Posted on 05/19/2010 7:04:17 AM PDT by SeekAndFind
as he said last week... starting next year, anyone making $50k/yr or less... won’t have to pay any taxes, and may be eligible for a ‘refund’
which begs the question, how many people will be paying all the taxes?
140m file. of that, 75% make less than $50k/yr.
that means... 35m people will be forced to pay for all the tax obligations for the entire 310m people.
1 in 10 will pay for everything.
if you were wondering... SUCKER is written on your forehead
HOW'D HE DO THAT The court appointed trustee looking into Madoff's assets unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth...... with assets and businesses in 11 places overseas. Madoff traveled overseas frequently, ostensibly to his villa on the Riviera----the suitcases he carried were probably full of cash .....not leisure wear.
Madoff needed lots of sucker money. He was able to dupe people into subsidizing his operations. Madoff was running multiple scams with the knowledge and consent of wealthy businessman:
(1) a Ponzi fraud that made him personally wealthy;
(2) laundering tax-free money for wealthy businessmen with "foundations and charities" posing as philanthropists,
(3) IRS fraud facilitation for wealthy businessmen;
(4) a protection racket (shielding his investors from federal scrutiny);
(5) laundering tax-free money that was donated to Democrat candidates (campaign fraud).
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Obama is pushing trillion-dollar financial policies that exhibit characteristics of Madoff's Ponzi scheme. Obama's many powerful and loyal connections turning a blind eye to runinous financial policies: the MSM, the Obama admin, 57 Democrat US senators, 254 Democrat US Congress members, 28 Democrat state governors, and upwards of 53% of the American electorate.
KEEP IN MIND "Professor" Ohaha knows nothing about high finance---all of the WH financial activities are dictated by his COS Rahm Emanuel----who once worked on Wall Street, was an employee of Goldman Sachs, and who took control of, and dominates, all of the US Treasury activities.
Behind The Real Size of the Wall Street Bailout (Mother Jones reports its $14 trillion)
Mother Jones | Dec. 21, 2009 / FR Posted January 04, 2010 by E. Pluribus Unum
A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street.
The price tag for the Wall Street bailout is often put at $700 billionthe size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:
Treasury Department bailout programs (controlled by Rahm Emanuel)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokeragesas much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].
--SNIP--- long read
Federal Reserve bailout programs
Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.
Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.
Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.
Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.
--SNIP--- long read
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