Trouble for the Auto Industry Bailout

Reports indicate that there is less confidence that the auto indusrty bailout will be passed. Many Republicans and some Democrats question whether the bailout bill will use taxpayer's dollars effectively. The Bloomberg article Democrats Back Off Prediction of Automaker Bailout Approval describes the latest version of the bill.

The Democratic proposal would let the president appoint a so-called car czar to oversee industry restructuring, and give taxpayers stock warrants equal to 20 percent of the loans. It would prohibit the automakers from paying dividends and owning or leasing corporate jets, and pay and bonuses would be limited.

This, however, does not address the inherent problems with these businesses. Preventing the "paying dividends and owning or leasing corporate jets, and pay and bonuses" addresses none of the major problems with these companies. A limit on excesses misses the basic fact that these are failed companies, who can't garner loans from anyone other than Congress. The only check or change that this bill implements is 'a car czar'; the powers of which Chairman Barney Frank tried to explain...

‘Head-Knocking’

Frank told reporters today the bill would give the car czar “a great deal of head-knocking ability” with “a lot of the powers that you would get in bankruptcy.”

The official would have the power to veto participating automakers’ plans to invest abroad, Frank said. Lawmakers want to ensure the companies don’t “take American taxpayer dollars and expand in other countries rather than here, or shut down a plant in America while expanding a plant elsewhere,” he said.

Because Bush and President-elect Barack Obama are unlikely to agree on a czar, Obama will likely replace Bush’s pick as soon as he takes office, Frank said. The Bush administration has said the official should come from the Commerce Department.

So this 'car czar' a likely member of the Commerce Department will be apparently appointed by President Bush then replaced by the future President Obama, and he shall be granted 'head knocking abilities'.

Chairman Frank went on to state that the auto industry will likely need to be granted more money in the future, something Speaker Pelosi has also stated. This does not instill confidence that this bailout will be anything but a waste of money.

A few basic questions for lawmakers...

How will this money fix the failed business policies of the auto industry?

How many bailouts and/or how much money will be paid to the automakers total?

What's wrong with bankruptcy?

What are the requirements for being granted a government bailout?

This is still not an rational solution. Ask your representatives not to support this bailout bill, and make them at least answer the basic question, 'how will this money fix the problems that the auto industry faces?'

Contact Your Senator

Contact Your Congressman

---

Continued Problems with the Automaker Bailout

New Blogs etc

I started blogging this election cycle as a way to support Senator McCain for President. Now that race has ended, I'm interested in blogging at different sites for different purposes. I will continue my original site Broad Side of the Barn as a light hearted site with some useful resources, however, it is in serious need of updating. Blog topics typically will fall under the heading of internet or politics, but other topics will be addressed as well. Some of these sites are derivatives of ones set up during the election, many of them still need significant work. Here are the blogs I plan on posting to and developing at this time. Thank you for visiting.

Experimental Blogging	Trial and Error Site
States	Local Theme
Surround the Web	Random
Purple People Vote	The old version Purple People Vote
Divied Up	Random
Cracked Back	Random
Linked the Web	Random
Web Driven	Web Topics
U.S. Independent	Politics - Independent
Circle the Web	Random
Blog Gobbers	Fun / Random
Practical 1 Politics	Politics
More Pols	Politics
Independent Voters	Politics
Local Republican Races	Politics...only if contributors want it to continue
Indie-Site	Politics / Independent
McCain Blogger Resources	Internet? - Form? - Maybe?
Battleground States 08	Politics
Web Inquiry	Internet
Independent Voters	Politics / Independent
Who Do I Vote For?	Politics
Round Four	Random
Broad Side of the Barn Store	Internet / Sales - Affiliate Programs
Change Candidates	Politics
Scienceless	Tech and Science Interest
Fiscally Conservative Socially Moderate Independents	Politics / Independent
BroadSideoftheBa...	Humor Random
The Online Volunteer	Philanthropy
Blue Collar Voters	Politics
Independent Voter Resource	Politics / Independent
Rambling Web	Philanthropy
In New Hampshire	NH Local

Here are a variety of other sites of interest. The Maine Tool Room, Dr. Dog Health Care, Blogs for Victory, USA.gov, Network for Good, The Red Cross, The Smithsonian, Zannel, AARA News Service, Real Clear Politics, Joe Lieberman, Righty Blogs

No Bailout Please

RedState.com has posted a couple pieces on opposing the government bailout of the auto industry. The first by Representative Michele Bachmann opposes not just the auto bailout, but the concept that Washington should be spending tax payer money to prop up failed businesses. The second article by Francis Cianfrocca discusses how contract renegotiations with the United Auto Workers union need to be included any proposed bailout as failure to so will result in the eventual failure of those companies with or without a bailout. Excerpts below.

One main reason the auto bailout is facing such opposition is that there has been no attempt to explain why pumping money into a failed business will fix that business. If these company continue on their current path this bailout will simply prolong the time before before failure, and will result in simply wasting a huge sum of tax payer dollars.

For those who oppose bailing out the auto industry, folllow the links below to contact your Senators and Congressmen to let them know that you do not support this bill, and that you will hold them responsible for wasting your money.

Contact Your Senator

Contact Your Congressman

---

No More Bailouts by Rep. Michele Bachmann

Washington needs to stop handing out your money like its Monopoly money. Each dollar is hard-earned and the men and woman who worked so hard for it deserve more respect from their government than to be treated like an ATM. Our economy grew strong on the backs of Main Street; from the ideas and sheer sweat of innovators and entrepreneurs flush with the American spirit. Risk-taking is part of that adventure. But when government guarantees against failure, risk and reward becomes meaningless. Eventually, that will crush our economy- and that eventually may not be that far down the road.

The Critical Missing Piece in the Automaker Bailout by Francis Cianfrocca

There will be no significant cost-cutting or pain imposed on the UAW in the restructuring of the domestic auto industry, unless it happens right now, this week.

The UAW must agree to a labor-cost structure that, in Sen. Corker’s words, is no higher than that faced by foreign (“transplant”) automakers who assemble vehicles in the United States. The union must agree to very painful concessions on wages, healthcare, work rules, and retiree benefits.

Gettelfinger, playing to the galleries, has assured lawmakers that he will indeed be open to doing whatever he can to seal the deal. Among other things, he’s signaled willingness to end the so-called “job bank.” You know, that’s where an automaker closes a production facility that no longer makes sense, but continues to pay the workers full wages and benefits to play video games all day, for years into the future.

But what Gettelfinger has pointedly not said, is that he’s willing to re-negotiate the contract that the UAW currently has with the automakers. In short, he’s not preparing to compromise at all, or to ask his people to take any real pain.

---

Oppose the Auto Bailout

Crack Pipes Being Sold in Convenience Stores

There are several reports of 'glass roses' which are used as crack pipes being sold in convenience stores around the country. The following report comes from Georgia Georgia Police Chief Suggests Ban on Glass ‘Rose’ Pipes

"Police Chief Dennis Bell of Arcade, Georgia, is asking lawmakers to ban the three-inch glass pipes with a fake rose inside, the Associated Press reports. Bell says the novelty items, sold in many convenience stores, masquerade as crack pipes.

Known as “The Rose,” the pipe has a piece of cork on one end with a flower in the center. Bell said he is hoping the other police chiefs in Jackson County and the local sheriff will join him in seeking legislation to outlaw the pipes, the newswire reports."

On the VH1 reality show 'Celebrity Rehab' they show former patient Seth Binzer going to the 'Corner Mini Mart' in Pasadena, California and buying a 'glass rose' for drug purposes. This is seen in the following clip...

The store in this clip is
Corner Market
342 E Orange Grove Blvd.
Pasadena, CA
(626) 792-5256

Crack Pipes Being Sold in Convenience Stores

Shades of Gray

Seeing a campaign up close this past election was an excellent learning experience. However, one of my biggest disappointments in viewing our current two party system is that there is little tolerance for anyone who breaks with the party line, and that appears to be the case for both parties. In real life it's fairly rare to come across people who wholly subscribe to one party's platform. However, in political circles it seems rare to find people who break with the party line. This is one of the major hang ups in making the government truly representative.

In each party's defense, it's the ideologues who participate and volunteer; so it makes sense that their views would be the most prevalent. However, there are a myriad of issues that are simply not black and white. In my case, I opposed the death penalty up until the Oklahoma City bombing. While I still would not categorize myself as pro-death penalty, that tragedy made me believe that there may be some circumstances where the death penalty is appropriate. I give this example, because I don't see this as a particularly abnormal or radical view, but it is one that is not represented by either party. Instead of issues receiving a full hearing, party politics often result in viewing issues as either black or white, when shades of gray often exist.

---

Shades of Gray

Sheridan Folger: Your Impact, Give Yourself A “Thank You”, I’m Giving You One.

Your Impact: Give Yourself A “Thank You”, I’m Giving You One.

I wanted to take the time to sincerely thank any and all of you out there that participated in this election cycle. I thank those that were with us from the start, those that joined us in the end and everyone in-between.

I am saving my comments and thoughts regarding the outcome of the election, the future of our cause etc for a later post. This is simply a straight forward THANK YOU.

(for the record when I say we throughout this post I’m talking about YOU!)

In the past two years I have been lucky enough to meet folks all across this nation from every conceivable ethnic background and walk of life. I’ve communicated with you via, phone, internet, TV, Radio and even in person. Overall I am better off for it.

Often throughout this process doubts were present. Doubts about our abilities, or focus,

Our agenda, our purpose, our impact and practically everything else. I can assure you from the bottom of my heart there is no doubt.

For those that questioned our impact and all of the aforementioned let me just give you a bit of info to digest.

Collectively we posted 345,621 blog posts. (related to the mccain campaign etc) That is the most accurate number I have (and trust me I’ve done my best to keep close track) however I am quite certain the number is higher. Our first month in operation we increased McCain’s over-all online presence by 524%. It never fell again. We had articles, stories etc picked up by the Main Stream Media, TV, Print and Radio etc that otherwise never would’ve appeared there. Often we completely took over tracking sites such as Technorati, Wonkosphere and several others . . .we retained a strong presence on all throughout.

THANK YOU.

Before we lost the ability to directly track our contributions (as of January of 2008) we had contributed $116,000.00 dollars directly to the McCain campaign. Since we only grew and put forth stronger numbers and efforts from that point on I can safely assume that number rose dramatically. We also raised $4309.64 for various conservative/republican candidates around the country directly through slatecard, Along with another $3625.00 for candidates above and beyond that.

THANK YOU.

Over 64,400 people from around the country clicked on our link to make phone calls on behalf of the campaign. Many of us held phone banks periodically in our homes, made calls on our own or went to HQ above and beyond that.

THANK YOU.

Many of us were interviewed by or asked to write for or speak to the Main Stream Media,

Including FOX news, NBC, CBS, Columbia News Journal, Medill News, Hundreds of collegiate and high school news services, MSNBC, CNN, ABC, Dozens and dozens of radio programs, the BBC (many times) and the list goes on and on.

THANK YOU.

When the campaign was low on resources WE WERE THERE. In the NH primary we literally put 500 boots on the ground. These volunteers did everything a paid campaign normally covers. We single handedly won the NH primary for McCain which of course resulted in his attaining the nomination of the party.

When McCain began the no surrender tour it was from our ranks he pulled the veterans and volunteers, many of us road on that tour with him when he need us.

THANK YOU.

We contributed THOUSANDS of dollars directly out of pocket to cover expenses of our efforts, to help others etc. (I will not give the dollar amounts to protect those that wish to remain private etc).

THANK YOU.

We traveled around the country to battleground areas and areas in desperate need of additional support, typically on our own dime.

THANK YOU.

When the campaign was lacking in signage we took up the cause. We raised money for signs around the country. We shipped over 3000 signs in a two month period to states, areas that needed them. We shipped them in most cases without charging the receiving party. Often we even covered the shipping charges. Not including all of the stickers, hats and pins we sent out.

The campaign on numerous occasions implemented ‘our’ ideas and took ‘our’ advice.

(had they done it a lil’ more often perhaps we would’ve won . . . lol)

We also ran 21 Television commercials in KEY battleground areas around the country thanks to direct donations from YOU!

THANK YOU.

We created ‘groups’ in every state on facebook, google and other platforms. (over 800 affiliated groups, most set up by us directly!) From these groups 15 individuals were directly hired by the campaign (several others had offers and turned them down, but continued to volunteer anyhow!). Of those 15 directly hired 2 were at our request, 8 at our suggestion. One of these folks became part of McCain’s official personal advance team another one of Sarah Palin’s handlers.

The google groups (which ended with 745 members) were utilized directly by the McCain campaign for several months and we received several written messages thanking us for that use and the amazing results they achieved when using them. Often they found their ‘area’ leaders or boots on the ground folks directly from those groups. They stated that they always had a positive response and that every time they reached out via that avenue those folks ALWAYS showed up for them.

THANK YOU.

We had an amazing force of numbers and effort. Our contact list grew to over 700,000 during the course of this campaign. AMAZING! That is just staggering! That is from members of our various sites/blogs/groups/subscriptions etc. Millions upon millions of ‘hits’ and ‘visits’ to our sites,blogs,platforms. Hundreds of thousands of readers (sometimes for one blog). . . you truly reached the masses my friends.

THANK YOU.

Now I could go on and on boring you with details and numbers but I won’t. I just wanted to make sure you had at least a slight idea of the tremendous impact you had. We may not have won, but ultimately our accomplishment was astounding. We impacted the process. We insisted our voice be heard and succeeded. NEVER forget that.

The ‘battle’ may be over however the war rages on. The war for the heart and soul of our country has begun. Don’t start whispering now, do not hang your heads in shame, or storm away in anger and frustration. The sun came up on November 5^th, I saw it.

I am proud of what I did for the past three years. I am proud of all you have done. I am proud of the McCain family and am honored to count them among my friends, just as I do many of you.

So once again I offer you my most heart-felt and deepest thanks. I wish I had the time and energy to list and thank you all by name . . . I can not. Before I end however, I would like to give a special thanks to just a handful folks that went far above and beyond their call of duty . . .(there are many more, but bare with me)

Kathy Morrisson, Michael Schuyler, Brad Marston, Jeff Vath, John Barnhart, Bill Smith,

Branden Folger, Samantha Folger, Brad Hansen, Andi Card, Debra Aldinger, Yomin Postelnik, Jean Avery, Andrea Snell, Ian Droste, Sharon Caliendo, Oliver Ditch, Jonathan Tallman, and many many many many more.

More important than our own ‘feelings’ or even more important than congratulating the new President-elect is to give our advice on how our nations needs to be guided.

It is our duty as citizens, it is our obligation to our country to press on and do so. The democrats and Obama may indeed not listen, however we may still benefit our nation by speaking up.

As promised -- LGTR is still here and in the battle for conservative ideals and principles. Thank you for all your efforts getting ready for the 2008 election.

LGTR also values you, your friends and others who are in this fight and commend yours and their efforts. Starting immediately, LGTR will begin work towards taking back control of the Congress in 2010. Ronald Reagan told his supporters upon the election of Jimmy Carter, that the time would be ripe for a major change in four years because America cannot abide socialism for long and to prepare immediately. The same effect happened with the Clinton Administration who lost control of Congress.

Invite your friends to turn their present negative reactions to the election into something positive by joining this LGTR FaceBook Group http://www.facebook.com/l.php?u=http://letsgetthisright.com .

And also opening an account on the LGTR web site http://letsgetthisright.org

Also remember you can form groups on the LGTR website and start communicating and preparing for the future by addressing conservative values and principles right now.

Again . . . THANK YOU,

Sincerely,

Sheridan B Folger

3pm Election Update HOLY SH%$

VOTER FRAUD HERE IN NEW HAMPSHIRE!

Hot Air: Voter fraud in Minneapolis?

Tough Day In Baxter County?

Townhall: Philly Man Tells CNN He Voted "A Couple Times"

BREAKING NEWS - Lawsuit Being Filed Over NH New Voter Registrations

By Ethan Kendrick

Now Hampshire’s News and Politics Blog

Tue, 11/04/2008 - 3:22pm

http://www.nowhampshire.com/content/breaking-news-lawsuit-being-filed-over-nh-new-voter-registrations

The New Hampshire Republican State Committee is filing a lawsuit against the New Hampshire Secretary of State, William Gardner, claiming that Republican election officials are purposefuly being kept away from new registration tables. Both Republicans and Democrats appoint election officials to ensure that neither party tries to tamper with votes or registration.

The photo above shows election officials over pre-registered check-in tables in Hampton this morning.

- more information to come shortly -

Sheridan Folger,

2:00pm Est LIVE ELECION UPDATE. WTF!??!

BLOG: RedState: Voting twice in Philly

Why you should vote for me by Senator John MCain

"Obama vs. McCain: What the Next President Will Mean for Day Traders"

NEWS: NBC: Drama With Some Local Voting Machines

Christian Conservative election coverage

RED STATE: Suppressing the Vote in Lancaster County

VIDEO: Malkin: Billy club-wielding security guards at Philly polls

Newsbusters: Voter Asks CNN Why They Haven't Reported Black Panthers in Philly

Sheridan Folger,

Important Conf Call and Items Of The Day.

Conference Call to Discuss Why Seniors, Americans of Faith and the Business Community Should Vote McCain for President - Tonight and Mon. night at 7:3

1 or 2 Blue States McCain Could Win

The State of the Campaign

Minutes For McCain-Palin

McCain Kudlow Interview - Keep Taxes Low Help the Economy

Excerpt from An Interview with Senator McCain by Larry Kudlow

McCain: Well, I try to talk about them more often. A lot of the people that come, frankly, are people that are having trouble staying in their homes, keeping their jobs, etcetera. But I think it goes back to all this business of Sen. Obama’s view of “fairness.” When Charlie Gibson said, why would you want to raise capital-gains taxes when you know it will decrease revenue? And he said in “fairness.” And he told Joe the Plumber — Joe the Plumber got the message through better, what we’ve been trying to do this whole campaign. [Obama] wants to “spread the wealth around.” That takes from the investor class. That takes money from one group of Americans and gives it to another.

Now that signal has been very clear. And I think people ought to pay attention to it, because it’s been tried before in other countries, and policies of other left-liberal administrations. It doesn’t work, and it’s bad for America. We want to encourage the investor class, and that means capital-gains and dividend taxes are low.

Kudlow: You’ve just unveiled a new tax cut on capital gains. Can you tell us about that? Because in some sense, that’s probably the most important investor class tax.

McCain: It’s the most important in many respects, Larry, and we want it low and we want it lowered. Every time — there’s one tax that there’s no argument about, that every time it’s been lowered since Jack Kennedy, we have seen an increase in revenues. Now, why anybody would argue, as Sen. Obama does, that we need to raise it, even if it’s — of course, the amount needed to raise it is varied with whatever poll he’s taken — but the point is that we want to lower it and keep it low and encourage investment, especially now in America in these difficult times.

Kudlow: But senator, what is — the current law rate is 15 percent.

McCain: Yeah, yeah.

Kudlow: You’re taking the cap-gains rate down to what?

McCain: First down to 10 percent, I would like to see it, and gradually even make it lower. Look, why should we tax people’s gains twice? Why should we tax them twice, okay? They make an investment, they should be able to get their returns on their investment. And capital gains is obviously — low capital-gains tax is probably the greatest incentive for investment that we have in America today. And so, look, I’ll be glad to listen to smart people like you, Larry, but the worst thing we can do is tell people we’re going to raise it, and that, obviously, would chill investment in America, right?

Promises of Redistribution and Spread the Wealth

David Harsanyi's article If It Redistributes Like a Duck... looks at Obama's plans to change the fundamental structure of the American economy by focusing tax codes on redistribution of wealth.

Obama is the first major presidential candidate in memory to assert that taxation's principal purpose should be redistribution.

The proposition that government should take one group's lawfully earned profits and hand them to another group -- not a collection of destitute or impaired Americans, mind you, but a still-vibrant middle class -- is the foundational premise of Obama's fiscal policy.

It was Joe Biden who said (not long ago, when he still was permitted to speak in public), "We want to take money and put it back in the pocket of middle-class people." The only entity that "takes" money from the middle class -- or any class for that matter -- is the Internal Revenue Service. Other than that, there is nothing to give back.

And who knew we needed such a drastic renovation of an economic philosophy we've adhered to these past 25 years (yes, counting Bill Clinton's comparatively fiscally conservative record)? Despite a recent downturn and with all the serious tribulations we face, Americans have just lived through perhaps the most prosperous and peaceful era human beings ever have enjoyed.

From 1982 until now, every arrow on nearly every economic growth chart -- every health care chart, every chart that matters -- points in one general direction, and that's up.

Obama, who, it seems, is running not only for president but also for national baby sitter/accountant/daddy/icon, ignores this success and claims he can "invest" (will that euphemism ever go away?) and disperse your money more efficiently, smartly and fairly than you can. How could any American accept the absurdity of that position?

---

Promises of Redistribution and Spread the Wealth

Media's Bias At Unprecedented Levels

Diane West of Townhall.com writes in her article Media's O-Colored Glasses Blank Out Leftist Truth about a very disturbing element of this election cycle. The media has abandoned its responsibility to vet candidates, and have instead ignored a myriad of radical associates of Senator Obama's and dubbed them 'off limits' or 'dirty tricks'. The reality is that if an average person had the associations that Senator Obama has they would be classified as a security threat, and likely wouldn't even be able to attend events like the Democratic convention. It has been noted elsewhere that Senator Obama couldn't even be cleared to be his own Secret Service agent because of these associations. However, the media doesn't care, they are campaigning for their favorite candidate and these issues are dubbed off limits by the most biased media coverage in modern US history.

At the beginning of Obama's life, for example, there was "Frank," Obama's boyhood mentor who appears in his 1995 memoir "Dreams from My Father." Accuracy In Media's Cliff Kincaid has identified "Frank" as Frank Marshall Davis, a known Stalinist in a Soviet-sponsored communist network in Hawaii. But Obama obscures Frank's identity in his book, even, as Sean Hannity has reported, going so far as to drop passages about "Frank" from the more recent, recorded version of the book. Why? The media never asked.

Later in Obama's life there was Mike Klonsky, an unreconstructed Marxist and erstwhile leader of an honest-to-goodness Maoist splinter group in the United States. Klonsky, like his buddy, ex-Weatherman William Ayers, spreads Marxism through education "reform." As the National Review Online's Andrew C. McCarthy reported, Obama directed nearly 2 million foundation dollars to fund Klonsky's ideas in the 1990s. More recently, Klonsky wrote a "social justice education" blog on the official Obama campaign Web site -- at least until a blog named Global Labor and Politics pointed this fact out. Klonsky's musings were summarily scrubbed from the campaign Web site in June. Why? The media never asked.

And so it goes. The assorted radicals -- from ACORN to Ayers, from anti-white Jeremiah Wright to Saudi-adviser Khalid al-Mansour to former PLO associate Rashid Khalidi -- who have peopled Obama's ideological passage from rising leftist to post-ideological cipher, have been lost in the blur to a media focused solely on their own prize: Obama in the White House.

Such focus has created a drastically blinkered journalism, particularly in these final weeks. Take the fact that the supposedly "post-racial" Obama once funded Afrocentric, race-focused education programs supported by Jeremiah "G -- - D -- - America" Wright. That was a juicy blend of hypocrisy and extremism (dug up by Stanley Kurtz), but the media just averted their eyes.

Or how about good, ol' William "America Makes Me Want to Puke" Ayers, whose own relationship with Klonsky (the Maoist mentioned above) goes back to the days of the SDS (Students for a Democratic Society)? Obama worked closely with Ayers to fund radical programs (such as Klonsky's) in Chicago, endorsed Ayers' work, and launched his political career in Ayers' home. This is the ideological and literal bomb-thrower Obama brushed off as just "a guy in my neighborhood." But the media saw nothing to it -- not even a piece of Obama's questionable pattern of collaboration with a series of people best described as unregenerate leftists.

---

Media's Bias At Unprecedented Levels

401K's in Jeopardy

Retirement funds, particularly 401K's, are at risk. As previously mentioned in the article Democrats Discuss Taking Over People's 401K's Democrats are looking to eliminate the tax break for 401K's and to subsidize a takeover of these savings plans. Investment New reports in their article House Democrats contemplate abolishing 401(k) tax breaks point out the problems with this plan.

"From where I sit that's just crazy," said John Belluardo, president of Stewardship Financial Services Inc. in Tarrytown, N.Y. "A lot of people contribute to their 401(k)s because of the match of the employer," he said. Mr. Belluardo's firm does not manage assets directly.

Higher-income employers provide matching funds to employee plans so that they can qualify for tax benefits for their own defined contribution plans, he said.

"If the tax deferral goes away, the employers have no reason to do the matches, which primarily help people in the lower income brackets," Mr. Belluardo said.

US News and World Report has also written articles on Democrats plans to target 401K's and retirement plans if they obtain control of the presidency and congress...
Why Democrats Will Target the Investor Class in 2009

Would Obama Dems Kill 401K Plans?

---

Hat Tip other bloggers covering this issue...

Smart Girl Politics Kiss Your 410K Good Bye

Ms Placed Democrat Obama's 401K Plan is Nothing More Than a Junk Bond

Say What You Really Mean Under President Obama Kiss Your 401K Goodbye, Your Net Pay Shrinks, And The Constitution Will Be Walked On Like It's His Daily Exercise Routine.

---

401K's in Jeopardy

Democrats Discuss Taking Over People's 401K's

If you don't think an Obama, Pelosi, Reid run government would result in a dramatic swing to the left, read US News and World Reports article on congress' discussion of takng over people's 401K's. 401K's are not 'rich people' savings plans they are middle America's retirement and savings plans, and Dems are looking to make them into 'government created' accounts. Would Obama, Dems Kill 401(k) Plans?

I hate to use the "S" word, but the American government would never do something as, well, socialist as seize private pension funds, right? This is exactly what cash-strapped Argentina just did in the name of protecting workers' retirement accounts (Efharisto, Fausta's Blog). Now, even Uncle Sam isn't that stupid, but some Democrats might try something almost as loopy: kill 401(k) plans.

House Democrats recently invited Teresa Ghilarducci, a professor at the New School of Social Research, to testify before a subcommittee on her idea to eliminate the preferential tax treatment of the popular retirement plans. In place of 401(k) plans, she would have workers transfer their dough into government-created "guaranteed retirement accounts" for every worker. The government would deposit $600 (inflation indexed) every year into the GRAs. Each worker would also have to save 5 percent of pay into the accounts, to which the government would pay a measly 3 percent return. Rep. Jim McDermott, a Democrat from Washington and chairman of the House Ways and Means Committee's Subcommittee on Income Security and Family Support, said that since "the savings rate isn't going up for the investment of $80 billion [in 401(k) tax breaks], we have to start to think about whether or not we want to continue to invest that $80 billion for a policy that's not generating what we now say it should."

Hat Tip to Smart Girl Politics original article Kiss Your 401k Goodbye!

---

Democrats Discuss Taking Over People's 401K's

Obama's Tax Plan and Income Redistribution Hurts the Economy and the Middle Class

Senator Obama's tax plan is packaged as tax cuts for the middle class when in reality there are numerous tax increases on the middle class and on small business owners. Senator Obama's tax policies are similar to those of Herbert Hoover who raised taxes, implement isolationist policies, and drove the American economy into a massive depression. Senator Obama claims that his tax policies that give a government check to people not paying anything in income taxes are done in the name of fairness. However, the economic depression that his policies would likely trigger is fair to no one. Investor's Business Daily lays out the problems with the Obama 'spread the wealth' tax plan in their article Investors Flee From 'Change' Obama Hypes

These tax credits are devised to phase-out based on income, which will ultimately increase marginal income tax rates for middle-class workers. In other words, as you earn more, you suffer a penalty in the phase-out of these credits, which has the exact effect of a marginal tax rate increase. That harms, rather than improves, the economy.

With the bottom 40% of income earners not paying any federal income taxes, such tax credits would not reduce any tax liability for these workers. Instead, since they're refundable, they would involve new checks from the federal government.

These are not tax cuts as Obama is promising. They are new government spending programs buried in the tax code and estimated to cost $1.3 trillion over 10 years.

Obama argues that while these workers do not pay income taxes, they do pay payroll taxes. True, but his planned credits do not involve cuts in payroll taxes. They are refundable income tax credits designed to redistribute income and "spread the wealth."

Meantime, Obama has proposed effective tax increases of 20% or more in the two top income-tax rates, phasing out the personal exemptions and all itemized deductions for top earners, as well as raising their tax rates.

He wants a 33% increase in the tax rates on capital gains and dividends, an increase of 16% to 32% in the top payroll tax rate, reinstatement of the death tax with a 45% top rate, and a new payroll tax on employers estimated at 7% to help finance his health insurance plan. He's also contending for higher tariffs under his protectionist policies.

Finally, he would increase corporate taxes by 25%, though American businesses already face the second-highest marginal tax rates in the industrialized world, thus directly harming manufacturing and job creation while weakening demand for the dollar.

Obama argues disingenuously that his tax increases would only affect higher-income workers and "corporate fat cats." But it is precisely these top marginal tax rates that control incentives for savings, investment, entrepreneurship, business expansion, jobs and economic growth. While he wants to tax the rich, the burden will fall on the poor and the middle class.

Obama's Tax Plan and Income Redistribution Hurts the Economy and the Middle Class

Obama A History of Socialist Policies/Beliefs

From Fox News - Obama, in 2001 Interview, Lamented Failure of Civil Rights Movement to Redistribute Wealth

A 7-year-old radio interview in which Barack Obama discussed the failure of the Supreme Court to rule on redistributing wealth in its civil rights rulings has given fresh ammunition to critics who say the Democratic presidential candidate has a socialist agenda.

The interview -- conducted by Chicago Public Radio in 2001, while Obama was an Illinois state senator and a law professor at the University of Chicago -- delves into whether the civil rights movement should have gone further than it did, so that when "dispossessed peoples" appealed to the high court on the right to sit at the lunch counter, they should have also appealed for the right to have someone else pay for the meal.

In the interview, Obama said the civil rights movement was victorious in some regards, but failed to create a "redistributive change" in its appeals to the Supreme Court, led at the time by Chief Justice Earl Warren. He suggested that such change should occur at the state legislature level, since the courts did not interpret the U.S. Constitution to permit such change.

"The Supreme Court never ventured into the issues of redistribution of wealth and sort of basic issues of political and economic justice in this society, and to that extent as radical as people try to characterize the Warren Court, it wasn't that radical," Obama said in the interview, a recording of which surfaced on the Internet over the weekend.

"It didn't break free from the essential constraints that were placed by the founding fathers in the Constitution, at least as it has been interpreted.

"And the Warren court interpreted it generally in the same way -- that the Constitution is a document of negative liberties, says what the states can't do to you, says what the federal government can't do to you, but it doesn't say what the federal government or state government must do on your behalf, and that hasn't shifted.

"And I think one of the tragedies of the civil rights movement was that the civil rights movement became so court-focused, I think there was a tendency to lose track of the political and organizing activities on the ground that are able to bring about the coalitions of power through which you bring about redistributive change, and in some ways we still suffer from that," Obama said.

---

Obama A History of Socialist Policies/Beliefs

IBD: Barack Obama's Stealth Socialism

Investor's Business Daily's article Barack Obama's Stealth Socialism is definitely worth a read. An exerpt follows...

During his NAACP speech earlier this month, Sen. Obama repeated the term at least four times. "I've been working my entire adult life to help build an America where economic justice is being served," he said at the group's 99th annual convention in Cincinnati.

And as president, "we'll ensure that economic justice is served," he asserted. "That's what this election is about." Obama never spelled out the meaning of the term, but he didn't have to. His audience knew what he meant, judging from its thumping approval.

It's the rest of the public that remains in the dark, which is why we're launching this special educational series.

"Economic justice" simply means punishing the successful and redistributing their wealth by government fiat. It's a euphemism for socialism.

In the past, such rhetoric was just that — rhetoric. But Obama's positioning himself with alarming stealth to put that rhetoric into action on a scale not seen since the birth of the welfare state.

---

IBD: Barack Obama's Stealth SocialismIBD: Barack Obama's Stealth Socialism

McCain the King of the Comeback

As the media tries to call this race over, it's worth noting that not only is this not the first time that the media has declared the McCain campaign dead. It is also worth noting that Senator McCain's underdog role is nothing new to him, and he has a penchant for pulling off upsets just as he's being counted out. In fact his odds in this race are remarkably good compared to other challenges he has faced in his life...

Now, as he presses against the strongest political headwinds in many, many years, he’s trying to follow his own advice. Looking back to the early days of the campaign, John Weaver told me that McCain, politically, was “facing a Category 1 hurricane” when he began his race. Now, Weaver says, “it’s a Category 5.”

Despite it all, McCain pushes on, propelled by a drive most people just don’t have. I remember traveling to Iowa in the fall of 2007, after McCain’s campaign meltdown had left him in dreadful financial straits. We were going to the farthest reaches of northwest Iowa, near the Minnesota border. McCain was staying in a Holiday Inn Express in the middle of nowhere — when you walked out the door, the smell of fertilizer got your attention pretty quickly — and he was traveling around in a minivan because his bus had broken down. He spent his days talking to small groups — sometimes really small groups — in diners and pizza joints.

He was 71 years old at the time, wealthy, with a safe and senior spot in the Senate and a career that few, if any, public servants could match. On top of that, his campaign had blown up in an explosion of mismanagement and bad feelings that had many political insiders and journalists writing its obituary. And yet there he was, plugging away, every day, animated by something that is unique to his character.

And why shouldn’t he feel that he can overcome just about anything? This is a man who has dodged death — real death, not political death — many times. There’s more to the story than his enduring five and a half years as a prisoner of war — just look at the fuzzy old black-and-white film of McCain on July 29, 1967, leaping off the refueling probe of his jet after it had been struck by a missile on the deck of the USS Forrestal. It was one of the worst disasters in Navy history, killing 132 men. McCain, miraculously, walked away from it. On one of those trips around Iowa, sitting in the back of his bus — after his campaign found one that worked — McCain described the days after the Forrestal fire. He was at a meeting in which the commanding officer asked if anyone would like to volunteer to transfer to another carrier, the USS Oriskany, which had itself undergone a fire, although a less serious one. Describing himself as if he had been an outside observer, McCain said that he saw his hand go up to volunteer when he could have sought out a less dangerous assignment; on that day in Iowa, 40 years later, he still seemed a little surprised by what he had done. But off he went, and it was from the Oriskany that he took off on the mission that led to his capture and imprisonment, events that would inform so much of his subsequent political career.

The lesson is that McCain is always searching for something new to overcome. Of course he would rather not be facing quite so many political adversities at once, but he is a man who, if he makes it out of one scrape, puts himself in position for another.

And now, he’s doing it again. “How many times, my friends, have the pundits written off the McCain campaign?” he asked a crowd in Wisconsin on October 10. “We’re gonna fool ‘em again. We’re gonna fool ‘em one more time.” A few days later, in Virginia, McCain described the forces arrayed against him and declared, “My friends, we’ve got them just where we want them.” People in the audience laughed. But in some sense, deep inside, McCain meant it.

From National Review John McCain Against the Wind

---

McCain the King of the Comeback

Obama A History of Socialist Policies/Beliefs

From Fox News - Obama, in 2001 Interview, Lamented Failure of Civil Rights Movement to Redistribute Wealth

A 7-year-old radio interview in which Barack Obama discussed the failure of the Supreme Court to rule on redistributing wealth in its civil rights rulings has given fresh ammunition to critics who say the Democratic presidential candidate has a socialist agenda.

The interview -- conducted by Chicago Public Radio in 2001, while Obama was an Illinois state senator and a law professor at the University of Chicago -- delves into whether the civil rights movement should have gone further than it did, so that when "dispossessed peoples" appealed to the high court on the right to sit at the lunch counter, they should have also appealed for the right to have someone else pay for the meal.

In the interview, Obama said the civil rights movement was victorious in some regards, but failed to create a "redistributive change" in its appeals to the Supreme Court, led at the time by Chief Justice Earl Warren. He suggested that such change should occur at the state legislature level, since the courts did not interpret the U.S. Constitution to permit such change.

"The Supreme Court never ventured into the issues of redistribution of wealth and sort of basic issues of political and economic justice in this society, and to that extent as radical as people try to characterize the Warren Court, it wasn't that radical," Obama said in the interview, a recording of which surfaced on the Internet over the weekend.

"It didn't break free from the essential constraints that were placed by the founding fathers in the Constitution, at least as it has been interpreted.

"And the Warren court interpreted it generally in the same way -- that the Constitution is a document of negative liberties, says what the states can't do to you, says what the federal government can't do to you, but it doesn't say what the federal government or state government must do on your behalf, and that hasn't shifted.

"And I think one of the tragedies of the civil rights movement was that the civil rights movement became so court-focused, I think there was a tendency to lose track of the political and organizing activities on the ground that are able to bring about the coalitions of power through which you bring about redistributive change, and in some ways we still suffer from that," Obama said.

---

Obama A History of Socialist Policies/Beliefs

All McCain All Day Today!!??

Minutes For McCain-Palin

Letter From Team Sarah

Obama lead only 2.8%!

Picking On Palin

RESPONSE: Obama's "Closing Argument"

CNN: Your chance to ask Obama the questions

McCain: Reid, Pelosi, Obama a ‘dangerous threesome’

McCain Campaign Statement on Obama's Paycheck "Redistribution"

NEWS: JCP: A call for change: Elect John McCain

NEWS: GRP: For president -- John McCain

NEWS: BS: Security brushed aside

Obama On Capitalism & The Supreme Court

NEWS: TO: John McCain

Joe The Plumber's Family Decry Attacks!

TH: Dem Playbook Shows Dirty Tactics

NYDN: '60s leftist William Ayers: Time for GOP to get over it

as Ronald Reagan would say, now is A Time For Choosing

NYP: Dubious Donations

John McCain’s remarks on the economy in Cleveland

Pink Elephants: Obama on Spreading the Wealth

McCain-Palin 2008 Launches New Web Ad: "Life Savings"

Sheridan Folger, Brad Marston McCain Super Saturday New Hampshire

Sheridan Folger

Sheridan Folger, Brad Marston McCain Super Saturday New Hampshire

McCain - Super Saturday

Okay. So I thought I would be live blogging our Mini-Super Saturday. Unfortunately we ran behind schedule almost from the start.

I got to Stratham, NH about 9:30 in the morning and met Eric Maurer, Field Director in Rockingham County as well as Let's Get This Right and McCainVictory08.com members Ashley, Ray and Connor. We spent an hour making phone calls and then hit the road to Exeter for some door belling for McCain-Palin, John Sununu and Jeb Bradley.

PLEASE CLICK HERE FOR THE REST!!

McCain-Palin Events/Poll Update

I wanted to report to you that the McCain/Palin campaign is having a great week in Manchester and across New Hampshire. On Wednesday, thousands of New Hampshire voters came to St. Anselm’s College to hear Senator McCain speak. Even better, Rasmussen just released a poll that shows us within the margin of error in the state of New Hampshire! I encourage you to view the poll results here: http://www.rasmussenreports.com/public_content/politics/election_20082/2008_presidential_election/new_hampshire/election_2008_new_hampshire_presidential_election

There is no doubt that New Hampshire is still in play, and we need your help for the next nine days. Our Get Out the Vote (GOTV) effort is key to winning this state, and it will only be successful if we can count on dedicated Republicans like you. The work we do in New Hampshire these next nine days could very well determine what happens these next four years.

Voter contact is the key to winning this election, so I encourage you to visit one of our Victory Offices to make some phone calls or to go out knocking on doors. Our Manchester Victory office is located at 250 Commercial St., Suite 3007 in the Wambuec Mill Building. Our hours of operation are 9am until 9pm, every day from now until the election. If you’re interested in helping, feel free to contact me at 603-369-2202, or just come by the office. If you’re not close to Manchester, then you will be pleased to know that we have several other regional offices throughout the state, listed below.

I look forward to working with you these next 9 days to make sure we elect all of our good Republican candidates in New Hampshire and want to thank you again for all your work on behalf of the Republican Party.

McCain Good for Business and Good for the Economy

Often times pro business even pro small business policies are looked upon with disdain as can be seen in Senator Obama recently comments criticizing Senator McCain for caring more about Wall Street than Main Street. However, this is a myopic view of the economy. Pro business policies create jobs, pro business policies help grow the economy. Putting the breaks on an already sagging economy with increased taxes does nothing for the American worker exept make life harder. CNBC notes that small business owners recognize that McCain Understands Small Business Owners

The following is a statement from American Small Business League (ASBL) President Lloyd Chapman: One look at Senator John McCain's website will tell you, this is a man that knows and cares about America's 27 million small businesses. He knows 56 percent of all Americans work for small businesses. John McCain is a small business guy through and through.

Time also reported on the 300+ professional economists that back McCain. Conversely the Union Leader disusses how Senator Obama's tax plan does not add up in their article It doesn't compute: Obama's tax plan a ruse.

Numerous organizations, including the Associated Press, have noted that Obama's proposals spend hundreds of millions of dollars more than his tax hikes raise. What is less well known is that Obama's tax plan itself sends out of Washington far more than it brings in. Obama's campaign twice admits that in the wording of the tax plan.

According to the plan, "his tax relief for middle-class families is larger than the revenue raised by his tax changes for families over $250,000." That sounds like he's giving a net tax cut. But much of what he calls "tax cuts" are actually cash payments to low- and middle-income Americans. Ultimately, he sends out of Washington hundreds of billions of dollars more than it takes in.

In other words, Obama promises more in benefits to low- and middle-income Americans than his plan can finance with his tax hikes on "families" making more than $250,000 a year. And note the word, "families." Even though Obama says that no "family" making less than $250,000 a year will see a tax increase, in fact his plan raises taxes on individuals making $200,000 a year or more.

The bottom line is that Obama is not being honest about his tax and spending plans. It is impossible -- impossible! -- for him to finance his giveaways by taxing only those making $250,000 or more. He will have to raise taxes substantially on people making much, much less than that.

Senator Obama's plans to "spread the wealth" are anti-growth measures done in the name of fairness. However, there is nothing fair about halting economic growth. There is also nothing fair about punishing success.

---

McCain Good for Business and Good for the Economy

Are These the McCain/Palin Supporters That The Media Is So Scared Of?

During the last debate Senator McCain stuck up for his supporters who attend his rallies and town halls. It struck me as sweet, but unnecessary. If McCain supporters are discouraged by being talked down to, or called names by the media or others we'd all be a fetal position by now. However, having attended a McCain rally and a Palin rally in the last two weeks, it is evident that the media has done a hatchet job in describing these crowds. First, any threat or vile language is inappropriate particularly at event of this size; and I heard none at either. In fact quite the opposite was true. People were extremely friendly courteous and well-behaved. In line at the Palin rally a fellow said, "I think this must be the nicest line I've ever been in."

Yet two incidents in particular stand out as possibly why Senator McCain felt compelled to stick up for his supporters. First, at the Palin rally the crowd chanted on and off 'Sa-rah, Sa-rah' for close to an hour prior to Governor Palin arriving. After one of these chants had stopped a little girl maybe five or six years who likely has autism or down syndrome was standing by a partition started quietly chanting on her own 'Sa-rah, Sa-rah' bringing a big smile to everyone within earshot.

At the McCain rally some volunteers who had made a number of calls or knocked on a number doors the prior weekend were allowed to go backstage and meet Senator McCain as he came off stage. As we stood in a line a cute little curly haired girl standing with her mother, who had been carrying a teddy bear backpack around, lit up as Senator McCain approached. After taking a group picture Senator McCain said, "there's my girl" and the little girl ran up to him and threw her arms around him as he bent down to give her a hug. After talking to him and giving him another hug, the little girl had tears in her eyes she was so happy to see him. It didn't dawn on me till later, but I believe this little girl during the primaries had saved up her allowance for several weeks to give to the campaign because she had heard they needed money.

Now I don't expect the media to report on cute kids that attend McCain/Palin rallies, and I don't expect reports on good behavior, but it would be nice if the media didn't paint everyone with the same brush. Bad behavior is bad behavior, and there is no excuse for shouting inappropriate remarks particularly in a crowed arena. However, assuming that all crowds at all McCain/Palin events either think or act as a very few actually do is misleading and inappropriate. It is also another example of the media campaigning for their favorite candidate by essentially denouncing McCain supporters as a hostile and angry mob. They have cameras at these events, and they know what they are reporting is false.

---

Are These the McCain/Palin Supporters That The Media Is So Scared Of?

Biden Says Obama Will Be Tested With A ‘Major International Crisis’

Barack Obama will need help in a crisis, says Joe Biden from Times Online UK...

Joe Biden, the Democratic vice-presidential nominee, has told Americans to expect a “major international crisis” that will present an early test of a Barack Obama administration.

His comments were seized upon by the Republican campaign yesterday to raise fresh doubts about the prepared-ness of Mr Obama to be commander-in-chief.

Speaking at a fundraiser in Seattle on Sunday night, Mr Biden said: “Mark my words, it will not be six months before the world tests Barack Obama like they did John Kennedy. The world is looking. We’re about to elect a brilliant 47-year-old senator president of the United States of America. Remember I said it standing here . . . we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.”

He cited Russia and the Middle East as possible places that may cause problems, as well as the border between Afghanistan and Pakistan – “crawling with al-Qaeda” – as being of particular concern.

Mr Obama would need help and support, Mr Biden suggested, “because it’s not gonna be apparent, initially, that we’re right.” He then spotted the media in the room, “I probably shouldn’t have said all this because it dawned on me that the press is here.”

Now why would anyone vote for Barack Obama when his own VP states that a vote for Obama is a vote for an international crisis? Why would anyone want to be a part of a ticket that one believes will lead the country to crisis? What an unbelievable statement. The only time a time camera falls on Senator Biden at this point is when he is trying to pull his foot out of his mouth. However, this is beyond a gaffe; this is disturbing. It appears Senator Biden sees Senator Obama as weak. It appears that Senator Biden, is not confident in Senator Obama's ability to handle a crisis, and it appears that Senator Biden would prefer a "major international crisis" that a Republican president.

---

Biden Says Obama Will Be Tested With A ‘Major International Crisis’

Obama's Plan to Spread the Wealth

Despite the Obama campaign's and media's attempt to discredit 'Joe the Plumber', a fellow who simply asked Senator Obama a question at a campaign event, his question remains valid, and Obama's response proves insightful. Obama's $250,000 a year tax increase provides a barrier to success for the middle class, particularly for entrepreneurs and small business owners. For these people on the bubble there is a penalty for growth. Consequently, this puts the brakes on the growth of many small businesses, which are responsible for a large percentage of new jobs. Raising taxes in a struggling economy on any economic bracket is a terrible idea. Tax increases slow economic growth, and that hurts people across the board. If jobs dry up, it's not the $250,000 plus crowd that will be hurt the most, it will be the middle class.

Senator Obama's response to Joe is interesting. 'Spreading the wealth' is a principle of socialism. This combined with Senator Obama's plan to reduce taxes for 95% of the people, when 30-40% of the people don't pay federal income tax has all the hallmarks of a socialist policy. Senator Obama has never addressed whether people who don't pay taxes would receive a government check. Either his numbers are off or he is creating a welfare class is his plan. Subsidizing low income is the perfect way of encouraging people not to achieve. Why work harder if the government will pay you not to. Why start a new business if the government will penalize you for your success. This is the perfect plan to deaden the economy; penalize success, reward mediocrity, and limit the growth of new/small businesses.

[youtube=http://www.youtube.com/watch?v=0KXRq2bErVc]
Obama's Plan to Spread the Wealth

Minutes For McCain-Palin

Dear McCain Supporter,

Thank You for you support of Sen. JOHN McCAIN & Gov. SARAH PALIN!!!

We are starting the National GOTV (Get Out the Vote) effort for the McCain/Palin campaign through the McCain Google Groups, Let's Get This Right.com, McCain Victory 08.com, and other Internet McCain groups & websites.

Use your FREE Cell phone weekend minutes to make calls for McCain/Palin! We are targeting certain states, our FANTASTIC McCain Google Group Volunteers please make calls to the following states from the McCain web site (these are the Targeted, Battleground states:

CLICK HERE TO MAKE PHONE CALLS

People from: ME, VT, NY, MA, CT, RI

Please make phone calls into:

People from: OH, MI, IL, WI,MN

Please Make phone calls into:

People From: PA, NJ, DE, MD

Please Make calls into:

People From: VA, WX, & WASH DC

Please Make calls into:

People From: FL, GA, AL, LA, AK

Please Make calls into:

People From: NM, AZ, & TX

Please Make calls into:

People From: CO, UT, KS, WY, MT, ND, SD, KS, OK

Please Make calls into:

People From: NV, WA, OR, CA, & ID

Please Make calls into:

People From: MO, AK,TN, OK, KS, NE, IA, & TX

Please Make calls into:

People From: NC, GA, SC, TN, VA, & KT

Please Make calls into: