IRS,” USPS spokesperson Mark Saunders tells WTOP in a statement.

“It’s important to look at the percentage of postal employees who may be delinquent on their federal taxes, not just the number itself. According to IRS figures, the delinquency rate for Postal Service employees is relatively small.”

The Postal Service, the largest employer in the federal government aside from the military, has a non-compliance rate of 3.95 percent compared to the federal average of 2.8 percent.

Retired military personnel make up about 33 percent of the money owed with $1,343,538,055 in unpaid taxes for 2008.

The agency with the highest percentage of delinquent employees is the National Capital Planning Commission, where 10.42 percent of its 48 employees owe $26,947.

“NCPC is committed to working closely with the Department of The Treasury to resolve issues of federal income tax delinquency involving its staff,” NCPC spokeswoman Lisa MacSpadden said in a statement.

“The agency takes this matter very seriously and recognizes that federal employees must adhere to the highest ethical standards regarding financial matters.

“We remind our employees of this responsibility as part of our mandatory annual ethics training. Upon receipt of an official notice from the IRS about a specific employee’s noncompliance, NCPC will take appropriate administrative action.”

Other notable agencies on the list:

• Executive Office of the President (includes the White House): 50 employees owe $812,917;
• U.S. Senate: 231 employees owe $2,469,026;
• U.S. House of Representatives: 447 employees owe $5,809,631;
• U.S. Tax Court: 3 employees owe $39,752;
• Active Duty Military: 27,111 employees $102,474,672.

Continue reading »

Tags: Congress, Government, IRS, Politics, Senate, Society, Taxes, Taxpayers, U.S., White House

‘Rises in C02 lag 800 years behind temperature rises. So temperature is leading CO2 by 800 years!’
- Prof. Ian Clark

THAT is science!

Those elite criminals will make you pay taxes for nothing!

Continue reading »

Tags: Climate Change, CO2, Environment, Fraud, Global News, Global Warming, Science, Taxes, Taxpayers