Here is an interesting story, one that has slipped in under the radar. (1)

When Chrysler was sold to Fiat, a federal judge violated a basic tenant of bankruptcy law by short-changing secured creditors in favor of unsecured creditors - such as the U.S. government and the UAW. This was clearly a politically motivated act, but was upheld by an appeals court as necessary in the current “emergency”.  This has made it’s way to the U.S. Supreme Court, which has issued a summary judgement vacating the lower courts ruling.

Political Pistachio Radio Revolution Addresses Income Tax Thievery by the State of California:

Last November the State of California began acting upon a new scam to suck more money out of the populace. The state is broke because the leftist progressive idiots of California’s government can’t seem to budget. The thievery is being accomplished by increasing the income tax withholding allowance by 10%. By taking more money out of our paychecks, the state is literally taking more taxes, while calling it something else. Problem is, the tax is being withheld unconstitutionally, and illegally.

The State Constitution of California requires a vote to approve any increase in income tax. A vote never went to the State Congress. The governor and his cronies decided, without asking anyone, to increase tax withholding, claiming that technically it isn’t a tax because they plan to give it back at tax time.

What’s the difference between borrowing without permission, and stealing?

]]>Their Master's Voice; Obama Gives Cell Phones to the Poorhttp://www.americandailyreview.com/business-economy/2009/10/31/their-masters-voice-obama-gives-cell-phones-to-the-poor.htmlTimothy Birdnow2009-10-31T16:32:21ZBy Timothy Birdnow

First we had free electric golf cartscourtesy of Cash for Clunkers, now we have free cell phones (1) with free airtime courtesy of Barack Hussein Obama and his overstimulated plan. According the the SafeLink Wireless website

President Obama and ABC News’ George Stephanopoulos had an unexpected battle on Sunday (is ABC then going to join Fox News on the NoBama list of rejected networks?). Stephanopoulos dared to challenge The One by asking whether or not the president’s health care plan includes a tax increase.

Of course, Obama claimed it didn’t have a tax increase (Obama has gotten really good at lying… have you noticed?)

Stephanopoulos asked when referring to the mandatory coverage clause, “Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax?”

Obama responded, “No, but — but, George, you — you can’t just make up that language and decide that that’s called a tax increase.”

Stephanopoulos pulled out the dictionary and read the definition to Uncle Barry. “I don’t think I’m making it up. Merriam-Webster’s dictionary [says] ‘Tax, a charge, usually of money, imposed by authority on persons or property for public purposes.’”

]]>One World Currencyhttp://www.americandailyreview.com/business-economy/2009/9/20/one-world-currency.htmlDouglas V. Gibbs2009-09-21T04:00:00ZBy Douglas V. Gibbs

A Thief in the Night was a film I watched as a young man during the seventies. The plot circled around The Rapture, and as a Christian I found the movie very intriguing. A scene that still speaks to me in my memory began with a woman waking up and hearing her husband’s electric razor buzzing in the bathroom. She gets up to see the shaver rumbling on the sink, and he is not there.

The other part of the film that stands out in my memory is the United Nations’ role in pulling together a global effort to deal with the event of millions of people worldwide suddenly vanishing. United Nations vans cruise the streets as the government officials search for anyone not willing to comply with the new emergency measures they had to take. The government system that arises is called UNITE (United Nations Imperium for Total Emergency), and is primarily set up to find those who do not receive the mark of The Beast, which identifies them with UNITE.

]]>Banks Back To Old Toxic Loanshttp://www.americandailyreview.com/business-economy/2009/9/6/banks-back-to-old-toxic-loans.htmlDouglas V. Gibbs2009-09-06T20:34:00ZBy Douglas V. Gibbs

After the Federal Government spent billions (a figure that may balloon to trillions) to save banking institutions, the banks are now repackaging the same toxic sludge and are selling them around the world as AAA investments. These toxic securities have no reliable pricing and banks are allowed to carry them on their books as “marked to model” meaning they are being marked as worth more than they are. This continued practice by the banks will not work to alleviate the trillions of dollars already sitting in accounts with no viable means of pricing, and will recreate an even larger problem as more and more jobless people default on their prime loans. They are trying to fix a problem with the same disease that crippled us in the first place.

]]>History Lesson: Hoover's Pro-Labor Union Stance Worsened Great Depressionhttp://www.americandailyreview.com/business-economy/2009/8/31/history-lesson-hoovers-pro-labor-union-stance-worsened-great.htmlWarner Todd Huston2009-08-31T19:56:00ZBy Warner Todd Huston

An economist is saying that President Hoover set the stage to worsen The Great Depression because of his pro-labor union stance.

Pro-labor policies pushed by President Herbert Hoover after the stock market crash of 1929 accounted for close to two-thirds of the drop in the nation’s gross domestic product over the two years that followed, causing what might otherwise have been a bad recession to slip into the Great Depression, a UCLA economist concludes in a new study.

Lee E. Ohanian, a UCLA professor of economics, lays the worst of the Depression at the feet of Hoover who, in his opinion, made the recession “three times worse” by keeping industrial wages too high which “sharply depressed employment.”

California’s Free Cash For Illegals, Coddling Lawbreakers

Here is just another example of why the State of California is in a budget crisis: The Cash Assistance Program for Immigrants (CAPI).

What is this program, who qualifies? Well, it does no less than give free government money to any illegal immigrant that is either over 65 years of age or is disabled or blind and does not qualify for Supplemental Security Income (Social Security) due to their immigration status.

What is the cost of three Canadian visitors a day? Fifteen million dollars in Obamabucks, apparently. Worse, this waste of money wasn’t something the president of “transparency” seemed disposed to let us easily discover. Still, the Boston Globe reports that $15 mil is the amount of so-called stimulus money that Obama allowed to be spent by the state of Montana on a tiny border check-point facility that sees about three visitors a day — that’s $14,000,000 per tourist for the year.

Despite Obama’s promises that the stimulus plan would be transparent and free of politics, the government is handing out $720 million for border upgrades under a process that is both secretive and susceptible to political influence. This allowed low-priority projects such as the checkpoint in Whitetail, Mont., to skip ahead of more pressing concerns, according to documents revealed to the Associated Press.

Yep, you read that right. In many states car buyers that turned in their “clunkers” for up to $4,500 off the cost of a new car are finding out that they have to pay state sales tax on the $4,500 too. And still others just might find out next year that they’ll have to pay income tax on that “free” government money.

Many South Dakotans, for instance, have been shocked to find that the wonderful gift from Obama was still added in with the cost of the automobile for the sales tax calculation, so their tax went up accordingly despite that they didn’t pay the $4,500 themselves.