The next disaster: Credit Cards are a ticking time bomb about to self destruct.
Credit cards can be a useful. They can also lead to financial disaster. Before credit cards, people had to save up or borrow money to buy something. Credit cards allow people to buy things with no money. They buy things they cannot afford and cannot pay for.
Credit cards are very profitable for banks, Wall Street and politicians. When you charge an item on your credit card, the bank collects a fee from the vendor. (It is reflected in the cost.) If you don’t pay the full amount you owe, the banks charge you interest which can rapidly go over 25% plus endless fees. People are urged to buy more than they can afford. It is a “sucker game” that pushes people deeper into debt which increases the interest rates and fees they pay. The banks and Wall Street make a lot of money and they in turn, pay the politicians.
Pay the politicians? The banks give millions to everyone in government. (Everyone means Congress, the President, the cabinet, etc.) That enables the banks to tell Congress, regulators, etc. what to do. And … Congress, regulators, etc. do what they are told.
Due to the economic crisis, (which the banks helped cause) a lot of people are defaulting on their credit cards. The potential loss is over 1.5 trillion. The banks and Treasury are worried. Massive credit card defaults will make our economy grind to a halt. The government keeps giving them (the banks) your tax-dollars to make up for any losses.
The government reports that “average” credit card debt is over $10,000. The true number is probably a lot higher ($15-20,000). (No one believes our government any more.) Banks report credit card defaults are accelerating. There is growing fear that a “credit card crisis” is looming.
They (Government, Banks and Credit-card companies.) have a plan to freeze credit cards. Many companies have already lowered credit limits and “shut-down” many cards.
“Freeze credit cards!” What does that mean? It means credit cards will no longer work to buy gas or groceries or a dress or TV. Only debit cards will be accepted.
What happens if they stop honoring credit cards? It means that our economy will grind to a halt. Many people will not be able to buy food, gas, pay bills and provide for basic needs.
There is political “noise” to pressure the banks to stop some of the credit card “scams” and abuses. The banks and Wall Street aren’t worried. They believe the money they give to the politicians will prevent any “meaningful” action. They don’t remember what happened in the 1930s.
What should you do? Advice from Charles (a CACTUS participant): Open an account at a bank where you do not have a credit card. Link a DEBIT CARD to that account. The debit card will work (hopefully).
Where can you get money from? Stop paying your current credit card bills. Send the statement you receive to your Congressperson, Representative, Sec. Treasury, etc. Ask them to pay what you owe. The banks give them money so it would be fair if they paid your bills. Also ask them to give you $1,000,000 as a “retention bonus”. That is what Congress does with you tax dollars.
According to Charles, “hurting” the banks, Wall Street and politicians is OK; because they are greedy immoral liars and they hurt you.
Charles also wants to remind you that nobody forced you or other people to spend foolishly, go into debt and help destroy the future of your children.
You are at fault too!
Bottom line:
Put money in a segregated account and get a DEBIT card.
Stop buying things “on credit”.
Send your bills to Congress and the President. Tell them to stop giving away your money.
Stop buying junk you don’t need.
And … you should blame the politicians and bankers. But also blame yourself for buying things you can’t afford.
Also …. Advice from Mary (Mary works with us): Get a new credit card. Spend as much as you can. Obama and Congress and the Banks and Wall Street urge people to spend money to help the economy.
Then send the bills to Obama and Congress and the Banks and Wall Street.
Do it! People are doing it!
Monday, April 27, 2009
Tuesday, April 21, 2009
Mortgages: What to do?
Once upon a time, a mortgage was a loan made by a bank (or similar institution) for the purchase of a home (or real estate of some sort).
The borrower paid interest to the bank and was required to repay the principal. The bank got the money from investors or depositors. The bank made money because they got a higher rate from the borrower than they paid the investor/depositor.
Example: The mortgage cost the borrower 6% and the bank’s cost is 4%. Profit to the bank is 2%. The bank made sure the borrower made a “down payment” that was high enough to protect against default and that the total of the mortgage plus “down payment” was less than the value of the home. The bank also made sure that the borrower could afford the mortgage payments.
That was changed by our Presidents (mainly Clinton), Congress and regulatory agencies at the urging of political parties, Wall Street, Banks and Special-interest groups. Over-inflated mortgage loans were made to people with no money, no jobs and no hopes of paying. These mortgages were “securitized” and sold to investors, pension plans, etc. who had no idea what they were buying. They (Wall Street) also created "derivatives" which may bankrupt America. The “rules and regulations” to protect the public were removed. This helped to further ignite the real estate bubble and subsequent collapse.
What is happening now?
The same Congress and Politicians and Banks and Wall Street that caused the current disaster are once again in charge. They are giving away billions to the Banks, Wall Street, Foreign Investors, AIG, Goldman Sachs, Hedge Funds, etc.
Our government also is giving money to reduce the amount owed on some mortgages, make mortgage payments for others and pay mortgages off entirely in some cases. Our government will also help you buy a home and get a new mortgage, especially if you cannot afford one or can’t make payments. (?????????)
What does this mean?
It means that if you are one of the less than 50% of Americans who still pay taxes, your money is going to banks, hedge funds, Wall Street, etc. to pay for failed mortgages, toxic derivatives and to pay for other people’s mortgages.
So, what can you do?
According to Martin (a contributor), if your house is worth less than the amount of your mortgage, stop paying. If you continue to pay, you are a moron!
If your home is worth more than the mortgage balance, stop paying. Then, contact the mortgage holder and tell them you want the amount owed to be renegotiated to a lower amount. Send the information to your Senator, Representatives and the White House. They can lower the amounts you owe and the interest rate you pay.
If your mortgage is paid-off, take out a “home equity” loan or refinance. Then don’t make payments. Contact the White House and your Congress-people. They will lower the amount you to less than you borrowed (Nice way to make a quick profit.).
Martin also advises that most mortgages are illegal and/or fraudulent. He suggests that you find out who “owns” or “holds” your mortgage and require documented proof. Until you receive acceptable evidence, don’t make any payments to anyone. The payments may be illegal.
Martin also notes that making mortgage payments aids and abets the pervasive corruption of Government and America’s Financial Institutions. Martin says, “Making mortgage payments is Anti-American and probably racist”.
Bottom line: (According to Martin.) The biggest “financial and mortgage scam” in history is taking place. If you continue to make any mortgage payments, you are NUTS!
Send all bills, collection letters, etc. to your Congressman/woman or to Obama. They have been well paid by the banking institutions, etc. They will take care of it.
Martin says, "If we all stop giving them money, Congress may stop stealing." "Vote with your dollars!"
Actnow98@aol.com
The borrower paid interest to the bank and was required to repay the principal. The bank got the money from investors or depositors. The bank made money because they got a higher rate from the borrower than they paid the investor/depositor.
Example: The mortgage cost the borrower 6% and the bank’s cost is 4%. Profit to the bank is 2%. The bank made sure the borrower made a “down payment” that was high enough to protect against default and that the total of the mortgage plus “down payment” was less than the value of the home. The bank also made sure that the borrower could afford the mortgage payments.
That was changed by our Presidents (mainly Clinton), Congress and regulatory agencies at the urging of political parties, Wall Street, Banks and Special-interest groups. Over-inflated mortgage loans were made to people with no money, no jobs and no hopes of paying. These mortgages were “securitized” and sold to investors, pension plans, etc. who had no idea what they were buying. They (Wall Street) also created "derivatives" which may bankrupt America. The “rules and regulations” to protect the public were removed. This helped to further ignite the real estate bubble and subsequent collapse.
What is happening now?
The same Congress and Politicians and Banks and Wall Street that caused the current disaster are once again in charge. They are giving away billions to the Banks, Wall Street, Foreign Investors, AIG, Goldman Sachs, Hedge Funds, etc.
Our government also is giving money to reduce the amount owed on some mortgages, make mortgage payments for others and pay mortgages off entirely in some cases. Our government will also help you buy a home and get a new mortgage, especially if you cannot afford one or can’t make payments. (?????????)
What does this mean?
It means that if you are one of the less than 50% of Americans who still pay taxes, your money is going to banks, hedge funds, Wall Street, etc. to pay for failed mortgages, toxic derivatives and to pay for other people’s mortgages.
So, what can you do?
According to Martin (a contributor), if your house is worth less than the amount of your mortgage, stop paying. If you continue to pay, you are a moron!
If your home is worth more than the mortgage balance, stop paying. Then, contact the mortgage holder and tell them you want the amount owed to be renegotiated to a lower amount. Send the information to your Senator, Representatives and the White House. They can lower the amounts you owe and the interest rate you pay.
If your mortgage is paid-off, take out a “home equity” loan or refinance. Then don’t make payments. Contact the White House and your Congress-people. They will lower the amount you to less than you borrowed (Nice way to make a quick profit.).
Martin also advises that most mortgages are illegal and/or fraudulent. He suggests that you find out who “owns” or “holds” your mortgage and require documented proof. Until you receive acceptable evidence, don’t make any payments to anyone. The payments may be illegal.
Martin also notes that making mortgage payments aids and abets the pervasive corruption of Government and America’s Financial Institutions. Martin says, “Making mortgage payments is Anti-American and probably racist”.
Bottom line: (According to Martin.) The biggest “financial and mortgage scam” in history is taking place. If you continue to make any mortgage payments, you are NUTS!
Send all bills, collection letters, etc. to your Congressman/woman or to Obama. They have been well paid by the banking institutions, etc. They will take care of it.
Martin says, "If we all stop giving them money, Congress may stop stealing." "Vote with your dollars!"
Actnow98@aol.com
Wednesday, April 15, 2009
Tax time idea
CACTUSA 15 APR
April 9, 2009 Associated Press: THE INFLUENCE GAME: Firms reap seeds of lobbying By JULIE HIRSCHFELD DAVIS
WASHINGTON (AP) — Big companies that spent hundreds of millions lobbying successfully for a tax break enacted in 2004 got a 22,000-percent return on that investment. All told, U.S. companies saved about $100 billion in taxes. 93 firms that spent $282.7 million lobbying on that ultimately saved a total of $62.5 billion through the tax change.
Companies and interest groups spent $3.42 billion lobbying Congress and the federal government in 2008, the last year for which such figures are available, according to the Center for Responsive Politics. That's a 14 percent jump from the previous year. See…. (http://www.opensecrets.org)
What does this mean? It means that if you have a lot of money, you can give money to Congress and Government Officials and they will help you avoid taxes. So, who pays taxes? Do you pay taxes? Why do you pay taxes?
BW (Business Week) 4/13/09: “Toxic taxes” Reports that tax preparation companies, often help people file false tax returns. For an “extra” fee, the tax preparers file false returns. They advise that the chances of “getting caught” is very small and comment that politicians and government officials don’t pay taxes on bribes, kickbacks, campaign donations, perks, etc. A lot of “Tax Preparers” and “tax advisors” are ex-IRS people.
What does this mean? You can pay professionals to help you avoid paying taxes. Do you pay taxes?
There are companies that (They openly advertize on radio, TV, the internet, etc.) will help you to avoid paying taxes, set up “offshore” and “protected” accounts.
For Immediate Release Contact: Leslie K. Paige 202-467-5334
April 14, 2009
Earmarks Rise to $19.6 Billion in CAGW’s 2009 Pig Book
(Washington, D.C.) - Citizens Against Government Waste (CAGW) today released the 2009 Congressional Pig Book, the latest installment in the group’s 19-year exposé of pork-barrel spending. The Pig Book revealed 10,160 earmarks worth $19.6 billion.
“Everyone in Washington has promised a new era of transparency and restraint in earmarks, from President Obama to the leaders of both parties in Congress,” said CAGW President Tom Schatz. “Sadly, the hard numbers from the 2009 appropriations bills tell a different story. The current Democratic congressional majority is following the same trajectory as their Republican predecessors. They came into power promising to cut earmarks, and made a big show of it during their first two years. However, as the 2009 Pig Book amply illustrates, pork-barrel spending is growing fast.”
While the number of specific projects declined by 12.5 percent, from 11,610 in fiscal year 2008 to 10,160 in fiscal year 2009, the total tax dollars spent to fund them increased by 14 percent, from $17.2 billion to $19.6 billion.
Much has been made of reforms that require members of Congress to identify earmarks they request and the intended recipients of earmarked funds, but CAGW uncovered 221 earmarks worth $7.8 billion that were funded in circumvention of Congress’s own transparency rules. These stealth earmarks were particularly prevalent in the 2009 Defense Appropriations Act, which included 142 anonymous earmarks worth $6.4 billion, a staggering 57 percent of the earmarked tax dollars.
The Pig Book Summary profiles the most egregious examples, breaks down pork per capita by state, and presents the annual "Oinker" Awards. All 10,160 projects are listed in a searchable database on CAGW’s website www.cagw.org. Examples of pork in the 2009 Pig Book include:
• $3.8 million for the Old Tiger Stadium Conservancy in Detroit;
• $1.9 million for the Pleasure Beach water taxi service in Connecticut;
• $1.8 million for swine odor and manure management research in Ames, Iowa;
• $380,000 for a recreation and fairgrounds area in Kotzebue, Alaska;
• $143,000 for the Greater New Haven Labor History Association in Connecticut;
• $95,000 for the Canton Symphony Orchestra Association in Ohio; and
• $71,000 for Dance Theater Etcetera in Brooklyn for its Tolerance through Arts initiative.
(Citizens Against Government Waste is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.)
The standard “expense costs” for “earmarks” is between 20-40%. The expense costs include lobbying, campaign contributions, kickbacks, jobs for relatives, cash in “offshore” accounts, etc.
The $19.2 billion earmarks that Congress just passed and signed into law means the each member of Congress and their staff gets between $5-9 million.
Why do you pay taxes?
Some of our coalition members believe that if we all stop paying taxes, it will force Congress and Obama to stop stealing and giving away our money.
We have plans. Send us your ideas. actnow98@aol.com
April 9, 2009 Associated Press: THE INFLUENCE GAME: Firms reap seeds of lobbying By JULIE HIRSCHFELD DAVIS
WASHINGTON (AP) — Big companies that spent hundreds of millions lobbying successfully for a tax break enacted in 2004 got a 22,000-percent return on that investment. All told, U.S. companies saved about $100 billion in taxes. 93 firms that spent $282.7 million lobbying on that ultimately saved a total of $62.5 billion through the tax change.
Companies and interest groups spent $3.42 billion lobbying Congress and the federal government in 2008, the last year for which such figures are available, according to the Center for Responsive Politics. That's a 14 percent jump from the previous year. See…. (http://www.opensecrets.org)
What does this mean? It means that if you have a lot of money, you can give money to Congress and Government Officials and they will help you avoid taxes. So, who pays taxes? Do you pay taxes? Why do you pay taxes?
BW (Business Week) 4/13/09: “Toxic taxes” Reports that tax preparation companies, often help people file false tax returns. For an “extra” fee, the tax preparers file false returns. They advise that the chances of “getting caught” is very small and comment that politicians and government officials don’t pay taxes on bribes, kickbacks, campaign donations, perks, etc. A lot of “Tax Preparers” and “tax advisors” are ex-IRS people.
What does this mean? You can pay professionals to help you avoid paying taxes. Do you pay taxes?
There are companies that (They openly advertize on radio, TV, the internet, etc.) will help you to avoid paying taxes, set up “offshore” and “protected” accounts.
For Immediate Release Contact: Leslie K. Paige 202-467-5334
April 14, 2009
Earmarks Rise to $19.6 Billion in CAGW’s 2009 Pig Book
(Washington, D.C.) - Citizens Against Government Waste (CAGW) today released the 2009 Congressional Pig Book, the latest installment in the group’s 19-year exposé of pork-barrel spending. The Pig Book revealed 10,160 earmarks worth $19.6 billion.
“Everyone in Washington has promised a new era of transparency and restraint in earmarks, from President Obama to the leaders of both parties in Congress,” said CAGW President Tom Schatz. “Sadly, the hard numbers from the 2009 appropriations bills tell a different story. The current Democratic congressional majority is following the same trajectory as their Republican predecessors. They came into power promising to cut earmarks, and made a big show of it during their first two years. However, as the 2009 Pig Book amply illustrates, pork-barrel spending is growing fast.”
While the number of specific projects declined by 12.5 percent, from 11,610 in fiscal year 2008 to 10,160 in fiscal year 2009, the total tax dollars spent to fund them increased by 14 percent, from $17.2 billion to $19.6 billion.
Much has been made of reforms that require members of Congress to identify earmarks they request and the intended recipients of earmarked funds, but CAGW uncovered 221 earmarks worth $7.8 billion that were funded in circumvention of Congress’s own transparency rules. These stealth earmarks were particularly prevalent in the 2009 Defense Appropriations Act, which included 142 anonymous earmarks worth $6.4 billion, a staggering 57 percent of the earmarked tax dollars.
The Pig Book Summary profiles the most egregious examples, breaks down pork per capita by state, and presents the annual "Oinker" Awards. All 10,160 projects are listed in a searchable database on CAGW’s website www.cagw.org. Examples of pork in the 2009 Pig Book include:
• $3.8 million for the Old Tiger Stadium Conservancy in Detroit;
• $1.9 million for the Pleasure Beach water taxi service in Connecticut;
• $1.8 million for swine odor and manure management research in Ames, Iowa;
• $380,000 for a recreation and fairgrounds area in Kotzebue, Alaska;
• $143,000 for the Greater New Haven Labor History Association in Connecticut;
• $95,000 for the Canton Symphony Orchestra Association in Ohio; and
• $71,000 for Dance Theater Etcetera in Brooklyn for its Tolerance through Arts initiative.
(Citizens Against Government Waste is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.)
The standard “expense costs” for “earmarks” is between 20-40%. The expense costs include lobbying, campaign contributions, kickbacks, jobs for relatives, cash in “offshore” accounts, etc.
The $19.2 billion earmarks that Congress just passed and signed into law means the each member of Congress and their staff gets between $5-9 million.
Why do you pay taxes?
Some of our coalition members believe that if we all stop paying taxes, it will force Congress and Obama to stop stealing and giving away our money.
We have plans. Send us your ideas. actnow98@aol.com
Monday, April 6, 2009
Do you pay taxes?
Congress voted a “Budget”, a “bailout”, a “TARP”, a “PIPP” and other bills. They gave away trillions of dollars. They don’t know who gets money, what it was for or who controls the money.
The Government promised “openness” and “full disclosure”. When asked, the Treasury and/or Congress and/or the President don’t know or refuse to give truthful or accurate information.
We do know that “favored” banks, Wall Street Institutions, Lobbyists, Politicians, Washington Law Firms, etc. got hundreds of millions and billions. Goldman Sachs got 12.9 billion.
Congress and other elected and appointed government employees, their relatives and friends and campaign contributors get (average) 20-40% of the total of every “bill” passed by Congress for expenses, “fees”, “campaign donations”, “kickbacks”, “consulting fees”, “speaking fees”, cash, lobbying fees, etc. The budget just passed was for over $3.55 trillion. (That’s a lot of money!)
Q. Where does the money come from?
A: Three sources: 1 - The American Taxpayer. 2 - Borrow from the world. 3 - Print “magic” money.
Do you pay taxes? (Estimates are that the majority of Americans no longer file returns or pay what they owe. This includes many in Congress as well as all levels of Government.)
If you pay taxes, your money goes for million dollar bonuses for AIG, Goldman Sachs, lobbyists, private jets, etc. The top executives at FNMA and Freddie Mac lost money in their retirement plans, so they got “retention bonuses” amounting to $210 million to make up for their losses.
Do you pay taxes? Did the treasury make up for your losses in your retirement plan?
Many of the top Obama appointees (including Sec. Treasury and head of IRS) didn’t pay taxes. Obama and Congress said, that’s “OK”. Many (most?) in Congress as well as political appointees have been paid by Wall Street, Goldman Sachs, Hedge Funds, Saudi Arabia, Banks, etc. They follow orders. They have been paid.
The “bailout”, “Toxic Assets” and other programs give billions to the people who gave/give money to the top Obama aides and appointees. That’s your tax dollars.
Do you pay taxes?
Congress knows about the ‘earmarks’, corruption, bribes, etc. Your taxes pay Congress.
Q: Do you know how much money each Congressman/woman spends each year? A: Billions. Do you pay taxes?
We, CACTUS, advocate boycotts, civil actions, etc. We do not advocate “illegal” actions. Many of our members advocate that the minority of Americans who still pay taxes, STOP! They claim, we must stop paying taxes in order to force congress to stop the corruption that is destroying America.
Also … The CEO of Coke’s compensation was over $28,000,000. That is more than $93,000 per day. That is more than the average American worker earns in 549 years.
Coke is helping the American People during the U.S. financial crisis, lost jobs, economic “distress” by raising prices and shrinking product size. Why is Coke raising prices? Greed!
We urge, boycott Coke.
The Government promised “openness” and “full disclosure”. When asked, the Treasury and/or Congress and/or the President don’t know or refuse to give truthful or accurate information.
We do know that “favored” banks, Wall Street Institutions, Lobbyists, Politicians, Washington Law Firms, etc. got hundreds of millions and billions. Goldman Sachs got 12.9 billion.
Congress and other elected and appointed government employees, their relatives and friends and campaign contributors get (average) 20-40% of the total of every “bill” passed by Congress for expenses, “fees”, “campaign donations”, “kickbacks”, “consulting fees”, “speaking fees”, cash, lobbying fees, etc. The budget just passed was for over $3.55 trillion. (That’s a lot of money!)
Q. Where does the money come from?
A: Three sources: 1 - The American Taxpayer. 2 - Borrow from the world. 3 - Print “magic” money.
Do you pay taxes? (Estimates are that the majority of Americans no longer file returns or pay what they owe. This includes many in Congress as well as all levels of Government.)
If you pay taxes, your money goes for million dollar bonuses for AIG, Goldman Sachs, lobbyists, private jets, etc. The top executives at FNMA and Freddie Mac lost money in their retirement plans, so they got “retention bonuses” amounting to $210 million to make up for their losses.
Do you pay taxes? Did the treasury make up for your losses in your retirement plan?
Many of the top Obama appointees (including Sec. Treasury and head of IRS) didn’t pay taxes. Obama and Congress said, that’s “OK”. Many (most?) in Congress as well as political appointees have been paid by Wall Street, Goldman Sachs, Hedge Funds, Saudi Arabia, Banks, etc. They follow orders. They have been paid.
The “bailout”, “Toxic Assets” and other programs give billions to the people who gave/give money to the top Obama aides and appointees. That’s your tax dollars.
Do you pay taxes?
Congress knows about the ‘earmarks’, corruption, bribes, etc. Your taxes pay Congress.
Q: Do you know how much money each Congressman/woman spends each year? A: Billions. Do you pay taxes?
We, CACTUS, advocate boycotts, civil actions, etc. We do not advocate “illegal” actions. Many of our members advocate that the minority of Americans who still pay taxes, STOP! They claim, we must stop paying taxes in order to force congress to stop the corruption that is destroying America.
Also … The CEO of Coke’s compensation was over $28,000,000. That is more than $93,000 per day. That is more than the average American worker earns in 549 years.
Coke is helping the American People during the U.S. financial crisis, lost jobs, economic “distress” by raising prices and shrinking product size. Why is Coke raising prices? Greed!
We urge, boycott Coke.
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