Wednesday, December 16, 2015
CONGRESS DEMANDS $650 BILLION TAX BREAKS FOR WALL STREET
IT ISN'T JUST THE GOP THIS TIME, BUT THE REPUBLICANS DO WANT THE LION'S SHARE OF THAT $650 BILLION TO GO TO THEIR BUDDIES IN BIG BUSINESS AND THEY DEMAND AN END TO THE BAN ON OIL EXPORTS.
THINK ABOUT IT...IF WE ALLOW THE GOP'S FAVORITE GROUP, 'BIG OIL', TO EXPORT AGAIN, THAT WILL DEPLETE U.S. STORED OIL AND ALSO DRIVE PRICES UP HERE AT HOME.
THE ONES WHO WILL PROFIT MOST FROM THAT ARE THOSE WHO WILL GOUGE US ALL ONCE AGAIN AT THE PUMPS, WHEN WE NEED HOME HEATING FUEL FOR THE WINTER AHEAD, THOSE WHO SELL ANYTHING THAT HAS TO BE TRANSPORTED BECAUSE GAS AND DIESEL WILL BE HIGHER, GIVING THEM AN EXCUSE TO JACK ALL PRICES UP AGAIN.
THE BIGGEST CAMPAIGN CONTRIBUTORS, THE GOP'S FAVORITE "JOHNS", BIG OIL.
WALL STREET WINS...AGAIN AND AGAIN AND AGAIN, AND YOU LOSE, AMERICAN WORKERS!
"Republicans' tax extender bill provides hundreds of billions of dollars in special interest tax breaks that are permanent and unpaid for.
These massive giveaways to the special interests and big corporations are deeply destructive to our future."
In return for a repeal of the oil export ban, Democrats won temporary tax breaks to boost wind and solar development, Representative Ann Wagner said. (WAGNER, A GOP REPRESENTATIVE FROM MISSOURI)
SO, REPUBLICANS GET PERMANENT TAX BREAKS FOR THEIR BED BUDDIES AND THE DEMS GET TEMPORARY BREAKS FOR THEIRS.
STUPID, TRAITOROUS DEMS AND MAJORITY RULES, TRAITOROUS 'PUBLICANS.
WHAT A DAMNING COMBINATION WE HAVE ON OLD CAPITOL HILL.
Other elements of the two bills that are expected to move through Congress in coming days, according to Republican lawmakers, include:
- A $650-billion package extending a package of tax breaks over 10 years, with $560 billion of the total in permanent extensions, including for business research and development.
Many Democrats were expected to oppose this measure, saying it costs too much and is too heavily skewed toward corporate interests. But it does include a provision Democrats sought, making a child tax credit permanent.
- Changes to a visa waiver program that will tighten travel curbs on those who have been in Iraq and Syria;
- No "bailout" for Puerto Rico, which is experiencing fiscal difficulties;
- Provisions to encourage companies to share cyber data with the U.S. government in its fight against hackers;
- The "179" deduction, a tax break small business owners use to buy new equipment, is being made permanent;
- A two-year delay in a 2.3 percent excise tax on medical devices and a "Cadillac tax" on high-cost healthcare plans. Representative Tom Cole said the tax package also would include a one-year delay in a tax on health insurance providers.
He said it also extends for another year a provision limiting how much the government can spend on "risk corridors" protecting insurers against financial losses under Obama's landmark healthcare law;
- A five-year renewal of a program to help first responders and others who suffered illness from exposure to toxins at the World Trade Center site destroyed in the Sept. 11, 2001 attacks.
Before Congress debates these long-term bills, it is expected on Wednesday to pass another stop-gap funding bill giving lawmakers until Dec. 22 to complete their work. Without the temporary measure, federal funding for a range of government programs expires at midnight on Wednesday."
THE SWINE HERD IS GATHERING AT THE TROUGH... LET THE PORK BARREL SPENDING, THE WHEELING AND DEALING, THE SCREWING-OVER OF AMERICA BEGIN AFRESH!
BEND OVER AND SMILE, AMERICANS...HERE IT COMES AGAIN!
PAY CLOSE ATTENTION TO THE FOLLOWING:
"A congressional aide said negotiators were likely to block a proposal to revise certain legal protections for bondholders, a provision that had been pushed by Senate Democratic leader Harry Reid, partly to ease the bankruptcy of casino giant Caesars Entertainment's operating unit."
OLD HARRY IS LOOKING OUT FOR HIS BIG CONTRIBUTOR, NOT YOU WHO PUT HIM IN OFFICE...TAKE THAT, VOTERS!
WALL STREET HAD A GREAT DAY AFTER BEING ASSURED THE DAMNABLE FEDERAL RESERVE WILL HIKE THOSE RATES AT LAST.
Wall Street rose for the third straight day on Wednesday ahead of a widely anticipated interest rate hike by the Federal Reserve later in the day.
Higher interest rates make loans more expensive, crimping profit margins. Banks, however, will benefit.
Traders see an 81.4 percent chance of a rate hike, according to the CME Group's FedWatch tool.
The U.S. central bank is seen raising rates by a token 25 basis points, when it announces the outcome of its policy meeting at 2 p.m. ET (1900 GMT), followed by a press conference by Chair Janet Yellen at 2:30 p.m. ET.
The Fed is expected to move gradually on subsequent rate hikes after the initial liftoff, according to a Reuters poll. That will help soothe jittery markets, which have been roiled recently by a rout in crude oil prices and a fall in the Chinese yuan.
DANCING AT THE STOCK MARKET
At 12:35 p.m. ET the Dow Jones industrial average was up 32.4 points, or 0.18 percent, at 17,557.31, the S&P 500 was up 7.41 points, or 0.36 percent, at 2,050.82 and the Nasdaq Composite index was up 14.77 points, or 0.3 percent, at 5,010.13.
Seven of the 10 major S&P sectors were higher, with the utilities index's 1.85 percent rise leading the advancers.
Energy and material stocks were down as crude oil prices fell on fresh evidence of growing global oversupply. [O/R]
DuPont's 2.9 percent fall weighed the most on the Dow, followed by a 1.7 percent fall in Chevron.
The S&P 500 index showed nine new 52-week highs and eight new lows, while the Nasdaq recorded 30 new highs and 69 new lows.
$$$ KA-CHING, $$$ KA-CHING, $$$ KA-CHING!
HOW SOON BEFORE ALL WHO TOOK OUT LOW INTEREST LOANS CAN EXPECT TO FALL PREY TO THEIR GREEDY LENDERS?
NOT LONG, AMERICANS, NOT LONG.
IT SHOULD BE A QUICK "MERCY KILLING" FOR ALL WHO WILL SEE THOSE MONTHLY "REPAYMENTS" SINK THE SHIP.
HIGHER INTEREST FOR BORROWERS, OIL EXPORTS RIDE AGAIN, TAX BREAKS FOR THEIR 'JOHNS, A LOT OF PORK'...BOY, OH, BOY, THE PIGS IN CONGRESS WILL BE CELEBRATING ALL OVER THE PLACE, RIGHT?
Posted by Waninahi at 1:21 PM