Credit Card 'Reform' Will Force All Credit Purchases to Exceed $10
Posted by admin / Under Credit Default Swap
Previous to the current meddling by Congress, stores were technically not allowed to require a minimum purchase for credit cards. If you wanted to charge ten cents or ten dollars merchants were supposed to accept the charge. But the Durbin Amendment (Sen. Dick Durbin, D of Ill.) to the credit card "reform" bill passed by Congress will change all that by allowing stores to set a minimum charge amount of $10 before you are allowed to use your credit card to purchase something. This is just one more way that Congress is reaching into your pocket and taking your money....
Published on Monday 6th of September 2010 09:45:32 PM
UPDATE 1-Obama to propose permanent research tax credit
Posted by admin / Under Credit Default Swap
(Adds details) WASHINGTON, Sept 5 (Reuters) - President Barack Obama will ask the U.S. Congress on Wednesday to increase and permanently extend a tax credit for business research as a way of boosting job growth, an administration official said on Sunday. The proposal would cost $100 billion over 10 years, and Obama would pay for the plan by closing other corporate tax breaks, said the official, who spoke on condition of anonymity. Obama will call on Congress to increase to 17 percent from 14 percent one of two credit options available to businesses, the official said.
Published on Monday 6th of September 2010 09:45:32 PM
Banks take aim at credit unions' tax-exempt status
Posted by admin / Under Credit Default Swap
Banks take aim at credit unions' tax-exempt statusBy Mike Ivey | The Capital Times Posted: Sunday, September 5, 2010 5:00 am Amid the worst recession in a generation, the banking industry is again challenging the tax-exempt status of credit unions. As nonprofit, member-owned institutions, credit unions have long been exempt from corporate income taxes at both the state and federal level. The idea is that credit unions provide a public service by offering loans to those who might not otherwise have access to credit. **SNIP** "With local, state and federal governments all facing serious budgetary emergencies, the largest and most...
Published on Monday 6th of September 2010 09:45:32 PM
Biden Hails Credit Score (Asks Pizza Shop Owner "How in God's name did you get credit?")
Posted by admin / Under Credit Default Swap
Since practically Day One of the Obama administration, there's been a crystal clear message: Credit lines have to loosen in order to improve the economy. "It's a recovery that will be measured by whether families and entrepreneurs can get the loans they need," President Barack Obama said in 2009."That's why we're freeing up credit that's frozen with a program that supports the market for more car loans, and student loans, and small business loans; and with a plan that will partner government resources with private investment to break the logjam that is currently preventing our banks from lending money to...
Published on Monday 6th of September 2010 09:45:32 PM
Post-Traumatic First African-American President Syndrome?
Posted by admin / Under Credit Default Swap
Are you highly critical of the president? Do you find that you don’t thank him nearly enough? Are you not giving him the credit that he deserves? Well it just might be that you are suffering from, “POST-TRAUMATIC FIRST AFRICAN-AMERICAN PRESIDENT SYNDROME or PTFAAPS!” That’s right America, like, who knew that there was such a thing? But apparently, there is, according to Progressives. One progressive in particular coined the term. Liberal commentator and MSNBC contributor Karen Hunter said she is the one who named the disorder. Apparently, “post-traumatic first African-American president Syndrome” is the diagnosis if we Americans don’t give...
Published on Monday 6th of September 2010 09:45:32 PM
"Hawaii is not a state of mind, but a state of grace."
by Paul Theroux
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