The Capitalist System Is Facing Its Worst Crisis Ever

I said quote where the Constitution says that, it lists the specific purposes for which the federal government can tax the citizens, list the one that says to control the population.

 

"ACORN recognized very early the opportunity presented by the Community Reinvestment Act (CRA) of 1977. As Stanley Kurtz has reported, ACORN proudly touted "affirmative action" lending and pressured banks to make subprime loans. Madeline Talbott, a Chicago ACORN leader, boasted of "dragging banks kicking and screaming" into dubious loans. And, as Sol Stern reported in City Journal, ACORN also found a remunerative niche as an "advisor" to banks seeking regulatory approval. "Thus we have J.P. Morgan & Co., the legatee of the man who once symbolized for many all that was supposedly evil about American capitalism, suddenly donating hundreds of thousands of dollars to ACORN." Is this a great country or what? As conservative community activist Robert Woodson put it, "The same corporations that pay ransom to Jesse Jackson and Al Sharpton pay ransom to ACORN."

ACORN attracted Barack Obama in his youthful community organizing days. Madeline Talbott hired him to train her staff -- the very people who would later descend on Chicago's banks as CRA shakedown artists. The Democratic nominee later funneled money to the group through the Woods Fund, on whose board he sat, and through the Chicago Annenberg Challenge, ditto. Obama was not just sympathetic -- he was an ACORN fellow traveler."
https://www.realclearpolitics.com/articles/2008/09/acorn_obama_and_the_mortgage_m.html

 

EXCISE TAX !!!!

And Excise Tax is literally that by definition.

 

Here is the CRA. Show me where it says they have to make loans to a specific person, or that they must change the credit requirements for a borrower ?

https://www.federalreserve.gov/consumerscommunities/cra_about.htm

You can post all the made up stories you want. the CRA does not change credit requirements for borrowers.

 

Refute what I posted and how the CRA was used to force bad loans and Obama's Chicago roll in the matter.

 

As I thought you can't show where the Constitution says the purpose of the tax system is to control the population.

What Is an Excise Tax?
An excise tax is a legislated tax on specific goods or services at purchase such as fuel, tobacco, and alcohol. Excise taxes are intranational taxes imposed within a government infrastructure rather than international taxes imposed across country borders. A federal excise tax is usually collected from motor fuel sales, airline tickets, tobacco, and other goods and services.1


Excise taxes are primarily for businesses. Consumers may or may not see the cost of excise taxes directly. Many excise taxes are paid by merchants who then pass the tax on to consumers through higher prices. Merchants pay excise taxes to wholesalers and consider excise taxes in product pricing which increases the retail price overall.2 There are some excise taxes however that are paid directly by a consumer including property taxes and excise taxes on certain retirement account activities.
https://www.investopedia.com/terms/e/excisetax.asp

Excise taxes and duties as opposed to direct taxation.

 

And yet, the Federal Government is collaborating with the State governments to give us the assistance we need in order to comply with their orders. Why do you have a problem with that?

 

This:

Why do you seek socialist solutions to capitalist problems? Do you have so little faith in the viability of the free market?

 

Progressives/leftists/liberals/Democrats cannot conceive of a "solution" to a "problem" that does not involve an increase in the power of the state.

 

what you posted was made up

I sent you the law that shows that there is nothing in there that changes requirements for borrowers. You cant refute that. read the law, and you will then know that these tories are made up

 

False and I cited otherwise which remains unrefuted.

"I’ve already told the story of Obama’s close ties to ACORN leader Madeline Talbott, who personally led Chicago ACORN’s campaign to intimidate banks into making high-risk loans to low-credit customers. Using provisions of a 1977 law called the Community Reinvestment Act (CRA), Chicago ACORN was able to delay and halt the efforts of banks to merge or expand until they had agreed to lower their credit standards — and to fill ACORN’s coffers to finance “counseling” operations like the one touted in that Sun-Times article. This much we’ve known. Yet these local, CRA-based pressure-campaigns fit into a broader, more disturbing, and still under-appreciated national picture. Far more than we’ve recognized, ACORN’s local, CRA-enabled pressure tactics served to entangle the financial system as a whole in the subprime mess. ACORN was no side-show. On the contrary, using CRA and ties to sympathetic congressional Democrats, ACORN succeeded in drawing Fannie Mae and Freddie Mac into the very policies that led to the current disaster.

In one of the first book-length scholarly studies of ACORN, Organizing Urban America, Rutgers University political scientist Heidi Swarts describes this group, so dear to Barack Obama, as “oppositional outlaws.” Swarts, a strong supporter of ACORN, has no qualms about stating that its members think of themselves as “militants unafraid to confront the powers that be.” “This identity as a uniquely militant organization,” says Swarts, “is reinforced by contentious action.” ACORN protesters will break into private offices, show up at a banker’s home to intimidate his family, or pour protesters into bank lobbies to scare away customers, all in an effort to force a lowering of credit standards for poor and minority customers. According to Swarts, long-term ACORN organizers “tend to see the organization as a solitary vanguard of principled leftists…the only truly radical community organization.”
https://www.nationalreview.com/2008/10/planting-seeds-disaster-stanley-kurtz/

 

oh FFS

So you claim that all taxes are passed on the to the consumer, yet when it serves your agenda, now those taxes arent passed on to consumers ?

what does "duties" vs direct taxation have to do with anything ? BOTH ARE TAXES !!!!!

Stop playing word games. Your wrong, just admit it

 

You posted a story with a FALSE claim in it that you can easily see if you read the law. You wont, because it proves you wrong

have a nice day

 

As I expected, you can't refute the facts and now try to run away.
Cite the part of the law that you claim refutes the FACTS that I have posted.

 

I love how the right in this country is contorting themselves to alarming degrees to deny that "this" is socialism and to justify what the federal government is doing now because its under republican control. At the end of the day, the government had to do something, we all agree on that. But lets just be honest and understand that what they are doing IS socialism. Undeniably, plain and simple

 

Article I, Section 8 of the Constitution gives Congress the power to "lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States.

Where does it say "to control the people"?

 

Cite the part of the law that lowers credit requirements for borrowers ?

I did refute what you said, because In a law that makes no concessions for credit requirements of the borrowers i cant really show you where it doesnt say that? FFS

I posted the LAW. Not some made up story. Should be easy for you to show me in the law where is changes the borrower requirements to, in your words" force banks" to make bad loans.

 

Were done here. You keep dancing around what was said in both conversations because you cant refute it, so you do dance around BS

I said that taxes are by design, to control behaviors. Excise taxes are exactly that. Buy a dictionary (re: Excise Tax), research the constitutional convention on excise taxes, and then we can discuss

 

In what sense is a government mandate to cease economic activity a failure of the Free Market?

 

Piss-poor planning on their part. They should have at least three months cash reserves at all times, like all responsible Americans. Their incompetent financial management is their problem, not the American taxpayer's.

 

Your claim was:

i) A government mandated ceasing of economic activity is a failure of the free market.

That is a completely incoherent proposition. Adding:

ii) They should have at least 3 months cash reserve.

Does absolutely nothing to bring soundness to i) which remains completely absurd.

 

Bro are you just being dishonest or do you not know what that means?

Let’s assume that there aren’t enough qualified loans within those communities for those banks to meet the minimum threshold. What are the banks supposed to do?

 

No, it is social spending and it is out of control. Socialism requires government to own and operate business enterprises. We don't have much of that here. We do have a ton of social spending, however, and the federal government should be barred from social spending entirely.

 

Just like the clinical definition of AA says you only take a minority candidate if they’re equally qualified but we know in practice(from personal experience) that rarely happens.

 

'The Capitalist System Is Facing Its Worst Crisis Ever'
...and its not even close to the failures of communism and socialist regimes throughout history.