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American Thinker: No One’s Capital Is Safe in Obama’s America

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American Thinker: No One’s Capital Is Safe in Obama’s America.

Posted on Thursday, July 01, 2010 6:59:52 AM by SeekAndFind

Obama’s poorly coded message to investors is to take your money out of America and keep it out. Whether through excessive taxation, suffocating over-regulation, or thuggish confiscation, the lesson to be drawn by anyone with excess capital is to look for friendlier places to put it to work.
The list of friendlier places excludes North Korea, Venezuela, and Iran for the time being, but almost everywhere else qualifies. Russia’s president spent several days in Silicon Valley recently looking for adventurous investors and came away with a $1B commitment from Cisco Systems. For Cisco, sitting on a cash hoard of $30B, with years of experience partnering with the burgeoning Russian venture capital industry, the decision was probably not a very tortured one. And what a perfect opportunity for Cisco’s CEO John Chambers to keep his cash as far from Obama’s collection agencies as possible. 
President Medvedev promises Cisco a capital gains tax rate of zero; President Obama promises to retire the evil George Bush capital gains rate of 15% and increase it to 20% in 2011. Cisco is merely telecasting to anyone who wants to tune in that Russia is taking advantage of Obama’s lurch towards socialism (or worse). While Russia is portraying itself as a stable bastion for capitalists, America is increasingly seen as the land that mauled Chrysler and GM bondholders. While erstwhile command economies are liberalizing, America under Obama is nationalizing. The lesson is clear: Don’t leave cash within the American financial system, earning minimal returns, with the fear that at any moment your assets can be confiscated or redistributed by a lawless and capricious federal government.
When will Obama decide that Cisco (or Wal-Mart, or Apple, or Google, or any other successful enterprise) is not paying its "fair share"? Aren’t the profit margins earned by Cisco on its routers — sometimes approaching 70% — too rich, or even obscene? Aren’t these gains, in essence, nothing but windfall profits resulting in the eventual gouging of the average American internet subscriber? Cisco might not drill in the Gulf of Mexico for its profits, but man-made disasters could await it too, in the form of arbitrary, BP-like shakedowns of its hard-earned wealth. Why risk shakedowns in gangland Obama when a much more competent criminal like Putin will guarantee your investments?
Cisco is not the only company sitting on a gigantic cash cushion. All told, the balance sheet cash for the non-financial segment of the S&P 500 totals around $1 trillion. Businesses sit on these huge asset cushions and accept earning virtually nothing in real terms because risks are too high to consider anything else. 
In 2011, one of the largest tax increases in American history goes into effect. Not only do capital gains rise, but so too does the payroll tax, the income tax, and the estate tax. And even then, businesses large and small, while in their final financial death throes, will have nothing to look forward to other than the doom of ObamaCare and the unknown costs that Obama will attempt to afflict via cap-and-trade and a European-style value-added tax.
Fears are also emerging about the eventual burden imposed on all of us by dozens of states virtually bankrupt, especially if the federal government structures bailouts for those states deemed too big to fail. Unfortunately, the biggest and most likely to fail — California, New York, and Illinois — are Democrat and union fortresses that Obama will not let topple.
These and many other states have already been thrown a life jacket during the last near-trillion dollar stimulus in the form of unemployment insurance and other transfer payments. But the effects of those financial stimulants are beginning to wear off, and the federal drug dealer has little inventory left — except for massive money-printing.
Inflation is almost the last strategy left for the Federal Reserve, having driven short-term interest to zero and purchased all the treasuries, agency, and mortgage debt thrown its way.
Fears of excessive taxation and unpredictable costs are muting American entrepreneurial animal spirits. These fears are likely at the root of our persistently high unemployment. The issue too often is not lack of loan supply to launch a new enterprise, but a lack of demand for the loans to get started. Strangling business creation translates into no new job creation. If you launch a business today and organize as an S-Corporation, how can you be even reasonably sure will you take home enough in profits to justify the initial risk of the undertaking? And if you were successful enough to reach the revenue heights of $250K, Obama would target you as a capitalist predator and promote you to the highest tax bracket.
In contrast to Jefferson’s goal of preserving "a model of government, securing to man his rights and the fruits of his labor, by an organization constantly subject to his own will," our current administration is brutally determined to transform government into an organ that redistributes those fruits to its cronies. The reaction of sane, rational Americans to these perverse incentives is not to create or hire or produce. Instead, existing businesses and potential founders of new ones are hunkering down, hoping to wake up from this national nightmare in 2010 and 2012 with some of their wealth still intact.
Claude can be reached at csandroff@gmail.com.

 

Written by thor

July 1st, 2010 at 7:25 am

California Is Dying—And It’s The Canary In America’s Immigration Coal Mine

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By Donald A. Collins

June 06, 2009

Did you happen to catch Governor Terminator talking about Judgement Day in California? Mr. Schwarzenegger went on the tube this past week to tell us that “We can only spend what we have. That is the harsh but simple reality,” he said in the rare midyear appearance before a joint Legislature session. “Our wallet is empty, our bank is closed and our credit is dried up.”[Schwarzenegger sees opportunity in budget crisis, By Juliet Williams, Associated Press, June 2, 2009,]

Earlier talk of a Federal bailout was judged a poor idea by many, including the Washington Post in a May 24 editorial, just as General Motors went into bankruptcy with billions of our tax dollars as an inducement.

And just now, in responding to the Governor’s urgent message for cutting costs, the California Senate passed a bill to give driver’s licences to illegal aliens.

As if losing an average of almost 600,000 jobs a month in the US should mean we make it easier for the illegal aliens to stay here and to get to jobs American citizens don’t have.

 But then, of course, our helpful Federal government is bowing to strong business pressure and allowing over 100,000 legal aliens a month to come here to the US on various brands of work visas.

How many to California? Well here’s a bit of basic demography.

Since the 1965 changes in our immigration laws, we have added huge numbers of immigrants and their children to our national population. In 1970 California’s population was about 20 million. Today, that population is estimated at about 37 million. Of those, the Center for Immigration Studies estimates about 10 million are legal (7 million) and illegal (3 million) immigrants. 35% of all Californians are persons of Hispanic origin, principally Mexicans. Over 8 million Californians were born outside the USA.

Just on the sheer numbers alone, it is not hard to see why California is now bankrupt.

I am a long-time San Francisco Democrat, now transplanted to Washington D.C. So recently I wrote Congresswoman Nancy Pelosi to ask why we didn’t fix our broken immigration system. This was her June 5, 2009 email reply?

“I have long called for comprehensive immigration reform to address the growing disconnect between our nation’s immigration policy and the reality on the ground in cities and communities across our country. Our immigration system needs to honor the promise of America and recognize the enormous contributions immigrants make to our nation. We must enact immigration reform that is humane and honors our American tradition of being a nation of immigrants and a land of opportunity for all. At the same time, we must secure our borders, enforce our laws, and ensure the safety of the American people.

While immigration reform remains an unsolved challenge for our nation, we must recognize that America was built by immigrants, and the immigrant community continues to make significant contributions to our nation. The debate on immigration reform must be framed by our nation’s rich tradition of respect for our shared immigrant heritage. Please be assured that I will keep your comments in mind as I work with President Obama, leadership and the committees of jurisdiction to develop a strategy to advance immigration legislation that promotes our core American values.”

Can you imagine such chutzpah? You know her “comprehensive immigration reform” simply means “amnesty” for the 20 million illegal aliens here now and encouraging many more later. We know the fiasco that the 1986 immigration reform legislation proved to be.

And believe me House Speaker Pelosi is not alone. Senator Charles Schumer (D-NY) recently held very unbalanced hearings on “comprehensive immigration reform” which failed to give time to those opposed to the massive giveaway of American citizenships.

But it really gets much worse if one is trying to calculate the fiscal effect on California–and project what this means for America.

Folks, California is the biggest example of the famous canary in the coal mine theory ever. Remember, until 1986 in the U.K., canaries were regularly used in coal mines as an early warning system. The birds died in the presence of toxic gases. Because canaries tend to sing much of the time, they provided both a visual and audible cue.

California is certainly getting toxic budgetary news. It is killing the economy and all that this once-vaunted state had to offer in the way of education and environment, making it the envy of the world. The decline I have personally observed is obvious to so many I talk to, yet this fiscal death notice to California which has counterparts in other states, does not seem to worry other Americans—yet.

Fortunately, thanks to a careful and exhaustive research report by Steve Camarota, Director of Research at the Center for Immigration  Studies, entitled “Immigrants in the United States, 2007: A profile of America’s Foreign-Born Population” we learn that:

“Of adult immigrants, 31 percent have not completed high school, compared to 8 percent of natives. Since 2000, immigration increased the number of workers without a high school diploma by 14 percent, and all other workers by 3 percent.

“The proportion of immigrant-headed households using at least one major welfare program is 33 percent, compared to 19 percent for native households.

“The poverty rate for immigrants and their U.S.-born children (under 18) is 17 percent, nearly 50 percent higher than the rate for natives and their children.

“34 percent of immigrants lack health insurance, compared to 13 percent of natives. Immigrants and their U.S.-born children account for 71 percent of the increase in the uninsured since 1989.”

All this means more public costs, more demands on government resources.

How long will this madness continue? California Governor Pete Wilson tried long ago to get help from our Federal Government, but those elected officials knew better than to try to buck the industrial-military complex that now rules our former Republic. Those worthies (notice in what high regard our Congress is rated in the polls) handle immigration like a political popularity contest where the more cheap labor you support importing, the more money flows to re-elect you from the coffers of business.

Result: Just take a look at the bloated California budget. And then we learn that the City of Oakland, California will be soon joining San Francisco in giving all residents including illegal aliens ID cards. That can only serve to add to that city’s nearly $100 million deficit, as public services will now flow to illegal aliens and their anchor babies.

Of course the California voters don’t want to pay to fix this mess. In the May special election, voters rejected all five budget-related measures placed on the ballot by Schwarzenegger and legislative leaders. Revenue has continued to plummet as residents have reduced spending and unemployment has soared to 11 percent.

I predict that as matters get worse—and they surely will–Californians and all Americans will finally wake up to the fact that unchecked immigration, wanton use of the public trough and loss of expected public services will cause a revolt by voters.

But for now too many are sitting on their hands, fat, dumb and perhaps apprehensive but unwilling to take part in the political rough and tumble. Sad that corrective action will likely not happen before devastation to our culture, our traditions, our comity and the prosperity we have enjoyed.

California has had many recent internal signs of overuse and unsustainability. For example, the fish resources of the state have precipitously declined and the commercial salmon fishing season is now closed, while when reasonable new regulations to save the salmon have been proposed, Terminator Schwarzenegger has sided with the farmers who keep degrading the free water they abuse, so that renewal of this great resource is imperilled.

California is the Big Canary. It’s dying—and Americans had better take notice.

Donald A. Collins [email him] is a freelance writer living in Washington DC, and is Co-Chair of the Federation for American Immigration Reform’s (FAIR) National Advisory Board. His view are his own.

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http://vdare.com/collins/090606_immigration.htm

Written by thor

June 15th, 2010 at 8:03 pm

Let It Burn

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For the past hundred years, America has been slowly moving away from the principles of its founding. The ideals of liberty, individual achievement, limited government, and the equality of opportunity have been slowly supplanted by calls for security, class warfare, excessive regulation, and the equality of outcome. The passage of stimulus acts, bailouts, government takeovers of two U.S. automakers, and the health care overhaul prove that our movement away from 1776 has accelerated. 

Passage of the health care bill has sparked a revival of small-government thinking, causing many to predict significant Republican gains in Congress this fall. But despite some short-term success, this small-government revival is doomed to fail. The depressing truth is that the only way to regain the full measure of those freedoms proclaimed in our Founding Documents is for our current federal government to completely collapse under the weight of its own excesses.

Let It Burn.

Written by thor

May 18th, 2010 at 10:12 am

FOXNews.com – Federal Judge Awards Illegal Immigrant $145G Over Civil Rights Violation

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FOXNews.com – Federal Judge Awards Illegal Immigrant $145G Over Civil Rights Violation

An illegal immigrant with a long rap sheet got a $145,000 parting gift from New York City taxpayers before he was deported, after a federal judge ruled his civil rights had been violated when he was held too long on Rikers Island.

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Written by thor

May 9th, 2010 at 9:03 am

The Prague Post – Opinion – Growing optimism

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The Prague Post – Opinion – Growing optimism.

The landslide victory of Fidesz in Hungary’s elections creates excitement for the first time in years; too bad most international analysts are easily distracted

Despite the skeptical and in some cases hostile reaction by most of the international media toward the recent political changes in Hungary, most Hungarians are optimistic and content. After years of the “doing nothing” policy of the Socialist party – during which the country sank into deep economic and moral morass – it is finally over. <snip>

For the first time in a long time, things are looking up – not that the international press seems to have noticed.

- The author is the online editor for the Hungarian weekly magazine HVG. He was formerly editor of the World Bank’s Transitions newsletter and a John S. Knight Fellow at Stanford University. 

Richard Hirschler can be reached at
features@praguepost.com

Written by thor

May 8th, 2010 at 10:21 am

HATS OFF TO CHARLIE DANIELS….AT LEAST HE HAS THE COURAGE TO SPEAK HIS MIND!!!

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I don’t know how everybody else feels about it, but to me I

think Hispanic people in this country, legally or illegally,

made a huge public relations mistake with their recent demonstrations.

I don’t blame anybody in the world for wanting to come to the

United States of America , as it is a truly wonderful place.  

But when the first thing you do when you set foot on American soil is illegal it is flat out wrong and I don’t care how many lala land left heads come out of the woodwork and start trying

to give me sensitivity lessons.

I don’t need sensitivity lessons, in fact I don’t have any-thing against Mexicans!  I just have something against criminals and anybody who comes into this country illegally is a criminal

and if you don’t believe it try coming into America from a foreign country without a passport and see how far you get. What disturbs me about the demonstrations is that it’s tanta-mount to saying, “I am going to come into your country even if it means breaking your laws and there’s nothing you can do about it.”

It’s an “in your face” action and speaking just for me, I don’t like it one little bit and if there were a half dozen pairs of gonads in Washington bigger than English peas it wouldn’t be happening.

Where are you, you bunch of lily livered, pantywaist, forked tongued, sorry excuses for defenders of The Constitution? Have you been drinking the water out of the Potomac again?

And even if you pass a bill on immigration it will probably be so pork laden and watered down that it won’t mean anything anyway Besides, what good is another law going to do when you

won’t enforce the ones on the books now? 

And what ever happened to the polls, guys?  I thought you folks were the quintessential finger wetters.  Well you sure ain’t paying any attention to the polls this time because somewhere around eighty percent of Americans want some thing done about this mess, and mess it is and getting bigger everyday. 

This is no longer a problem, it is a dilemma and headed for being a tragedy.  Do you honestly think that what happened in France with the Muslims can’t happen here when the businesses who hire these people finally run out of jobs and a few million disillusioned Hispanics take to the streets? 

If you, Mr. President, Congressmen and Senators, knuckle under on this and refuse to do something meaningful it means that you care nothing for the kind of country your children and grand-children will inherit.  But I guess that doesn’t matter as long as you get re-elected.

Shame on you. 

One of the big problems in America today is that if you have the nerve to say anything derogatory about any group of people (except Christians) you are going to be screamed at by the media and called a racist, a bigot and anything else they can think of to call you 

Well I’ve been pounded by the media before and I’m still rockin’ and rollin’ and when it comes to speaking the truth I fear not. 

And the truth is that the gutless, gonadless, milksop politicians are just about to sell out the United States of America because they don’t have the intestinal fortitude to stand up to face reality. 

And reality is that we would never allow any other group of people to have 12 million illegal in this country and turn around and say, “Oh it’s ok, ya’ll can stay here if you’ll just allow us to slap your wrist.”

And I know that some of you who read this column are saying “Well what’s wrong with that?” 

I’ll tell you what’s wrong with it.  These people could be from Mars as far as we know.  We don’t know who they are, where they are or what they’re up to and the way the Congress is going we’re not going to. 

Does this make sense?  Labor force you say?  We already subsidize corporate agriculture as it is, must we subsidize their labor as well? 

If these people were from Haiti would we be so fast to turn a blind eye to them or if they were from Somalia or Afghanistan ? 

I think not. 

All the media shows us are pictures of hard working Hispanics who have crossed the border just to try to better their life. 

They don’t show you pictures of the Feds rounding up members of MS 13, the violent gang who came across the same way the decent folks did.  They don’t tell you about the living conditions of the Mexican illegal some fat cat hired to pick his crop. 

I want to make two predictions. 

No. 1: This situation is going to grow and fester until it erupts in violence on our streets while the wimps in Washington drag their toes in the dirt and try to figure how many tons of political hay they can make to the acre. 

No 2: Somebody is going to cross that border with some kind of weapon of mass destruction and set it off in a major American city after which there will be a backlash such as this country has never experienced and the Capitol building in Washington will probably tilt as Congressmen and Senators rush to the other side of the issue.  

I don’t know about you but I would love to see just one major politician stand up and say, “I don’t care who I make mad  and I don’t care how many votes I lose, this is a desperate situation and I’m going to lead the fight to get it straightened out.” 

I don’t blame anybody for wanting to come to America , but if you don’t respect our immigration laws why should you respect any others?   

And by the way, this is America and our flag has stars and stripes  Please get that other one out of my face. 

God Bless America

Charlie Daniels  

MY COUNTRY

  IF IT IS YOUR COUNTRY,

SPEAK UP!

I am not against immigration -

just come through like everyone else

Get a sponsor;

have a place to lay your head;

have a job;

pay your taxes;

live by the rules;

  and

LEARN THE LANGUAGE

as all other immigrants have in the past

and

GOD BLESS AMERICA!

PART OF THE PROBLEM

Think about this:

If you don’t want to forward this

for fear of offending someone,

YOU’RE PART OF THE PROBLEM!

Will we still be the Country of choice

and still be America if we continue

to make the changes forced on us by

people from other countries who came

  to live in America because it is the

Country of Choice?

Think about it!

All we have to say is, when will

Someone do something about

MY RIGHTS?  

We’ve gone so far the other way,

bent over backwards to not

offend anyone, that I am now

  being offended.

But it seems no one has a problem

with that.

“In God We Trust”

is our national motto. This is not

some Christian, right wing, political slogan.

We adopted this motto because Christian men

  and women – on Christian principles – founded

  this nation, and this is clearly documented. It is certainly appropriate to display it on the walls

 of our schools.  

It is Time for America to Speak up

Written by thor

May 5th, 2010 at 8:05 pm

FOXNews.com – Groups Raise Alarm Over Social Security Tampering as Debt Panel Starts Negotiations

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FOXNews.com – Groups Raise Alarm Over Social Security Tampering as Debt Panel Starts Negotiations

nterest groups are sounding the alarm that President Obama’s newly created debt commission could start hacking away at Social Security benefits in the name of closing the budget gap.

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Written by thor

April 27th, 2010 at 7:16 pm

Breaking: Dems Hid Damning Health Care Report From Public Until a Month After Vote!

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Breaking: Dems Hid Damning Health Care Report From Public Until a Month After Vote!.

More hope and change–

A damning health care report generated by actuaries at the Health and Human Services (HHS) Department was given to HHS Secretary Kathleen Sebelius more than a week before the health care vote. She hid the report from the public until a month after democrats rammed their nationalized health care bill through Congress.

The results from the report were troubling. The report released by Medicare and Medicaid actuaries shows that medical costs will skyrocket rising $389 billion 10 years. 14 million will lose their employer-based coverage. Millions of Americans will be left without insurance. And, millions more may be dumped into the already overwhelmed Medicaid system. 4 million American families will be hit with tax penalties under this new law.

Of course, these were ALL things that President Obama and Democratic leaders assured us would not happen.

Written by thor

April 27th, 2010 at 12:12 pm

FOXNews.com – GM Could Be in Hot Water With FTC Over Truth in Advertising

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FOXNews.com – GM Could Be in Hot Water With FTC Over Truth in Advertising

General Motors is running ads on all the major networks this week claiming it has repaid its bailout from the taxpayers “in full.” But the claim isn’t standing up to scrutiny from lawmakers and government watchdogs who have found that the automaker was able to repay the bailout money only by dipping into a separate pot of bailout funds.

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Written by thor

April 24th, 2010 at 9:10 am

ObamaCare Law Created Military-style “Draft” for Healthcare Workers!!!

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By Peter Andrew
ConservativeAmerican.org
Leading the way Right with unique & fun
Conservative American News & Views.

You can always count on the Obama Administration to prevent major news from breaking until Friday afternoon! Today we learn the ObamaCare Nightmare Law created what is called a “Ready Reserve Corps.” What does it do?

The law (it’s too late folks, this is already law) allows the President to force healthcare workers from each state into national service without their consent

…and without the consent of their Governor! The five pages of the 2,700 page ObamaCare Nightmare that deal with this are short on details. The Ready Reserve Corps is some kind of para-military-like group that can force healthcare workers, doctors and nurses, into this military-like national service against their will! The President makes a call and then doctors and nurses would have to go train with the military for possible deployment. He can even prevent doctors and nurses in the corps from retiring!

Progressive-Democrats in the U.S. House and U.S. Senate joined with the nation’s first Socialist President, Barack Hugo Obama, to create a DRAFT FOR HEALTHCARE WORKERS!!!!!!!!!!!!

What in the heck has happened to the United States of America that we love?

Where has it gone? Will we be able to bring it back starting in November? Or will President Obama succeed with his plan to do it harm that cannot be turned back?

Passing a military-style draft of Health Care workers without debate, without discussion, without telling anyone… this is undoubtedly the worst piece, and most damaging piece, of legislation ever passed in this great nation’s history.

Progressive-Socialist-Democrats have some ’splainin’ to do. Will anyone make them do it?