Friday, December 03, 2010

House Dems Vote To Kill Business in Political Stunt Expected to Prompt December 15th Market Crash – The New “Red Menace”


Food lines in Utopia read article Communist Food Lines

From The Hill: Yesterday the House of Representatives voted 234-188 on extending the Bush Tax cuts to those who earn under $250,000, leaving business on the hook for paying higher taxes in 2011. The vote, with Speaker Nancy Pelosi (soon to be Minority Leader), closed the voting process with her approval, receiving somewhat tepid applause. 20 Democrats voted with the Republicans in opposition. In simple terms, with business seeing tax increases coming down the pike at a rapid pace, they will simply not hire, extending the misery of more than 15,000,000 people who are unemployed. Some businesses may just pickup and move to more “tax friendly’ countries, or close entirely, adding additional claims to unemployment rolls. Could they have voted to extend the tax cuts, in whole or in part, in the last 5 years that Nancy Pelosi has controlled the Congress? Absolutely, they certainly had the time to do so, but it was not politically convenient to extend part or all or none of the tax cuts, or write new legislation during that period.

Perhaps Ms. Pelosi feels that it will be easier to blame Republicans coming into office in 2011, for the new taxes that will be paid by all American’s, thereby tarnishing the Republicans (who have not yet taken the majority) with the brush of having voted against the middle class, in the hopes of reviving their own political fortunes in 2012. When one looks at the reality of the political process, and the short time between elections, Pelosi and her cohorts are already announcing, in some cases, their intent to run for reelection, in the hopes of gaining back control of the Government. However, no matter how hard they will attempt to spin this one, the fact of the matter is, without the employers, and without the employed, all government funding will cease to exist.
The utopian ideology shared by the Speaker and the administration so enamored of an “equitable social “share the wealth” option, perhaps forgot, ignored, or were simply ignorant of the fact that the model where the government controls industry, retail, food, insurance, and the like, has not worked – on a large scale in a country bigger than say Austria. Russia collapsed under the system, with worker standing in line for bread and simples supplies. Capitalism, which, last time anyone looked still was the guiding principle behind American economics, allows for individuals to create businesses at will, hire people, pay taxes, and keep the payroll going, to both the individual , the corporation (small or large) and the federal and state governments. By raising taxes on struggling businesses, many of which, like GE (who owns NBC and MSNBC) received bailouts by the Fed (Washington Post), will have the effect of instituting a dnr on the nations Federal income.

How bad can it get? US News and World Report, notes that without the full Bush Tax Cuts the market is set to crash in two short weeks. Should the market crash, as predicted, that will wipe out life savings, stall and or kill business, and leave the nation in a state similar to the 1930’s, with one exception. In the 30’s there were not millions of people who were used to receiving SNAP (food stamp credit cards), Fuel Assistance, Welfare, Social Security Disability for the inability to speak English, and a host of other programs which are controlled by the same party whose level of incompetence appears to have no boundaries. In the 1930’s, people received handouts from the government in the form of workfare, and yes, there were riots in the street, most notably by those whose political ideology most closely matched the current Speaker and the Administration – it was politely dubbed “The Red Menace”. Therefore, the New Red Menace lies in the Administration, the Current Congress, and their Unions. The rioters may come, indeed, but the blame will be placed, not as intended, but rather on those who were unable to provide – the current administration.


To recap – there is a direct correlation between giving businesses and the middle class tax cuts, and the ability to offer “aid” to the homeless, banks, and Europe - it works, splendidly - however when one places 90% of the tax burden on those earning 250,000 plus, one is treated to a depression. In the 1970’s, industries moved south, “the Sun Belt”, not for the climate, but for the tax rates, leaving those tax and spend Northern States (most notably Massachusetts) and their high corporate tax rates, without industry to pay for the increased entitlements. People left in droves for states where jobs were available, and taxes were lower, and over the years, instead of figuring out this simple equation, the need for Governors such as Dukakis and Patrick to tax and then add more programs which are unsustainable due to lack of a)corporations and b) taxpayers continues unabated.

This is the result: In Georgia hundreds of people waited in line to receive fuel assistance as the temperatures dropped below 30, the agency which receives federal funding had to turn people away. Those people standing in line were there for fuel assistance, spoke to the heart of the problem: (AJC):

“We have assistance for food, we have assistance for clothing, but we don’t have assistance for diapers,” she said. “That’s my biggest struggle right now.”


Therefore, we have millions upon millions who are getting their food and clothing from the State (Fed) now, (not to mention housing, cell phones, cars, Triple A (see Massachusetts), looking for additional funds to heat their homes.

Sooner than later, the practice of trying to buy the votes of these virtual “welfare slaves”, will come to a bad end – when there are no taxpayers, or few taxpayers left to support both those recipients and the government who misleads them into believing that the cash comes from the Federal Government. - they should be thanking taxpayers, not Nancy Pelosi, for their ability to stay for years on the “public dole”.

What if the market does crash on the 15th of December? American’s will survive, we’ve done it before, and we will do so again. However, the Progressives will not learn, they will continue to push for a version of Soviet Russia that has been immortalized as successful in their minds, eschewing fact for a fictional utopia of bread and soup lines and badly built appliances, generational apartment living (as there will be no home ownership except for those “elite” who are at the top of the political class.
Which is why, historically, the nation will recover, the prosperity will return, and those ideologies will sit by on the sidelines, the university professors, the actors, actresses, GE, NBC, MSNBC, Manhattan socialites, and ponder how to bring back their brand of sanity to the “world”, in another 40 years or so.

Just a note of moderation: During the past few year certain talk show hosts have predicted one catastrophe after another, the last was the possibility that the mid-terms might not take place if there were an emergency– that did not happen, obviously. Therefore, what American’s do have is the power of the ballot box, and the ability to see through the vain and the stupid, and the uninformed and the greedy, in order to affect the change necessary to restore the nation, at least temporarily. When listening to zealots, be the politicians, professors, high school teachers, union reps, the President or a right wing talk show host consistently predicating disaster, keep in mind who benefits: The politicians maintain their jobs and power, the professors maintain the same, the teachers are fed by the unions (not quite as elite as the others) and that talk show host is making millions scaring the heck of out anyone who takes their word as “gospel”.

Debunking: it has never been this bad:

Nationwide bombings and riots in the 1920’s
List of riots (Union) in the 1930’s
Progressive education in the 1930’s, leads to 40’s backlash
Photo essay (brilliant) of the 1930’s food lines, poverty, et. al

Of import:
U.S. Population in the 1930’s
U.S. Population in 2010

Adjust for inflation

Something to ponder:

In the last census, the U.S. Population stood at approximately 308.4 million (figure US News/US Census), of which approximately 50% pay no taxes. Compare to the US of 1930 of 122,775,046, of which even the lowest income level paid 5% to the federal till. (Tax Foundation)


Note: Congress had 5 years under Nancy Pelosi to tweak or fix, with her Tax Men, Charles Rangel (censored) and Richard Neal (D-MA2) the tax code, however, they waited until the most inopportune time for American’s thinking of their own political hides.

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