I've spoken out against the immorality, illegality, and unconstitutional retroactive taxation blackmail of the AIG (now AIU) executives. I've clarified that it is not illegal but immoral that they accept those bonuses. Senator Dodd and Timothy Geitner were directly responsible for the legislation that allowed the bonuses, in the CEO Bailout Bill sold to us by then Senator Obama and rammed down our throats by Representative Gordon, Frank, & Pelosi.
But the 90% tax Representative Gordon voted to exact on the political embarrassment is only one such attempt to legislate behavior through taxation. It's perhaps the most obvious, but its far from the oldest.
It has long been the practice of Congress and State Legislators to put special taxes on cigarettes. Regardless of how you feel about smoking, it is legal and it is a personal decision. In the early days of this special tax, it was designed to alter behavior. When politicians realized that smokers are addicts, they began to see it as a cash cow. Recently, they increased the cigarette tax by, not to, $8.00 a carton. The government now makes more money off the tobacco industry than do the manufacturers.
Adding to this, the State of Tennessee is imposing "minimum" prices on cigarettes as of April 1st.
The 111th Congress is considering the implementation of the Chicago Politician's special tax on energy. What is the result of such programs, including the desired result of decreased energy usage? Increased energy costs and higher energy bills.
Not convinced? Pull out your most recent water bill and electric bill and compare both the price per unit and the base service charge to a 2007 bill. Compare your usage of these services as well. Many of you will find that you pay more for less service now. Utilities must achieve a certain amount of gross profit to cover the costs and they are monopolies, necessary monopolies, but monopolies nonetheless.
Many Representatives were even calling for a tax hike of 50 cents/gallon on gasoline during the $4/gallon days of last summer. With our gas tax dollars already being swindled from the upkeep of our roads, this tax was not designed to provide better roads, but make it economically unfeasible for you to drive as much as you currently do.
And despite all of this taxation, the government continues to be in centuries old debt and racking up record deficits. The 111th Congress, including our Representative Gordon plans to increase the federal debt in their short two years than did the previous 5 Congresses.
The Whipped Blue Dogs are voting exactly as Speaker Pelosi of California Idealism tells them to vote. It appears as if they are trying to bankrupt Our Nation.
The entire tax code is designed to alter behaviors, with credits for what politicians deem good behavior and penalties for what they deem bad behavior. And yet in the midst of this, Congress is considering increasing the taxes paid on charitable donations. This is mind-boggling and the conclusions that can be drawn from it are not very flattering.
It is indeed time for a new tea party. Taxes, penalty by taxation, and behavior control by taxation are out of control. We pay more now in taxes, in real dollars, in inflation adjusted dollars, in percentage of income, than did our Founding Fathers when they threw off the chains of Britain.
It may be time for Nationwide Recall Petitions of Congress. This Congress is out of control, under the whip of Pelosi. The Blue Dogs, our last hope for rational legislation, have been whipped into submission by fringe elements of a once great party that abandoned the people.
Tennessee Taylor©2009, TNT, all rights reserved
Showing posts with label deficitis. Show all posts
Showing posts with label deficitis. Show all posts
Friday, March 27, 2009
Saturday, March 21, 2009
Common Goals
It is early in the 2010 campaign, but already at least one challenger has joined the fight. Should we end up on the ballot together, opposed to each other, it may come down to names and parties, of which I have only the former and none of the latter. I stand steadfast, independent of all parties, sworn only to the values and ethics taught me by my Tennessee Father and reinforced by decades of military service.
When two Veterans meet, stories will follow, and yesterday, two Veterans met. The stories we shared did not stop with Desert Storm, and they barely touched on the terrain of Afghanistan. They stepped back to the Civil War, when our ancestors and relatives likely stood face to face in battle and shoulder to shoulder against brothers, fighting the bloodiest war in Our Nation’s History. Our lives have paralleled as have the lives of our ancestors.
And General Dave Evans is an astute gentleman, and clearly a worthy adversary. He’s an observant man who recognizes not only the symbols but knows the meanings behind them.
We share not only similar backgrounds, but similar positions. He holds the Constitution and Bill of Rights dear. And why wouldn’t he? We’ve spent much of our adult lives defending them.
He understands the Pelosi-Reid-Obama alliance cannot withstand opposition of the real Democratic party of Jackson. He understands that our current whipped “Blue Dogs” are supporting Pelosi and Murtha and Barney Frank and that without that support, the elitists would fail.
Our parents were Democrats. Our fore-fathers were Democrats. But today’s DNC is not the party of our forefathers. It is not the party of our fathers.
We both stand on principle. It comes not only from our ancestral roots of Middle Tennessee but from Army Values. He is as concerned with Congressional largesse of Congress as am I, even if he has focused more pointedly at different aspects of it.
But there are also differences. Minor differences, really, but they are there. He was a Voluntarily Enlisted Private in the Marine Corps in 1968, during the hot period of the Viet Nam War. I was a Voluntarily Enlisted Private in the Army in the Cold War. I arrived in Germany at a time when we were still considered the “trip-wire,” there only to slow the Soviet hordes long enough for reinforcements to arrive and push them back over our bodies.
He chose the path of a Commissioned Officer (and a Gentleman, by an act of Congress), and I maintained the path of a Non-Commissioned Officer. (“I work for a living!”). He has more respect for General Shinseki than do I. (I have none, nor must I demonstrate any, anymore.) After Desert Storm, he went to Bosnia. I trained until I was sent to Afghanistan, grateful not to be sent to Bosnia.
He has a good 20 years on me, which still makes me more experienced than when Gore gave the district to Gordon. Both General Evans and I have more in common with Andrew Jackson than does Gore or Gordon, but Jackson and Evans were both Generals and I avoided the Officer rolls.
I’m thinking he was appalled to realize that Tennessee Tax Dollars are being used by Planned Parenthood to fund abortion. I doubt he knew that Bart Gordon had voted for it. Then again, I didn’t know that our Representative had taken a trip to Europe on our dime.
I’d venture to say I’m more internet savvy than is he. I have little doubt he is more politically astute than am I. It is amazing we haven’t crossed paths before. We’re certain to cross paths many times in the future. I know I’ll need to be well prepared for the debates, particularly if his attention is not diverted by Gordon’s presence. I’ll be sure to invite lots of cameras. Bart always seems to be where the cameras are.
In the meantime, the choice between General Evans and myself is likely to rest on personality, on style, rather than substance. When I face Bart Gordon, it will be all substance. It is a choice for the good citizens of Middle Tennessee to make. It is time for YOU to weigh in. And you can tell us now, that you know, or you can tell us that you need to see more of us.
But one thing is certain, neither Dave Evans nor myself are career politicians. Neither Evans or myself will continue the 6th District vote for Obama. Neither Evans nor myself will give Pelosi the free rubberstamp that does Gordon.
This is not an endorsement of Evans, but it is recognition of our Common Goals. It is recognition that he is a worthy opponent, a gentleman with Tennessee Values, rather than the panderer to Washington Insiders that we have now.
I’m a bit more rough around the edges. I did take off the John Deere hat before I met him and his wonderful wife and I dressed up in a polo shirt while he dressed down in suit jacket.
He has a party behind him, and I do not.You can contact me TNTaylorFor-TN6th2010 @ yahoo.comLet me know your thoughts. Are we ready to send Common Sense to Washington? Are we ready to ask Rep Gordon to enjoy retirement? What are the issues you want addressed?TNTaylor©2008, TNT, all rights reserved.
When two Veterans meet, stories will follow, and yesterday, two Veterans met. The stories we shared did not stop with Desert Storm, and they barely touched on the terrain of Afghanistan. They stepped back to the Civil War, when our ancestors and relatives likely stood face to face in battle and shoulder to shoulder against brothers, fighting the bloodiest war in Our Nation’s History. Our lives have paralleled as have the lives of our ancestors.
And General Dave Evans is an astute gentleman, and clearly a worthy adversary. He’s an observant man who recognizes not only the symbols but knows the meanings behind them.
We share not only similar backgrounds, but similar positions. He holds the Constitution and Bill of Rights dear. And why wouldn’t he? We’ve spent much of our adult lives defending them.
He understands the Pelosi-Reid-Obama alliance cannot withstand opposition of the real Democratic party of Jackson. He understands that our current whipped “Blue Dogs” are supporting Pelosi and Murtha and Barney Frank and that without that support, the elitists would fail.
Our parents were Democrats. Our fore-fathers were Democrats. But today’s DNC is not the party of our forefathers. It is not the party of our fathers.
We both stand on principle. It comes not only from our ancestral roots of Middle Tennessee but from Army Values. He is as concerned with Congressional largesse of Congress as am I, even if he has focused more pointedly at different aspects of it.
But there are also differences. Minor differences, really, but they are there. He was a Voluntarily Enlisted Private in the Marine Corps in 1968, during the hot period of the Viet Nam War. I was a Voluntarily Enlisted Private in the Army in the Cold War. I arrived in Germany at a time when we were still considered the “trip-wire,” there only to slow the Soviet hordes long enough for reinforcements to arrive and push them back over our bodies.
He chose the path of a Commissioned Officer (and a Gentleman, by an act of Congress), and I maintained the path of a Non-Commissioned Officer. (“I work for a living!”). He has more respect for General Shinseki than do I. (I have none, nor must I demonstrate any, anymore.) After Desert Storm, he went to Bosnia. I trained until I was sent to Afghanistan, grateful not to be sent to Bosnia.
He has a good 20 years on me, which still makes me more experienced than when Gore gave the district to Gordon. Both General Evans and I have more in common with Andrew Jackson than does Gore or Gordon, but Jackson and Evans were both Generals and I avoided the Officer rolls.
I’m thinking he was appalled to realize that Tennessee Tax Dollars are being used by Planned Parenthood to fund abortion. I doubt he knew that Bart Gordon had voted for it. Then again, I didn’t know that our Representative had taken a trip to Europe on our dime.
I’d venture to say I’m more internet savvy than is he. I have little doubt he is more politically astute than am I. It is amazing we haven’t crossed paths before. We’re certain to cross paths many times in the future. I know I’ll need to be well prepared for the debates, particularly if his attention is not diverted by Gordon’s presence. I’ll be sure to invite lots of cameras. Bart always seems to be where the cameras are.
In the meantime, the choice between General Evans and myself is likely to rest on personality, on style, rather than substance. When I face Bart Gordon, it will be all substance. It is a choice for the good citizens of Middle Tennessee to make. It is time for YOU to weigh in. And you can tell us now, that you know, or you can tell us that you need to see more of us.
But one thing is certain, neither Dave Evans nor myself are career politicians. Neither Evans or myself will continue the 6th District vote for Obama. Neither Evans nor myself will give Pelosi the free rubberstamp that does Gordon.
This is not an endorsement of Evans, but it is recognition of our Common Goals. It is recognition that he is a worthy opponent, a gentleman with Tennessee Values, rather than the panderer to Washington Insiders that we have now.
I’m a bit more rough around the edges. I did take off the John Deere hat before I met him and his wonderful wife and I dressed up in a polo shirt while he dressed down in suit jacket.
He has a party behind him, and I do not.You can contact me TNTaylorFor-TN6th2010 @ yahoo.comLet me know your thoughts. Are we ready to send Common Sense to Washington? Are we ready to ask Rep Gordon to enjoy retirement? What are the issues you want addressed?TNTaylor©2008, TNT, all rights reserved.
Tuesday, March 17, 2009
Outright Lies
Larry Summers:
I guess he thinks people won't notice that the Government increased the Cigarette Tax by $8.00 a carton.
I guess he wasn't listening when Charles Schumer threatened to take by force the Bonuses of AIG, if they didn't give it back willingly, due to threat of force. Frankly, it sounds the same as a common thug, mugging someone downtown Washington DC. "Give it to me, or I'll take it."
Clarity again: It's morally wrong for those executives to take the bonuses. It's contractually obligated they be given those bonuses. It's not in the least bit illegal for them to keep them.
It's not constitutional for Congress to have forced the Taxpayer to buy AIG. It is reprehensible that they did not read their own legalese before they forced us into that $700 Billion in debt (+interest).
Schumer, Obama, Gordon, Cooper, Cohen all voted for the $700 Billion CEO Bailout bill, the same one they're now complaining about.
Tennessee Taylor©2009, TNT, all rights reserved
"There are no tax increases this year." Obama Adminstration, Larry Summers, CNBC 3/17/2009
I guess he thinks people won't notice that the Government increased the Cigarette Tax by $8.00 a carton.
I guess he wasn't listening when Charles Schumer threatened to take by force the Bonuses of AIG, if they didn't give it back willingly, due to threat of force. Frankly, it sounds the same as a common thug, mugging someone downtown Washington DC. "Give it to me, or I'll take it."
Clarity again: It's morally wrong for those executives to take the bonuses. It's contractually obligated they be given those bonuses. It's not in the least bit illegal for them to keep them.
It's not constitutional for Congress to have forced the Taxpayer to buy AIG. It is reprehensible that they did not read their own legalese before they forced us into that $700 Billion in debt (+interest).
Schumer, Obama, Gordon, Cooper, Cohen all voted for the $700 Billion CEO Bailout bill, the same one they're now complaining about.
Tennessee Taylor©2009, TNT, all rights reserved
Monday, March 16, 2009
Is It Malfeasance or Ignorance?
Our Congressmen seem outraged that the Executives of AIG and others are receiving bonuses while presiding over losses. Our Congress has resided over 200 years of losses, 200 years of debt. Why do they continue to get pay raises?
Our Congressman, along with every other member of his party from this state, short of Lincoln Davis, plus the Representative from Chattanooga voted for the CEO Bailout Bill. Marsha Blackburn led the minority party of our state, minus Zach Wamp in opposition to the CEO Bailout Bill, championed by then Senator Obama and supported by his opposition to the Presidency.
They tried to sell it to us as an "emergency" requiring "immediate action." They didn't have time to read the 700+/- pages of legalese and we have to wonder who had time to write it. But why now are they surprised that so much is being spent in Executive Bonuses? Perhaps because they didn't read what they voted for? Or perhaps because they knew it benefitted their campaign paying constiuencies?
We had little choice in the election of 2008. The press didn't cover the positions of Chris Baker. There is unlikely to be much coverage of the 2010 nominees for a while.
It didn't take long for the Common Sense Citizens of Tennessee to voice opposition to the CEO Bailout Bill. I withheld opinion until I could see the bill, but it didn't take but a few sections to realize we were being sold down the river. So why, did OUR Representative vote for it? Why was it that he bucked the views of the people of our district and why did he not realize it did not stop the largesse of CEO's and Executives?
Does he believe we have such short memories? Does he believe he can gloss over his support of the CEO Bailout Bill, the UAW Bailout Bill, and the Debt Stimulus Bill? Does he think that we will forget that he has voted FOR quadrupling the deficit in less than 12 months?
But let's be clear: It's not illegal for the executives to take the bonuses promised them. It is immoral for them to take the bonuses. It is not illegal for them to enjoy lavish retreats while contributing to the political campaigns of those voting for their bailouts. It is immoral.
It is not illegal to vote for earmarks, all 9,000 of them but it is irresponsible to do so. It is time to send a Common Sense Citizen to Congress. It is time to send a nice guy to pasture. It is time for Our Representative to Endorse a true representative of the People of Middle Tennessee. It is time for the follower of Gore to be replaced with a follower of Andrew Jackson. It is time for us to realize that the whipped Blue Dogs are not the Democrats of our forefathers.
Tennessee Taylor©2009, TNT, all rights reserved
Our Congressman, along with every other member of his party from this state, short of Lincoln Davis, plus the Representative from Chattanooga voted for the CEO Bailout Bill. Marsha Blackburn led the minority party of our state, minus Zach Wamp in opposition to the CEO Bailout Bill, championed by then Senator Obama and supported by his opposition to the Presidency.
They tried to sell it to us as an "emergency" requiring "immediate action." They didn't have time to read the 700+/- pages of legalese and we have to wonder who had time to write it. But why now are they surprised that so much is being spent in Executive Bonuses? Perhaps because they didn't read what they voted for? Or perhaps because they knew it benefitted their campaign paying constiuencies?
We had little choice in the election of 2008. The press didn't cover the positions of Chris Baker. There is unlikely to be much coverage of the 2010 nominees for a while.
It didn't take long for the Common Sense Citizens of Tennessee to voice opposition to the CEO Bailout Bill. I withheld opinion until I could see the bill, but it didn't take but a few sections to realize we were being sold down the river. So why, did OUR Representative vote for it? Why was it that he bucked the views of the people of our district and why did he not realize it did not stop the largesse of CEO's and Executives?
Does he believe we have such short memories? Does he believe he can gloss over his support of the CEO Bailout Bill, the UAW Bailout Bill, and the Debt Stimulus Bill? Does he think that we will forget that he has voted FOR quadrupling the deficit in less than 12 months?
But let's be clear: It's not illegal for the executives to take the bonuses promised them. It is immoral for them to take the bonuses. It is not illegal for them to enjoy lavish retreats while contributing to the political campaigns of those voting for their bailouts. It is immoral.
It is not illegal to vote for earmarks, all 9,000 of them but it is irresponsible to do so. It is time to send a Common Sense Citizen to Congress. It is time to send a nice guy to pasture. It is time for Our Representative to Endorse a true representative of the People of Middle Tennessee. It is time for the follower of Gore to be replaced with a follower of Andrew Jackson. It is time for us to realize that the whipped Blue Dogs are not the Democrats of our forefathers.
Tennessee Taylor©2009, TNT, all rights reserved
Sunday, March 1, 2009
2010 Obama Budget
The 2010 Budget Request is out and we'll again have a chance to see if our Representative is a Blue Dog or Whipped Dog. Over the last few months, even before the election, our politicians have been throwing around the term "trillion" more than most Americans drop dimes. More rational members of the debate have attempted to provide an idea of what a trillion is.
The accumulated National Debt through 2008 was $10.2 Trillion, reflecting more than 200 years of deficit spending. The original 2009 budget called for a record deficit of $407 Billion deficit. Obama is pushing it another $1.75 Trillion higher in 2009 and that's based on tax revenues expected from pre-recession 2008. Before he begins passing supplemental spending bills and with the expectation of 2008 tax revenues (which are shrinking with our paychecks), he has asked for another $1.25 Trillion of deficit in 2010.
In just his first 3 months, Obama will have increased our national debt by 30% of what it took us 200+ years to accumulate.
The Whipped Blue Dogs continue to rubberstamp every whim of Nancy Pelosi, Harry Reid, and Obama. The Whipped Blue Dogs continue to obey their masters from California, Washington, and New York. The Whipped Blue Dogs continue to ignore their electorate in favor of their CEO Constituents.
The Budget Request must be voted down. We simply cannot afford it. We must set priorities. And the priorities of this budget are simply backwards.
As Secretary of State Hillary Clinton goes to the Middle East to announce a $900 Million giveaway to Gaza, i.e. Hamas, Obama was announcing that Our Troops will not get the pay raise they are scheduled to get. Why are we giving money to terrorists while cutting the pay raises of our Troops? Why is our Representative on board with that?
But the Budget Obama has proposed does not simply increase the deficit in 2010, it adds more deficit to this years. Obama has complained that he inherited the deficit, but the fact is he voted for it. He threw his weight behind the $700 Billion CEO Bailout, which was 100% deficit spending. He threw his weight behind the $17 Billion UAW Bailout which resulted in the Big 3 not purchasing parts from Tennessee suppliers. He forced down our throats the $800+ Billion Debt Stimulus Package. He did this with the full support of our Congressman.
As a result, he is now asking for more deficit spending. He has asked for a deficit of $1.75 Trillion in 2009. He didn't inherit it. He voted for it. He forced it on us. And Representative Gordon has voted for every thing he was told to vote for by Corrupt Chicago Politicians and the Far Left California Speaker of the House. My "hope" that Rep Gordon would lead against the radical left wing of his party has been dashed.
The "change" is that the Blue Dogs have been whipped into line.
We are at War, whether Americans feel it or not, whether Obama and Congress acknowledge it or not. This is not the time to be cutting the defense budget. This is not the time to be giving money to Hamas while cutting the raises of Our Troops.
We are in an economic downturn and every American feels it. This is not the time to be frivolously spending money we don't have. This is not the time to be increasing taxes on employers and decreasing the incentive for the rich to give to charities. This is not the time to be cutting Medicare benefits, earned by our retirees to fund Nationalized Health Insurance. And these are the things that Obama has proposed and Congressman Gordon is on board with.
Obama has claimed he will cut the deficit in half. The 2008 budget deficit was the previous record of $455 Billion. Obama predicts (based on 3.2% growth next year and 4% growth thereafter which we have no indication will come) a $581 Billion dollar deficit in 2012. That would be a record deficit, if it weren't for the fact that he and Congressman Gordon were implementing quarterly deficits in 2009 and 2010 that supercede the record annual deficits of all years prior.
In fact, if Obama's rosy outlook of growth occurs, despite no indications it will, he will have increased the National Debt by more than 50% in just his first term, with the Blue Dog's Support.
Meanwhile, he has also laid out his plan for Iraq, a 36 month withdrawal. See War On Terror News for the details. Troop Levels in Iraq will remain pretty steady into 2010 with 35,000 to 50,000 Troops, falsely labeled "non-combat" into 2011, but his budget calls for only $50 Billion to support those Troops in 2011 compared to $130 Billion in 2010. And that money is for both Iraq and Afghanistan Operations. Surely, Our Congressman, with his two years of Reserve Service understands that Our Troops deserve more support while they defend Our Nation against Terrorists.
Tennessee Taylor©2009, TNT, all rights reserved
The accumulated National Debt through 2008 was $10.2 Trillion, reflecting more than 200 years of deficit spending. The original 2009 budget called for a record deficit of $407 Billion deficit. Obama is pushing it another $1.75 Trillion higher in 2009 and that's based on tax revenues expected from pre-recession 2008. Before he begins passing supplemental spending bills and with the expectation of 2008 tax revenues (which are shrinking with our paychecks), he has asked for another $1.25 Trillion of deficit in 2010.
In just his first 3 months, Obama will have increased our national debt by 30% of what it took us 200+ years to accumulate.
The Whipped Blue Dogs continue to rubberstamp every whim of Nancy Pelosi, Harry Reid, and Obama. The Whipped Blue Dogs continue to obey their masters from California, Washington, and New York. The Whipped Blue Dogs continue to ignore their electorate in favor of their CEO Constituents.
The Budget Request must be voted down. We simply cannot afford it. We must set priorities. And the priorities of this budget are simply backwards.
As Secretary of State Hillary Clinton goes to the Middle East to announce a $900 Million giveaway to Gaza, i.e. Hamas, Obama was announcing that Our Troops will not get the pay raise they are scheduled to get. Why are we giving money to terrorists while cutting the pay raises of our Troops? Why is our Representative on board with that?
But the Budget Obama has proposed does not simply increase the deficit in 2010, it adds more deficit to this years. Obama has complained that he inherited the deficit, but the fact is he voted for it. He threw his weight behind the $700 Billion CEO Bailout, which was 100% deficit spending. He threw his weight behind the $17 Billion UAW Bailout which resulted in the Big 3 not purchasing parts from Tennessee suppliers. He forced down our throats the $800+ Billion Debt Stimulus Package. He did this with the full support of our Congressman.
As a result, he is now asking for more deficit spending. He has asked for a deficit of $1.75 Trillion in 2009. He didn't inherit it. He voted for it. He forced it on us. And Representative Gordon has voted for every thing he was told to vote for by Corrupt Chicago Politicians and the Far Left California Speaker of the House. My "hope" that Rep Gordon would lead against the radical left wing of his party has been dashed.
The "change" is that the Blue Dogs have been whipped into line.
We are at War, whether Americans feel it or not, whether Obama and Congress acknowledge it or not. This is not the time to be cutting the defense budget. This is not the time to be giving money to Hamas while cutting the raises of Our Troops.
We are in an economic downturn and every American feels it. This is not the time to be frivolously spending money we don't have. This is not the time to be increasing taxes on employers and decreasing the incentive for the rich to give to charities. This is not the time to be cutting Medicare benefits, earned by our retirees to fund Nationalized Health Insurance. And these are the things that Obama has proposed and Congressman Gordon is on board with.
Obama has claimed he will cut the deficit in half. The 2008 budget deficit was the previous record of $455 Billion. Obama predicts (based on 3.2% growth next year and 4% growth thereafter which we have no indication will come) a $581 Billion dollar deficit in 2012. That would be a record deficit, if it weren't for the fact that he and Congressman Gordon were implementing quarterly deficits in 2009 and 2010 that supercede the record annual deficits of all years prior.
In fact, if Obama's rosy outlook of growth occurs, despite no indications it will, he will have increased the National Debt by more than 50% in just his first term, with the Blue Dog's Support.
Meanwhile, he has also laid out his plan for Iraq, a 36 month withdrawal. See War On Terror News for the details. Troop Levels in Iraq will remain pretty steady into 2010 with 35,000 to 50,000 Troops, falsely labeled "non-combat" into 2011, but his budget calls for only $50 Billion to support those Troops in 2011 compared to $130 Billion in 2010. And that money is for both Iraq and Afghanistan Operations. Surely, Our Congressman, with his two years of Reserve Service understands that Our Troops deserve more support while they defend Our Nation against Terrorists.
Tennessee Taylor©2009, TNT, all rights reserved
Wednesday, February 11, 2009
CEO Bailout: Congress Extracts Their Pound of Flesh
Today, 11 FEB 2009, Congress is interrogating the Banking Industry. It is being broadcast live on CNBC and is quite telling of the lack of quality of politicians we have sent to Washington.
The CEO Bailout (TARP) should never have happened in the manner it did. It was a key point in assessing the Campaign to send a Common Sense Citizen to represent the 6th District. Representative Gordon voted for the bill and there was little choice in who to replace him with. The only other person on the ballot in 2008 had received virtually no press in the media.
Things to consider in this are that Banks did not have opportunity to "opt out" of the hostile takeover by Government. I opposed the CEO Bailout privately from the beginning, from the point we discovered the details the House of Representatives first voted on. The Senate only made it worse.
The US Congress decided to force banks to hand over Preferred Shares of their Corporations and take money in return. Preferrred Shares pay dividends but afford no voting rights, no decision making capacity.
Today, one Congressman (I didn't recognize him) demanded that the Common Shareholders of the banks be paid NO dividends until TARP money is returned. Common Shareholders are Americans that have invested their money in the the Corporations. They are the ones taking the risks, the ones that have paid for voting rights, and who have been hurt most in the banking industry downturn.
When Congress demands shareholders be short changed by a lack of dividends, they are removing the money that Retirees count on for their month to month income.
For Congress to chastise any organization for operating in the red, for spending more than they make is pure hypocrisy. The US Government has operated on Debt since Andrew Jackson was President. And while not all debt is bad debt, this Congress and its predecessor have implemented and continue to implement the greatest increase in the history of Our Nation.
The same Congressmen chastising the Banking Industry for a few bad quarters have voted for two quarters of deficits larger than any year EVER in our history. The same Congressmen that demanded banks loan money to unqualified individuals in the 90's and early days of this Century are now demanding to know why more money has not been lent and why those earlier loans went bust.
In the interests of full disclosure, I own common stock in a bank, Regions Financial and previously owned stock in Bank of America. My opinions as a shareholder differ from my opinions as a taxpayer. As a taxpayer, I'm appalled that I was forced into debt by Congress so they could create an Investment firm. As a shareholder, I expect the CEO's salary to reflect his success or failure. I believe in the Lee Iacocca model: if you lose money, you don't get paid as the CEO.
I sold my BoA stock because they were going down the wrong road in my opinion. I neither had as much as did the Clintons, nor did I time the market as perfectly as did they.
As a shareholder, I want banks to act appropriately, to make decisions that will make money and to do so morally. If a corporation is a good corporate citizen, it will make more money. If it treats its employees, its customers, and its suppliers right, it will be successful. Greedy companies will lose in the long run.
I don't want the US Congress running corporations. Their job is to set the rules by which companies run, not to run them. The US Congress has an abysmal record of running things, particularly when it comes to money.
But today, Congress is teaching their Corporate Constituents a lesson: all things come with a price. The banks may not have had opportunity to reject Federal money, but that money came with strings and a bear hug while politicians put that long dagger in the backs of the Banking System.
And Congress has really broke one off in the Banking Industry. They first forced the money (borrowed in your name) on the banks. Then they set penalties if it is returned before three years is up. Now they are demanding billions in dividends be given the Government while at the same time demanding that Roths, IRA's, and Investors be shortchanged of their dividends. Like any other bully, major shareholder, the US Congress is demanding their way.
Unfortunately, Congress is full of lawyers, not businessmen. This is not the time to be selling jets. It's a time to be buying jets from those hurting for cash. Just as the best deals are from those in dire straights by those that have planned for them, so too is now a good time to be getting good deals on jets, construction equipment, and cars.
Meanwhile, the Senate has announced the finalization of the Debt Stimulus bill. I'm proud to say our two Senators voted against it. The Debt Stimulus bill adds another record amount of debt to our Nation. More debt than either of the two quarters of debt, each of which would have been an annual record on its own. I doubt Our Representative, a whipped "Blue Dog Democrat" will vote against it this time, given his record of voting for it previously.
The CEO Bailout (TARP) should never have happened in the manner it did. It was a key point in assessing the Campaign to send a Common Sense Citizen to represent the 6th District. Representative Gordon voted for the bill and there was little choice in who to replace him with. The only other person on the ballot in 2008 had received virtually no press in the media.
Things to consider in this are that Banks did not have opportunity to "opt out" of the hostile takeover by Government. I opposed the CEO Bailout privately from the beginning, from the point we discovered the details the House of Representatives first voted on. The Senate only made it worse.
The US Congress decided to force banks to hand over Preferred Shares of their Corporations and take money in return. Preferrred Shares pay dividends but afford no voting rights, no decision making capacity.
Today, one Congressman (I didn't recognize him) demanded that the Common Shareholders of the banks be paid NO dividends until TARP money is returned. Common Shareholders are Americans that have invested their money in the the Corporations. They are the ones taking the risks, the ones that have paid for voting rights, and who have been hurt most in the banking industry downturn.
When Congress demands shareholders be short changed by a lack of dividends, they are removing the money that Retirees count on for their month to month income.
For Congress to chastise any organization for operating in the red, for spending more than they make is pure hypocrisy. The US Government has operated on Debt since Andrew Jackson was President. And while not all debt is bad debt, this Congress and its predecessor have implemented and continue to implement the greatest increase in the history of Our Nation.
The same Congressmen chastising the Banking Industry for a few bad quarters have voted for two quarters of deficits larger than any year EVER in our history. The same Congressmen that demanded banks loan money to unqualified individuals in the 90's and early days of this Century are now demanding to know why more money has not been lent and why those earlier loans went bust.
In the interests of full disclosure, I own common stock in a bank, Regions Financial and previously owned stock in Bank of America. My opinions as a shareholder differ from my opinions as a taxpayer. As a taxpayer, I'm appalled that I was forced into debt by Congress so they could create an Investment firm. As a shareholder, I expect the CEO's salary to reflect his success or failure. I believe in the Lee Iacocca model: if you lose money, you don't get paid as the CEO.
I sold my BoA stock because they were going down the wrong road in my opinion. I neither had as much as did the Clintons, nor did I time the market as perfectly as did they.
As a shareholder, I want banks to act appropriately, to make decisions that will make money and to do so morally. If a corporation is a good corporate citizen, it will make more money. If it treats its employees, its customers, and its suppliers right, it will be successful. Greedy companies will lose in the long run.
I don't want the US Congress running corporations. Their job is to set the rules by which companies run, not to run them. The US Congress has an abysmal record of running things, particularly when it comes to money.
But today, Congress is teaching their Corporate Constituents a lesson: all things come with a price. The banks may not have had opportunity to reject Federal money, but that money came with strings and a bear hug while politicians put that long dagger in the backs of the Banking System.
And Congress has really broke one off in the Banking Industry. They first forced the money (borrowed in your name) on the banks. Then they set penalties if it is returned before three years is up. Now they are demanding billions in dividends be given the Government while at the same time demanding that Roths, IRA's, and Investors be shortchanged of their dividends. Like any other bully, major shareholder, the US Congress is demanding their way.
Unfortunately, Congress is full of lawyers, not businessmen. This is not the time to be selling jets. It's a time to be buying jets from those hurting for cash. Just as the best deals are from those in dire straights by those that have planned for them, so too is now a good time to be getting good deals on jets, construction equipment, and cars.
Meanwhile, the Senate has announced the finalization of the Debt Stimulus bill. I'm proud to say our two Senators voted against it. The Debt Stimulus bill adds another record amount of debt to our Nation. More debt than either of the two quarters of debt, each of which would have been an annual record on its own. I doubt Our Representative, a whipped "Blue Dog Democrat" will vote against it this time, given his record of voting for it previously.
TNTaylor©2009, TennesseeTaylor, all rights reserved.
Friday, February 6, 2009
How Would You Spend YOUR Money?
Let's consider for a second the sheer size of the Debt Stimulus Bill, which purports to "stimulate the economy." At current, it is $939 Billion as compared with expected tax revenue of $2.7 Trillion which has already been appropriated for spending, and it doubles the amount we have already added to the deficit in 2009, in two quarters, each of which would have been a record deficit.
When one considers that the Debt Stimulus Bill would spend 1/3rd of all tax revenues and that only 1/2 of tax revenues are actually apparent on our pay stubs, we can more accurately identify what this means to your finances by looking at your 2008 W2.
This bill is nearly equal with ALL Social Security tax revenue, 1/2 of which is seen on your paystub. If you look at your paystub, double the amount withheld, that is your portion of the Debt Stimulus Bill.
It is also equivalent to more than 75% of all Federal Income Withholding taxes. Look at your paystub and imagine what you could do with that amount of money in your wallet. That is how much debt, Representative Gordon is voting to add to your bill.
Now, if you are going to go into debt by that much, do you want that money spent on dogparks, condoms, AmTrak, and a new power plant for Consolidated Edison in Illinois, or would you spend it on something that would be more beneficial to you.
And if 145 Million Americans had that much more money in their wallets to spend on what mattered most to them. That would certainly stimulate the economy and ease their financial woes. The US Congress has the power to put that money in your wallet by the end of the month. The US Congress could simply reduce all Federal payroll taxes by 75%, costing less money to the Federal Government while more positively effecting your bottom line and not paying all the bureacratic middlemen in the process.
If, on the other hand, they wished to collect the money and then redistribute it to you after paying those middlemen, look back at the W2, and imagine a check for 1/3rd of what you paid in last year, rather than 75% of it. Regardless of whether Congress spends your money on Condoms, Dog Parks, Bureaucrats, or simply doesn't collect if from you, it will cost you the same amount in debt, but it costs more for the monolithic monopoly to process that money than to "allow" you to keep it in the first place.
TNTaylor©2009, TennesseeTaylor, all rights reserved.
When one considers that the Debt Stimulus Bill would spend 1/3rd of all tax revenues and that only 1/2 of tax revenues are actually apparent on our pay stubs, we can more accurately identify what this means to your finances by looking at your 2008 W2.
This bill is nearly equal with ALL Social Security tax revenue, 1/2 of which is seen on your paystub. If you look at your paystub, double the amount withheld, that is your portion of the Debt Stimulus Bill.
It is also equivalent to more than 75% of all Federal Income Withholding taxes. Look at your paystub and imagine what you could do with that amount of money in your wallet. That is how much debt, Representative Gordon is voting to add to your bill.
Now, if you are going to go into debt by that much, do you want that money spent on dogparks, condoms, AmTrak, and a new power plant for Consolidated Edison in Illinois, or would you spend it on something that would be more beneficial to you.
And if 145 Million Americans had that much more money in their wallets to spend on what mattered most to them. That would certainly stimulate the economy and ease their financial woes. The US Congress has the power to put that money in your wallet by the end of the month. The US Congress could simply reduce all Federal payroll taxes by 75%, costing less money to the Federal Government while more positively effecting your bottom line and not paying all the bureacratic middlemen in the process.
If, on the other hand, they wished to collect the money and then redistribute it to you after paying those middlemen, look back at the W2, and imagine a check for 1/3rd of what you paid in last year, rather than 75% of it. Regardless of whether Congress spends your money on Condoms, Dog Parks, Bureaucrats, or simply doesn't collect if from you, it will cost you the same amount in debt, but it costs more for the monolithic monopoly to process that money than to "allow" you to keep it in the first place.
TNTaylor©2009, TennesseeTaylor, all rights reserved.
Monday, February 2, 2009
Stimulating the National Debt
It has been proven many times over that when one party controls both the Congress and the Executive that spending increases. Never in our history have we seen spending go so completely out of control so quickly as to prove this so quickly. The 111th Congress has moved quickly to establish its partisanship and Speaker Pelosi continues to whip the Beaten Blue Dogs into line.
The media has picked up on my analogy of Congress as College Kids spending on their parents credit cards. Without factoring in the Stimulus Plan, the deficit is already expected to break records in 2009. We're seeing the effects of the CEO Bailout, the UAW Bailout, combined with "run of the mill" out of control spending already:
To give you some perspective, we had to borrow money to force taxpayers to buy into banks we didn't want to pay those Billions in bonuses to the CEO's already. The $1.062 Trillion we will have borrowed in the first six months is already more than any other deficit in our Nation's History. And this does not include the stimulus package.
The Debt Stimulus package is approximately $5,600 PER taxpayer, all debt, all the time. Or about $2,730 PER American, including each of those new octuplets recently born, all debt, before interest.
Both the Stimulus Package and the CEO Bailout Bill are more than we spent in 5+ years of War in Iraq, by hundreds of billions EACH. Both are greater than the largest single budget item: Social Security which sits at $644 Billion. The Debt Stimulus package is 3.15 times what we pay in interest on the debt already accrued.
The Government estimates it will collect only $2.7 Trillion this year and has already approved spending $3.1 Trillion before the Stimulus and before the UAW Bailout and before the CEO Bailout. In fact, the 3 supplemental spending bills will be more than 3x what the deficit already was budgeted for in 2009. And we borrowed more in the first quarter of the fiscal year as was budgeted to borrow for the entire year. We will borrow more in the second quarter of the fiscal year than was budgeted for the entire year, before the Debt Stimulus package.
One is forced to wonder if The Party (DNC) is purposely attempting to bankrupt the Federal Government.
On the other hand, an economic stimulus package is needed, not an $819 Billion pork spending package. Increased spending on condoms should be left to individuals, not the Federal Government. We need to prioritize our spending but cutting the Military during a time of War is not the answer. Whether Murtha and Frank get their 25% or Obama cuts the DoD by 10%, this will cost jobs, not increase them. It will put more people on the unemployment rolls.
Obama promised to fully support the Troops in his first visit to the Pentagon and again in his Superbowl message to Troops:
That is not accomplished by cutting the DoD budget as he told the Joint Chiefs to plan for during the same visit. Politicians are paid to decide the ratio of spending on bullets to beans, but instead Our Congressmen are choosing to buy condoms. Somehow, I don't think Trojan is in trouble.
So long as Speaker Pelosi can keep the "moderates" in line, she has no need to cross the aisle. Sadly, Our Representative is toeing her line. The Party (DNC) has absolute power and she is expressing the CA Idealists ways.
Mike Huckabee noted on his new Fox Show that $1 Trillion dollars would buy Microsoft, Google, Apple, Coca-Cola, and Pepsi all and completely. Glen Beck showed us a chart that demonstrated the new Treasury Secretary's plan to print more money. I haven't found a source for his numbers, but if they are accurate, it would appear that soon everything will be worth half of what it currently is.
I fully expect that the Debt Stimulus Bill will pass and be signed by President Obama. It will have made it to his desk with Representative Gordon's vote, at least in the first round. There will likely be a second round after the Senate gets done with it but it's unlikely to have the fat trimmed off of it. The last time, the Senate merely increased the fat (CEO Bailout Bill).
And the UAW Bailout Bill saved no jobs either. The Auto Companies still cut back on parts orders and production, despite the $17 Billion. They did so, because Americans aren't buying their cars and padding the wages of the 70k/year UAW members only increases their ability to buy a new car on the backs of their customers who still can't afford their product.
Their pleas to save the jobs of waitresses paid in tips by auto parts supplier's workers were nothing more than marketing and advertising for their own overpaid salaries.
So, if the Debt Stimulus package passes, who will first see the recovery? Other than Trojan, construction companies. Not the homebuilders, the commercial and industrial companies. A portion of the bill is dedicated to infrastructure improvements and school construction. It will have an effect, but not the effect that should be expected by $819 Billion, because too much is dedicated to programs that have no business being included in "economic stimulus."
Perhaps it's time for our Congressmen to cut their own salaries back to the $1/year they have demanded of CEO's, until they can get their spending under control.
The media has picked up on my analogy of Congress as College Kids spending on their parents credit cards. Without factoring in the Stimulus Plan, the deficit is already expected to break records in 2009. We're seeing the effects of the CEO Bailout, the UAW Bailout, combined with "run of the mill" out of control spending already:
WASHINGTON – The Treasury Department said Monday it will need to borrow $493 billion in the first three months of this year, a record amount for the January-March period.
The Treasury Department figure comes on top of $569 billion the government borrowed from October through December, the all-time high for any quarter. AP 2009 Feb 02
To give you some perspective, we had to borrow money to force taxpayers to buy into banks we didn't want to pay those Billions in bonuses to the CEO's already. The $1.062 Trillion we will have borrowed in the first six months is already more than any other deficit in our Nation's History. And this does not include the stimulus package.
The Debt Stimulus package is approximately $5,600 PER taxpayer, all debt, all the time. Or about $2,730 PER American, including each of those new octuplets recently born, all debt, before interest.
Both the Stimulus Package and the CEO Bailout Bill are more than we spent in 5+ years of War in Iraq, by hundreds of billions EACH. Both are greater than the largest single budget item: Social Security which sits at $644 Billion. The Debt Stimulus package is 3.15 times what we pay in interest on the debt already accrued.
The Government estimates it will collect only $2.7 Trillion this year and has already approved spending $3.1 Trillion before the Stimulus and before the UAW Bailout and before the CEO Bailout. In fact, the 3 supplemental spending bills will be more than 3x what the deficit already was budgeted for in 2009. And we borrowed more in the first quarter of the fiscal year as was budgeted to borrow for the entire year. We will borrow more in the second quarter of the fiscal year than was budgeted for the entire year, before the Debt Stimulus package.
One is forced to wonder if The Party (DNC) is purposely attempting to bankrupt the Federal Government.
On the other hand, an economic stimulus package is needed, not an $819 Billion pork spending package. Increased spending on condoms should be left to individuals, not the Federal Government. We need to prioritize our spending but cutting the Military during a time of War is not the answer. Whether Murtha and Frank get their 25% or Obama cuts the DoD by 10%, this will cost jobs, not increase them. It will put more people on the unemployment rolls.
Obama promised to fully support the Troops in his first visit to the Pentagon and again in his Superbowl message to Troops:
“All of you who are serving in the U.S. armed forces are going to have my full
support, and one of my duties as president is going to be to make sure that you
have what you need to accomplish your missions,” he said.
That is not accomplished by cutting the DoD budget as he told the Joint Chiefs to plan for during the same visit. Politicians are paid to decide the ratio of spending on bullets to beans, but instead Our Congressmen are choosing to buy condoms. Somehow, I don't think Trojan is in trouble.
So long as Speaker Pelosi can keep the "moderates" in line, she has no need to cross the aisle. Sadly, Our Representative is toeing her line. The Party (DNC) has absolute power and she is expressing the CA Idealists ways.
Mike Huckabee noted on his new Fox Show that $1 Trillion dollars would buy Microsoft, Google, Apple, Coca-Cola, and Pepsi all and completely. Glen Beck showed us a chart that demonstrated the new Treasury Secretary's plan to print more money. I haven't found a source for his numbers, but if they are accurate, it would appear that soon everything will be worth half of what it currently is.
I fully expect that the Debt Stimulus Bill will pass and be signed by President Obama. It will have made it to his desk with Representative Gordon's vote, at least in the first round. There will likely be a second round after the Senate gets done with it but it's unlikely to have the fat trimmed off of it. The last time, the Senate merely increased the fat (CEO Bailout Bill).
And the UAW Bailout Bill saved no jobs either. The Auto Companies still cut back on parts orders and production, despite the $17 Billion. They did so, because Americans aren't buying their cars and padding the wages of the 70k/year UAW members only increases their ability to buy a new car on the backs of their customers who still can't afford their product.
Their pleas to save the jobs of waitresses paid in tips by auto parts supplier's workers were nothing more than marketing and advertising for their own overpaid salaries.
So, if the Debt Stimulus package passes, who will first see the recovery? Other than Trojan, construction companies. Not the homebuilders, the commercial and industrial companies. A portion of the bill is dedicated to infrastructure improvements and school construction. It will have an effect, but not the effect that should be expected by $819 Billion, because too much is dedicated to programs that have no business being included in "economic stimulus."
Perhaps it's time for our Congressmen to cut their own salaries back to the $1/year they have demanded of CEO's, until they can get their spending under control.
Thursday, January 29, 2009
The Record is Written. Party Loyalty Trumps TN Common Sense
First, let me Congratulate Jim Cooper for having the spine to buck The Party. He was one of only 11 Democrats to vote against the "Stimulus" package which adds approximately 10% to the National Debt acquired over the last 200 years. The Porker Bill passed the House yesterday along strict party lines. Every Republican voted against Pelosi's Plan to save Condom Manufacturers.
As I said before, this spending bill started out in the right place, or at least close to it. But when The Party in Power got ahold of it, knowing there is insufficient opposition in Congress to vote it down, they porked it up. It will take days to get through the Special Interest pork payouts, but that is what we are paying our Representative to do. In this case, I must express disappointment that ours did not oppose it.
The Record:
While I congratulate Rep Cooper (and the Republicans) for his vote for Tennesseans rather than being whipped into line by Nancy Pelosi, I am not running against Rep. Cooper. He is not my Representative.
The 111th Congress is shaping up to be one of the biggest spenders ever, the most partisan ever, and this is likely to only get worse. There is literally nothing to stop Reid, Pelosi, Frank, Murtha, and Obama from doing anything they want. The Blue Dog Democrats are mostly falling in line with the New York Elitists, the California Dreamers, and Chicago Machine.
The only hope of rational thought and opposition to the far left was the Blue Dog Democrats and they are acting like dogs beaten by their Master, Speaker Pelosi. We may have voted against the "change" Obama promised, but we voted to send him a rubber stamp in the form of our Representative. And if the Blue Dog Democrats don't start opposing the whims and whips of the far left, we are in for some seriously rough times.
Representative Gordon, you're a good man from all I can tell, but if you can't withstand the orders of Speaker Pelosi, Representatives Frank and Murtha, you have the option of endorsing me as your replacement. For the good of the Nation, the good of Tennessee, and the good of the district, we need a Representative that will tell the far left of your party, "NO!"
As I said before, this spending bill started out in the right place, or at least close to it. But when The Party in Power got ahold of it, knowing there is insufficient opposition in Congress to vote it down, they porked it up. It will take days to get through the Special Interest pork payouts, but that is what we are paying our Representative to do. In this case, I must express disappointment that ours did not oppose it.
The Record:
Tennessee
Nay TN-1 Roe, David [R]
Nay TN-2 Duncan, John [R]
Nay TN-3 Wamp, Zach [R]
Yea TN-4 Davis, Lincoln [D]
Nay TN-5 Cooper, Jim [D]
Yea TN-6 Gordon, Barton [D]
Nay TN-7 Blackburn, Marsha [R]
Yea TN-8 Tanner, John [D]
Yea TN-9 Cohen, Steve [D]
While I congratulate Rep Cooper (and the Republicans) for his vote for Tennesseans rather than being whipped into line by Nancy Pelosi, I am not running against Rep. Cooper. He is not my Representative.
The 111th Congress is shaping up to be one of the biggest spenders ever, the most partisan ever, and this is likely to only get worse. There is literally nothing to stop Reid, Pelosi, Frank, Murtha, and Obama from doing anything they want. The Blue Dog Democrats are mostly falling in line with the New York Elitists, the California Dreamers, and Chicago Machine.
The only hope of rational thought and opposition to the far left was the Blue Dog Democrats and they are acting like dogs beaten by their Master, Speaker Pelosi. We may have voted against the "change" Obama promised, but we voted to send him a rubber stamp in the form of our Representative. And if the Blue Dog Democrats don't start opposing the whims and whips of the far left, we are in for some seriously rough times.
Representative Gordon, you're a good man from all I can tell, but if you can't withstand the orders of Speaker Pelosi, Representatives Frank and Murtha, you have the option of endorsing me as your replacement. For the good of the Nation, the good of Tennessee, and the good of the district, we need a Representative that will tell the far left of your party, "NO!"
Wednesday, January 7, 2009
The Next Stimulus Package?
The President-Elect is talking up another Trillion Dollar stimulus package. Unlike the UAW Bailout Bill and the CEO Bailout bill supported by Rep. Gordon, the next bill, even if huge and 1/3rd of annual tax collections may actually have some positive parts to it.
It will add 10% to the National debt, a debt that has taken us 200 years to accumulate, but it may actually have spending that positively effects the economy, the citizens, and is in the purview of the government, even if it is mostly in the state or local realm of government.
The President-Elect is talking about tax cuts (which he campaigned against) and spending on infrastructure. In the former, it appears that it was simply rhetoric, campaign promises he knew he would break, or was too naive to know that it wouldn't work. At any rate, tax cuts are generally a positive thing. The more of your money you get to keep the better.
Unfortunately, I expect more out-of-control spending, rather than the correct and necessary spending cuts to go along with the tax cuts that are needed.
As to the 2nd part, infrastructure spending; this may be beneficial, though the amount he's talking about is worrisome. Already California and New York are lining up their pork projects and bailout bids. Though the TVA flooded my ancestral lands, burying them under lakes, the fact remains that it put Americans to work.
If, and that's a big if, this package is done right, it can have a significant effect on the economy and employment, beginning with the construction trades. It may just be the package needed. I'll withhold judgement until we see it.
The problem remains that in a 12 month period over two calender years, Congress, including our Representative have added 20% to the National Debt, not including the Annual Budget and first 10% was squandered on nationalizing banks and bailing out the very organization that strangled the American Car companies.
The problem is we have the same credit cards in the same college kids hands in this Congress as we did the last. They are following the dictates of Speaker Pelosi en masse. Corrupt Chicago Politicians, NY Elitists, and California Idealists continue to attain the rubber stamp of The Party, including our Blue Dog Democrat. Representative Gordon, you must break from the dictates of the far left. Please demonstrate that you are a free thinker and a true Representative of the Common Sense Citizens of Tennessee, not a lackey of Pelosi, Reid, and Obama, not a lackey of New York CEO's and Washington lobbyists.
Tennessee Taylor©2009, TNT, all rights reserved
It will add 10% to the National debt, a debt that has taken us 200 years to accumulate, but it may actually have spending that positively effects the economy, the citizens, and is in the purview of the government, even if it is mostly in the state or local realm of government.
The President-Elect is talking about tax cuts (which he campaigned against) and spending on infrastructure. In the former, it appears that it was simply rhetoric, campaign promises he knew he would break, or was too naive to know that it wouldn't work. At any rate, tax cuts are generally a positive thing. The more of your money you get to keep the better.
Unfortunately, I expect more out-of-control spending, rather than the correct and necessary spending cuts to go along with the tax cuts that are needed.
As to the 2nd part, infrastructure spending; this may be beneficial, though the amount he's talking about is worrisome. Already California and New York are lining up their pork projects and bailout bids. Though the TVA flooded my ancestral lands, burying them under lakes, the fact remains that it put Americans to work.
If, and that's a big if, this package is done right, it can have a significant effect on the economy and employment, beginning with the construction trades. It may just be the package needed. I'll withhold judgement until we see it.
The problem remains that in a 12 month period over two calender years, Congress, including our Representative have added 20% to the National Debt, not including the Annual Budget and first 10% was squandered on nationalizing banks and bailing out the very organization that strangled the American Car companies.
The problem is we have the same credit cards in the same college kids hands in this Congress as we did the last. They are following the dictates of Speaker Pelosi en masse. Corrupt Chicago Politicians, NY Elitists, and California Idealists continue to attain the rubber stamp of The Party, including our Blue Dog Democrat. Representative Gordon, you must break from the dictates of the far left. Please demonstrate that you are a free thinker and a true Representative of the Common Sense Citizens of Tennessee, not a lackey of Pelosi, Reid, and Obama, not a lackey of New York CEO's and Washington lobbyists.
Tennessee Taylor©2009, TNT, all rights reserved
Thursday, December 11, 2008
UAW Bailout - Technological Glitch
Rep. Gordon has a stellar record of being present for and active in votes. Hence it was a surprise that he was recorded absent for last night's vote (see the entry below this one). He has clarified the issue:
He seems to be confused about who Our Citizens work for. The Common Sense Citizens of Middle Tennessee have regularly rejected the UAW. We do not work for that Employment Corporation, because we understand that it strangles the industries that pay us.
He seems to believe that the Taxpayers of Tennessee should contribute to the $70k/year wages of the UAW in Michigan.
Here's an idea: If the UAW wants to salvage jobs, accept a pay and benefits package that allows the Big Three to compete. Before the UAW begs for money from the Good People of Gainsboro making on average, less than $40k/year, how about they share that $30k more a year they make with their fellow workers that would otherwise be laid off.
And what of the last bailout bill? We are now hearing the news: Banks that were forced to take Our Taxdollars (by the vote of Rep Gordon) are buying banks in China.
The UAW and Big 3 have already told us this is only their first round of begging for the Tax Dollars of Smyrna to prop up their wages and 95% Unemployment Benefits. They've already told us they'll be back to beg for more of Our Money.
State Governments are already getting in line to beg for loans from the loans of Congress that we must pay back with interest to China. Congress is implying that the Federal Government is better able to manage money than Corporations at the very time they are setting record deficits and record debts.
It is time to end this madness. It is time for Our Representatives to say NO to out of control spending, but it isn't their money. They don't mind borrowing more and spending more to keep their campaign dollars rolling in.
TNTaylor©2008, TNT, all rights reserved.
Rep. Bart Gordon, D-Murfreesboro, intended to vote for the bill but said his
vote was not recorded because of a technical glitch. http://www.tennessean.com/article/20081211/NEWS02/812110342/1009/NEWS02
He seems to be confused about who Our Citizens work for. The Common Sense Citizens of Middle Tennessee have regularly rejected the UAW. We do not work for that Employment Corporation, because we understand that it strangles the industries that pay us.
He seems to believe that the Taxpayers of Tennessee should contribute to the $70k/year wages of the UAW in Michigan.
Here's an idea: If the UAW wants to salvage jobs, accept a pay and benefits package that allows the Big Three to compete. Before the UAW begs for money from the Good People of Gainsboro making on average, less than $40k/year, how about they share that $30k more a year they make with their fellow workers that would otherwise be laid off.
And what of the last bailout bill? We are now hearing the news: Banks that were forced to take Our Taxdollars (by the vote of Rep Gordon) are buying banks in China.
The UAW and Big 3 have already told us this is only their first round of begging for the Tax Dollars of Smyrna to prop up their wages and 95% Unemployment Benefits. They've already told us they'll be back to beg for more of Our Money.
State Governments are already getting in line to beg for loans from the loans of Congress that we must pay back with interest to China. Congress is implying that the Federal Government is better able to manage money than Corporations at the very time they are setting record deficits and record debts.
It is time to end this madness. It is time for Our Representatives to say NO to out of control spending, but it isn't their money. They don't mind borrowing more and spending more to keep their campaign dollars rolling in.
TNTaylor©2008, TNT, all rights reserved.
Monday, November 17, 2008
Tax & Spend
Did we send Representatives to Congress or did we give a Credit Card to a College Kid?
There are 303,824,640 American Citizens as of July 2008 according to the CIA Factbook. An estimated 45.4% of Americans are taxpayers. An estimated 20.1% are under 15 and another 12.7% are over 64. Though 153,100,000 Americans are capable of entering the workforce, only about 137,936,400 Citizens are paying for the operation of our government.
So, when we start dividing up the cost of Congress' Spending Sprees, it's not the cost per citizen but the cost per taxpayer. The Federal Government collects $9,000 per citizen but of that only $5,749.00 is noticeable (Federal Withholding, 1/2 of Social Security and 1/2 of Medicare Taxes). The rest comes in hidden taxes, in higher costs of goods (Corporate taxes, Excise Taxes, Tariffs, Gasoline Taxes, Death Taxes, and Tobacco Taxes are all passed on to consumers.)
But it's much worse than that.
The Federal Government collects $19,911.50 per Taxpayer. The Federal Legislature spends $22,475.95 per Taxpayer. In other words, each taxpayer adds $2,564.45 in debt in 2009. Where does your money go?
$19,911.50 taxes per taxpayer to the Government
$22,475.95 spent per taxpayer by Congress.
$ 1,885.08 paid on Debt Interest.
$ 4,668.82 Social Security
$ 3,698.23 DoD: The Defense of the Nation
$ 2,957.89 Medicare
$ 1,623.93 Medicaid (partially matched by state funds)
$ 2,609.90 Unemployment & Welfare payments
$ 1,232.55 paid out for Economic Stimulus Bill (the check for $300 to $1,200 you received.)
$ 1,052.66 GWOT
$ 510.38 Dept of Health & Human Services
$ 429.18 Dept of Education
$ 324.79 Veterans' Administration
$ 279.11 HUD
$ 277.66 State Department/Diplomacy
$ 272.59 Homeland Security
$ 181.24 Dept of Energy
$ 150.79 Dept of Agriculture
$ 147.17 Justice Department (FBI/Attorney General)
$ 127.60 NASA
$ 90.62 Dept of Treasury (Money Counters)
$ 34.07 Legislative Branch
(and other Departments such as the EPA, Department of Labor, etc.)
Hidden in the figures above are "earmarks." Earmarks are specific spending that may or may not have anything to do with the Department to which it is budgeted. A classic example is the money in the Emergency Defense spending bill earmarked for New Orleans and other domestic spending. While it may or may not have been warranted spending, it was not Defense and should not be labeled as part of the DoD budget.
There were 2,275 earmarks on the DoD budget for $7.8 Billion. While these are added to the official costs of defending our Citizens, our Economy, and our way of life, they don't necessarily have anything to do with Defense.
There were 11,524 earmarks costing $16.5+ Billion in 2008 and much of the popularity of Representative Gordon came from his earmarks for Middle Tennessee, but our entire delegation was only able to garner $120.6 Million in Tennessee earmarks.
To get these goodies, Our Congressmen must support the earmarks of others. For the $119.62 per taxpayer in Earmarks, Tennessee received back $0.87 per taxpayer.
Meanwhile, the People of Petersburg have been forced to help pay the $192,000 to the Academy for Urban School Leadership in Chicago, IL as earmarked by Rep Rahm Emanuel, proposed Chief of Staff to Barack Obama. http://earmarks.omb.gov/2008-earmarks/earmark_253022.html
And though Auburntown residents will be forced to Beg for Cannon County to get back funds they paid in, another $192,000 was earmarked for an afterschool program at the ABC Unified School District in Cerritos, CA. http://earmarks.omb.gov/2008-earmarks/earmark_253021.html
Congress has become like a teenager with their first credit card, a card they don't have to pay. While everyone would like to have such a card, the taxpayers of Tennessee have to pay the bill. We have to reel in the spending habits of the children we have sent off to Washington.
Was that Stimulus Check you received really worth $1232.55? And you'll be paying the interest for decades to get that check. It costs the taxpayer a lot of money to send our money to Washington, a lot more than we get back after the bureacrats are paid to collect it, to count it, to process it and then to hear our local civil servants beg for some of it to come back.
And that $2609.90 in Unemployment & Welfare you're paying would equal $38,547.61/year for 9,339,100 Americans that were not working. I don't know anyone getting a $741.30 week Unemployment check so that money is going elsewhere. About 2/3rds of that is going elsewhere.
Now, I'm not an accountant. I'm just a Tennessee Veteran that knows a little math, but I do know that we can't afford to keep adding to our debt and hence our interest payments. I do know that it isn't financially responsible to keep adding to what the taxpayer is forced to pay. I know we have to cut spending.
Any Common Sense Congressman would understand this. A Common Sense Congressman would stand against the Waste of Washington. A Common Sense Congressman would recognize that it is a poor return on investment to pay $119.62 for an 87 cent paycheck.
TNTaylor©2008, Tennessee Taylor, all rights reserved.
There are 303,824,640 American Citizens as of July 2008 according to the CIA Factbook. An estimated 45.4% of Americans are taxpayers. An estimated 20.1% are under 15 and another 12.7% are over 64. Though 153,100,000 Americans are capable of entering the workforce, only about 137,936,400 Citizens are paying for the operation of our government.
So, when we start dividing up the cost of Congress' Spending Sprees, it's not the cost per citizen but the cost per taxpayer. The Federal Government collects $9,000 per citizen but of that only $5,749.00 is noticeable (Federal Withholding, 1/2 of Social Security and 1/2 of Medicare Taxes). The rest comes in hidden taxes, in higher costs of goods (Corporate taxes, Excise Taxes, Tariffs, Gasoline Taxes, Death Taxes, and Tobacco Taxes are all passed on to consumers.)
But it's much worse than that.
The Federal Government collects $19,911.50 per Taxpayer. The Federal Legislature spends $22,475.95 per Taxpayer. In other words, each taxpayer adds $2,564.45 in debt in 2009. Where does your money go?
$19,911.50 taxes per taxpayer to the Government
$22,475.95 spent per taxpayer by Congress.
$ 1,885.08 paid on Debt Interest.
$ 4,668.82 Social Security
$ 3,698.23 DoD: The Defense of the Nation
$ 2,957.89 Medicare
$ 1,623.93 Medicaid (partially matched by state funds)
$ 2,609.90 Unemployment & Welfare payments
$ 1,232.55 paid out for Economic Stimulus Bill (the check for $300 to $1,200 you received.)
$ 1,052.66 GWOT
$ 510.38 Dept of Health & Human Services
$ 429.18 Dept of Education
$ 324.79 Veterans' Administration
$ 279.11 HUD
$ 277.66 State Department/Diplomacy
$ 272.59 Homeland Security
$ 181.24 Dept of Energy
$ 150.79 Dept of Agriculture
$ 147.17 Justice Department (FBI/Attorney General)
$ 127.60 NASA
$ 90.62 Dept of Treasury (Money Counters)
$ 34.07 Legislative Branch
(and other Departments such as the EPA, Department of Labor, etc.)
Hidden in the figures above are "earmarks." Earmarks are specific spending that may or may not have anything to do with the Department to which it is budgeted. A classic example is the money in the Emergency Defense spending bill earmarked for New Orleans and other domestic spending. While it may or may not have been warranted spending, it was not Defense and should not be labeled as part of the DoD budget.
There were 2,275 earmarks on the DoD budget for $7.8 Billion. While these are added to the official costs of defending our Citizens, our Economy, and our way of life, they don't necessarily have anything to do with Defense.
There were 11,524 earmarks costing $16.5+ Billion in 2008 and much of the popularity of Representative Gordon came from his earmarks for Middle Tennessee, but our entire delegation was only able to garner $120.6 Million in Tennessee earmarks.
To get these goodies, Our Congressmen must support the earmarks of others. For the $119.62 per taxpayer in Earmarks, Tennessee received back $0.87 per taxpayer.
Meanwhile, the People of Petersburg have been forced to help pay the $192,000 to the Academy for Urban School Leadership in Chicago, IL as earmarked by Rep Rahm Emanuel, proposed Chief of Staff to Barack Obama. http://earmarks.omb.gov/2008-earmarks/earmark_253022.html
And though Auburntown residents will be forced to Beg for Cannon County to get back funds they paid in, another $192,000 was earmarked for an afterschool program at the ABC Unified School District in Cerritos, CA. http://earmarks.omb.gov/2008-earmarks/earmark_253021.html
Congress has become like a teenager with their first credit card, a card they don't have to pay. While everyone would like to have such a card, the taxpayers of Tennessee have to pay the bill. We have to reel in the spending habits of the children we have sent off to Washington.
Was that Stimulus Check you received really worth $1232.55? And you'll be paying the interest for decades to get that check. It costs the taxpayer a lot of money to send our money to Washington, a lot more than we get back after the bureacrats are paid to collect it, to count it, to process it and then to hear our local civil servants beg for some of it to come back.
And that $2609.90 in Unemployment & Welfare you're paying would equal $38,547.61/year for 9,339,100 Americans that were not working. I don't know anyone getting a $741.30 week Unemployment check so that money is going elsewhere. About 2/3rds of that is going elsewhere.
Now, I'm not an accountant. I'm just a Tennessee Veteran that knows a little math, but I do know that we can't afford to keep adding to our debt and hence our interest payments. I do know that it isn't financially responsible to keep adding to what the taxpayer is forced to pay. I know we have to cut spending.
Any Common Sense Congressman would understand this. A Common Sense Congressman would stand against the Waste of Washington. A Common Sense Congressman would recognize that it is a poor return on investment to pay $119.62 for an 87 cent paycheck.
TNTaylor©2008, Tennessee Taylor, all rights reserved.
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