Government acts to seize control of wages.

The Democrats continue to search for absolute power.  In their latest attempt, legislation has been drafted and passed out of committee limiting salaries of ALL EMPLOYEES of a company that has received government assistance.  Wonder if this will extend to those receiving SBA loans??  Nah, that's silly.  Like putting Obama in charge of GM - and him with no auto experience.  Right??

Beyond AIG: A Bill to let Big Government Set Your Salary

By Byron York
Chief Political Correspondent 3/31/09

House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., left, talks with Treasury Secretary Timothy Geithner, right, and Federal Reserve Chairman Ben Bernanke, on Capitol Hill Tuesday, March 24,2009. Frank's committee has passed a bill giving Geithner extensive control over salaries of employees working at companies receiving government bailout funds. (AP Photo/Evan Vucci) It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.

But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

The Employee Freedom Choice Act - Good for America! Right?? Mmmm - not so much.

Union efforts cost a community in Wisconsin a $50 million project and up to 800 jobs.  Organized labor at work.

Economic director: Bill stalls large local project

By Leader-Telegram staff

Proposed federal labor legislation has derailed a large Eau Claire County development, according to a local economic development official.

The project - for which no name or description was given - would have brought a $50 million investment to Eau Claire County in the next five years, along with creating up to 800 full-time jobs, Brian Doudna, executive director of the Eau Claire Area Economic Development Corp., said in a news release Wednesday evening. Construction was expected to begin this year. The first employees were to begin work in early 2010, with about 100 new jobs being created.

The project has been placed on hold indefinitely because of the Employee Free Choice Act, federal legislation that would require binding arbitration to resolve contract disputes and make it easier for workers to join unions. The bill has been introduced in the House and Senate.

Pajamas Media » Food Stamps for the Well-Off: A National Trend?

A nation of dependence - is that what we have become??

Pajamas Media » Food Stamps for the Well-Off: A National Trend?

Since when did it become taxpayers’ duty to feed a family with $80,000 in the bank?

March 27, 2009 - by Tom Blumer

On March 13, Ohio blogger Matt Hurley, who has been running Weapons of Mass Discussion for over five years, received an email from “someone in the business” — specifically, the social services “business” in Warren County, Ohio, just northeast of Cincinnati :

Cape "tea party" canceled; City fears too many attendees | WINK News - Southwest Florida | Local & Florida

Permits and insurance - the weapons of fear.

Cape "tea party" canceled; City fears too many attendees | WINK News - Southwest Florida | Local & Florida

By WINK News

Story Created: Mar 27, 2009 at 6:10 PM EDT

Story Updated: Mar 27, 2009 at 6:16 PM EDT

CAPE CORAL, Fla. - A tea party to protest government spending and taxing is canceled. Canceled by the government.
Why? They feel too many people could show-up.

In normal times, this would not even need to be said.

One more point of view on why government provided healthcare is not the way to go - Massachusetts.

I have a good friend who keeps pointing to Massachusetts as an example of a working model for socialized medicine provided by the government.  And here, is yet another article on how poorly it is actually working.

Health Care: Why Massachusetts is Not the Answer

In 2006, Governor Mitt Romney (R), working with a Democratic state legislature, passed and signed the Massachusetts Health Care Reform Act, a groundbreaking piece of legislation aimed at ensuring that every citizen of the Bay State possessed health insurance, while simultaneously lowering the cost of health coverage and improving access to quality care.

Bring it on Mr. President

Obama continually hides behind the message the the Republicans have introduced no alternative to his budget.  He leaves out little details like the Republicans being physically shut out of the construction of the porkulus bill.  That they have had amendment after amendment after amendment blocked in committee. 

So, they have taken time to publish a 19 page proposal.  Imagine that, 19 pages that you can actually read and debate rather than 1000 that MUST be voted on - without anyone actually reading it.

OK Mr. President, you wanted a debate, be man enough to actually debate the Republican proposal.

For those interested, read it for yourself.

The GOP 'Road to Recovery' budget - read it here

March 26, 2:23 PM ·

House Republicans have unveiled the "Road to Recovery," a budget plan to curb spending, create jobs, and control the debt, in contrast to the irresponsible budget proposed by President Obama, which spends too much, taxes too much and borrows too much.

Your local bank under attack.

I live in a small town.  My company does business there.  It is a well run, financially solid institution.  They take their business seriously.  And they, along with thousands of sound banks, are being punished by the federal government. 

FDIC Extends Restoration Plan; Imposes Special Assessment

FOR IMMEDIATE RELEASE
February 27, 2009

Media Contact:
David Barr (202) 898-6992
dbarr@fdic.gov

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to amend the restoration plan for the Deposit Insurance Fund (DIF). The Board also took action to ensure the continued strength of the insurance fund by imposing a special assessment on insured institutions of 20 basis points, implementing changes to the risk-based assessment system, and setting rates beginning the second quarter of 2009.

Think about that.  A "special assessment" of $.20 for ever $100 on deposit.  In many cases, this may well be the profit margin for small, private banks.  How can our government punish well run banks in such a way.

Oh, sorry, I forgot - simply because they can.  And no Geither wants "un-precedent " power to seize institutions the government deems to be in trouble.  Hello??  America??  Anyone watching??

Union thugs intimidating workers on a "Card Check" effort?? Naw - it couldn't be true.

 

These are union guys, working for the common worker, they are.  OK, OK - the sarcasm flag is flying.  But, the story of this woman would be the story of card check.  I remember the unions of the 50s.  I remember my father's stories.  Trust me, we do not want those days back.

So what about those tax cuts for 95% of American tax payers.

Let's set aside the raw dishonesty of Obama's assertion that he is going to give 95% of American tax payers a tax cut, nearly 50% pay absolutely no taxes at all - period. What he really means is that he is giving transfer payments to these folks. Taking money from the productive and giving it to those who earn less. "Spreading the wealth" so to speak.

But I heard an interesting caller today who was a small business owner (the pure evil of it all!) and she noticed that in her new IRS Publication 15, there were some significant changes since last year (when that evil Bush was in office). In 2008, the withholding for a single person claiming no dependents was $0 until they reached $310 per week ($1240 per month). ZERO TAXES. Yet, despite the claims of the Obama administration regarding reducing taxes, the Publication 15 tables for 2009 showed that taxes started being withheld at the $55 per week ($200 per month) mark.

Given my standard policy of trusting no one - Republican, Democrat, Independent - I decided to investigate. A couple of links for your evaluation:

2008 IRS Publication 15

Pay particular attention to page 5. Hummmm - sure shows $0 to me.

Next:

2009 IRS Publication 15

Thumb forward to page 40. Wow! Taxes starting at $55.

So what does this mean? In a nutshell, Obama and the Democrats are lying to us. This doesn't even begin to address the massive increases on the middle income earners when Bush's tax cuts are allowed to expire. But, I have written about that before, I won't bore you again.

Bottom line - this administration is desperate for cash. Given their massive budget, the projected $1 Trillion deficits EACH AND EVERY YEAR FOR THE NEXT 10 YEARS, they simply need cash. The "rich" don't have enough for the administration's thirst. They will have to drain each and every dime from absolutely every source possible, and will have to create many new sources as well. This is simply the beginning folks, just the beginning. I believe Senator Gregg called it the path to bankruptcy for the United States.

Change you can believe in.

When will someone in our own government give this speech to Obama?

How do you treat a good man?

How do you treat a good man?  Not like this.

Op-Ed Contributor - Dear A.I.G., I Quit! - NYTimes.com

Dear A.I.G., I Quit!

Published: March 24, 2009

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, to Edward M. Liddy, the chief executive of A.I.G.

DEAR Mr. Liddy,

It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. I hope you take the time to read this entire letter. Before describing the details of my decision, I want to offer some context:

I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P. I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G. Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage.

Bush Deficit vs. Obama Deficit in Pictures » The Foundry

The problem with what the Big "O" says is always in the facts.

Bush Deficit vs. Obama Deficit in Pictures » The Foundry

Why the hell does this surprise anyone?? Hello?? Can we say Dodd?? Can we say Franks??

Follow the Bailout Cash

By Michael Isikoff and Dina Fine Maron | NEWSWEEK

Published Mar 21, 2009

There was plenty of outrage on Capitol Hill last week over the executive bonuses paid out by AIG after getting federal bailout money. But another money trail could make voters just as angry: the campaign dollars to members of Congress from banks and firms that have received billions via the Troubled Asset Relief Program.

A story to rub . . . bber you the wrong way.

You can't make this stuff up.

Stimulus? U.S. to buy Chinese condoms, ending Alabama jobs | McClatchy

By Mike McGraw | Kansas City Star

Call it a condom conundrum.

At a time when the federal government is spending billions of stimulus dollars to stem the tide of U.S. layoffs, should that same government put even more Americans out of work by buying cheaper foreign products?

In this case, Chinese condoms.

Administration Seeks Increase in Oversight of Executive Pay - NYTimes.com

I am shocked, shocked I tell you.  They even intend to regulate normal, everyday companies not associated with bailouts at all??  Why the nerve!!  (is anyone surprised by this??  anyone??)

Administration Seeks Increase in Oversight of Executive Pay

By STEPHEN LABATON

Published: March 21, 2009

WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

FT.com / Global Economy - Banker fury over tax ‘witch-hunt’

This is pretty damned impudent.  Did they not hear the Big O's conversation with Joe the Plumber about spreading the wealth?  Do they not understand that this actually requires wealth too be seized from those making the wealth and given to those who do not make as much?  Pretty damned cheeky to just ignore one of the cornerstones of the Big "O's" whole election campaign!  

Banker fury over tax ‘witch-hunt’

By FT reporters

Published: March 20 2009 19:39 | Last updated: March 20 2009 23:32

Bankers on Wall Street and in Europe have struck back against moves by US lawmakers to slap punitive taxes on bonuses paid to high earners at bailed-out institutions.

Senior executives on both sides of the Atlantic on Friday warned of an exodus of talent from some of the biggest names in US finance, saying the “anti-American” measures smacked of “a McCarthy witch-hunt” that would send the country “back to the stone age”.

Lighting a match to the John Galt tinder box.

Let's say you are a company looking for worldclass leadership.  It does exist.  There are managers that truly make a difference that are badly needed.  Many work on a bonus system.  They get paid if they succeed.  They don't if they fail.  That was actually true in the AIG bonus fiasco.  They were paid bonuses to stay, to do necessary work.  They saved the tax payer billions.  But never mind, they need to be punished, as do other bonus earners.

So tell me again, why do these people want these jobs?? 

COURTING CATASTROPHE

March 19, 2009

The pitchfork-and-torch crowd that would be Congress is coming after AIG and its now infamous bonuses, and it may further damage America's fragile financial system in the process.

That's because House Speaker Nancy Pelosi, given an opening by the anger over the $165 million in bonuses paid to AIG bigs, says the House will suspend its rules today and vote to impose a confiscatory 90 percent income tax on the AIG bonuses and perhaps those given after Dec. 31 to top executives at all companies that got more than $5 billion in government bailout money.

More audit attention

Well of course small businesses will be in for more audits, how else to spread the wealth??

More audit attention

IRS Commissioner Doug Shulman says he wants to balance his agency's enforcement and service responsibilities. To that end, he has announced programs designed to take into consideration the financial struggles that many taxpayers are encountering in today's economy.

But balance doesn't mean taxpayers are off the hook. The IRS has made it clear it intends to ramp up enforcement among three groups of taxpayers: high-net-worth individuals, U.S. businesses with international operations and large corporations.

Newsmax.com - Obama's New Health Insurance Law Hammers Small Businesses

Why does this suprise anyone. Obama has always been anti-business. ALWAYS!! Of course he wants to "spread the wealth" and healthcare is simply one more opportunity.

Obama's New Health Insurance Law Hammers Small Businesses

Tuesday, March 17, 2009 12:17 PM
By: David A. Patten
Business owners are warning that administration efforts to help unemployed workers by subsidizing their COBRA health insurance premiums may actually harm their chances of getting what they need most – a job.

Problematic COBRA regulations attached to the $787 billion stimulus plan now require businesses to “front” the cost for tens of millions in insurance premiums each month for workers who have lost their jobs.

Pajamas TV - Ask Dr. Helen - Going John Galt? - Video

 Pajamas TV - Ask Dr. Helen - Going John Galt? - Video

More on "going John Galt".  I agree, the only way we will take back our government is to starve it to death. 

35 Counties Account for 50% of Foreclosures | Mother Jones

Perhaps liberals should handle their own financial problems??

35 Counties Account for 50% of Foreclosures | Mother Jones

 

Andrew S. Grove - Mr. President, Time to Rein In The Chaos - washingtonpost.com

When the man who pretty much single handedly laid the groundwork for the PC market bitch slaps you, you would hope the President listens.

Andrew S. Grove - Mr. President, Time to Rein In The Chaos - washingtonpost.com

Mr. President, Time to Rein In The Chaos

By Andrew S. Grove

Wednesday, March 11, 2009; Page A15

There is nothing more difficult . . . than to take the lead in the introduction of a new order of things.

Machiavelli's 500-year-old warning notwithstanding, we elected a president who is committed to "change." The economic meltdown in which our country finds itself at the start of his administration makes his difficult task even more daunting. In less than two months, the hopeful enthusiasm that welcomed the Obama administration has given way to growing worry and frustration. I find myself wringing my hands, not over the goals President Obama has set but over the ineffectual ways the administration has pursued them. I have no qualifications to judge how well the Obama team manages the political dynamics, but as a business executive with 40 years' experience, much of it managing change, and a part-time academic dedicated to studying why so few corporations succeed in navigating change, I feel compelled to comment not on the what of the Obama team's efforts but on the how.

Your Democrat's meaning of "Change"

 

Let's not leave out Democrats at the Congressional level as well:

One more time, why the hell do we want to give politicians like this a single cent - EVER!

When It Comes To Real Life Experience With Stocks, Obama Doesn't Get It

From the mouth of a small business owner (not me BTW).

I own a small business and as every small business owner realizes, the job of CEO is different when every employee knows your name and has met your kids. You have to be part financial adviser, part psychologist, part pastor and part cheerleader.

YouTube - Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown

Isn't it a bitch when the truth is available for all to see.  Oh, and the reason this is coming from a Canadian feed - it was removed from all US YouTube feeds, imagine that

Political Persecution: Audited For TaxCheatStamps.com

I'm "sure" this is just a coincidence.  After all there is nothing in our current administration's history that would indicate they are vindictive - right??

Political Persecution: Audited For TaxCheatStamps.com

Political Persecution: Audited For TaxCheatStamps.com

By Michael Williams on March 7, 2009 12:25 PM

Today I received a letter from the IRS that my 2007 tax returns are being audited. Less than one month after launching TaxCheatStamps.com.

Obama's Radicalism Is Killing the Dow

Seems like the anointed one is  facing growing disillusionment with his abilities.  Color me shocked.

A financial crisis is the worst time to change the foundations of American capitalism.

By MICHAEL J. BOSKIN

It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

 Martin Kozlowski

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.

A Destroyer of Worlds

Prior to the elections much was made of just who Obama was. For those willing to set aside the god-like adoration and honestly look at those he associated with, they found radical leftists like Sal Salinsky and his “Rules for Radicals”. His pastor of 20 years Jeremiah Wright whose bigoted rants from the pulpit provided a clear window to his spiritual soul. Bill Ayers, the unrepentant Weatherman bomber acted as a mentor from his early days at Columbia through his entry into politics.

His state legislative record provided insights as well. His inability to make a decision was clearly on display in his 125+ times voting “Present”. A willingness to allow fetuses born alive during a botched abortion to simply die gave us an early indication of the value he places on the lives of those most helpless in our society. A persistent desire to limit the position of fire arms indicated Obama cared little for our second amendment rights.

Conversations with “Joe the Plumber” clearly showed his intention to seize the earnings of the “rich” and “spread the wealth around” to those who are less productive.

There was also his fondness for exaggeration. He billed himself as a law professor in constitutional law. Actually, he was a guest lecturer. There were many others: his introduction of legislation regarding reporting of small nuclear plant leaks (he didn’t), his parents fell in love during their march on Selma ( yet he was born 4 years prior), he played up his community organizing abilities (he opened a single employment office and had asbestos removed) were but a few “accomplishments” he hailed during the campaign.

Since election he has hired numerous lobbyists, after vowing they would have no place. He promised to make Washington swear off earmarks, yet his most recent spending bill has over 9,000 of them. Four of his appointees have had substantial tax problems – one of which now runs the IRS.

Perhaps we could conclude he was less than honest about who he was, what his core values were and the direction he would take our country.

In a brief period of only 8 weeks, it has been clear who we have elected to – as his lovely wife Michele declared – rule over our nation. In the Hindu religion the third god is Lord Shiva – the Destroyer of Worlds. This is the persona President Obama has seen fit to take on, Lord Shiva.

In an amazing and mind numbing series of proclamations, spending bills, bail-outs, and flat out usurpations of power our new Dark Lord has single handedly destroyed 2.1 Trillion dollars of wealth from Americans retirement plans, pensions, investment portfolios and 401Ks. It’s far from over. He has given no indication that he is even aware that people are looking to him for some level of confidence that he understands the problem. In stead he declares the “profit/earning” ratio is getting good enough and we should consider buying stocks. The fact that there is no such thing as “profit/earning” ratio seems to have slipped his mind. His unwillingness to address the toxic housing inventory, the lack of credit for small businesses, the implosion of the auto industry, the failing state budgets and pension plans do nothing but accelerate his task of destroying America’s economy.

To arrest the plummeting revenues collected by the Federal Government, he has decided to increase taxes on “the rich” (tell me, doesn’t 60% feel just a bit high??), eliminate tax breaks on the evil oil companies just as their profits are plummeting, repeal the Bush tax cuts (increasing taxes on those making $45,000 per year by 13%), adding a cap and trade policy sure to drastically increase the cost of electricity and fuel, impose new CAFÉ standards on the auto industry as it falls apart in their hands, remove deductions for interest on homes as we are trying to buck up the real-estate market and remove deductions for charitable giving as charities see the pending money squeeze coming.

Thus President Obama takes his place as our first Lord Shiva, the destroyer on the American economy. And we have another three years and 10 months to look forward to. Our grandchildren will sit and wonder why we elected such a man as our President.

Depression warning - from the WSJ???

Wow, the WSJ??  I have become convinenced that a full depression is the only way to save our kids.  Congress is obviously unwilling to absorb any pain to put our economy right.  Their path to a slow destruction will only prolong it until the boomers are too old to work and help dig us out.  Sooner rather than later is better.  The WSJ is issued it's warning.

What Are the Odds of a Depression?
International evidence suggests there is a 20% chance our stock-market crash will lead to much worse.

• By ROBERT J. BARRO

Central questions these days are how severe will the U.S. economic downturn be and how long will it last?

The most serious concern is that the downturn will become something worse than the largest recession of the post-World War II period -- 1982, when real per capita GDP fell by 3% and the unemployment rate peaked at nearly 11%. Could we even experience a depression (defined as a decline in per-person GDP or consumption by 10% or more)?

The U.S. macroeconomy has been so tame for so long that it's impossible to get an accurate reading about depression odds just from the U.S. data. My approach uses long-term data for many countries and takes into account the historical linkages between depressions and stock-market crashes. (The research is described in "Stock-Market Crashes and Depressions," a working paper Jose Ursua and I wrote for the National Bureau of Economic Research last month.)

The bottom line is that there is ample reason to worry about slipping into a depression. There is a roughly one-in-five chance that U.S. GDP and consumption will fall by 10% or more, something not seen since the early 1930s.

Going John Galt

Going John Galt

The "Big O" truly does not understand where the wealth comes from in America.  He continues to be stunningly ignorant and will continue to have America pay the price for this.

And, so, the movement to non-growth continues.

Like Robert Stacey McCain, I’m frustrated with the “moderates” who voted for Obama in the desperate hope that he was not what the evidence - and by evidence, I mean his words, his associates, and even his extremely limited legislative track record - clearly proclaimed him to be: a far left Chicago thug politician whose goal was to move us into a more socialist state.  David Brooks, Christopher Buckley, Peggy Noonan, Kathleen Parker, Doug Kmiec… you led the RINO cheerleading squad that helped this man become our President.  Serious scrutiny of Obama’s admittedly scant record would have told you all you need to know.  

Now people begin to feel sorry, and are deservedly mocked.  But in the meantime, we’re going further and further down the socialist rabbit hole, and taxpayers like me who are net contributors to the federal government - instead of the 60% of taxpayers who receive more in government services than they put in - are going John Galt.

Michelle Malkin » Going Galt: Tax hikes have consequences

Michelle Malkin » Going Galt: Tax hikes have consequences

And so it begins.  Just what will the slow-down by doctors and dentists have on Obama's big healthcare plans??  The level of ignorance of this man is beyond description.