Cap and Tax Bill Nears Vote

Like I was sayin… Hold on you your wallets.  The house is moving toward passing the Waxman Markey bill to combat the global warming hoax.  You can read all about the latest on the bill here.

Some of the more vexing issues are that we are going to have a massive tax increase to fight a make believe crisis.  Energy prices are expected to almost double.  Gas will go up at least 77 cents a gallon according to some estimates.  Waxman just added another 300 pages to the bill prior to the vote and there are placeholders for more legislation.  This means that anybody who votes for it is voting for a bill that is missing language that will be inserted after the bill passes.  I didn’t even know this was legal.

This story has links to a list of congressmen that are on the fence.  You need to call them to put a stop to this.

Global Warming and Truth in Advertising

As congress moves closer to drafting and passing a cap and trade bill, Americans need to understand that they are the victims of a giant hoax.

There is a great post over at the Conservative Patriot HQ discussing this topic.  Our media and government seem to want to ignore that fact that man made global warming claims are dubious at best.  Most of the studies ignore evidence to the contrary or skip the peer review process all together.

Soon, Americans will be burdened with a massive energy tax that will cripple our economy.  The question is, are we going to let this happen?

Stimulus Not Putting a Halt to Unemployment

Like I was sayin… maybe they should have read the bill first.

Over at Conservative Patriot HQ, there is a post detailing the massive fraud that was perpetrated on the American people in the form of the Stimulus bill. 

We were told that if we didn’t pass the bill “right now” we were headed for certain economic disaster.  However, the facts show that unemployment is now worse that what the administration predicted if we did nothing.  Perhaps we would have been better off if somebody would have read the bill….

Be sure to check out the chart that says it all…

Obama: Taking aim at Success

Like I was sayin… Life is so unfair.

Unless you live under a rock, you have heard that the Obama administration has put a cap on salaries for executives of companies that get a bailout from the tax payer.  This cap is currently set at $500k.

It would seem to make sense that if somebody so badly manages a company that the tax payers have to bail the company out, those managers shouldn’t be rewarded for failure.  Most people get rewarded when they do a good job and get penalized for a poor job.  I agree that those companies that need help should be penalized.

However, I am concerned about some of the things that Obama said during the announcement of the cap.  In part of the speech Obama says:

For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis is not only in bad taste — it’s a bad strategy — and I will not tolerate it as president.

This part of the speech is of particularly great concern.  It is aimed not at executives at failing companies, but executives at successful companies that have very generous compensation packages.  And as president, Obama will not tolerate it.

As a free market-capitalism loving American, I am very concerned about he ramifications of what can happen next.  I would hate to think that I live in a country that believes that if the economy is in recession, it is wrong for me to make a lot of money. 

Again, I don’t take issue with penalizing the managers of companies that need to be bailed out, but it would seem that Obama is indicating that further changes are needed to executive compensation in America.

Finally, these guidelines we’re putting in place are only the beginning of a long-term effort. We’re going to examine the ways in which the means and manner of executive compensation have contributed to a reckless culture and quarter-by-quarter mentality that in turn have wrought havoc in our financial system. We’re going to be taking a look at broader reforms so that executives are compensated for sound risk management and rewarded for growth measured over years, not just days or weeks.

“This is only the beginning of a long-term effort…”  It would seem as though Obama believes that the government should decide how executives are compensated rather than the owners of the companies.  Is this the first step in the long march toward the government deciding what pay scales are correct for which jobs?

We should all be concerned that one day the government may take an interest in how much each one of us makes each year and deciding what is fair.

Real Stimulus that will work

(Jan 28, 2009) – Like I was sayin… somebody will eventually come up with a good idea.

Today, house republicans put forth an alternative stimulus that actually makes sense.  It is short on sod, governement vehicles, ACORN funding, contraceptives, and $500 checks.  What it does do, is cut everyone’s taxes and offers some minor spending reductions.

The Economic Recovery and Middle-class Tax relief act of 2009 focuses on cutting taxes.  It cuts tax rates 5% accross the board, increases the child tax credit from $1,000 to $5,000, and freezes capital gains taxes at 15%.  This will never reach a vote as house democrats would rather try to increase spending and handouts in an attempt to jump start the economy.

The problem is that our elected representatives don’t seem to remember the impact of the last stimulus package which did little to help the economy.  I wasn’t against the govenment sending me a check, but it is only a temporary blip and didn’t do much to stimulate the economy.  If the dems send everybody a check for $500, people will simply pay off bills or pay down debt.  However, a permanent cut in taxes will change the behaviors of people.

The Republican bill will positively impact the economy in a number of ways.  First, businesses will have less taxes to pay.  Some people will argure that “businesses don’t pay enough taxes and should pay more”.  However, many people fail to realize that businesses just pass the expense of taxes on to you.  Will smaller tax bills, currently successful firms will be able to invest and grow which means jobs.  Struggling firms will have a reduced tax burden which will help them stay afloat.

Individuals will benefit in many ways.  Most importantly, they will have more money in their paychecks.  This won’t be a one time check, but will show up in every paycheck.  People who are struggling will have more money to make ends meet.  People who are doing well will have more money to spend, save, or invest.  It is also important to remember that when people save or invest, that provides more capital for businesses to use to grow with in turn creates jobs.

People need to stop worrying about which party proposes something and think about what the bill does for themselves and the county.  If government spending stimulated the economy, we would have the best most stable economy in the world.