Go Away Washington
Originally Posted At
Forbes.com
Back On The Margin
By Lawrence A. Hunter, Ph.D.
September 11, 2011
Is the American public so stupid that it is going to fall for Obama’s latest shell game called
“The American Jobs Program,” which more accurately should be called Obama’s
Pompous
Overheated
Overhyped
Promises, i.e., Obama POOP? Probably. After all, they still believe the tripe their own favorite politicians feed them in daily emails, press releases, candidate “debates” and other outlets of partisan propaganda.
Obama’s so-called jobs program is an elaborate exercise in robbing Peter to pay Paul—the only thing the modern welfare state knows how to do—where Paul turns out to be a government employee or contractor or someone on the public dole while Peter is the same old hard-working taxpayer and senior citizen on Social Security and Medicare whom politicians of both political parties have been conning for years.
Here is the essence of Obama’s so-called “jobs program,” which is nothing more than an elaborate game of Three-Card Monte:
1. Spend more federal money—more Keynesian stimulus that already has failed twice before.
2. “Pay for it” by borrowing more money off the books, cutting Medicare and Social Security through sly devices (such as the Chained Consumer Price Index) rammed through Congress on the Super Committee Express, and raising taxes, all under the guise of “innovation and reform.”
3. Subsidize more state and local government spending through a new government-owned bank (innovative in form only, not substance) that would provide states and local governments loans and subsidies, loan guarantees, bonds and debt securities by relying on the Fed to print more money and borrowing money off the books and then pooling these infrastructure-related loans and securities on the market to “spread risk” (i.e., spread the risk from state and local politicians to the taxpayers who would be on the hook for more bond-holder bailouts). Sound familiar? Can you say Washington Derivatives, Fannie-Mae and Freddie-Mac for politicians?
4. Subsidize unemployment.
5. Undermine Social Security by raiding its dedicated source of revenue, the payroll tax, which would increase the annual Social Security revenue deficit, which would require the program to redeem more Trust Fund bonds each year, which in turn would require the Treasury to come up with more money to redeem the bonds, which means the federal government would have to raise taxes on someone else, borrow more money from the public or cut other spending. Even if Congress would cut other spending, it wouldn’t reduce the size of government; it would only be keeping up on the treadmill to make up for the other increased “stimulus” spending Obama is demanding. And oh by the way, it would give Congress a perfect excuse to cut Social Security benefits to reduce the annual Social Security revenue deficit, which it would have just increased to pay for Obama’s POOP. The Raid on Social Security goes on as the snake swallows its tale.
Entreaty to Congress: “You have sat too long for any good you have been doing lately. . .Depart, I say; and let us have done with you. In the name of God, go!” Go away Washington, and let the automatic sequester spending cuts kick in.
Entreaty to the American People: Fire them all. If necessary, replace them with yellow dogs. The beasts couldn’t possibly do any worse than the current pack of dogs already do do.
Exit Not An Option In Chuck Schumer's America. New York Senator Chuck Schumer has introduced the Fugitive Taxpayer Act of 2012 to re-impose taxes on expatriates after they flee the United States and take up residence in a foreign country. Proposal also would impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship and would bar such individuals from ever reentering the United States again.
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