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Senate to end debate, vote on small-business aid bill
(CNN) – The Senate is scheduled to vote Thursday on ending a debate on a bill that it says will aid small businesses and result in the creation of 500,000 jobs.
Lawmakers will then vote on its final approval, said Senate Majority Leader Harry Reid, D-Nevada.
According to a summary of the Senate bill, the measure would also authorize the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets.
The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses.
On Wednesday, President Obama slammed GOP congressional leaders for trying to block the bill. Full Story
Craigslist says no plans to resume sex ads in the United States
(CNN) – Craigslist has "no plans" to resume running adult services ads that contribute to child sex trafficking in the United States, an official with the online advertising site told a House panel Wednesday.
However, the erotic services ads remain available to Americans on the company's foreign sites, including its Canadian site, acknowledged William "Clint" Powell, the director of customer service and law enforcement relations at Craigslist.
Powell's remarks to a House Judiciary subcommittee responded to testimony that the internet has greatly expanded child prostitution and child sex trafficking. In particular, witnesses cited online advertising sites such as Craigslist and backpage.com as facilitating the ability of people to hire child prostitutes.
In late August, attorneys general in 17 U.S. states banded together to urge Craigslist to discontinue its adult services. Full Story
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Re: Avastin
My son has neurofibromatosis type 2, which causes life-threatening beneign tumors on the central nervous system. He was treated for over a decade without much effect, until a doctor at Harvard tried Avastin for him. It turned my son's life around, and shrank his tumors. It has been written up in the NEJM. How effective Avastin is for breast cancer is beyond my ken, but I find it hard to believe that it hasn't saved lives, and if there is any parallel to my son, t is worth fighting for. Isn't the FDA supposed to help save lives?
Tuesday morning you were reporting that Salvatore Guinta was the first living recipient of the medal of honor. He is actually the first living recipient during the war on fundamendalist Islam. People have received the award while still living, such as Sgt Alvin York in WWI, Audie Murphey in WWII, 21 veterans from Korea and 60 from Viet Nam. Vernon Baker, who passed away in July 2010, was also awarded the MoH in WWII and had a very interesting story behind his medal.
Dan September 16th, 2010 9:52 am ET
I am not registered with either party, I vote for the candidate, not the party.
But, one thing we haven't heard from anyone above is, yes, Bush was in office; however, Democrats have controlled both houses since Jan 2007, , almost 4 years, and ALL 3 (1 executive and 2 legislative) branches since Jan 2009, almost 2 years. Things have gotten much worse in the last 3-4 years.
So why is there so much continual blame on the former administration, when in fact the Democrats have had control?
Good question. And no Democrat will answer .. or be able to.
They are much more interested in deflecting fault from themselves.
I am not registered with either party, I vote for the candidate, not the party.
But, one thing we haven't heard from anyone above is, yes, Bush was in office; however, Democrats have controlled both houses since Jan 2007, , almost 4 years, and ALL 3 (1 executive and 2 legislative) branches since Jan 2009, almost 2 years. Things have gotten much worse in the last 3-4 years.
So why is there so much continual blame on the former administration, when in fact the Democrats have had control?
I have to agree with the flat tax rate. That would eliminate so many problems, but it will never happen. Too much lobbying and special interest. It's amazes me that these politicians can raise millions for campaigning, while lobbyist spend millions upon millions to influence our representatives. They can tax the heck out of those dollars, as far as I'm concerned....50% should do it.
The "Robing Hood" theory is nothing more than stealing.
Take from those that have to give to those that don't? People need to quit holding their hand out for freebies and do for themselves.
pauly
Good writing this morning. The reason why there are those complaining about Obama and the Dems approach is this...
They have invested heavily in the illusions created by corporations and special interests.
AA says: September 16th, 2010 8:55 am ET
"I'll repeat... NOBODY .. or NO BUSINESS should get tax breaks. Should have a set percentage for individuals and a set percentage for all business."
Uninformed opinion.
I find it shocking and unbelievable ... that there actually are Americans that think other Americans should live off the backs of other Americans because they don't work, aren't as rich or aren't as privileged as some.
A person shouldn't be penalized because they are richer or that they work harder than others no matter who they are.
Banks seized a record number of homes in the US last month. Who needs tax relief more, the people losing their homes or the bankers taking the homes away?
I'll repeat... NOBODY .. or NO BUSINESS should get tax breaks. Should have a set percentage for individuals and a set percentage for all business.
During this recession, the ceo's of the 50 co's that laid off the most Americans received a raise of an average compensation of $12 million! Many of these co's received a bailout from the govt. Now you want to reward these same people w/ further tax relief?
@Average American, Obama is trying to 'band-aide' those who lost jobs in hopes they can survive until the economy turns around and jobs become available. We need to be a whole lot more 'progressive' in terms of adequate paying longer term job creation. Simple as that.
"THE Great Depression and its aftermath demonstrate that there is only one way back to full recovery: through more widely shared prosperity. In the 1930s, the American economy was completely restructured. New Deal measures — Social Security, a 40-hour work week with time-and-a-half overtime, unemployment insurance, the right to form unions and bargain collectively, the minimum wage — leveled the playing field.
In the decades after World War II, legislation like the G.I. Bill, a vast expansion of public higher education and civil rights and voting rights laws further reduced economic inequality. Much of this was paid for with a 70 percent to 90 percent marginal income tax on the highest incomes. And as America’s middle class shared more of the economy’s gains, it was able to buy more of the goods and services the economy could provide. The result: rapid growth and more jobs. "
-Robert Reich " How To End the Great Recession" Sept.2, 2010/NYT
Worthwhile read. The disparity of wealth in this country ensures the economy cannot fulfill its potential.
"Even if nearly everyone was employed, the vast middle class still wouldn’t have enough money to buy what the economy is capable of producing." Reich
I'm okay with implementing the 70-90% marginal tax once more on the wealthiest Americans. It never should have been removed.
I don't see why there are those complaining about President Obama & the Dems wanting to do something for average Americans rather than special interests & themselves. The President & many of these Dems will pay the higher tax rate. That's right, for once they are taxing themselves rather than passing it onto the average American.
Now if you really believe that it's unfair to give tax cuts to 98% of Americans rather than 100%, please write your Congresspeople & Senators & tell them to vote against extending any of the tax cuts. As I said before, the Dem plan will add $3.2 trillion to the deficit while the GOP's plan will add $4 trillion. We can't afford them! Not if you are really concerned about the deficit!
Pauly,
I You are correct. FICA paid for today's Social Security recipients. And I do agree that those on any kind of social welfare system (minus Social Security) because they are to lazy to work (There is no denying there are many of those) MUST have proof that they are looking for work, or I would even accept "volunteering" in their community, to help better their community.
What I am against is lazy people who "expect" others to take care of them.
@Dan:
You are funny? An 8% tax rate? Even on those receiving govt assistance? Those on welfare can ill afford to pay any taxes & those on SS have already paid FICA taxes their whole lives. I do agree that there are those who abuse the system. The only way to correct this is demand the workers at these & other agencies do their jobs! In this computer age, checking on recipients is only a click away.
Why not mention corporate welafre? It dwarfs all the social welfare costs in this country. And there are millionaires & billionaires using the system. Farm subsidies are being collected by the likes of Donald Trump & a Hong Kong billionaire. Not that they are actually doing any farming. They just own "farms."
Why are the big oil co's receiving $35 billion in tax breaks? They are drilling resources that belong to Americans then selling our resources back to us for ridiculous profit! They aren't the only corporations that are fleecing the taxpayers. Then they turn around & spend that money on lobbyists & campaigns to assure themselves of more favorable laws.
Doesn't anybody think it's awfully strange that Obama wants to increase taxes on some so that he can afford to pay for give away programs to those that don't pay any taxes? Obama's thinking is straight out of bizarro world.
Political mystery money? There is not much mystery once the 'epi-center' is discovered. Hint: Start with 'billionaires' David and Charles Koch, explore from there. These paranoid-delusional-power-hungry-conservative-controll-freaks have been screwing with American politics since the 1950's for personal financial gain through influencing Congress, the Executive Branch and the US Courts.
@ks... do you complain about CNN's constant left leaning attempts at propoganda or are you only concerned when it goes the other way?
Question. If, as the GOP states, allowing the tax cuts for the wealthiest 2% of Americans to expire will result in rising unemployment as they are the job 'creators', then why has the unemployment rate been steadily rising since they were put in place? Shouldn't they have been 'creating' jobs with the windfall they received from the Bush Admin.?
Rep.Gary Peters(D) Maryland said the tax cuts for the wealthy should be continued. What results did they produce during Bush's two terms? Zero net jobs created. After the first tax cuts in 2001, 15 months of job losses occurred. During the second term, 8 million jobs were lost. People making over $250,000 a yr. are not waiting for a tax cut to buy a flat screen TV. The republicans do not have a record of fiscal responsibility. During the terms of Reagan, GHW Bush and GW Bush the deficits increased, 189%, 55% and 59%. Those are facts that can't be changed or spun into fantasy. The media people doing the interviews need to be better informed than the people they are interviewing.
Nobody should get anything back from paying taxes. PERIOD.
The male co-host this morning should keep his biased personal opinions to himself! He just made a comment regarding the racist and provocative comments made by Newt Gingrich about President Obama's father's African influence. The co-host dismissed liberal's accusations, as if there was no justifiable basis. Almost as if it was just "liberal whining." If he don't see anything wrong with what Gingrich said about the President, then he shouldn't be hosting anybody's morning show. Why not just put on his Tea Party or Republican T-shirt at the desk since he clearly supports their positions? I don't care what you think sir, just report the news!!!
Even though the top tax rate will increase to 39% if the tax cuts expire, few, if any, of this country's wealthiest people will pay that amount. Warren Buffet only paid a 17.5% rate in '08. Even he admitted that his personal secretary paid a higher rate than he did.
Here's another job killer for y'all to take a look at. It's called Six Sigma. Take a look at the 'lean manufacturing' part of this business strategy. By the way, when I was 'corporate', 10 years ago, I personally helped to export a couple of hundred jobs out of our area. Made me sick, so sick in fact, that I left the corporation.
Why should only some Americans incur tax increases while other Americans get tax cuts? I have yet to hear a reasonable explanation as to why some Americans are so hell bent on developing and/or furthering a "cast" system in the US. All Americans should be treated exactly alike.
Could it be that the apparent satisfaction with no-frill airlines comes from reduced expectations and that dissatisfaction with others comes from impossibly high expectations hyped through constant advertising not being met?
Could 80 percent of America's problems be due to the same phenomenon of overhyped and unrealistic expectations?
The top tax rate will go back to 39% if the tax cuts expire. That's still much lower than tax rates during previous times in this country's history. If Bush's tax cuts were such a great idea, why did the GOP place an end date on them rather than make them permanent?
Put the blame for the loss of American jobs exactly where it belongs.... @ the doorstep of NAFTA. Until NAFTA is repealed America will continue to leak jobs at an alarming rate. The US needs politicians to MAN UP and start looking out for the best interest of the country and not just their personal bank accounts.
I completely agree with Average American above. InMV, do you agree?
I say let's do an across the board 8% tax rate. You pay 8% of your income to the Federal Government, whether you are on Welfare, Social Security, WORKING, etc.
I am tired of working, paying taxes, then having people on welfare who have NO desire to better themselves. Yes, there are people who legitimately need assistance, but I personally know people who have taken advantage of the system for "years".
So basically, as a tax paying citizen, I am supporting them.
Additionally, you should NEVER get back more on a tax return than you pay in, totally wrong.
Karl Rove is at best a moron. Always has been.
Who are the 31 house democrats opposing tax hikes for the wealthy? Who signed the letter to Pelosi? Are they the so called 'blue dog-conservative' Democrats? Who is lobbying them? Who is donating to their campaigns? Are they NOT concerned about the deficit?
If the reason for giving $250,000 & above incomes tax breaks because they're the ones creating the jobs, then where are the jobs they created while enjoying that tax break for the past 10 years? The jobs that have disappeared in the U.S. are now in India and China. Is THAT the reason they deserve a tax break???
Rob –
I’m going to the Stros game this weekend against the Reds. I was happy for Berkman after he was traded to New York. After last night’s game, I think that the Yankees are the departed team from the playoffs.
Re PG&E, Utilities were upped to replace questionable pipe and then that money wents towards 'incentives'? Now they want more money to fix pipe? Doesn't anybody 'see' what the problem is here?
Sadly, have to conclude after all this neo-controversy about priests or not priests, to burn or not burn korans, to build or not to build mosques, embryos etc etc that creation, God , belief have nothing whatsoever to do with religion, church, or temples and their priests, pastors, mullahs, rabbis or ju-ju men.
Actually.. the tax system as we know it needs to be scrapped and a percentage based flat tax system put in place where every American pays the same percentage no matter how much they make. No tax exemptions. No tax credits. No refunds. No tax loop holes. The same with all businesses. A flat tax system would produce more income for the country.
I personally know people that pay 500 dollars in taxes a year and get back 6k or 7k each year while people that pay 1000's in taxes each year get nothing back. That's just WRONG.
The article about "Dude" saving the Quran from burning.
This has gone way to far. I am a Christian.
I am glad the pastor came to his senses last week and cancelled his so called Quran burning. Even with the threat of, I would have to question the Muslim religion.
Yes, I read the bible, BUT, I worship God and Jesus Christ. If someone was to burn the bible, which people have, we could print more.
But, to go to such extreme violence because one "threatens" to burn a book with print on it? Who are they "truly" worshiping, God or paper?
Oh, by the way. The bible is the #1 selling book of all time.
Regarding Carol Costello's story about the so-called women priests.
Those women are NOT Catholic priests and it is an offense to me that the news media continue to use these aberrations and charades as news events.
If I have an idea. I will print a business card which states I am a CNN reporter and will get all my friends to agree that I am a CNN reporter. I want CNN to come and give me news coverage, interviewing me and ending the piece with "Is he really a CNN reporter?"
Or how about this? I will put on an NBA jersey and declare that I am an NBA player. I will go onto a local basketball court with some friends who will pass the ball to me, hoist me on their shoulders so I can dunk, and then cheer me. And CNN will come to the b-ball court and take video and do a story about me, ending with "Is he really an NBA player?"
Calling yourself a Catholic priest does not mean you are a Catholic priest anymore than calling myself a CNN reporter or NBA player makes me either of those.
All Americans would get tax relief for the 1st $250,000.00 under the proposed bill. Yes, even the mega wealthy. The tax rate after that would return to the levels that were in place before Bush & the GOP cut taxes.
Please remember, the GOP placed the expiration date on these tax cuts! Now they want to renew them at a cost of $700 billion over 10 years. They claim adding this amount to the deficit & national debt doesn't count.
If Americans are really concerned about the deficit, they should call and/or write their lawmakers. The proposed bill will add $3.2 trillion to the deficit. The GOP proposal would add $4 trillion. The expiring cuts have already added trillions to our debt, not counting interest!
All Americans should be treated equally and fairly. Either all get tax cuts... or none get tax cuts. One sector shouldn't be punished – for any reason.
Half-million jobs are going to magically appear out of nowhere?... lol.. Probably be jobs like the "bail-out" produced... few and far between. The "bail-out" was an expensive, useless idea and now Obama wants to throw good money after bad.
The unfortunate thing is, it took two Repubs willing to break the prevention ranks, to help move this Country forward. I guess, when one no longer seeks election, they feel a bit more free to do what is right, including helping the opposition get something done.