Posts Tagged ‘Personal Responsibility’

8th Grader Suspended, Arrested Over NRA T-Shirt Now Faces Year in Jail

8th Grader Suspended, Arrested Over NRA T-Shirt Now Faces $500 Fine and a Year in Jail

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Anybody think he’d be going through this if he’d been wearing a T-shirt promoting gun control (or another “politically correct” liberal cause)?

Guns Save Lives reports:

You might remember when we reported that a middle school student in West Virginia was suspended from school and arrested after refusing to remove an NRA t-shirt he was wearing.

At the time, the arrest almost seemed secondary to the actions that the school was taking, but now that arrest is the story that is front and center as prosecutors move forward in actually pursuing the charges against the student. To be honest, I really assumed that the charge (obstruction of an officer) would be dropped.

According to a report by WTRF the prosecuting attorney is moving forward with that charge and a judge is allowing the case to move forward. Fourteen year old Jared Marcum could face up to a $500 fine and up to a year in jail (we’ll seriously hope that isn’t a real possibility) if found guilty.

According to the report, the arresting officer alleges that when Jared refused to stop talking he hindered the officers ability to do his job and that is where the obstruction arrest came from. I’m guessing a 14 year old kid who felt intimidated was trying to explain himself, but let’s throw him in jail for good measure.

Read more at Guns Save Lives

Teen Arrested For NRA T-Shirt Threatened With Gag Order by Court, Reporter Threatened With Arrest by Judge

8th Grader Suspended Arrested Over NRA T-shirt Now Faces $500 Fine and a Year in Jail

School Tells Students, Americans Don’t Have Right to Bear Arms

Gun Hysteria Leads To Harrassment Of Innocent Children In Public Schools

Schools’ ‘Zero Tolerance’ Weapons Policies Used To Bully Innocent Children

Racist Teacher Tries To Throw Student Out Of Class For Wearing A Romney T-shirt

Students Kicked Off Campus for Wearing American Flag Tees

Federal Judge: School Can Censor Student Display of American Flag

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Oregon Woman Attacked, Raped After 911 Dispatcher Tells Her No Police Are Available

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You should always be prepared to defend yourself, your home and your family.   Even more so if you live in a cash-strapped county.

This is what happens when local governments – their economies decimated by Big Government policies and regulations – become dependent on federal handouts and then lose those funds.

Josephine County was once able to pay for their own law enforcement without federal assistance, but that was before radical environmentalists and their pet federal regulations got a stranglehold on the local economy, killing their timber and mining industries.

Now that federal subsidies have dried up, this is the result:

A terrified woman from Josephine County, Oregon, dialed 911 to report that her violent ex-boyfriend is trying to break into her home, but in response she was told that there are no officers on duty to help her.

The cash-strapped sheriff’s department in the county had been forced to lay off 23 of its 29 deputies after losing millions in federal aid. The remaining six officers had their shifts slashed to eight hours Monday through Friday.

Unfortunately for the woman faced with an out-of-control jilted lover, her 911 call came on a Saturday.

Eventually, the crazed man forced his way into the house, choked his former girlfriend and raped her without no one there to stop him.

The suspect, Michael Bellah, was later arrested and pleaded guilty to kidnapping, assault and sex abuse.

The details of her horrific ordeal last August emerged on Tuesday after voters in Josephine and Curry counties with the lowest property taxes in the state turned down tax increases that would have increased the number of officers on the force.

Even if the county residents were to approve the levy, which would have raised taxes from 59 cents to $1.48 per $1,000 of property value for the next three years, it would have been too late for one local woman.

Read more at the Daily Mail

Liberals are of course blaming the voters and those evil Republicans for refusing to raise property taxes to make up the difference for a government-created problem.    But why should financially struggling residents be forced to pay more when the problem could be solved by simply getting government off the back of local industries?

Colorado morons want to leave women defenseless: “Vomiting or urinating” better than carrying a gun

Colorado Democrat: Women Afraid Of Rape Can’t Be Trusted With Guns

Dems, Media, Law Enforcement Across The Country Push For Disarming Law-Abiding Citizens

Innocent Americans Defend Themselves With Guns: The Stories You’re Never Told

Teen Mother Shoots, Kills Intruder After 21 Minutes On Phone With 911, Still No Police Response

We Can’t Make Americans Safer By Making Them Defenseless

The Great Equalizer: Women and the Right to Bear Arms

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Obama Tells College Grads To Ignore Warnings About Big Government, Tyranny

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Translation: Don’t think. Don’t Question.  Just go along with whatever the ruling class tells you to do.

Erica Ritz reports:

A year to the day after kicking off his re-election campaign at Ohio State University, President Barack Obama returned to the college campus and told graduates that only through vigorous participation in their “democracy” can they right an ill-functioning government and break through relentless cynicism about the nation’s future.

Obama also urged the students to “reject these voices” that warn of the evils of government, saying:

Still, you’ll hear voices that incessantly warn of government as nothing more than some separate, sinister entity that’s the root of all our problems, even as they do their best to gum up the works; or that tyranny always lurks just around the corner. You should reject these voices. Because what they suggest is that our brave, creative, unique experiment in self-rule is just a sham with which we can’t be trusted.

We have never been a people who place all our faith in government to solve our problems, nor do we want it to. But we don’t think the government is the source of all our problems, either. Because we understand that this democracy is ours. As citizens, we understand that America is not about what can be done for us. It’s about what can be done by us, together, through the hard and frustrating but absolutely necessary work of self-government.

[…]

The cynics may be the loudest voices—but they accomplish the least. It’s the silent disruptors—those who do the long, hard, committed work of change—that gradually push this country in the right direction, and make the most lasting difference. [Emphasis added]

Read more at The Blaze

Doug Powers makes a powerful observation:

Interesting. Obama said that those who warn others to be on the lookout for government tyranny run counter to the reason this “brave, and creative, and unique experiment in self-rule” called the United States of America was formed, when in fact a stand against government tyranny is precisely why this country came into existence. Can somebody please flick the paradox switch on the teleprompter to the “off” position?

Thomas Paine wrote about the “government and society should be a single entity” approach in Common Sense, and concluded the two should never be indistinguishable:

“Some writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by wickedness; the former promotes our happiness positively by uniting our affections, the latter negatively by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher. Society in every state is a blessing, but government even in its best state is but a necessary evil; in its worst state an intolerable one;”

Read more at Michelle Malkin

Gordan Runyan remarks:

Two things:

1. We need no further proof to justify a chorus of horse-laughter over his claim to being a Constitutional scholar. Because a Constitutional scholar would have read a book or two. Specifically, say, the Federalist Papers and the Anti-Federalist Papers. He would’ve seen that the nation was extremely concerned about tyranny in America in the run-up to the ratification of the federal Constitution. Indeed, those on the Anti-Federalist side seem more like prophets with each passing day, as they were convinced that the new Constitution would not, in fact, keep tyranny from happening here. Warning about government tyranny is practically the sine qua non of the American experiment.

President Reagan spoke as an American in this honorable tradition when he quipped that the scariest words in our language were, “We’re from the government and we’re here to help.” Mr. Obama speaks those words in earnest, like he really means them, and wonders why anyone would be nervous about it.

2. I really have no idea who he’s talking about, these mysterious voices warning of tyranny lurking around the corner. Everyone I know who is paying any attention is aware that tyranny is here right now, out in the open! I wish we lived in a time when tyrants were still afraid to show themselves!

Read more at Last Resistance

I especially like Trifecta’s take on this:

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Obama advice to grads: Antithesis of Jefferson’s warning on governmental tyranny

Why All of Us Should Mistrust the Government

Washington’s Message to Americans: ‘We Own You’

Mark Steyn: ‘Rights’ Have Been Perverted Into Gifts That Kings Bestow Upon Subjects

We the Serfs

America’s Ruling Class – And the Perils of Revolution

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Senate Gun Bills Fail, Obama Rages

ObamaGunPresserAP

Earlier today, 7 anti-gun bills were defeated in the senate (2 more remain to be voted on Thursday).

Never one to take defeat graciously, Obama threw a full-blown tantrum in the bully pulpit, using Gabby Giffords and the Newtown families as political props as he declared the Senate vote “shameful” and slammed 2nd Amendment advocates as “liars.”

Ben Shapiro at Breitbart observes:

With the failure of the Democrats’ attempt to exploit the Newtown school shooting to press forward gun control measures, President Obama took to the microphones along with the relatives of Sandy Hook victims to demonize his opposition. This, of course, was his strategy all along: knowing that he did not have 60 votes in the Democrat-controlled Senate to pass his gun control legislation, he pressed forward anyway, hoping to paint Republicans as intransigent, immoral tools of the gun lobby who don’t care about dead children. After demonizing Republicans, Obama hopes, he can press Americans into voting Democrats back into power in the House of Representatives.

On Wednesday afternoon, Obama played his part to perfection. Mark Barden, father of a first-grader murdered in Newtown, introduced him. Flanking Obama were other Newtown victims; Vice President Joe Biden, face creased in supposed emotional agony, his arm around the mother of a Sandy Hook victim; and former Congresswoman Gabby Giffords, who has been one of the lead advocate for gun control on behalf of the administration.

“On behalf of the Sandy Hook parents, I would like to thank President Obama and Vice President Joe Biden,” said Mark Barden, father of a first-grader murdered in Newtown. “We will not be defeated. We are not defeated and we will not be defeated ….. I’d like to end by repeating the words by which the Sandy Hook promise begins: Our hearts are broken. Our spirit is not.”

He then introduced President Obama, who blasted away in a carefully calculated and calibrated assault on gunowners, Republicans, and all those with the temerity to disagree on his gun control proposals. Lashing out with more emotion than he has on any issue of his presidency, Obama played up to the cameras, all the while using gun violence victims as a backdrop.

Obama said that he had acted in response to the shooting of Congresswoman Gabby Giffords and Sandy Hook. “Families that had known unspeakable grief,” Obama said, reached out “to protect the lives of all children …. A few minutes ago, a minority in the Senate decided it wasn’t worth it.” Standing on the graves of the children of Sandy Hook has become rote for this president.

[…]   All of this was setup for the coup de grace: a request for more power. Because, after all, Obama was never going to win this debate. He didn’t have the votes, he didn’t have the evidence, and he didn’t have a decent piece of legislation to propose. What he did have was unbridled faux moral indignation and a compliant press.

But he needs more. He needs a majority in the House. And he asked for it. “So all in all, this was a pretty shameful day for Washington. But this effort is not over,” said Obama. “If this Congress refuses to listen … the real impact is going to have to come from the voters.”

“The memories of these children demand [gun control],” Obama concluded.

What he meant was obvious: the memories of dead children in Sandy Hook demands that voters give Obama more Senators and more Congresspeople. How convenient for him.

Read more at Breitbart

Neither Obama nor the media are interested in hearing from family members of gun violence victims who opposed his gun control scheme, such as this father from Newtown, and the father of 9-year-old Christina Green, who was shot and killed in the Tuscon attack.

They’re only interested in exploiting those grieving families they can use to forward their own political agenda.

Obama Throws Tantrum Over Gun Control Defeat

Obama Just Gave One Of The Angriest Speeches Of His Presidency: ‘I See This As Just Round One’

Obama angrily denounces gun-rights groups as willful liars

Hollywood Mourns Senate Demise of Obama’s Gun Control Legislation

Sen. Feinstein: ‘NRA Money Stops My Gun Bans.’ Reality: ‘Bloomberg Alone Spent Same Amount.’

Opportunist-In-Chief Exploits Dead Children To Push For Liberal Wish List

Obama Campaign Exploits Mass Shooting For Fundraising, Fiscal Cliff Talking Points

Obama Goes After Guns, Ignores Evidence That ‘Gun Control’ Increases Violent Crime

Stats Prove Gun Control Does Not Work

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Obama Refuses To Send Envoy To Thatcher Funeral, Media Derides Her As ‘Divisive’

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Obama sent an envoy to Venezuela dictator Hugo Chavez’s funeral, but refuses to send anyone from his administration to honor Thatcher.

Why?  Because a Socialist dictator like Chavez is an ideological ally, while a liberty-loving conservative like Thatcher is political enemy.   That should tell you all you need to know about dark and dangerous Obama’s personal ideology truly is.

This is a deliberate, public slap in the face in front of the entire international community.  Obama is a small, petty, dangerous man.

The Investors Business Daily editorial board observes:

President Obama declined to send a high-level delegation to Wednesday’s funeral of Britain’s Margaret Thatcher. It’s a measure of how little he values the special relationship — and a sign of his own smallness.

Back in more gracious times, vice presidents routinely attended funerals of foreign dignitaries. As such, the presence of Vice President Joe Biden — if not Obama himself — would seem fitting for as significant a U.S. ally as the late Prime Minister Thatcher, if not out of warmth of feeling, then simply to represent the U.S.’ gratitude. Thatcher’s uncompromising friendship with the U.S. helped to set off a free-market revolution, end the Cold War, and left the U.S. and U.K. the standard-bearers for freedom in the world — the very basis of the power Obama now enjoys.

But appallingly, not even Biden could be spared for the funeral of the most consequential British prime minister since Winston Churchill.

[…]  This snub shows Obama places partisan politics above leadership or statecraft.

Read more at IBD

Obama isn’t the only one deliberately insulting the memory of this great woman.  The media is taking this opportunity to verbally burn her memory in effigy:

In the days leading up to Margaret Thatcher’s funeral on Wednesday, the three networks repeatedly hyped hateful, ugly attacks on the former Prime Minister of Britain, describing her as a “polarizing,” “divisive” figure. On Rock Center, his low-rated Friday night show, Brian Williams explained that it was “sad, but necessary to report” that, while Americans may like Thatcher, “It’s been a harsh couple of days …Tonight, the number one song on iTunes in Great Britain is the Wizard of Oz classic [Ding Dong! The Witch Is Dead], in this case celebrating the death of the Iron Lady.” 

On Sunday’s Today, Lester Holt began by insisting, “Former British Prime Minister Margaret Thatcher is proving to be as polarizing in death as she was in life.” He, too, highlighted angry liberals in Britain gleefully playing the mocking song. Leftist journalist Martin Bashir appeared on the program to bemoan the “controversial” Thatcher. He touted, “An online campaign has pushed the song Ding Dong! The Witch Is Dead up towards the top of the British music charts.”

Bashir made sure to play a clip of a protester complaining, “I’m here to remember the victims, the victims of Margaret Thatcher and her society– her type of government.”

On Wednesday, CBS This Morning reporter Mark Phillips lectured, “Well, this funeral was going to be a tense and controversial affair even before [the Boston bombing.]” It was going to be “controversial’ to bury Thatcher, the woman elected three times in massive landslides?

On the April 17 Today, Keir Simmons reported live from the funeral route and deemed Thatcher a “divisive figure for many people in Britain.” He did allow that there were “many people here in the streets to pay their last respects.”

This last point, the massive outpouring of people who actually admired Thatcher, hasn’t received as much attention from the network reports.

Read more at Newsbusters

Britain Loses A Great Champion Of Freedom

Obama’s snub to Thatcher: President won’t send envoy to funeral – and leaves it to her old allies from the Reagan era

Obama Draws Criticism for Thatcher Funeral Snub

NY Times Doesn’t Let ‘Costly’ Funeral Halt Criticism of ‘Deeply Polarizing…Divisive’ Thatcher

NBC: Margaret Thatcher ‘Too Controversial’ for State Funeral; ‘Dancing in the Streets’ Upon Her Death

Compare And Contrast: AP Equivocates On Margaret Thatcher, Lionizes Huge Chavez

American Leftists, Media Grieve Loss Of Venezuela’s Communist Dictator

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New MSNBC Promo Claims Free Food, Housing and Health Care Are ‘Rights’

MSNBC

Funny how Marxists don’t recognize your unalienable right to keep the fruits of your labor (especially if you happen to be more successful than they think you should be), but they claim that they have a “right” to demand free goodies at the expense of others.

Erica Ritz reports at The Blaze:

Speaking outside on a sunny day, Harris-Perry says in an ad that aired Wednesday morning:

Americans will always want some level of inequality, because it’s a representation of meritocracy.  People who work hard and sacrifice and save their money and make major contributions — we think that they should earn a little more.  They should have more resources, and that’s fine.  But we also, however, have to have a floor under which nobody falls.  And if you’re below that — especially if you’re a child and you’re below that — we are not going to accept that.  You do have the the right to health care, and to education, and to decent housing and to quality food at all times.  ​[Emphasis added]

Read more at The Blaze

When something is a “right” (your life or conscience, for instance), it means you don’t have to do anything to earn it. You get to have it just for existing. It’s a gift from your Creator.

When you describe goods and services like food and housing as “rights,” you are saying that the people who produce these goods and services are obligated to provide them for you, whether you pay for them or not. There’s a word for this: slavery. Only slaves are forced to produce for others without compensation. TRUE rights come from God, and are unalienable. They cannot be provided by others, who could just as easily take them away.

You have an unalienable right to work and trade for goods and services. You do NOT have a “right” to demand them free of charge from others.

Sunstein: Obama Wants ‘Second Bill of Rights’

Barack Obama and “The Second Bill of Rights”

Where do your rights come from?

Mark Steyn: ‘Rights’ Have Been Perverted Into Gifts That Kings Bestow Upon Subjects

MSNBC Host: Kids Don’t Belong To Their Parents, They ‘Belong To Their Communities’

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Britain Loses A Great Champion Of Freedom

The Real Legacy of Margaret Thatcher, Britain’s Iron Lady

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So long, Maggie!  Say “Hi” to Ronnie for us!  You’ll be missed!

Mark Steyn writes at National Review:

Mrs. Thatcher’s predecessor as prime minister, the amiable but forgotten Sunny Jim Callaghan, once confided to a friend of mine that he thought Britain’s decline was irreversible and that the government’s job was to manage it as gracefully as possible. By 1979, even this modest aim seemed beyond the capabilities of the British establishment, and the nation turned to a woman who was one of the few even in a supposedly “conservative” party not to subscribe to the Callaghan thesis. She reversed the decline, at home and overseas.

[S]he understood that the biggest threat to any viable future for Britain was a unionized public sector that had awarded itself a lifestyle it wasn’t willing to earn. So she picked a fight with it, and made sure she won. In the pre-Thatcher era, union leaders were household names, mainly because they were responsible for everything your household lacked. Britain’s system of government was summed up in the unlovely phrase “beer and sandwiches at Number Ten” — which meant union grandees showing up at Downing Street to discuss what it would take to persuade them not to go on strike, and being plied with the aforementioned refreshments by a prime minister reduced to the proprietor of a seedy pub, with the Cabinet as his barmaids.

In 1990, when Mrs. Thatcher was evicted from office by her ingrate party’s act of matricide, the difference she’d made was such that in all the political panel discussions on TV that evening no producer thought to invite any union leaders. No one knew their names anymore.

Read more at National Review

Max Boot observes at Commentary Magazine:

What Reagan and Thatcher showed–and it is a lesson that may seem at odds with the conservative impulse that the private sector is the most significant–is what a difference political leadership can make. (Later Rudolph Giuliani showed the same thing–he was for urban policy what Reagan and Thatcher were for national policy.) They both inherited a mess: In Thatcher’s case she took over in 1979 following the “Winter of Discontent” when Britain was paralyzed by multiple strikes and high unemployment. As the Conservative advertising slogan had it, “Labour isn’t working.” Reagan, of course, took over from Jimmy Carter in the wake of the failed hostage-rescue mission and in the midst of a severe recession characterized by “stagflation.” Worst of all was a widespread loss of confidence in the future–both in Britain and America it was fashionable back then to imagine that the “the West” was finished and that the Soviet Union was ascendant.

Reagan and Thatcher would have none of it. Both were firmly outside the political and intellectual mainstream, and both were derided as simpletons for imagining that they could reverse the course of history. But that is precisely what they did–Reagan with his tax cuts (helped by Fed chairman Paul Volcker’s anti-inflationary policy) and defense spending increases which, respectively, revived the economy and restored our military power; Thatcher with her income-tax cuts, budget cuts, interest-rate hikes and her willingness to stand up to the unions, all of which revived the British economy, and her willingness to fight Argentina for the Falkland Islands, which restored British confidence.

[…]   Thatcher’s challenge was all the greater given that so much of the Conservative Party remained “wet”–i.e., skeptical of her conservative principles. Eventually it was not the political opposition but her own party which toppled her, leading to a long period of Conservative wandering in the wilderness, punctuated by uninspiring rule first by John Major and now by David Cameron, neither of whom will ever be mentioned in the same breath as the Iron Lady.

Like Reagan, Thatcher was vindicated by history–and just as Reagan was praised by Bill Clinton, so she was praised by Tony Blair. She will be remembered as the greatest female ruler since Queen Elizabeth I and the greatest British prime minister since Winston Churchill.

Read more at Commentary Magazine

White House snub to Thatcher: Obama won’t send envoy to funeral – and leaves it to her old allies from the Reagan era

Democrats Block House Resolution To Honor Lady Thatcher

Thatcher’s Enduring Success Came From Her Principles

The Vigorous Virtues Of Margaret Thatcher

How Margaret Thatcher Brought Economic Freedom to Britain

She Did Not Go Wobbly

Two Examples: Obama On How NOT To Lead. Thatcher On How TO Lead

Obama Responded Faster to Ebert’s Death Than He Did to Thatcher’s

Thatcher, Freedom and Free Markets

Compare And Contrast: AP Equivocates On Margaret Thatcher, Lionizes Huge Chavez

UK’s Daily Telegraph Shuts Down Comments On Every Margaret Thatcher Story After Libs Flood Comments Section With Abuse

How The British Left Made Sure Another Margaret Thatcher Was Never Elected: Mass Immigration

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School Tells Students, Americans Don’t Have Right to Bear Arms

Plain meaning: if government militias get to carry arms, so do the citizens!

Plain meaning: if government militias get to carry arms, so do the citizens!

This is one of the reasons why it is an incredibly dangerous conflict of interest for the government to be shaping the hearts and minds of future voters.  Clearly, the Left wants the next generation of Americans to believe that they have no unalienable right to self-defense, from the government or anyone else.   They start by indoctrinating the young.

The Left knows it’s better to apologize after the fact than ask for permission. The seeds of deception have already been planted in these kids’ minds. They’ll let the outrage settle down, and then try again. This is why parents should have the choice to send their children to a school that isn’t out to indoctrinate their kids!

Todd Starnes reports at Fox News:

The father of a Connecticut child is furious after discovering that his son’s school is teaching students that Americans don’t have a Second Amendment right to bear arms.

“I am appalled,” said Steven Boibeaux, of Bristol. “It sounds to me like they are trying to indoctrinate our kids.”

Boibeaux’s son is an eighth grader at Northeast Middle School. On Monday his social studies teacher gave students a worksheet titled, ‘The Second Amendment Today.’

“The courts have consistently determined that the Second Amendment does not ensure each individual the right to bear arms,” the worksheet states. “The courts have never found a law regulating the private ownership of weapons unconstitutional.

The worksheet, published by Instructional Fair, goes on to say that the Second Amendment is not incorporated against the states.

“This means that the rights of this amendment are not extended to the individual citizens of the states,” the worksheet reads. “So a person has no right to complain about a Second Amendment violation by state laws.”

According to the document, the Second Amendment “only provides the right of a state to keep an armed National Guard.”

Boibeaux said he discovered the worksheet as he was going over his son’s homework assignments.

“I’m more than a little upset about this,” he told Fox News. “It’s not up to the teacher to determine what the Constitution means.”

Mat Staver, the founder and chairman of the Liberty Counsel, called the lesson propaganda – that is “absolutely false.”

“In fact, the US Supreme Court has affirmed that the Second Amendment ensures the individual the right to bear arms,” Staver told Fox News. “The progressive interpretation of the Second Amendment is that it doesn’t give you the right to bear arms – that it’s a corporate right of the government – but that has been rejected by the Courts.”

Read more at Fox News

Gun Hysteria Leads To Harrassment Of Innocent Children In Public Schools

Schools’ ‘Zero Tolerance’ Weapons Policies Used To Bully Innocent Children

Brainwashing Kids About Guns

Brainwashing Kids About Guns: the Sequel

The Second Amendment: Much Ado about Firearms

What We Believe, Part 5: Gun Rights

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Crony Corporatism: Corrupt Companies Making Money From Food Stamp Program

Boomtown 2: The Business Of Food Stamps

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For the Left, this is all part of the Cloward-Piven strategy to overwhelm the system with impossible demands, bringing about an inevitable collapse that will set the stage for a Communist revolution.

For corporations vying for their turn at the taxpayer trough, this is a dance with the devil…and they don’t even realize it.

Tim Brown reports at Freedom Outpost:

Boomtown 1: Washington, The Imperial City” exposed the cronyism and luxurious lifestyle of Washington, DC’s power elite. On Friday “Boomtown 2: The Business of Food Stamps” Government Accountability Institute (GAI) President Peter Schweizer and Breitbart News Executive Chairman Stephen K. Bannon exposed how politicians and corporations have used the country’s food stamps program to profit on the backs of tax payers.

Though the food stamps program was always meant to be a “safety net” to provide temporary assistance, Schweizer pointed out that it has “become an insider game of power and profit” for corporations who are attempting to get a slice of the $75 billiion provided by the taxpayers.

[…]  The GAI president points out that the food stamps program was intended to provide basic foods, but has grown to include all types of things including soft drinks and fast food. We have also pointed out that the food stamps program has been used to purchase guns, drugs and pay for strippers and massage parlors, not to mention that the USDA has targeted illegal aliens for the program.

The fraud of the food stamps program has grown since EBT cards were issued in 2002, which gave no reason for either government or corporations to look to reform the system or limit the fraud.

Read more at Freedom Outpost

Tom Fitten warns at Breitbart:

The Obama administration is proudly shattering welfare records with an astonishing number of people collecting public benefits long term, especially food stamps.

In fact, as I discussed in a special to be aired on Hannity tonight, Obama and his friends have actually found a way to meld corporate cronyism with food stamp abuse to line their pockets while undermining our election systems at the same time.

Under Obama, the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps, has exploded with a record number of people – 46 million and growing – getting free groceries from the American taxpayer. Adding insult to injury, a federal audit revealed last year that many who don’t qualify for food stamps now receive them under a new “broad-based” eligibility program that disregards income and asset requirements.

Obama says the food stamp extension is part of his intention to eradicate “food insecure households.” However, it’s really part of a massive redistribution of wealth. Last year, taxpayers were forced to pay more than $80 billion, including an estimated $750 million a year in outright fraud.

[…]  According to the study, the current food stamp Electronic Benefit Transfer (EBT) card industry is dominated by three main players: J.P. Morgan Electronic Financial Services, Affiliated Computer Services, and eFunds. Together they collect money from 49 states and three territories. In fact, since 2004, 18 of 24 states that contract with J.P. Morgan have paid more than $560 million to the financial monolith.

There is little wonder then that those three companies appear to be perfectly content with the exploding food stamp rolls – and wholly unconcerned about rampant fraud and abuse. As the GAI study observed, “The more persons enrolled in the program, the more money the EBT industry makes.” That may also help explain why, when the state of Florida initiated an eight-month program to detect and prevent fraud among its three million EBT card users, J.P. Morgan saw fit to assign just one employee to the program.

And then there is this: During the 2008 election, Barack Obama received more than $800,000 from J.P. Morgan alone. After his election, the American Recovery and Reinvestment Act, initiated by Obama and passed by a compliant Congress, made two major changes to existing food stamp policies. First, it increased benefits by 13.6 percent. Second, it actively encouraged states to add more recipients to their food stamp rolls.

And the corporate cronyism and political payoffs don’t end there. The House and Senate Agricultural Committees have jurisdiction over all food assistance and distribution programs, including the food stamp program. So, just as one might expect, analysis by the GAI uncovered a clear trend of increasing contributions to Agriculture Committee members of both the House and Senate on the part of J.P. Morgan that clearly coincides with their entry into the lucrative EBT card, food stamp market.

Between 1998 and 2002, JP Morgan’s total contributions per election cycle averaged $82,897. After the bank entered the EBT services market until the 2010 election cycle, their average donation per cycle more than doubled to $215,120. And the Agriculture Committees, in turn, have broadly expanded the number of food stamp recipients.

Of course, the more recipients that are added to the food stamp rolls, the more voters Obama can count on at election time. And the offshoots of Obama’s former client and campaign partner ACORN not only assure that those voters are registered but also that they know to whom they are beholden for their government handouts.

Read more at Breitbart

Food stamps recipients double under Obama; Result? Selling food stamps for an iPhone 5 is all the rage

15% of Americans Now Receive Food Stamps

Boomtown 2: Taxpayers Have Spent 15 Trillion On The War on Poverty

Taxpayers now fund 126 separate federal anti-poverty programs

Schweizer: ‘No One Representing Taxpayer’ In Food Stamp Program

Homeland Security ‘Welcome’ Materials Recruit New Immigrants Onto Overburdened Welfare Programs

Government Launches $3M Ad Campaign To Recruit More People Into Food Stamp Dependency

EBT: How The Culture of Welfare Creates A Parasitic Class That Devours Its Host

How Food Stamps Morphed From Temporary Relief to Permanent Entitlement

Government Benefits Are Destroying The Family, Creating More Poverty

Boomtown: New Series Exposes D.C. Ruling Class Living High On Taxpayer Money

What the Left Misunderstands about Poverty and Dependency

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Democrats To Gun Owners: Buy Insurance, Or Pay $10K Fine

ObamacareSinkhole

If the goal is to save lives, liability insurance isn’t going to do it.  But of course, this isn’t really about saving lives.  It’s about control.  It’s about putting up as many hurdles as they can think of between the average, law-abiding American and their right to self-defense.

Alex Pappas reports at The Daily Caller:

A contingent of liberal Democrats in Congress is proposing a new federal gun control idea: mandatory liability insurance for gun owners.

When New York Rep. Carolyn Maloney introduced the legislation last month with eight other Democrats, she boasted that it is “the first bill to require liability insurance of gun buyers nationwide.”

Maloney’s “Firearm Risk Protection Act” requires gun buyers to have “a qualified liability insurance policy” before they are able to legally purchase a firearm.

It also calls for the federal government to impose a fine as much as $10,000 if a gun owner doesn’t have insurance on a firearm purchased after the bill goes into effect.

Read more at The Daily Caller

Want to guess who this would hurt most?  You got it: poor people living in dangerous neighborhoods, who would be barred from defending themselves due to the high cost of insurance.

The smart ones will go to the black market and arm themselves anyway.

Firearms Risk Protection Act Could Stick Gun Owners With $10,000 Fine

NRA Urges Americans to ‘Stand and Fight’ In Powerful New Video

Justice Dept. Admits Obama’s Gun Control Plan Would Require Universal Registration, Confiscation

2nd Amendment Preserves The God-given Right To Shoot Tyrants, Not Deer

The Second Amendment: Much Ado about Firearms

What We Believe, Part 5: Gun Rights

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Dr. Ben Carson: Liberals Are ‘Racist,’ Angry He Came ‘Off the Plantation’

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Nothing stirs the Left’s seething rage more than a woman, black or gay person refusing to toe the ideological line and daring to speak out for conservative values.

Dr. Ben Carson is the latest target of the bigoted Left, which does not allow independent thought from “minority” groups they seek to keep under their control.   Mark Levin recently had an amazing interview with Carson, in which they discussed the Left’s agenda to silence conservative minorities.

Kyle Becker has the transcript at the Independent Journal Review:

MARK LEVIN, HOST: These attacks on you, I have to ask you. You’re a religious man. Do these attacks make you want to speak out more and do more or do they cause you to second guess coming out and talking like this?

DR. BENJAMIN CARSON: No, they make me recognize what serious trouble we’re in. And what has really brought it home to me is, you know, I’ve gotten so many letters of support or phone calls or emails from people who believe similarly, but are afraid to speak out because they think there may be retribution. And basically, it proves what I was saying at the National Prayer Breakfast that political correctness is threatening to destroy our nation because it puts a muzzle over honest conversation, and the fabric of our nation is changed without the benefit of a conversation.

LEVIN: Well, you’re right. They don’t want a conversation, do they? They don’t want us to engage. In fact they…

CARSON: No, they want to shut us up completely.

LEVIN: Yeah.

CARSON: And that’s why the attacks against me have been so vicious because I represent, you know, an existential threat to them. They need to shut me up, they need to get rid of me. They can’t find anything else to delegitimize me. So they take my words, misinterpret them, and try to make it seem that I’m a bigot.

LEVIN: And you’re attacked also, in many respects, because of your race, because you’re not supposed to think like this and talk like this. A lot of white liberals just don’t like it, do they?

CARSON: Well, you know, they’re the most racist people there are because, you know, they put you in a little category, a little box. You have to think this way. How could you dare come off the plantation?

Read more at the Independent Journal Review

Listen to the whole interview on the Mark Levin show:

View on YouTube

This Is How Regular, Principled People Get Destroyed By The Liberal Machine

Dr. Ben Carson: White liberals ‘the most racist’

Dr. Ben Carson Boldy Speaks Truth In Front Of Obama At National Prayer Breakfast

The War On Conservative Women And Minorities

Why I am a black Tea Party patriot opposed to Barack Obama

Black conservative tea party backers take heat

Free At Last? ‘Runaway Slave’ Shows How Black Americans Continue To Be Enslaved By Liberal Policies

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Obama Proclaims April ‘Financial Capability Month,’ Plans To Teach Young People ‘How to Budget Responsibly’

ObamaBudget

You can’t make this stuff up!  And no, it wasn’t an April Fools joke!

Terence P. Jeffrey reports at CNS News:

President Barack Obama, who has increased the national debt by $53,377 per household, has proclaimed April“National Financial Capability Month,” during which his administration will do things such as teach young people “how to budget responsibly.”

“I call upon all Americans to observe this month with programs and activities to improve their understanding of financial principles and practices,” Obama said in an official proclamation released Friday.

[…]  The proclamation on the White House website links to two other government websites: the site for the Consumer Financial Protection Bureau, and MyMoney.gov, which includes materials from 21 federal agencies.

Listed among the “popular topics” on MyMoney.gov is “Managing Debt and Credit,” which includes a link to a page on the Federal Reserve’s website called “Getting the most from your credit card.” Tip 2 on that page is: “Stay Below Your Credit Limit.”

When Obama was inaugurated on Jan. 20, 2009, the total debt of the federal government was $10,626,877,048,913.08. As of the close of business on March 28, 2013, the total debt of the federal government was $16,766,988,432,792.62—an increase of $6,140,111,383,879.54 since Obama took office.

That means that under Obama the federal debt has increased $53,377 for each one of the 115,031,000 households the Census Bureau says there are now in the United States. The president is required by law to submit a budget proposal for the next fiscal year by the first Monday in February.

Thus far, Obama has not submitted his budget proposal for fiscal 2014.

Read more at CNS News

Jeannie DeAngelis observes at Clash Daily:

It’s the liberal way to perceive yourself as diametrically opposed to what and who you actually are. Therefore, Barack Obama being a financially incapable liberal is precisely the reason why the man who has yet to submit a budget proposal for 2014 feels he’s qualified to teach young people “how to budget responsibly.”

What’s next, Bill and Hillary Clinton running a Marital Cohesiveness and Fidelity Seminar? How about first daughters Sasha and Malia, who took not one but two spring break vacations, sharing with the younger set how to spend a week at the Atlantis in the Bahamas and River Run in Sun Valley, Idaho on a limited budget? Sorry, but if Barack Obama is financially capable, then outgoing MSNBC host Ed Schultz is qualified to host a new “Eradicate Bias in the Media” show.

Then again, this is the president who is expert at exempting himself from what he insists others do. That is why a person who clearly has no understanding of sound financial principles can say with a straight face: “I call upon all Americans to observe this month with programs and activities to improve their understanding of financial principles and practices.”

Wait! When Obama says “all Americans” does “all” include himself and the $10 million dollar vacationer he’s married to, or does “all” just mean everybody except Mr. and Mrs. Obama?

Either way, the president must truly believe that he’s an authority on stretching a dollar, because in his “National Financial Capability Month” proclamation, he said that his “[a]dministration is dedicated to helping people make sound decisions in the marketplace.” That marketplace, by the way, is the same marketplace that he’s currently in the process of destroying. It could be that President Obama thinks that the soundest way to save money in the marketplace is to exchange the marketplace for something altogether different.

Read more at Clash Daily

Federal Government Goes Deeper in Debt to Warn Young People About Dangers of Overspending

What Awaits Young Americans

What Can Washington Politicians Learn From America’s Moms?

Federal Budget vs. Household Budget: How Do They Compare?

To Pay For Current Spending Commitments, U.S. Government Would Have To Raise Taxes 64%

US Gov’t Is Bankrupt, System of Republican Constitutional Gov’t Is At Stake

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Latest Cyprus Deal Steals 40% Of Depositors’ Cash, EU Could Be Next

cpb_bank

Cyprus is only the first domino.

Wynton Hall reports at Breitbart:

Cypriot President Nicos Anastasiades has struck a deal with the European Union and International Monetary Fund that will seize up to 40% of uninsured funds from wealthier depositors with over 100,000 euros and will not siphon funds from those below that amount.

The 10 billion euros ($13 billion) bailout plan calls for the Cyprus Popular Bank to be dissolved and all its viable assets transferred to the country’s biggest bank, Bank of Cyprus.

Presently, Cypriot banks have imposed a 100 euros ATM withdraw limit, and Cyprus border officials at air and sea ports have been ordered to confiscate the funds of any traveler attempting to leave with over 10,000 euros.

Read more at Breitbart

How dare they try to keep the money they worked so hard for and saved AFTER taxes were already paid on it?   Don’t they know that private property is an illusion under Socialism?   That the government is free to spend as irresponsibly as it wants, and can steal your money at will to pay the tab?   That’s what they’ve been voting for all this time, right?   Or didn’t they realize it?

Understandably, Cypriots are desperately trying to get their money out, but it’s too late:

The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday – and even then subject to capital controls to prevent a run on deposits.

Read more at Reuters

The ruling class insists that stealing money out of their bank accounts is “in their best interests.”   Doesn’t that make them feel better?  They’ll be patriotic and happy to “share the sacrifice” for the greater good, right?   Of course not!

Tyler Durden reports that there is a “Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls“:

From FAZ, google translation edited:

Despite the closed banks and a lock for payments in the past week, more money flowed out of Cyprus than in previous weeks, Frankfurter experts report for payments. Prior to the escalation of the crisis in Cyprus accruing on the payment system Target liabilities of Cypriot central bank to the European Central Bank (ECB) had increased daily at approximately 100 to 200 million euros. In recent days was after Parliament the stabilization program initially had to fail, the daily has risen to more than doubleJust in the last week so could cash assets have been withdrawn from Cyprus in the billions, although the Cypriot central bank has actually issued a lock.

How is it possible that cash is leaving the country even with a bank halt? It isn’t, unless of course, the banks aren’t really halted, and some outbound wire transfers, which are permitted, are more equal than other wire transfers which are stuck on the island. Of course, that would imply an “Europe Farm” type of arrangement, which in the bastion of fairness, equality and honesty which is Europe, would be absolutely impossible.

On the other hand, if indeed the drain of the Cypriot banking system has continued despite all the enacted halts during the past week, then it’s game over for Cyprus, which will soon have only the ECB to thank for providing liquidity, an arrangement that may not be the best long-term outcome for a nation whose economy has basically been gutted in the span of one week.

It also means game over for the bailout as envisioned, as the EUR17 billion is history, and much more cash will have to be injected to cover for the stealth outflows.

Read more a ZeroHedge

Cyprus won’t be the only one affected, of course.  An unusually honest Eurozone official has made it clear that the EU will use the same confiscation tactics as Cyprus if things get worse (which of course they will):

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.

The new policy will alarm hundreds of thousands of British expatriates who live and have transferred their savings, proceeds from house sales and other assets to eurozone bank accounts in countries such as France, Spain and Italy.

The euro fell on global markets after Jeroen Dijsselbloem, the Dutch chairman of the eurozone, told the FT and Reuters that the heavy losses inflicted on depositors in Cyprus would be the template for future banking crises across Europe.

Read more at The Telegraph

Dijsselbloem tried to retract the statement after investors started panicking, but the damage is already done. Now the cat is out of the bag:

Translation: it now officially sucks to be an unsecured creditor in Europe. In other words: an uninsured depositor.

Why this ad hoc dramatic shift in the European approach to bank solvency, which if anything makes the link between bank and sovereign closer than ever, and crushes all that Draghi achieved in the summer of 2012?

Simple: because what Cyprus allowed was the effective usurpation of democracy - the only reason the Cypriot bailout “passed” (at least so far) is because it was structured as a bank restructuring, a financial system “resolution”, not a tax,and thus not in need of a parliamentary, democratic vote. Because as Cyprus also showed, votes to deprive depositors of cash, whether insured or uninsured, simply won’t fly.

Hence the shift.

However, there is a problem: it means that depositors are now fair game everywhere, and that the ESM or EFSF, with their unlimited scope but “democratic” impleention pathway, are on the backburner.

And now, the scramble to pull uninsured deposits out of banks everywhere begins. Thanks to the new Eurogroup head.

“You ask for miracles, Theo. I give you Diesel-BOOM”

And now, every European depositor is going to their local financial dictionary to look up the definition of General Unsecured Claims, only to see a picture of… themselves.

Read more at Zero Hedge

Simon Black at Sovereign Man blog tells readers to “Expect These Eight Steps From The Government’s Playbook“:

To anyone paying attention, reality is now painfully obvious. These bankrupt, insolvent governments have just about run out of fingers to plug the dikes. And history shows that, once this happens, governments fall back on a very limited playbook:

  1. Direct confiscation

    As Cyprus showed us, bankrupt governments are quite happy to plunder people’s bank accounts, especially if it’s a wealthy minority.

    Aside from bank levies, though, this also includes things like seizing retirement accounts (Argentina), increases in civil asset forfeiture (United States), and gold criminalization.

  2. Taxes

    Just another form of confiscation, taxation plunders the hard work and talent of the citizenry. But thanks to decades of brainwashing, it’s more socially acceptable. We’ve come to regard taxes as a ‘necessary evil,’ not realizing that the country existed for decades, even centuries, without an income tax.

    Yet when bankrupt governments get desperate enough, they begin imposing new taxes… primarily WEALTH taxes (Argentina) or windfall profits taxes (United States in the 1970s).

  3. Inflation

    This is indirect confiscation– the slow, gradual plundering of people’s savings. Again, governments have been quite successful at inculcating a belief that inflation is also a necessary evil. They’re also adept at fooling people with phony inflation statistics.

  4. Capital Controls

    Governments can, do, and will restrict the free-flow of capital across borders. They’ll prevent you from moving your own money to a safer jurisdiction, forcing you to keep your hard earned savings at home where it can be plundered and devalued.

    We’re seeing this everywhere in the developed world… from withdrawal limits in Europe to cash-sniffing dogs at border checkpoints. And it certainly doesn’t help when everyone from the IMF to Nobel laureate Paul Krugman argue in favor of Capital Controls.

  5. Wage and Price controls

    When even the lowest common denominator in society realizes that prices are getting higher, governments step in and ‘fix’ things by imposing price controls.

    Occasionally this also includes wage controls… though wage increases tend to be vastly outpaced by price increases.

    Of course, as any basic economics textbook can illustrate, price controls never work and typically lead to shortages and massive misallocations.

  6. Wage and Price controls– on STEROIDS

    When the first round of price controls don’t work, the next step is to impose severe penalties for not abiding by the terms.

    In the days of Diocletian’s Edict on Prices in the 4th century AD, any Roman caught violating the price controls was put to death.

    In post-revolutionary France, shopkeepers who violated the “Law of Maximum” were fleeced of their private property… and a national spy system was put into place to enforce the measures.

  7. Increased regulation

    Despite being completely broke, governments will dramatically expand their ranks in a last desperate gasp to envelop the problem in sheer size.

    In the early 1920s, for example, the number of bureaucratic officials in the Weimar Republic increased 242%, even though the country was flat broke from its Great War reparation payments and hyperinflation episode.

    The increase in both regulations and government officials criminalizes and/or controls almost every aspect of our existence… from what we can/cannot put in our bodies to how we are allowed to raise our own children.

  8. War and National Emergency

    When all else fails, just invade another country. Pick a fight. Keep people distracted by work them into a frenzy over men in caves… or some completely irrelevant island.

Read more at Zero Hedge

Cyprus bank deal wipes out some large depositors, will confiscate up to 40% from others

“Cyprus Is The Homage Europe Pays For The Denial Of A Systemic Crisis”

The “Wealth Tax” Contagion Is Rapidly Spreading: Switzerland, Cyprus And Lichtenstein

Cypriot Youth Rise Up In Pictures: “They Just Got Rid Of All Our Dreams”

Europe’s Bailout Rebound Lasts Three Hours. Reverses.

The Good, The Bad, And The Extremely Ugly Of The Cyprus Deal

The Great British Cash EUxodus Begins

Cyprus Agrees To Confiscate 20% Of ‘Rich’ Depositors’ Money In Bailout Deal

We Are All Cypriots Now

Cyprus Lawmakers Vote Against Stealing From Depositor’s Bank Accounts To Fund Bailout

Crisis In Cyprus: Europeans Run On ATM’s, Trying To Stop Government From Stealing Their Money

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Cyprus Agrees To Confiscate 20% Of ‘Rich’ Depositors’ Money In Bailout Deal

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It’s not a “tax.” It is government stealing money directly out of people’s bank accounts – money that was deposited AFTER taxes were already paid on it.

Socialism = theft, pure and simple.   Christians who support Socialism need to go back study what the Bible has to say about debt, envy, and theft!

The Independent reports:

An 11th-hour deal with the EU, which has saved the Cypriot economy from the brink, will see investors with more than €100,000 in the nation’s largest banks forfeit a large chunk of their deposits.

The punishing deal – which has been approved by the eurozone finance ministers – will allow the country to receive the €10bn (£8.5bn) bailout it needed before the European Central Bank pulled funding and sent the island on the path to bankruptcy and a possible exit from the single currency.

Under the new agreement, all bank deposits under €100,000 will be secured and guaranteed by the state. The country’s second-biggest bank, The Popular Bank of Cyprus – known as Laiki – will be wound down whilst holders of deposits of more than €100,000 face big losses.

Read more at The Independent

Greek Cyprus sacrifices top banks to resurrect EU bailout

Rampapalooza As Cyprus-Troika Reach Deal (Updates)

Meanwhile, Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls

“Cyprus Is The Homage Europe Pays For The Denial Of A Systemic Crisis”

Unsecured Depositors Of The World, Unite… And Get The Hell Out Of These Countries

We Are All Cypriots Now

Cyprus Lawmakers Vote Against Stealing From Depositor’s Bank Accounts To Fund Bailout

Crisis In Cyprus: Europeans Run On ATM’s, Trying To Stop Government From Stealing Their Money

Socialism is Not Compassionate, and Why This Should Matter to Christians

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We Are All Cypriots Now

Cypriots

This will only end well for those who are prepared to take care of themselves and their families.

Gary North warns at Tea Party Economist:

The Cyprus central bank decided to keep the banks closed until next Tuesday. The panic is building. This will build it even more.

The British media say the government is looking for Plan B. There is no Plan B.

There will be no tax on bank accounts, says the parliament.

Will there still be a bailout? The European Central Bank has said it will remove the life support tube on Monday. The head of the EuroGroup, which is a no-name committee of the eurozone’s finance ministers, said this: “I’m not sure that this package is completely gone and failed, because I don’t see many alternatives.” In short, “the Parliament had better reconsider.” Or else.

Or else what? Default? Cyprus’ departure from the eurozone? Do the Eurocrats want that? Do they want to risk a poster child for the PIIGS to imitate?

Meanwhile, panic builds. When the banks open their doors next week, they will face a true bank run. People now know: they cannot get their money. They never thought this could happen.

The central bank is playing kick the can. It is buying time. Maybe there will be a Plan B. Problem: if there is a Plan B, maybe the parliament will reject it. Then what?

A nation shuts down economically if its banks shut down. The banks can shut down in two ways: because of bank runs or by decree from the central bank. Today, the banking system has been shut down by decree.

The central bank cannot kick the can much longer. The economy will collapse without banks.

The British media are covering the story.

“We don’t have days or weeks, we have only hours to save our country,” Averof Neophytou, deputy leader of the ruling Democratic Rally party, told reporters as crisis talks in Nicosia dragged on into the evening.

Disaster looms.

The country’s two main banks – Laiki and the Bank of Cyprus – face potential failure if a bailout is not secured. One official told the Associated Press that Europe and the IMF were pressing for the two banks to be wound down. The Cypriot government was said to be considering the possibility of imposing capital controls amid fears that money would flood out of the country once its banks were reopened.

But if depositors cannot send their digital money out of the country, they can still demand currency. The effect is the same: bankrupt banks.

The central bank cannot print euros. It can bail out the system only if Cyprus pulls out of the eurozone. If it does, this will send a message to the PIIGS: “Get out. We did. Save yourselves. We did.”

Read more at Tea Party Economist

Cyprus isn’t the only country facing serious fiscal consequences from unsustainable spending, unfunded liabilities and overwhelming debt.

Robert Romano explains “How the government will steal your savings under Dodd-Frank“:

The people of Cyprus care more about their life savings than propping up financial institutions that lost billions on poor investments in socialist governments’ debts. The idea that somehow they, and not the banks that made those decisions, should bear the brunt of those losses was always disconnected from reality.

Yet that is precisely the presumption the establishment has made — that rather than banks raising substantially more capital to address systemic risk, you and I should pay for bank bailouts — in response to the ongoing financial crisis that began in 2007, and has actually become the basis for such proposals considered all over the world, including the U.S.

In 2009, the G20 asked the International Monetary Fund (IMF) to come up with ways the financial sector might supposedly contribute to its own bailouts.

The IMF study released in 2010 essentially proposed two types of taxes: a levy on financial institutions to create a pool of bailout funds, and a financial transaction tax.

Interestingly, what the IMF came up with as a suggestion had already been implemented a few months earlier by the U.S. Congress in passing the Dodd-Frank so-called financial reform legislation.

Under Dodd-Frank, the Federal Deposit Insurance Corporation (FDIC) is allowed to charge assessments to about 60 bank-holding and insurance companies with $50 billion or more in assets to fund what is called an “orderly liquidation fund.” Really, it’s just a bailout fund allowing the government to take over systemically risky institutions, recapitalize them, and allow them to reenter the market under new management.

The law, as well as the IMF study, presumes that the financial sector will bear these costs. But as a Congressional Budget Office (CBO) analysis of a similar bank tax proposal by the Obama Administration at the time noted, “the ultimate cost of a tax or fee is not necessarily borne by the entity that writes the check to the government. The cost of the proposed fee would ultimately be borne to varying degrees by an institution’s customers, employees, and investors, but the precise incidence among those groups is uncertain.”

Meaning, the assessments would actually be passed on to and paid for by savers and consumers of financial products through the indirect taxation of higher bank fees and other financial transaction costs. Americans for Limited Government warned lawmakers about just such an outcome prior to the legislation’s passage as an affront to private property rights.

[…]  At least in Cyprus the people’s representatives there actually had an opportunity to vote against such a levy. Whereas here, those fees are and will continue to be imposed by the banks with the blessing of government agencies — all without any vote in Congress.

It may happen sooner than anyone realizes. U.S. financial institutions are said to have as much $641 billion of exposure to financial institutions in Portugal, Ireland, Italy, Greece and Spain (PIIGS) according to the Congressional Research Service.

Should the Eurozone really break apart, and U.S. banks are caught in the crossfire, with the American people suddenly paying exorbitant fees for the “privilege” of conducting business electronically, they can decide for themselves whether this was a good idea.

That is, for Congress to outsource and give unlimited grant of its taxing authority to faceless bureaucrats acting in concert with an international banking cartel with the goal of bailing itself out of its own foolishness.

Read more at Net Right Daily

Deposit Taxes: Should We Prepare?

Nigel Farage Message To Europeans: “Get Your Money Out While You Can”

Steve Forbes: Here’s Why Cyprus Could Be A Disaster For All Of Us

Cyprus Lawmakers Vote Against Stealing From Depositor’s Bank Accounts To Fund Bailout

Crisis In Cyprus: Europeans Run On ATM’s, Trying To Stop Government From Stealing Their Money

Is Cyprus Deposit Levy The First Sign Of Widespread Wealth Tax?

10 Things That We Can Learn About Shortages And Preparation From The Economic Collapse In Greece

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