You Have More Money in Your Wallet Th...

You Have More Money in Your Wallet Than Bank of America Pays in Federal Taxes

There are 30 comments on the www.truth-out.org story from Feb 27, 2011, titled You Have More Money in Your Wallet Than Bank of America Pays in Federal Taxes. In it, www.truth-out.org reports that:

Today, hundreds of thousands of people comprising a Main Street Movement - a coalition of students, the retired, union workers, public employees, and other middle class Americans - are in the streets, demonstrating against brutal cuts to public services and crackdowns on organized labor being pushed by conservative politicians.

Join the discussion below, or Read more at www.truth-out.org.

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Since: Aug 10

Decatur, GA

#23 Feb 28, 2011
Transfer of somewhere over $3 trillion with a total potential of $23.7 trillion to banks and financial institutions for the socialization of their gambling losses on illegal sub-prime mortgages and credit default swaps. We know the sub-prime lending was illegal because the FBI concluded 80% of all sub-prime criminal fraud originated from the lenders.

• A so-called bailout designed to give money to the banksters without accountability of where the money is going. This is according to testimony of Elizabeth Warren, Harvard law professor appointed to oversee the bailout for Congress, with video explanation below. The bankster-bailout was chosen rather than simply protecting depositors and reorganizing the banks under standard bankruptcy procedure. The two oligarchy political parties denied Congressional hearings for the bankster-bailout, which should have considered cost-benefit analysis for public banks rather than private banks. An important fact that would have come out of the hearings is that the total market capitalization of all the major US banks was less than $300 billion; meaning that the government could have outright bought all of them for less than a tenth of the amount given away. Think about that.

• A 2009 record payout to bank employees, including lucrative bonuses, on pace for $140 billion. Goldman Sachs, with three recent CEOs who have also been Secretary of the US Treasury, is doubling their bonuses from 2008.

• Depression-level unemployment, with the government’s “official figures” understating true unemployment by half.

• The economic crushing of the American middle class, as explained by Elizabeth Warren in her video.

• Record high home foreclosures. An alternative policy to the bankster-bailout would have been to have the banks write-down the value of the mortgages they fraudulently wrote, and reset that lower value as the new loan amount for the homeowner. This could have been a preliminary move to creating non-profit mortgage rates for the public benefit.

• Record federal budget deficit of $1.4 trillion.

• Record federal debt of $12 trillion with annual interest payments of ~$450 billion every year. The oligarchy has no policy to ever pay the national debt, only to make the minimum interest payment.

• Record total US debt from all sources of over $70 trillion.

Dylan Ratigan of MSNBC’s show,“Morning Meeting,” calls the economic “bailout” and subsequent policy,“the largest theft and cover-up ever,”“the worst deal since the Indians sold Manhattan,”“the ‘Masters of the Universe’ are on the take from the taxpayers,”“the biggest transfer of money in the history of the world,” and “No one, the Pharaohs, you pick ‘em, no one even comes close to how much the banks and politicians have stolen from us.” His video is also below.

Continue reading on Examiner.com : 2009 US economy: largest transfer of wealth to financial/political elite in global history - Los Angeles LA County Nonpartisan | Examiner.com

Go ahead, you fools. Protect those big banks that robbed you blind. Trillions of American dollars are gone. Gone, gone, gone. Out of the country gone. Never to be seen again. Your money, my money. America is broke, period. You and I have nothing. What little is left is being manipulated right out of our hands. So close your eyes and pretend it's all Obama's fault if it makes you feel better. Fact is, you'd better start worrying more about what we need to do to get our money back rather than keep doing the finger-pointing game.

“Happiness comes through giving”

Since: Feb 08

Location hidden

#24 Feb 28, 2011
scout wrote:
<quoted text>
Spoken by a true Marxist and a real anti-Christ.
Must you spout your moronic anti-christ nonsense on every thread?

“your life is great”

Since: Aug 09

you poop in clean water

#25 Feb 28, 2011
Lawrence Wolf wrote:
<quoted text>Must you spout your moronic anti-christ nonsense on every thread?
hahahahahhahahahha
(it's funny because it's true)

“your life is great”

Since: Aug 09

you poop in clean water

#26 Feb 28, 2011
scout wrote:
<quoted text>
Spoken by a true Marxist and a real anti-Christ.
thus proving you know nothing of the teachings of Christ, or Marxism.

“Happiness comes through giving”

Since: Feb 08

Location hidden

#27 Feb 28, 2011
anneutral wrote:
<quoted text>
hahahahahhahahahha
(it's funny because it's true)
Another house plant heard from. How can anyone with the ability to use a keyboard believe there is such a thing as an anti-christ? I'll bet even most of your fellow members of the Flat Earth Society don't buy such silliness.

“Happiness comes through giving”

Since: Feb 08

Location hidden

#28 Feb 28, 2011
anneutral wrote:
<quoted text>
hahahahahhahahahha
(it's funny because it's true)
I think I have misinterpreted your previous post. For a moment I thought you were another "anti-christ" type. I should have given more thought to you post. A thousand pardons.

“your life is great”

Since: Aug 09

you poop in clean water

#29 Feb 28, 2011
Lawrence Wolf wrote:
<quoted text>I think I have misinterpreted your previous post. For a moment I thought you were another "anti-christ" type. I should have given more thought to you post. A thousand pardons.
:)
pardoned.
-

“Happiness comes through giving”

Since: Feb 08

Location hidden

#30 Feb 28, 2011
anneutral wrote:
<quoted text>
:)
pardoned.
-
Phew!

Since: Dec 10

Location hidden

#31 Mar 1, 2011
Newsflash: if a company posts a net loss they will pay no income tax. That does not mean they paid no taxes. They paid millions in payroll and other taxes.

What a pile of trash this article is.

Obamunism at its finest.
Dave Christman

Mingo Junction, OH

#32 Mar 12, 2011
Jim Trebowski wrote:
Can you explain to me why we'd have to pay their taxes?
Because it is impossible to avoid paying their taxes. Only people pay taxes. All business taxes are passed on to the people who buy their products or services. That cannot be avoided or changed. So-called "business taxes" are a political fraud that allows politicians to raise taxes without people knowing it. It is also inefficient because the business costs of tax compliance is also passed on to customers.

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