Link: http://www.ignoranceorapathy.com/main.php/2008/10/24/democrats-to-destroy-401-savings

© ignoranceorapathy.com 11/06/2008
It is not that I want to say I told you so, but, I did tell you so and you elected the socialists anyway.
In my writings of Oct. 23rd I pointed you to the article on workforce.com House Democrats Contemplate Abolishing 401(k)Tax Breaks.

Before I point you to the latest in this saga I just want to paint a very ugly picture of the future of the markets if this continues to go forward and becomes policy and law.

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Link: http://www.workforce.com/section/00/article/25/83/58.php

© ignoranceorapathy.com 10/23/2008

You do not have to dig very deep to find the problems with Obama’s tax speeches. Here is one of the reasons we must not send back the same ole Senator and Congressmen, taking back either or both houses of congress is just as important as the White House this year.

According to his statements on the campaign trail and in the debates, he is going to cut taxes. He states he will be cutting taxes for 95% of Americans and he promised a capitol gains tax cut for small business (what small business pays capitol gains taxes, they pay income taxes), among other things.

Article on WorkForce.com House Democrats Contemplate Abolishing 401(k) Tax Breaks.

Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.

House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.

Oh how lovely a brand new and additional tax and social security program.

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In this great land of ours we are blessed with some of the best and brightest minds. Every now and then one even shows up as an elected official. Where did they go? Where are the congressmen and senators who voted against the socialist bailout / cover-up bill? Where are the great constitutional scholars? Why isn’t there a vast coalition formed from political leaders, scholars and grass roots organizations taking this abomination to the doors of the Supreme Court. This bill clearly violates Article I, Article II and the Tenth amendment to our Constitution.
The Federal Government clearly does not have the expressed powers granted to it to nationalize private entity losses and to nationalize private businesses in part or whole.

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Link: http://www.obamacrimes.com/index.php/component/content/article/1-main/32-fox-toledo-news-airs-berg-v-obama-story

Mr. Berg gave a great interview with Fox Toledo affiliate WUPW Channel 3 (there is a long version of the interview on their site). One point that Mr. Berg makes again is that the court needs get moving forward on this. These questions should not be allowed to persist through the election and possibly the inauguration.
I have been playing the nightmare scenarios over and over in my head and bouncing them off some colleagues and friends, I have not seen that amount of fear in anyone’s eyes in a long time.

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After the behavior of the worlds markets this week there is little room for doubt, the world is afraid. Now that the House and Senate have passed this massive socialist bailout / cover-up bill and the President has signed it, the world seems to be trembling.
Ok, maybe not actually trembling, but the worlds markets are shaky. I have found no reason to doubt that the markets are afraid that the #1 free market capitalist society will become just another socialist failure.
No sooner than the ink dried on the bailout the new Housing / Mortgage Czar, Treasury Secretary Paulson was talking about going even further and in effect nationalizing banks. That is the net effect of the government buying equity shares in banks.
So that’s how a free market republic dies, to thunderous applause.

May God have mercy on us all for letting the Democratic party lead us down the path of socialism.

Oh and for those of you who still want to blame this melt down on Bush. It was Carter's CRA (Community Reinvestment Act) and Clintons expanding of it that pushed us into this mess. Also, they try to blame the republicans for not stopping Fannie and Freddie, lets stop and ask our selves, who has been the majority party in congress for most of the last 50 years? The Socialist, Liberal-Democratic Party.