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Entries in Larry Summers (4)


Tell Geithner: Small biz and Main St. already bled enough

Tim Geithner was on the scene ahead of the financial meltdown and during the bailout. Now he wants to tax small businesses more.You have to hand it to the Obama administration’s Treasury secretary Tim Geithner. He has got some nerve. Geithner told the House of Representatives Small Business Committee that small businesses need to pay more taxes.

Don’t yawn just yet. Geithner’s proposal to raise taxes on anybody should place him in the World  Record Book for Scoundrels.

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Pence, Boehner’s call for resignations echoes experts’ criticism

(Washington, DC)--Rep. Mike Pence (R-Ind.), Chair of the House Republican Conference, joined Republican Leader Rep. John Boehner (R-Ohio) on Tuesday in calling for the resignations of Treasury Secretary Timothy Geithner and the Director of the White House National Economic Council Larry Summers.

Both Republicans echo earlier calls from experts.

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Are Democrats on board with UN taxing US citizens?

Red alert on taxes. International looters convened this week in Bonn, Germany. A wire service said carbon taxes and other revenue raising methods have been considered by “a panel of the world's leading economists to raise a staggering $100 billion a year to fight climate change.” UN Secretary General Ban Ki-moon appointed the panel.

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BofA shortfall: did matrícula consular card figure in financial industry woes?

Is the American taxpayer a victim of financial terrorism, or just plain fraud?

Matricular Consular card [graphic from Colorado Alliance for Immigration Reform; graphic has been edited to scrub personal information.]Bank of America tops the headlines again with The Wall Street Journal reporting the bank faces a $34 billion shortfall in capital. BofA has received billions in bailout money, courtesy of the US taxpayer. What no one’s talking about are headlines from years past.

In 2005 Business Week reported the bank joined 404 other institutions accepting the matrícula consular card issued by the Mexican government. National Review online ran an article by James A. Cooley in 2004—he pointed to concerns the FBI expressed about potential for fraud by these cardholders. Once the cards became popular with Mexican residents living and working in the US without documentation, other countries followed suit. The report Cooley cites said El Salvador, Guatemala, Honduras, Nicaragua, Peru and Poland saw potential in a similar card system. “Argentina has decided to issue a consular identification card to approximately 180,000 Argentineans residing in California,” the FBI said, emphasizing, “the FBI's concerns to the committee regarding additional nations issuing these i.d. cards by noting that the tri-border region of South America (where Argentina, Paraguay, and Brazil intersect) was now recognized as a ‘hotbed of Islamic fundamentalism.’”

In 2003 Steve McCraw, Assistant Director of The FBI Office of Intelligence, told the House Judiciary Subcommittee on Immigration and Border Security, “They [Homeland Security Council] are also specifically examining counterfeit and fraud concerns with the Mexican consular identification card that would impact its acceptance for identification purposes."

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