Profilling Rich From Poor

 
 

Global Warming And Government Control

Bob L.      Just My Opinion, BUT
June 18th 2015

Global Warming what is it, it is the fabrication of the greedy who want to bring this Country down with all the other Countries around the world for their profit and control of all people, just like Hitler, each County should have their own control of their future, NOT ONE, you can see what happens when a dictator has control, total domination of its people who no longer have a say, just like what is happening here in this Country today.

Now lets look at who is causing global warming, well it is people who are in such a hurry to get their ass in an other place before their brain gets there, for one, cars that go 200 miles per hour when the speed limit is 70, ride on planes to get their ass to the other side of the Country faster no matter at what cost to the world, and these people are the ones who are yelling the loudest about global warming.

Now who are these people, Environmentalist, Special Interest, and all Government Agencies who speak for them selves not the people, look around, do you have a say in how much Government Employees pays them selves like they do you, do you have a say, do you have a say in how much taxes you are going to pay them, do you have a say in what they are going to spend that money on, and what project are going to be taken care of and at what cost.

Has Government told you where you can go and where you can go at a second cost that you are already paying for in your taxes, and why are they doing this, to bring in more money to pay them selves, did they give you a choice, NO, here again it is the same thing that they have been doing for years, you don’t know what is good for you so we are going to pick and choose what is good for you, we know what is best, yes what is best is not for you, it is what’s best for them all to get paid more, they are just another dictator of YOUR life.

You no longer have a life as a free American Citizen to shape your destiny, your Education, what type of work you want to do, where you want to go on Vacation without breaking the bank, if you want to go camping in a park that is one thing supply’s and clean up for the park is fine, no wages, BUT just to visit for a day, you should not have to pay to have a family outing.

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You Are What You Make Of Your Self

depression

Direction We Are Headed

You are you and not some ones Dummy, but today people let some one tell them what to do, well you make of your life for what you want out of it, you want a job then get an education and not let some one tell you that you are so dumb that you will never get a job, but there you are you get out of life what you put into it

People are not born dumb, they are just taught to hate, and not taught to get a good education, a good education come from you and what you want out of life, not what some one else wants you to be, people who work to together have a better chance to excel in life. Continue reading

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What Do You Think About America???

Bob L.  Just My Opinion
Jan. 25th 2014

I always make the comment about stop looking in the mirror and look on the other side and see what is happening to this Country, well some one asked me the other day, have you looked in the mirror lately, and I came back and told them that I have looked in the mirror, and nothing has changed in the last sixty-five years, the only thing that has changed is that I have wrinkles, I have gotten older and my hair has tuned gray and I have put on weight, so why do I want to spend time looking in the mirror, there is more important things going on in this Country on  the other side of that mirror that should be taken care of, priority one, protecting our Freedom and Country.

582501_464073756973299_628450550_n1If you have not noticed lately, this Country is becoming turned into a Dictator Controlled Country, is this true?  yes, while you were spending all your time in front of the mirror taking pictures of your self and posting them on the internet, this Country is being taken over by a run away Government and taking away your rights of freedom set up by the U.S. Constitution, they are bending over and letting Environmentalist, Special Interest Groups, Terrorists, and people who think that it does not fit their Lifestyle, so every one has to go by what they say. Continue reading

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Is It Discrimination Returning From The Past

My Opinion By Bob L.
Dec. 20 2013

As we go into another year, discrimination keeps getting closer to the 1950, but no one seems to see that, they only see what is happening for some sports game, if people put as much energy in to protecting this Country as they do for some sports game, we would not have Government taking over all Legal Americans lives.

Where discrimination comes in is Government is passing laws for some and crucifying others, a good example is the First Amendment, Freedom of Speech when some one makes a comment about Gays, Minorities, they want to plaster it all over the news, or take them to court, but when it is on the other side it is not alright.

By doing this, the Government is telling these people go after any one who says any thing bad about you, or denies you service, when did it become a law that you do not have the right to follow your beliefs or the right to deny service or say how you feel personally, if that is the case then NO ONE can deny you service or say any thing about any one, if that is the case, then you have to stop these double standards laws, and enforce laws to all, no exceptions for who you are.

This Double Standard is also used when it comes to HATE Groups, like the CCC, the Skin Heads, or any one that goes after any one or Group, but when it comes to a Church Group that does what these other groups do, they are not classified as a hate group by the Government, this means that out Government is out of control, but what do the people do about it, nothing but complain about not making enough money.

If the people would break that mirror in front of them they would see that this Country is slowly being taken over by Dictators and why, because people are so wrapped up at looking at them selves in the mirror to see what is going on, Americans have to start taking care of this Country before it is lost, once gone always gone. 

1378017_351915341610802_1560812093_nThis is what America has become, give me give me money, money more money so I can buy, buy, buy, then go out and file Bankruptcy because you did not give me more money to buy the fanciest thing on the market, and by this greed is now starting to bring down this Country by Tax, Tax, and more Taxes, you have people out there scraping for food and a place to call home that they can afford, while the greedy keep wanting more, NOW we have a Government that wants more control over the people while letting the rich have their way.

Merry Christmas and a Safe New Years to you all, and just remember after the first of the year, the more you make the more you will pay the Government Insurance Company, and the IRS for Penalties.

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What Next For Other Cities Under This Administration, and Last?

 

Comment By Bob L.
July 19th 2013

Detroit files for largest-ever bankruptcy in U.S. history, they say that it started Sixty years ago, this shows just what will happen when you got to have the best of every thing and not spending money wisely.

This is going to happen all over if these Cities and States don’t learn to spend money where it is needed and not on frills, what chased businesses out of there? Why did people move out? They say that sixty-three percent moved out, could it be because of wanting to much and not taking care or business?

I don’t know about you, but I would call it spending too much on Public Servant pay and perks, that is what happen in Detroit, could this happen in your State, Cities, and Counties?

If you don’t want this to happen where you live, you better ratchet in your Governments spending and taxing, they love to spend money, but they don’t want to repair what they have, they think that new is better, Oh wait that sounds just like our schools, they would rather spend it on Wages, schools, but not on an education for our Children.

$1.25 Billion can be spent to out source to an organization to administer Obamacare, what is it $1.8 Billion to support the Muslim Brotherhood, and how much more in aid to other Countries, but when it comes to the United States where it is needed, but the same thing goes for there are no homeless people, or starving Children in this Country.

It seem to be able bail out the rich so they can give them selves Bonuses every year, the same goes for the Bonuses that they gave the IRS people.

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Detroit files for largest-ever bankruptcy in U.S. history

Reuters
By Nick Carey
07-19-2013

DETROIT (Reuters) – Detroit filed the largest municipal bankruptcy in U.S. history on Thursday, setting the stage for a costly court battle with creditors and opening a new chapter in the long struggle to revive the city that was the cradle of the American auto industry.

The bankruptcy, if approved by a federal judge, would force Detroit’s thousands of creditors into negotiations with the city’s Emergency Manager Kevyn Orr to resolve an estimated $18.5 billion in debt that has crippled Michigan’s largest city.

Michigan Governor Rick Snyder said he saw no other options for Detroit and approved Orr’s request to file for Chapter 9 bankruptcy protection.

“Detroit simply cannot raise enough revenue to meet its current obligations, and that is a situation that is only projected to get worse absent a bankruptcy filing,” wrote Snyder, a Republican, in a letter accompanying the filing.

Detroit’s creditors are expected to face huge losses, and the future of retiree pension and health benefits for thousands of city workers hangs in the balance.

Anticipating the filing on Thursday, investors drove prices of Detroit bonds and notes lower, sending their yields to record highs on Thursday.

In some respects, Detroit’s legacy as a model for American innovation is at stake as well. Its crippled condition threatens to overwhelm its image as the home of Henry Ford’s pioneering assembly line and Motown’s 1960s soul-music hit machine. More recently, the city has become an incubator for efforts to repopulate and reinvigorate an urban relic of a bygone, industrial age.

New York, Cleveland and Philadelphia previously teetered on bankruptcy, but Detroit is the first major U.S. city to go over the edge.

Detroit has lost 25 percent of its population in the last decade, with just 700,000 residents remaining. The ranks of retirees outnumber the city’s active workers by more than a 2-1 ratio. With a quarter of its buildings abandoned in some neighborhoods, no other American city has borne the brunt of deindustrialization so heavily.

In his July 16 letter to the governor making the case for a bankruptcy filing, Orr laid bare the scope of the city’s decline.

“After decades of fiscal mismanagement; plummeting population, employment and revenues; decaying City infrastructure… Detroit today is a shell of the thriving metropolis that it once was,” Orr wrote.

Detroit’s bankruptcy filing: http://r.reuters.com/tuj79t

WHITE HOUSE MONITORING

Snyder named Orr in March to tackle the city’s spiraling long-term debt, which is estimated at $18.5 billion.

A White House spokeswoman said Democratic U.S. President Barack Obama and his senior team were monitoring the situation in Detroit closely. But unlike after the economic collapse of 2008, in which the federal government injected billions in cash into U.S. auto makers General Motors Co (NYS:GMNews) and Chrysler as the first step of a quick turn through a managed bankruptcy process, Obama made no promises this time.

“While leaders on the ground in Michigan and the city’s creditors understand that they must find a solution to Detroit’s serious financial challenge, we remain committed to continuing our strong partnership with Detroit…,” White House spokeswoman Amy Brundage said.

Detroit was once synonymous with U.S. manufacturing prowess. Its automotive giants switched production to planes, tanks and munitions during World War Two, earning the city the nickname of the “Arsenal of Democracy.”

Now the city’s name has become synonymous with decline, decay and crime. A population that peaked at 1.8 million in the 1950s has fallen steadily since then. Manufacturing job losses and an exodus of white residents to the suburbs, which accelerated after race riots in the 1960s, have left huge swaths of this 80 percent black city blighted and crime-ridden.

Pay cuts and job reductions in the city’s police and fire departments have added to the sense of insecurity. Budget cuts have left streetlights broken, fire hydrants out of order, and cop cars and fire trucks badly in need of repair.

The city’s murder rate is at its highest in nearly 40 years; only a third of Detroit’s ambulances were in service in the first quarter of 2013; and an estimated 5,000 buildings a year intentionally are set on fire.

To compound the challenges, a crime wave in city government has compromised efforts to recover. In just one high-profile case, former Mayor Kwame Kilpatrick sits in prison, after he and associates were convicted of public corruption and systematic bid rigging.

The private sector has sought to make inroads against the crushing problems. Quicken Loans founder Dan Gilbert in 2010 began moving more than 7,000 jobs downtown, and several Detroit-based foundations have begun targeted investment in small local firms, neighborhoods and public schools.

But despite high taxes, the city’s coffers have continued to dwindle.

In June, the city’s emergency manager, Orr, presented a proposal to creditors offering them pennies on the dollar. His plan had met with resistance from some creditors, most notably Detroit’s two pension funds representing retired city workers. The funds recently filed lawsuits in a state court challenging the governor’s ability to authorize Orr to file for bankruptcy.

LONG ROAD AHEAD

Creditors are expected to mount a stiff challenge to the bankruptcy, which was filed in the U.S. Bankruptcy Court in the Eastern District of Michigan.

Douglas Bernstein, a bankruptcy attorney at Plunkett Cooney in the Detroit suburb of Bloomfield Hills, said he expected the case would last one to three years and would be very costly.

“This could run to tens-of-millions to hundreds-of-millions of dollars,” he said.

Orr has said previously that he hoped Detroit could emerge from bankruptcy in a year or less. During a press conference in Detroit on Thursday after the bankruptcy filing, he said he hoped Detroit would emerge from bankruptcy by late summer or fall in 2014.

“We are planning to get through this process as expeditiously as possible,” said Orr, an experienced bankruptcy lawyer before he took the emergency manager job.

Corporate bankruptcy filings with far less at stake have taken much longer than Orr’s targeted timeline. Richard Ciccarone, managing director of McDonnell Investment Management, said it would be a long, drawn out process.

“They’re dealing with very difficult issues in which there’s not very much court precedent for a major city in this arena,” he said.

While thousands of companies have gone through bankruptcy and emerged intact, only a relative handful American cities have made Chapter 9 filings since the Bankruptcy Act was amended in 1934 to include municipalities. The paucity of precedent and sheer number of creditors portend a complicated road ahead.

“It’s a very complex landscape and it’s one that’s going to be watched very closely by municipal investors,” said Robert Amodeo, a portfolio manager at Western Asset in New York.

General Motors, the only major U.S. automaker headquartered in Detroit, said in a statement that the company “is proud to call Detroit home and…(this is) a day that we and others hoped would not come. We believe, however, that today also can mark a clean start for the city.”

Ford Motor Co (NYS:F), which is based in the Detroit suburb of Dearborn, said it was “optimistic that governmental leaders will be successful in strengthening the community.”

But Ed McNeil, chief negotiator for a coalition of 33 unions that represent most of the service workers for the city of Detroit said the bankruptcy filing was about “busting the unions.”

“I’ve said all along that this is a power grab,” said McNeil. “This is not about fixing the city’s finances. It’s about the governor and his own agenda to take over the city of Detroit.”

(Additional reporting by Bernie Woodall, Deepa Seetharaman, Joseph Lichterman Paul Lienert in Detroit; Karen Pierog in Chicago and Roberta Rampton in Washington; Editing by Leslie Gevirtz and Lisa Shumaker)

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Hope And Change, Really?

Comment By Bob L.
July 9th 2013

I can remember back in 2008 when a Senator running for President said he was for hope and change and spreading the wealth around by taking it from the rich and having them pay their fair share and giving it to the poor.

Well it has been Four Years and the poor are spreading the wealth while the rich are reaping the glory of the money, just the reverse of what he said was going to do.

Well if you have not heard this person, listen and see if you can see what he went through as a kid in Cuba, and then the United States when he was growing up until now, I think he tells a pretty sad story of what can happen when you don’t pay attention to what is going on.

If you believe in and love this Country, stand up and fight for it, don’t let it be torn down, Listen to this Gentleman all the way through, and then see if we are  not headed in the same direction as Castro and Hitler. 

I believe that we should spend more time finding out who we are going to put in charge of our Country to give true hope and change, not just a bunch of lies just to get elected so they can rewrite the U.S. Constitution and Bill of Rights, if they are caught in lies, throw them out right away, don’t give them a chance to change any thing, freeze what they can do immediately.

This Country has to stop profiling and using each other against one another just to get what they want, they keep saying that all people are equal, but when it comes to wanting some thing, the first thing that comes up is profiling, we are a free nation why can’t we keep it this way and stop this hatred to others, but when you have a Government that thinks that hate groups are only white people, just look at what the White House said about the Westboro Baptist Church, was not a hate group, well it seems falls under what the LAW calls a hate group.

This has become a Country of hate, I can remember when thing were going in the direction of excepting you for who you are not where you came from or your color, today every thing has started to go back to the time of slavery, but this time it is all people making less than $60,000.00 a year or ones who now don’t even have a chance to find a job, this is getting pretty sad for a Country that fought to be free from Dictating Governments.

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40% Of Small Businesses Not Hiring Any New Workers

Comment By Bob L.
June 25th 2013
[ I know some don’t like what I say, but today it is greed running this Country for ones self, and the truth hurt ]

Every one just had to have Obamacare, but no one had any idea that it was a scam pulled on the American people, well it is, because they are going to make sure that they the Politician will not have to get it, because they knew that it was that nothing more than a scam that they put together so they could invest in it, just like the scam they are pulling for Global Warming, it is a profit-making deal for them to invest in, like Carbon Futures. (The rich protect themselves before any one else)

Boy if you can not see it, then you are dumber than I thought, because of your ignorance, and just got to have what you call the best of every thing, you are bring this Country down to a Third world Nation, and will soon be in another Depression worst then the Nineteen Thirties Depression.

Tighten your belts, because it is coming, and it is going to be a rude awaking when it happens, and if you have not noticed it has already started, people have been warned, and are turning a blind eye on it and say it won’t happen, well you better hope so for your Children’s sake. 

This Whole thing with Obamacare like they say, was set by some one other than the ones who said you have to pass it if you want to know what is in it.

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40% Of Small Businesses Not Hiring Any New Workers Thanks To Obamacare

AUTHOR By Warner Todd Huston
June 24, 2013

Just at a time when we need the job-creating talents of small businesses to pull us out of the Obama Depression, he’s made it harder to do so with his jobs-killing healthcare law. It is now reported that Obama’s odious and country-killing healthcare law is causing 41 percent of small businesses to stop hiring.

A recent CNBC news report said that, “Forty-one percent of the businesses surveyed have frozen hiring because of the health-care law known as Obamacare. And 19 percent answered ‘yes’ when asked if they had ‘reduced the number of employees you have in your business as a specific result of the Affordable Care Act.’”

Obama is killing jobs at a record pace and already we have millions of Americans out of work, under employed, or have just plain given up looking. Worse, poverty is rising under this anti-capitalist president.

Yet, just as the President is telling us that Obamacare is a must have for all we lowly citizens, his party is working to get Congress exempted from Obamacare because “it’s not fair” to force Congressmen and their staffers to live under the same laws we have to live under.

Obamacare is also about to levy $130 billion in fines on business, too. This is also squashing the growth of the economy because businesses understand that they’ll have $130 billion removed from them, a whopping fee they had never had to pay before.

And this doesn’t even count the cost of insurance that is right now already skyrocketing. In Ohio insurace is already up 88% and in California it is a crushing rise of 140%! And this is just the beginning, America.

This isn’t the only new tax that Obamacare forces on America. Obamacare even charges a tax to use a tanning booth!

Remember, the law doesn’t even fully kick in until 2014. This economic devastation will only get worse.

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Ten Times a Hypocrite Just Like the Rest

Comment: By Bob L.
01-16-2013

I might have some dumb comments, but they are no dumber than the way people act and things they do today, it is what I see and read that makes my opinion, Some might not be a true story today but usually ends up true later, but it is how I see it, and usually it does becomes fact down the road.

I remember a few years back when Nixon was elected on his Honesty, yet some did not trust him, and wallah look what happen, then no one admitted that they voted for him, well here we go again, another Honest President that has not done any thing but protect him self and his Family for life, but not YOURS, but a President who has done every thing to bring this country down, I have not seen so many U.S. Citizens so BRAIN WASHED  do so little to protect this County where they were born, I could say more, but that will be another Dumb story to what I see going on in this Country today from the past years.

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NRA hits Obama over ‘hypocrisy’ of armed guards for daughters

By Olivier Knox, Yahoo! News | The Ticket
01-15-2013

In a sign of how brutal, emotional and deeply personal the coming battle over gun violence is likely to be, the National Rifle Association on Tuesday accused President Barack Obama of hypocrisy for having the Secret Service protect his daughters even as he opposes the NRA’s call for armed guards in schools.

The Web video, first obtained by The Blaze, opens with a narrator asking, “Are the president’s kids more important than yours? Then why is he skeptical about putting armed security in our schools when his kids are protected by armed guards at their school?”

The 35-second video makes no effort to hide the tension and animosity between the NRA and Obama, even stepping into the recent “fiscal cliff” debate.

The video continues, “Mr. Obama demands that the wealthy pay their fair share of taxes but he’s just another elitist hypocrite when it comes to a fair share of security” as an altered image of the president peers over a stack of dollar bills, followed by images of “Meet the Press” host David Gregory, California Sen. Dianne Feinstein, New York City Mayor Michael Bloomberg and Vice President Joe Biden.

A White House official declined to comment on the video. However, spokesman Jay Carney did announce that Obama would outline his administration’s plan to address gun violence on Wednesday.

Eric Pfeiffer contributed to this report.

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Bigger Tax Bite for Most Under Fiscal Pact

Not Much Comment: By Bob L. But here you go.
01-02-2013

416998_10151521612634008_801950593_n

You can not say much, except, can you under stand the double talk, the ARTICLE SAYS IT ALL.

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Bigger Tax Bite for Most Under Fiscal Pact

New York Times
By BINYAMIN APPELBAUM and CATHERINE RAMPELL | New York Times
01-02-2013

WASHINGTON — Only the most affluent American households will pay higher income taxes this year under the terms of a deal that passed Congress on Tuesday, but most households will face higher payroll taxes because the deal does not extend a two-year-old tax break.

The legislation, which was forged in the Senate and overcame resistance in the House late Tuesday will grant most Americans an instant reversal of the income tax increases that took effect with the arrival of the new year. Only about 0.7 percent of households will be subject to an income tax increase this year, according to the Tax Policy Center, a nonpartisan research group in Washington. The increases will apply almost exclusively to households making at least half a million dollars, the center estimated in an analysis published Tuesday.

But lawmakers’ decision not to reverse a scheduled increase in the payroll tax that finances Social Security, while widely expected, still means that about 77 percent of households will pay a larger share of income to the federal government this year, according to the center’s analysis.

The tax this year will increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.

Indeed, for most lower- and middle-income households, the payroll tax increase will most likely equal or exceed the value of the income tax savings. A household earning $50,000 in 2013, roughly the national median, will avoid paying about $1,000 more in income taxes — but pay about $1,000 more in payroll taxes.

Sabrina Garcia, a 35-year-old accounting assistant from Quincy, Mass., who together with her husband made about $102,000 last year, said the payroll tax increase equated to “about $200 a month for my family.”

“That’s a lot of money for us,” Ms. Garcia said. “It means we will have to cut back.” She said in an e-mail exchange that she will most likely will postpone buying a new computer. “And forget about being able to save money,” she added.

The deal will impose larger tax increases on those who make the most. It will raise taxes in two ways: by restoring limits on the amount of income affluent Americans can shelter from federal taxation, and by returning to a top marginal tax rate of 39.6 percent. The current rate is 35 percent.

For married couples filing jointly, the deduction limits apply to income above $300,000, while the top tax rate kicks in above $450,000. But both numbers are somewhat misleading, because “income” in this context is a technical term, referring only to the portion of income subject to taxation after exemptions and deductions.

Few households with actual incomes of less than half a million dollars will face a tax increase. The Tax Policy Center calculated that less than 5 percent of families earning $200,000 to $500,000 will actually pay more.

The size of those increases will be much smaller than President Obama originally proposed. The net effect, according to the center’s estimates, is that the top 1 percent of households will see an average income tax increase this year of $62,000 rather than $94,000. “The high-income people really are doing very well in this compared to what the president wanted to do,” said Roberton Williams, a senior fellow at the Tax Policy Center.

The deal passed by the Senate and the House will impose fewer limits on deductions than the White House plan. It will also tax income from dividends at a flat rate of 20 percent, rather than the same marginal rate as earned income. And there is another important point, often misunderstood: Affluent households will pay the new 39.6 percent rate only on income above $450,000. They and everyone else will still will pay lower rates on income below that threshold.

Households making $500,000 to $1 million will pay an additional $6,700 in taxes on average. Those making more than $1 million will pay an additional $123,000 on average.

Changes in the estate tax will also benefit affluent families. The tax will not apply to the first $5 million of an inheritance, extending the current exclusion rather than reverting to the $3.5 million threshold that President Obama initially favored. However, wealth above that amount will be taxed at a rate of 40 percent rather than the previous rate of 35 percent.

The Obama administration did win a five-year extension of tax breaks for lower-income families, including the child tax credit and earned-income tax credit. Those credits eliminate income tax liability for many lower-income families. In many cases, the government actually makes a direct payment to the family to help offset the burden of payroll taxation — up to $1,000 a child under the child credit and up to $5,900 total under the earned income credit.

The deal will also restore unemployment benefits for about two million Americans. People who can’t find work, and have already received government checks for the standard period of 26 weeks, have been able to stay on the rolls for up to an additional 47 weeks. But financing for that program, which is aimed at the states with the highest unemployment rates, expired Saturday. Under the terms of the deal, people who are eligible will receive any missed benefits retroactively.

The deal also includes new rules for the alternative minimum tax, which threatened this year to impose higher taxes on roughly 30 million households. The tax was created in the 1960s to set a lower limit on the taxes paid by the most affluent households, but the eligibility threshold was not indexed to inflation, so it theoretically encompasses a larger share of households with each passing year. Congress has repeatedly passed short-term increases in the threshold; the deal will make those increases automatic, obviating the annual ritual.

That is small consolation for middle-income Americans like Joe Interlandi, 61, a long-haul trucker who on Tuesday was driving a load of tomatoes from Florida to Los Angeles.

Mr. Interlandi, writing from a rest stop, said he understood the need for higher taxes. He will rather pay more now than impose higher taxes on his children and grandchildren, he said.

But Mr. Interlandi, who estimated that he worked 100 hours many weeks, added that the payroll tax increase still meant he will need to spend even more time on the road. Describing things he will have to cut back on, he wrote, “Family outings like vacations, and time together.”

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An average of $1,000 more for a household at the national median income.

Categories: America, Democrats, government, Jobs, money, Obama, people, politics, Profilling Rich From Poor, Republicans, taxes, unemployed, White House | Tags: , , , , , | Leave a comment

Could this be true

Comment By Bob L.
12-01-2012

I was just watching a program that made the comment that People that don’t have, give more of their time than people who have.

People who have, could care less, the only person that they care about is themselves, this article is a good example of it, the same thing as these people who are pushing for global warming carbon tax, by taxing these companies these people pushing for it will raise taxes on every one while thy profit from it, and this is why they don’t want to lose their advantage to write of their capital gains and would rather go for a tax increase.

But this is true to the bad economy today, more money goes to Top Executives in many ways, and that is why Companies go under every year, it is not the worker it is Government Regulations,  Top Executives, and Board of Directors who are in to protecting rich stock holders than the business.  Hostess seeks sweet bonus deal for top executives (nbcnews.com) Hostess Asks Judge To Approve Executive Bonuses (newyork.cbslocal.com) this shows who is protected when it comes to pay.

And this comes with what Obama is telling Americans, he is spreading the wealth, but what he failed to say, it is coming out of the Middle and Poor class workers pockets.

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Bankrupt Hostess to Give Execs Bonuses

By ANTHONY CASTELLANO | Good Morning America
Fri, Nov 30, 2012

A federal bankruptcy judge has approved bonuses for executives of Hostess, the maker of Twinkies, who stay on as the company is broken up and sold off.

On Thursday, as part of a plan to liquidate the company and lay off 18,000 workers, a federal judge in White Plains, N.Y., approved paying 19 Hostess executives bonuses totaling $1.8 million. Hostess has said it has interest from at least 110 firms who want to buy pieces of the operation.

The decision comes as the company, known for its iconic snack cakes like Ho Hos and Ding Dongs, says it doesn’t have enough cash on hand to pay retirement benefits to some former employees.

The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year, according to The Associated Press. Rayburn is being paid $125,000 a month.

Former employees are outraged over the bonuses handed out to high ups.

“Anybody’s got a reason to be upset who lost their job if there handing out large amounts of money,” Paul Carroll told ABC News.

In a statement overnight, Hostess said the bonuses are designed to keep top brass from leaving before winding down what’s left of the company “quickly and cost-effectively.”

“I was qualified to draw my pension, with no notice I lost about 70 or 75 percent of it I didn’t work 34 years to lose it,” Carroll said.

Hostess was given interim approval for its wind-down last week, which gave the company the legal protection to immediately fire 15,000 union workers. Hostess said last week it will retain about 3,200 employees “to assist with the initial phase of the wind-down,” which is expected to last about a year.

The company began facing troubles a few years ago as pension costs rose and health-conscious consumers stopped buying products.

A contentious battle began with Hostess asking its workers to take a smaller paycheck to keep the company open for business.

The bakers union went on strike Nov. 9, when the company imposed a contract that would cut workers’ wages by 8 percent. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) said the contract would also cut benefits by 27 to 32 percent.

Hostess, which is privately owned by investment firms, has struggled in recent years with two bankruptcy filings. The company said it “has done everything in its power to pursue a reorganization of its business as a going concern, including spending the better part of 18 months negotiating with its key constituents to obtain a consensual agreement.”

With Hostess out of business that means the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores throughout the United States, the company said.

ABC News’ Jeanette Torres and Susana Kim contributed to this report.

 

 

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