A Small Business Owner Responds to Paul Krugman, Nobel Ignoramus.
Paul Krugman, the Nobel Ignoramus, recently wrote a column for the New York Times entitled, "The Angry Rich." According to Krugman wealthy people are angry because money to which they feel “entitled” is being taken away. Krugman is outing himself as a socialist by admitting publicly that he considers the idea of wanting to keep more of your own money an “entitlement.” Radical leftists lie and distort to incite class envy. They call it “greedy” to want to keep money that you earned, but it’s not greedy to demand that government steal it from you and redistribute it to those who never earned it. That’s an interesting interpretation of “greed.”
Krugman forgets to tell his readers that this "angry minority" pays the "disproportionate majority" of the taxes. The top 1% of earners pays almost 40% of all income taxes. The top 5% pays 70% of taxes. The top 25% pays almost 100% of taxes. Damn right the rich are angry. It’s always easy to vote for tax increases on someone else- especially when it gets redistributed to you.
Yes, we’re angry. We are tired of being scapegoats and punching bags. We are tired of politicians taking our hard-earned money and wasting it on bloated government spending; more government employees who receive guaranteed jobs and obscene pensions for life; unnecessary wars; vote-buying earmarks; corrupt bailouts to campaign contributors; and trillion dollar handouts described as stimulus.
Krugman reports that these are desperate times for people who have lost their jobs or homes. This is true. But who will create the jobs to help all these people? Assuming they still have the money- small business. Entrepreneurs who pursue the "American Dream” do so by creating businesses, creating jobs, and spending money on equipment and raw materials. They make their employees and the employees of the places they buy from, rich too. How many millionaires did Google, Cisco, Apple, and Microsoft mint? How much money did their employees spend? How many Americans were enriched by all this success?
Krugman says “real” rage and suffering isn’t found among the rich. In his socialist mind it’s only found among the poor. Well Mr. Krugman, my friends are mostly small business owners. They aren’t rich like your limo-driving, private jet-flying, Gucci-wearing, leftist, New York Times readers. My friends are “working rich.” And they are suffering in record numbers. They are losing their executive jobs, never to find another. They are struggling to make payrolls, so their employees can pay the mortgage- while they themselves forgo a paycheck. They are losing their small businesses, along with everything they’ve worked years to build. They are spending their retirement money on their own survival, or their children’s college education. They are desperate- you just don’t notice up there on the top floors of the New York Times.
This is precisely why there are no jobs- “the working rich” are in trouble, under siege and being squeezed by the economy and government. And as long as people like Mr. Krugman are in power, there will be no new jobs. The truth is socialists like Obama and Krugman wouldn’t know how to create a job, if it hit them in the face. The only way they know how to create jobs is by taking $40 million from taxpayers’ pockets to create twenty temporary jobs at a cost of $2 million each. Thank goodness we have Nobel Prize winners like Krugman and Obama to save us.
It’s small business owners earning $250,000 to $500,000, not the titans on Wall Street, who will be hit by Obama’s gigantic tax increases. Yet Obama and his leftist cronies chose to bailout Wall Street and give sweetheart deals to the big shot execs at AIG, Goldman Sachs, and GM. It’s no coincidence that Obama was the biggest beneficiary of their campaign contributions. During all this time, Obama did nothing for small business. Now Krugman and Obama demand higher taxes on “the rich” and use Wall Street titans as the scapegoat to hide who will really be paying the tab.
Krugman denigrates and taunts people who make $250,000 to $500,000. “They can afford higher taxes” is his leftist chant. But take another $50,000 in taxes from a family making $400,000 and you've just put two of their employees making $30,000 a year directly in the unemployment line. You'll spend about $400 a week in unemployment insurance for the next 99 weeks for each of those employees, for a net loss to the government of $30,000 or so. That kind of economic model only works in books written by Karl Marx, and taught by Nobel Ignoramus Prize winners.
Krugman calls the rich in America “the world’s luckiest people.” Are you joking? The majority of the rich you are referring to, toil at their small businesses 60+ hours a week, sacrificing family and quality of life. Unlike government employees, they have no short workdays, no 3-day weekends, no summers off, no guaranteed jobs for life, no bloated pensions.
These heroes of the business world that Krugman derisively calls “rich” and “greedy” took on hundreds of thousands of dollars in debt to fund their educations, then risked hundreds of thousands more to start their small businesses. Their reward for all this hard-work, sacrifice and risk-taking from socialists like Obama and Krugman? A greedy government that demands more and more in return for…nothing. Sorry Mr Krugman, I don’t need partners like that. Usually partners like that are called organized crime.
Mr. Krugman says the rich aren’t willing to sacrifice. Not true. The rich are willing to sacrifice, but they are not willing to be sacrificed, while the American Dream is forever destroyed.
Krugman says the rich are angry and out for revenge. Well that’s not hard to understand when a productive minority of risk-takers and job creators is being lynched by a dysfunctional group of socialists that believes keeping some of your own money is an "entitlement." Soon we intend to insure that Nobel Ignoramus socialists like Krugman and Obama and are never again allowed anywhere near the American economy.
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The Reagan Libertarian Contract with America
A Detailed and Specific Plan to Save the U.S. Economy
“If you analyze it I believe the very heart and soul of conservatism is libertarianism.”
-- Ronald Reagan
I am a proud Reagan Libertarian. Ronald Reagan turned the worst economic slump since the Great Depression into the greatest economic turnaround and expansion in world history with one simple stroke of genius -- the largest tax cut in U.S. history (ultimately reducing top marginal tax rates from 70% down to 28%). That tax cut benefited and motivated the groups that produce virtually all of the jobs and tax revenues in America -- small business owners and taxpayers. These are the very groups that President Obama chooses to punish, instead of reward. Obama redistributes money from taxpayers and small business owners to his voters -- who create virtually nothing, pay almost no taxes, create no jobs, and ask for handouts and entitlements from cradle to grave. In short, Obama’s voters are bankrupting this once great country. This is precisely why the U.S. economy has fallen off a cliff. We are staring at the abyss -- economic Armageddon, chronic massive unemployment, and worldwide depression. It is time for dramatic measures to stave off disaster, deficit, debt and depression.
It is time for a Reagan Libertarian Contract with America, a daring plan aimed squarely at motivating entrepreneurs, small business owners, and taxpayers. These are the people who risk, invest and build America. Without their cooperation, motivation, and success, there can be no recovery. This daring plan is the polar opposite of the Obama socialist plan. But unlike Republican plans, it places equal importance on limiting the size of government, shrinking spending, and limiting the power of politicians, as opposed to simply cutting taxes.
Can it be done? Look south to communist Cuba to see Raul Castro cutting 500,000 government employees, with a promise to cut 500,000 more. Castro is privatizing vast swaths of government and encouraging Cubans dependent on communism and big government to find a private sector job, or start a small business. Even communists are getting the message that desperate times call for daring measures (and a dramatic change in strategy).
Or look north to our neighbor Canada, which in the late 1990’s stared down economic disaster and debt, and pulled off an economic miracle with both spending cuts and tax cuts. Canadians turned a large deficit that threatened to destroy their economy and credibility into a budget surplus. If Cuba can do it…if Canada can do it…the greatest nation in world history can do it bigger and quicker.
Here is the 20-point Reagan Libertarian Contract with America:
#1) One-Year Income Tax Vacation -- Award every taxpayer in this country a one-year income tax vacation. This plan costs about the same $1 Trillion that Obama spent on his failed Stimulus-to-nowhere. But watch this version of stimulus turn a bust to boom as taxpayers and entrepreneurial risk-takers invest record sums, now sitting on the sidelines, into business creation and expansion, stocks and real estate- thereby creating a jobs explosion.
#2) Welcome taxpayers back from the income tax vacation with a permanent and simple Flat Income Tax, combined with zero Capital Gains tax. This emulates the most successful economy in the world- Hong Kong. Start the flat tax at 20%, to be reduced to 15% when the budget deficit is reduced to no more than 3% of GDP. This combination will stimulate and reward risk-takers and small business innovators, thereby creating millions of new jobs.
#3) Offer “angel investors” a New Investment Tax Credit. Investors would receive dollar for dollar tax credits up to $100,000 for investments in IPO’s, secondary offerings, startups, and new real estate developments. This would stimulate the economy by rewarding entrepreneurship and job creation. Two of every three new jobs are created by small business. But almost 100% of these jobs come from business startups.
#4) Suspend the Employer Payroll Tax for two years. Small business needs a break. Give them two years without having to pay for the payroll taxes of their employees. The savings will be invested in new job creation, expansion of a business, a new startup, or capital improvements. Millions of new jobs will be created overnight.
#5) Cut the corporate income tax rate from 35% (currently 2nd highest in industrialized world) to a flat 15%...but in order to pay for it, eliminate all corporate welfare. We should support free market capitalism -- not a crony capitalist government that picks winners and losers, and awards favors, subsidies, and sweetheart deals to the biggest campaign contributors.
#6) Turn illegal immigration from a cost to a benefit. First, secure the borders with a combination of virtual technology and greatly enhanced border security. Then offer INSTANT CITIZENSHIP for any immigrant in the world that brings $250,000 or more to invest in a U.S. home or business within six months of arrival. This brings tremendous wealth to America; creates millions of new jobs; ends the real estate, foreclosure and banking crisis; and brings in new employers and employees to resolve the Social Security crisis.
#7) Social Security, Medicare and Medicaid are eating up the entire U.S. budget. They will single-handedly destroy the U.S. economy within twenty years. Social Security can be secured and the debt reigned in with an immediate rise in the age of retirement to age 68 for anyone younger than 55…and within five years raise the age of retirement again to age 70. This phase-in secures Social Security without raising taxes.
#7a) Combine this age raise with a Partial Privatization of Social Security for younger workers. This gives younger Americans ownership of their own retirement accounts. Upon death, it belongs to their family.
#7b) Convert Medicare & Medicaid into block grants and hand the entire budgets to the states. Let each state offer higher deductibles and incentives for recipients to save money on medical care. States get to keep the savings. This will turn the states into competitors, fostering competition to attract new residents and taxpayers.
#8) Legalize, regulate & tax online gaming and medical marijuana -- raising almost $300 Billion over the next decade, directed to deficit reduction.
#9) Dramatically cut the size of government with an immediate freeze of all government hiring; freeze all salaries; and immediately cancel all cost of living raises and step-up raises. This freeze should stay in effect until the average compensation of government employees is equal to the private sector.
#10) Implement government employee pension reform by changing from defined benefit to defined contribution plans (just like a private sector 401k). This eliminates all debate over age of retirement for government employees and how government pensions are funded. It no longer matters, as the government is no longer responsible for funding their retirement.
#10a) Ban unionization of government employees, thereby eliminating collective bargaining. Government employees shouldn’t be squeezing taxpayers.
#11) Pass a Balanced Budget Amendment to the Constitution to take effect after the end of the Income Tax Vacation.
#12) To achieve a balanced budget, institute dramatic cuts in government spending -- 30% across the board cuts for all departments, no exceptions (including military and defense) phased in over 3 years (10% per year). After that, limit any increase in spending to population growth plus inflation.
#12a) Give the President the line item veto to carve additional waste out of each and every bill passed by Congress.
#13) Audit all federal agencies and programs to determine if they or their spending are Constitutional. This would automatically result in the banning of TARP, stimulus and bailouts FOREVER.
#14) End the Iraq and Afghanistan wars -- that includes bringing home the 50,000 troops remaining in Iraq presently.
#14a) Demand Congress issue a formal declaration of war before fighting any future wars (unless responding in self-defense). This would reduce the likelihood of future wars, thereby saving taxpayers billions in potential deficit spending.
#14b) Phase out ALL foreign aid by cutting out 10% per year for 10 years -- thereby giving all our allies time to prepare.
#14c) Dramatically cut the number of military bases across the globe -- specifically Japan, Germany and South Korea. It is time for our rich friends to pay their own way.
#15) Repeal Universal Healthcare, institute Tort Reform, expand freedom of consumer choice (allowing consumers to buy across state lines), and expand HSAs (Health Savings accounts). Make all health costs -- including insurance -- 100% tax deductible.
#16) Education -- Eliminate the Department of Education, redirect the funds to the state and local level. Ban unionization of teachers. End tenure -- job security and compensation must be based on performance. Encourage school choice, parental freedom, and vouchers at the state and local level. A well-educated country is essential to the economic future of America. Teachers unions have damaged education almost beyond repair.
#17) Energy -- Encourage unlimited offshore drilling to dramatically lessen our dependence on foreign oil. But in return for unlimited drilling, end all special tax breaks and subsidies to the oil industry.
17a) Have the U.S. Government offer a $27 Billion prize to the company or companies that find an economical, domestically-sourced replacement for fossil fuel. The amount of this prize is roughly equal to the annual budget of the Department of Energy. By offering a prize for performance and closing down this agency, we save the taxpayers tens of billions in future spending. And once a company succeeds and claims the prize, we eliminate the motivation of going to war to secure access to foreign oil. This “open source problem solving” should be used to solve many of the biggest challenges facing our country.
#18) Perhaps most importantly, LIMIT THE POWER OF CONGRESS:
a) Limit all members of Congress to two terms.
b) Limit the amount of time Congress can meet to only four months per year. The less time they have to create more laws, the less damage they can do to the American people and the U.S. economy.
c) Limit Congress to passing only bills that are PROVEN constitutional (Enumerated Powers Act).
d) Place a three-year moratorium on passing any new rules, regulations or mandates on the American people or American business.
e) Immediately ban Congress from hiring staff with outstanding tax debts or liens. If the people that run the country can’t pay their tax bills, they have no right to ask us to pay ours.
f) Require that all bills be read out loud in front of a fully assembled Congress before voting on them. This will put an end to 2,000 page laws that no member of Congress ever reads, but all Americans are required to follow.
g) Post all bills online at least four weeks for public vetting before voting on them.
h) Mandate that all bills passed by Congress also apply to members of Congress.
i) Allow the legislatures of two-thirds of all states to overturn any Federal law or regulation. It’s time to provide states with a check on a runaway Congress.
#19) Forever ban the word “czar” from our government’s vocabulary. No President should ever be able to hire cabinet level executives without vetting and approval by Congress.
#20) Audit the Fed, then aim to eliminate this unaccountable organization that has done such damage to the U.S. economy.
This 20-point "Reagan Libertarian Contract with America" will put the U.S. economy back on solid ground. It will create millions of jobs- just as Reagan’s tax cut did in the 1980’s. It restores economic freedom. It rewards entrepreneurship. It stimulates small business. It limits the power of government- just as the Constitution demands. It proves that Libertarianism is the very heart and soul of conservatism. Ronald Reagan would be proud.
The author of the Reagan Libertarian Contract with America is Wayne Allyn Root, the 2008 Libertarian Vice Presidential Nominee. Wayne is Chairman of the Libertarian National Congressional Committee. His new paperback will be released next month, “The Conscience of a Libertarian: Empowering the Citizen Revolution with GOD, GUNS, GOLD & TAX CUTS.” His web site: www.ROOTforAmerica.com.
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Citizen Revolution- One Nation Under Tea Party Revolt!
The Peasants With Pitchforks are Coming.
Obama continues to name Czars without any vetting or confirmation from Congress. His latest Czar – appointed only days ago -- was the “Asian Carp Czar.” I’m not kidding (I wish I were). Well if Obama thinks his unaccountable executives are “czars,” then King Obama and Queen Michelle must consider the rest of us serfs and peasants. But there’s a hitch in this scenario. When peasants with pitchforks decide to revolt, it usually doesn’t end well for the ruling class.
When I wrote my book, “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gambling & Tax Cuts,” I predicted that Obama’s radical Marxist agenda would lead to a citizen revolution, the likes of which had not been seen in this country since 1776. I predicted that this revolution to take back our country would be led by a coalition of Libertarians, conservatives, disgruntled Republicans, independents, taxpayers, small business owners, gun owners, patriots, and Christians. That revolution now has a name: The Tea Party.
And who are these new revolutionaries? Many of them are reenacting the ‘60’s revolution. They have evolved from peace and pot to pitchforks…from tie die to torches…from denim to deficit and debt…and from communes to condos. Today the Holy Grail isn’t Woodstock, it’s Washington. Why the change? It's called financial responsibility. The “me generation” is now all about THE GRANDCHILDREN. And the same people who changed the world in the ‘60’s with their passion and enthusiasm are about to change the world again.
The remarkable Tea Party victories on Tuesday night are yet more proof this is not business as usual. Entrenched incumbents and establishment D.C. insiders are being swept away like debris in a tsunami. Most importantly, it isn’t only liberal Democrat scalps the Tea Party is taking. At the top of the list are the enablers- big government RINOS (Republicans in name only). Exhibit A is Michael Castle. The longtime Delaware Republican Congressman is normally the kind of GOP insider that survives times of voter unrest. Political insiders like Castle have always known how to turn on the charm, raise lots of money, and use that money on advertising campaigns to convince voters that “next time” they’ll vote with the people. It’s always “next time.” Except for Castle there will be no more next times. This citizen revolution sent Castle to the unemployment line. Don’t let the door hit you on the way out Mike.
Castle is a RINO who votes gave bi-partisan cover to big government expansion and an ever-expanding welfare state. Castle was the exact type of Republican fraud who through his compromise and “bi-partisanship” (see SELLOUT) made fiscal conservatives and free-market Libertarians fighting for the survival of our children and grandchildren appear as “extremists, radicals and nutcases.” The reality is the extremists are those who have bankrupted our once great country and left us with over $100 Trillion in debt and unfunded liabilities.
It is the so-called “bi-partisan moderates” that have sold out our children’s future- saddling them with unsustainable deficit and debt for decades to come, in order to bring home the bacon to their districts today. GOP Rinos such as Castle and “blue dog Democrats” such as Nebraska’s Ben Nelson are the problem, not the solution. How can you be a “blue dog” when you vote for bigger government, universal healthcare, cap and trade, stimulus, bailouts, earmarks, and financial reform bills that demand banks give out small business loans based on affirmative action? How can you be a patriot and demand “Cornhusker kickbacks?”
In the end I’m rooting (excuse the pun) for V.E.T.O. -- Vote Everyone of Them Out. Republicans, Democrats, lawyers, lobbyists, union bosses, D.C. political insiders and incumbents of all stripes -- it’s time to clean house and throw all the bums out. If America is to be saved, it’s necessary to throw out both the socialist, entitlement-addicted Democrats and the establishment Republican enablers like Mike Castle, Charlie Crist, Rick Lazio, Lisa Murkowski, and Bob Bennett. The debt and deception stops here -- with the Tea Party.
The Tea Party candidates have been successful in primaries because they have been singularly focused on the most important and pressing issues our country faces today: the economy, jobs, government spending, government employees, and the unchecked growth of the deficit and debt. These issues should have been Obama's only priority. Instead, we got a healthcare bill that will ultimately bankrupt the country, more government employees, and a stimulus that only stimulated the ratings of Rush Limbaugh and Fox News. But wait, Obama isn’t done yet. He still has card check (unionize the entire nation) and cap and trade to ram through in the lame duck session of Congress after he’s lost in a landslide. And you wonder why the people are angry?
The peasants have awoken from a long slumber. The time for excuses and promises is over. All that is left is for the winners in November to deliver -- shrink government, cut government employees and pensions (as Cuba is busy doing right now), dramatically lower the deficit and debt, and dramatically reduce spending, while lowering taxes (as Canada has done for the past decade). Deliver or the Tea Party promises to throw this class of bums out just like the last one … and they’ll be patriots for doing so. As Thomas Jefferson once wrote, “a little rebellion, now and then, is a good thing…It is a medicine necessary for the sound health of government.”
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Is Obama Smarter Than a Communist?
America loves the hit TV show “Are You Smarter Than a 5th Grader?” That inspired me to ask “Is Obama smarter than a communist?” Raul Castro, the leader of communist Cuba, just announced that Cuba is laying off 500,000 government employees. Bravo! It’s about time. Cuba is finally reforming their economy and headed in the direction of capitalism. Like China and the Soviet Union before it, Communist Cuba has finally figured out that everyone cannot work for government- at least not if you want your people to prosper, or your economy to avoid insolvency and bankruptcy.
I only wish we could say the same for America. Incredibly, President Obama is headed in the opposite direction. Under Comrade Obama, America is expanding the number of government employees and the size of the welfare state. Obama must not have noticed that after years of government control of the economy Cuba is an economic basket case, with its citizens living in abject poverty and misery. If he has noticed- and it’s kind of hard to miss- then why is Obama aiming America towards this disastrous Cuban model? Is it purposeful? Or pure idiocy, arrogance and ignorance?
Let’s compare Communist Castro’s economic ideas to our own leader, Comrade Obama’s:
While Communist Castro admits that having the government do more to control the economy and create jobs is a horrendous failure, our very own Comrade Obama has added over $4 trillion in debt to grow government, reward his Democratic cronies (with stimulus and bailouts), and control the economy to “create and save jobs.” Castro can only sit in stunned silence as Obama makes the same mistakes that ruined Cuba's economy and left his citizens in poverty and misery.
While Castro explains his cuts of government employees by saying “We can’t keep supporting inflated payrolls”, and is now encouraging entrepreneurship, small business creation and capitalist reforms, Comrade Obama steals from future generations to save government jobs, hire more government employees, and preserve the obscene raises, pensions and benefits of government employees (that are 70% higher than comparable jobs in the private sector). Only days ago Obama spent $26 billion more to save teacher union jobs for the very people that are presiding over the disastrous failure of government-run education. Where does Obama get the money to pay for all these government employees? By redistributing income from private sector taxpayers who are losing their jobs and small businesses due to Obama’s oppressive regulatory and tax burdens. Don’t forget that Obama exempted only one group from the rules, regulations, and taxes of Obamacare - government employees! Castro is shaking his head in disbelief.
Communist Castro is busy privatizing businesses - giving taxi licenses to entrepreneurs, giving land to free market farmers, and selling government-run barber shops to small business risk-takers. Communists are embracing free enterprise, free markets, entrepreneurship, small business creation, and fiscal conservatism. Meanwhile, Obama is busy punishing and micro-managing banks, Wall Street, and credit card companies, while orchestrating government takeovers of healthcare, automakers, student loans, manufacturing (through cap and trade), and everything else he can grab through Chicago-style intimidation and communist goon tactics. Castro can only shake his head at the tragic mistakes being made.
Communist Castro says, “Stop expecting too much from government.” He hints that there will be even more economic reform- perhaps ending or cutting back on government subsidies for housing, transportation and food. Meanwhile our Comrade Obama asks government to provide ever more- from student loans, to lifelong free healthcare, to asking government to subsidize delinquent homeowners. Under Obama we see record increases in Americans accepting welfare, food stamps, and free breakfasts and lunches at school. Castro is mortified- he already knows where heavy-handed government control leads.
Communist Castro says the free lunch for Cuban workers is over. He speaks of government employees who do little or nothing all day. From now on Castro says, “Workers will be paid according to results.” While Castro understands this is the only way to bring prosperity to his people, Obama is hiring more government employees to stand around and do nothing, while he supports government employee union demands for lifetime jobs, early retirement, and obscene pensions- none of which are available in the private sector. Hand in hand with his shameful bias towards government employees, Obama keeps extending unemployment benefits towards infinity. Why not? Afterall, next to government employees, Obama’s most loyal voting bloc is Americans receiving handouts from government.
Communist Castro is firing his Czars, while Obama names a new one on a daily basis- including only days ago, “The Asian Carp Czar” (No, this is not a joke). Did you ever think we’d see the day where Castro is shocked at the size of America’s government?
While Communist Castro says, “We must increase the number of jobs where Cubans can go into business for themselves,” Obama is punishing entrepreneurs and small business creators with gigantic income tax increases, healthcare taxes, capital gains taxes, dividend and savings taxes, and any other taxes he can dream up (such as a new VAT tax and possible new raises in FICA taxes for the self employed). It’s all enough to make Fidel Castro get up off his deathbed to shout “Viva La Revolucion!”
Communist Castro knows from experience why we have no new jobs in America. While Cuba moves away from communism with capitalist-style reforms, Obama leads America away from capitalism and towards Fidel Castro’s utopia of starvation, deprivation, levels of poverty never imagined in America (not yet anyway), and of donkeys pulling broken-down carts on the streets of Havana.
I can only conclude that Obama is NOT smarter than a communist. Communists at least learn from their mistakes. And if Obama isn’t smarter than a communist, then he’s most certainly not as smart as a 5th grader either.
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A Small Businessman’s Urgent Plea to Obama: Please Play More Golf and Take More Vacations!
We are in midst of an economic Armageddon. For months I have described it as “The Great Depression II.” The politicians that run our country and economy are useless idiots -- although some might find that comparison offensive to useless idiots. Each move they make, the economy gets worse. Each dollar they spend to “save the economy” results in more economic decline, fewer jobs, and lower tax revenues. No coincidence.
Speaking of useless idiots, enter Joe Biden. As job reports get bleaker and businesses fail by the thousands each month, Vice President Biden repeats endlessly, like a Stepford wife, that the stimulus is working just fine and has “saved” and created millions of jobs. Perhaps Biden believes if you repeat a lie enough times, it becomes the truth. Or at least you keep your job as Vice President.
Obama repeats endlessly that it’s Bush’s fault, even though we have lost millions of jobs, while adding over $4 trillion to the nation’s debt since Obama become CEO of the economy. Recently the nation’s debt increased by more in one day than the entire annual deficit in 2007. I am no fan of the wars in Iraq and Afghanistan, but according to the Congressional Budget Office, Obama’s one-time stimulus program enacted during his first month of office cost $100 billion more than the entire 8-year Iraq war.
Then there’s Ben Bernanke- the hopeless, hapless, clueless Fed Chair who should be CEO of the Keystone Cops. He never saw the recession coming, then denied it existed, then announced it was over, then denied we could experience a double dip recession, and now acknowledges that the economy is deteriorating so rapidly the Fed might need to intervene to prevent a double dip. If I didn’t know better, I’d swear our Fed Chief had morphed into Sgt. Schultz on “Hogan’s Heroes” responding to every question with, “I see nothing!” This useless idiot spends so much time in denial, you’d swear the Great Recession was hiding in the Witness Protection Program.
What we have is an incompetent Fed Chief, working for a Stepford-wife Vice President, working for a detached, golf-playing President, who bases his economic plans on the wisdom of Karl Marx. It is a deadly combination for the American economy.
But are they useless idiots, or is this a plan? As I’ve written before, I believe that Obama’s goal is to purposely overwhelm the economy, pile up debt to the point of collapse, redistribute wealth, and fatally damage capitalism. This plan has given government the opportunity to take over vast swaths of the economy (automakers, healthcare, banking, student loans), and made historic numbers of Americans dependent on government assistance and government jobs. Enter Socialism from Stage Left.
How do we know this is a purposeful plan? Because no one could be so ignorant of basic economics and business to not know the following:
*Redistributing money from one group (small business owners, taxpayers and job creators) to hand it to your Democratic voters doesn’t improve GDP or create jobs -- it destroys them.
*Extending jobless benefits endlessly doesn’t create jobs. It guarantees that those who pay the bill (small business owners) will not create a single job, while those receiving the benefits have no urgency to look for one.
*Handing billions of dollars out in “Stimulus” and bailouts to government employee unions and Democratic campaign contributors doesn’t fix an economy. It just makes millionaires out of your cronies.
*Spending $26 billion to protect government employee union jobs doesn’t help the economy recover. It just adds $26 billion more to the national debt, and makes our children’s future even bleaker.
*Asking the Fed to create endless fake debt-based money has never created a single real job.
*The largest tax increase in history that takes effect on January 1st will not increase tax revenues -- it will cause small business failures, lower consumer spending, and put millions more in the unemployment line.
*The financial reform bill demanding “affirmative action” loans to minority small businesses puts the entire economy at risk. Isn’t this the same requirement Congress imposed on banks that resulted in sub-prime home loans leading to the collapse of the real estate market?
*The multi-trillion dollar Universal Healthcare bill won’t help the economy recover, but it will raise all of our healthcare costs and taxes. The cap and trade bill they so desperately want to pass will double or triple our utility and gas bills. The moratorium on oil drilling has cost 100,000 jobs. Could any President be this ignorant or reckless by mistake?
Critics are complaining that Obama spends too much time playing golf and taking vacations. But I see a solution to our economic crisis. Please, Mr. President, stay on vacation and away from the economy. Perhaps you could explore the far reaches of Siberia or Antarctica? How about a safari in South Africa? Or better yet, tee it up night and day Mr. President. Don’t be guilty. We desperately need you to develop your inner game of golf. Name Tiger Woods your Golf Czar. Work on your putting stroke. Get that handicap down to zero. Practice makes perfect. Play 36 holes every day- minimum. The more time you spend on the links, the less time you have to think about Karl Marx. As your golf score goes down, the U.S. economy can only go up.
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