Note: PumaLiberty is in the process of exploring the basis of political (and related economic) woes currently facing our nation. While we will periodically share information created by other organizations, we do not necessarily endorse the content of any material that’s not generated by the PumaLiberty group. The following material is for informational purposes only.
Posted on Wednesday, March 31st, 2010 at 11:50 am
By David DeGraw, AmpedStatus Report
The evidence is now overwhelming. The United States government has facilitated the theft of trillions of dollars of national wealth and 99% of the US population no longer has political representation.
——-I: The Ongoing Theft of Trillions
——-II: Off-the-Books, Off-the-Record
——-III: Osama bin Bank of America
——-IV: New Mafia World Order
——-V: The Goldman Sachs Obama Illusion
——-VI: American Heroes Speak Out on the Financial Reform Ruse
——-VII: Economic Weapon of Mass Destruction (WMDs)
——-VIII: Hank “Pentagon Sachs” Paulson
——-IX: $5.4 Trillion a Year Bullion Market Ponzi Scheme
——-X: Ponzi Nation: Welcome to America, Sucker
——-XI: Economic Shock and Awe
——-XII: Time for a Second American Revolution – The 99% Movement
——-XIII: How You Can Get Involved
Now that I have your attention, I want to make it clear to you that I am being rational and serious when I ask this question: Is it time for law abiding American citizens to stop paying their taxes and start a new government?
Before you roll your eyes and dismiss me as some “extremist,” let me explain the situation to those who are unfamiliar with my past reports. In my report on the Economic Elite Vs. The People of the United States, I lay out the case proving that our economy and tax system has become an organized criminal operation. I defy anyone who spends time researching and analyzing the facts and overwhelming evidence to support this claim to prove otherwise. I invite anyone who thinks I’m wrong to a debate on national television. I’m talking to you, Tim Geithner, Ben Bernanke, Larry Summers, Lloyd Blankfein, Jamie Dimon and President Obama!
I torturously spend 60 plus hours a week researching this and the torrent of devastating news and evidence is mounting by the minute. The staggering level of theft continues unabated. As I am watching this unfold, I am horrified thinking about the severe consequences that have only just begun to reap their toll. Our nation is being raped and pillaged. Our future is going up in flames and our government isn’t even making the slightest effort to put out the fire. In fact, they are purposely pouring gasoline all over it.
“There’s a time when the operation of the machine becomes so odious—makes you so sick at heart—that you can’t take part. You can’t even passively take part. And you’ve got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, and you’ve got to make it stop. And you’ve got to indicate to the people who run it, to the people who own it that… the machine will be prevented from working at all.”
– Mario Savio
So let me take a deep breath and back up for a minute… and explain the urgent gravity of our current crisis.
The first thing people need to understand is that the economic crash wasn’t a crash for the people who caused it. In fact, these financial terrorists are now doing better than ever. In a recent report, titled “Social Inequality in America: Widening Income Disparities,” more evidence of the unprecedented transfer of wealth was revealed:
“As of late 2009, the number of billionaires soared from 793 to 1,011, and their total fortunes from $2.4 trillion to $3.6 trillion…. Despite the crisis, the list of billionaires has grown by 218 people and their aggregate capital has expanded by 50%. This may seem paradoxical, but only at first glance. This result was predictable, if we recall how governments all over the world have dealt with the economic crisis.”
The inequality of wealth in the United States between the economic top 0.5% and the remaining 99.5% of the population is now at an all-time high. The economic top 1% of the population now controls a record 70% of all financial assets. The point here is that while the economic crisis has been devastating for 99% of America, the Wall Street elite are awash in record breaking profits. The most profitable firm in Wall Street history, Goldman Sachs, just had their most profitable quarter in their 140-year history and Wall Street firms issued an all-time record breaking amount in bonuses.
All of this is occurring after giving these firms $14 TRILLION in taxpayer support – that works out to be $46,662 of your hard-earned money. That’s $46,662 for every man, woman and child in this country. If you have a family of four, sorry, your future just got robbed and you and your children just lost $186,648!
So what are all these firms doing with these record-breaking profits? Are they returning them into the tax system in which they came from, the tax system that was looted just to keep their scam running?
Let’s start with Wells Fargo. After being bailed out with our money in 2008, their top five executives DOUBLED their compensation and each one of them made over $11 million in 2009. Wells Fargo CEO John Stumpf made off with a cool $21.3 million last year.
And now comes news that Bank of America and Wells Fargo will pay zero, yes ZERO in federal taxes for 2009. Bank of America will net a $3.6 BILLION benefit from the federal government in 2009. Wells Fargo, after $8 BILLION in earnings for 2009, will net $4 BILLION from the federal government.
So you and I are working our asses off just to make ends meet, paying 30% of our limited income in taxes, and gizillionaire John Stumpf’s company is paying ZERO in taxes so that he can personally swipe another $21.3 million of tax payer funds.
Al Capone is a dime store thief compared to this guy!
Well, to be fair, Mr. Stumpf is just a small-timer himself in this all-time greatest heist.
JP Morgan Chase made $12 BILLION in profit in 2009, as a direct result of our tax money – yes, I need to keep repeating this fact. These are profits that would not exist if it weren’t for our tax dollars.
It’s also important to point out that this is just the level of theft that has already occurred. However, as I also can’t stress enough, the theft still continues without any let-up.
Now comes news that JP Morgan is on the verge of getting a $1.4 BILLION tax refund! Yes, you heard me right, a $1.4 BILLION TAX REFUND. But JP is not alone in this latest theft. In total, the financial terrorists are due to receive $33 BILLION IN TAX REFUNDS!
Do you comprehend how depraved it is to give these people another $33 billion in tax refunds? I assume that they’re thinking that after stealing $14 TRILLION, another $33 billion really isn’t all that much. After all, last year, Goldman Sachs, the most profitable firm Wall Street history, only paid 1% in taxes, so what’s another $33 billion kickback among friends?
Let’s be clear about this latest $33 billion of which the US tax system is being robbed. What could we do with $33 billion?
For one, we could put over one million unemployed people back to work and pay them the average national median wage for the next year. Add the record-breaking $150 billion in bonuses (our tax money) that Wall Street handed out this past year to the $33 billion and guess what? We can now put over six million people back to work making the average annual wage! Do you think that would stimulate the economy? Green shots galore.
But why do that? Jamie Dimon needs another new 40,000 square foot mansion and Goldman Sachs needs to upgrade their fleet of luxury jets filled with the finest wine, champagne, cigars and hot tubs.
Maybe we could use that $33 billion to save some of the hundreds of schools that are being forced to close this year due to devastating State budget deficits. Or maybe pay the thousands of teachers who just found out that their jobs have been cut. How about using that money to feed the 50% of US children who need to use food stamps during their childhood to eat? How about using it to give a raise to the 15 million US workers who work 40 hours or more a week and still fall below the poverty line.
Wait, I know, how about helping the millions of Americans who have been foreclosed upon due to JP Morgan’s predatory lending schemes and illegal subprime “liar’s loans.”
And don’t even get me started again on how we can better use the $14 TRILLION that Wall Street made off with…
People of the United States to Obama: Hello! This is happening on your watch!
Change We Can Believe In!
Oh, but wait… it gets even better. This just in from the Roosevelt Institute:
De facto bailout for Freddie and Frannie
Did the Fed and the Treasury orchestrate a de facto bailout of Fannie Mae and Freddie Mac — at public expense and sans Congressional approval? John Hussman thinks so. He provides a detailed account of just how 1.5 trillion dollars got diverted to Freddie and Fannie — money that we can all kiss goodbye. American taxpayers, it seems, have gotten the middle finger once again.
And then in comes this little known, highly underreported news item: U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt
“After years of winks and nods, there’s no doubt that Fannie and Freddie now enjoy an explicit guarantee, according to most observers. The U.S. government placed Fannie Mae and Freddie Mac in conservatorship in September 2008: ‘This means that the U.S. Taxpayer now stands behind $5 trillion of GSE debt,’ according to the Congressional Research Service.”
Hank “Pentagon-Sachs” Paulson’s right-hand man Tim Geithner, now Obama’s hand-picked Treasury Secretary and point man for the continued looting, recently assured his friends on the Financial Services Committee: “We will do everything necessary to ensure these institutions have the capital they need to meet their commitments.” Geithner then acknowledged that US taxpayers will take “very substantial” losses on this bailout.
Yep, Obama’s Chief-of-Theft, Rahm “Freddie Mac Daddy” Emanuel’s former company now has unlimited ability to rob taxpayer money and is making off with $5 TRILLION. And I thought Cheney’s Halliburton was as bad as it could get.
Yes We Can… Get Robbed Even More!
But don’t worry, if you thought the past two years were bad, the history books will recall them as a walk in the park compared to what is coming our way. You don’t have trillions looted from the economy and continue to just keep going about your life business as usual. I wish I was wrong, and I wish this was just my opinion, but facts are facts and every societal and economic indicator says things are going to get worse, MUCH WORSE.