Financial Services Forum is concerned about the machinery of government...
Posted on 10/19/2012 12:52:47 PM PDT by 92nina
Today a letter was sent to the President and members of Congress by 15 CEOs from some of the largest financial institutions in the U.S. The 15 CEOs who signed the letter represent the Financial Services Forum, a non-partisan organization that deals specifically with financial and economic policy. In the letter, they urge for the avoidance of the coming Taxmageddon and warn of the dire effects that inaction would have on the economy: “The consequences of inaction—for stability in global financial markets, for economic growth, for millions of Americans still without work, and for the financial circumstances of American businesses and households—would be very grave.”
References are made regarding what credible institutions have said concerning Taxmageddon, including the Federal Reserve’s warning that Taxmageddon would cause a recession “and about 1.25 million fewer jobs would be created in 2013.” Moody’s potential downgrade of the U.S. over fiscal negotiations is also mentioned in the letter and the downgrade's negative effect on interest rates and global markets.
President Obama’s failed economic policies that have largely contributed to the fragile state of the economy is a big concern for CEOs when considering Taxmageddon’s consequences: “at a time when economic growth is less than 2 percent, and with nearly 25 million Americans either out of work or underemployed, the still-fragile U.S. economy cannot sustain—and the American people do not deserve—the impact of more gridlock in Washington.” For more information on how Taxmageddon will affect your family’s budget click here.
Read more: http://www.atr.org/ceos-warn-congress-grave-consequences-taxmageddon-a7256#ixzz29mBlaf3N
If that SOB wins again, Ima convert my 401K before December 31 and hide it in Simmons National Bank and Trust (Simmons mattress company, that is).
If Obama wins then the GOP will filibuster anything he proposes. If Romney wins then the Democrats will filibuster anything he proposes. Either way we’re hosed.
I can either have a company in the US and pay massive taxes on all monies received (35 + 5 + 6.1 + state + ss x 2) or have the company based in a low tax country (low == 10%) and only pay US taxes on (wages + bonus + distribution) pushed to the employee... leaving money in the corporate account for the following year
hmmm... tough choice
Americans get paid... and the company has funds for the following year
of course, the govt doesn’t get it’s pound of flesh to buy votes with (or clunkers, or 0bamaphones, or etc)
I am very scared “Read my lips” Romney will sign off on a huge tax increase.
A good reason for the new Senate to rewrite the filibuster rules. Right now, they require a supermajority that is not provided for in the Constitution. Filibusters should be allowed for a limited duration, but then a vite must be allowed. This is especially true with appointments.
I wouldn't be the least bit surprised if he did. I honestly believe that Romney may be the first sitting president in 160 years not to be renominated by his party.
That way he can take from everyone according to their abilities, and give to those who deserve it, and starve the ones who don't.
Dear President Obama,
We officially declare ourselves traitors and enemies of these United States of America. We tried to destroy the economy with willful greed and mindnumbing incompetence.
Please intern us now at Guantanamo for our guilt and for the future safety of the American economy.
Yours Sincerely,
The Financial Services Sector
With the new $100 bills coming out next year, you might have a problem.
True, but it won't happen. One, that assumes that the GOP takes the Senate, not a done deal. Two, under the Senate rules even rule changes can be filibustered. Three, even if the GOP ran the Senate I don't see Mitch McConnell having the spine to use the nuclear option to force a rule change by simple majority vote.
Lotsa 20s then
Two, Republicans will win the Senate. It is a lock.
Three, you are right, the Republicans won't do it. They are too cowardly. The Washington Post will say bad things about them.
I believe you are wrong on that.
Two, Republicans will win the Senate. It is a lock.
Nothing is a lock.
Three, you are right, the Republicans won't do it. They are too cowardly. The Washington Post will say bad things about them.
If you were right on number one then it'd be automatic. But Senate rules apply until they are modified or revoked regardless of whether it's a new Senate or not. So there is no way filibuster rules will change.
Financial Services Forum is concerned about the machinery of government...
It is a fundamental principle that a newly constituted Senate, with 20 or more new members, is not bound by whatever agreement the prior Senate chose to use as its organizing principles. The losing side may say otherwise and scream about it. The winners can vote, get a majority, and change the rules however they want.
Better convert it to precious metals like brass and lead and put it in the Dirt Bank and Trust.
The Senate Standing Rules apply until repealed, regardless of change of Senate. Or even change of senate leadership.
That does not bind new members unless they choose to be bound because the wapo and ninnies like you tell them to. We have this discussion every two years. The bottom line is, the organizing resolution can be passed by majority vote, and no court can review the rules.
I'm amazed that the U.S. Senate hasn't contacted you by now to come help them get their house in order. Obviously you have been hiding your genius too long and too well.
And here's the </sarcasm> tag. I can't imagine you recognizing it otherwise.
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