The top employees have received 165 million in bonuses from the company and it seems as though everyone is outraged, that is if you listen to the news.
The House, mostly Democrats have passed a bill to tax the bonuses at 90%, effectively nulling the payouts. Many of our elected officials have been on TV talking about how terrible the bonuses are and that it is a poor use of taxpayer money. The government has given AIG 170 Billion in funds to help keep them from going under.
But the truth is that Congress passed the bill that specifically excluded the provision from the TARP program that would have prevented the payout of bonuses. Chris Dodd pushed off the change onto the Obama administration, the Treasury said it didn't know, and no one wants to take the blame.
Here is my problem with the efforts of Congress. To create tax law in just hours, that penalizes not millions or even thousands, not a class, sex, age or occupation, that is un American. Not to mention it must be unconstitutional.
We will see if the Senate takes the bills and cans it. But it isn't right to use tax policy for short term political cover.
And this was supposed to be Change?
With 15+ years in the business, licensed with the North Carolina Real Estate Commission and the North Carolina General Contracting Board. Certified Mortgage Consultant, E-Pro. We provide the most comprehensive service set in the industry. We can help with selling your current property, finding the new one, or build your dream home. You save with each service you use, it reduces stress in a very stressful situation and our satisfaction guarantee is second to none.
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Relay for Life Spaghetti lunch. This event will take place at Southern Community Bank & Trust on Friday, March 20, 2009 from 11:00 a.m. - 2:00 p.m. The cost is $6.00 per plate which includes spaghetti, salad, bread and a drink. Dine in or take out and delivery is available upon request. If you would like to have your lunch delivered please call on Wednesday, March 18 to pre-order. Any questions, please contact Southern Community Bank at (336) 679-4121. All proceeds will benefit Relay for Life.
Why don't we blame our government for what it does? Anyone that looks at the problems we are facing in America can look to our government as part if not all of the problem. Let's take healthcare. The federal government is the largest purchaser of health care in America. Clearly it is big enough to reduce the costs that taxpayers carry each year in the federal budget for Medicare and Medicaid. But it also provides billions of dollars each year to hospitals, universities, etc. to fund research. Of course that research is then patented and taken by the various entities and sold back to the taxpayer as high priced drugs and procedures. We pay more than once for the same thing because it goes through the government first. Next, education. We have the highest per capita cost for education in America than any other country and it is never enough. New buildings replace old ones, more employees and certainly, more health care and retirement costs that add up and become a bigger piece of the pie each year. (See auto industry for same problems) All this and a 25% dropout rate, and student rankings failing across the board when compared to other countries. How about HUD and other home ownership entities like Fannie Mae and Freddie Mac. Let me ask a simple question. Should you pay for someone else's rent or mortgage payment? I bet 100 percent would say no, but for 30 or more years the government has given tax dollars to a number of HUD initiatives that do exactly that. Section 8 housing and other programs like it basically give free or subsidized rent to those that qualify. Go back to Education- most if not all of those that qualify have dropped out of school, had children they cannot afford and then qualify for free housing, health care, utility subsidies lunch programs, and much more. In most US cities the percentage of citizens in public housing is between 10 and 15 percent.
How about the SEC? It investigated Madoff a number of times and found nothing wrong. It didn't stop products being brought to market that now make up the toxic assets you hear so much about. It didn't do it job to protect the citizens from the fall out of the dot com bubble and now this. We have laws, enforce them!
The Federal Reserve regulates banks. It didn't require banks to keep the exotic credit default swaps and other items on their books. So in essence, the banks had two sets of books. Sounds like fraud to me. It they didn't like them, maybe they knew something was wrong with them.
We can't keep a single illegal alien from coming over our border, but we have a new department in our government, Homeland Security that has a bloated budget and not very good results. Add FEMA to the list too.
Finally, look at Congress and our past and and present Presidents. They spend while we starve. Congress just passed a pay raise. It has it's own health care system, retirement plan and all the perks. We don't and they have the gall to question bank bonuses?
Decide for yourself if you agree. Just hold your elected officials accountable for their actions.
With 15+ years in the business, licensed with the North Carolina Real Estate Commission and the North Carolina General Contracting Board. Certified Mortgage Consultant, E-Pro. We provide the most comprehensive service set in the industry. We can help with selling your current property, finding the new one, or build your dream home. You save with each service you use, it reduces stress in a very stressful situation and our satisfaction guarantee is second to none.
Link to my sites!
Yadkin County Real Estate, North Carolina Real Estate
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Barack Obama signed the 410 billion dollar omnibus spending bill today amid criticism over earmarks, sounding like a former President in mincing words.
In his campaign, Obama promised to go line by line on every bill and eluded to removing them. The campaign promise went by the wayside quickly although he did state spending needed tighter restraint and listed some guidelines to do it.
Obama was accused of hypocrisy, when he said that he only promised to curb, not eliminate them.
He also issued a signing statement, saying the bill has potentially constitutional problems and he claimed the right to ignore provisions in the bill if he wanted to. During the campaign, he criticized Bush for the very same thing.
Part of the signing statement included
Negotiations with foreign governments
Limits on using U.S. troops in U.N. missions
Protections for government whistleblowers
Congressional claim of authority over the spending of money already approved by Congress
Congressional demands that the administration submit budget requests in certain forms.
Of course other presidents have said one thing and then did something different. But Obama campaigned on Change and so far it looks like business as usual in Washington.
With 15+ years in the business, licensed with the North Carolina Real Estate Commission and the North Carolina General Contracting Board. Certified Mortgage Consultant, E-Pro. We provide the most comprehensive service set in the industry. We can help with selling your current property, finding the new one, or build your dream home. You save with each service you use, it reduces stress in a very stressful situation and our satisfaction guarantee is second to none.
Link to my sites!
Yadkin County Real Estate, North Carolina Real Estate
For New Construction and Remodels
News, Events, Classifieds and more
Yadkin County Public Library News
The Yadkin County Public Library will be hosting an author booksigning on Friday, March 20, 2009 from 12:00 p.m. - 1:00 p.m.. Our guest author is Frances Casstevens, promoting her latest book, "Ghosts of the North Carolina Piedmont: Haunted Houses and Unexplained Events". This collection of local lore includes classic ghost stories that have been passed down for generations as well as personal experiences of the author, her family, friends, and even strangers. This event is free and open to the public. Copies of her book will be available for purchase on this day and proceeds from the sale of the book will benefit the library. Bring a bag lunch and join local author Frances Casstevens as she recounts one spine-tingling tale after another. Bottled water and dessert will be provided.
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