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14 things...good re-read after debate.

Posted by on Sep. 20, 2012 at 2:09 PM
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I posted this before the debate, but I think it's worth a re-read...it IS a long post. Some of the points on here Obama shares with Romney. (#3 comes to mind)

 14 Things Obama doesn't want us to know....

1. Income Inequality Is Worse Under Obama Than Under Bush
The rich took home a greater share of America's income pie from 2009 to 2010 than they did between 2002 and 2007, according to an April analysis from Emmanuel Saez, a professor at the University of California, Berkeley. That means the gap between the rich and the poor was more pronounced under Obama's presidency than under George W. Bush's.
 
2.Prosecution For Financial Fraud Hit A 20-Year Low During The Obama Administration
Despite Obama's promises to crack down on Wall Street, federal prosecutions of financial fraud hit a 20-year low last year, according to a November study from a watchdog group.

The number of these types of prosecutions has been falling every year since 1999 -- in other words, there were more prosecutions during every year of George W. Bush's presidency than during every year of Obama's.
 
3.Obama Wants To Lower The Corporate Tax Rate
Some of America's most profitable companies used a variety of loopholes to pay less than zero in taxes between 2008 and 2010, according to a November 2011 report from the Center for Tax Justice. But the Obama administration wants to make it even easier for corporations to have a smaller tax bill; Obama proposed a tax overhaul that would cut the corporate tax rate from 35 percent to 28 percent.
 
4. Health Care Reform Won't Make Health Care Cheaper For Most Americans
Once the health care law takes effect, insurance companies will be footing the bill for millions of previously uninsured Americans and for those who were denied coverage for pre-existing conditions. And health insurance companies will likely pass on to consumers the cost of insuring the new patients.

After Massachusetts enacted a similar health care plan in 2006, premiums for an individual plan in the state
rose 18 percent over three years.
 
5.Obama's Housing Programs Have Largely Been A Failure
In 2009, Obama announced the Home Affordable Mortgage Program, promising to help 3 to 4 million borrowers, but as of January -- more than three years into the program -- HAMP had only reached 1 million borrowers. In an aim to give the program legs, administration officials changed the rules in January to make more borrowers eligible. Still, the fixes were likely too little too late, experts said at the time.
 
6. Homeowners Haven't Seen Much Out Of That Huge Mortgage Deal
The Obama Administration touted the $25 billion mortgage deal it reached with 49 states and the big banks to settle allegations that banks mishandled mortgages. As part of the settlement, banks said they would offer at least $10 billion in loan forgiveness to homeowners. But months after the deal was inked, banks have been slow to hand out the money.
 
7. Democrats Have Received Lots Of Campaign Cash From Bain
The Democratic National Convention will feature employees of firms run by Bain Capital -- the private equity firm where Mitt Romney was formerly CEO -- likely in an aim to raise questions about Romney's tenure at the now-controversial company. But Democratic candidates and committees had actually netted double the amount of campaign cash from Bain workers as of May than their Republican counterparts since 2008, according to the Boston Globe.
Now, Republicans are beating their Democratic colleagues in Bain cash, with
58 percent of donations from Bain employees going to Republican candidates and parties, according to the Center for Responsive Politics.

CORRECTION: An earlier version of this slide misstated that Democrats were receiving more donations from Bain employees than Republicans. That was the case in May. As of September Republicans are receiving more donations from Bain employees.
 
8. Goldman And Other Wall St. Firms Have Largely Escaped Punishment For Their Role In The Financial Crisis
The announcement last month that the Justice Department wouldn't be prosecuting Goldman Sachs over allegations surrounding the financial crisis was a reminder for many that the Obama Administration has largely let banks off the hook for their role in the meltdown. And regulators and officials may be running out of time; the statute of limitations for crimes related to the financial crisis is fast approaching, according to The New York Times.
 
9. The Revolving Door Is Alive And Well In Obama Administration
Many current and former members of the Obama Administration have ties to Wall Street. The list includes the president's current and former chiefs of staff -- Jacob Lew and Bill Daley, respectively -- as well as his former budget director, Peter Orszag, and others.
 
10. Too Big To Fail Banks Have Grown Under Obama
At the end of 2011, five big banks, including Bank of America and JPMorgan Chase, held 56 percent of the U.S. economy, according to Bloomberg, compared to 43 percent five years earlier. That's right, the too-big-to-fail banks have actually gotten bigger.
 
11. The U.S. Has Gained A Lot Of Low-Wage Jobs During The Recovery
Welcome to the U.S. of Low-Wage America. Most of the jobs lost during the recession paid middle wages, while most of those gained during the recovery were low-wage jobs, according to a recent study from the National Employment Law Project.
 
12. Incomes Declined More During The Recovery Than The Recession
Median household income fell 6.7 percent between June 2009, when the recession technically ended, and June 2011, according to a Census Bureau study cited by The New York Times. That's more than the 3.2 percent incomes fell during the recession, between 2007 and 2009.
 
13. Payroll Tax Cut May Expire On Obama's Watch
Last December, congressional Democrats managed to save the payroll tax cut for one more year, giving 122 million workers a few extra bucks each paycheck, but now that boost may quietly disappear, according to the Wall Street Journal. That's because the White House won't be pushing for another payroll tax cut extension this year.
 
14. Many Top Obama Donors Are Employees Of Major Corporations
Of the top 10 companies with employees donating money to Obama's campaign, three are big banks: JPMorgan Chase, Citigroup and Goldman Sachs, according to the Center for Responsive Politics. Some of Obama's other major contributors include employees from big companies such as Microsoft and Google.
 
 
 

 

 
by on Sep. 20, 2012 at 2:09 PM
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143myboys9496
by Suzzanne on Sep. 20, 2012 at 2:18 PM

 I can personally attest to #'s 4, 5, 6, and 12.

#4--what comes out of my check weekly has gone up, but in all truthfulness it's not that much that I noticed..I'd have to go back and check from year to year. This might be due to my employer..idk..

#5 & 6--The loan to value ratios for HARP and HAMP are almost at equity level. Meaning if my loan to value ratio was at the required levels of HARP AND HAMP I'd be able to get an equity loan.

#12--I'll be honest mine has stayed steady, it's my dh's that has declined. Not to mention he's working almost 60 hours a week to equal what he was making 4 years ago.

143myboys9496
by Suzzanne on Sep. 20, 2012 at 2:22 PM

 I also have to say with regard to #4...the way MA does their "masshealth" is a model that could be used as a blueprint for other states. They can tweak it as necessary.

I think it's reprehensible for insurance companies to deny coverage for people due to existing conditions and just arbitrarily drop insureds.

IMHO next on the hit list should be the pharmaceutical companies..that's another racket.

lillucky8
by Jen on Sep. 23, 2012 at 4:40 PM
Hmmm
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lasombrs
by Sara on Sep. 24, 2012 at 7:55 AM

For #1 you have been saying most things he accomplished were because of layover from the last presidency. I think it takes time for ideas to be put into affect. so if all his success is because of someone else then I would say that this difference in income which is usually a republician thing anyway is left over from Bush and if they are closer together under ROmney (if he wins) it will be from Obama.

#2 is this data based on cases filed or cases closed? If its filed then fine. If its closed then how back up are the cases in the system? Have they settled out of court somehow? Have they just closed entirely?

#3 Romney purposes to cut it to 25%. Lots of people claim they will do something and don't.

#4........ Romney inacted that healthcare plan in 2006!!!!!! So how will his plan save us any more money then Obama's plan?  and the current masshealth that you think is great was not Romney's plan it had been changed since he left office

#5 I don't own a home and have no understanding of morgages so I can't understand this information

#6 When have you seen a bank quick to hand out money? I still feel it will be done or the banks will have to go out of business and they dont want that but they dont have to act quickly either.

#7 has its own correcttion that the republicans are recieving more. Has anyone ever won the election without taking money from large corporations?

#8 Is this because there is not enough evidence to actually convict in court? Purhaps it saves the country money but not having a long drawn out course case costing tons of money and having him walk anyway because of reasonable doubt?

#9 Is he the only president to ever have people on Wall street? I don't understand this one I guess.

#10 Did they buy up the smaller banks and investors which made them bigger? Did private sectors drop out because of crisis? He may not have said to they hey you guys need a little more control, it may have been the product of other things happening and gave they a higger %

#11 Yes jobs pay less now. Its because of the recession. Business owners know people are desperate for a job at this point and are now paying less because they know they will still fill the position with a qualified hard working person anyway because the people need the money. At least some were gained imo. I think americans depend on living on to high a standard and living on credit. Its easy to live off a low income job if you dont think you need a brand new car every 2-3 years fancy designer clothes and waste money on other items.

#12 wouldn't you not see the decline in income until after people lost their job? If you look at taxes for someone who lost their job in 2009..... it will show their income for all of 2009! It won't show they are out of work until 2010 or that they got a lower paying job instead until the next years taxes.

#13 why should he push for something that may benefit another president right now? So if Romney wins everyone can say oh look payrool taxes were down during his first 3-4 years. While that would be left over from the last president much like you claim all of Obama's success is? I don't see how its bad for him to have success from the last president and yet terrible if he doesnt do the same for the next guy. You can only want it one way if you want to be fair I think

#14 Who are Romney's top donors? are none of them from major corporations? This is another one of those things that I think every single president has so how is it bad for one guy but not the other? That makes no sense to me

143myboys9496
by Suzzanne on Sep. 29, 2012 at 4:02 AM

 First let me say, I personally didn't come up with these 14 points. I pulled them off of AOL news.

Let me also say that, I've read (I cannot remember the mag) that in 2008 the majority of Obama's financial election support came from banks. (Romney's major support is also from banks for 2012). Most of Obama's largest donators come from Microsoft, Google, Harvard..to name a few.

It's also public that no one from any of the banks have been convicted of fraud. It has nothing to do with a backlog. NO ONE has been prosecuted for screwing over the American people.

With regard to the mortgages and banks, the 25mil was a settlement against Wells Fargo, Bank of America, and I believe another bank who's name escapes me. For mishandling of mortgages, more specifically fraudulent forclosures. They had unqualified people just literally signing off on foreclosing on homes without reviewing documents. In many cases the required documents weren't in the files and in even more cases the banks shouldn't have foreclosed on the homes. So countless people had their homes forclosed that shouldn't have, they're the ones that the banks owe 25mil to.

I get that banks aren't eager to hand out the 25mil, but it doesn't make it right. These banks took homes from people that they shouldn't have, the banks should pay up.

ckroch
by Colleen on Sep. 29, 2012 at 6:09 AM
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I dislike politics. I dislike Obama more...
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