tagged w/ Broke
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Ye Gods! My head is still pounding from Friday night. After working for years right across the street from 111 Minna I finally had an excuse to go in. I definitely would have to recommend the place for people to visit if you want to get the hipster vibe of San Francisco.Ye Gods! My head is still pounding from Friday night. After working for years right... more
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The military industrial complex and our government has determined that we are so stupid that they can manipulate and fool us forever. Even though they feel that they must cave to our demands to stop spending our money on the damned wars in the middle east, and begin bringing our troops home, they have planned to spend even more of our money than before to send private mercenaries into Iraq to replace our troops! This is one more insidious attempt by the criminally mitlitant corporate right to privatize every aspect of our national life! Write your legislators and the President and demand that our money not be spent on soldier privateers in the middle east or anywhere! Tell them we demand that the U.S. war on the middle east be stopped, and not just pretended to be stopped. Tell them we are not as stupid as they believe we are.
http://current.com/1leiukcThe military industrial complex and our government has determined that we are so... more
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The crumbling U.S. economy is putting an extraordinary amount of financial stress on American families. For many Americans, "flat broke" has become a permanent condition. Today, over half of all American families live paycheck to paycheck. Unemployment is rampant and those that do actually have jobs are finding that their wages are rising much more slowly than prices are. The financial condition of average American families continues to decline and this is showing up in all of the recent surveys. For example, according to a new Gallup poll, "lack of money/low wages" is the number one financial concern for American families. To make ends meet, many American families are going into even more debt and more American families than ever are turning to government assistance. Right now, more Americans than at any other point since World War II are flat broke and have lost hope. Until this changes, the frustration level in this country is going to continue to grow.The crumbling U.S. economy is putting an extraordinary amount of financial stress on... more
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Most American families are really struggling in this economy and they see most of the families around them really struggling, but they don't have any hard numbers to back up the feelings of economic despair that they are experiencing.Most American families are really struggling in this economy and they see most of the... more
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* Extremists hijack anti-government cuts demonstration
* 84 people injured - and at least 31 police officers hurt on day of violence
* Ritz hotel attacked with paint and smokebombs and 1,000 occupy Fortnum & Mason
* Protesters surge along Piccadilly, Regent Street and Oxford Street forcing shops to close
* Lightbulbs filled with ammonia hurled at police officers
* Labour leader Ed Miliband defends speech to marchers
Over 200 people were arrested as extremists brought violent chaos to central London yesterday after hijacking the much-heralded trade union protest against public spending cuts.
A massive clear-up operation was underway today after trouble continued to flare late into the night as hundreds of people clashed with officers in Trafalgar Square.
Police confirmed 201 people were in custody and there had been 84 reported injuries during the protests. At least 31 police were hurt with 11 of them requiring hospital treatment.
Read more: http://www.dailymail.co.uk/news/article-1370053/TUC-anti-spending-cuts-protest-200-arrested-500k-march-cut.html#ixzz1Hqcn48Kq* Extremists hijack anti-government cuts demonstration
* 84 people injured - and... more
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By Lindsay Beyerstein, Media Consortium blogger
About 100,000 people gathered in Madison, Wisconsin to protest Gov. Scott Walker’s new anti-collective bargaining law. The state Senate hurriedly past the bill without a quorum last Wednesday. Roger Bybee of Working In These Times reports:
The rally featured 50 farmers on tractors roaring around the Capitol to show their support for public workers and union representatives from across the nation, stressing the importance of the Wisconsin struggle. Protesters were addressed by a lineup of fiery speakers including fillmaker Michael Moore, the Texas populist radio broadcaster Jim Hightower, TV host Laura Flanders, the Rev. Jesse Jackson, U.S. Rep. Dennis Kucinich, U.S. Rep. Tammy Baldwin, and The Progressive editor Matt Rothschild, among others.
The bill is law, but the fight is far from over. The Wisconsin Democratic Party says it already has 45% of the signatures it needs to recall 8 Republican state senators. So far, canvassers have collected 56,000 signatures, up from 14,000 last weekend. The surge in signature gathering is another sign that the Walker government’s abrupt push to pass the bill has energized the opposition.
Polling bolsters the impression that Walker overreached by forcing the bill through with a dubious procedural trick. Simeon Talley of Campus Progress notes that, according to a recent New York Times/CBS News poll, Americans oppose efforts to limit the collective bargaining rights of public employees.
Jamelle Bouie of TAPPED notes that the enthusiasm gap that helped elect Scott Walker last year has disappeared. In June 2o10, 58% of Democrats said they were certain to vote compared to 67% of Republicans. In March 2011, 86% of Democrats and 85% of Republicans surveyed said they would certainly vote.
Firefighters shut down bank
Wisconsin firefighters found a way to get back at one of Scott Walker’s most generous donors, Madison’s M&I Bank, Julianne Escobedo Shepherd reports in AlterNet. Firefighters Local 311 President Joe Conway put a call out to his members who banked with M&I to “Move Your Money.” Firefighters withdrew hundreds of thousands of dollars of savings in cashiers checks. The beleaguered bank closed its doors at 3pm on March 10.
John Nichols of the Nation reports that other unions got in on the act. He quotes a pamphlet distributed by Sheet Metal Workers International Association Local 565:
“M&I execs gave more money than even the Koch Brothers to Governor Walker and the Wisconsin GOP,” the message goes. “M&I got a $1.7 billion bailout while its CEO gets an $18 million golden parachute. Tell M&I Bank: Back Politicians Who Take Away Our Rights (and) We Take Away Your Business.”
Nichols explains that the next big step in the fight to overturn the bill will be the Wisconsin Supreme Court election, set for April 5. Assistant Attorney General JoAnne Kloppenburg is challenging conservative state Supreme Court Justice David Prosser. Legal analysts have raised serious questions about the bill and the process by which it was passed. A court challenge to Walker’s law might stand a better chance if a liberal justice replaces the conservative pro-corporate Prosser.
Guess what? We’re not broke
Steve Benen of the Washington Monthly takes on a GOP talking point, the myth that the United States is broke. It’s a convenient claim for those who wish to make massive cuts to popular programs without having to justify taking them away. If we don’t have the money, we don’t have the money. If it’s a choice between cuts and bankruptcy, cuts suddenly seem not only acceptable, but inevitable.
But the United States has a $15 trillion economy, immense natural resources, a highly educated workforce, and countless other economic advantages. The problem isn’t a lack of resources, it’s extreme inequality of distribution. Over the last 20 years, 56% of income growth has been funneled to the top 1% of the population, with fully one third of that money going to the richest one-tenth of one percent.
Benen notes that the Republicans didn’t think we were broke when they were advocating for a $538 billion tax-cut package, which wasn’t offset by a dime of cuts.
This post features links to the best independent, progressive reporting about the economy by members of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The Mulch, The Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.By Lindsay Beyerstein, Media Consortium blogger
About 100,000 people gathered in... more
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By Lindsay Beyerstein, Media Consortium blogger
About 100,000 people gathered in Madison, Wisconsin to protest Gov. Scott Walker’s new anti-collective bargaining law. The state Senate hurriedly past the bill without a quorum last Wednesday. Roger Bybee of Working In These Times reports:
The rally featured 50 farmers on tractors roaring around the Capitol to show their support for public workers and union representatives from across the nation, stressing the importance of the Wisconsin struggle. Protesters were addressed by a lineup of fiery speakers including fillmaker Michael Moore, the Texas populist radio broadcaster Jim Hightower, TV host Laura Flanders, the Rev. Jesse Jackson, U.S. Rep. Dennis Kucinich, U.S. Rep. Tammy Baldwin, and The Progressive editor Matt Rothschild, among others.
The bill is law, but the fight is far from over. The Wisconsin Democratic Party says it already has 45% of the signatures it needs to recall 8 Republican state senators. So far, canvassers have collected 56,000 signatures, up from 14,000 last weekend. The surge in signature gathering is another sign that the Walker government’s abrupt push to pass the bill has energized the opposition.
Polling bolsters the impression that Walker overreached by forcing the bill through with a dubious procedural trick. Simeon Talley of Campus Progress notes that, according to a recent New York Times/CBS News poll, Americans oppose efforts to limit the collective bargaining rights of public employees.
Jamelle Bouie of TAPPED notes that the enthusiasm gap that helped elect Scott Walker last year has disappeared. In June 2o10, 58% of Democrats said they were certain to vote compared to 67% of Republicans. In March 2011, 86% of Democrats and 85% of Republicans surveyed said they would certainly vote.
Firefighters shut down bank
Wisconsin firefighters found a way to get back at one of Scott Walker’s most generous donors, Madison’s M&I Bank, Julianne Escobedo Shepherd reports in AlterNet. Firefighters Local 311 President Joe Conway put a call out to his members who banked with M&I to “Move Your Money.” Firefighters withdrew hundreds of thousands of dollars of savings in cashiers checks. The beleaguered bank closed its doors at 3pm on March 10.
John Nichols of the Nation reports that other unions got in on the act. He quotes a pamphlet distributed by Sheet Metal Workers International Association Local 565:
“M&I execs gave more money than even the Koch Brothers to Governor Walker and the Wisconsin GOP,” the message goes. “M&I got a $1.7 billion bailout while its CEO gets an $18 million golden parachute. Tell M&I Bank: Back Politicians Who Take Away Our Rights (and) We Take Away Your Business.”
Nichols explains that the next big step in the fight to overturn the bill will be the Wisconsin Supreme Court election, set for April 5. Assistant Attorney General JoAnne Kloppenburg is challenging conservative state Supreme Court Justice David Prosser. Legal analysts have raised serious questions about the bill and the process by which it was passed. A court challenge to Walker’s law might stand a better chance if a liberal justice replaces the conservative pro-corporate Prosser.
Guess what? We’re not broke
Steve Benen of the Washington Monthly takes on a GOP talking point, the myth that the United States is broke. It’s a convenient claim for those who wish to make massive cuts to popular programs without having to justify taking them away. If we don’t have the money, we don’t have the money. If it’s a choice between cuts and bankruptcy, cuts suddenly seem not only acceptable, but inevitable.
But the United States has a $15 trillion economy, immense natural resources, a highly educated workforce, and countless other economic advantages. The problem isn’t a lack of resources, it’s extreme inequality of distribution. Over the last 20 years, 56% of income growth has been funneled to the top 1% of the population, with fully one third of that money going to the richest one-tenth of one percent.
Benen notes that the Republicans didn’t think we were broke when they were advocating for a $538 billion tax-cut package, which wasn’t offset by a dime of cuts.
This post features links to the best independent, progressive reporting about the economy by members of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The Mulch, The Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.By Lindsay Beyerstein, Media Consortium blogger
About 100,000 people gathered in... more
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Today's topic: Small seeds of financial change! In what small ways would you suggest the government save money? Please no crazy reform or social policy change, only constructive comments, no shipping people to other countries, positive solutions only! Join the discussion here: http://www.facebook.com/group.php?gid=128311427205799Today's topic: Small seeds of financial change! In what small ways would you... more
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Guess in the face of a massive deficit, California legislators are in a 'let's give away the store!" mentality, and aren't so big on the concept of moral hazard?
http://www.latimes.com/news/local/la-me-tax-break9-2010apr09,0,6317895.story?track=rss
California Legislature approves tax break for people in foreclosures, short sales
The measure, which is expected to be signed by Gov. Arnold Schwarzenegger, would waive state taxes on mortgage debt that has been forgiven in a foreclosure or short sale.
By Patrick McGreevy
April 9, 2010 Reporting from Sacramento
Thousands of Californians whose homes were foreclosed on or sold at a loss would get tax relief under a measure approved Thursday by the state Legislature.
The bill would waive state taxes on mortgage debt that has been forgiven in a foreclosure or short sale. It is expected to affect about 34,000 taxpayers.
Gov. Arnold Schwarzenegger said he would sign the measure, which would also provide about $60 million in tax credits to green-energy companies, when it reached his desk. Californians can already claim the tax breaks on federal returns. Lawmakers passed the measure in time for people to take advantage of it by the April 15 deadline for filing tax returns.
"The mortgage-debt tax relief provision in this bill will provide financial shelter for tens of thousands of Californians who have lost their hopes and dreams in the housing market crash, and it's about time we gave these folks a helping hand," said state Sen. Ron Calderon (D-Montebello).
The short-sale provision would mean about $34 million less in tax revenue for the state over three years, according to the Franchise Tax Board.
The "green" credits are a response to the federal American Recovery and Reinvestment Act, which provides grants to firms for power plants that produce renewable energy. The federal government does not tax the grant money. Under the bill approved Thursday, California would provide similar relief.
Other parts of the measure, SB 401 by Sen. Lois Wolk (D-Davis), were called tax increases by Republicans. Even though they supported the tax-relief element, several GOP members of the Senate and Assembly voted against the bill, which was opposed by the Howard Jarvis Taxpayers Assn.
The Republicans objected to a provision that would reduce deductions for charitable gifts, and to changes that would allow the state to tax more income earned by minor dependents.
The changes would also make it harder to qualify a home as a principal residence for purposes of escaping capital gains taxes when the property is sold, and some penalties and interest charges to corporations would be increased, according to Therese M. Twomey, a principal consultant for the Senate Republican Policy Office.
These changes would bring in more than $10 million in new revenue over five years, Twomey said.
"It's an issue of fairness," said Sen. George Runner (R-Lancaster). "You are giving money to one group of people and taking it away from another group of people."
With the plunge in the real estate market, many Californians have found themselves owing much more on their mortgages than their homes are worth. Some have been foreclosed upon or asked their lender to approve a short sale, in which a home is sold for less than the debt, some of which is waived.
The amount waived has been considered taxable income under California law. The measure passed Thursday would eliminate that tax when a bank agrees to accept less than what is owed on a home.
The governor vetoed a similar bill last month because it included a provision, since removed, that would have increased penalties against businesses and wealthy individuals who abuse tax credits.
Business groups including the California Chamber of Commerce and Western States Petroleum Assn. complained that the provision would have made businesses reluctant to claim the tax breaks for fear of making a costly error. The businesses also said California's tax penalties were already tougher than those in other states.
Wolk said the penalties would not have applied to honest mistakes.
The new measure would lift a great burden from the shoulders of Valarie Wood and her husband, who were facing a $10,000 state tax bill on debt that was forgiven in a short sale of their property in Ventura.
The 10-acre property, which included an avocado grove, had plummeted in value far below what they owed.
Health problems and a "mortgage gone awry" forced the couple to renegotiate their loan with their bank, which agreed to waive about $300,000 of debt on the house and property, Wood said.
"We've lost our dream home. We are in our 60s, and it was going to be our retirement," she said, her voice choking with emotion. "This bill is crucial for people like us. We are extremely relieved."
Schwarzenegger said during a news conference Thursday that he wants to give homeowners and businesses "the relief they need."
"We want to be helpful in every way we can, so we will sign it," he said.
patrick.mcgreevy@latimes.comGuess in the face of a massive deficit, California legislators are in a... more
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The latest federal budget opens the American public to yet more pain, while shielding the military and the rest of the national security establishment from the same.
March 2, 2010 |
Send up a flare! The 2011 federal budget has sprung some leaks in the midst of a storm. Not sure there's enough money for life rafts! Forget women and children first!
Buffeted by economic hard times, the 2,585-page, $3.8 trillion document is already taking on water, though this won’t be obvious to you if you’re reading the mainstream media. Let’s start with the absolute basics: 59% of the budget’s spending is dedicated to mandatory programs like Medicaid, Medicare, Unemployment Insurance, Social Security, and now Pell Grants; 34% is to be spent on “discretionary programs,” including education, transportation, housing, and the military; 7% will be used to service the national debt.
A serious look at this budget document reveals some “leaks” -- two in actual spending practices and two in the basic assumptions that undergird the budget itself. Ship-shape as it may look on the surface, this is a budget perilously close to an iceberg, and it’s not clear whether the captain of the ship will heed the obvious warning signs.
Whose Security Is This Anyway?
In his State of the Union Address, given several days before the 2011 budget was released, President Obama announced a three-year freeze on “non-security discretionary spending.” This was meant as a gesture toward paying down the looming national debt, but it should also be considered an early warning sign for leak number one. After all, the president exempted all national-security-related spending from the cutting process. Practically speaking, according to the National Priorities Project (NPP), national security spending makes up about 67% of that discretionary 34% slice of the budget. In 2011, that will include an as-yet-untouchable $737 billion for the Pentagon alone.
Within the context of the total budget, then, so-called non-security discretionary spending represents a mere 11% of proposed 2011 spending. In other words, Obama’s present plans to chip away at the debt involve leaving 89% of the budget untouched. Only the $370 billion going to myriad domestic social programs will be on the chopping block.
What's in that $370 billion? Well, for starters, programs that focus on the environment, energy, and science. In the 2011 budget, these categories combined are projected to receive $79 billion or 6% of total domestic discretionary spending. Though each of these areas could actually use a significant boost in funds, that’s obviously not in the cards -- and this will translate into less money at the state level. New York, for example, is projected to receive $247 million in home energy assistance for low-income folks, down more than $230 million from 2010. These funds mean an energy safety net for our communities, and also warmth and jobs in a cold winter, which looks like “security” to most of us, no matter what our captain says.
Asking for disproportionate cuts and efficiencies in programs in only 11% percent of the overall budget might perhaps be slightly easier to stomach if military spending wasn’t allowed relatively free rein in 2011 (and thereafter). The NPP estimates, in fact, that aggregated increases in military spending over the next decade will exceed $500 billion, drowning twice-over the projected $250 billion in non-security discretionary savings from the president’s cuts over the same time period. Consider this visible unwillingness to control military-related spending leak two in our budgetary Titanic.
By now, danger flags should be going up in profusion because the second leak is so familiar, so George W. Bush. With each new bit of information, in fact, it sounds more and more like the same old song, the last guy's tune. It’s clear that, as soon as the stimulus bump wears off later this year, we're in danger of falling back into exactly the same more-money-for-the-military, less-federal-aid-to-the-states rut we’ve been in for years, despite strong statements from both President Obama and Defense Secretary Robert Gates decrying Pentagon waste.
And speaking of waste, the Department of Defense is currently carrying weapons-program cost overruns for 96 of its major weapons programs totaling $295 billion, which alone are guaranteed to wipe out any proposed savings from President Obama's non-security discretionary freeze, with $45 billion to spare. That's only to be expected, since neither the Pentagon nor any of the armed services have ever been able to pass a proper audit. Ever.
Even more at the link:The latest federal budget opens the American public to yet more pain, while shielding... more
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London, January 16 : The Hills star Audrina Patridge is concerned about her co-star Heidi Montag undergoing a number of cosmetic surgeries in a single day.
For Full Story ANd HOT PHOTOS of both Hills Hotties..Heidi is Broke???>>http://ctpatriot1970.wordpress.com/2010/01/17/hot-photosaudrina-patridges-distaste-for-heidi-montags-plastic-surgery-disaster-also-montag-nearly-broke/
Montag has got breast augmentation, apart from Botox, work on her butt and liposuction, in a bid to become a pop sensation.
“I haven”t seen how she looks, so it’’s hard for me to comment on it, but these are her decisions, and as long as Heidi is happy, that’’s all that matters,” the Daily Express quoted Patridge as telling People.com.London, January 16 : The Hills star Audrina Patridge is concerned about her co-star... more
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Brittany Murphy died virtually broke – and her financial mess has triggered a bitter feud between her husband and her heartbroken mom.
the full story about Brittany Murphys death and Moms Frantic 911 call Video...http://ctpatriot1970.wordpress.com/2010/01/10/brittany-murphy-died-broke-moms-frantic-911-call-the-truth-about-brittany/
The Clueless star, who died mysteriously on Dec. 20 at age 32, owed more money than her Beverly Hills home is worth. The 8,000 square foot mansion is now occupied by her mother, Sharon, and her husband of 2 1/2 years, Simon Monjack.Brittany Murphy died virtually broke – and her financial mess has triggered a... more
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Dec. 24 (Bloomberg) -- California Governor Arnold Schwarzenegger, anticipating a $21 billion state budget deficit, plans to ask President Barack Obama to ease mandates and minimums on social programs to save as much as $8 billion.
The Republican governor plans to seek the relief, according to a California official who asked not to be identified because details haven’t been resolved. Instead of seeking one-time stimulus money or a bailout, the most-populous U.S. state wants the federal government to reduce mandates and waive rules stipulating expenditures on programs such as indigent health care, the official said.
California is among states most affected by the economic recession. It has the lowest credit rating and recorded the nation’s second-highest rate of home foreclosures, trailing only Nevada. Unemployment peaked at 12.5 percent in October amid the loss of 687,700 jobs from the year before, when the jobless figure was 8 percent. Wealth declined as the stock market lost 40 percent of its value in 2008.
More at Link:
http://www.bloomberg.com/apps/news?pid=20601103&sid=aKc0QT2U7Gc0Dec. 24 (Bloomberg) -- California Governor Arnold Schwarzenegger, anticipating a $21... more
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,_but_it's_been_morally_bankrupt_all_along
Seems like a domino effect happening here.,_but_it's_been_morally_bankrupt_all_along
Seems like a domino effect happening... more
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jrn
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2 years ago
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What's your diet like now that the recession of 2009 has affected your pocket and mine...Listen to what these young folks are eating.
www.youthoutlook.org
www.newamericamedia.orgWhat's your diet like now that the recession of 2009 has affected your pocket and... more
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