Another Tax Plan?

We’ve heard Obama supporters attack John McCain’s tax plan, and the McCain supporters flame the Obama tax plan.  But I’ve never heard anyone ask any of the candidates this question and a reasonable response given:

Why do we need a new tax plan, especially in this economic climate?

I’m not a fan of T. Boone Pickens, but he reportedly stated that the last thing government should do with the economy as unstable as it seems to be is to mess around with the tax structure.  And he has a point.

The last thing that anyone, businesses or individuals, need to worry about is what will next year’s taxes be like.  Such uncertainty tightens up the wallet.  Neither candidate’s plan makes much sense to me, probably because the details are so convoluted and contradictory.  Maybe that’s why I’m really starting to lean toward a flat-tax solution, but that’s a post for a different time.

Actually, what both candidates should do is pledge not to mess around with the tax code until the Federal government gets their act together and produce & stick to a balanced budget.  The taxpayer is not a bottomless pit of money for government to tax & spend.  Government is to be responsibly spending the taxpayer’s dollars, and that means not spending any more than what is taken in.  Millions of Americans do this, why can’t our Government do the same?

We’ve all heard about Joe the Plumber ask Barack Obama about his tax plan, and the response.  Perhaps we should ask all of our candidates, incumbent and hopefuls, what they are going to do with public funds, and then vote accordingly.

3rd Blogaversary!!

Post Number 344 takes place on the third anniversary of writing a blog.  That’s almost 115 posts a year!  Wow – no wonder my fingers are tired.

Sure, this location is the result of the third migration, but who cares?

In the three years of writing, posting, reading & responding to comments, I find myself more aware of the world and people around me, even if it is in cyberspace. Hopefully, that’s called maturity. There are many people that I would like to call my friends, others “friendly” enemies, and most, if not all, willing to discuss whatever topic that gets posted on these pages and on their own blogs. I intend to continue that shared journey for as long as I can.

I surely hope that you, the readers, will continue to join me on this ride.

Thank you for your support.   😛

Close Encounters of the Obot Kind…

I had just finished cutting the grass over the weekend and had just put my lunch in the microwave when my doorbell rang.  Looking through the glass, I saw a couple of young people with Obama pins standing outside my door.  Not wanting to be rude, I opened the door and spoke to them.  Here’s part of the conversation (them in blue, me in red):

Now you know that McCain’s campaign is being run by lobbyists…

I hate to break it to you, but Obama has accepted campaign contributions from lobbyists.

Well, yeah, but all candidates do.

So what was your point about McCain?

That he’s part of the corrupt establishment that brought about this economic crisis.

How do you figure that?

Oh, the mismanagement of the Bush administration’s economic policies…

You must mean the Congressional Financial Services Committee…

Right!!!

Which is chaired by Representative Barney Frank…

Exactly!!!

Who is a Democrat…

** silence  **

Who regularly told Congress that the financial sector is secure, and that Fannie Mae and Freddie Mack were also secure and doing well up until around three weeks ago when everything hit the fan…

** more silence **

So which economic policy were you referring to?

Well, uh, forcing banks to make sub-prime loans…

…to people that probably had little or no financial means to pay back those loans, right?

Well, uh, yeah…

Do you even have a clue as to how that whole mess got started?

Well, uh, no…

Start with the Community Reinvestment Act of 1977 with Jimmy Carter as President, trace it through to Bill Clinton’s forcing Freddie Mack & Fannie Mae to buy up bad loans up to the current crisis where the whole house of cards imploded.  McCain predicted that this was going to happen in 2003 and sponsored legislation for better oversight of Freddie Mack and Fannie Mae, but the Democrats blocked it.

That’s the Republican story…

No sir!!  That is in the Congressional Record, and also reported by the Wall Street Journal and Investors Business Daily!  And worse yet, Obama took campaign contributions from Fannie Mae and Freddie Mack officials, and those same officials are running his campaign!

** background noise of microwave timer going off **

Gentlemen, that’s my lunch.  There’s a couple of things that I have to tell you before you go –

Obama is from Chicago, and I can tell you from living in Illinois for several years is that Chicago politics and politicians are some of the most corrupt in the nation.  Don’t you stop and wonder how such a person such as Obama lands in the Senate and is running for the highest office in the land during the first two years of his first term?  Not unless he has some heavy-duty political connections, and I have no doubts that he is heavily indebted to someone or some organization.  He is not as clean or fresh as he would have you believe, and probably as corrupt as some of the bozos in Washington.

Last, I have some advice for you – before you drink the Kool-Aid, find out what’s in it first.  Do your research, and do not accept anything at face value from any candidate.  Have a good day, gentlemen…

Oh, there was so much to tell them, and so little time!!  But you know, they were good little Obots, and they went to the next house to peddle their candidate.  I doubt if my conversation phased them at all.

While I like young people getting involved in the political process, I fear it as well.  They are impressionable, and tend to believe anything that a charismatic person would tell them.  Thus, they may not make the best choice based on facts, but on what someone tells them to believe.

Shall be an interesting election…

Chrysler & GM Merger?

I’m going to take some time off from ranting about the financial fiasco and the election to write about the latest semi-rumor that has hit the automotive industry.

According to the Oakland Press, Chrysler and GM are considering a merger. The interesting thing about this is that there may actually be some truth in this. Sure, there have been rumors in the past about various companies merging or taking over another company, but this one is making some sense, at least for the long term. Two quotes in the article make this more than a rumor:

Chrysler said Saturday that the company was looking at several different options.

“As we have said, the company is looking at a number of potential global partnerships as it explores growth opportunities around the world,” Chrysler spokeswoman Lori McTavish said in a statement.

Meanwhile, a Chrysler official put the chances of a deal at about “50/50” and a key United Auto Workers official said neither company has approached the UAW. “No one has talked to us about it,” said the official who asked not to be identified.

This follows on the heels of a $25 Billion loan package to the automotive industry (separate from the financial bailout package). Adding to the mix is lower sales in the automotive industry, and the fact that GM is spending approximately $1 Billion a month to keep itself going in this slowdown. Finally, the crunch in the credit markets is going to make any changes in the corporate structure of either company difficult.

Now exactly what is going to happen is anyone’s guess.  My guess is that this merger isn’t going to happen – at least anytime soon.  I can see that if Chrysler doesn’t live up to Cerberus’s expectations, it will be sold to the highest bidder and Chrysler would most likely cease to exist.

But then again, I’ve been wrong before…

Where’s the Relief?

And no, I’m not referring to an upset stomach, but this almost qualifies for a triple dose of Pepto, Rolaids, and Pepsid.  If you are like me, you are watching your retirement funds losing over 25% of their value, and there’s almost nothing you can do about it.

One week after the Congress passed and the President signed the $700 Billion bailout bill to the credit markets, the economy of the world is tanking faster than a rock on steroids.  Wasn’t this emergency bill supposed to avert this crisis?

Is anyone else out there thinking that we just got shafted again?

If anything, this continued fiasco should tell all of us that our elected officials don’t know what they are doing except to find ways of extracting more money out of us on the pretense of "helping" us.  If this is helping, I would hate to think of what these clowns would do to hurt us!

Obviously, those who were elected are obviously unqualified to lead our country much less the financial sector.  I advocate that we pass the hurt on to them – vote for whomever is not in office, i.e., do not re-elect anyone!!  Register your dissatisfaction via the ballot box and vote these bozos out!  Perhaps some new people will take it to heart and do a better job.