How Much Does an Election Cost?
If you’re talking about Obama and ACORN: $800,000.
The Creature Multiplies
The Federal Reserve springs into action again to “rescue” the ship of state.
Obama’s Taxing Tax Plan
How can 95 percent of the people receive a tax cut if 40 percent of the people do not even pay income tax?
Just how much does an election cost these days?
Well, $832,598.29 would be a good start.
As reported by the Washington Times today , that is how much money the Obama campaign paid to Citizen Services Inc. (CSI), an off-shoot of the Association of Community Organizations for Reform Now—better known as ACORN—from February 25 through May 17 of this year. The money was used for “get-out-the-vote” projects. However, criticism has arisen over the past several weeks regarding Barack Obama’s so-called “mistaken” disguising of these donations in his FEC disclosure as “advance work.”
So why would the Obama campaign perhaps seek to cover up these large donations by misrepresenting them in federal reports.
It might have something to do with the steadily emerging reality that ACORN happens to be one of the most widespread criminal organizations in the nation whose actions subvert democracy on behalf of their chosen liberal politicians. Barack Obama—having been openly endorsed by ACORN’s political action committee—is one of their chosen. After all, Barack Obama chose them back in 1992 when he worked for the ACORN off-shoot Project Vote and then again in 1995 when he represented ACORN in legal matters.
Unfortunately for Senator Obama, ACORN is one nutty organization he does not want to be associated with—and for good reason.
As a recent Investor’s Business Daily article outlines in full, ACORN’s criminal activity is long-lasting, widespread and rampant . Their most troubling activity is nationwide voter fraud in places like Nevada, North Carolina, Missouri, Indiana, Wisconsin, Colorado, Ohio, Florida, Pennsylvania and Tennessee.
ACORN has turned in thousands of fraudulent voter registration cards, registered dead people, registered the same people numerous times, registered incarcerated people, registered fake people and even fraudulently registered the starting lineup of the Dallas Cowboys. In Indianapolis, for example, 105 percent of the population is registered to vote . What makes this situation all the more troubling is ACORN’s unabashed support for ultra-liberals like Barack Obama. It’s fast becoming clear that ACORN loves Democrats but hates democracy.
That being said, it is no mystery why Barack Obama would try to conceal his $800,000 donation to ACORN’s “get-out-the-vote” activities. As Blair Latoff, spokeswoman for the Republican National Committee remarked in a Pittsburgh Tribune-Review article:
"Barack Obama's failure to accurately report his campaign's financial records is an incredibly suspicious situation that appears to be an attempt to hide his campaign's interaction with a left-wing organization previously convicted of voter fraud. For a candidate who claims to be practicing 'new' politics, his FEC reports look an awful lot like the 'old-style' Chicago politics of yesterday."
In the same article, Jim Terry, spokesman for a group that tracks ACORN, also pointed out the following:
"All of this just seems like an awful lot of money and time spent on political campaigning for an organization that purports to exist to help low-income consumers…ACORN has a long and sordid history of employing convoluted Enron-style accounting to illegally use taxpayer funds for their own political gain…Now it looks like ACORN is using the same type of convoluted accounting scheme for Obama's political gain."
The truth can only stay hidden for so long: it is looking increasingly like Barack Obama may be trying to buy this election through his surrogates at ACORN. The dots—and fraudulent votes—are not hard to connect. In the least, it doesn’t look good. With full knowledge of their past behavior and anti-democratic tendencies, the Democrat nominee for President of the United States appears to have recruited ACORN to illegally circumvent the electoral process. Barack Obama is complicit in every sense of the word.
Just yesterday, Americans for Limited Government president Bill Wilson issued a statement calling for the United States Attorney General to launch an investigation into Obama’s ties to ACORN . As he stated:
“This appears to be a concerted, coordinated effort to elect Senator Barack Obama to be president by whatever means necessary…If law enforcement officials do not act quickly, the entire legitimacy of the 2008 election will be undermined.”
With the legitimacy of the election in question, the nation’s top law enforcement officials must aggressively follow up on this travesty.
Even John McCain, who has a tendency to tread lightly around Barack Obama’s scandals, cannot ignore what is going on here. In somewhat atypical fashion, Senator McCain became aggressive yesterday at a campaign rally in Wisconsin to criticize Obama’s ties to ACORN:
“There are serious allegations of voter fraud in the battleground states across America. They must be investigated and no one should corrupt the most basic right we have, and that is the right to vote.”
Nevertheless, Senator McCain needs to go a step further. The voter registration files of all these states in question need to be impounded and federal Marshals should be stationed at every polling station in America to ensure the legitimacy of this upcoming election. The seriousness and gravity of this situation should not be taken lightly.
The first responsibility of government is to protect the American people and the sanctity of democracy—and that includes the very ballot itself.
Allowing a candidate to buy an election would be a tragedy of unprecedented degree.
The Creature from Jekyll Island is back again, and this time it’s multiplying.
Normally, when the Federal Reserve Board of Governors meets to cut interest rates, it will be a decision independent of what the world’s other central banks are up to. Not so with Wednesday’s reduction of the federal funds rate from 2 percent to 1.5 percent . This was a coordinated, global interest rate reduction:
“Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
“Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability.
“Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions.
“Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions…
“The Federal Open Market Committee has decided to lower its target for the federal funds rate 50 basis points to 1-1/2 percent. The Committee took this action in light of evidence pointing to a weakening of economic activity and a reduction in inflationary pressures.”
Basically, the Fed—and the rest of the world’s central banks—have figured out how they’re going to pay for the latest round of bailouts: by debasing currencies worldwide. Yesterday’s market results are instructive: the market continued to tank, and gold rallied.
While it is near impossible to predict long term trends based on a single day’s numbers, there is an growing body of evidence that monetary easing eventually is felt with surging commodities prices . In other words, the federal government’s market interventions have not stopped the slide, and its actions to throw more than $1.5 trillion at the problem may already be creating a new round of inflation. It may take some time for its full effects to be felt, but they will be.
The lesson is instructive, and the implications are destructive. This system was created by government, implemented by government, and now that system is collapsing under its own weight. It was only a matter of time.
The decisions made this year—$29 billion to bailout Bear Sterns, $150 billion economic “stimulus,” $200 billion to nationalize Fannie and Freddie, $300 billion for foreclosure “prevention,” $123 billion in loans to AIG, acquiring $9 billion in risk from Indy Mac, and finally the most recent $800+ billion bailout—were not economically sound. But at the time—and for decades—they were politically attractive.
And slowly but surely, the taxpayer is being enslaved to the national debt. With the latest bailout the debt ceiling was raised to over $11 trillion. The result?
These bailouts will be paid for one way or another. And when it comes to the Creature, you can be sure it will eventually come in the form of higher prices.
The current market correction was going to eventually happen with or without government intervention. It was not preventable, and the efforts of the Fed, Treasury, and Congress to try to prevent it were foolish and wasteful.
In truth, this correction would have happened already if the bailouts had not begun in March, and the economy would already be on the road to recovery. Instead the bailouts have prolonged the market contraction. And now they are distorting the current correction. This is far worse than it needed to be.
But it’s really worse than that. The central banks of the world believe that the solution to the global debt crisis is to, you guessed it, borrow more ! This fits well with Einstein’s definition of insanity.
Governments want to encourage lending and credit in the short term because the current economic system cannot function without extraordinary debt. However, too much credit was how this crisis occurred in the first place. And yet more credit will not solve the root cause: the fiat currencies of the world’s central banks.
So, the nation has wasted some $1.5 trillion just this year to prevent a recession that was going to happen anyway. And the only solutions offered thus far have consisted of further debasing currencies all over the world.
We were all warned of this Creature long ago , and now the madness is multiplying.
“Barack Obama’s tax plan delivers broad-based tax relief to middle class families and cuts taxes for small businesses and companies that create jobs in America, while restoring fairness to our tax code and returning to fiscal responsibility. Coupled with Obama’s commitment to invest in key areas like health, clean energy, innovation and education, his tax plan will help restore bottom-up economic growth that helps create good jobs in America and empowers all families achieve the American dream.”
Obama’s tax plan is a lot like Barack Obama himself: superficially appealing but socialist at the core. The plan is to take money from the few and give it to the many in the age-old Marxist and Soviet tradition. As the following quote from the New York Post eloquently summarized :
"Under his plan - which would be the largest tax hike in at least a decade - the 6.2 percent payroll tax would be applied to the entire income of workers making $250,000 or more a year. Currently, that rate applies only to the first $102,000 of income…
"A worker making $200,000 a year would pay no additional payroll taxes under Obama's plan. But anyone making $250,000 a year or more would pay 6.2 percent in payroll taxes on their entire income - not just on their first $102,000.
"Though Obama's tax-hike plan is still vague, it appears the tax would apply also to employers who match workers' payments, amounting to another proposed tax increase on businesses.
"‘Barack Obama likes to think that his tax increases will only hit a few Americans, but in truth, his economic plan will be a disaster for everyone, especially seniors,’ McCain spokesman Tucker Bounds said.
"‘Because of Barack Obama's tax increases, one out of every three senior households will end up paying higher taxes,’ he said…”
“Senator Obama's new tax rate would give the United States one of the highest tax rates among developed countries. Currently only six of the top 30 industrial nations have a tax rate for all levels of government combined of over 55 percent. Under this tax plan, the United States would join this group and have a higher top rate than such high-tax nations as Sweden and Denmark… Historically, Senator Obama's tax rate would be the highest individual tax rate since the Jimmy Carter days.”
Although it is disguised and fluffed up to appeal to the American people, Senator Obama’s tax plans for America would have a crippling effect on an already struggling U.S. economy. And repealing the Bush tax cuts are just the beginning. The bottom line is that Obama seeks to punish success.
The implications of this mindset are extremely disconcerting.
If wealth is punished, what incentives will the wealthy have to stay and invest in America? What incentives will the wealthy have to give back to the economy, build big businesses, create jobs and keep the economic engine running? Moreover, what incentives will middle and lower class Americans have to achieve great wealth if Big Government punishment is what awaits them?
Barack Obama’s tax policy is an assault on the American Dream. And he has a knife to the throat of the American taxpayer.
This plan will kill jobs and trigger widespread tax-evasion reminiscent of the Carter years. In fragile economic times such as these, the last thing Americans need is the burden of Government keeping them from realizing fulfilled economic freedom. America’s is a government of the people, by the people, and for the people—not above the people.
The most frightening aspect of this tax plan, however, are its socialist underpinnings. Once voters see through the rhetoric, Obama’s words are anchored in the principles of class warfare and wealth redistribution. As the following quote from Gather.com articulates :
“Another study by the Tax Foundation in 2004 found that ‘...the nation's tax and spending policies redistributed more than $1 trillion in income from the top 40 percent of American households to the bottom 60 percent of households.’
"That income redistribution is about to get even worse. With Obama pledging to give at least $500 to every single American worker making less than $250,000 per year and $1,000 to every couple making less than $250,000 per year, money will be taken from some tax payers and given to others.”
America is a nation founded on the resilience of capitalistic individualism and this country must reject Barack Obama’s socialist redistribution of wealth. After all, it is clear how well it worked out for the Soviet Union.http://www.getliberty.org/content.asp?pl=37&contentid=37#Obama_s_Taxing_Tax_Plan