Thursday, March 26, 2009

Mortgaging Our Grandchildren

Everyone is still up in arms about AIG and the bonus babies. In fact our Congress responded to the outrage in typical fashion. First, they totally failed to mention that they specifically authorized the bonus money to be paid. Then, in the cover our ass move of the year, they decided that punishing the people who legally earned that money was in order. But it's ok, I have relaxed. I no longer fear the erosion of liberty at the hands of an incompetent Congress and Executive. Instead, I will simply watch as my nation becomes an impoverished 3rd World Nation within my lifetime.

Read on to see just how bad it is.

According to ABC News the bailout is up to $7,500,000,000,000. That would be Seven and one-half TRILLION dollars. But the news is all over a paltry how many millions in AIG bonuses got paid out. Or, it's about the housing crisis. I don't fault Obama for not solving all of this. But I think it's important that you get just how big a number 7.5 trillion dollars is.

To be frank, most of us cannot picture a number that big. Because of that we are outraged over peanuts while the truly big numbers are ho-hummed. So, I will try to break it down for you.

Working from right-to-left we'll show you just how big this number really is and how it applies to Mr. And Mrs. J.Q. TaxpayingCitizen. Off we go:


This is 7.5 Trillion.


This is the last two zeros, the "ones" and "tens" positions. This number represents a significant number of Americans hourly wage. The median hourly wage in Texas is $13.76 per hour according to the BLS.


This is the last three zeros, the "ones", "tens", and "hundreds" positions. This number represents what many Americans receive for a regular work week. This number represents what a reasonably priced television would cost. Or, you can look at it as a car payment.


This is the last four zeros, the "ones", "tens", "hundreds", and "thousands" positions. This number normally represents an average family income for a month. Think of all the money you make in one month of solid work. Think of the time you invest to get this many zero's. Now look at how many zeros are still to the left of your number.


This is the last five zeros, the "ones", "tens", "hundreds", "thousands", and "ten-thousands" positions. This number is most Americans annual income. All that work for a solid year of your life gets you to the fifth zero from the right. Your sweat, your taxes, your time. And there are still how many zeros to the left of your year?


This is the last six zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", and "hundred-thousands" positions. If you are among the very top wage earners or salaried employees, you might hit this many zeros in exchange for a year of your life. More likely, you will not, but you can take heart that the cost of the average home will place you in debt to that level. Well Done!


This is the last seven zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", and "Millions" positions. Woo Hoo! We are now well above the 95th percentile in annual income. We are well above your debt level. We are entering lottery jackpot territory. Of course in today's inflated world, it's a small jackpot and Uncle Sugar's cut (income tax) will remove a zero just to keep you in your place. But, realistically, this number can also represent your entire life. Think about working from 18 to 80. On your deathbed let your greedy kids add up all the money you earned. You might fall into this category. Now, look at how many un-highlighted zeros we have to go on our quest to put it all in perspective. Does the sheer size of that number begin to scare you yet?


This is the last eight zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", and "Ten-Millions" positions. This is medium lottery jackpot turf. In this rarefied area not even the taxman can cut you so deep that you won't be rich until you die. Well, they could. But it would take an act of Congress deciding to punish the lottery winners like they punished the AIG bonus babies. Does the term "Ex post facto" law and unconstitutional mean anything to you?


This is the last nine zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", "Ten-Millions", and "Hundred-Millions" positions. This is so far above the normal person that only a huge lottery win will get you there. You, your children, and likely even your grandchildren could work from the age of 18 to 80 and die without all of you adding up to this. Just the interest from this figure would pay your entire debt for life and allow you to send all your dependents to college. The number is so big that most of us cannot form a mental picture of "One hundred million automobiles" in a row. And, there are still more zero's to the left.


This is the last ten zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", "Ten-Millions", "Hundred-Millions", and "Billions" positions. You and I are so far out of our league that we cannot comprehend how we'd live our lives with that kind of money.

According to Forbes magazine:
For the first time ever, the tally of the world's billionaires crossed into four figures, reaching 1,125.

So, in a world population of 6,706,993,152 only 1,125 hit that mark. I'm not going to do the math for this. But I think you get my point.


This is the last eleven zeros, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", "Ten-Millions", "Hundred-Millions","Billions", and "Ten-Billions" positions. Of the 1,125 Billionaires on the entire planet of 6.7 Billion (notice the contraction so the number doesn't scare you) only 35 have crossed to this level.


This is the last twelve numbers, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", "Ten-Millions", "Hundred-Millions","Billions", "Ten-Billions", and "Hundred-Billions" positions. None of our top 35 even made it half-way to this figure. Imagine that, our number is so big that no one person on the entire planet has that much wealth. But, your government does. And they do it by making sure you and I with our 4-5 zeros pay every cent in taxes they can intimidate out of us. If that doesn't scare you, how about this. The highlighted number is only 1/14 of the remaining number 7. No human can comprehend this. Nothing but a computer can do the math because you and I would be wrapped around the axle trying to understand such a sum.


This is all the numbers, the "ones", "tens", "hundreds", "thousands","ten-thousands", "hundred-thousands", "Millions", "Ten-Millions", "Hundred-Millions","Billions", "Ten-Billions", "Hundred-Billions", and (finally) the "Trillions" positions. This is twice as much as we paid for the entire second world war and the reconstruction of Europe. It represents $1,118.23 for every man, woman, and child alive on the entire Earth today. Or, it could be $24,685.29 for each of the 303,824,640 men, women, and kids in the USA alone.

This means that an average family of Mom/Pop and the two kids are worth $98,741.16 in bailout money. After all the numbers shown above, we are down to the five digits that can pay off my home.

It's too bad that Congress has decided to award all that cash to mismanaged business that were over-regulated, over-taxed, and generally driven into the ground.

Personally, I think they ought to cut you and I a check and we will boost the hell out of the local economy by eliminating our house debt, then using the addition four digits of extra cash to eliminate the rest of our debts in a matter of months.

Imagine the stimulus if we took our three digit a week take home pay and could do as we dang well pleased.

Now, do we all get it?

Saturday, March 21, 2009

Obama Backs Off "Bill the Veterans" Proposal

Well, the best news I got today came in the form of a comment from Skippy-San on the "Not my President" post. He wrote to say that Mr. Obama has backed off of his bill-the-veterans scheme. So, I wanted to say thanks to Skippy for alerting me to the change.
House Speaker Nancy Pelosi (D-Calif.) was the first to announce Wednesday afternoon that the president won’t pursue such a proposal.

She told veterans that Obama decided to scrap the proposal “Based on the respect that President Obama has for our nation’s veterans and the principled concerns expressed by veterans’ leaders.” - Source

So I have to take my hat off, exposing my ever growing bald spot, to the Democrats, Republicans, Leftists, Rightists, and of course Mr. Obama for getting off this dead horse. Well Done Folks.

Thursday, March 19, 2009

Conspiracy Theories?

The House of Representatives has taken it upon themselves to openly punish political opponents via taxation. Today:
The House, responding quickly to public outrage over the bonuses after the giant insurer received up to $180 billion in U.S. aid, voted 328-93 to approve a 90 percent tax on bonuses for certain executives at companies getting government aid. -- Source
I wish I could cite the bill number, but the story didn't say. And a search of the word "bonus" in OpenCongress pulls six bills purporting to amend the tax code. AIG gets fed money and uses it to pay big bonuses. The people get pissed off. But, for some reason the people are not pissed at the fed for allowing it in the first place. And those same people cannot see the individual rotting at the root structure of the tree of liberty. Why? No one can see the tree for the forest of a congress that needs to get reelected?

Why am I pissed off? Why am I afraid that Mr. Obama and the Democrat Congress are in collusion to strip my country of the things that make us unique in the world? Why do I fear Eurofication? Please, Read on and Please Comment.

I am afraid because Mr. Obama has betrayed the special trust and confidence that should be held between the US Military & Vets and thier Commander-in-Chief. As mentioned in the previous blog post "Mr. Obama is Not My President" he is openly supportive of abrogating the US Governments moral responsibility to care for and pay for the care of her veterans with service connected disabilities.

I am afraid because HR45, Blair Holt's Firearm Licensing and Record of Sale Act of 2009 will impose licensing of your second amendment rights from sea to shining sea. Once that is done, what will be licensed next? Your religion? Maybe the right to peaceably assemble? Perhaps the Free Press. Pravda anyone?

I am afraid because a punishment tax is about as King George III as you can get. When the majority of the House is so afraid of voter backlash that they immediately rush to impose a tax.... So much for moral courage. Apparently the fact that such an action is unconstitutional is merely another unique Americanism to be swept away.

Don't take my word for it. Instead read what Techlaw says.

Definition: A legislative act that singles out an individual or group for punishment without a trial.

The Constitution of the United States, Article I, Section 9, paragraph 3 provides that: "No Bill of Attainder or ex post facto Law will be passed."

"The Bill of Attainder Clause was intended not as a narrow, technical (and therefore soon to be outmoded) prohibition, but rather as an implementation of the separation of powers, a general safeguard against legislative exercise of the judicial function or more simply - trial by legislature." U.S. v. Brown, 381 U.S. 437, 440 (1965).

"These clauses of the Constitution are not of the broad, general nature of the Due Process Clause, but refer to rather precise legal terms which had a meaning under English law at the time the Constitution was adopted. A bill of attainder was a legislative act that singled out one or more persons and imposed punishment on them, without benefit of trial. Such actions were regarded as odious by the framers of the Constitution because it was the traditional role of a court, judging an individual case, to impose punishment." William H. Rehnquist, The Supreme Court, page 166.

"Bills of attainder, ex post facto laws, and laws impairing the obligations of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. ... The sober people of America are weary of the fluctuating policy which has directed the public councils. They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting personal rights, become jobs in the hands of enterprising and influential speculators, and snares to the more-industrious and less-informed part of the community." James Madison, Federalist Number 44, 1788.

Supreme Court cases construing the Bill of Attainder clause include:

  • Ex Parte Garland, 4 Wallace 333 (1866).
  • Cummings v. Missouri, 4 Wallace 277 (1866).
  • U.S. v. Brown, 381 U.S. 437 (1965).
  • Nixon v. Administrator of General Services, 433 U.S.425 (1977).
  • Selective Service Administration v. Minnesota PIRG, 468 U.S. 841 (1984).

See also, SBC v. FCC.

I am afraid because suddenly, after the election of course, the congress wishes to un-term-limit the office of the president. Amazingly, according to history, the last un-term-limited President was famous for rounding up American citizens of Asian decent and placing them in interment camps guarded by the US Army on American soil. So, it can't happen here right? Sure thing President-for-Life (fill in your blank).

How many other dangers are lurking in the Congressional minefield that we don't know about?

Tuesday, March 17, 2009

Mr. Obama is Not My President

In the Marines you have paygrades such as E1, E2, E3 etc. Then you have ranks. An E5 for example is a Sergeant. In the Navy an E5 is a Petty Officer 2nd Class. Among Marines if you call someone an E4, you are essentially saying that the person isn't a "real" Corporal. They are drawing E4 pay but not living up to the high expectations of the rank.

Well as of today, Mr. Obama is no longer my President. He may hold the title, and he may draw the pay, but he's about as Presidential as Jane Fonda during the Vietnam War.

Mr. Obama is starting to push a plan to have private insurers reimburse the Veterans Administration for treatment accorded to service connected disabled Vets. This is dereliction of duty of the highest order for the so-called Commander In Chief. This nation has a moral obligation to provide care for these vets. This action is dishonorable on so many levels.

Mr. Obama is collaborating with Congress to reward mismanaged banks and failing auto companies with billions of dollars. But, he wants to kick our vets in the balls by telling them that their insurance has to foot the bill for their treatment. Obviously he is not overly appreciative of the sacrifices made by these men and women. Nor has he considered how many of them will be instantly uninsurable or unemployable.

He needs to learn and apply the Leadership Traits and Leadership Principles that all Marines learn. Then, maybe, just maybe, he will begin to understand why vets like me are outraged at even the proposal of this travesty.

Until such time as a public revolt against this egregious act of disrespect causes him to publicly recant..... he isn't worthy of the paycheck he's cashing. He will simply be known as Mr. Obama.

Sunday, March 15, 2009

Presidential Update: Day 50

I almost titled this post "Hawaii Five Oh" since Mr. Obama is from Hawaii and he's been in office about fifty days. I am trying to remain upbeat and positive about his presidency but it is getting harder to do so.

For starters he has presided over the bailout. I know that GWB started it. But, nothing in the world requires the sitting pres to keep it going. It really seems to me that the true leader of the .gov is Nancy Pelosi. I mean, she is telling the Senate that they better not mess with certain bills.

Right now, HR45 AND HR25 are sitting in committee. I am afraid that 45 will pass and 25 will die in committee yet again. Right now we have a 410 Billion dollar Omnibus that is so pork laden that even the hogs are embarrassed. So much for draining the swamp eh?

Folks, I understand that stimulus is supposed to help. I get that the economy needs a shot in the arm. But let me ask you how you feel about saddling your kids and grandkids with debt. I would suggest that you check your congress critters closely. Our elected officials now have a free reign to tax, spend, and tax again without fear of Hawaii Five Oh's intervention. Think about that.

Sunday, March 08, 2009

Obama's Tax Code...

We are barely one month away from Tax Day. Yet, the Congress with President Obamas open support is still messing about with the tax code.
H.R.1317: To amend the Internal Revenue Code of 1986 to provide a tax credit to individuals who pay their mortgages on time. - Source

If you were to look here you would find about 300+ bills with the words "revenue act of 1986" in them. My question to the class is thing: How many of the bills fall within the guidelines set by the enumerated powers? Please read on.

President Obama continues to be very nuanced and is actively courting a press that is openly in love with him. That's great, we saw it with Bull Clinton back in the 90's and we'll see it again. My beef with both the President and the Media is that each is hammering a negative message about the economy instead of pumping up the positive. If you tell enough people that things are bad, they are going to hunker down and stop spending money. And, if you have any ties with the local small businessmen, you know I am right.

Once again we are calling on the President and the Congress to stop the Anti-Constitutional use of tax monies found in the stimulus package, the changes again to the income tax code, and the earmarks. It is time to lead by example instead of perpetuating a class war by demonizing the very wealthy. It is time to lead by example by passing the fair tax instead of modifying the tax code again, and again, and again.

Sunday, March 01, 2009

A Month of Sundays

The President has been in office now for over a month. So far I am not impressed. I have to say that there are some fundamental flaws in how he's doing his job.

The most egregious flaw is that he's set an absolute timetable for the withdrawal
"Let me say this as plainly as I can: By Aug. 31, 2010, our combat mission in Iraq will end," Obama said, adding later, "We seek a full transition to Iraqi responsibility for the security of your country."

of troops from Iraq. Now all the enemy has to do is lie low. I sure hope the Iraqis left behind can live with our decision.

Of course, while he says he supports the second amendment, he has failed to denounce HR45. This bill was the was the topic of my last post. It's in committee now. But I promise that if any of my guys vote for this...... their contracts won't be renewed on the next mass hiring day.

Then there is the stimulus package he signed. This is a half and half scenario. Half the blame goes to Congress for a billion dollar a page boondoggle. The other half of the blame goes to him for signing it. I'd like to know to whom and how it will be disbursed? If we are simply going to continue handing big checks out to failed companies ...

Speaking of a real economic stimulus, there is tax reform. Here we are going into the tax season full tilt and Mr. Obama has not openly endorsed the Fairtax. HR25 was just reintroduced and has 44 co-sponsors. By not endorsing the bill, the President has shown that he supports politics/corruption as simply "business as usual".

So much for change I can get behind. The only change I have left is a couple of nickles I found on the street before the taxman came.