Posts Tagged ‘Neocommunism’

A renowned environmentalist, known for his advocacy of population reduction as a means of offsetting climate change, has called for “a more authoritative world” where freedom comes second to tackling what he sees as the devastating effects of global warming. Futurist James Lovelock, tells the London Guardian that he believes “It may be necessary to put democracy on hold for a while,” in order to save humanity:

Prison Planet

Advertisements

Americans’ ability to move their money across international borders may become restricted thanks to new legislation passed last week. Buried within Obama’s recent $17.5 billion “H.I.R.E.” Hiring Incentives to Restore Employment Act (H.R. 2487) is a new U.S. Federal restriction on any foreign holdings which exceed the meager amount of $50,000 and leaves the door open for a new 30% transaction or ‘holdings’ tax to be enforced by the IRS. The new law amounts to an unprecedented extension of the US Government into the global sphere:

21st Century Wire

Jamie Dimon, chief executive of JPMorgan Chase, said the bank “fell short” of its earnings potential. Katie Falkenberg for The New York Times

Over all, JPMorgan said 2009 net income rose to $11.7 billion, or $2.26 a share. That compares with a profit of $5.6 billion, or $1.35 a share, during 2008, when panic gripped the industry. Revenue grew to a record $108.6 billion, up 49 percent:

NY Times | Jan 16, 2010

Economists fear recovery will leave more behind than in past recessions

Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.

Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed:

New York Times | Feb 21, 2010

house.gov:

Today, Ranking Member of the House Ways and Means Committee Dave Camp (R-MI) released a letter from the non-partisan Joint Committee on Taxation (JCT) confirming that the failure to comply with the individual mandate to buy health insurance contained in the Pelosi health care bill (H.R. 3962, as amended) could land people in jail.  The JCT letter makes clear that Americans who do not maintain “acceptable health insurance coverage” and who choose not to pay the bill’s new individual mandate tax (generally 2.5% of income), are subject to numerous civil and criminal penalties, including criminal fines of up to $250,000 and imprisonment of up to five years.

In response to the JCT letter, Camp said:  “This is the ultimate example of the Democrats’ command-and-control style of governing – buy what we tell you or go to jail.  It is outrageous and it should be stopped immediately.”

Key excerpts from the JCT letter appear below:

H.R. 3962 provides that an individual (or a husband and wife in the case of a joint return) who does not, at any time during the taxable year, maintain acceptable health insurance coverage for himself or herself and each of his or her qualifying children is subject to an additional tax.” [page 1]

– – – – – – – – – –

If the government determines that the taxpayer’s unpaid tax liability results from willful behavior, the following penalties could apply…” [page 2]

– – – – – – – – – –

Criminal penalties

Prosecution is authorized under the Code for a variety of offenses.  Depending on the level of the noncompliance, the following penalties could apply to an individual:

• Section 7203 – misdemeanor willful failure to pay is punishable by a fine of up to $25,000 and/or imprisonment of up to one year.

• Section 7201 – felony willful evasion is punishable by a fine of up to $250,000 and/or imprisonment of up to five years.” [page 3]

When confronted with this same issue during its consideration of a similar individual mandate tax, the Senate Finance Committee worked on a bipartisan basis to include language in its bill that shielded Americans from civil and criminal penalties.  The Pelosi bill, however, contains no similar language protecting American citizens from civil and criminal tax penalties that could include a $250,000 fine and five years in jail.

“The Senate Finance Committee had the good sense to eliminate the extreme penalty of incarceration.  Speaker Pelosi’s decision to leave in the jail time provision is a threat to every family who cannot afford the $15,000 premium her plan creates.  Fortunately, Republicans have an alternative that will lower health insurance costs without raising taxes or cutting Medicare,” said Camp.

According to the Congressional Budget Office the lowest cost family non-group plan under the Speaker’s bill would cost $15,000 in 2016.

Full Film