Tax Experts I Want To Meet

 

I have been watching, with some interest, the way some people view the tax situation in the U.S. and how to deal with it.

I want to meet the fiscal financial experts the Republicans are using for advice! If they can do for me what they tell the GOP they can do for the government, I want in!

I am very interested to know how you reduce the income of the government by keeping taxes low for the very wealthy, such as Donald Trump, Paris Hilton, Dick Cheney, and a very select few others, and still find the money to pay off the national deficit.Very interested indeed if those same tax specialists can also show how this can be done with no tax increase on anyone else too. Totally amazing!

To put this is simpler terms, I will use an ordinary person.

Jack is paid $1000 per month, his taxes are, say, $200, so his take-home pay is $800. Now, the GOP have found a way to pay Jack less, $950, and take less tax, $180, and somehow Jack is supposed to be able to pay his debt bill of $1000 without any problem. I want in! Earn less, pay less tax, and pay off your long-term debt with more money! Yeah! Introduce me to those specialists any place, any time!

So, the GOP want all this hinged on tax breaks for the wealthy, and those hinges are things like giving the people who RAN to a disaster called 9/11, risked THEIR lives, and now face some very nasty health problems, plus, the people who lost all those jobs when the economy went downhill faster than any Olympic skier will have to wait until the rich get a tax break. Those are enormously expensive and very nasty hinges! The unemployed will find their payments held hostage to Paris Hilton, Donald Trump, Dick Cheney, and all those CEO’s of banks, corporations and other wealthy patrons.

Now, one point here, those very wealthy people do have tax specialists, so the tax write-offs, the means to pay less every year for each dollar of income is much less than I pay. Yes, they already have means to pay less, even if they would be paying the tax without the breaks. I have one family member who makes around 7 times what a senior in my family makes, and the senior is paying her taxes quarterly, while the other member is paying close to zero because of the write-offs. This is common as the grass on the prairies.

The reasoning is making me wonder where I managed to miss something. UNLESS the wealthy get a temporary or even permanent tax break, then those who are literally suffering cannot get anything to help them out.

As for the taxes themselves, the math here is very, VERY interesting.

The country is like any household, it needs money to pay bills. So, the country collects taxes to do that. What I see the GOP advice saying is this. Reduce the income of the government (the national household), make sure the wealthy, plus make sure seniors who need the money, people who are unemployed with children at home, and all those young men and women just out of college or university who have tuition bills wait until the income to the government is reduced. Now, I have lived a while, so I know that when my income gets reduced, I cannot pay bills that are on the increase.

Apparently the GOP have found a way to do just that! Reduce the taxes, which in turn reduces the income, and somehow pay off the deficit bills which are rising. Yes! I want to meet those people who have figure out how to do that! You betcha!

So You Want to Renegotiate? Banks Hands May Be Tied.

There is a very clever hidden problem with trying to get banks and other financial agencies to renegotiate the debts for homes, businesses, and other borrowers. Behind the mortgage contracts, behind the lines of credit, and behind a lot of other debts there are contracts that are seldom revealed.

Why? Simple. The contract holders hidden behind these are BETTING on mortgages going into default, lines of credit and other loans also going into default, even the banks are being bet on to fail. Sound crazy? Crazy like a fox in the henhouse!

Take for example a simple mortgage on a house worth, say $200,000 and that mortgage is under water. Then the bank has separated itself from the mortgage by a contract to someone else, and that entity has use Credit Default Swaps to ensure they get something. The contract between the entity and the bank binds up any change in the mortgage, because the entity holding the contract WANT to see you lose, want to see the bank lose! That is where the entity makes more money from the default.

This same process is done with lines of credit for business, using the material wealth of the company for collateral.

Unless and until the entities who have these Credit Default Swaps are either put behind bars, investigated for forcing you and the banks to maintain a very unhealthy situation so the entity makes money, or the CDS contracts themselves are judged to be a hindrance to both you and the banks in renegotiations by the courts, you and the banks are going to stay in trouble.

Perhaps the smartest move here is to hire a lawyer, and take this to a court, using warrants to find out who holds the banks hostage to contracts like this. Unless and until the banks can get themselves out of these contracts by either using law or by the Federal Government outlawing Credit Default Swaps entirely, the economy cannot reasonably regain any stability.

When anyone bets on failure, and makes millions from the economic failure of banks, ordinary families, and businesses, then the whole of society has a huge problem.

The time has come to uncover these entities, reveal just how much damage has been created, and publish the terms of these very nasty contracts. The time is long overdue to find the roots of the problem and investigate just how much power some of the entities have over everyday lives.

So, if anyone is wondering why the banks are sweating and making things tough for renegotiation, then perhaps look behind the banks to the contracts betting on YOU going under, along with your banker, and the entity will be taking the money to another bank or hiding it for future abuse of others.

Credit Default Swaps took down Merrill Lynch, put many banks into such a mess they will take years, if they even survive, to get back on solid ground. My belief here is that, even now, someone is putting out Credit Default Swaps on the banks that do exist, the businesses, and even some of the major corporations like General Motors, Chrysler, and the casinos owned by Donald Trump.

Outlaw the damn things, now!

Credit Default Swaps are Insurance without Regulation, click here for fuller information