Mind and Destiny

“I make no pretension to patriotism. So long as my voice can be heard ... I will hold up America to the lightning scorn of moral indignation. In doing this, I shall feel myself discharging the duty of a true patriot; for he is a lover of his country who rebukes and does not excuse its sins. It is righteousness that exalteth a nation while sin is a reproach to any people.”- Frederick Douglass

Location: Delhi, N.Y., United States

The author and his webmaster, summer of 1965.

Wednesday, July 13, 2016

Makes No Sense

The Obama administration has made sure, that our economy works for everybody by strengthening and not weakening the rules that were designed to keep Wall Street in check.  He has also gone after those who avoid paying their fair share of taxes.
After our biggest banks were bailed out in 2007, President Obama made sure that they paid back every dime with interest.  Congressional Democrats had passed the toughest Wall Street reforms in history to make sure our government wouldn’t need to do that again.  Today, the biggest banks have to carry twice the amount of capital than they did before the banking crisis.  Our executive branch of government has been provided with new tools to guard against another “too big to fail” situation.
A new consumer watchdog agency is in place, that has already secured more than $10 billion for families who were cheated by irresponsible lending or irresponsible credit card practices.
Ever since those laws were passed, the big banks, and congressional Republicans have teamed up to try to roll back those rules.  The idea that citizens, who care about our economy would vote for a presidential or congressional candidate, who wants to roll back the rules, that were put in place to prevent another economic recession makes no sense.
The Obama administration has been cracking down on tax loopholes, like the ones that allow corporations to change their addresses, and claim that they’re an overseas company, so that they don’t have to pay taxes.  Our government has also cracked down on tax cheats who try to hide their wealth in offshore accounts in order to avoid paying taxes.
Congressional Republicans have opposed President Obama’s efforts to close those loopholes.  When tax cheats don’t pay their fair share in taxes, it means you’ll eventually be paying more. 


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