Car Loans, Main Street, Sweet Pork

Where are we headed?  Here’s a clue for ya from MotorTrend:

Are you the type who regularly checks your credit score and stays on top of every little change at the major credit bureaus? If you’re like many Americans, the answer to this is probably no, but you might want to start being a little more diligent. Recently, Chrysler, Ford, and GM all made new-car leases harder to get, and it looks like loans are next. Reeling from the current credit crisis, financier GMAC now says it will lend money only to customers boasting a credit score of 700 or above.

Corporate greed, unsound business practices and government meddling are becoming painfully obvious at the ‘main street’ level. 

Auto lenders are tightening their standards to put themselves at less risk that’s good, but shouldn’t that have been the practice in the mortgage business before we got into this mess?  

How’s that a main street concern?

So what does this mean for people in the market for a new ride? Considering that, according to credit bureau Experian’s 2005 National Score Index, the average American boasts a rating of 678, those planning to buy a GM car or truck will need to double-check their credit to see if they qualify. Estimates are that GMAC’s move could kill one in four car loans, and Experian says that in 2008 customers with credit scores of 700 or better accounted for 74.3% of all auto financing purchases. This is up slightly from a year ago, when this same group made up just 71.1% of all new-car business.

Less new car loans available?  The need for fewer new cars.  The need for fewer cars?  Fewer workers needed to build cars.  Fewer workers needed?  Fewer workers mean fewer paychecks and less spending.  Less spending at the grocery store, clothing stores, restaurants, etc., etc.  Fewer workers there or businesses closing down.

Government needs to get out of the bailout business, it can only make things worse and prolong this mess.  What government should do is cut taxes on everyone, stop spending tax dollars on crap and get out of the way.

What crap?  Well, for Fiscal year 2008, my state of Ohio has received $211,698,486.00 in earmarks.  Projects include Fire Fighters’ Hall, Columbus (National Park Service – Save America’s Treasures) and Stan Hywet Hall & Gardens’ programs for at-risk youth, Akron (Discretionary Grants – Juvenile Justice Programs).  Those may important programs, but are they taxpayer programs?  Couldn’t those projects have sought funds elsewhere?  Like, maybe from private donations?  Are those project important enough to add to the collapse of our economy?

Citizens Against Government Waste identifies pork barrel (oh, I’m sorry, it’s  “sweeteners” now) projects from the U.S. Senate within the 2008 Federal Budget here.

Here’s a rundown of those calculations:

Number of projects – 10,286

Total amount of projects – $18,261,200,000.00

That’s just the Senate.

Number of Senators with zero earmarks –

Coburn Oklahoma R
McCain Arizona R
McCaskill Missouri D
DeMint  South Carolina R
Feingold Wisconsin D

As Governor Palin said, when you’re in a hole, quit digging.  I don’t think that the U.S. government could cut spending, let alone quit spending during the bleakest financial times.

Technorati Tags: GMAC,credit,Pork barrel,Pork,Citizens Against Government Waste,Senate,credit score

The definition of insanity

Einstein said the definition of insanity is doing the same thing over and over again and expecting different results.

The American people give Congress a approval rating of 15%, but keep electing the same people over and over again.  We despise Congress, but feel our own representatives are okay.  Please, people, none of them are okay.  They all need to go.  Time for we, the people, to make a clear statement.

Here’s an example:  John (Jack) Murtha (D-PA) has been elected 17 times by the folks in Pennsylvania’s 12th district, which is located in the southwestern part of the state.

U.S. Representative John Murtha is the same guy who said that Marines killed civilians in Haditha, Iraq in cold-blood.  Mr. Murtha publically made this announce before any investigation was completed.  Seven of the eight Marines charged have been exonerated, with the charged being dropped or acquitted of all charges, the last Marine faces charges of negligent homicide.

Murtha has now made the following statement about his constituents….you know, the people who elected him:n

There’s no question Western Pennsylvania is a racist area,” said Mr. Murtha, whose district stretches from Johnstown to Washington County. “The older population is more hesitant.”

Time for Murtha to go.  It’s clear he doesn’t respect the people he works for, so how can he represent them?

Full story here.

Timeline of the Haditha debacle is here.

Technorati Tags: John Murtha,Western Pennsylvlania,U.S. Marines,Haditha,Insanity,Einstein,racists,Obama

AIG: Bailout $ not enough for them to buy a clue

I don’t know how many of you saw the nice comment I got from AIG BlogResponse to my last post about AIG.  I can’t confirm it was from AIG, but an email I sent to the email address, did not bounce back and it sounded like something a PR department would say….

That’s all good, but:

State investigators launched a fraud probe into AIG on Wednesday following revelations that top execs spent $86,000 on a partridge hunt after the feds gave the company billions to stay afloat.

Further:

The Daily News reported today that four top AIG executives and their guests spent a fortune blasting birds out of the sky just last week, while Wall Street was seizing up and the 401(k) accounts of millions of Americans shriveled.

Three New Yorkers were on the trip to Plumber Manor, a 17th century country house in scenic Dorset, southwest of London.

They were identified as Jeffrey Malkovsky, a senior director at AIG’s Manhattan office, Hilary James, the general manager of the luxurious Bristol Plaza Hotel, and her pal, AIG adviser John Roberts.

The News of the World, the London-based newspaper that broke the story, reported that the shooting party was more interested in bagging birds than the unfolding financial crisis.

In just four days, the hunters racked up a $17,500 bill for food and rooms, spent another $17,500 on private jets, $8,000 on limos.

The cost to taxpayers for AIG executives to traipse through the countryside in tweed knickers four times was $43,000.

This is disgusting.  The money that the American taxpayer has given for the AIG bailout should not be available unless there is a full accounting before distribution and a full audit afterward.

As I said here: If you have AIG, call them, drop them, picket them.  Let them know that this is unacceptable.  Let your lawmakers know that this is unacceptable.  Voice your opinion.  It may not change things now, but you will have put these people ON NOTICE that you are watching and will make decisions later (at the ballot box) based on what you see.

Technorati Tags: AIG,bailout,partridge hunt,vacation,retreat,taxpayers,corporate greed

Full story here

Obama, the whiner

“I am convinced that if there were no Fox News, I might be two or three points higher in the polls,” Obama told me. “If I were watching Fox News, I wouldn’t vote for me, right? Because the way I’m portrayed 24/7 is as a freak! I am the latte-sipping, New York Times-reading, Volvo-driving, no-gun-owning, effete, politically correct, arrogant liberal. Who wants somebody like that?”

I watch Fox News – I tune in to other channels from time to time.  Fox really is the most balanced news channel.  If it weren’t, I wouldn’t get so angry at some of their commentary.  Obama surely isn’t watching Fox or he’s just pissed because they aren’t all ga ga over him.

This is the man who wants to deal with the major leaguers like Putin and Ahmadinejad, Kim Jong Il, Chavez and Al-Asad,  the House of Saud, and Quadafi?    That’s a thought that should keep us awake at night.

What a whiner.  Man up, Barack.  You’ll be President of the United States if you win this election – which includes Fox viewers.

See quote here

Full story starts here

Technorati Tags: Obama,Fox News,Putin,Ahmadinejad,Kim Jong Il,Al-Asad,Chavez,House of Saud,Quadafi,whiners

Michelle Obama slams down the race card…

Interesting (and scary) if true.  Read the entire story.

From the African Press International (API) website;

Shocking development:  Mrs Obama decides enough is enough: “My husband was born in Hawaii and adopted by his stepfather, does that make him unpatriot; she asks”, on a direct telephone to API.

Note:  Byron York, from NRO’s The Corner reports:

That Michelle Obama Report   [Byron York]

I’m sure a lot of you have seen references this morning to statements allegedly made by Michelle Obama in an interview with an organization called African Press International.  I just asked the Obama campaign whether Michelle Obama did in fact speak to that organization, and spokesman Tommy Vietor answered:

“The answer is no, it’s not real, the report is made up.  She did not speak to the organization.”

Given the Obama’s history of rewriting their history, take that for what it’s worth. 

Quotes of note:

• Michelle Obama’s assertion that API was helping “spread rumours created by American bloggers and other racist media outlets
• Michelle Obama’s hope that “African Media was mature enough to be in the front to give unwavering support to her husband, a man Africans should identify themselves with.
• Michelle Obama expects: “African press International is supposed to support Africans and African-American view,”
• Michelle Obama believes that “American white racists are bringing up the issue of my husband’s adoption by His step father.”
• On the issue of Jerome Corsi’s detainment in Kenya while investigating Obama’s American citizenship, Michelle Obama told API not to dig that which will support evil people who are out to stop her husband from getting the presidency.
• Michelle Obama said:  “it was unfortunate that Mr Farakhan came out the way he did supporting her husband openly before the elections was over.” That was not wholehearted support but one that was calculated to convince the American people that my husband will support the growth of muslim faith if he became the president, adding “even if my husband was able to prove that he is not a Muslim, he will not be believed by those who have come out strongly to destroy his chances of being the next President. Do real people expect someone to deny a religion when 80 percent of his relatives are Muslims?; Mrs Obama asked.
• Finally, Michelle Obama promised that a positive story “will earn API an invitation to her husband’s inauguration ceremony.

 

Technorati Tags: Obama Truth,African Press International,API,Michelle Obama,American citizenship,religion,Muslim,race card,racists,racism,conservatives,bribery,Jerome Corsi

Truth about taxes…room for the middle class at the poor house

From the New York Post today OBAMA TELLS THE TAX TRUTH (below):

Original source story here.  Emphasis in red is mine.

By the way, as regards the checks from Washington sited below – where I live, that’s called welfare.  I am insulted to think that anyone wants to suggest I can’t make it without government welfare.  I am appalled to realize that Obama will tax me to the point that I would qualify for welfare. 

As has been the case for most tax cuts/deductions/incentives from any candidate that has come along in recent years, I don’t qualify for any of ’em.   I don’t have children, so the dependents, child care, college tax cuts don’t go to me.  I don’t fall into that married category so the marriage tax benefits don’t apply to me.  I don’t have enough money to be able to invest and receive capital gains – so that’s out.  I just keep getting taxed more at the local, state and federal level.   I pay to educate other people’s children.  I pay to fund art museums and symphonies I don’t go to.  I pay for parks I don’t visit.  I pay for other people’s mortgages.  I pay for other people’s defaulted loans and credit cards.  I pay to support causes and countries that I am diametrically opposed to and, in some cases, find offensive.

I can’t invest in my own retirement because I am paying for someone else’s.  I pay for someone else’s food, even if it means I have to cut back on my own groceries.

I pay for AIGs spa retreats, even though I can’t afford to go on vacation.

Obama is going to make sure he taxes me into the welfare state.  This is not the America most of us thought we would be living in.

 

OBAMA TELLS THE TAX TRUTH

October 15, 2008

An unscripted moment with an Ohio plumber produced a startling confession from Barack Obama Sunday: The Democrat’s “middle-class tax cut” is in fact a scheme to “spread the wealth around.”

Obama dropped the mask long enough to tell the truth to Toledo plumber Joe Wurzelbacher – who had asked the Democratic nominee why he wanted to jack up his taxes just for “fulfilling the American dream.”

“I’m getting ready to buy a company that makes $250,000 to $280,000 a year,” Wurzelbacher had told Obama. “Your new tax plan is going to tax me more, isn’t it?”

“It’s not that I want to punish your success,” Obama replied. “I just want to make sure that everybody who is behind you, that they’ve got a chance for success, too . . . When you spread the wealth around, it’s good for everybody.”

At last! The truth outs!

Obama’s plan isn’t about sinking hooks into Wall Street CEOs and other fat cats, as he usually says. Fact is, there’s not enough of them to raise the cash necessary to finance his other grand plans.

No, to do that, he’ll have to go after ambitious working-class guys like Wurzelbacher – who’s been a plumber for 15 years and is looking to better himself and his family while just maybe creating a few jobs.

The American Dream?

Wurzelbacher personifies it – but Barack Obama seems determined to tax it to death and be done with it, period.

That’s been the case all along, of course. What’s different is that the Democrat finally said so.

Heretofore, Obama has sought to paint himself as a tax-cutter – claiming he’ll slash taxes for 95 percent of Americans.

As we noted yesterday, that’s a flat-out lie – not least because nearly half of all tax filers pay no income tax at all. So how can he “cut” their taxes if they don’t pay any to begin with?

Answer: tax “credits.”

To wit, in part:

* A $1,000 “make work pay” credit.

* A $4,000 college-tuition credit.

* A $6,000 child-care credit.

* A $1,100 bump in the earned-income tax credit.

These aren’t to be income-tax deductions – which would be worthless to those who pay no income taxes.

These are to be checks from Washington – with the subsidies expected to grow to more than $1 trillion in 10 years.

That’s a massive transfer of wealth.

How does Obama justify it?

“Fairness,” he says.

But that’s an absurdly radical view of what’s “fair.”

Remember, Obama’s tax hikes target folks who already bear the brunt of the burden: The top 20 percent of earners already pay 69 percent of all federal taxes – and 88 percent of income taxes.

(Contrast that with John McCain’s call yesterday for real tax cuts – halving the capital-gains levy, scrapping taxes on unemployment benefits altogether – designed to prime the economic pump.)

Monday, Obama promised a tax policy that would restore “a sense of fairness and balance that will give every American a fair shot at the American dream.”

But just a day before, he told Joe Wurzelbacher the truth: No American dream for you, buddy!

Nor anybody else, it seems.

Technorati Tags: Income tax,Obama,American Dream,taxes,Democrats,New York Post,Poor House,Middle Class

Yellow Journalism – who can you trust?

The lowest form of popular culture – lack of information, misinformation, disinformation, and a contempt for the truth or the reality of most people’s lives – has overrun real journalism. Today, ordinary Americans are being stuffed with garbage.
Carl Bernstein

From Wikipedia: Yellow journalism is journalism that downplays legitimate news in favor of eye-catching headlines that sell more newspapers. It may feature exaggerations of news events, scandal-mongering, sensationalism, or unprofessional practices by news media organizations or journalists. Campbell (2001) defines Yellow Press newspapers as having daily multi-column front-page headlines covering a variety of topics, such as sports and scandal, using bold layouts (with large illustrations and perhaps color), heavy reliance on unnamed sources, and unabashed self-promotion…The term was extensively used to describe certain major New York City newspapers about 1900 as they battled for circulation. By extension the term is used today as a pejorative to decry any journalism that treats news in an unprofessional or unethical fashion, such as systematic political bias.

Interesting story from October 6, 2008 here.  It says in part:

Yet, take Biden’s statement from the debate on the role of the vice president:

“Vice President Cheney has been the most dangerous vice president we’ve had probably in American history. The idea he doesn’t realize that Article I of the Constitution defines the role of the vice president of the United States, that’s the Executive Branch. He works in the Executive Branch. He should understand that. Everyone should understand that.

“And the primary role of the vice president of the United States of America is to support the president of the United States of America, give that president his or her best judgment when sought, and as vice president, to preside over the Senate, only in a time when in fact there’s a tie vote. The Constitution is explicit.

“The only authority the vice president has from the legislative standpoint is the vote, only when there is a tie vote. He has no authority relative to the Congress. The idea he’s part of the Legislative Branch is a bizarre notion invented by Cheney to aggrandize the power of a unitary executive, and look where it has gotten us. It has been very dangerous.”

One should be careful when throwing around terms such as “most dangerous” and “bizarre.” But Biden is confusing which part of the Constitution covers the Executive Branch (it is Article II, not Article I). More importantly, the notion that the vice president can preside over the Senate only when there is a tie vote is simply wrong. Nor is it true that the only legislative involvement the vice president has is to break tie votes. The vice president is the president of the Senate, where he interprets the rules and can only be overridden by a vote of 60 senators.

Early vice presidents spent a lot of time in the Senate. Thomas Jefferson even spent his time writing “A Manual of Parliamentary Practice: for the Use of the Senate of the United States.” Modern vice presidents may show up only when they think tie votes will occur, but that is their choice.

This isn’t rocket science. The Constitution on this point is very straightforward: “The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided.”

Instead, it was Palin who got it right. Besides correctly stating that the vice president holds positions in both the executive and legislative branches, she also noted that:

“Of course, we know what a vice president does. And that’s not only to preside over the Senate and [I] will take that position very seriously also. I’m thankful the Constitution would allow a bit more authority given to the vice president if that vice president so chooses to exert it in working with the Senate and making sure that we are supportive of the president’s policies and making sure too that our president understands what our strengths are.”

But just as the vice president’s job includes more than simply being ready to assume the presidency if the president dies, the Constitution merely states what the vice president’s minimum responsibilities are.

Sarah Palin has been kicked around as being ditzy and bimbo-ish since she was named as McCain’s Vice Presidential nominee.   Clearly, it’s she, and not Joe Biden, who has a handle on things.

Read the story on other Biden misstatements, including:

— health care taxes

— Obama middle class taxes

— War spending – Iraq versus Afghanistan

— Hezbollah

— Obama meeting with Iran without preconditions

— Iraqi budget surplus

The story goes on to say:

Unfortunately, voters who are trying to get an accurate count on whether the candidates are telling the truth can’t rely on the media. FactCheck.org mentions only one of these points, the size of the Iraqi surplus. The Washington Post mentioned Biden’s misstatement on Hamas and Katie’s restaurant. AOL’s coverage of the errors in the vice presidential debate was by far the worst, though that might not be too surprising given that Tommy Christopher, who wrote their news analysis, also blogs on the Obama Web site. None of these checkers mentioned Biden’s statements about the role of the vice president.

And then details some of the unchallenged errors in Palin reporting.

What the American public wants is the facts about the candidates.  For the last several elections, the media has become more and more invested in a particular candidate and less likely to do objective reporting.  It’s a shame.  Americans are busy people and don’t have time to sift through the mountains of information to find balanced information.

Technorati Tags: Joe Biden,Sarah Palin,Yellow Journalism,health care taxes,middle class taxes,War spending,Iraq,Afghanistan,Hezbollah,Iran,Vice President of the United States,Executive Branch,Legislative Branch,Media Bias

Quit digging…

“What do you do when you’re in a hole?  Quit digging.”

So sayeth Sarah Palin on the American economy.

Amen Sister.

I just love her.

Americans – for a moment

The American culture has coarsened over the years.  We are inundated with commercials pushing tampons, feminine pads, PMS cures, male enhancement/enlargement/readiness, we’re told we will be happier if we have a full head of hair or reduced wrinkles or larger breasts.  The only way to connect with our spouse or children is by taking a cruise.  We need a bigger house, better appliances, whiter teeth, a luxury car.  And we need them now.  And you can get it financed at a low introductory rate!

We get catalogs and magazines in the mail that show teens and pre-teens in unzipped jeans, waist bands sitting just above the rump, sweet pink sweatpants that proclaim Do Me! on the fanny, super-short shorts, see-through shirts, stiletto heels, that just outta bed (if ya know what I mean {wink}) rumpled look., that just scored some drugs, sold some drugs, did some drugs or killed someone gangsta look, I’m addicted to heroin but boy am I skinny in these jeans look.  Our kids want to look like that…now.

We are subjected to movies and television, graphically bombarding us with topics that used to be considered private – sex, pre-marital sex, unplanned pregnancy, homosexuality, drugs, alcoholism, foul language, gangs, violence.  The list goes on and on.

Our kids are fascinated by games – no, not Scrabble or Monopoly.  Video games like Grand Theft Auto that feature rape, murder and mayhem.  Our kids are listening to music that features foul language, violence against women, violence against law enforcement and more.

I’m not saying that any of these things in and of themselves make us coarse;  but the constant indoctrination has desensitized us and broken down our resistance.  We would rather accept than speak out.

Too many Americans have fallen into the politically correct culture.  We don’t say something is wrong because we 1) don’t want to appear insensitive or biased or 2) we don’t want to suffer the backlash that invariably comes when one says “that’s not right”.

The American people have become immersed in the go-go, gotta get it now, immediate gratification lifestyle.   Even when we know that there’s a problem, even when we are moved to act, it doesn’t last long.  Our leaders know this.  Corporations know this.  They count on it.  An issue may create a furor, but they know it won’t last long.  The American people will be on to the next thing in a couple of weeks and they won’t pay attention to the business as usual in our cities, states, and nation.

How worked up were the American people on the following issues?

Foreign ownership of American assets – Winter 2006

Americans said NO! to the concept of a Middle East company owning domestic ports.  After the deal with the UAE fell apart, the public stopped paying attention.

Illegal immigration – Spring 2006

Thousands of Americans said enough is enough at the prospect of open border and amnesty for illegal immigrants.  They resented the idea that people breaking the law would get a pass.  That the American citizen was the interloper in this country.  After the initial spurt of rage, American’s settled back into to their lives.

High energy costs – on-going

American citizens were outraged at the incredible increase in the price of gasoline.  They told anyone who would listen – including lawmakers – that something had to be done.   After the cost of gasoline started to decline, the importance of the issue began to decline as well.  The issue isn’t solved, prices of gasoline, diesel, heating oil and natural gas will begin to rise again soon and we have done nothing, except lose momentum.

Inappropriate advertising to children – Spring 2007

Parents said ENOUGH at the sexualization of young people when Abercrombie & Fitch used increasingly risque ads in their advertising campaigns.

An initial victory resulted in Abercrombie pulling ads.  Parents got complacent.

Abercrombie went back to business as usual.

Image from current Abercrombie home page.

Now it’s the economy.  Nothing else matters.  We are single-taskers.

Americans used to be a hearty lot.  Tough, strong, determined.  We were multi-taskers.  Able to deal with many things at once, because we had to.  Willing to see a thing through.  Too few of us are willing to see a thing through anymore.  We wait until we are really riled up to demand responsibility from our leaders and our corporations and after initially pacified, we shut up.   We are too easily pacified – gotta get it now; and once gotten, we move on to the next thing.

We do not keep on them for permanent change.

Perhaps the change we should be seeking is change within ourselves, not via Barack Obama or John McCain.  Politicians are always politicians.  They won’t change.  We need to.

NOTE:  Kurt from Dancing with Fire wrote to suggest that I rewrite my original final paragraph above, fearing it might be interpreted as an endoresement for Obama’s ‘we are the change we have been waiting for’ theme.  So, to be clear, please refer to my post here and this edit to my final thought on this post.

An idiom of Barack Obama’s has been “we are the change we have been waiting for”.  Change for change’s sake is not always good.  The change American’s needs to make is individual – not dictated by someone else, not legislated by a governing body.  A tagline in a speech will never effect long-lasting, meaningful change;  Significant change it will not come via a political party or social movment.

Everyone thinks of changing the world, but no one thinks of changing himself.
— Leo Tolstoi

Stand up for your values.  Listen to your soul on issues of right and wrong.  Make your decisions based on what’s right, not what’s easy.  Refuse to be bullied into submission.

The unity of freedom has never relied on uniformity of opinion.
— John Fitzgerald Kennedy

Take back your government; it has not served you well.   Refuse to be deceived by their sleight of hand; refuse to be divided by party or issue or class.  Take responsibility for yourself, and expect your government to be responsible with the power you give it.  They work for you.

We must hang together or assuredly we shall hang separately.
— Benjamin Franklin

A house divided against itself cannot stand.
— Abraham Lincoln

Technorati Tags: Americans,political correctness,politicans,energy plan,illegal immigrations,television,movies,advertisements,Abercrombie & Fitch,American Culture,John McCain,Barack Obama,Middle East,Oil,video grames

Don’t be so selfish…it’s good for everybody – Obama-isms

How much clearer does Obama need to be on his socialist agenda?  He keeps putting it right out there, media does their best to ignore it/edit it and if ever it’s brought up as a legitimate concern, Obama says 1) he didn’t say it or 2) it was misinterpreted.

Here’s the latest evidence that we are becoming France or some other nanny state.  And more evidence that the MSM is not fully and accurately reporting.

This is the way ABC News reported the encounter:

“Do you believe in the American dream?” a local plumber asked.

Obama said he did.

“I’m being taxed more and more for fulfilling the American dream,” the man said, in comments interpreted by reporters as a reference to the Democrat’s proposal to increase income taxes on those making $200,000 or more a year.

Obama recited his now-familiar talking points about 95 percent of the American people would get a tax cut under his plan.

The plumber did not seem convinced.

The video of the event located here proves that there was more to the encounter.  The interaction only lasts about 35 seconds and is at the beginning of the clip.  Please take a look.

The text of the conversation follows:

Man:  Your new tax plan is going to tax me more, isn’t it?

Obama:  It’s not that I want to puunish your success,  I just wanna make sure that everybody who is behind ya, that they’ve got a chance at success too.

I just think that when you spread the wealth around, it’s good for everybody.

Any questions?   Clear enough?  This man will not stop at “the rich”.  He’s like the aliens in Independence Day.  He’ll destroy one target, and then move on to the next.

Wake up America!  Yo have to fight for your liberty.

Technorati Tags: Obama,taxes,media,disinformation,MSM,socialism

Pay no attention to the man behind the curtain…

Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek. – Barack Obama

I am the great and powerful Wizard of Oz.

Pay no attention to the man behind the curtain

— the Wizard of Oz

I don’t know how much I believe poll data given their inaccuracy in years past — and it doesn’t help that the main stream media is soooooo Obama obsessed.  But Real Clear politics reports a widening margin for Obama, here.  Rassmussen (arguably the most reliable poll) has Obama ahead 52% to 45%.

I can’t personally intellectualize the shift.  Thinking about it, I think this may be more of an emotional choice for people.

Obama is young

Obama is attractive

Obama says the things people want to hear

Obama presents himself as a champion for the American middle class

Americans want to show they’ve evolved and will elect a black American president

Obama is the great and powerful wizard!

But look at the men behind the curtain. Look at his life in politics.  Look at the type of people with whom he associates.  If these are his allies, will he really be a friend to you?  Are your interests his interests?  Are his values your values?  Does he envision the same America that you do?  Who are the we that he talks about in the opening quote?

The men behind the curtain:

Jeremiah Wright – Everyone has seen the videos of Reverend Wright spewing his vile rhetoric.  If you missed it, here’s a sample; a sermon given at his church just days after the 9/11/2001 attacks:

The Reverend Michael Flegar, a catholic priest:

William Ayers, a co-worker, co-board member and neighbor of Obama’s oh, and domestic terrorist:

Acorn – a community organizing operation for whom Obama worked – by providing training and legal representation.  Implicated in numerous cases of voter fraud and complicit in the current credit crisis:

Louis Farrakhan, Supreme Minister of the Nation of Islam as the National Representative of Elijah Muhammad:

INDOCTRINATION?  The rising of a new Hitler Youth?

The Obama brainwashing – aka Stepford Children

The Obama Youth

Is Obama your idea of a messiah?  Do you think he has the same ideas of  America that most Americans do?  If these are the sentiments of his friends, doesn’t it follow that he shares those feelings?

Why has Obama tried to stifle free speech with lawsuits and policy support (here)?  Why is he asking lawmakers to join his “truth squad” designed to suppress free speech – and is that what you are expecting from your police force?

Are these the people Obama maintains we’ve been waiting for?

This man’s motives, associations and judgements are questionable.  Isn’t that too big of a risk to take with your future?

Technorati Tags: Obama,Revered Wright,Michael Fleger,Taxes,American Middle Class,Obama Truth Squad,Free Speech,William Ayers,Polls,Messiah,Terrorist,Terrorism,Domestic Terrorism

,

FDR’s WPA, Part 2

It appears the Democrats are already planning their New Deal.  This screams of FDR’s WPA, which, while it gave us some classic architecture, was really a step toward socialism.

It just looks like more spending that we can’t afford to me and disincentives for business.

See the source article here.

Tax rebate, food stamp money possible in aid plan

WASHINGTON (AP) – After consulting with Barack Obama, Democratic leaders are likely to call Congress back to work after the election in hopes of passing legislation that would include extended jobless benefits, money for food stamps and possibly a tax rebate, officials said Saturday.

The bill’s total cost could reach $150 billion, these officials said.

The officials stressed that no final decisions have been made. They spoke on condition of anonymity, saying they did not want to pre-empt a formal announcement. House Democrats have announced plans for an economic forum on Monday “to help Congress develop an economic recovery plan that focuses on creating jobs and strengthening our economy.”

Democrats said Obama’s campaign has been involved in discussions on a possible stimulus package. The party’s presidential candidate, running ahead in the polls, has outlined his own proposals for stimulating the economy.

Democrats are increasingly confident of capturing the White House and increasing their majorities in the House and Senate on Nov. 4.

If they are successful, a lame-duck session of Congress two weeks later would allow them to start work on a response to the credit crunch that has sent stock prices plummeting and also threatens to trigger a deep recession. It often takes two or three months for a new Congress to begin turning out legislation, particularly when a new president is settling into the White House.

On the other hand, by attempting to pass legislation next month, Democrats would have to negotiate with President Bush, whose term runs until Jan. 20, 2009. Additionally, Senate Republicans, with 49 seats, could block any measure they opposed.

House Speaker Nancy Pelosi told reporters in Denver last Wednesday a $150 billion stimulus package is necessary and she may call the House back into session after the election. Her spokesman, Brendan Daly, added, “Congress just worked in a bipartisan way with the Administration to pass an economic rescue plan to help stabilize our financial markets, and we must now work together to pass a jobs creation and economic recovery stimulus package.”

In the Senate, Majority Leader Harry Reid of Nevada has announced a post-election session beginning Nov. 17 to consider public lands legislation. His spokesman, Jim Manley, issued a written statement that said “recent developments only reinforce the need for additional action to reinvigorate the economy.” He added, “no decisions have yet been made on how to proceed.”

An Obama spokesman, Bill Burton, said the campaign is monitoring the situation.

The candidate has said previously he favors $25 billion to help states meet their own needs, another $25 billion for roads, bridges and other infrastructure, and $65 billion for tax rebates paid for by a windfall profits tax on oil.

Speaking in Ohio on Friday, the Illinois Democrat also said, “we should extend expiring unemployment benefits to those Americans who’ve lost their jobs and can’t find new ones.”

The House passed a $61 billion economic stimulus bill before lawmakers adjourned for the elections, but it was largely symbolic since Senate Republicans had already thwarted efforts to pass a companion measure.

It called for up to 13 additional weeks of jobless benefits in states with the highest unemployment, at a cost of $6 billion. Another $14.7 billion was ticketed to help states cover Medicaid costs. Enrollment in the federal-state health care program for the poor and disabled often rises with unemployment.

The measure also included money for road and bridge construction, a relatively easy way to create jobs and pump money into the economy.

With that bill’s passage blocked, Pelosi then sought to have it added to the financial bailout legislation making its way to Bush’s desk, according to officials in both parties. They said the White House signaled it would accept an extension of unemployment benefits, but the speaker refused to allow the stimulus package to be broken up.

As a result, Congress adjourned without providing additional benefits for the unemployed as increasing numbers of people are losing their jobs.

Congress enacted an earlier stimulus legislation with unusual speed last winter. It provided tax rebate checks of $600 to individuals and $1,200 to couples and included tax breaks to businesses investing in new plants and equipment.

Technorati Tags: Democrats,Republicans,spending,Obama,Reid,Pelosi,WPA,FDR,tax and spend,New Deal

100 Economists Scrutinize Obama Economic Plan

The McCain-Palin campaign issued a statement today regarding the opinion of 100 economists on the Obama economic plan.

How anyone can believe that raising taxes and increasing discretionary spending will do anything to strengthen the American economy is, in my opinion, is either an idiot or someone intent on driving the United States of America, as we know it, right into the ground.

See the original statement here.

The statement as posted states:

Economists Statement on Barack Obama’s Risky Economic Proposals
100 Economists Warn That With Current Weak Financial Conditions Barack Obama’s Proposals Run A High Risk Of Throwing The US Into A Deep Recession

ARLINGTON, VA — Today, McCain-Palin 2008 released the following statement signed by 100 distinguished and experienced economists at major American universities and research organizations, including five Nobel Prize winners Gary Becker, James Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith. The economists explain why Barack Obama’s proposals, including “misguided tax hikes,” would “decrease the number of jobs in America.” The prospects of such tax rate increases under Barack Obama are already harming the economy. The economists conclude that “Barack Obama’s economic proposals are wrong for the American economy.” The proposals “defy both economic reason and economic experience.”

The full economists’ statement on Barack Obama’s economic proposals and a complete list of economists who support it follows:

Barack Obama argues that his proposals to raise tax rates and halt international trade agreements would benefit the American economy. They would do nothing of the sort. Economic analysis and historical experience show that they would do the opposite. They would reduce economic growth and decrease the number of jobs in America. Moreover, with the credit crunch, the housing slump, and high energy prices weakening the U.S. economy, his proposals run a high risk of throwing the economy into a deep recession. It was exactly such misguided tax hikes and protectionism, enacted when the U.S. economy was weak in the early 1930s, that greatly increased the severity of the Great Depression.

We are very concerned with Barack Obama’s opposition to trade agreements such as the pending one with Colombia, the new one with Central America, or the established one with Canada and Mexico. Exports from the United States to other countries create jobs for Americans. Imports make goods available to Americans at lower prices and are a particular benefit to families and individuals with low incomes. International trade is also a powerful source of strength in a weak economy. In the second quarter of this year, for example, increased international trade did far more to stimulate the U.S. economy than the federal government’s “stimulus” package.

Ironically, rather than supporting international trade, Barack Obama is now proposing yet another so-called stimulus package, which would do very little to grow the economy. And his proposal to finance the package with higher taxes on oil would raise oil prices directly and by reducing exploration and production.

We are equally concerned with his proposals to increase tax rates on labor income and investment. His dividend and capital gains tax increases would reduce investment and cut into the savings of millions of Americans. His proposals to increase income and payroll tax rates would discourage the formation and expansion of small businesses and reduce employment and take-home pay, as would his mandates on firms to provide expensive health insurance.

After hearing such economic criticism of his proposals, Barack Obama has apparently suggested to some people that he might postpone his tax increases, perhaps to 2010. But it is a mistake to think that postponing such tax increases would prevent their harmful effect on the economy today. The prospect of such tax rate increases in 2010 is already a drag on the economy. Businesses considering whether to hire workers today and expand their operations have time horizons longer than a year or two, so the prospect of higher taxes starting in 2009 or 2010 reduces hiring and investment in 2008.

In sum, Barack Obama’s economic proposals are wrong for the American economy. They defy both economic reason and economic experience.

Robert Barro, Harvard University

Gary Becker, University of Chicago

Sanjai Bhagat, University of Colorado

Michael Block, University of Arizona

Brock Blomberg, Claremont-McKenna University

Michael Bordo, Rutgers University

Michael Boskin, Stanford University

Ike Brannon, McCain-Palin 2008

James Buchanan, George Mason University

Todd Buchholtz, Two Oceans Fund

Charles Calomiris, Columbia University

Jim Carter, Vienna VA

Barry Chiswick, University of Illinois at Chicago

John Cogan, Hoover Institution

Kathleen Cooper, Southern Methodist University

Ted Covey, McLean VA

Dan Crippen, former CBO Director

Mario Crucini, Vanderbilt

Steve Davis, University of Chicago

Christopher DeMuth, American Enterprise Institute

William Dewald, Ohio State University

Frank Diebold, University of Pennsylvania

Isaac Ehrlich, State University of New York at Buffalo

Paul Evans, Ohio State University

Dan Feenberg, NBER

Martin Feldstein, Harvard University

Eric Fisher, California Polytechnic State University

Kristin Forbes, MIT

Timothy Fuerst, Bowling Green State University

Diana Furchtgott-Roth, Hudson Institute

Paul Gregory, University of Houston

Earl Grinols, Baylor University

Rik Hafer, Southern Illinois University Edwardsville

Gary Hansen, UCLA

Eric Hanushek, Hoover Institutions

Kevin Hassett, American Enterprise Institute

Arlene Holen, Technology Policy Institute

Douglas Holtz-Eakin, McCain-Palin 2008

Glenn Hubbard, Columbia University

Owen Irvine, Michigan State University

Mike Jensen, Harvard University

Steven Kaplan, University of Chicago

Robert King, Boston University

Meir Kohn, Dartmouth

Marvin Kosters, American Enterprise Institute

Anne Krueger, Johns Hopkins University

Phil Levy, American Enterprise Institute

Larry Lindsey, The Lindsey Group

Paul W. MacAvoy. Yale University

John Makin, American Enterprise Institute

Burton Malkiel, Princeton University

Bennett McCallum, Carnegie-Mellon University

Paul McCracken, University of Michigan

Will Melick, Kenyon College

Allan Meltzer, Carnegie-Mellon University

Enrique Mendoza, University of Maryland

Jim Miller, George Mason University

Michael Moore, George Washington University

Robert Mundell, Columbia University

Tim Muris, George Mason University

Kevin Murphy, University of Chicago

Richard Muth, Emory University

Charles Nelson, University of Washington

Bill Niskanen, Cato Institute

June O’Neill, Baruch College, CUNY

Lydia Ortega, San Jose State University

Steve Parente, University of Minnesota

William Poole, University of Delaware

Michael Porter, Harvard University

Barry Poulson, University of Colorado, Boulder

Edward Prescott, Arizona State University

Kenneth Rogoff, Harvard University

Richard Roll, UCLA

Harvey Rosen, Princeton University

Robert Rossana, Wayne State University

Mark Rush, University of Florida

Tom Saving, Texas A&M University

Anna Schwartz, NBER

George Shultz, Stanford University

Chester Spatt, Carnegie-Mellon University

David Spencer, Brigham Young University

Beryl Sprinkle, Former Chair Council of Economic Advisers

Houston Stokes, University of Illinois in Chicago

Robert Tamura, Clemson University

Jack Tatum, Indiana State University

John Taylor, Stanford University

Richard Vedder, Ohio University

William B. Walstad, University of Nebraska

Murray Weidenbaum, Washington University in St. Louis

Arnold Zellner, University of Chicago

Technorati Tags: Obama,McCain,Palin,Economic Plan,Economists,depression,recession,tax hike,taxes,socialism,fascism,economic collapse

Now for something completely different, socializing your 401K

Rush Limbaugh was talking about this today, so I had to check it out.

From Investment News, here.

Congress mulls major 401(k) changes

By Sara Hansard
October 7, 2008, 5:18 PM EST

A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans.

Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans.

This was suggested by the chairman of the House Committee on Education and Labor.

“With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said.

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.

It goes on to say that a “Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds”.

There are so many things that tick me off about this.  Let’s review them:

“Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans. ”

To me, that means your 401K won’t be tax deferred any more.  You’ll get taxed on that money as income, taxed on any profits you receive, you may be taxed on any match your employer provides, you’lll get taxed when you receive that money (who knows if you’ll be able to withdraw it early), taxed when you spend that money and you’ll get taxed on any of that money that’s left when you die.  Talk about breaking the back of the American people.

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.

That suggests that this gentleman that money I’m investing is his money and he can’t get his grubby mitts on it and he’s pissed about that.  Look at what he says here:  “We’ve invested $80 billion…”   Wait a minute.  You’ve made no investment.  It’s money I’ve earned.  It’s not your money.  It’s not money you are giving me or investing for me.  It’s MY MONEY.  Until Mr. Obama is elected, I am not required to turn my earnings over to the state and wait for the state to give me back the share they want me to have.

The U.S. tax system is unfair enough, but for this man to imply that because a dollar that hasn’t been taxed is fair game for the government to come after…WHO ARE THESE PEOPLE?

“Congress should let workers trade their 401(k) assets for guaranteed retirement accounts made up of government bonds”.

Let’s read that again…Guaranteed Retirement Accounts… Isn’t that what Social Security started out being?  Look what’s happened to that.  It’s been borrowed from, reallocated, stolen and misused for years!  And now we’re going to set up another, similar program?   Congress refused to consider privatizing Social Security, and now they want to socialize your 401K.

Stand up people.  Be heard.  Vote those out who are not listening.

Refuse to become France.  Stand up before it’s too late.

Technorati Tags: Investment News,401K,George Miller,socialism,social security,taxes,protest

And the hits just keep on comin’ … $37 Billion MORE for AIG

From CBS News, here and Fox News, here

The Federal Reserve has agreed to provide insurance giant American International Group with a loan of up to $37.8 billion, on top of one made to the troubled company last month.

Under the new program, the Federal Reserve Bank of New York will borrow up to $37.8 billion in investment-grade, fixed income securities from AIG in return for cash collateral. These securities were previously lent by AIG’s insurance company subsidiaries to third parties.

Last month, the Fed provided an $85 billion loan to the company, which was on the brink of bankruptcy.
The White House said on Wednesday it was “despicable” that AIG executives spent hundreds of thousands of dollars on a posh California retreat just days after getting the $85 billion bailout.

This is a disgrace.  The fact that AIG was ‘too big to fail’ and were bailed out, only to have a $500,000 retreat and then get more taxpayer money after that behavior?

If you have AIG, call them, drop them, picket them.  Let them know that this is unacceptable.  Let your lawmakers know that this is unacceptable.  Voice your opinion.  It may not change things now, but you will have put these people ON NOTICE that you are watching and will make decisions later (at the ballot box) based on what you see.

Technorati Tags: AIG,Federal Reserve Bank,bailout,retreat,corporate greed,politicans,PROTEST