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.

Thursday, December 02, 2010

Scott Brown Blast Dems for Allowing Unemployement Benefits to Laspe for Millions Dec. 1, Rousing Speech (Video)

Senator Scott Brown, (R-MA) image NYDaily News

On the 30th of November, 6 hours before the 99 week extension for unemployment benefits were due to lapse, Senator Scott Brown (R-MA) gave a rousing speech on the inability of the Senate under the direction of current Majority Leader Harry Reid (D-NV), to get anything done. Brown’s proposal to extend benefits to those 2 million unemployed, who had, as of yesterday, lost their benefits, was simple, do not add to the debt, use discretionary funding (funding available to those sitting Senators). Brown, who takes heat from both the right and the left, is standing firm on this issue. Massachusetts has not seen leadership and initiative by a single politician of this ilk who stands for the people of the Commonwealth and the nation, since John F. Kennedy became a State Senator. Kudos to the Junior Senator from Massachusetts. For those families who are going to go through unimaginable hardship in Massachusetts, one might suggest calling the office of John Kerry in Washington (202) 224-2742 and asking him to vote with Senator Brown and stop partisan stonewalling in order to get those families immediate aid. While leaving a message, include the tax cuts that are expiring and without which businesses are not hiring, perhaps Kerry would like to join Senator Brown on that critical issues as well. Senator Kerry, who is facing re-election in 2014, should, for once, cross party lines, and agree to extend all tax cuts to get business moving (or emulate John F. Kennedy) and cut unnecessary spending in order to fund unemployment.

Richard Neal (D-MA2) Plans to Run for Re-Election in 2012 – Despite Possible Redistricting and Loss of Congressional District

Richard Neal(D-MA2) and John Olver (D-MA1), May have to run for new combined district seat in 2012 - photo Springfield Republican.

From: (Springfield Republican) – Congressman Richard Neal (D-MA2) announced yesterday that he would seek re-election to Congress in 2012. Neal has held the seat since 1989 and faced his first challenge in 2010 in Republican Tom Wesley, a political newcomer who garnered 40% of the vote in the district, exceeding pundit’s expectations showing Neal as powerhouse taking 75% of the vote. There will be several challengers to Neal’s seat in 2012, however, that will depend upon the Commonwealth’s redistricting due to a significant loss in population forcing the loss of a Congressional seat. As of this time, it is unclear which district will be lost in the state, with some speculation that the 1st and 2nd districts will be merged, having the lowest populations.

Massachusetts has lost population consistent with increased taxes and joins other similarly high tax states in losing seats. From via Washington Examiner:

New York and Ohio are likely to lose two seats each, while Illinois, Iowa, Louisiana, Massachusetts, Michigan, Missouri, New Jersey, and Pennsylvania will be down one apiece. The average top state personal income tax rate in these loser states: 6.05 percent.

Therefore, Neal, who had been vying for the top slot on the Ways and Means Committee prior to the Nov. 2nd election which saw an historical power shift in the House, with Democrat losses the highest since the 1930’s, is now relegated to “ranking member”, with the possibility of the current district, east of Springfield, being merged with part of the 3rd district held by McGovern, leaving the 1st District alive and well under the direction of John Olver who will face an in party challenge from Berkshire Register of Deeds and former state Sen. Andrea F. Nuciforo Jr., a Pittsfield lawyer, is running for the 2012 Democratic nomination for the seat and has a fund-raising event scheduled for Thursday.

With the possibility of the District Loss, Neal may have to face a three way primary challenge against fellow Congressman John Olver (D-MA1) and Nucifero. Neal, a former schoolteacher, first ran for elected office in 1984 and won the seat as Mayor of Springfield, he was elected to the Congress upon the retirement of Democrat Edward Boland, facing no opposition in 1989. Neal, who has been dubbed “Nancy Pelosi’s and Irelands Tax-Man on the Hill” votes straight party line 98% of the time. In the waning hours of the 111th Congress, Neal and other House Democrats plan to force a vote on tax cuts, proposing the Progressive model of increasing taxes on all businesses and income over $250,000 while negotiations between the White House and Senior members of the House and Senate are still taking place. A purely political stunt designed to embarrass the incoming majority. The Bush Tax Cuts are set to expire on the 1st of January, with an across the board increase in taxes for all Americans. The Democrats in both Houses and the Administration appear to be stalling and allowing these tax increases to go through, which will, in all likelihood extend the current economic crisis. The blame will rest solely on those who failed to move this issue forward over the past two years, and, Neal, who held a high ranking seat on the Ways and Means Committee, had the power to do so.

Wednesday, December 01, 2010

Unemployment Benefits Extended for up to 2 Years end for up to 2 Million this Week in 26 States, Including Massachusetts – the Downward Spiral

The Downward Spiral of Tax and Spend and Regulate Policies

FromYahoo Finance: the Federal government’s 73 weeks of unemployment aid to 26 of the 50 United States will end this week leaving families out in the cold. The Federal Aid to States was offered under the “Recovery Act” (otherwise known as “Stimulus Bill”), where states would be eligible for extended benefits if they “split the bill” with the Fed. Apparently 26 of the States that signed on, including Massachusetts, will drop the benefits once the Federal portion of aid ceases according to Yahoo Finance. Massachusetts, already cash strapped and bleeding taxpayers for years, so much so that they are losing a Congressional Seat in 2012, is in a tenuous position to cover any State benefits once the Fed either hits the debt ceiling and/or runs out of taxpayers as well. An interesting read on Ubran Grounds shows a direct connect between states that have a high tax rate and those taxpayers pulling up stakes and moving elsewhere.

Leading the charge in “How to Collect Unemployment in Massachusetts” is the Massachusetts AFLCIO. A “packet” of information on the Unions website (here) guides members on the ins and outs of the Massachusetts unemployment system – also worth the read.

Massachusetts residents who are left paying taxes (including those who received unemployment benefits or are receiving unemployment benefits), will, in all likelihood, face a decrease in payroll at the first of the year, due to an increase in tax rates. In the past two years, the Obama administration and both houses of Congress failed to address the Bush Tax Cuts, which are now expired. In a meeting yesterday between the President and representatives from the Republican and Democrats in both Houses resulted in a decisions to appoint “negotiators” for both sides of the aisle before voting in either house to extend the Bush Tax Cuts either in whole or in part. .

Why would the decision to put off a vote and “negotiate” a “deal” between Geithner (Obama’s choice), and Representatives of both Political Parties matter to those forced to try and find a job in any state, let alone those who are now losing extended benefits? Those tax cuts, and other factors of “economic uncertainty” for both small and large employees are forcing firms to hold back on adding jobs. It is that simple. Extend the tax cuts and revoke some of the programs instituted under the Obama administration that have hamstrung employers (article from Cato Institute reprinted from Investors Business Daily) , and the jobs reappear. As it stands now, employers have no idea of what their bottom line will be, therefore, zero hiring is the result. As the Democrats, Republicans and Obama Administration play politics, the worse off those sitting in Massachusetts (or other states) are going to be unless the job market improves.

What is suggested when looking at the human element when it comes to those who are about to face an end to unemployment compensation is to read the comments under the Yahoo article Here . Not everyone collecting unemployment compensation on extended benefits are doing so by “union guidelines”, rather, individuals who have worked their entire adults lives, first, upon losing a job, tightened belts, ran through savings, including 401k’s, and then, still unable to find employment, at a significant reduction in wages, (If, in some cases, that individual would even be considered due to being “overqualified”), in order to jump to unemployment compensation as a last resort. Not everyone who will be faced with this adversity has played the system, knowingly or with a little help from “organized labor”.

Unfortunately, those in power in the Commonwealth, and elsewhere, appear to have no inkling as to what will happen once the public through runs dry and the Fed and State revenues are depleted. SNAP (a credit card used at convenience stores, supermarkets, etc., which replaced Food Stamps) will not be sustainable at current levels (See: MA Billion Dollar 2010 Disbursements.) Additionally as Massachusetts is the 7th largest destination for those entering the country (illegally or not), those seeking entitlements might find themselves better off returning from whence they came. Those of us left behind holding a job (so far) should be kind to our neighbors, and offer assistance to local faith based groups that feed the hungry. It is the people, exceptional ordinary American Citizens, not the government who lives off the people, that will rise to the occasion.

Tuesday, November 30, 2010

MA Congressional Delegation Scores Low on 2009 Liberty Index – Richard Neal, Barney Frank, and John Tierney Score Highest Out of 10

Samuel Adams, Pride of Massachusetts a Son of Liberty - image

The Liberty Index, published for the past 22 years by the Republican Liberty Caucus, recently released its 2009 assessment of Members of Congress and how they rank in regards to economic and personal liberty. The study is” compiled and analyzed by Professor Clifford Thies who holds the Eldon R. Lindsay Chair of Free Enterprise in the Economics Department of Shenandoah University. He is assisted by an anonymous panel of experts who have worked with him on the project for many years. This year his work is dedicated to the late David Nolan whose system of charting political ideologies has been a valuable tool for educating voters and promoting libertarian ideas. (ht/Blog Critics).

The Index Full PDF here), is based on individual Representatives votes on both economic and personal liberty issues, the score is based on a total of 40 votes, roll calls and links to bills are provided in the PDF. A perfect score would be 100 on each category, and this year one Congressman did achieve a perfect score, Congressman Jeff Flake, R - AZ6th, scoring slightly higher than Libertarian Champion, Ron Paul R-TX14th. All Congressional Representatives are scored, and also given a ranking as to their ideological approach to the issues of economics and personal liberties. The categories are: Libertarian, Enterpriser, Conservative, Moderate, Liberal and finally Authoritarian! The entire Massachusetts Congressional Delegation are designated by their voting records as Authoritarian, however, three of the 10 Massachusetts Democrats at least score in areas of economic and personal liberties.

Keeping in mind the score is based on 100 in each category, Congressman Barney Frank (D-MA4), received a 0 for Economics and a 30/100 for Personal Liberty, Congressman Jim Tierney (D-MA6) score a 13 in Economics and a 21 in Personal Liberty, leaving Richard Neal (D-MA2) scoring 7 in Economic and 29 in Personal Freedoms (one behind Barney Frank). (Ironic in that Frank chaired Finance and Neal was seeking the Chair of Ways and Means)

The Republican Liberty Caucus, is the Libertarian Leaning arm of the Republican Party and endorses candidates through it’s PAC as well as offers state chapters, even in Massachusetts.

From the perspective of a Massachusetts citizen who views the Commonwealth through rose-colored glasses of the historic contributions of the early residents and leaders of the Massachusetts Colony who were, as every 2nd grader should be made aware, pivotal in forming a government that offered both economic and personal freedoms in spades. This allows the resident of Massachusetts the opportunity to have some pride in living in the state that contributed so much to the founding of this great nation.
However, upon viewing the scores of the Massachusetts Congressional Delegation, one might say the rose is off the lenses, and a deep abiding embarrassment for our State settles in. Massachusetts is represented by those who are labeled “Authoritarian” (defined by Webster’s as: “of, relating to, or favoring a concentration of power in a leader or an elite not constitutionally responsible to the people ) and score low, but at least score.

Apparently, the fact that they scored at all, may come as a surprise to residents and voters who, for the first time in decades had choices at the ballot box in 2010, and made those 10 Democrats actually campaign for their seats. The results were closer than in previous elections, and that has given incentive for Liberty loving individuals of the Bay State to challenge each and every one of them again in 2012. Throwing off the shackles of Authoritarianism, so to speak, is not an overnight affair, rather may take several electoral cycle, in order to finally achieve balance in the Bay State. That day cannot come too soon – Authoritarian indeed.

Monday, November 29, 2010

Obama Approval 39% TSA Debacle Taking Toll – How Low Will It Go? – Will WikiLeaks Have an Impact? Analysis

US News and World Report notes that Zogby Interactive Polling places Obama’s approval at 39%, well below the “average” on Real Clear Politics. Real Clear Politics averages all polling data (with the exception of Zogby) , in order to offer an overall assessment of job approval.

In the US News article, the poll results included hypothetical match-ups with GOP possible presidential candidates. In this poll, Gingrich, Romney and Jeb Bush all bested Obama; Palin was within one point – giving a picture of how interactive polling (or those using the internet versus traditional telephone surveys) predicts the 2012 outcome as of November, 2010.

(The Zogby methodology uses random samples of individuals who are invited to participate in a secure online poll, which allows for faster, larger samples. This method is light-years away from typical Internet “polls” in which results can be skewed to favor one “candidate” over another simply by having supporters clear their cache on their computer and vote incessantly. Some of the online polls offer a 24 hour lockout of an ISP, which can be tricked by clearing the cache. Therefore, Zobgy’s polling methodology and the integrity thereof, is not subject to multiple entries, and no different than traditional polling methods used by organizations such as Rasmussen which uses a computerized telephone sample method.)

US News suggests that the boondoggle from the TSA have been attached to Obama in the public eye, and that may be a reason why his approval is dropping. The fact that his policies have been rejected by the American public, as evidenced by the 2010 mid-term elections, is, in all likelihood, being enhanced by the constant revelations of the Administrations ineptitude in handling just about anything – including WikiLeaks and one Julian Assange.

Yesterday Mr. Assange, an Australian computer hacker turned “activists”, released classified foreign policy documents to newspapers globally as well as posting these “secret” documents on the WikiLeaks website. Mr. Assange, seeking more than 15 minutes of fame, is nothing more than a left of center, anti-government anarchist, who is using the web in order to further his “fame”. The documents were obtained through a U.S. Army intelligence officer who was apparently gleeful of “leaking” the documents to Assange:

“Hillary Clinton and several thousand diplomats around the world are going to have a heart attack when they wake up one morning, and find an entire repository of classified foreign policy is available, in searchable format, to the public,” Manning wrote.”

Two questions come immediately to mind: one, how much of a “Clinton hater” is this young disgruntled (about to be demoted prior to releasing the documents) man? Clinton, not Obama appears to have been the target given this statement, so one could conclude that the young man was not a fervent supporter of the Secretary of State.

Additionally, how much does one get paid for leaking to WikiLeaks? To believe that the website is not a corporation in and of itself is naive. The group survives by “donations”, which can be made through its website via bank transfers and credit cards. In order for Julian Assange to travel the World, he would need quite the bankroll, and any employees of WikiLeaks, one can bet the house, are not unpaid volunteers. To note, the website is based on leaks primarily of U.S. Origin, so one can further speculate that those “donating” to the cause, do not have the best interested of the U.S. at heart. Would that include Heads of State, perhaps?

The man who became the target, perhaps unintended, was not the United States overall, but the President and his administration. Upon publication of the information by the New York Times they offered an editorial on their decision to publish, after having spoken with the Administration, and agreeing, only in some instances, to not publish certain materials. Overall, the ”Treasure trove” of leaked cables is featured in a 4 page article on the front page of the Times website.

It is, again, naive to believe that the President will not take the brunt of the blame for this debacle. His failed foreign policy trip to Asia, directly following the mid-terms has become somewhat legendary. These leaks just add fuel to the fire regarding the ineptitude of the administration’s ability to deal with foreign policy.

The fact that the most powerful nation on earth, which, under the Bush administration, appeared to have a fairly decent handle on intelligence, and overall, may have been “hated” by the “world” for being a “cowboy”, has become, under the Obama administration, one big joke after another, is not surprising. Former President Carter used similar methodology to Obama’s when dealing with foreign policy – inexperience. He also applied the same principles to the economy with similar results. The problem in this instance is that the picture painted by these documents make Obama out to be some sort of foreign policy “thug”, especially when The “Great World Hope” of Obama used what amounts to extortion when certain World Leaders wished to meet with the White House. Considering the later, and how it relates to the “Chicago “gangsta” persona employed by the President from time to time”, perhaps he might have, with foreknowledge of these leaks evident, employed the same threats to that weasel Assange, sending him back to his mothers basement where he belongs. However, he did not.

The “Revelations” in these “Leaks” (to date), are more embarrassing to the administration than anything else. Much of the “leaks” are somewhat “common knowledge”, for example, the “revelations” regarding the relationship between Saudi Arabia and Al Queda. However, the harm done will be to the Obama administration and places one more nail in the proverbial coffin of public opinion of the President.

The unintended consequences of Assanges’ actions:
As the world digests the duplicity of the Obama administration (evidenced by these “leaks), and the voting public understands that the President is clueless when it comes to keeping the nation safe (see Borders in addition to the “leaks”), how the next President will be chosen, will now be based upon, not only the economy but also foreign policy strength, or more to the point, a drive to keep American’s safe and the nations data safe. This brings up the list of potential candidates thus far: Mitt Romney, who has business experience, has half of the equation, Mike Huckabee, a Governor, has little business (Fortune 500) with foreign policy experience that is at least equal to most State Governors. (Which said, Governors who have to run a mini-government, including a military (National Guard), do have the bonafides to assume the office of the Presidency more than a one-term Senator. Finally, when Palin, who spoke of the ability to see Russia from certain points in Alaska (which was taken by comedienne Tina Fey to mean Palin’s house), gives the V.P. candidate turned potential Presidential Candidate a bit of an edge, given her work with the U.S. Governors Association, National Resources Committee (Energy), which is crucial to U.S. Defense, the Economy and Foreign Policy - given the nature of the Republic of the United States of America and how independent most states are when it comes to determining policy that affects the entire country. That said, of the three mentioned above (being those most often associated as running in 2012 by the press) the leader of the U.S. must have at least an appearance of strength or the appearance (to the world and those on the left) of being crazy enough to challenge the world in the best interest of the United States. No crystal ball needed to understand that the odds of Obama being a 2nd term president, given the continued “gaffes”, are greatly diminished.

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