Republicans In Michigan: We Want To Steal ALL The Money!
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-06-12 09:34
by Karl Denninger
in Politics
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Republicans In Michigan: We Want To Steal ALL The Money!
 

For those who are unaware there's somewhat of a nasty fight going on in Michigan associated with McCotter's seat.

A bit of background is required.

McCotter was off having a fun junket in Asia and didn't bother submitting actual unique and valid petitions to achieve the ballot in Michigan.  Kerry Bentivolio, however, did.

McCotter apparently did try to submit petitions, incidentally -- some 1800 of them.  There was a wee problem -- it appears that a material number of them were photocopies -- that is, duplicates, as only 244 signatures were valid.  This is of course illegal and when the petitions were looked at for validation they were tossed and as a result he will not be on the ballot.  He did draw a probe for this and may face prosecution (yeah!)

The Republican "establishment" is rather*****ed.  They ought to be*****ed at good old McCotter, who apparently thought that playing junket instead of bothering to qualify for the ballot was a great idea.  The good news is that Kerry Bentivolio, a man who I happen to support, is on the ballot (look to the right sidebar.)  He is "reputed" to be a Tea Partier; the truth appears to be that he understands what a balanced budget is and has as his headline:

Why I am Running: the System is Broken, the Economy is Broken, and Corruption is the Cause

Oh my.  And guess what -- the root stance of his candidacy is the rule of law being applied equally to everyone, The Declaration (that is, you have the right to life, liberty and pursuit (but not a guarantee) of happiness without interference by government) and he understands that what we have now is fascism -- indeed, this is what he says right up on his home page:

"Most people do not begrudge others their fortunes and success when it has been earned in a legal manner. Yet, most folks are rightly outraged when certain persons steal from the general populace by either engaging in illegal activity or purchasing special exceptions to the laws that apply to the rest of us. When certain persons buy favoritism from elected officials and profit off of our hard work, we all ought to be outraged. This is not capitalism, it is fascism." )

Banksters beware!

He also understands the 10th Amendment and supports it -- one of the few politicians who does.

So what is the jackboot party, uh, the Republican party, intending to do?  They're going to embrace Kerry and work to get him elected, right?

Nope.  See, they're in the pocket of those very same banksters and love corruption -- along with being addicted to stealing all your money and running serial ponzi schemes.

Nancy Cassis, a former State Senator, is threatening a "write-in" run to try to beat Kerry in the primary! 

Now this would be laughable but she's actually serious.  What's disgusting beyond words and ought to be felonious is how hard she tried to financially rape every Michigander when she was a State Senator.

I'm talking about this bill from 2006, SB 1360:

Introduced by Sen. Nancy Cassis (R) on July 26, 2006, to allow a local government to borrow money to establish a fund to pay the unfunded liabilities created by employee contracts that promise government workers lifetime health care benefits after they stop working.

Oh, but it gets better -- you see, issuing debt to fund an exponentially-expanding expense wasn't enough.  Nancy appears to have been well-aware that this was doomed to fail and that the bonds would eventually default -- after all, health care costs have risen by about 9% annually since 1980.  But don't worry, she had a solution for that -- the bill had a "poison" clause in it:

Sec. 519. Municipal securities issued under section 517 or 518 shall also be secured by the general fund of the county, city, village, or township and shall include the phrase "general obligation limited tax" in the resolution authorizing the issuance. The county, city, village, or township issuing the municipal securities is not authorized to levy any tax not authorized by law at the time the municipal securities are issued to pay for the municipal securities.

Read that carefully.  If you're confused it's probably because you were supposed to be confused.

What it says is that the municipality cannot impose a tax they could not otherwise impose (e.g. a new tax) but that if the borrowing was to fail -- say, for instance, the return on the invested capital was insufficient to cover the bond principal and interest and/or the exponential growth of these medical expenses simply overwhelmed the money available, then you would be assessed on your other taxes, such as property taxes, without the right to vote it down, to cover the deficiency.

And what was the original purpose of this bill? 

To cover the outrageously generous lifetime medical benefits of state and local municipal employees -- you know, all those wonderful unionized folks who have gold-plated pensions and can retire at 50 while the rest of you -- the working man and woman -- starve!  This, for an expense profile that at the time was known to be growing at roughly 9% compounded a year, and still is -- that is, an expense profile that doubles every eight years.

This is the woman who wants McCotter's seat.  She is the worst sort of politician, the type who tries to sneak through in the dead of night bills that will impose outrageous taxes on you to pay off the favored few to cover benefits that are impossible to pay, were known to be impossible to cover when they were promised, and are guaranteed to impoverish you.

THAT is the "mainstream" Republican Party and the reason they don't like Kerry is that he refuses to play the "screw you, the common man, for the benefit of the 1%" game.

Nancy Cassis, along with the entire Rethuglican establishment that supports her, need to be pelted with rotten tomatoes and eggs until they cede the stage and are driven from public life.

Elect Kerry Bentivolio and put a stop to this crap in the 11th District of Michigan.

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User Info Republicans In Michigan: We Want To Steal ALL The Money! in forum [Market-Ticker]
Bertdilbert
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Definition:

Property Tax: Where you are accessed money to pay for unionized workers with better pay and benefits than you, where part of the money you give will be used to increase the number of unionized workers, and pay, and benefits via bribing the politicians with THE MONEY YOU PROVIDED, resulting in yet even higher property tax assessments.

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Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Oldpool
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I think that is what Ron Paul's supporters are trying to do, change the republican party. I would say they are the only ones doing this.

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Liberty, Comrade!
Bertdilbert
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Oldpool, Ron Paul supporters pretty*****ed off right now...


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Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Jstanley01
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If we could just get one person in CONgress to stand up and speak the truth...

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You can't cheat an honest man. ~P.T. Barnum
12bolt
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This may be off-topic a bit but maybe not.

Last night I was enjoying a cold beverage with an acquaintance who is a public school teacher. We were talking about his school.

He said his boss, the principal, was running for county commissioner. My 'friend' said that he would vote for his boss because his boss would 'funnel more money into the school system'.

It was all I could do not to completely blow a gasket right then and there. Fortunately I was on beer #2 rather than #6... :)

Who's money would this FSA soldier take? Mine.

Nobody who receives any benefit or subsidy from the government, be that as an employee, contractor, SS recipient, SNAP recipient, UE recipient, TARP recipient, GM employee, oil company employees (subsidies), or farmers (subsidies) should be able to vote in any election. All they do (that is the FSA voters) is vote for the politician who promise more free ****. If you get money from the government in any form, then by voting you are creating a real conflict of interest IMO. Even home debtors like myself get a 'benefit' of the mortgage interest tax deduction. Although at tax time, I had to pay an additional $1200 to the IRS beyond the 20% of my gross that was removed (FIT, SIT, SSI, Medicare) from my paycheck during the year. What a country!

Back on topic:

These red team/blue team people are very amusing. They're more loyal to their Party than they are to the country.

The red team doesn't give two ****s about us and neither does the blue team. They only care about getting re-elected and about pleasing those who fund their re-election. The MSM perpetuates the myth that the two teams are actually different when all the evidence shows that not to be true.

But Americans would rather enjoy a pleasant lie than confront the ugly truth. Anybody who's tried to share what is discuss here with friends and acquaintances knows that to be true. If it doesn't come out of their TV or AM radio, they just don't believe it.

This is why we are ****ed. And the majority of Americans aren't going to wake up until they're hungry and their pantries are empty. Then all hell breaks loose.

Americans will do the right thing when all other options have been exhausted, or so said Winston Churchill, approximately.



Anti
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Quote:
Nobody who receives any benefit or subsidy from the government, be that as an employee, contractor, SS recipient, SNAP recipient, UE recipient, TARP recipient, GM employee, oil company employees (subsidies), or farmers (subsidies) should be able to vote in any election. All they do (that is the FSA voters) is vote for the politician who promise more free ****.


I agree with this but I wonder where you would put serving military, career veterans and disabled (by their service) veterans.

It seems kind of rough to deny a voice to those who bear the brunt of policy most heavily.

ETA - There would be darn few voters left by the time you reduced voter eligibility this way. Not that that in itself is bad, but it gives a window into how corrupted the body politic has become. Maybe 5% of the the electorate could qualify to vote.

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Sunkeye
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any pol who has ever taken any junket to any place for any reason
is a crook - this is my working rule

there may be exceptions to the rule but they better be damn good ones

mccotter unfortunately is just another example

polticians in the main prove themselves to be scum - over and over and over
Uppity_peasant
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And at the national level:

House Republicans Just Can’t Bring Themselves To Cut Spending
http://www.redstate.com/erick/2012/06/11....

Quote:
Did you know that House Republicans are still defeating amendment after amendment to cut spending — even relatively small amounts?

You probably didn’t realize this because, for some reason, no one is reporting it. So here are just a few of the amendments the House defeated last week. If you’re not happy with this record House Republicans are compiling this election year, let them know now!

Amendments to H.R. 5325, the Energy and Water Appropriations Act, which contains more spending than last year’s bill:

McClintock (R-CA) – Cuts the Energy Efficiency and Renewable Energy program by $1.45 billion. Rejected 113-275.
Chaffetz (R-UT) – Cuts the Advanced Manufacturing Program by $74 million, to FY 2011 levels. Rejected 140-245.
McClintock (R-CA) – Eliminates nuclear energy research subsidies (saves $514 million). Rejected 106-281.
Chabot (R-OH) – Eliminates funding for the regional commissions, such as the Appalachian Regional Commission (saves $99.3 million). Rejected 141-276.
Blackburn (R-TN) – Cuts 1% across the board (would cut $321 million). Rejected 157-261.
Mulvaney (R-SC) – Brings the bill toward RSC budget levels by cutting a total of $3.1 billion across almost all accounts. Rejected 125-293.
King (R-IA) – Prohibits funding of Davis-Bacon union wage requirements. Rejected 184-235.
Flake (R-AZ) – Across the board spending cut that would keep funding at FY 2012 levels ($87.5 million savings). Rejected 144-274.

And note that, while Members were voting against spending cuts, they also passed a Legislative Branch Appropriations bill (H.R. 5882) that would keep congressional office operating budgets the same as last year. The same? No cuts, even while Americans all over the country have to cut back their office operating budgets? Can our representatives really be this out of touch?


comments @ http://www.redstate.com/erick/2012/06/11....

Frack the fracking Republicans (Red Team).

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I guess I'm uninformed. Why does someone already in congress from a district have to go collect signatures to get on the ballot? Didn't they already do that once?
Flappingeagle
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Quote:
The red team doesn't give two ****s about us and neither does the blue team. They only care about getting re-elected and about pleasing those who fund their re-election. The MSM perpetuates the myth that the two teams are actually different when all the evidence shows that not to be true.


A friend of mine ran for congress two years ago. After he got enough signatures and was on the ballot "the party" sent some people to meet with him. He said all they talked about was the party. Nothing about the country or making things better or anything else, just party, party, party. He said he was sick of the party after the first meeting.

Flap


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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
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The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
Mannfm11
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I wonder what it costs the establishment to get a candidate elected that is bought and paid for? The Republicans clearly run 2 sets of books. What they tell the world and what they actually do. So do the Democrats. We need to elect 300 reps that recognize the 10th amendment and will impeach any Federal Judge that doesn't. Waging war against the states is treason.

Thomas Jefferson said that if they ever centralized power in DC, the US government would be the most corrupt institution on Earth. I would guess the EU would give it a race, as would any of these other centralized mafias, but this one is in the ballpark. What the hell is wrong with the guy that is going to be on the ballot? What the hell is so important about this jackass that too stupid to follow the election rules? His actions have proven him unreliable and dishonest.

Voting for these jackasses shouldn't even be important, but it is. It shouldn't be important, because they should have so little power in a Republic that we shouldn't have to worry about them. There are a very limited numbers of areas the Federal government has ever proved itself as influential in a positive manner. The power of the President lies in appointment, war and foreign policy. Look at the messes there. Washington knew what he was talking about.

The Federal Government is the government of the establishment. I would suspect the establishment has its roots in Europe and we don't really have a picture of them. The purpose of government is to protect the rights and property of the individual. The purpose of the State is to protect the standing of the establishment. At the head of the list, the establishment spells Bank, a system of money that channels a permanent, perpetual, free income to a small group, by arrangement of government. We can surely buy stock in banks, but being Americans, any significant accumulation to span generations is taxed away. The true establishment would never pass laws that would expose their personal estate to this kind of taxation. Helmsley said taxes are for little people. She didn't think that up as an original thought.

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Wineaux
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Karl – Great ticker. This is a glaring example of why we will hit the wall at full throttle and end up in a million little pieces. smiley

To honest politician has his work cut out for him/her. Not only do you have a monumental task to pull the sheeple out of the “matrix” by telling the truth about the current army of financial rapists, in additional one also now has to fend off the cannibals in their own political party.

This is truly disgusting. smiley

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Mann-

Many of your gripes are gripes against capitalism not fractional reserve in its current form:

Quote:
a system of money that channels a permanent, perpetual, free income to a small group, by arrangement of government

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Quote:
Why I am Running: the System is Broken, the Economy is Broken, and Corruption is the Cause
Works for me! ...sure wish I could vote in that MI district.

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You can't defeat the combined effects of massive voter fraud, the Free **** Army, and the entire bought and paid for media complex. This nation is done.
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Well I'm in the 11th District and I can tell you that people here just dont give a damn, same as everywhere else. They will swallow all the spin and blindly support Cassis without so much as a second thought -- if they dont blindly support the annointed democrat! People just cant think for themselves. As long as that is true the integrity of the candidate does not matter. All it takes is one sentence from a Rush Limbaugh and the drones fall in line. One well placed "Remember 9/11!" is all it takes to undo hundreds of hours of effort in trying to get people to wake up.
Mayorquimby
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Quote:
One well placed "Remember 9/11!" is all it takes to undo hundreds of hours of effort in trying to get people to wake up.


...and millions of years of instincts that should be screaming out, warning that self-preservation is in jeopardy.

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They who wish to hurt you, work within the law.
- Morrissey

Gold is theft.
End_the_bubbles
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Quote:
Nancy Cassis, along with the entire Rethuglican establishment that supports her, need to be pelted with rotten tomatoes and eggs until they cede the stage and are driven from public life.


Tomatoes and eggs? smiley

Please, that's terribly insufficient.

This is what is ultimately needed, but people haven't been pounded in the ass hard enough yet. Maybe another decade will do it..........


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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
Ignorantsavage
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Bertdilbert,

cgreene34 has an interesting assortment of youtube videos:

PROOF!!! Ron Paul Sold Millions Of Email Addresses
Ron Paul A Traitor?

Doesn't strike me as a typical Ron Paul supporter.

Granted, the silence is disturbing. Rand isn't Ron, and neither do my father and I agree on all matters political, but Ron's endorsement of his son years ago did carry the implicit acknowledgement that he agreed with his son's view of Constitutional principles. As such, I don't see how Rand Paul could be "happy to support Mitt Romney".

We've had ten decades of political maneuvering and Freedom has LOST. One hundred YEARS of losing isn't a large enough hint that a change in tactics might be in order, perhaps instead of constant concession something along the lines of standing on principles?

Kerry Bentivolio can use all the help he can get. The establishment is doing its level best to grind him into the dirt, just as they do with every principled candidate. The "liberty-loving" liars at Fox, hotair, etc. did the same thing to Adam Kokesh because having a candidate that knows that governments' power is derived from the CONSENT OF THE GOVERNED is just unacceptable to them.
Bsfootprint
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12bolt wrote..
He said his boss, the principal, was running for county commissioner. My 'friend' said that he would vote for his boss because his boss would 'funnel more money into the school system'.

It was all I could do not to completely blow a gasket right then and there. Fortunately I was on beer #2 rather than #6... :)
"Why do dogs lick their balls?"

"Because they can."

Which offers a pretty decent insight.

No point getting angry. Just prepare as best you can for the inevitable collapse. It will happen, because it must. And people like your acquaintance won't know what hit them.

Just think twice about helping them out when the SHTF. Those who brought it on themselves need to experience the full impact in order for them to learn from the experience. Talk won't do it. Reasoning and logic won't do it. Suffering might.

12Bolt wrote..
And the majority of Americans aren't going to wake up until they're hungry and their pantries are empty. Then all hell breaks loose.

Americans will do the right thing when all other options have been exhausted, or so said Winston Churchill, approximately.
Sadly, they may not do the right thing, given the conditioning of the last 100 years. Try not to forget that.

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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...

Patriotpete
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Eric Hovde who is running for the Senate in Wisconsin seems to be carrying a similar message. Has been hammering on crony capitalism and the need to prosecute Wall Street and Washington despite his background in money management.

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