Obama the Socialist

There's no question about it, Obama is out to crush investors, entrepreneurs, small businesses, large corporations, private-equity and venture-capital as he laid out his socialist agenda during his State of the Union speech.

That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all — either for this recession or from the standpoint of expanding our economy’s long-run potential to grow.

Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years.

This is nearly double the government-spending low-point reached during the late 1990s by the Gingrich Congress and the Clinton administration. While not quite as high as spending levels in Western Europe, we regrettably will be gaining on this statist-planning approach.

Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.

And as far as middle-class tax cuts are concerned, Obama’s cap-and-trade program will be a huge across-the-board tax increase on blue-collar workers, including unionized workers. Industrial production is plunging, but new carbon taxes will prevent production from ever recovering. While the country wants more fuel and power, cap-and-trade will deliver less.

The tax hikes will generate lower growth and fewer revenues. Yes, the economy will recover. But Obama’s rosy scenario of 4 percent recovery growth in the out years of his budget is not likely to occur. The combination of easy money from the Fed and below-potential economic growth is a prescription for stagflation. That’s one of the messages of the falling stock market.

Essentially, the Obama economic policies represent a major Democratic party relapse into Great Society social spending and taxing. It is a return to the LBJ/Nixon era, and a move away from the Reagan/Clinton period. House Republicans, fortunately, are 90 days sober, as they are putting up a valiant fight to stop the big-government onslaught and move the GOP back to first principles.

Noteworthy up here on Wall Street, a great many Obama supporters — especially hedge-fund types who voted for “change” — are becoming disillusioned with the performances of Obama and Treasury man Geithner.

There is a growing sense of buyer’s remorse.

Well then, do conservatives dare say: We told you so?

Democrats Ethical Dilema

Throughout the election campaign, President Obama continuously promised that his administration was going to clean up Washington and that it would be open and forthcoming. However, since its inception it has been behind closed doors most of the time and full of corruption. I'm so glad to have this "Change We Can Believe In." But this is what the duped American public wanted and now you've got it America. Lets take a look at what's been going on during the first few weeks since Obama took office.

1)While the Senate voted overwhelmingly to confirm William Lynn as deputy defense secretary, Obama had to waive his ethics regulations to place the former defense lobbyist in charge of day-to-day operations at the Pentagon. What this means:

On his first day in office, Obama issued an executive order forcing individuals to wait two years before they could be hired for the agencies they had lobbied and to remove themselves from involvement in issues related to their former employers. However, Obama backtracked on his promise to keep lobbyists out of the federal government by waiving ethics regulations and putting a former defense lobbyist in charge of day-to-day operations at the Pentagon.

2) Obama's initial choice for commerce secretary, Bill Richardson, stepped aside due to a grand jury investigation into a state contract awarded to his political donors. What this means:

From 2004 to 2005, CDR Financial Products, a Beverly Hills, Calif.-based company founded and run by David Rubin, received nearly $1.5 million through the New Mexico Finance Authority for advising the state in a complex highway funding project pushed by Richardson. In roughly that same time period, CDR and Rubin gave approximately $100,000 to political organizations run by Richardson, including one that paid for his and his staff's expenses at the 2004 Democratic convention.

3) Tom Daschle, the former Senate majority leader from South Dakota, abandoned his bid to become health and human services secretary and the administration's point man on reforming health care because of issues with back taxes and conflicts of interest.

4) Nancy Killefer stepped down from a newly created position charged with the same issue, taxes. She stated, "she didn't want her bungling of payroll taxes on her household help to be a distraction."

5) Tim Geithner also having problems paying his taxes and yet was confirmed as Treasury Secretary.

Are you beginning to see a pattern here?? Could you imagine what would happen if we committed only a small portion of the tax fraud that these Liberal politicians did?? We'd have our assets taken away, get fined and even possibly spend some time in jail. But what do these socialist senators say about all this?? Are they angry? Are they upset? Are they calling for punishment?

Not at all, here's their comments:

"Tom,(speaking of Daschle) made a mistake, which he has openly acknowledged," Obama said. "He has not excused it, nor do I. But that mistake and this decision cannot diminish the many contributions Tom has made to this country." Huh!!!

"I was a little stunned. I thought he was going to get confirmed," said Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, the panel that would have voted on Daschle's nomination. "It's regrettable. He's a very good man."

So basically, as long as I'm a good man I can just forgo paying my taxes for 3 years without any consequences?

Don't you just love the "change" Obama has brought to Washington? Could you imagine if this was George Busch? They'd be ripping him to shreds. Looks like Obama has decided to keep the "Good ol' Boys Club" going just a bit longer. Surprise surprise!

Rob

How Much Is A Billion Dollars?

How many zeros in a billion? This is too true to be funny.
The next time you hear a politician use the
word 'billion' in a casual manner, think about
whether you want the 'politicians' spending
YOUR tax money.

A billion is a difficult number to comprehend,
but one advertising agency did a good job of
putting that figure into some perspective in
one of its releases.

A.
A billion seconds ago it was 1959.

B.
A billion minutes ago Jesus was alive.

C.
A billion hours ago our ancestors were
living in the Stone Age.

D.
A billion days ago no one walked on the earth on two feet.

E.
A billion dollars ago was only
8 hours and 20 minutes,
at the rate our government
is spending it.

While this thought is still fresh in our brain...
let's take a look at New Orleans .
It's amazing what you can learn with some simple division.

Louisiana Senator, Mary Landrieu (D)
is presently asking Congress for
250 BILLION DOLLARS to rebuild New Orleans.
Interesting number...
what does it mean?

A.
Well.... if you are one of the 484,674 residents of New Orleans
(every man, woman, and child)
you each get $516,528.

B.
Or... if you have one of the 188,251 homes in
New Orleans , your home gets $1,329,787..

C..
Or... if you are a family of four...
your family gets $2,066,012.

So did you ever stop to think just how many taxes we are paying?
Below is a list:

Building Permit Tax
CDL License Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax (Fed)
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage ChargeTax
Utility Tax
Vehicle License Registration T ax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
(And to think, we left British Rule to avoid so many taxes)

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago...
and our nation was the most prosperous in the world.

We had absolutely no national debt...
We had the largest middle class in the world...
and Mom stayed home to raise the kids.

What happened?
Can you spell 'politicians!'

And I still have to
press '1'
for English.