March 2009
17 posts
Autos and Politics
What is it with the idea that something is “too big to fail”? Our entire economy, for over 200 years, has been built on the evolution of companies and business in general. That’s natural. Unfortunately, the natural course of evolution is being interrupted by politicians when it comes to the car business.
Bush made the first mistake by lending money to companies that would be...
Losing the Private Sector
As any economist will tell you, the private sector, and in particular small business, creates more than half of all jobs. This is true regardless of your party affiliation.
Here’s a good opinion piece that highlights the current issues the private sector faces when it comes to the politicians that are trying to run everything, and anything, they can…whether or not they have a clue.
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Privacy and Liberals
It’s ironic that the far left will scream up and down about privacy right alongside the ACLU. When it comes to the current AIG scandal, politicians like Barney Frank are calling for names to be disclosed…and the ÅCLU is strangely quiet.
So let me get this straight; the “illegal” wiretapping under Bush (which Obama eventually voted for even though he was against it?)...
The French
When France starts giving business lectures regarding fiscal restraint you know you’ve entered a new phase here in America.
http://online.wsj.com/article/SB123785260118019581.html
A Trillion Reasons...And Counting...
The Congressional Budget Office has come out with it’s report on the Obama stimulus plan and it’s not good. Here’s the summary of their finding:
…President Obama’s economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.
For the full article on their...
The Entitlement Mentality
So here we are, at an interesting place in our history. We have the government railing against business and condemning those who have earned bonuses based on contracts that their companies signed off on. As a result of all of the political pandering and ‘outrage’ by the same politicians who led us down this path, individuals are being harassed in their homes for their success in...
Obama's Budget and Deficits
In 20 months under Obama’s plan we will rack up more debt than George Bush did in eight years while dealing with two wars, 9/11 and Katrina. Today, the Congressional Budget Office stated that the deficits will actually be worse than originally outlined last month…shocking!
Here’s the latest article:
http://news.yahoo.com/s/ap/20090320/ap_on_go_pr_wh/obama_budget
The irony is...
Barney Frank's Follie
Would somebody please tell Barney Frank to shut up. He’s trying to deflect attention from the outrage we should have about him by railing against bonuses. Ironically, he’s railing against bonuses to Freddie Mac and Fannie Mae: http://news.yahoo.com/s/ap/20090320/ap_on_bi_ge/mortgage_giants_bonuses
Yet it was these organizations that are at the root cause of our current situation....
AIG Outrage
As all the politicians are throwing up their hands and shouting about the outrage of AIG paying bonuses to employees, I ask you where the outrage is with regards to congress? That’s the real outrage. The fact that these bozos couldn’t run the corner grocery store let alone anything else…including our government.
Didn’t they bother to review the business and put in...
Debt Explosion
For those who lamented the explosion in spending during the Bush administration over 8 years, you’re about to see that lapped in the first 20 months of the Obama administration. That’s right. Many of us thought the republicans had lost their way as they spent like drunks…now, the Obama team shows us that was merely a warm up act.
Using the economic crisis as a reason to spend...
The Economy is Sound
Last September, when the economy was far better off than it is today, you heard John McCain proclaim that the U.S. economy was fundamentally sound. The attack began moments later and included Barack Obama mocking the comments and sounding off about McCain being out of touch with America and Main Street.
Low and behold, Obama and his team have been making very similar statements beginning last...
A Taxing Reality
OK, you’re probably sick of reading posts about taxes, but I had to address something I just read in today’s Wall Street Journal. The entertainment industry is skewed to the left in a very big way, with many in Hollywood pushing for higher taxes on individuals and businesses. Interesting how their idealogy doesn’t apply to their own industry.
Today’s opinion “Tax...
Theory vs. Reality
I’ve heard from my democratic friends on this blog as they’ve explained the reasons for some of the steps being taken today by our new administration and congress. They explain the theory behind steps that have been taken to ‘stimulate’ our economy and so forth.
As a business owner I’m not interested in theory…I’m interested in reality. So here’s...
The Rich Can Afford Higher Taxes?
How does one become ‘Rich’. You either inherit wealth, or you create it. Regardless of how you get ‘rich’, the current tax system is punitive in nature to these individuals.
We have a progressive tax system which already means that the rich pay a disproportionate share of the tax load. Case in point; the top 1% earn 22% of all income, yet pay 40% of all taxes. The...
Taking Jobs
Tell me what the government doesn’t get when it comes to the new ‘stimulus’ plan. How about the fact that business owners that create the jobs and employ more than half of all Americans won’t be hiring anytime soon. That’s the reality of the market today.
Why should it be any different? The message coming from Washington is that my taxes will be going up sharply...
The Price You Pay
Getting a business up and running requires incredible sacrifice. It’s the reason why most people don’t bother to even try. In my case, it required a move to a town where we didn’t know a single resident…and the equity in my house. Talk about a big bet.
What were the odds of success? Depending on who you talk to or what stats you use, roughly one in ten start...
The Great Takeaway
As a business owner that spent the last seven years mortgaging my future to build a viable business, I’m very concerned about the rhetoric coming from Obama and his team with regards to the ‘rich’. By his definition, I’m beyond wealthy at this point and a prime target for his redistribution strategy. What politicians don’t understand (most have never run a business...