Tag Archives: July 17

July 17, 2012, Rush Limbaugh on trickle down economics, Business owners paid last, IRS governments paid first, Consumers make first payment

July 17, 2012, Rush Limbaugh on trickle down economics, Business owners paid last, IRS governments paid first, Consumers make first payment

Trickle-Down Economics “Doesn’t Work. It’s Never Worked.”…Obama December 6, 2011
“John F. Kennedy introduced the idea of a tax cut in the 1963 State of the Union address. The Johnson administration, working with congress crafted The Revenue Act of 1964. The goal was to raise personal income, increase consumption, and increase capital investments. Unemployment fell from 5.2% in 1964 to 3.8% in 1966. Tax revenues were predicted to fall but instead increased.”…Citizen Wells research

“The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”…Ronald Reagan

I caught part of the Rush Limbaugh show a few minutes ago. He was explaining trickle down economics, a topic often distorted, and certainly not understood by the left. Rush responded to the sometimes used reply of the left that business owners get their money first. Rush explained the things that had to get paid before the owners get their money. I would like explain this a bit further.

Rush Limbaugh has done a really good job over the years of explaining that companies do not pay taxes, consumers do. That is a fact. Therefore, let us begin with the income stream and it’s trickle.

When a consumer pays for a product or a service they are immediately paying the federal, state and other taxes. It is built into the cost of the product or service. When taxes go up, as they have during Obama’s tenure, it immediately affects the consumer and job market.

From the receipt of income, the following are paid in priority sequence. This is a general representation.

1. IRS takes priority over all. Remember, the employer part of social security & FICA as well.

2. Depending on the location, some combination of state, local, property taxes and fees.

3. Lease, loan on business location(s).

4. Utilities.

5. Equipment purchase and/or lease.

6. Travel & distribution costs

7. Research & development expenses.

8. Employee salaries.

9. Employee benefits

10. Misc supplies, etc.

11. Out of the remainder, if any, the owner can receive a salary, bonus or money to reinvest.

With the bad economy and high cost of gasoline, many small business owners have been struggling. I recently heard of a small business owner whose personal income had been greatly diminished. He was trying to keep the business alive for his sons.

The business owners are the risk takers and job providers. Hard work and risk that provides jobs should be rewarded.

July 17, 2012, Obama past hidden records and corruption ties convergence, Sheriff Joe Arpaio News conference, Ali Ata sentencing, Rezko lot sale to Obamas FDIC lawsuit Kenneth J Conner lawsuit

July 17, 2012, Obama past hidden records and corruption ties convergence, Sheriff Joe Arpaio News conference, Ali Ata sentencing, Rezko lot sale to Obamas FDIC lawsuit Kenneth J Conner lawsuit

“Why has Obama, since taking the White House, used Justice Department Attorneys, at taxpayer expense,  to avoid presenting a legitimate birth certificate and college records?”…Citizen Wells

“Ata also donated $5,000 to Obama’s campaign in 2003 and Rezko asked Ata to make straw donation to Obama’s campaign for $10,000″…Tony Rezko trial

“Why did Mutual Bank fire whistleblower Kenneth J Connor after he
challenged the appraisal on the land purchased by Rita Rezko, just
prior to the land sale to Obama?”…Citizen Wells

July 17, 2012 represents a convergence of Obama’s corrupt and hidden past. Sheriff Joe Arpaio will present a news conference, which according to lead investigator Mike Zullo will reveal shocking revelations. Ali Ata, a key witness in the Tony Rezko trial, who was seen coming and going from Rezko’s office frequently, as was Barack Obama, and who made standard and straw donations to Obama, is scheduled to be sentenced. Within a few days a status hearing on the FDIC lawsuit against Amrish Mahajan, who was president of Mutual Bank at the time of the loan to Rita Rezko for the lot that was purchased by the Obama’s, will be held in the courtroom of Judge Kendall. This is the same Mahajan and Mutual Bank that fired whistleblower Kenneth J. Conner, who as a whistleblower, questioned the appraised value of the lot.

From WND July 1, 2012.

“SHERIFF JOE SET TO RELEASE MORE OBAMA ‘SHOCKERS'”

“Sheriff Joe Arpaio and his Cold Case Posse investigating Barack Obama’s presidential eligibility have been promising more major revelations since their March 1 press conference, and now another event has been scheduled to unveil new information.

Arpaio told WND a press conference will be held July 17 at 2:30 p.m. local time at the Maricopa County Sheriff’s Office in Phoenix, Ariz.

WND will once again provide live Web streaming of the event.

The evidence will include information gathered in the posse’s recent investigative trip to Hawaii as well as an update on the ongoing investigation.

At the March 1 conference, as WND reported March 1, Arpaio and his Cold Case Posse announced there is probable cause that the document released by the White House in April 2011 purporting to be Obama’s original, long-form birth certificate is a forgery. The posse said it also found probable cause that Obama’s Selective Service registration form is fraudulent.

WND reported last month that a letter from Hawaii’s Department of Health verifying Obama’s birth in Honolulu has “opened the door” to some “shocking revelations” the posse is promising to disclose.

Among the details leaked early by Cold Case Posse lead investigator Mike Zullo: There are allegedly several stamps bearing Registrar Alvin Onaka’s name “floating around” inside the Hawaii Department of Health.

“I can’t disclose to you what we’ve discovered, but it’s going to be a shocking revelation at our press conference,” Zullo told Tea Party Power Hour host Mark Gillar in a telephone interview from Hawaii.

Three weeks after the March 1 press conference, Arpaio said there was “tons” more potentially shocking information on Obama in connection with his probe into the president’s eligibility.

Zullo has said he and his investigators have reservations about a letter stamped with Onaka’s name that was sent to Arizona Secretary of State Ken Bennett as verification of Obama’s Hawaiian birth.

Zulllo said the letter fails to list Obama’s birth date, and it’s merely stamped with the registrar’s name, while another set of initials – not Onaka’s – appears next to the signature.

“From what you’re telling me,” Gillar said, “it sounds like the next press conference is going to be even more amazing than the last press conference back on March 1st.”

“It will be,” Zullo responded. “The information … is going to be breathtaking when it’s released.””

Read more:

http://www.wnd.com/2012/07/sheriff-joe-set-to-release-more-obama-shockers/

Ali Ata sentencing and ties to Obama, Rezko, et al.

From Citizen Wells July 13, 2012.

“In the media, Obama made it sound like he rarely saw Rezko, saying they met for breakfast or lunch once or twice a year. However, the FBI mole John Thomas helped investigators “build a record of repeat visits to the old offices of Rezko and former business partner Daniel Mahru’s Rezmar Corp., at 853 N. Elston, by Blagojevich and Obama during 2004 and 2005,“…Chicago SunTimes February 10, 2008
“Thomas is an FBI mole and he “recently told us that he saw you coming and going from Rezko’s office a lot.””

“And three other sources told us that you and Rezko spoke on the phone daily.””…Chicago SunTimes March 14, 2008

“From the Tony Rezko trial.

“The witness some refer to as the government’s secret weapon — Ali Ata — is now on the stand.
Ata was very close with Tony Rezko, visiting Rezko’s Chicago office at least once a week to discuss business. Ata recently pleaded guilty to charges of tax fraud and lying to FBI agents about Rezko’s influence. Today Ata is testifying about his relationship with Rezko.”

“For instance, Ata said, he often saw Kelly King Dibble, a former Rezmar employee, who became director of the Illinois Housing Authority. But when Dibble balked at hiring a Rezko relative, Ata said, Rezko passed a message to Dibble “congratulating her on her new assignment,” and the new assignment was unemployment.

“It emphasized that you need to be a team player and follow the rules if you’re going to be a part of the administration,” Ata told the jury on May 1, 2008.

Dibble donated $250 to Obama on June 30, 2003, $250 on January 23, 2004, and $250 on April 25, 2007. She is now an attorney with the Northern Trust,Obama’s Land Trust holder. On September 30, 2007, Dribble donated $1,000 to Obama presidential campaign.”

https://citizenwells.wordpress.com/2012/07/13/obama-chicago-corruption-buddy-ali-ata-sentencing-july-17-2012-obama-and-ata-frequent-rezko-visitors-ata-real-and-straw-donations-to-obama-ata-obama-arab-connection/

Barack and Michelle Obama lot purchase from Tony and Rita Rezko, FDIC lawsuit against Amrish Mahajan, et al and Kenneth J. Conner lawsuit.

From Citizen Wells July 12, 2012.

“Here is what we know about the purchase of a lot by Barack and Michelle Obama from Rita Rezko in 2006:

1. “In June, 2005, Mutual Bank President and CEO Amrish Mahajan and
other Mutual Bank officers approved a loan to Rita Malki Rezko (Rita
Rezko) which was guaranteed by Antonin Rezko so that Rita Rezko could
purchase a 9,090 square foot vacant parcel of real estate at 5050 S.
Greenwood Avenue, Chicago.” (Conner lawsuit)

2. “On or about January 4, 2006, Rita Rezko entered into an
agreement with Senator Barack and Michelle Obama (Obamas) to sell a
ten-foot strip of the 5050 S. Greenwood property to the Obamas.”
(Conner lawsuit)

3. “In late 2005 or early 2006, Conner performed an appraisal review
of the Adams Appraisal (Exhibit C) per the directive of Richard Barth
and James Murphy. Conner prepared a written Appraisal Review report
(ARR) opining that the Adams Appraisal overvalued the Greenwood lot by
a minimum of $ 125,000.00 and that a reasonable and fair valuation for
Mutual Banks’s underwriting purposes should be no greater than $
500,000.00 for the entire 5050 S. Greenwood parcel as originally
purchased by Rita Rezko.” (Conner lawsuit)

4. “On or about October 19, 2006, Mutual Bank received a Grand Jury
Subpoena (GJS) requiring Mutual Bank to produce the Rezko 5050
Greenwood loan file, as well as a Rita Rezko Riverside District
Development LLC checking account and loan file.” (Conner lawsuit)

5. “In October, 2007, Conner had various communications with Mutual
Bank’s Human Resources Department representative, Lana Schlabach. In
an email communication of October 15, 2007, Conner directly referenced
“Resentment over my mentioned discovery of the removal/replacement of
an appraisal review that I conducted. That appraisal review contained
substantial observations and suggestions. The transaction and parties
involved were high profile in the media.I am under the impression that
the FBI has since looked at the file.”” On October 23, 2007, eight days after Conner’s October 15, 2007 email to Schlabach attached as Exhibit J, Mutual Bank terminated Conner’s employment for pretextual reasons.” (Conner lawsuit)

6. “On October 23, 2007, eight days after Conner’s October 15, 2007
email to Schlabach attached as Exhibit J, Mutual Bank terminated
Conner’s employment for pretextual reasons.” (Conner lawsuit)

7. The FDIC has filed a lawsuit against Mutual Bank, Amrish Mahajan, Richard Barth, et al.”

From the FDIC lawsuit against Amrish Mahajan, et al.

“6. The Director Defendants also wasted corporate assets and drained the Bank’s capital by…(c) authorizing $ 495,000 in “bonuses” to pay for the criminal defense costs for the Defendant Amrish Mahajan’s wife who was indicted for Medicaid fraud”

“32. The Director and Officer Defendants failed to establish procedures that would have lessened the risks of the Bank’s improvidant lending practices. The terms of transactions were not accurately documented. Status reports were missing so that records of how an asset was progressing were not available. Terms of loans were changed at closing without board or loan committee approvals or any rcord in the file. Loan guarantees were frequently missing from the files. Appraisers were retained by brokers with an interest in seeing transactions consummated, not by the bank. Appraisals were often received after the loan was funded. Loans were typically non-recourse and dependent on guarantor abilities to repay in the event that the collateral was insufficient. Yet, little or no attention was paid to whether guarantors had sufficient liquidity to protect the Bank’s interest; the officers and the Board did little or no analysis of guarantor or borrower financial strength.”

From the Washington Times November 4, 2008.

“A former Illinois real estate specialist says FBI agents have questioned him about a Chicago property that had been bought by convicted felon Tony Rezko’s wife and later sold to the couple’s next-door neighbor, Sen. Barack Obama.

The real estate specialist, Kenneth J. Conner, said bank officials replaced an appraisal review he prepared on the property and FBI agents were investigating in late 2007 whether the Rezko-Obama deal was proper.

“Agents and I talked about payoff, bribe, kickback for a long time, though it took them only a short number of minutes of talking with me while looking at the appraisal to acknowledge what they already seemed to know: The Rezko lot was grossly overvalued,” Mr. Conner told The Washington Times Monday.

“Rezko paid the asking price on the same day Obama paid $300,000 less than the asking price to the same seller for his adjacent mansion,” he said. “This begs the question of payoff, bribe, kickback.””

https://citizenwells.wordpress.com/2012/07/12/obama-land-deal-loan-president-mahajan-fdic-lawsuit-status-hearing-july-19-2012-judge-virginia-m-kendall-rezkos-sold-lot-to-obamas/

Finding many reports of this in the mainstream media lately?

Blagojevich trial Rezko not sentenced, Rezko key to Blagojevich and Obama guilt, Citizen Wells open thread, July 17, 2010

Blagojevich trial Rezko not sentenced, Rezko key to Blagojevich and Obama guilt

Tony Rezko has not been sentenced, unless it was done it complete secrecy. Tony Rezko was not called by the prosecution in the Rod Blagojevich trial. It is understandable why the defense team does not want Rezko on the stand.

From the Chicago SunTimes February 3, 2009.

“Convicted businessman Tony Rezko — who is poised to become a crucial witness in the massive corruption case against ex-Gov. Blagojevich — was quietly moved out of a downtown jail and into another facility last month, the Sun-Times has learned.”

“Rezko’s relocation is a sign that even with thousands of taped conversations of the governor, investigators still highly value Rezko’s potential as a witness. The MCC is considered by some inmates to have harsher conditions than county jails.
Upon his conviction in early June of schemes involving state deals, Rezko went to jail voluntarily, saying he wanted to start serving his time. Then, in August, the Sun-Times first reported that the 53-year-old Wilmette resident began meeting with prosecutors.
Rezko, who served as an adviser and fund-raiser to Blagojevich, provided authorities with substantial information involving the governor and bolstered pay-to-play testimony by former Illinois Finance Authority director Ali Ata, as well as talking about other alleged deals.”

Read more:

http://blogs.suntimes.com/rezko/2009/02/prosecutors_help_move_rezko_ou.html

Lou Dobbs, CNN, Obama birth certificate, July 17, 2009, Dobbs questions COLB, citizenwells.com

Lou Dobbs should have addressed the Obama eligibility last year along with the rest of the biased, irresponsible MSM, but better late than never. From Media Matters of all places:

“Dobbs repeatedly makes Obama birth certificate claims his CNN colleagues call “total bull”

July 17, 2009 7:26 pm ET “

“SUMMARY: Addressing an issue promoted by the far-right “birther” movement, Lou Dobbs repeatedly said on his radio show that President Obama needs to “produce a birth certificate” and that Obama’s birth certificate posted online has “some issues” — claims that have been dismissed and even ridiculed by his CNN colleagues.”

I put the Dobbs show audio on CitizenWells.com, which I have neglected due to being too busy.

Please excuse the website being under construction.

Listen to Lou Dobbs question Obama and his failure to provide a legitimate long form birth certificate.

http://citizenwells.com

 

Thanks to commenter Jonah for the info.

Obama charged with treason, Commander Walter Fitzpatrick, July 17, 2009, Obama Treason charges from the Military, Chalice Grand Jury update

Just in from Chalice of the Chalice Radio Show:

** This was corrected by Chalice a few minutes after the original post **

3 MILITARY OFFICERS CHARGE OBAMA WITH TREASON
Chalice 7-17-08

Commander Walter Fitzpatrick (Ret.) was the first Officer to charge Obama with Treason. Today, two additional Officers have signed charges of Treason against Obama, and more are sure to follow. Additionally, Carl Swensson will be soliciting for we, “The People,” as civilians to charge Obama with Treason. The Citizen Grand Jury will serve these charges to every member of Congress on August 2-5 such that there will not be a single congressman or woman who can stand behind a defense that they were not informed. The Citizen Grand Jury is working along with Gerry Donaldson ( http://www.drawaline.org/ ) to hold elected officials accountable to we, The People.

Check out Carl Swensson’s site ( http://www.riseupforamerica.com ) to get the most current updates on the status of Treason charges to be served to Congress on August 2-5. In addition, Carl is assisting others across the country in setting up Grand Juries regarding Obama’s eligibility to serve as President.

If you are interested in convening a Grand Jury in your state or county, contact Carl and Gerry Donaldson! Gerry Donaldson’s expertise teaches America about the Citizen Grand Jury process for we, The People, to constitutionally hold elected officials accountable to their oath in office. This applies at all levels of government.

Serving Congress with notice of the grievances, provides evidence of The People’s grievances and is part of holding them accountable to their oath of office.

As Citizen Journalists, with the purpose of recording history in the making, PatriotsHeartNetwork is traveling with the Citizen Grand Jury to Washington DC on August 2-5 to hand serve, with receipts, EVERY member of Congress the following:

1) Treason charges from the Military
2) Treason charges from Civilians
3) Grand Jury Presentments from the Citizen Grand Jury and the American Grand Jury
4) PETITIONS FOR REDRESS.

We the People Congress has prepared legal Petitions for Redress which were initially served to Congress in June 2008. Our teams will serve the 2009 Congress while in Washington, with receipts of service. Read and sign these IMPORTANT petitions Here
( http://www.givemeliberty.org/RTPLawsuit/SignPetitions.htm )

We ask you to travel with us in email, in twitter, on facebook, on the air…. in person…. However you are willing and able! Call your Congressmen and women, make an appointment for them to be personally served! Contact your Congressional officials showing your support, both beforehand and during the three day marathon! Your involvement will help to build the momentum and it will help to protect those who are making this journey to DC on Aug 2-5, 2009. Your participation WILL make a difference and you will be able to see that difference as you follow the teams.

Also, donations are needed to get both teams there! Please go to our website http://www.Patriot’sHeartNetwork.net to help send a team to Washington! Your donations are much appreciated and will pay for travel and lodging for the 5 teams. Each team consists of a Citizen Grand Jury Representative and a Citizen Journalist. It will take 3 very long days to serve all 535 members of Congress.