Pork Land Vs. Reality
The tug of war over the content of the stimulus package does more than exemplify the gulf between conservatives and liberals.
The final version of the appropriation will determine whether Mr. Obama’s presidency will be a prolonged national agony or the gate to a successful economic triumph. And don’t be deceived. He has only one chance to get it right.
The time for pretense is over. Neither he, nor Speaker Pelosi and Senator Reid can make a trillion dollar mistake and recover. The stone and chisels are out, ready to engrave his epitaph. No amount of soaring rhetoric will camouflage the outcome. In sports jargon, this is match point.
It is understood that Obama won the election promising a massive income redistribution. His recent statement condemning companies that make profits during a recession either epitomizes his utter lack of business acumen, or is an acknowledgement that he is an anti-business socialist. There is no middle ground to plant another interpretation.
It’s clear that Obama’s advisors have enough historical perspective to delay raising taxes during a recession. They know the economy would completely unravel. Of course, this hasn’t stopped Speaker Pelosi’s quest to vanquish the last remaining productive segment of society. It’s equally clear that Obama is dithering over the subject.
His advisors are also aware that no government can spend itself out of a recession. But it can spend itself into a depression. So far it appears that Obama is prone to ignore the odds predicated on a century of economic experience.
Pelosi’s proposed stimulus legislation is a trillion dollars of pork. This welfare bazaar satiates the appetites of every loony leftwing cause. This feast will relinquish America’s control of its economy to the Chinese (the money lenders), and/or send inflation into the stratosphere.
Obama is at a crossroad. Will he appease his fellow socialists or strengthen the engine of capitalism with tax cuts? The Great Society legislation of the 1960’s, and the cascade of entitlements that followed, confiscated the seed money needed for personal growth. Income, payroll, excise and sales taxes have since choked the upward mobility of Americans, and have kept them swimming against the tide of prosperity.
Today, a decent standard of living generally requires both parents in the job market to merely survive from payday to payday. This standard is not remotely equal to the Middle Class standards of the 1950’s and 1960’s. The advent of daycare centers should have been a warning.
Currently more people are employed in government than in manufacturing. In a time of fiscal crisis, no sound company adds to its overhead. If corporations can’t stop the growth of government and the taxation required to pay this overhead, they are forced to slash employment, or move their operations off-shore.
Of course, they have a third option. About 35,000 registered lobbyists work diligently to encourage the members of congress to share the tax receipts with them in return for political contributions.
This coziness explains congress’ reluctance to stop the influx of cheap illegal labor coming in the backdoor, and the 1.5 million HB-1 workers scheduled to come through the front door. No wonder wages are stagnant.
If you are not worried about the tax and inflationary consequences of the Pelosi welfare bazaar, you are probably among the Americans who have moved $13 trillion off-shore to avoid the confiscatory taxation, or you simply can’t count. Or maybe you are one of the lucky few who will be considered for a post in the Obama administration.
The final version of the appropriation will determine whether Mr. Obama’s presidency will be a prolonged national agony or the gate to a successful economic triumph. And don’t be deceived. He has only one chance to get it right.
The time for pretense is over. Neither he, nor Speaker Pelosi and Senator Reid can make a trillion dollar mistake and recover. The stone and chisels are out, ready to engrave his epitaph. No amount of soaring rhetoric will camouflage the outcome. In sports jargon, this is match point.
It is understood that Obama won the election promising a massive income redistribution. His recent statement condemning companies that make profits during a recession either epitomizes his utter lack of business acumen, or is an acknowledgement that he is an anti-business socialist. There is no middle ground to plant another interpretation.
It’s clear that Obama’s advisors have enough historical perspective to delay raising taxes during a recession. They know the economy would completely unravel. Of course, this hasn’t stopped Speaker Pelosi’s quest to vanquish the last remaining productive segment of society. It’s equally clear that Obama is dithering over the subject.
His advisors are also aware that no government can spend itself out of a recession. But it can spend itself into a depression. So far it appears that Obama is prone to ignore the odds predicated on a century of economic experience.
Pelosi’s proposed stimulus legislation is a trillion dollars of pork. This welfare bazaar satiates the appetites of every loony leftwing cause. This feast will relinquish America’s control of its economy to the Chinese (the money lenders), and/or send inflation into the stratosphere.
Obama is at a crossroad. Will he appease his fellow socialists or strengthen the engine of capitalism with tax cuts? The Great Society legislation of the 1960’s, and the cascade of entitlements that followed, confiscated the seed money needed for personal growth. Income, payroll, excise and sales taxes have since choked the upward mobility of Americans, and have kept them swimming against the tide of prosperity.
Today, a decent standard of living generally requires both parents in the job market to merely survive from payday to payday. This standard is not remotely equal to the Middle Class standards of the 1950’s and 1960’s. The advent of daycare centers should have been a warning.
Currently more people are employed in government than in manufacturing. In a time of fiscal crisis, no sound company adds to its overhead. If corporations can’t stop the growth of government and the taxation required to pay this overhead, they are forced to slash employment, or move their operations off-shore.
Of course, they have a third option. About 35,000 registered lobbyists work diligently to encourage the members of congress to share the tax receipts with them in return for political contributions.
This coziness explains congress’ reluctance to stop the influx of cheap illegal labor coming in the backdoor, and the 1.5 million HB-1 workers scheduled to come through the front door. No wonder wages are stagnant.
If you are not worried about the tax and inflationary consequences of the Pelosi welfare bazaar, you are probably among the Americans who have moved $13 trillion off-shore to avoid the confiscatory taxation, or you simply can’t count. Or maybe you are one of the lucky few who will be considered for a post in the Obama administration.
Labels: Middle Class, Obama, Senator Reid, Speaker Pelosi, stimulus package, taxes
posted by David at
5:46 AM
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