In Washington D.C. there is another storm
coming again .
House Speaker Nancy Pelosi backed up the plan requirement that banks report information on any account with $600 of total activity over the course of a year will stay in Democrats' reconciliation bill in some form, despite public backlash.[ I am going to talk about this in the Yellen part below] (1)>>NOW I WONDER if the IRS would look into Pelosi's own financial dealings ??? The current salary of a Speaker of the House sits in the low six-figures, yet (2)>>Pelosi is one OLD of the richest members of Congress. Now Pelosi husband reportedly purchased up to $1 million in stock from electric car giant Tesla just before Biden announced electric car mandate. Ethics watchdog says appears to be 'insider trading'. Paul Pelosi reportedly purchased up to $1 million in stock from electric car giant Tesla last month. I am always curious about the average Democrat voter as to why there so numb that their elected Democratic representatives are a list of corruption . NOT ALL DEMOCRATS are BAD , its just the few elites who run the country , like Pelosi that don't represent the average American . There own wealth boggles the mind sometimes , when the (3)>>RICH DEMOCRATS accuse the RICH for not paying THEIR FAIR SHARE of TAXES but they themselves DON"T PAY . Again Pelosi's wealth is staggering . The Pelosis own several pieces of real estate including a mansion in Napa Valley valued up to $25 million, a DC waterfront condo worth over $2 million, and a red brick mansion in California's Pacific Heights. Her husband owns commercial properties in San Francisco "combined, worth up to $50 million". The electric car stock is the part of the ethics issue.The move by Pelosi was "corrupt and unacceptable," TakeBack.org Executive Director John Pudner claimed in an interview with the Washington Times . "Even if the actual charges are not provable beyond a reasonable doubt or trigger SEC action, the timing of trades with potential insider information always looks bad," a former federal prosecutor told the publication. A spokesman for the speaker said that "her husband, not the speaker, made the Tesla bets and the speaker's political relationships were irrelevant," the Times reported. (4)>>Members of Congress are legally allowed to commit inside trading. Congress passed it in the 90s I believe stating they weren’t subject to insider trading laws. Basically there is going to be some type of issue that congress will be made aware of and so they make moves before it’s made public. Unbelievable how Congress can exemp themselves from laws that Congress makes, one of them being a law against insider trading. That's quite a racket those dudes got going on up there. I do find many of her views and attacks on other wealthy people to be highly hypocritical given her financial standing. She does the same stuff she demonizes outspoken capitalists for. And after that hair salon fiasco clearly epitomizes the "rules for thee but not for me" mantra of the wealthy (Democrat or Republican).So her wealth, I have no problem with. Her actions and occasionally professed positions, particularly her attacks on other wealthy do not align with her own standing/actions. It shouldn't come to anyone's surprise that she's a multi-millionaire. I find it troubling and at the same time not surprising. There's a lot of money floating at the top. Who knows where it's all coming from or who is exactly pulling the strings to who. the people who lecture us on how the rich are evil are actual rich themselves, and the rules they make apply to others but not themselves? Shocker.
2. YELLING at Yellen !
In Regards to the Pelosi hypocrisy . This is connected , now the Biden Administration wants the IRS to "spy" on you . (5)>>GOING AFTER THE RICH IS JUST AN EXCUSE . If you're trying to target transactions of $3 million then you make that the reportable limit. All this tells us is that they are targeting the people who make $600 transactions. They say they are targeting billionaires but their actions show us that they're lying. Yep. $600 is so low. I think the idea is they want to have access to everyone’s banking information. Treasury Secretary Janet Yellen said on broadcast of “CBS Evening News” that the proposed $600 IRS reporting requirement for banks is “absolutely not” a way for the government to spy on Americans.Anchor Norah O’Donnell asked, (6)>>“You want banks to report transactions of 600 dollars or more? That is what the IRS wants. Does this mean that the government is trying to peek into our pocketbooks? If you want to look at $600 transactions?”Yellen replied, “Absolutely not. I think this proposal has been seriously mischaracterized. The proposal involves no reporting of individual transactions of any individual. The big picture is, look, we have a tax gap that over the next decade is estimated at $7 trillion. Namely, a shortfall in the amount the IRS is collecting due to a failure of individuals to report the income that they have earned.”O’Donnell said, “But that is among billionaires, is that among people who are transfers 600 dollars?”Yellen said, “No, it tends to be among high-income individuals whose income is opaque, and the IRS doesn’t receive information about it. (7)>>If you earn a paycheck, you get a W-2 the IRS knows about it. High-income individuals with opaque sources of income that are not reported to the IRS, there is a lot of tax fraud and cheating that is going on. All that is involved in this proposal is a few arrogate numbers about bank accounts, the amount that was received in the course of a year, the amount that went out in the course of a year.”Yellen then gave an example."If someone reports an income of $10,000, and they had $3 million go out of their checking account, that tells the IRS that’s an individual that you might audit."Wait, what. Why would you set the reportable level at $600 and then use $3 million as an example? I don't understand how she's explaining this away. All this will do is hurt the little guy, people living paycheck to paycheck, and lots of minorities. Shows you that the government actually doesn’t care about anyone, let alone the people Biden falsely panders to. This country is over, I don’t think there is anything we can do to save it. America is dead.
3. California's Gas Powered Equipment Ban.
SO MANY THINGS TO BRAGG ABOUT . I don't know if this is the WORST thing you can do to devastate the economy even more so in the name of (8)>>CLIMATE CHANGE . California will always be in the NEWS . It's Governor just signed the worse piece of sh**t legislation ever . It's ramifications are still unknown . Its likely going to put a lot of gardeners out of business , cause a disruption of equipment all over the state . While to comply with the new law will be 2024 . It's unrealistic that all the gas powered equipment could be replaced with electrical Electrical equipment comes with problems like battery charging .(9)>>California's electricity grid is an aged, barely capable network right now. Multiple wildfires started due to old and poorly maintained equipment, rolling brown outs and black outs in order to meet demand and a climate that will only get hotter year in year, demanding more power from the grid to run AC systems... if everyone in the state switches to electric vehicles charged from the grid, how will it cope?However, I could see a lot of the landscaping companies struggling with this as the batteries do not last long enough to cut multiple yards. Charging times are long and may require gas generators. All that said, given the water issues out that way, maybe people should stop watering their grass anyway??Whether big of small, if a job requires the use of chain saws to get through it, then using electric ones with limited charge isn't going to work whether the business is large or small.I suppose either could run a battery charger that has dozens upon dozen of batteries, but at some point, whether the company is big or small, that is not cost efficient.What is likely to happen is that all companies will jack up prices and consumers will balk at the increased expense and the state will have more issues with fallen trees that disrupt electric supply, etc. All this is to say that this is simply (10)>>California politicians doing anything to look like they're doing something. This solves zero problems and only adds to more hazardous waste ending up in our landfills. If they did this in 15 years when motor technology has advanced and battery tech isn't so despicable I would 100% be on board. (10.1 )>>Meanwhile a lot of landscaping businesses will GO OUT OF BUSINESS because they cant afford electrical replacements , (10.2)>>PLUS a lot of it is MADE IN CHINA! Maybe the technology will have closed the gap in the near future, but, if not, then the legislature should look at carving out exemptions for landscaping companies, etc.
4. Biden's Falling Approval ratings !!!
President Joe Biden's poll approval ratings are tanking . Data from the Morning Consult U.S. presidential approval polling show that (11)>>Biden’s rating was once as high as 56% but has now fallen to 47%. The recent Quinnipiac poll also shows the president received the lowest score from the American people on his job performance since taking office. His 42% approval rating is driven by low marks on the economy, taxes and immigration.Voters may want to see more from Biden, but his declining popularity has further complicated Democrats’ efforts to enact sweeping legislation, including a $3.5 trillion infrastructure bill that would massively expand America’s safety net.Honestly it has been a bad couple weeks. (12)>>LOL !!! but lately they've made some bad calls. They should have listed to Pelosi straight away and issued the moratorium extension without dragging it over days and making it news cycle.They should have done a few more executive actions or foreign policy events and not put so much focus on this infrastructure week deja vu that goes on and on every week and never ends. People get tired of that shit.Whats going to hurt him is congress not getting things done and leading to voter apathy. The new redistricting and gerrymandering combined with voter suppression already gives Republicans a massive advantage in 2022 add voter apathy and it gets worse.That explains why Biden didn't start out with a high approval rating, but it doesn't explain the shift. My guess is that he started out his term with vaccines rapidly going into arms, less shitter twitter, and a feeling of an end in sight once the country got vaccinated. Now he's getting hurt by a combination of some not great images coming out of Afghanistan and a resurgent COVID (and restrictions) due to the Delta variant.If you think Joe Bidens approval rating is low now, wait until people figure out that the 15% global tax actually takes in less tax U.S. revenue and was written by tech companies trying to do away with digital service tax. Biden and Yellen even went around the globe on U.S. tax paper money and pushed it.
5. I'd Quit Before I get the VACCINE !
(13)>>PEOPLE ARE QUITTING EVERYWHERE ! The Vaccine mandate may have SLOWED DOWN the American Economy . The current supply chain crisis is one of the "side effects" of the mandates.Surveys have shown that as many as half of unvaccinated workers say they will leave their jobs if they're forced to get the COVID-19 shot. We are living in rather strange days , my friends . Last year we had massive layoffs attributed to the Covid lock -downs . Millions of people were let go as businesses shut down over the "regulations" . It was a massive over kill to the economy . REMEMBER THIS !!! Before the pan[plan]demic unemployment was just over 3 % . The American economy was booming with wages going up under Donald J Trump . NO one can argue who destroyed the American economy, it was the Democratic Blue states with their heavy handed close down polices . Now it appears that the people laid off last year DON"T WANT TO GO BACK TO WORK . Right now in this mix we have people who just want to QUIT over the vaccine . It looks to me that its purely a psychological reason as a reaction with a unpopular U.S. Government right now .
NOTES AND COMMENTS:
(1)>>NOW I WONDER if the IRS would look into Pelosi's own financial dealings ??? "The bulk of the Pelosis' money comes from investments in stocks and real estate. Operating through Financial Leasing Services, his San Francisco investment firm, Paul Pelosi owns stock in companies including Microsoft, AT&T, Cisco Systems, Disney, Johnson & Johnson and a variety of tech stocks. Real estate investments include a four-story office building at 45 Belden St. in the Financial District, office buildings on Battery and Sansome streets near the Embarcadero, a building housing a Walgreens drugstore near Ocean Beach and other commercial property in San Anselmo. Other investments include a St. Helena vineyard worth between $5 million and $25 million, a $1 million-plus townhome in Norden (Nevada County), and minority interests in the Auberge du Soleil resort hotel in Rutherford, the CordeValle Golf Club in San Martin, and the Piatti Italian restaurant chain." Look at the date of that article 2007. [see https://www.sfgate.com/politics/article/Pelosi-s-husband-prefers-a-low-profile-2660253.php ] (2)>>Pelosi is one OLD of the richest members of Congress. Still, despite decades as a civil servant, Pelosi’s net worth puts her at No. 6 on the list of richest members of Congress in 2020, according to the Center for Responsive Politics. While her salary is $223,500 annually, most of her wealth stems from her husband’s business and their investments.The majority of Pelosi’s wealth is attributed to the success of her venture capitalist and real estate tycoon husband Paul Pelosi, whom she married in 1963. His firm, Financial Leasing Services, has a track record of wise investments in companies such as Facebook, Apple and the Walt Disney Co. According to a July 2021 report by Pulitzer Prize-winning journalist Glenn Greenwald, the Pelosis traded more than $33 million of tech stocks in the past two years. (3)>>RICH DEMOCRATS accuse the RICH for not paying THEIR FAIR SHARE of TAXES but they themselves DON"T PAY . Republicans often get accused of favoring big business, but data recently released by the Internal Revenue Service shows that a large majority of those making $500,000 or more actually vote Democrat.Recent data shows the Democratic Party’s transition from the party of the working man to the party of the rich is complete. IRS data shows that Democrats represent 65 percent of taxpayers with a household income of $500,000 or more while 74 percent of taxpayers in Republican districts have household incomes of less than $100,000. President Biden’s effort to pass the largest tax increase in U.S. history is based on the verifiably false claim that Americans with high incomes don’t pay their “fair share.” In no other country do the rich bear a greater share of the income-tax burden than they do in the U.S.This is great. While we are at it maybe the IRS can explain how members of Congress who have income of $200k have net worths of tens of millions of dollars?The proposal includes nearly $2.1 trillion in increased tax revenues, the nonpartisan Joint Committee on Taxation estimated on Monday. Democrats say those increases will go a long way to funding President Biden’s ambitions to expand the federal government’s role in education, health care, climate change, paid leave and more.(4)>>Members of Congress are legally allowed to commit inside trading. Congress passed the law in 2012 to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings. A key provision of the law mandates that lawmakers publicly — and quickly — disclose any stock trade made by themselves, a spouse, or a dependent child. But many members of Congress have not fully complied with the law. They offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant.New rule: age limits on politicians - why trust people that have already made millions that want to make it harder for you to make your money? They want to change the rules after it doesn’t suit them anymore. Of course, they want to know every dime you spend but the Fed can make trades and policy that affects those trades. Huh?(5)>>GOING AFTER THE RICH IS JUST AN EXCUSE . Class envy is not caused by the rich. It is caused by politicians and reporters who want to pander to the largest group of voters, and to have someone to blame for the ills of the world. You can't blame the poor people for being poor, but you can blame the rich, chastise the rich, tax the rich. There will of course still be poor people .Blaming anyone for else for one's own condition takes the ability to change that condition out of one's own hands. Why be a victim especially a self induced one. The rich are always getting blamed. Get Real!! Somebody has to do the grunt work or there is no rich. That's life. Get over it!!! Get A JOB!!!! Go To Work and stop expecting the taxpayers to feed, cloth and give you health care. Take care of yourself and the money will take care of itself. Stay in school and get an education. l It's free in this country - all you have to do is show up, which most don't want to do. The bottom line is stop bellyaching!!!I don't care about the rich. Let them get rich. I care about the middle class. We are being penalized for productivity, saving, and responsible investing by the bankers and their cronies at the Fed, through fractional reserve banking and Keynesian policies. Even though the economy sucks for the average Joe, corporate profits as a percentage of GDP are at an all time high. Low interest rates create financialization of the economy where the big boys are encouraged to gamble with our deposits... they front run the rallies, and whatever losses are left after they front run the dips are rolled over courtesy of the taxpayers. (6)>>“You want banks to report transactions of 600 dollars or more? " . Inflows or outflows of $600 happen to the accounts of rich people only? The vast majority of people on Social Security get an "inflow" to their bank account over $600. This law would mean almost every retiree is scrutinized as well as almost everyone with a full-time job whose pay is deposited in a checking account.on a retiree's income, pay as much as I can through credit cards because I get 2% to 5% cash-back and my monthly statements, which I pay in full, are usually over $600.If this is passed, overworked IRS people will be auditing people they barely had to analyze ahead of time because of the huge number of people being reported to them!(7)>>If you earn a paycheck, you get a W-2 the IRS knows about it. The Democrats promised to tax the rich. Unfortunately, even if you tax every single penny of every rich person, it won't be enough to pay for trillions of dollars in spending. They have no choice but to tax old people's retirement savings and now even poor people's bank accounts.How about instead of going after average people, investgiate government waste instead?After all the headlines about the wealthiest people evading taxes, one would think that the administration's biggest priority would be to re-fill and add to all of the auditor postions that have been lost in past Republican administrations. Include a bunch of forensic auditors who can unwind all of the arcane ways in which money is hidden. Why waste personnel resources going after little fish and pissing off average people and the banking industry which you would want to be your first line of defense and best allies.But they will go after your cash too. Pelosi and others want a digital currency. If that ever happens, you'll have to convert all your cash or it will become worthless after a certain date.This latest failing plan to monitor any account at $600 transactions or more will only hurt the middle class and lower economic class people. In addition it will create a huge bloated staff at the IRS that will never recover the revenue to pay for the staffing increase much less bring in additional revenue for the Biden social engineering agenda. As for the wealthy, they have tax attorneys that will be able to shield their clients assets and gains to their advantage - and all legally Gold and other commodity prices would then skyrocket because they would then become a better place to park your cash.(8)>>CLIMATE CHANGE . The California ECONOMY is going to go BUST ! Because of it's climate response restrictions, without ant instate manufacturing on replacing gas cars and gas powered equipment . California will be all alone , dependent on Chinese manufacturing to replace its gas to electric transition .California’s economy on track to be carbon neutral by 2045. California must now not just eliminate greenhouse gas emissions from its electricity sector (which accounts for 16% of the state’s total emissions), but zero them out across the entire economy, including in manufacturing, transportation, and industry, among others. I don’t think you can even get a battery powered riding mower wider than 42”. It’s going to take forever to mow schools, football fields, etc.It sounds good in theory, but isn’t California having some challenges with keeping pgandE from turning the power off because of overload, and fire dangers with the winds. It would be a challenge to charge up batteries if we push the grid even further. Hopefully they figure this out by incorporating more solar and wind technology to get things in shape ahead of time. I heard that they are going to try and bury more of the power lines to help with the need to shut things off. I’m just wondering though, you know🤔(9)>>California's electricity grid is an aged, barely capable network right now. PG&E is allowed to turn your power off whenever the heck they want and hell you you’re not allowed to have a gas generator. Hydropower is a significant source of energy for the state. In 2019, it made up about 17 percent of California’s electricity mix. And while California is no stranger to drought, this is particularly bad. More than a third of the state is experiencing “exceptional drought,” and more than 40 percent of its residents are living under a drought state of emergency.BUT you really think Newsom gives a shit about the middle-class working people? This will impact ? This will get sued out of existence or drastically modified simply for the fact that people with life-critical medical devices or medication that require refrigeration cannot rely on the California power grid to not go down.No joke, this is what is going to happen. CA will wind down oil consuming products at retail and manufacturing but CA residents will just go to other states for such luxuries.(10)>>California politicians doing anything to look like they're doing something. The problem with this is it puts the onus on the consumer rather than industrial polluters like agribusiness. A lot of people in rural California use gas powered generators when Pacific Gas and electric cuts power because the winds are to high, people rely on the generators for power. Unless you are going to hand out subsidy’s or tax breaks to the consumers who need to purchase all new equipment this is bullshit. IS'S already a pain in the ass to find california approved generator when you order online. in fire zones this will create a desparate situation. cheap solar kits will thrive i guess? not that that can run most peoples fridge let alone microwaves unless you spend a couple grand or more. goes into effect january 2024.(10.1 )>>Meanwhile a lot of landscaping businesses will GO OUT OF BUSINESS. Backers of the legislation, a coalition of public health and environmental groups, would let the Air Resources Board figure out the details. There’s the possibility of a $30 million fund to help buy new equipment. The arithmetic, however, indicates that the proposed conversion would cost much more than that, either borne by the lawn services or taxpayers. Andrew Bray, vice president of the National Association of Landscape Professionals, told the Los Angeles Times that “a three-person landscaping crew will need to carry 30 to 40 fully charged batteries to power its equipment during a full day’s work,” adding, “These companies are going to have to completely retrofit their entire workshops to be able to handle this massive change in voltage so they’re going to be charged every day.”Recharge time is 12 hours. Not to worry, just buy more batteries or their supercharger to get a charge in 6 hours, extra of course. (10.2)>>PLUS a lot of it is MADE IN CHINA! . As governments, automakers, and investors flock to electric vehicles in anticipation of a greener future, they are being acquainted with a new Asian proprietor. In 2019, Chinese companies accounted for of the world’s output of battery raw materials. Among the battery plants to be created in the next eight years, 101 out of 136 will be based in China. But the U.S. is lagging far behind. Unlike the EU, which has in subsidies for home-grown battery start-ups, the U.S.’s battery capacity grows at a slower pace relative to the rest of the world. As a result, the U.S. share of global lithium-ion cell production are in the coming years while the EU has been catching up.(11)>>Biden’s rating was once as high as 56% .Since spring, public confidence in Biden has declined across several issues. In March, majorities expressed confidence in him across six of seven dimensions, including his handling of the public health impact of the coronavirus, and foreign and economic policies. Today, about half still express confidence in his handling of the coronavirus and the economy – but majorities have little or no confidence in him in four other areas.(12)>>LOL !!! but lately they've made some bad calls. But that honeymoon period came to a halt in late summer. The delta variant of the coronavirus led to a surge in cases and deaths starting in late July, accompanied by renewed fears about the economy and inflation; by Aug. 15, Biden’s approval rating had dropped 2.3 percentage points (to 50.0 percent), and his disapproval rating had risen 1.3 points (to 43.8 percent). That same day, the Taliban seized control of Kabul, the capital of Afghanistan, completing a stunningly fast collapse of the country’s government following the withdrawal of American troops. The Taliban takeover, and the ensuing humanitarian crisis, appeared to accelerate the decrease in Biden’s popularity.The poll found that 53% disapproved of the job Mr. Biden is doing, with the majority of those polled saying the president does not have good leadership skills.(13)>>PEOPLE ARE QUITTING EVERYWHERE!.How vaccine mandates are being handled differs across businesses and industries.The federal mandate will cover as many as 100 million Americans — private-sector employees as well as health care workers and federal contractors. It is a high-stakes gambit by the president to boost the vaccination rate in the U.S. About 77% of American adults have had one dose of the vaccine, according to the CDC. The workforce of Police , Nurses , Teachers , city workers . They have to deal with the mandates , or get tested weekly . Many oppose the mandates , its "their body their choice ".So how does the economic cost of accommodating unvaccinated workers compare with the risk that a vaccine requirement would push them out of work?If worker mandates become commonplace, it could become more difficult for employees to find an attractive position that doesn't require vaccination. In the US, more and more new positions are already listing it as a requirement in the job description. Such a move is not without controversy.
