Posted on 06/24/2015 9:17:22 AM PDT by Olog-hai
Congressional Republicans are poised to deal a sharp blow to their traditional allies in the business community by allowing the federal Export-Import Bank to go out of business at the end of the month. But it may only be temporary.
The 81-year-old bank is a little-known federal agency created during the Depression that makes and guarantees loans to help overseas buyers purchase U.S. products, from airplanes to bridges to baby clothes. Over the past year it’s also become a surprising test of GOP purity, as tea party-backed lawmakers and outside conservative groups have denounced the bank as crony capitalism and vowed to get rid of it, pressuring fellow Republicans to go along. […]
Supporters at the Chamber of Commerce and other business groups disagree, arguing that the agency helps many smaller companies and is necessary to keep U.S. businesses competitive, especially because key foreign competitors like China have generous export credit agencies helping their homegrown industries. …
(Excerpt) Read more at hosted.ap.org ...
If we’d repeal the 16th and fund our government with a border-adjusted mechanism, this wouldn’t be a problem.
===> national retail sales tax
no agenda in this article...
so its a bad thing we’re not lending money to international companies so they can buy American goods?? sounds almost like purchasing your own debt...
Why, to keep the welfare state going?
Time to let this Depression-era relic die. Forever. No resurrection.
No, to slow it down and stop it.
GOP-e to the rescue, I’m sure.
Oldplayer
Got no idea what you’re talking about
Nothing slows it down. It has to be stopped cold.
Give the federal government a sales tax and they still have a tool to increase the pain.
OK how do you stop it cold?
It makes for good theater now but in the end they will give it new life.
Low tarriff on all imported goods with no variation and no exception. If the 16th is not repealed then a 9% flat earned income tax (the SocSec tax is an income tax and has to go, too) with no exceptions, exemptions, credits, deductions, from the first dollar earned. The taxpayer has to write the check monthly or every paycheck or whatever, no withholding.
SURPRISE---GUESS WHO ELSE WAS POCKETING BIG-TIME FROM BOEING DEALS?
Clinton Foundation Donors Got Lucrative Weapons Deals From Hillary's State Dept
International Business Times ^ | May 26, 2015 | By David Sirota / FR Posted by Oldeconomybuyer
Even by the standards of arms deals between the United States and Saudi Arabia, this one was enormous. A consortium of American defense contractors led by Boeing would deliver $29 BILLION worth of advanced fighter jets to the United States' oil-rich ally in the Middle East.
Under then Sec-of State Clinton, the State Department approved $165 billion worth of commercial arms sales to 20 nations whose governments have given money to the Clinton Foundation, according to an IBTimes analysis of State Department and foundation data.
That figure -- derived from the three full fiscal years of Clinton’s term as Secretary of State (from October 2010 to September 2012) -- represented nearly double the value of American arms sales made to the those countries and approved by the State Department during the same period of President George W. Bush’s second term.
American defense contractors also donated to the Clinton Foundation while Hillary Clinton was secretary of state and in some cases made personal payments to Bill Clinton for speaking engagements.
Such firms and their subsidiaries were listed as contractors in $163 billion worth of Pentagon-negotiated deals that were authorized by the Clinton State Department between 2009 and 2012. (Excerpt) Read more at ibtimes.com ...
LOVE the no withholding! Withholding is a socialist tool to minimize the pain of taxes.
Any income tax will still not be border-adjustable. That would still put our producers at a 9% disadvantage vs imported goods - AND - would put our exports at the same disadvantage overseas as our tax costs are built into US made goods.
The 16th has to be repealed. We’re gonna have taxes so the least intrusive and fair IMO is a sales tax on all retail consumption...including imports. It’s the definition of excise our founders used until 1913 or so. And an excise is border-adjustable - so our goods leave our shores withOUT tax included - AND - imports must have the excise levied on them.
drip ..drip..drip splash... splash...SPLASH!
Is this one new or already on the list?
Once the Clintons are out of power (and there's no potential power on the horizon) none of these corrupt countries will give them a dime for a speech.
Will add to list.
The Chamber of Crony Fascism wants it so it will be renewed. Corporations do not want to compete anymore if the government can destroy the competition or subsidize their profits.
The Chamber of Crony Fascism is just as addicted to taxpayer dollars as the welfare queens of the inner cities. There is no difference except for the dollar amounts and locations.
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