
The world will end on October 5, 2009.
At least that's when the Dow Jones Industrial Average will go to zero at the current rate of decline.
Enough. While they take to the streets politically, untold numbers of America's wealth producers are going on strike financially.
ABC News spotlighted upper-income earners going Galt in response to Obama's proposed tax hikes on families with incomes of $250,000 or more. A Lafayette, La., attorney told the reporter she was cutting back on her business to avoid the tax threshold: "Why kill yourself working if you're going to give it all away to people who aren't working as hard?"
We’re following in the same path, and I will not blame anyone who works/produces less, hides more assets, pays lesser taxes. I’ll lead the way, and how.
I’ll be glad to help the IRS in catching you at every step.
We need earmark reform and when I’m president, I will go line by line to make sure we’re not spending money unwisely,” McCain said, reading back Obama’s words at a debate last fall. “That’s the quote, the promise of the president of the United States made to the American people in a debate with me in Oxford, Miss. So what is brought to the floor today — 9,000 earmarks.…So much for change.”
Iranian Air Defense Radar: “Unknown aircraft you are in Iranian airspace. Identify yourself.”
Pilot: “This is a United States aircraft. I am in Iraqi airspace.”
Iranian Air Defense Radar: “You are in Iranian airspace. If you do not depart our airspace we will launch interceptor aircraft!”
Pilot: “This is a United States Marine Corps F/A-18 fighter. Send ‘em up, I’ll wait!”
Iranian Air Defense Radar: (no response … total silence)
As the economic signs grow ever more grim, so do the problems facing the incoming Obama administration.
That's one way of looking at things. Here's another:
As the economic signs grow ever more grim, the opportunities for the Obama administration to drive through its agenda actually are getting better.
The most notable feature of the budget is its fundamental reordering of the role of government. In the fiscal year starting in October. Obama wants to spend a 10-year total of $630 billion for a downpayment on a government takeover of the healthcare system, green the nation’s energy economy, make college education an entitlement and otherwise heavily involve the federal government in education system.
Dear Dr. Hankamer:
Thank you for contacting my office regarding the ongoing economic crisis and the federal government's response. I appreciate your taking the time to share your concerns with me.
The United States is facing an economic crisis that is causing American families to fall behind. Communities are being hard hit by home foreclosures, failing businesses, and job losses that are almost unprecedented in recent history. As your U.S. Senator, I am committed to supporting policies that will help end the economic crisis and will help restore basic fairness for all Americans.
It is for this reason that I supported the bi-partisan American Recovery and Reinvestment Act of 2009 (H.R. 1). This economic recovery package is designed to swiftly drive money into our struggling economy. With help for struggling families, meaningful tax cuts and concentrated funding on key infrastructure programs, I am hopeful that this responsibly-crafted legislation will create millions of new jobs and begin immediately to restore America's economic strength.
As one of those who were concerned with many aspects of the original proposal, I was pleased to work with colleagues from both sides of the aisle to put this plan into place within a set of targeted parameters for economic renewal. My Senate colleagues and I focused on programs to help families struggling under today's serious economic downturn, on shovel-ready infrastructure and public works projects, and on addressing the housing crisis. I am pleased that we were able to remove almost $100 billion in spending from the original proposal.
The American Recovery and Reinvestment Act also contains tax cuts for families and businesses, provisions to help unemployed Americans keep their health care and find new employment, and provides aid to help the most vulnerable. While this legislation is an important step, other measures must be adopted to restore the health of our economy. These include appropriate reforms of our banking and financial systems, tax fairness, and measures to place the nation on a long-term path to fiscal responsibility.
I appreciate hearing from my constituents. Your correspondence helps me serve you better in the Senate. I hope that you will continue to share your views with me and my staff in the years ahead.
I would also invite you to visit my website at www.webb.senate.gov for regular updates about my activities and positions on matters that are important to Virginia and our nation.
Thank you once again for contacting my office.
Sincerely,
Jim Webb
United States Senator
Obama's appointee as Treasury Secretary, Timothy Geithner, turns out not to have paid all of his taxes.
Tom Daschle had a $100,000 tax problem, which caused him to forfeit his nomination as Secretary of Health and Human Services.
Rep. Charles Rangel, D-NY, faces too many scandals to count, from tax problems, to real estate questions, to an interest-group-funded Caribbean junket that violated House ethics rules.
Sen. Christopher Dodd, D-CT, had sweetheart loans from Countrywide Mortgage -- a subprime lender under the jurisdiction of the Senate Banking Committee, which he chairs.
It’s the damndest thing… one minute you’re in the land of the free, brave and capitalist…the next, in the words of the now famous Newsweek cover, we’re all socialists now.
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Pillory big business, tax anyone making more than you do, redistribute assets, toss in a little protectionist rhetoric… this is the change we’ve been waiting for? My parents got this change back in the early 1930’s and it led to another depression in the late 1930’s.
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President Obama has spent the past couple of weeks explaining that the sky is falling. Tuesday night during his Not-a-State-of-the-Union Address to the nation, he sounded more hopeful and optimistic. This is because polls, pundits and now advisors are telling him that he can’t be President Eeyore anymore.