Occupy Wall Street

[FireWalker]

Quote from FireWalker:

To clarify this a bit:
- The Treasury owes nothing to the Federal Reserve due to lack of consideration. National debt $0. Personal income taxes $0.
- The T-bond market can remain afloat for a while as those bonds were traded with consideration conveyed.
- The Treasury's fiduciary responsibility to T-bond savers can be made good through Congress.

FYI, I sent the following to my Congressman. You might assist in this return to Constitutional government by simply emailing something similar to the Congressman in your district.


The core of budgetary problems in Congress

To be brief:

The Federal Reserve has been kiting checks to the US Treasury since at least 1971. Due to lack of consideration, the Treasury owes nothing to the Federal Reserve.

A couple of points to make:
- National debt goes to $0.
- Personal income taxes were originally designed to pay for the T-bonds, so personal income taxes can easily be repealed.
- The Treasury's fiduciary responsibility to savers of T-bonds can be made good through Congress.
- Since consideration was conveyed when the Fed sold the T-bonds to investors and banks, the T-bond market can remain afloat. (It will likely unwind naturally.)

As few really understand the mechanics of the above, if you have concerns or questions, please let me know.

 

[nutmeg]

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[piezoe]

Quote from Pekelo:

I don't understand it either. Profits are privatized, losses are socialized. Is that how capitalism supposed to work?

It's how it can work if allowed to. In fact, it's how it will work if allowed to!

 

[GordonTheGekko]

Did ya'll hear about the occupy Oprah's west butt and occupy Oprah's east side of her butt

 

[piezoe]

Quote from oldtime:

... More and more people pay no taxes so they are bitching that the ones that do don't pay enough. ...

Not disagreeing with your post, but just wanted to point out a common misconception that low paid workers pay no taxes. In truth they can end up paying a higher percent of their income in taxes then some highly compensated workers. They just don't pay the income tax. (They get that returned to them.)

 

[oldtime]

Quote from piezoe:

Not disagreeing with your post, but just wanted to point out a common misconception that low paid workers pay no taxes. In truth they can end up paying a higher percent of their income in taxes then some highly compensated workers. They just don't pay the income tax. (They get that returned to them.)

no doubt, and the poorer they are the higher the percentage. Sales tax, gas tax etc, no way to find a shelter

 

[kinggyppo]

Quote from nitro:

"Occupy Chicago spreads message through downtown"

http://www.suntimes.com/business/8144210-420/occupy-chicago-spreads-message-through-downtown.html

I love this rant.......


http://www.youtube.com/watch?v=coDtzN6bXAM

 

[kinggyppo]

Quote from FireWalker:

To clarify this a bit:
- The Treasury owes nothing to the Federal Reserve due to lack of consideration. National debt $0. Personal income taxes $0.
- The T-bond market can remain afloat for a while as those bonds were traded with consideration conveyed.
- The Treasury's fiduciary responsibility to T-bond savers can be made good through Congress.

This would be a great topic for a separate thread , almost everyone has misconceptions about how the us system works. Most people think their taxes go directly to fix roads etc. great topic but this would get messy real quick. I will just say back when I was 18 I took my first economics class, I remember the teacher talking about recessions and that the fed prints more money etc. My hand went up involuntarily, I was like what the fuck are you talking about. Anyhow that was quite a revelation. I think back in the 70's 80's people didn't know about the printing press and why its problematic. A lot more people understand this and inflation, although maybe not correctly. How many poor people out of 100 think that there is a fixed amount of money in the US, I bet it is an extremely high figure.

 

[sheda]

Conservatives launch “We are the 53 percent” to criticize 99 percenters


Conservative activists have created a Tumblr called “We are the 53 percent” that’s meant to be a counterpunch to the viral “We are the 99 percent” site that’s become a prominent symbol for the Occupy Wall Street movement. The Tumblr is supposed to represent the 53 percent of Americans who pay federal income taxes, and its assumption is that the Wall Street protesters are part of the 46 percent of the country who don’t.

http://www.washingtonpost.com/blogs...99-percenters/2011/10/10/gIQA70omaL_blog.html

 

[stock777]

lol, you're the morons that allow ceo's to make hundreds of millions running public companies into the ground.

it should be illegal to make that much money as an employee of any kind. if you OWN the company thats another story.

thieves and con men will do what they can get away with. since I'm not the anointed king, they get away with quite a lot, on your watch.

i am the 99