OOOHHH-DID YOU HEAR WALL STREET BARFED AND THE GOVERNMENT WIPED IT UP!

Hi,


The new 2200 PAGE bill designed to STOP RISKY BEHAVIOR on Wall St. (CAN WE HAVE ONE TO STOP RISKY BEHAVIOR IN WASHINGTON???????????!!!!!!!!!) got final approval from the Senate last week and was signed by the President. Since it is so long (AGAIN), we are still awaiting the tasty little tidbits that will fall out of the 2200 pages that are not necessarily about Wall St.


The new bill is supposed to bring a new era of consumer protections and focuses on banking restrictions. Of course, we need more Government regulators, a council to lookout for risks in the financial system and guards for consumers in financial transactions. (SARCASM just in case you think I mean it!) More rules, more paper, more frustration, and probably even LESS effectiveness.


So called Shadow financial markets (THOSE WHICH ESCAPED THE OVERSIGHT OF REGULATORS?????????????? I THOUGHT THEY ALL DID) are now under scrutiny and (GET THIS ONE) it gives the GOVERNMENT more Power to break up companies that THEY claim threaten the economy. If you cannot think of a dozen ways that politicians can misuse that one then you are not really trying.

Large, failing companies would be liquidated or broken up with the costs assessed to surviving peers (NOW WHAT EXACTLY THAT MEANS WILL GIVE THE LAWYERS A FEW DAYS IN COURT). Hidden fees and unreasonable terms on loans will be controlled and ability of the borrower to repay will be established. (Believe it or not BANKERS USED to MAKE LOANS based on whether YOU COULD PAY THEM BACK!!!!!!!mind boggling, isn't it??)

Unfortunately, the Federal Reserve gets some more power in all this but with Congressional oversight. (uh huh, uh, huh we've played that game before-FEDS PLAY CONGRESS-FEDS WIN 10-0). PLUEEZE!

Many of the provisions of the new law won't go into effect until 2011 plus since regulators have to write new rules and then figure out how to enforce the new rules. (YOU KNOW THE SAME WAY THEY ENFORCE OUR IMMIGRATION LAWS!!!!!!!)

Among the outcomes of this bill is an immense new power over private business. There will be a DIRECTOR of the INDEPENDENT CONSUMER PROTECTION BUREAU. This agency replaces the protection powers of current banking regulators. The Bureau of Consumer Financial Protection is a big expansion of Government power over individual private businesses and banking, cornerstones of our FREE ECONOMY. This was bitterly fought by large banking institutions and the Chamber of Commerce in a losing battle because it will regulate mortgages, credit cards, and simple payday loans as well as all forms of finance.

At least an exception for businesses considered too small to be a risk to the financial system was included! (WHATEVER MOM AND POP BUSINESSES THAT HAVE BEEN ABLE TO SURVIVE ARE NOT CONSIDERED A THREAT. BRILLIANT!!!!!!)

There will also be a Financial Services Oversight Council composed of the Treasury secretary, the Federal Reserve Chairman and the heads of regulatory agencies that will monitor financial markets and looking for potential threats to the nation's financial system. (GOOD LUCK WITH THAT!PERHAPS THEY'D BETTER START WITH GOVERNMENT SPENDING OF 12.5 TRILLION DOLLARS!!!!!!!!)

The bill does force credit rating firms NOT TO ALLOW RATINGS to issuers of debt-backed securities in public sale documents (like hedge funds of commercial risk) by threat of lawsuit. So that folks will know they are buying SCUM at their own risk.

The President promised that "the American people will never be asked again to foot the bill for Wall Street's mistakes" However, the Government's mistakes with Freddie Mac and Fannie Mae that helped to prime the pump that caused the meltdown of the economy remain on the taxpayer's bill!!!!!!!!!!

Unfortunately traditional banks that held to reasonable rules and good loans will be penalized by the bill as well with additional costs. (EVIDENTLY WE HAVE REACHED A PERIOD IN HISTORY WHEN ONE SHOE FITS ALL AND EXCEPTIONS CANNOT BE CONSIDERED!!!!!!!)

In a nutshell "the bill targets potentially lucrative trading in risky over-the-counter derivatives and aims to force certain banks to end trading for their own profits." Good, but unfortunately, Congress cannot put things in the "nutshell" as 2200 pages attests.

The bill also dictates how much reserve (money held in a sort of escrow) companies now require and establishes resolution funds (held aside) that would cover the costs of their dismantling as a potential threat to our society????????? The government could dismantle even healthy firms they considered a grave risk?????to the economy. WHO ARE THESE GENIUS THAT HAVE STAYED HIDDEN DURING IN ALL THIS TURMOIL??????????IF THEY CAN DETERMINE SUCH THINGS--LET THEM STEP FORWARD AND SPEAK TO US!!!!!!!!!! What potential for abuse.

Federal Deposit Insurance Corp will be allowed to borrow TAXPAYER MONEY from the Treasury temporarily to help cover costs of winding down a large firm and is to be repaid by other large banks over time??????????(Excuse me????IS THIS A 'I AM MY BROTHER'S KEEPER' KIND OF DEBT?I can't explain this one to you) and I cannot not understand why this is not a bail out? What if no one repays???

The Federal Reserve for its obvious lack of oversight in last year's crisis will lose some former power and limits will be set on the Fed's unilateral ability to inject large amounts of money into financial institutions. The bill will also take away the Federal Reserves consumer regulation authority and subject the Federal Reserve to a broad audit by Congress' investigative functionaries. (AH YES--UH HUH)

Shareholders of companies acquire in the bill a NON-BINDING vote on top executive pay. Federal banking regulators have right to approve the compensation practices but not the pay of banks and bank holding companies.

But still no broad controls of Fannie Mae and Freddy Mac??????Are they in there????????Did I miss them???????? BETTER QUESTION: Did CONGRESS MISS THEM??????????

The bill also requires 68 studies of various complex and interconnected fields because of its sweeping reforms. The health bill, we are now finding out, had 40 studies which leaves a lot of information of be presented on both bills. Evidently the thorny issue of Freddie Mac and Fanny Mae fell into this category of STUDY FOR FUTURE REFORM!!!!!!!!! (KICK THE DIRT UNDER THE RUG--MAYBE WE'LL NEVER HAVE TO SWEEP IT UP?????) Cost to taxpayers for all these studies???They must be free because the cost was never figured. (JEEZ)

Some of the studies like MORTGAGE FORECLOSURE SCAMS have no deadline or follow-up rules. Others like FINANCIAL LITERACY AMONG INVESTORS have deadlines but require no action. The study on hedge funds and trades on the various banks' accounts has a deadline and mandate for action. What about the two FF's or is it (F...up again?????)

Regulators have up to two years to write many new required regulations which prolongs uncertainty and there will be a lot of lobbying going on in that time.

Certainly reform of some kind was needed as we've explored in these blogs previously. But why not let WALL STREET CLEAN UP ITS OWN MESS with Government oversight?????Why more new bills costing taxpayers "mucho dinero" and more useless agencies?? Why not let Congress take care of the concerns brought on by previous bills that activated things like Fannie Mae and Freddie Mac???????? Because it's the political fodder (the old feed bag) that counts here!!!!!!!!!!!!!!!!Making politicians look good to a public who thinks Big Government is the solution to all of life's problems.

CHEERS, CONNIE

ECONOMIC SLANGWICH FOR YOUR EDIFICATION POST 33

Hi,


We'll do a few definitions again because much of what we need to know about economics requires knowledge of the language. Thanks to a "Journalist's Guide to Economic Terms" on the Internet for some of these.

ACTIVIST FISCAL POLICY: means the use of federal government taxing, spending, and borrowing powers to stimulate economic growth and employment.

ANTITRUST LAWS: used to promote open markets by limiting practices that reduce competition.

AUTOMATIC STABILIZERS: Measures built into the government's budget that cause its spending to increase and tax revenues decrease (LIKE THAT HAPPENS these days???!!!) when the economy goes into slumps, and the expenditures do the opposite in a boom.

BALANCE OF PAYMENTS: a record of all financial transactions between U.S. and rest of world in a year.

CAPITALIST ECONOMY: a market economy that guides choices on production and distribution of goods and usually privately owned productive resources.

CENTRAL BANK INTERVENTION: a central bank is formed to buy U.S. currency and foreign currency to drive it up or down in value and and to sell U.S. currency for foreign currency when desired or needed.

CETA: Comprehensive Employment and Training Act is federally funded local government retraining and employment agency for difficult- to-hire workers.

CPI: Consumer price index of the average price paid for goods and services as measured against the average price paid for the same goods or services in a designated past year by a consumer.

COMMUNIST ECONOMY: an economy totally reliant on a centralized government with no individual input or private capital.

DEFICIT SPENDING: the Government spends more than it receives in taxes (WHAT ELSE IS NEW????).

DISCOUNT RATE: the interest a private bank pays for a loan from the U.S. Federal Reserve System (THAT BIG BANK IN THE SKY).

DISPOSABLE INCOME: the amount the individual has after taxes to pay personal bills. (THE PART THAT GETS DISPOSED OF RAPIDLY)

EXCHANGE RATE: the price of one currency in terms of another. (WHY YOU EXCHANGE YOUR MONEY OR NOT WHEN YOU TRAVEL OVERSEAS)

FEDERAL DEBT: The current TRILLION DOLLARS sum of obligations both past and present minus ANY?????? surpluses.

FISCAL POLICY: Government expenditures, tax and borrowing decisions, affecting the level of national economic activity. (LATELY IT'S BEEN SPINNING LIKE A TOP).

GOVERNMENT BUDGET CONSTRAINT: Total government outlays MUST EQUAL total revenue of taxes and loans. (WHEN YOU LEARN THIS ONE--PLEASE SEND A LETTER TO YOUR CONGRESSMAN SO THAT HE CAN LEARN IT TOO!!!!!!!!!!!

GNP=GROSS NATIONAL PRODUCT: total market value of ALL goods and services produced in the U.S. per year.

IMF: International Monetary Fund is the overseer for the exchange rate system and international monetary relationship.

LIBERTARIANISM: the belief that government's role should be minimum and rarely interfere in the lives of private citizens. (CONSTANT INTERFERENCE IS SOCIALISM AND COMMUNISM AND makes NON-private citizens, Comrade)!!!!!!!!!!

MARKET ECONOMY: a decentralized system where buyers and seller interact. ie: FANNIE MAE AND FREDDY MAC and numerous other government programs changed that definition by the addition of government rules over the years, which changed the MARKET ECONOMY.

All of which helped lead to the current Economic disaster. The 2010 WALL STREET MARKET BILL will also radically change the current market even more. Those in Government, who approve of the new bill failed to understand or own up to their part in the market failure and continue to see " interference rather than ethics" as a cure. We will cover the new bill in future blogs.

We'll do some more definitions in future blogs as well because it's easier to take in a limited quantity of make-over language (CALLED SLANGWICH IN MY BOOK) and explanations.


Cheers, Connie

CAP AND TRADE REQUIRED FOR PRESERVING HONEST POLITICIANS

Hi,


Cap and trade bills are all over the news. Believe me when I say there are no baseball CAPS or sport player TRADES within them. Too bad because they not only contain what they set out to do but lots of sneaky "add taxes" to paragraphs as well.

Like I said before. Stop the Congress from sneaking things into bills that don't belong there. If it's a tax on environment, it's a tax and should be part of a tax bill. BUT THAT WOULD PRODUCE HONEST POLITICIANS and they're becoming so rare that we might need a CAP and TRADE BILL to preserve them.


Cap and trade is called "a market based approach to pollution reductions and environmental protection" (LYING IS A POLLUTION OF THE TRUTH). The CAP is a legal limit and TRADE means that those regulated can buy, sell, or trade one unit of pollution. The theory behind this bill was a good one (I think) but the reality is a nightmare for everyone in their right mind.

Hustle along to that counter and order a unit while it's available!!!!!!!!!!!!

Now if that last means nothing to you, think nothing of it, because all that is needed to know is that THE BILL reduces emissions cost effectively. IT SAYS SO RIGHT THERE!!!!!!

HOW????????????Well, now that's a horse of a different color. To keep big industries GREEN, they are given a pollution limit and then if they go beyond that, they can buy some pollution permits and if they don't actually MAKE ENOUGH POLLUTION to use all their permits, they can sell them to another company and encourage them TO MAKE ENOUGH POLLUTION to use up the permits. And this reduces Pollution?????????????


DON'T YOU JUST LOVE THE WAY OUR LAWMAKER'S MINDS WORK. College has helped our intellectuals to find complicated ways to say NO or YES to any subject. Also this will supposedly keep our country from being dependant on foreign energy sources in the future. You don't understand that either. Think nothing of it; it means relatively nothing either.

You see if it is convoluted and confusing, you might not notice that it is actually a TAX BILL that is not called a tax bill that taxes everyone including Mr. John Q. Public. Of course, the Politicos are doing something GOOD (ALWAYS LOOK UNDER THE BED WHEN A POLITICO TELLS YOU THIS) by reducing emissions!!!!!!!!!!!!

But we just saw that the Politcos are SELLING POLLUTION to businesses by not allowing them to produce POLLUTION without permits. This will naturally raise the consumer's prices but what the hay, we'll all be poor soon anyway and won't be able to afford whatever we thought we needed.

As far as direct taxes on the citizenry, you only have to pay those if you use energy like gasoline, electricity for cooling or heating, or hot water without bringing your energy conservation up to code. The cost for the individual is now currently conservatively estimated TO BE FROM $680. to over $6000. for bringing a home only to current standards. If you own an older car or a gas guzzler, enjoy the new costs. Actually just like the health bill our knowledgeable CONGRESS has no idea what A LOAF OF BREAD costs these days, LET ALONE WHAT THE RESULTS OF THEIR LEGISLATION WILL COST!!!!!!!!!!!

Let's face it, this is an ECONOMY WIDE TAX faking it as a SAVE THE ENVIRONMENT plan that is being billed as the " best political money maker since the income tax to redistribute wealth and income". Except the way it is planned, it takes FROM THE MIDDLE class; GIVES to the "GREEN TECH" investors who can manage the Politicians. Some politicians have suggested that this may well bring in enough revenue for all the social legislation which is CERTAINLY GOOD TO HEAR since we are going to need it!!!!!!!!!!!!

You'll find an email site at the bottom of this blog on which you can read about bringing your home up to environmental standards and other parts of the current legislation.

Now I want to make my position perfectly clear. I worked for the environment in my thirties along with friends who became prominent in the field. I had a relative employed to preserve the environment and we often worked together. I probably have done quietly more than most folks to preserve what I love most and am still doing my part today with lots of greenery to help create good air, a vegetable garden, driving my car very little, all to help preserve resources as well as utilizing all I learned back then. BUT AT NO TIME DID I envision it becoming a political football to punish our citizens.

http://www.nachi.org/forum/f14/cap-and-trade-license-required-your-home-44750/

There are a lot of sites covering this but most of the American public don't have a clue about what a CAP AND TRADE bill entails. Pass the word along. It may be too late to stop the Senate approval but it is still possible. Where was the tea party on this one??????????????



cheers, Connie

IMMIGRATION ECONOMICS-BROTHER CAN YOU SPARE A GREEN CARD?????? POST 30

Hello,

Yep, ECONOMICS is drastically affected by immigration. It all comes out of the collective pocket of the tax payers whichever way it goes. It also impacts SOCIAL and POLITICAL ASPECTS.

Controversy results from ethnicity, benefits, jobs, settlement patterns, upward social mobility, crime, and voting patterns (which accrue to the supposed "savior").

HOWEVER, THE U.S.ACCEPTS more legal immigrants as PERMANENT residents than ALL other COUNTRIES in the WORLD "COMBINED"!!!!!!!!!! Selfish??????I THINK NOT!!!!!!!! And we DEPORT Them; not render the SEVERE punishment dealt out by many nations.

In 2008 we naturalized (made into U.S. CITIZENS) over ONE MILLION immigrants, most from Mexico, India and the Philippines. REMEMBER MORE THAN ALL THE COUNTRIES IN THE EAST AND WEST COMBINED!!!!!We live up to our American Statue of Liberty LEGALLY.

OUR BASIC NOTIONS "OF FAIRNESS" ARE BASED ON "LEGALITY" Mr. President!!!!!!!!!!

Ideally, Immigration law is supposed to determine when a person is an alien, how he/she gains citizenship and residence in the States. It lays out the attainment of the full rights of citizenship after five years of residency and serves as a protector of the nation's borders. Congress has full authority and Presidential powers are on refugee policy ONLY. Refugees are determined by the threat of hostile action in their native land.

Currently, Visas (not the credit card) determine immigrant status. Visas for IMMIGRANTS (allow work, permanent stay and eventually application for citizenship within quotas) and non-immigrant visas (for tourists, mostly do not allow work but can be renewed repeatedly.)

However, most of us don't even understand what we mean by the act of immigration. It comes in two forms, legal and illegal. Everyone understands when someone slips over the border illegally but not necessarily what is meant by legal immigration.

And why do we need laws for people to come into our country at all? Legal immigration is guided by two principles. The amount of space (or territory) available in a nation (WE HAVE LESS AND LESS) and the economic needs of the nation and that includes workers in specific areas of employment including employment that is no longer desired to be filled by the current citizens of a nation.

Our first policies began in 1790 with the NATURALIZATION ACT for whites only that was then AMENDED to include EVERYONE in 1875 when the U.S. Supreme Court designated the regulation of immigration through the federal government and not individual states. The fourteenth amendment in 1868 allowed children born in the U.S. immediate citizenship. They created the Immigration service in 1891. All race-based quotas were finally removed in 1952 in the McCARRAN-WALTER ACT.

Immigration leveled off until after WW1 THEN it increased substantially. In 1921, the Congress started the NATIONAL ORIGINS QUOTA ACT which limited legal immigration to 3% of the current ethnic makeup in the US which was lowered to 2% three years later and the Congress established the U.S. Border Patrol to enforce immigration laws. The purpose of SETING A QUOTA was to keep immigration levels well mixed and to control the cost of absorbing new immigrants.

FRANKLY, ONE OF THE FEW TIMES CONGRESS HAD MANAGED TO PASS A SENSIBLE LAW ON A CONTROVERSIAL SUBJECT!!!!!!

But, of course, when something is TOO GOOD, our Congress can't leave it alone. Instead of just changing the percentages, RAISING OR LOWERING them as the case might be; THEY MADE A NEW LAW AND COMBINED Immigration law WITH a NATIONALITY ACT SO THAT it covered the seasonal workers needed by agriculture. They then FORMED AN ALLIANCE with Mexico known as the BRACERO PROGRAM.

The Bracero Program was a WW2 program that brought in 350,000 good Mexican farm laborers to enrich America's farm land for a pittance yet more than they made at home. The Mexicans found most Americans living better than their families. When the program ran out, they told their children and grandchildren about the "land of milk and honey over the border" which in turn encouraged today's problems of illegal entry on the MEXICAN border for ARIZONA. THE DAMN CHICKENS ALWAYS COME HOME TO ROOST!!!!!!!!!

Naturally, once WOUNDED, we need to SHOOT more holes in the law and in 1965 Congress rebuilt the NATIONAL ORIGINS ACT which gave immigration privileges to families so they could be reunited in the U.S. and proponents claimed it would increase the number of skilled workers. It didn't. WHY NOT EXPAND THE ORIGINAL QUOTA?????????WHAT'S THAT YOU SAY????? THAT OLD LAW ???? THAT NO ONE PAYS ANY ATTENTION TO EXCEPT WHEN IT'S CONVENIENT!!!!!!!!!!!!

When the refugee problem arose did we look back to the GOOD OLD LAW OF QUOTAS????????Hell no, we passed a new law called the REFUGEE ACT OF 1980 and then finally thought about allowing a quota increase, however unbalanced. The only time we had previously referred to the original law was for keeping limits as political fodder and enforcement.
Legal immigration was FINALLY raised from 1970s through the 1990s with limits in the 80's and 90s set at 700,000-900,000 annually and through 2000 we took in 16.7 MILLION immigrants. It's not like we were denying many the American Dream!!!!!!!!!! With increased numbers from the Caribbean and Latin America and some few from Asia, we also granted amnesty for some illegals, created a system for refugees, and have finally continued to raise some quotas (not in a balanced pattern) based on need.

This is an abbreviated history of immigration law and if you need more please Google Legal immigration but is designed to give some insight into legal immigration. I may come back to this again if I see the need.

Of course, since 9/11 there has been a tightening of rules and the HOMELAND SECURITY ACT in 2002 was supposed to provide us with a sense of calm but with the "loosey-goosey" state of our borders, one wonders what good most of the current legislation can do?????????

I firmly believe NEW LEGISLATION is needed. (DID I SAY THAT?????????) to allow and fund STATES on the borders to enforce legal immigration not with guns but with border posts for entering the country legally (with the agreement of the adjoining country.) Perhaps if we offer a legal possibility to aliens, it will end the abuse.

Our borders have border patrol posts for allowing legal entry and exit. How hard could it be to set up immigration posts for allowing a legal entry as an immigrant. It's better than having them scurry across as an illegal alien both for them and for us. (SINCE IT'S THE GOVERNMENT PROBABLY MORE DIFFICULT THAN I VISUALIZE).

Although it might also require more consulates in Mexico for the Mexican border and in other Latin American countries as well as in Asia, Europe, and the middle East to process applications quickly and easily before the actual crossing at a border post; it would be well worth the additional expense to return immigration lawfulness to our land

Computers allow instant information on quotas and immigration status. Provide a way to keep the quotas fluid and flexible without abuse. I don't believe many people want to run the risk of illegality if they have a legal choice. That way our borders offer freedom and our nation which is a NATION OF LAWS can once again start to fulfill its promise.

Cheers, Connie

CHANGE?-BELIEVE IT! HIGHER TAXES ACROSS THE BOARD POST 29.

Hi,

NOT!!! Not the happiest blog I've ever written since it's about the new taxes coming in 2011 but since they are part of economics, here's the bad news.

All the tax cuts enacted in 2001 and 2003 will end, ADDING THOSE TAX BURDENS. Personal income tax will go up from 35 to 39.6% for personal taxes and small business taxes.

The lowest bracket goes from (10% to 15%); (25% to 28%); (28% to 31%); (33% to 36%); and (35% to 39.6%).

There's a "cute" or "acute" tax hidden in the health bill for 2013--an ALMOST 4% FEDERAL SALES TAX ON YOUR HOME SALE!!!!!!!!!!! IN THE HEATH BILL FOR PETE'S SAKE (sorry, that's For OBAMA's sake)!!!!!!!!!!

We have to do something about lawmakers' additions to bills!!!! The additions are not POLITICALLY CORRECT!!!! THIS PORK BARREL METHOD HAS GONE ON TOO LONG!!!Many bills are stuffed with Congress members' PORK FAT for their states. It was stopped in the Florida legislature and can be stopped in the Federal Government. NO ADDITIONS TO BILLS OUTSIDE THE MAIN TOPIC!!! Taxation or finances ONLY in a financial bill NOT included in the "CARROTS FOR CLUBS" bill. No, I don't think there's a bill like "Carrots for Clubs" but what the "Hay", Congress has done worse.

Following are more 2011 personal income tax increases: The child tax credit will be cut in half from $1000. to $500. YOU CAN STOP HAVING MORE KIDS NOW!

The DEATH TAX RETURNS. 2011 SEES A 55% inheritance tax on estates over one million. In our inflated economy $1M is not hard to hit. 2 homes and a retirement account from the deceased could do it.

Twenty new or higher taxes go into effect on 2011: The MEDICINE CABINET TAX-no more HSA (Health Savings Accounts); FSA (Flexible Spending Accounts):HRA (Health Reimbursement Accounts) no more pre-tax dollars for non-prescription (over the counter meds) except insulin (which now is only by prescription as far as I know).

THE SPECIAL NEEDS KIDS TAX: FSA (Flexible Spending Accounts) are limited to $2500., down from no limits. This includes SPECIAL NEEDS CHILDREN. Thanks for the love and caring portions of your agenda "Democratic Congress"and Obama!!!!!!!!!!

The HSA withdrawal tax hike goes from 10% to 20%, losing the advantage over IRAs.
But IRAs no longer can deduct $100,000. given to their IRA or a charity. There will no longer be the benefit of an "annual minimum distribution". The Socialists want to take care of you--not for you to take care of yourself.

The AMT (Alternative Minimum Tax) which was used to ensnare the Richy-rich was not indexed by Congress so it now includes 28.5 million people instead of 4 million. HAVE YOU JOINED THE RANKS OF THE RICHY-RICH AS A MUDDILY-MIDDLE?????CONGRATS FROM THE SOCIALISTS OF AMERICA!!!!!!These AMT folks must calculate their taxes twice(?????) and pay at the higher level.

Tax benefits for education and teaching reduced. Teachers will not be able to deduct classroom expenses.(They can dip into their already poor pockets some more) Deduction for tuition and fees not allowed. Coverdell Education Savings Accounts will be cut. Employer provided education assistance not allowed. Student loan interest deduction not allowed for most families.

Small business will lose 50% of business "expensing" (A TAX WORD? NOT MINE) including a drop from $250,000. depreciation to $25,000. Larger businesses can "expense" half their purchases and all of it must be depreciated in that one year.

BUT THE "POLITICOS" ARE VERY IN FAVOR OF OUR SMALL BUSINESS INDUSTRY???????? so THEY WILL RAISE TAXES ON ALL TYPES OF BUSINESS in 2011 (OF COURSE that means PAY MORE AT THE CASH REGISTER AND AMERICA WILL BUY more GOODS OVERSEAS). Unfortunately all these clever hikes are too many to list. SEE YOUR TAX ACCOUNTANT now to avoid surprises.

AND FOLKS, THIS AIN'T ALL!!!!!!!!!!! Just like the Federal Sales tax law buried in the Health Care bill, our clever politicians have screwed, glued and tattooed us on taxes in so many ways, most of us cannot discover all of them as yet.

There are many measures in the Health Care bill that you need to study if you are planning to take care of your parents and keep them alive (WHICH MAY BE VERY TRICKY SINCE THE OLD ARE UNWELCOME BURDENS ACCORDING TO THE LEFT LEANING ELITE. Never mind the love, wisdom and kindness they may have shown you and everyone else. After all PLANNED OBSOLESCENCE HAS MORE THAN ONE MEANING. No wonder they want 55% of the DEATH TAX!!!!!!!!!!! ANTICIPATION?????????

Our education system which is considered inferior by Socialists has SOMEHOW managed to produce in its "supposedly" ineffective way a WHOLE RAFT (could we put them out to sea???????????) of very clever NUMBER PUNCHERS, who know how to RAISE YOUR TAXES in a way that you hopefully won't notice.

IF YOU WANT TO STAY AHEAD of the gang of HYPOCRITES we now have in Congress and the WHITE HOUSE, you'll have to be ALERT. It's not going to stop. Any group on their HIT LIST which includes just about any group that doesn't fit the Socialist theories of government will be the greatest beneficiaries??????? of their taxation methods.
Good luck. Keep the voter records safe for 2012 or we will be tough OUT of luck!!!!!REMEMBER POLITICS IN CHICAGO CAN BECOME NATION-WIDE!!!!!!!!!

Cheers, Connie