It’s GOP platform time

It’s GOP platform time

By BERNIE BECKER
07/18/16 10:00 AM EDT

IT’S ON: The Republicans, finally at their convention in Cleveland to nominate real estate magnate Donald Trump, are expected to ratify their platform today.

It shouldn’t surprise many people if the GOP calls for tax reform, in a way that simplifies the code, removes tax breaks and lowers rates. (In fact, taxes are one of the areas where Trump hasn’t strayed as far from traditional Republican thinking.) Reports out of Cleveland last week suggested that Republicans will also call for a tax code so simple that the IRS can be abolished, a la Sen. Ted Cruz’s plan during the primaries.

But this one is sort of new: Time and other news outlets are reporting that Trump told Jerry Falwell Jr. that the platform will seek to allow churches and other tax-exempt groups to organize politically. To do so, Republicans would have to overturn the so-called “Johnson Amendment,” put into place in 1954 to prevent churches from endorsing candidates.

Churches are frequently organized under the 501(c)(3) of the tax code — which allows donations to be tax-exempt and for religious institutions to avoid taxes on their income, but also includes a ban on direct and indirect interventions into elections. But some religious advocates say the current set-up also censors religious leaders, while others believe allowing churches to dabble in politics could corrupt their missions.

“After 30 years of the so-called conservative leaders who have been elected by evangelicals, none of them thought to advocate for the repeal of the Johnson amendment, giving evangelical leaders political free speech,” said Falwell, the president of Liberty University and son of the school’s founder. “He thinks it is going to be a revolution in the Christian world." http://ti.me/29AdSec

WELL, THIS WEEK SHOULD BE FUN. Today’s first day of the GOP convention is also the 48th birthday for Intel — proud members of the RATE Coalition and American Innovation Matters, which has been pushing for international tax reform.
Let us know what’s happening.

Email: bbecker@politico.com, teckert@politico.com, bfaler@politico.com, kodonnell@politico.com.

http://www.politico.com/tipsheets/mo...#ixzz4EmGiByoH

GOP platform to call for return to Glass-Steagall

http://thehill.com/sites/default/fil...?itok=bjOLVNs0

Greg Nash

By Peter Schroeder - 07/18/16 11:39 AM EDT

CLEVELAND — Both major political parties are now calling for a major overhaul of the financial industry by calling for a return of Glass-Steagall, a Depression-era banking law.

Paul Manafort, Donald Trump's campaign manager, told reporters gathered in Cleveland Monday that the GOP platform would include language advocating for a return of that law, which was repealed under President Bill Clinton.

“We also call for a reintroduction of Glass-Steagall, which created barriers between what big banks can do,” he said.Including that language in the GOP platform comes shortly after Democrats agreed to similar language in their own, calling for an “updated and modernized version” of the law.

A party platform is not binding, but is thought to reflect the values of the party.

And the GOP platform has not yet been officially released, although the convention is expected to approve it later Monday.

Nonetheless, the embrace of Glass-Steagall by both parties is a telling indication of how unpopular Wall Street remains with the public, years after the financial crisis.

Manafort mentioned the return of Glass-Steagall specifically as a cudgel against Hillary Clinton, arguing it was Democrats that were the ones actually beholden to big banks.

“We believe the Obama-Clinton years have passed legislation that has been favorable to the big banks, which is why you see all the Wall Street money going to her,” he said. “We are supporting the small banks and Main Street.”

News that Republicans were embracing Glass-Steagall was met with surprised optimism from advocates for tougher rules on the financial industry, and resigned sighs from the industry itself.

One bank lobbyist said backing the bill in the GOP platform was a naked attempt by Trump to win over disappointed backers of Bernie Sanders, a vocal proponent of the law’s return. Trump has explicitly called on Sanders supporters to join his campaign, although Sanders himself has backed Clinton.

The lobbyist also questioned how thoroughly the campaign examined the policy.

“I really am not sure if the Trump team has done any analysis of this,” the lobbyist said.

Dennis Kelleher, president and CEO of the financial reform advocacy group Better Markets, offered cautious optimism for the move. However, he noted that Republicans have a much longer record of pushing to ease rules for the financial sector, rather than tighten them.

“It’s potentially great news for financial reform and protecting taxpayers, as long as it’s not another Republican Trojan Horse that looks good, but concealed underneath are killer loopholes and big bank give-a-ways,” he said.

Manafort did add that the platform also calls for a revisiting some of the “mistakes” in the Dodd-Frank financial reform law, but did not get into specifics.

Trump has previously called for the effective dismantling of that law, but has yet to release his own financial regulation plan.

Clinton’s original plan for Wall Street did not include reestablishing that law, but instead a more targeted approach that would heighten rules on more lightly regulated parts of the industry.

By comparison, Glass-Steagall is a sledgehammer approach. The law created a firewall between traditional banking and riskier investment banking practices. But over the years, Congress gradually weakened the law, until it was repealed outright in the late 1990’s.

But the 2008 financial crisis led to increased support for the law’s return, particularly on the left. A return of the law would lead to a dramatic shake-up for some of the biggest names in finance, as they would be forced to split up or sell off huge chunks of business.

While not part of her financial regulation plan, Clinton’s campaign did support the Glass-Steagall language in the Democratic platform, as part of a number of compromises made with the Sanders campaign.

The bipartisan embrace of the law’s return is particularly striking, given that legislative efforts to do just that have gained zero momentum in Congress. Legislation to reestablish Glass-Steagall have been introduced in both chambers in recent years, but such a bill has never even gotten a hearing, let alone serious consideration by legislators.

In the Senate, a bill from Sen. Elizabeth Warren (D-Mass.) has just nine cosponsors, while a companion bill in the House has just eight backers.

http://thehill.com/policy/finance/28...glass-steagall

GOP Platform Contemplates Anti-Porn Provision, Embrace of ‘Conversion Therapy’

@ Draft GOP platform calls for 'America first' trade policy, drops call for marriage amendment

I totally support a return to the Glass-Steagall law. Thank you Donald Trump for pushing this in the GOP Platform.

Donald Trump pledges to reverse ban on churches endorsing candidates
Jewish Telegraphic Agency‎

I totally oppose a reversal of the ban on churches endorsing candidates. As long as they're operating on tax exempt money, they can not lobby legislation, impact public policy or influence our elections.

Pass the FairTax and they can sing and dance for whatever political issue or candidate they want.

gop platform on Twitter

https://twitter.com/search/gop+platform


Gavin Newsom (@GavinNewsom)

2 hours ago - View on Twitter
It's official: most anti-gay platform in 162 years has been adopted by RNC/GOP.



Jordan Weissmann (@JHWeissmann)

2 hours ago - View on Twitter
Contra Manafort, the current GOP platform draft does not include anything about resurrecting Glass Steagall pic.twitter.com/hylauxvRW…

I agree Judy. Churches need to loose their tax-exempt status and pay their fair share. They have become an enormous money making business and pushing their agenda on our Country...and US Taxpayers are paying for it!

WE are paying ONE BILLION a year out of OUR pockets to Churches to resettle refugees and asylum seekers! Wrong, use your Church money you pay ZERO tax on and go help them in their country. These people should not abandon their lands...they should fight back for their human rights and freedom on THEIR soil...not ours.

Terminate the outdated, FAILED, refugee and asylum policies and end wet foot / dry foot.

No papers, no entry, no rights.

RESOLUTIONS ADOPTED BY THE REPUBLICAN NATIONAL COMMITTEE

(CLICK TO READ)

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RESOLUTIONS ADOPTED DURING THE 2016 SPRING MEETING:

• Resolution Concerning Timing of U.S. Supreme Court Justice Selection
• Resolution Calling for Support of Sanctions Against Iran’s Ballistic Missile Testing Program
• Resolution Reaffirming Strong Support for the Republic of China (Taiwan)
• Resolution Calling for Inquiries into the 2012 Benghazi Attacks to be Sustained and for the Responsible Parties to be Held Accountable
• Resolution Supporting Republican Leaders’ Fight Against the President’s Unlawful Executive Actions on Immigration
• Resolution Condemning Hillary Clinton for the Usage of a Secret Email Server as Secretary of State and Calling for Her to be Held Accountable
• Resolution in Support of Criminal Justice Reform
• Resolution in Support of the Regulation Freedom Amendment
• Resolution Honoring Supreme Court Justice Antonin Scalia
• Resolution Honoring the Life of Former First Lady Nancy Reagan

RESOLUTIONS ADOPTED DURING THE 2016 WINTER MEETING:

• Resolution Opposing A Carbon Tax
• Resolution Condemning The Failed ISIS Foreign Policy Of President Barack Obama And Former Secretary Of State Hillary Clinton
• A Resolution – Save Christians From Persecution And Genocide
• Resolution Condemning Governmental Overreach Regarding Title IX Policies In Public Schools
• Resolution In Support Of Allowing Military Personnel To Be Armed On All Military Bases And Recruitment Centers

https://www.gop.com/rules-and-resolutions/

Why is Cha Chee (Scott Baio) speaking at the convention?

The repeal of the Glass-Steagall Act by Clinton in 99 lead to the disatrous performance (complete meltdown) by Wall Street in the mid 2000's and not a single executive went to jail. In laymans terms, this repeal was the equivalent of allowing drug dealers to attend NA meetings.....putting the fox in charge of the hen house.

Why Is Bernie Sanders' Favorite Legislation in GOP Platform?

http://www.newsmax.com/CMSPages/GetF...axsidesize=600
Sen. Bernie Sanders (AP)

By John Gizzi | Tuesday, 12 Jul 2016 04:54 PM


Perhaps the most unexpected — and, inarguably, the strangest — development in the crafting of the Republican Party platform this week has been the call for reinstatement of the Glass-Steagall Banking Act of 1933.

Meeting at the Huntington Convention Center in Cleveland, Ohio on Monday, the Government Reform Subcommittee of the GOP Platform Committee voted to include in the party platform restoration of Glass-Steagall — landmark legislation that separated risky trading and investment from traditional banking activities such as business lending and consumer finance after it was passed in 1933.

A product of Franklin D. Roosevelt's "New Deal" agenda, Glass-Steagall was scrapped in 1999 after the Republican-controlled Congress voted for its repeal and Democratic President Bill Clinton signed it.

Two top operatives from Donald Trump's campaign were on the scene at the subcommittee meeting as all but one of its members voted "aye" on including revival of Glass-Steagall in the party platform.

But Glass-Steagall has returned in the 2016 campaign thanks to a politician who would be most unwelcome at the Republican proceedings in Cleveland: Bernie Sanders, who called for putting the regulatory measure back on the books and included its revival in nearly all of his primary night speeches.

"The business model of Wall Street is a fraud," Sanders declared in a November 2015 televised debate in which he charged that the Glass-Steagall's removal from the books was a major cause of the 2008 financial crisis.

Hillary Clinton argued against revival of the legislation and earlier told the "Des Moines Register" that "a lot of what caused the risk that led to the collapse came from institutions that were not big banks."

As to how and why Sanders' much-favored Glass-Steagall found its way into the Republican Platform, I spoke to the driving force behind it within the GOP. John Lynch, Platform Committee member from Illinois and past president of the First Midwest Bank in Chicago, recalled that "Glass-Steagall was always the wall that kept consumer banking away from big risks.

Bill Clinton broke down that wall when he signed its repeal in 1999."

The repeal, Lynch believes, "exposed consumer banking to higher risks as some people sought to make as much money as they could."

Lynch, who was in the banking industry for nearly 50 years, is a lifelong Republican and strong Donald Trump supporter.

http://www.newsmax.com/Politics/glas...#ixzz4EnrsHnUf

Repeal of Glass-Steagall Caused the Financial Crisis | US News ...


U.S. News & World Report

Aug 27, 2012 - In 1999, Democrats led by President Bill Clinton and Republicans led by ... It was Glass-Steagall that prevented the banks from using insured ...

Nice post JD2! That is what happens when politicians get bought by industries. Then when the damage is done, they get bought one more time to keep them all out of prison. Can you imagine a principle reason why the government didn't prosecute these greedy, incompetent executives was that the government feared the industry would collapse entirely if they started removing these executives from their companies and sending them to prison.

Quote:

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But Glass-Steagall has returned in the 2016 campaign thanks to a politician who would be most unwelcome at the Republican proceedings in Cleveland: Bernie Sanders, who called for putting the regulatory measure back on the books and included its revival in nearly all of his primary night speeches.

"The business model of Wall Street is a fraud," Sanders declared in a November 2015 televised debate in which he charged that the Glass-Steagall's removal from the books was a major cause of the 2008 financial crisis.

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Hillary Clinton has no idea what she is talking about with respect to the origins of risk that lead to the collapse.

On Bernie Sanders, with all that he stood for and argued against I would rather run on a seperate ticket as an independent or walk away in tact then swallow all of that venemous and toxic Clinton punch. He has not only betrayed his supporters, he betrayed himself which is much worse because he has to live with himself and look in the mirror everyday. You can't do what he did and then tow the party line. That is why Trump has had a difficult time with his party.

OFF TOPIC: And every republican candidate that signed that pledge and has not rallied behind the nominee is a complete sham.Instead of having credability and respect, all they have are excuses.