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Democrats: Let's Ban Profits!
http://www.youtube.com ^ | Sept. 5, 2012 | SchiffReport

Posted on 09/06/2012 11:41:31 AM PDT by Free ThinkerNY

Peter Schiff speaks to mainstream DNC delegates who want to see a cap or ban on corporate profits.

(Excerpt) Read more at youtube.com ...


TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; Politics/Elections
KEYWORDS: 2012; commies; communists; corporateprofits; corporations; democrats; evil; jaywalkers; leftwingnuts; morons; profits; reds; rich; voting
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To: Caipirabob

I believe he could have asked that question to every person who walked into that arena and would have gotten the same answer.

Nucking Futs!!!! All of them!


51 posted on 09/06/2012 1:45:41 PM PDT by a real Sheila (RYAN/romney 2012)
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To: tumblindice

And, the resentment has started,too.


52 posted on 09/06/2012 1:45:44 PM PDT by Quickgun (Second Amendment. The only one you can put your hands on.)
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To: Free ThinkerNY

Do these people understand that corporate/business taxes are based on profit?


53 posted on 09/06/2012 1:54:21 PM PDT by golas1964 (Obama must be defeated in 2012)
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To: Free ThinkerNY

Domestic Enemies. Try them for treason, theft, and perversion.


54 posted on 09/06/2012 1:58:06 PM PDT by Dead Corpse (I will not comply.)
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To: Chances Are
If you make a "profit", you are engaging in immoral, unethical, and anti-American behavior, and laws to reign this type of behavior in is in the public good.

And they earnestly believe this. Many people (and whole cultures) hold as a fundamental axiom that acquisition of wealth ONLY occurs by removing it from others, presumably by illicit means. They cannot conceive of the creation of value out of mundane goods/resources/services; the concept of "the whole is greater than the sum of the parts" eludes them. They refuse to end contractual involvement at the end of a contract; if one party benefits from a contract, then by mere prior association others are somehow owed a share of the profits. They believe this.

55 posted on 09/06/2012 1:59:49 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: randomhero97

It’s not the innocent children. It’s the adults. While I am totally against abortion,except in a very few extreme circumstances, I’m not opposed to doing whatever it takes to keep the leeches from breeding.Some measures I have thought of are pretty extreme, too. No easy answer to your question, but the answer isn’t abortion.


56 posted on 09/06/2012 2:04:54 PM PDT by Quickgun (Second Amendment. The only one you can put your hands on.)
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To: golas1964
Do these people understand that corporate/business taxes are based on profit?

They do not comprehend that high enough taxes discourages profit-making activity. They view income as a fixed given (hence the "living wage" notion, but that digresses), with no consideration that taxing a million-dollar income at 90% will persuade the worker to reduce his efforts 85% (same net income), dropping expected gov't tax revenue 95%. They think tax_rate = C x tax_revenue. They laugh at the Laffer curve.

They do not observe that Steve Jobs' salary from Apple was $1. They do not observe that Ronald Regan, as actor, did not make many more movies because doing so would put him in a 90% tax bracket. They don't comprehend that 1% of a million is greater than 50% of a thousand. And they don't notice that federal revenue NEVER exceeds 20% of GDP.

57 posted on 09/06/2012 2:08:26 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: cranked

That was a “plank” in the “green party” platform the last time around...

Anything earned over a certain amount (I seem to recall it was 1 million dollars, but it might have been less) would be taxed at 100%.

I wonder how much productivity there would be after than maximum was reached...

Mark


58 posted on 09/06/2012 2:18:43 PM PDT by MarkL (Do I really look like a guy with a plan?)
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To: Figment
No profits is a good strategy if you can stay in business. A whole lot less taxes

The only businesses that can operate without profit are run by the government, and they always LOSE MONEY. But then they don't have to worry about that, because they'll just allocate more money to the business.

Mark

59 posted on 09/06/2012 2:22:46 PM PDT by MarkL (Do I really look like a guy with a plan?)
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To: Free ThinkerNY
who want to see a cap or ban on corporate profits.

1) a profit is an accounting concept that is morally neutral. For an individual industry, it is the difference between sales revenues minus costs. Also, for the economy as a whole, aggregate profit is the sum of net consumption plus net investment.

2) Profit motive is beneficial to a free society because it:

2.1) is a natural consequence of and depends on private ownership of the means of production and private property rights.
2.2) is the foundation of the price system and rational economic planning
2.3) gives consumers the power to determine the relative size of the various industries
2.4) keeps the various branches of industry in proper balance
2.5) makes businessmen act as agents of the consumers
2.6) operates contrary to doctrine of planned obsolescence
2.7) promotes safety voluntarily rather than through force
2.8) represents pursuit of material self-interest under division of labor and money
2.9) underlies the connection between process and costs of production
2.10) underlies continuous economic progress
2.11) underlies the free market’s allocation principles
2.12) underlies the uniformity-of-price principles
2.13) underlies the uniformity-of-profit principle

60 posted on 09/06/2012 2:47:26 PM PDT by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
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To: Free ThinkerNY

Stunning. This is literally strangling the goose that laid the golden egg. And when I say ‘literally’, I mean ‘figuratively’.


61 posted on 09/06/2012 2:50:39 PM PDT by fhayek
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To: cranked

It is the essence of the leftist platform that no man be free to be anything but a servant of the State.

That all men are thus granted “magnanimously” by the State the sum of their ever dwindling pool of rights.

It is after all democrats that speak of rights like freedom of speech as if they are somehow wondrous blessings of Washington(at best), rather than gifts of our creator inherit in our existence, and not subject to legitimate Government usurpation.


62 posted on 09/06/2012 2:51:25 PM PDT by Monorprise
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To: Caipirabob

No they simply suppressed everyone’s profits(incomes) and income poetical, while hypocritically struggling to sap as much of what little remains as they can for themselves.


63 posted on 09/06/2012 2:53:57 PM PDT by Monorprise
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To: RetiredArmy

No profits, no tax revenue, no food stamps. They haven’t thought this through.


64 posted on 09/06/2012 2:53:57 PM PDT by IAGeezer912 (One out of every 200 people on the face of the earth are Americans. We have won life's lottery.)
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To: Free ThinkerNY

The leftists always target companies with “excessive” profits.....like Exxon.

Yet Apple with its HUGE cash hoard gains nary a peep from these same people.


65 posted on 09/06/2012 2:55:26 PM PDT by Red in Blue PA (Read SCOTUS Castle Rock vs Gonzales before dialing 911!)
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To: Free ThinkerNY

They can’t even pretend to be main-stream any more. This is the end.


66 posted on 09/06/2012 3:00:26 PM PDT by Eleutheria5 (End the occupation. Annex today.)
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To: Quickgun

Your right, there are in reality two paths to freedom, the slow path of gradual Restoration(that NEVER WORKS), and the quick(sometimes even violet) path of revolution.

Obama has pushed us to the verge of a revolution, which I contend has already in fact taken place among much if not most of our base.

We either get them to back down and leave what little is left of our tangible freedom alone, or I think at some point down the line, perhaps inevitably there will be a war. Who fires the first shot I don’t think anyone can say.

To be honest I suspect many in the Military and the Obama administration sense this coming tide in their heart. You would have to be crazy not to.

The statistical & traitorous loyalist that support them are probably hoping it will come down to a simple 1960’s style confrontational. Where the military comes in and shoves their will down everyone throats and every peon simply surrenders.

What they don’t seem to recognize is that there are some major differences between now and the 1960’s.

1: We know where they are strong with force from the history of the 1960’s an thus know to avoid that until such time that we can disarm them. A time that is now more political feaseable than ever.

We need merely convince our conservative compatriots of the present domestic threat in the Federal military while working to mitigate that domestic the remaining foreign threats with State military build up.

When Washington is disarmed our States will be free to fight leftism as it is imposed by Washington.

2: The Unifying force of the foreign communist threat is now not only no longer foreign but is domestic among the ruling left. The problem is information, the more we know about them and their evil phlophicy the more we rightly fear them as the real communist threat.


67 posted on 09/06/2012 3:07:00 PM PDT by Monorprise
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To: Lacey2

Being so easy, whats stopping you from raking the money in?
I have been an owner and supervision.
You will have good days and some not so good days.

Just one ‘Oh sh!t’ by an employee and all you have is gone.


68 posted on 09/06/2012 3:21:59 PM PDT by DUMBGRUNT (The best is the enemy of the good!)
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To: IAGeezer912

Leftist as a rule never think anything thou before they shove it down our throats.

Remember they are dealing with an ill-rational base motivated as much by racial hate as they are by envy & greed. Their political leaders don’t have to think anything thou they nearly have to connect for their loyal base the dots between this act and their revenge(against imagined enemy’s) or payout(welfare checks).

What conservatives have failed to do is de-stablises the Democratic machine by proving to their own base that the very government they have allowed themselves to become depended upon in the doll is unreliable and untrustworthy.

That they can no more hope to win every election than we can, and therefore to put your eggs in that basket is to entrust them to men you think either incompetent or your enemy.

That the alliterative is the same as that choice you make when you voluntarily buy any good or service as an individual. To reserve that basic choice of investment for yourself.


The Question is:

I am libertarian because i don’t trust democrats as either competent, or trustworthy. I therefore cannot trust these vital aspects of my life to a government they will invariably control.

Why do you democrats trust republicans?


69 posted on 09/06/2012 3:23:45 PM PDT by Monorprise
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To: Monorprise

You’re right on spot, the only thing i would add is that I don’t believe we have that much to worry about as far as our own military is concerned, except for a very few, the military is us. Our sons and daughters, not the lefties, who despise our military, just as they despise us.
When the decision comes to either work at forced labor, imprisoned, or dieing from lack of medical care, I believe I’ll just die in a warm bed of spent brass.....


70 posted on 09/06/2012 3:29:24 PM PDT by Quickgun (Second Amendment. The only one you can put your hands on.)
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To: Publius

Wow... as in Upton “make up lies about the meat industry because I hate business” Sinclair? Not that surprising, given the track record.


71 posted on 09/06/2012 3:39:01 PM PDT by arderkrag (An Unreconstructed Georgian, Forever in Rebellion.)
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To: Free ThinkerNY

I’ve said it before and l’ll keep saying it. Liberals are no different than terrorist, they tell you what to eat, drive, where to live and they demand totat submission to there god, which is big goverment, and if you dont adhere to there bible your a bigoted racist sinner who needs to be dealt with. Truth be told they would kill everyone of us if they could, just like another tyrant did, several tyrants for that matter.


72 posted on 09/06/2012 4:42:28 PM PDT by saturn
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To: Lacey2
So then you must have been their accountant and privy to all this info and therefore complicit, right?

Please.

73 posted on 09/06/2012 5:00:45 PM PDT by Madame Dufarge
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To: Quickgun

The officers are by in large political animals. The troops will just follow orders. That is what they are trained to do. And remember the military is not a “free” society. A coup will destroy the COTUS as much as Obambi.


74 posted on 09/06/2012 5:36:46 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: ctdonath2
They believe this.

Yes, they do.

There are "academics" (I use that term loosely here - very loosely!) out there that write entire tomes declaring market economies are a "zero sum game" (unfortunately, I've wasted a portion of my life reading such stuff), and cannot, for whatever reason, grasp the concept of market "growth".

Perhaps you'll recall many of them (all of them?) railed mightily against Reagan's blaspheme of "growing out of the recession" and "growing the pie". The best thing, for me, about this stuff at the time was it's incredible entertainment value. With the stuff they were blurting out, no way in hell could I make that stuff up.

Boy, them's was the days....

For me at the time, the best part of the run-up to Reagan's election was the great amount of intellectual ferment that accompanied the era. I loved getting every issue of Commentary and a host of other periodicals. Lord knows, I spent many a good evening poring through them.

It's different now, with the ubiquitous Internet. I still spend many an evening on FR and other intellectually stimulating sites. Anything to get the juices flowing...

Romney's not Reagan, of course, but Ryan's lots better than Bush I. And further, by selecting Ryan, Romney has, through design or accident, cast the future of the Republican Party. The Tea Party, of course, must remain highly active in politics to ensure that future is realized by deconstructing the GOP-E, but I think it can be done.

The obverse of that insight is Obama is light years to the left of that historical mistake, Jimmy Carter, and thus are the stakes raised exponentially over 1980's election.

We confront several problems and conundrums as we seek to shape a better America and world. Of most immediacy, there is the problem and influence of the media.Over the typical airwaves, we must settle for Fox until a true Conservative/market oriented network is developed. Until that time, the Internet, talk radio, and social media will have to suffice as our chief weapons in the Culture Wars, and personally, I think they should be wielded ruthlessly.

Beyond that, we have to address what passes for our "educational system". The Left has been firmly entrenched there for over 70 years. The idea here is not to overcome, destroy, and replace that system - that is too unwieldy, and would take too long.

No, we supplant the current system (which may be on the verge on imploding and collapsing anyway) with the weapons we now possess - home schooling and the Internet, devising and developing alternative online schools and universities. While it will take time, effort, and money, it'll still be cheaper, and faster, than the alternative.

There are other areas of concern, of course, but we should tackle them as opportunity permits, and if we win this election, opportunities should start emerging almost immediately.

This is a lot longer than I had planned to respond to you, and I thank you for your indulgence. I just got wound up here and took it out on you.

Have a good night, FRiend, and thanks for the response.

CA....

75 posted on 09/06/2012 5:56:55 PM PDT by Chances Are (Seems I've found that silly grin again....)
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To: cranked

not even liberalism though is it, this is pure out and out on the brder of communism.

The way some of these Dems today is so far left that theywoudl have fitted in easern Europe in 75


76 posted on 09/06/2012 6:03:16 PM PDT by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: Free ThinkerNY

Perfect.. no point in the stock market.. no point in investing and whatever companies left standing or created will pay themselves salaries the like we have never seen we when we have 50 percent unemployment.


77 posted on 09/06/2012 6:09:33 PM PDT by Almondjoy
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To: Quickgun; redgolum

redgolum is right. it is an easy and relatively quick thing for an administration to simply replace & preswade the federal officers with those loyal to him and his cause.

As for the rest of the Federal military you may notice its authority structure designed to enforce ridged western order is also its aklees heel when it comes to its usefulness at the hands of a tyrant.

Simply put any patriot solderer that sides with liberty will have to resign and join a new army in defense of the same. If he simply refuses unlawful orders the rest of his organization will quickly dispatch him.

Indeed the only useful roll such a patriot could play in the Federal army is that of spy for the patriot cause.

In either case for such a cause to be viable there must in fact be a patriot army, and I contend that such an army could only be formed by our States. Starting with taking over their existing National guards.(Purging the non-patriot officers).

It therefore behooves us as political oppertivies to advocate for empowerment of State National Guards over the Federal Army & air-force.(transfer of resources, assets, and personnel).

That and taking control of our State Governors is one of the few “under the table” things we can do to enhance our long term position.


78 posted on 09/06/2012 6:24:27 PM PDT by Monorprise
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To: Free ThinkerNY

dem dam Dems dammit! good for nothing Communists! i can’t stand them!


79 posted on 09/06/2012 7:27:48 PM PDT by BrianE ("Dead at 25 buried at 65 the average American" - Benjamin Franklin 1776)
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To: Lacey2

the way it should be, remember why the Revolution started....the English imposing a tax on the colonies in 1773.


80 posted on 09/06/2012 7:35:34 PM PDT by BrianE ("Dead at 25 buried at 65 the average American" - Benjamin Franklin 1776)
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To: RetiredArmy

just proof that libs don’t think


81 posted on 09/06/2012 7:38:16 PM PDT by ncpatriot
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To: Jim Robinson; randomhero97; Quickgun

some of the most dedicated conservatives ... had commie parents. They’ve seen it up close.


82 posted on 09/06/2012 8:06:06 PM PDT by campaignPete R-CT (and we are still campaigning for local conservatives in central CT.)
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To: massgopguy
Well Bammy did say we weren't gonna be able to eat the things we want nor as much of them.

And it went UN-noticed just like the skyrocketing fuel prices.


It's bad enough when he lies. It's when he tells the truth that scares the hussein outta me!

83 posted on 09/06/2012 9:39:00 PM PDT by rawcatslyentist (I'd rather have a bottle in front of me, than a Barack 0b0tt0my!)
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To: newbolt

Nope, unfortunately they don’t. (You’re assuming the “Check Only ‘D’ Voter” can construct a logical thought.)


84 posted on 09/07/2012 12:20:33 AM PDT by taraytarah
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To: DUMBGRUNT

Of course you are right. One disgruntled employee and big trouble could ensue and often does in cases as I have described. In this case it never happened.

The 2 brothers sold the business and retired some 15 years ago.


85 posted on 09/07/2012 2:07:36 AM PDT by Lacey2
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To: Madame Dufarge

LOL, so without any evidence you call me a liar? Only I know my relationship to these folks and all that matters is I know what I said is the truth.

I merely supplied the information to make a point and whether you believe me or not is unimportant.


86 posted on 09/07/2012 2:10:54 AM PDT by Lacey2
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To: Free ThinkerNY
I watched this video earlier this morning.
These (cough - morons) 'people' (cough - morons) are dangerously stupid.
87 posted on 09/07/2012 5:14:16 AM PDT by Condor51 (Si vis pacem, para bellum.)
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To: Free ThinkerNY

Is there any question that these are really Communists. The amusing part is that every one of their leaders makes a fortune. Clinton, Gore, Pelosi, Kerry all cashed in. I wonder if they’d be interested in giving up their profits.


88 posted on 09/07/2012 5:57:42 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: cranked

Essentially they’ve been doing that all along, or trying to - progressive income tax.

They would tax “the rich” at 100% if they could. In fact, I’m sure if they could get away with it, they’d tax us all at 100%, then give us what they decided we should be permitted to have. We get one step closer to this with every new Dem law.


89 posted on 09/07/2012 6:05:37 AM PDT by generally (Don't be stupid. We have politicians for that.)
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To: Lacey2

Remember, the main reason to go into business:

To STEAL from YOURSELF!


90 posted on 09/07/2012 7:19:24 AM PDT by DUMBGRUNT (The best is the enemy of the good!)
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To: DUMBGRUNT

Having also been self employed for about 20 years I can testify to the truth in what you say.


91 posted on 09/07/2012 7:23:28 AM PDT by Lacey2
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To: redgolum
They only want to ban other peoples profits. The nomenclature will still live the high life.

Fuedal system. With us as serfs.

92 posted on 09/07/2012 7:31:16 AM PDT by SCalGal (Friends don't let friends donate to H$U$, A$PCA, or PETA.)
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To: cranked
Next they will then want to cap how much many a person can make....

No you can make as much as you want, but you have to SHARE it with the lib bums who lay home on their couch doing drugs!

93 posted on 09/07/2012 7:35:16 AM PDT by blondee123 (Our country is headed for DICTATORSHIP! WAKE UP!)
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To: SCalGal

The Fuedal system had more rights for the serfs than that.

They want to go back to the plantation system.


94 posted on 09/07/2012 7:37:18 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: redgolum

We aren’t going to make very good serfs OR slaves.


95 posted on 09/07/2012 7:41:31 AM PDT by SCalGal (Friends don't let friends donate to H$U$, A$PCA, or PETA.)
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To: DUMBGRUNT

Truer words have never been spoken! LOL


96 posted on 09/07/2012 8:13:48 AM PDT by commish (Freedom tastes sweetest to those who have fought to preserve it.)
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To: Lacey2
That's pretty much the way people do it.

Starve the beast.

Not a bad thing at all.

I've done it that way and will again.

97 posted on 09/07/2012 12:06:32 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: IAGeezer912
No profits, no tax revenue, no food stamps. They haven’t thought this through.

Sure they have.

They're fascists. They want to control the means of production and "distribute" the proceeds as they see fit.

98 posted on 09/07/2012 12:23:28 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: IAGeezer912
No profits, no tax revenue, no food stamps. They haven’t thought this through.

Sure they have.

They're fascists. They want to control the means of production and "distribute" the proceeds as they see fit.

99 posted on 09/07/2012 12:23:47 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: Free ThinkerNY
They Are going into a frenzy and their true colors are showing. Soon, conservatives and corporations will be hated and considered a hindrance to the liberal goal. I read this section of a hitler speech today

..”By so doing we chose a path between two extremes. The one of these extremes was holding our people: It was the liberal-individualist extreme which made the individual not only the centre of interest but also the centre of all action. On the other hand, our people were tempted by the theory of universal humanity which alone was to guide the individual. Our ideals were between the two: we saw the people as a community of body and soul, formed and willed by Providence. We are put into this community and within it alone can we form our existence. We have consciously subordinated all considerations to this goal, have shaped all interests according to it, and all our actions. Thus the National-Socialist world of thought arose which has overcome individualism, but not by cutting down individual capacities or individual initiative, only by asserting that the common interest is superior to individual liberty and the initiative of the individual. This common interest regulates and orders, if necessary, curtails, but also commands.

100 posted on 09/07/2012 12:36:13 PM PDT by HollyB
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