Manly’s Blog

Things that pour out of my head when I’m not looking..

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Gun control humor (not really). Stupid reasons for gun control.

4th February 2010

From an article titled “It’s amazing what one has to believe to believe in gun control”.

1. Banning guns works, which is why New York, DC, & Chicago cops need guns.

2. Washington DC’s low murder rate of 69 per 100,000 is due to strict gun control, and Indianapolis’ high murder rate of 9 per 100,000 is due to the lack of gun control.

3. Statistics showing high murder rates justify gun control but statistics showing increasing murder rates after gun control are “just statistics.”

4. The Brady Bill and the Assault Weapons Ban, both of which went into effect in 1994 are responsible for the decrease in violent crime rates, which have been declining since 1991.

5. We must get rid of guns because a deranged lunatic may go on a shooting spree at any time and anyone who would own a gun out of fear of such a lunatic is paranoid.

6. The more helpless you are the safer you are from criminals.

7. An intruder will be incapacitated by tear gas or oven spray, but if shot with a .357 Magnum will get angry and kill you.

8. A woman raped and strangled is morally superior to a woman with a smoking gun and a dead rapist at her feet.

9. When confronted by violent criminals, you should “put up no defense — give them what they want, or run” (Handgun Control Inc. Chairman Pete Shields, Guns Don’t Die – People Do, 1981, p.125).

10. The New England Journal of Medicine is filled with expert advice about guns; just like Guns & Ammo has some excellent treatises on heart surgery.

11. One should consult an automotive engineer for safer seatbelts, a civil engineer for a better bridge, a surgeon for internal medicine, a computer programmer for hard drive problems, and Sarah Brady for firearms expertise.

12. The 2nd Amendment, ratified in 1787, refers to the National Guard, which was created 130 years later, in 1917.

13. The National Guard, federally funded, with bases on federal land, using federally-owned weapons, vehicles, buildings and uniforms, punishing trespassers under federal law, is a “state” militia.

14. These phrases: “right of the people peaceably to assemble,” “right of the people to be secure in their homes,” “enumerations herein of certain rights shall not be construed to disparage others retained by the people,” and “The powers not delegated herein are reserved to the states respectively, and to the people” all refer to individuals, but “the right of the people to keep and bear arm” refers to the state.

15. “The Constitution is strong and will never change.” But we should ban and seize all guns thereby violating the 2nd, 4th, and 5th Amendments to that Constitution.

16. Rifles and handguns aren’t necessary to national defense! Of course, the army has hundreds of thousands of them.

17. Private citizens shouldn’t have handguns, because they aren’t “military weapons”, but private citizens shouldn’t have “assault rifles”, because they are military weapons.

18. In spite of waiting periods, background checks, finger printing, government forms, etc., guns today are too readily available, which is responsible for recent school shootings. In the 1940’s, 1950’s and1960’s, anyone could buy guns at hardware stores, army surplus stores, gas stations, variety stores, Sears mail order, no waiting, no background check, no fingerprints, no government forms and there were no school shootings.

19. The NRA’s attempt to run a “don’t touch” campaign about kids handling guns is propaganda, but the anti-gun lobby’s attempt to run a “don’t touch” campaign is responsible social activity.

20. Guns are so complex that special training is necessary to use them properly, and so simple to use that they make murder easy.

21. A handgun, with up to 4 controls, is far too complex for the typical adult to learn to use, as opposed to an automobile that only has 20.

22. Women are just as intelligent and capable as men but a woman with a gun is “an accident waiting to happen” and gun makers’ advertisements aimed at women are “preying on their fears.”

23. Ordinary people in the presence of guns turn into slaughtering butchers but revert to normal when the weapon is removed.

24. Guns cause violence, which is why there are so many mass killings at gun shows.

25. A majority of the population supports gun control, just like a majority of the population supported owning slaves.

26. Any self-loading small arm can legitimately be considered to be a “weapon of mass destruction” or an “assault weapon.”

27. Most people can’t be trusted, so we should have laws against guns, which most people will abide by because they can be trusted.

28. The right of Internet pornographers to exist cannot be questioned because it is constitutionally protected by the Bill of Rights, but the use of handguns for self defense is not really protected by the Bill of Rights.

29. Free speech entitles one to own newspapers, transmitters, computers, and typewriters, but self-defense only justifies bare hands.

30. The ACLU is good because it uncompromisingly defends certain parts of the Constitution, and the NRA is bad, because it defends other parts of the Constitution.

31. Charlton Heston, a movie actor as president of the NRA is a cheap lunatic who should be ignored, but Michael Douglas, a movie actor as a representative of Handgun Control, Inc. is an ambassador for peace who is entitled to an audience at the UN arms control summit.

32. Police operate with backup within groups, which is why they need larger capacity pistol magazines than do “civilians” who must face criminals alone and therefore need less ammunition.

33. We should ban “Saturday Night Specials” and other inexpensive guns because it’s not fair that poor people have access to guns too.

34. Police officers have some special Jedi-like mastery over hand guns that private citizens can never hope to obtain.

35. Private citizens don’t need a gun for self-protection because the police are there to protect them even though the Supreme Court says the police are not responsible for their protection.

36. Citizens don’t need to carry a gun for personal protection but police chiefs, who are desk-bound administrators who work in a building filled with cops, need a gun.

37. “Assault weapons” have no purpose other than to kill large numbers of people. The police need assault weapons. You do not.

38. When Microsoft pressures its distributors to give Microsoft preferential promotion, that’s bad; but when the Federal government pressures cities to buy guns only from Smith & Wesson, that’s good.

39. Trigger locks do not interfere with the ability to use a gun for defensive purposes, which is why you see police officers with one on their duty weapon.

40. Handgun Control, Inc. says they want to “keep guns out of the wrong hands.” Guess what? You have the wrong hands.

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Ahoy there, massive new taxes!

21st December 2009

Take a look at all the tax hikes in the healthcare plan.  This is just nuts.  What a complete piece of garbage.

The one saving grace we all have is that it will be tied up in court as it is arguably unconstitutional for the federal government to require private citizens to purchase any good or service.  If you think this will lower costs or reduce the deficit you need your head examined. It’s all accounting trickery. Just wait until they add back the “doctor fix” in additional legislation. This thing then gets to be a few hundred billion even more expensive. They all know that they will have to add this back, they just won’t discuss it.

Manly

P.S. repost from http://www.atr.org

— CUT HERE —

Individual Mandate Tax (Page 324/Sec. 1501/$15 bil/Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following (page 71 of manager’s amendment updates Reid bill):

Single 2 People 3+ People
2014 $495/0.5% AGI $990/0.5% AGI $1485/0.5%/AGI
2015 $495/1.0% AGI $990/1.0% AGI $1485/1.0%/AGI
2016+ $495/2.0% AGI $990/2.0% AGI $1485/2.0%/AGI

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).

Employer Mandate Tax (Page 348/Sec. 1513/$28 bil/Jan 2014):  If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $750 for all full-time employees.  Applies to all employers with 50 or more employees.

If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).

Excise Tax on Comprehensive Health Insurance Plans (Page 1979/Sec. 9001/$149.1 bil/Jan 2011): Starting in 2013, new 40 percent excise tax on “Cadillac” health insurance plans ($8500 single/$23,000 family).  Higher threshold ($9850 single/$26,000 family) for early retirees and high-risk professions.  CPI +1 percentage point indexed.  Longshoremen have been exempted (page 362 of the manager’s amendment)

From 2013-2015, the 17 highest-cost states are 120% of this level.

Employer Reporting of Insurance on W-2 (Page 1996/Sec. 9002/Min$/Jan 2011): Preamble to taxing health benefits on individual tax returns.

Medicine Cabinet Tax (Page 1997/Sec. 9003/$5 bil/Jan 2011): No longer allowable to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)

HSA Withdrawal Tax Hike (Page 1998/Sec. 9004/$1.3 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

FSA Cap (Page 1999/Sec. 9005/$13.3 bil/Jan 2011): Imposes cap on FSAs of $2500 (now unlimited).  Indexed to inflation after 2011 (added on page 363 of manager’s amendment)

Corporate 1099-MISC Information Reporting (Page 1999/Sec. 9006/$17.1 bil/Jan 2012): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers

Excise Tax on Charitable Hospitals (page 2001/Sec. 9007/Min$/immediate): $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS (updated on page 364 of manager’s amendment).

Tax on Innovator Drug Companies (Page 2010/Sec. 9008/ $22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.

Tax on Medical Device Manufacturers (Page 2020/Sec. 9009/$19.2 bil/Jan 2010): $2 billion annual tax on the industry imposed relative to shares of sales made that year.  Exempts items retailing for <$100.  Rises to $3 billion annually in 2017 (updated by page 364 of manager’s amendment).

Tax on Health Insurers (Page 2026/Sec. 9010/$59.6 bil/Jan 2011): $10 billion annual tax on the industry imposed relative to health insurance premiums collected that year.  Phases in gradually until 2017.  Fully-imposed on firms with $50 million in profits (updated on page 365 of manager’s amendment)

Eliminate tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Page 2034/Sec. 9012/$5.4 bil/Jan 2011)

Raise “Haircut” for Medical Itemized Deduction from 7.5% to 10% of AGI (Page 2034/Sec. 9013/$15.2 bil/Jan 2013): Waived for 65+ taxpayers in 2013-2016 only

$500,000 Annual Executive Compensation Limit for Health Insurance Executives (Page 2035/Sec. 9014/$0.6 bil/Jan 2013)

Hike in Medicare Payroll Tax (Page 2040/Sec. 9015/$86.8 bil/Jan 2013): Current law and changes:

First $200,000
($250,000 Married)
Employer/Employee
All Remaining Wages
Employer/Employee
Current Law 1.45%/1.45%
2.9% self-employed
1.45%/1.45%
2.9% self-employed
Reid-Obama Tax Hike 1.45%/1.45%
2.9% self-employed
1.45%/2.35%
3.8% self-employed

The 0.9% new rate addition is not deductible for the self-employment tax adjustment.  Updated by page 372 of manager’s amendment.

Blue Cross/Blue Shield Tax Hike (Page 2044/Sec. 9016/$0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services

STRICKEN: Tax on Cosmetic Medical Procedures (Page 2045/Sec. 9017/$5.8 bil/Jan 2010): New 5% excise tax on elective cosmetic surgery to be paid by the surgery patient.

REPLACED BY: Tax on Indoor Tanning Services (Page 373 of Manager’s amendment/$2.7 billion/July 1, 2010): New 10% excise tax on indoor tanning salons

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Global what?

13th October 2009

Can we get beyond this whole global warming issue and man’s impact on climate change? �If you are a critical thinker and look at the evidence you should probably realize that this whole myth is being pushed because it allows the (former communist) liberal left to extract more money and control from the populace.

Reposted form American Thinker:

Climate Myths and National Security

The President of the United States recently told the United Nations that “global warming” poses a threat to national security and may engender conflicts as populations are displaced by rising sea levels, droughts, floods, storms etc. etc. etc. However, it is now clear that there is no basis for the notion that the barely-detectable human influence on the climate is likely to prove a threat to climate, still less to national security.

The first principle to which any national security advisor must adhere is that of objective truth. Though he must have an understanding of politics, he is not a politician: he is a truth-bearer. Therefore, he begins by narrowing down the issue to a single, central question whose answer determines whether the suggested threat is real. He then tries to find the truthful answer to that question, and draws his conclusion from that.

Quid enim est veritas? What, then, is the truth? The single question whose answer gives us the truth about the climate question is this: By how much will any given proportionate increase in CO2 concentration warm the world? We now know the answer. The oceans, which must store 80-90% of all heat-energy accumulated in the atmosphere as a result of the radiative imbalance caused by greater greenhouse-gas concentration, have shown no net accumulation of heat for almost 70 years, implying a very small influence of CO2 on temperature (Douglass & Knox, 2009). The devastating analysis of cloud-albedo effects shortly to be published by Dr. Roy Spencer of the University of Alabama at Huntsville will show that the UN has wrongly decided that cloud changes reinforce greenhouse warming, when in fact they substantially offset it. Repeated studies of the tropical upper troposphere (e.g. Douglass et al., 2008) show that it is failing to warm at thrice the surface rate as required by all of the UN’s models, again implying very low climate sensitivity. The clincher is Professor Richard Lindzen’s meticulous recent paper demonstrating – by direct measurement – that the amount of radiation escaping from the Earth’s atmosphere to space is many times greater than the UN’s models are all told to believe. From this, the world’s most formidable atmospheric physicist has calculated that a doubling of CO2 concentration, expected over the next 150 years, would cause 0.75 C (1.5 F) of warming, at most: not the 3.4 C (6 F) that the UN takes as its central estimate.

Most analysts would stop there. Yet some might ask, “Suppose that the single satellite on which Lindzen’s results depend is defective. What then?” They might consider the economic cost of attempting to mitigate the “global warming” which, as our Monthly Reports demonstrate, is not actually happening. The figures turn out to be startlingly simple. To mitigate just 1 C (2 F) of warming, one must forego the emission of 2 trillion tons of CO2. The world emits just 30 billion tons a year. So the analyst, as a thought-experiment, would shut down the entire world economy, emitting no CO2 at all. Even then, and even on the incorrect assumption that the UN’s exaggerated projections of the effect of CO2 on temperature are correct, it would take 67 years to mitigate 1 C warming. Preventing the 3.4 C (6 F) warming that the UN’s climate panel thinks would occur in 100 years would take 225 years without any transportation, and with practically no electrical energy. The national security advisor would at that point advise his head of government that there has never been any security threat less grave, or more expensive to prevent, than the non-problem that is “global warming”. It is the fearmongers that are the real national security threat.

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So True

25th August 2009

“Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others.”

Ayn Rand

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Some Health Care Facts

4th August 2009

Some interesting facts when comparing American health care to British and Canadian systems (socialized).

Not something the media or our fine President would like you to know.

I am sure if you know me personally you are already aware of how I feel about this issue.

Manly


1. Americans have better survival rates than Europeans for common cancers.

2. Americans have lower cancer mortality rates than Canadians.

3. Americans have better access to treatment for chronic diseases than patients in other developed countries.

4. Americans have better access to preventive cancer screening than Canadians.

5. Lower-income Americans are in better health than comparable Canadians.

6. Americans spend less time waiting for care than patients in Canada and the United Kingdom.

7. People in countries with more government control of health care are highly dissatisfied and believe reform is needed.

8. Americans are more satisfied with the care they receive than Canadians.

9. Americans have better access to important new technologies such as medical imaging than do patients in Canada or Britain.

10. Americans are responsible for the vast majority of all health care innovations.

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One of these days the responsible, successful people living within our means will be out of money to give to the rest of the knuckleheads in this country.

19th February 2009

I don’t agree with everything Michelle Malkin says and I am sure the libs hate her with a passion but she is DEAD ON with her post below.

In this case, I agree with pretty much everything she is saying.  I am so sick of having to pay for the bad behavior and stupid decisions of everyone else.

I have worked my tail off to nearly have my house paid for and now I get to bail those out that were greedy and/or just plain stupid.  Ignorance is no defense for stupidity.

The fact that the government seems to want to turn all renters into homeowners is completely asinine.  People rent for a reason.  They don’t have the money or the discipline to own a home.

Manly

Questions & answers and more questions about O’s massive mortgage entitlement

By Michelle Malkin  •  February 18, 2009 11:28 AM

The White House just released the dirty details of Obama’s massive mortgage entitlement program.

Bottom line:

Refinancing for Up to 4 to 5 Million Responsible Homeowners to Make Their Mortgages More Affordable

A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners

Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

In addition, there will be forced mortgage modifications (bad idea when GOP pitched it, bad idea now) and unprecedented new meddling in private loan contracts, including a $10 billion “insurance fund,” $100 billion more for Freddie and Fannie (rewarding failures again), and a provision to “Allow Judicial Modifications of Home Mortgages During Bankruptcy for
Borrowers Who Have Run Out of Options” (pushed by Dodd and the Dems for more than a year now).

More details:

“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

Incentives to Help Borrowers Stay Current: To provide an extra incentive for borrowers to keep paying on time, the initiative will provide a monthly balance reduction payment that goes straight towards reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.

Reaching Borrowers Early: To keep lenders focused on reaching borrowers who are trying their best to stay current on their mortgages, an incentive payment of $500 will be paid to servicers, and an incentive payment of $1,500 will be paid to mortgage holders, if they modify at-risk loans before the borrower falls behind.

Home Price Decline Reserve Payments: To encourage lenders to modify more mortgages and enable more families to keep their homes, the Administration — together with the FDIC — has developed an innovative partial guarantee initiative. The insurance fund – to be created by the Treasury Department at a size of up to $10 billion – will be designed to discourage lenders from opting to foreclose on mortgages that could be viable now out of fear that home prices will fall even further later on. Holders of mortgages modified under the program would be provided with an additional insurance payment on each modified loan, linked to declines in the home price index.

Now, before we get to questions about O’s plan, let me remind you of the basic questions I had when Mitch McConnell proposed the GOP’s moronic mortgage entitlement plan two weeks ago:

Question: Why should government be guaranteeing mortgages? Isn’t that what got us into trouble in the first place?

Question: Why should government be setting mortgage rates? Aren’t those supposed to be set by the market?

Question: How can Republicans on the one hand argue that Fannie Mae, Freddie Mae, and other interventions in the housing and mortgage markets were bad and then at the same time propose a doomed policy along similar lines?

Question: Have Republicans learned nothing from the housing meltdown? “Credit-worthy” borrower = anyone with a pulse. Who will pay when these borrowers default on their loans? Taxpayers will.

Question: Who will sell these mortgages? Probably the banks. What incentive do they have to ensure the credit-worthiness of borrowers, since they will bear no risk if the borrowers default? Sounds like a formula for another mega-subsidy to the banks…to go along with all the others.

Question: Why do Republicans continue to believe, as Democrats do, that the number one goal of economic policy should be to prop up housing prices? (Recall McCain’s moronic $300 billion mortgage plan.) Why not let the market determine the correct level of housing prices? Clearly, in many parts of the country, housing prices are still too high.

The proper response by government is to let the market allow prices to decline.

The problem is too much borrowing, too much artificial inflation of home prices.

On what planet should the Republican/conservative alternative be to encourage more borrowing and to prop up prices so they don’t fall “too much?”

This is more of the same old, same old: Kicking the can down the road. Real change — fiscally repsonsible change — means sucking it up, allowing housing prices to fall, and getting the government out of the home-lending business.

What a disaster and — coming from Sen. McConnell — how sadly, utterly predictable.

More than a year ago, I called for the GOP to distinguish itself from the Big Government Democrats running for president and demagoguing this issue. Remember?

1suck.jpg
MakeStickers.com

The bipartisan meddlers in Washington are going to make the housing “crisis” drag on for a decade when, if they had adopted the suck it up plan in the first place, it would have been over by now.

You remember what the response from Senate GOP staffers was to my questions? They rationalized their support for this disastrous “solution” by explaining to me that Republicans needed to be “for something” because they didn’t want to look obstructionist.

Now, just as I warned, Obama has picked up the mortgage entitlement ball and run with it — with the muscle of ACORN thugs behind him. How is the underlying premise of his plan any different than what Senate Republicans foolishly championed two weeks ago?

At least the House Republicans seem to have a clue. Here are questions about O’s plan they’ve released this morning:

1. What will your plan do for the over 90% of homeowners who are playing and paying by the rules?

2. Does your plan compensate banks for bad mortgages they should have never made in the first place?

3. Will individuals who misrepresented their income or assets on their original mortgage application be eligible to get the taxpayer funded assistance under your plan?

4. Similarly, will you require mortgage servicers to verify income and other eligibility standards before modifying mortgages?

5. What will you do to prevent the same mortgages that receive assistance and are modified from going into default three, six, or eight months later?

6. How do you intend to move forward in the drafting of the legislation?

Chris Kinnan of Freedomworks adds a few more questions:

Will people who cashed out their equity with a refinancing be eligible?

Will borrowers who never had any equity in their homes be eligible (people who financed 100%)?

What is the upside for taxpayers if housing prices recover? Who gets the gain?

And mine:

How is this fair to renters and home owners who had the foresight to take on loans they could afford?

Will illegal aliens be eligible for the program?

Why is it government’s role to take my money to fund someone else’s property value preservation?

Answers, please.

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LOL. Obama’s “Change” translated into shell commands.

11th February 2009

For all the geeks out there like me.

Many people believed that by “change”, Obama intended to:

su – President
del /SpecialInterests
cd /newUS
./configure
make
make install

Unfortunately for them, by “change” he meant:

su – President
mv /SpecialInterests /opt/agenda2009

and they never expected to see

 cp lobbyists /home/whitehouse/cabinet/

  or

cp taxcheats /home/whitehouse/cabinet/

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A primer on what “Keynesian” really means.

10th February 2009

Most people who are well educated and interested in economics know who Keynes and Friedman are.  I keep hearing people mention Keynes in the news lately.  Few really understand his theories or his thinking.

What is more important, in my opinion is understanding the difference between Keynes and Friedman (who’s work came a long much later and is more widely accepted).

It interests me that the differences between the two are also basic differences between Liberals and Libertarians/Moderate Conservatives.

I.E. Government is everything to the Liberals, it will provide for our every need and save us from every problem we may encounter.  In contrast, Libertarians view government as a necessary evil and believe in personal freedom and less government intervention.  Low taxes, small but strong government, limited regulation.

Keynes

Friedman

His framework is based on spending and demand, the determinants of the components of spending, the liquidity-preference theory of short-run interest rates, and the requirement that government make strategic but powerful interventions in the economy to keep it on an even keel and avoid extremes of depression and manic excess.

His theory was one of employment, interest and money.

To Keynes’s framework, Friedman added a theory of prices and inflation, based on the idea of the natural rate of unemployment and the limits of government policy in stabilising the economy around its long-run growth trend — limits beyond which intervention would trigger uncontrollable and destructive inflation.

The experience of the Great Depression led Keynes and his more orthodox successors to greatly underestimatethe role and influence of monetary policy.

Friedman, in a 30-year campaign starting with his and Anna J Schwartz’s “A Monetary History of the United States”, restored the balance. He gave prominence to monetary policy.

Friedman and Keynes both agreed that successful macroeconomic management was necessary — that the private economy on its own might well be subject to unbearable instability — and that strategic, powerful, but limited economic intervention by the government was necessary to maintain stability.

For Keynes, the key was to keep the sum of government spending and private investment stable.

For Friedman the key was to keep the money supply— the amount of purchasing power in readily spendable form in the hands of businesses and households — stable.

Keynes saw himself as the enemy of laissez-faire and an advocate of public management. Clever government officials of goodwill, he thought, could design economic institutions that would be superior to the market — or could at least tweak the market with taxes, subsidies, and regulations to produce superior outcomes. It was simply not the case, Keynes argued, that the private incentives of those active in the marketplace were aligned with the public good. Technocracy was Keynes’s faith: skilled experts designing and fine-tuning institutions out of the goodness of their hearts to make possible general prosperity — as Keynes, indeed, did at BrettonWoods where the World Bank and IMF were created.

In his view, it usually was the case that private market interests were aligned with the public good: episodes of important and significant market failure were the exception, rather than the rule, and laissez-fairewas a good first approximation. Moreover, Friedman believed that even when private interests were not aligned with public interests, governments could not be relied on to fix the problem. Government failures, Friedman argued, were greater and more terrible than market failures. Governments were corrupt, inept. The kinds of people who staffed governments were the kinds of people who liked ordering others around.

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Not everyone agrees that we need a huge spending bill to get ourselves out of this mess…

10th February 2009

Cato Stimulus

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WTB – No Stimulus (or Stimulus, sans useless pork)

9th February 2009

Will this guy ever get it?  Handing out money taken from the pockets of taxpayers to every Tom, Dick and Harry does NOT stimulate the economy.

I have to believe that Obama actually understands this.  He simply cannot be that stupid.  If he does understand this then it’s almost as bad.  He is now just paying back the special interests who put him in the White House.

If I were in charge of this mess, I would offer a little relief to homeowners, extend unemployment benefits and health care and do NOTHING ELSE.  The wheat needs to be separated from the chaff in times like these.  Sparing everyone the pain they NEED TO FEEL does little to prevent this from happening again.

Manly

Taken from the Wall Street Journal:

President Obama has started to play the “catastrophe” card to sell his economic stimulus plan, using yesterday’s terrible January jobs report to predict doom unless Congress acts. No doubt he’ll get his way, but the tragedy of this first great effort of the Obama Presidency is what a lost opportunity it is.

[Review & Outlook] AP

Everyone agrees that some kind of fiscal stimulus might help the economy, and that running budget deficits is appropriate in a recession. The stage was thus set for the popular President to forge a bipartisan consensus that combined ideas from both parties. A major cut in the corporate tax favored by Republicans could have been added to Democratic public works spending for a quick political triumph that might have done at least some economic good.

Instead, Mr. Obama chose to let House Democrats write the bill, and they did what comes naturally: They cleaned out their intellectual cupboards and wrote a bill that is 90% social policy, and 10% economic policy. (See here for a case study.) It is designed to support incomes with transfer payments, rather than grow incomes through job creation.

This is the reason the bill has run into political trouble, despite a new President with 65% job approval. The 11 Democrats who opposed it in the House didn’t do so because they want to hand Mr. Obama a defeat. The same is true of the Senate moderates of both parties working to trim their $900 billion version. They’ve acted because they can’t justify a vote for so much spending for so little economic effect. You know a piece of legislation is in trouble when even its authors begin to deny paternity, as economist Martin Feldstein has recently done.

Speaking to a House Democratic retreat on Thursday night, Mr. Obama took on those critics. “So then you get the argument, well, this is not a stimulus bill, this is a spending bill. What do you think a stimulus is? (Laughter and applause.) That’s the whole point. No, seriously. (Laughter.) That’s the point. (Applause.)”

So there it is: Mr. Obama is now endorsing a sort of reductionist Keynesianism that argues that any government spending is an economic stimulus. This is so manifestly false that we doubt Mr. Obama really believes it. He has to know that it matters what the government spends the money on, as well as how it is financed. A dollar doled out in jobless benefits may well be spent by the worker who receives it. That $1 of spending will count as economic activity and add to GDP.

But that same dollar can’t be conjured out of thin air. The government has to take that dollar away from someone else — either in higher taxes, or by issuing new debt in the form of a bond. The person who is taxed or buys the bond will have $1 less to spend. If the beneficiary of that $1 spends it on something less productive than the taxed American or the lender would have, then the net impact on growth will be negative.

Some Democrats claim these transfer payments are stimulating because they go mainly to poor people, who immediately spend the money. Tax cuts for business or for incomes across the board won’t work, they add, because those tax cuts go disproportionately to “the rich,” who will save the money. But a saved $1 doesn’t vanish from the economy, unless it is stuffed into a mattress. It enters the financial system, where it is lent to others; or it is invested in the stock market as capital for businesses; or it is invested in entirely new businesses, which are the real drivers of job creation and prosperity.

At the current moment, amid a capital strike, the latter is the kind of fiscal stimulus we really need. Yet there is virtually none of it in the bills now moving through Congress. Senate moderates may succeed in cutting $100 billion or so in spending from the bill, which is political window dressing. Even they aren’t talking about adding the kind of tax cuts that would really help the economy now.

We should add how different this is from the 1980s or even the 1960s. Democrats added business tax cuts to the Reagan package of 1981, while Jack Kennedy’s chief economist (Walter Heller) promoted marginal rate tax cuts on stimulus grounds in the 1960s. Yet Mr. Obama, on Thursday, dismissed any such tax cuts as “the same tired arguments and worn ideas that helped to create this crisis.” That’s rhetoric for a campaign, not for a President hoping to rally bipartisan support.

The biggest gamble with this stimulus is what it means if the economy doesn’t recover. Monetary policy is already as stimulative as it can safely get, and the Obama Administration is set to announce its big financial fix on Monday. Stocks rallied Friday on expectations of the latter, despite the job loss report, with big bank stocks leading the way. If done right, this will help reduce risk aversion and gradually restore financial confidence.

We hope it does, because the size and waste of the stimulus means we won’t have much ammunition left. The spending will take the U.S. budget deficit up to some 12% of GDP, about double the peak of the 1980s and into uncharted territory. The tragedy of the Obama stimulus is that we are getting so little for all that money.

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I bet you forgot what form of Government we have here in the U.S.A.

20th January 2009

I keep hearing people say that we have a Democracy here in the U.S. or that we need to “save” our Democracy.

When I hear that I think WOW.  Are most people that uninformed?  Have we corrupted the term “Democracy”?  Has the meaning somehow changed?

We do not live in a Democracy, we live in a Constitutional Republic.

Watch the video below for a more eloquent explanation of this fact.

Manly

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Give me a break, I actually laughed at this one.

13th January 2009

Barney Frank is a symbol of all that is wrong with the far far left.  What an idiot.

I sure hope we all realize that judicious use of private planes by CEO’s of large companies makes a TON of sense.  From the safety/security standpoint for certain.  It’s also not in the best interest of a large corporation to have their CEO wasting time in airports when his time is worth thousands of dollars per hour.

Add to that the fact that it’s not the government’s job to run the day to day activities of any company.

Once again, Barney is playing to wealth envy.

Article below:

— cut here —

By Silla Brush

If House Financial Services Committee Chairman Barney Frank (D-Mass) has his way, companies with corporate jets will not receive any future bailout money.

President-elect Obama has asked President Bush to seek the remaining $350 billion before he takes office. Meanwhile, Frank introduced legislation with a wide range of restrictions on how the rest of the funds from the Troubled Asset Relief Program (TARP) may be spent.

One provision in Frank’s legislation specifically prohibits companies that own, lease, or hold an ownership stake in private planes from receiving money, unless they can show the Treasury secretary that they are in the process of getting rid of their access to the planes.

The restriction on corporate jets would apply as long as the company receives federal money under the bailout package.

Lawmakers scolded the heads of the Detroit automakers for traveling to Washington aboard their corporate jets as they sought billions of dollars in taxpayer assistance.

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You took the words right out of my mouth…

19th November 2008

This letter was written by a man in East Texas as an open letter to Senator Obama. He really does exist and says anyone can email his letter around, just don’t change it. 

“Mr. Obama, Given the uproar about the simple question asked you by Joe the plumber, and the persecution that has been heaped on him because he dared to question you, I find myself motivated to say a few things to you myself. While Joe aspires to start a business someday, I already have started not one, but 4 businesses. But first, let me introduce myself. You can call me “Cory the well driller”. I am a 54 year old high school graduate. I didn’t go to college like you, I was too ready to go “conquer the world” when I finished high school. 25 years ago at age 29, I started my own water well drilling business at a time when the economy here in East Texas was in a tailspin from the crash of the early 80’s oil boom. I didn’t get any help from the government, nor did I look for any. I borrowed what I could from my sister, my uncle, and even the pawn shop and managed to scrape together a homemade drill rig and a few tools to do my first job. My businesses did not start as a result of privilege. They are the result of my personal drive, personal ambition, self discipline, self reliance, and a determination to treat my customers fairly. 

From the very start my business provided one other (than myself) East Texan a full time job. I couldn’t afford a backhoe the first few years (something every well drilling business had), so I and my helper had to dig the mud pits that are necessary for each and every job with hand shovels. I had to use my 10 year old, 1/2 ton pickup truck for my water tank truck (normally a job for at least a 2 ton truck). A year and a half after I started the business, I scraped together a 20% down payment to get a modest bank loan and bought a (28 year) old, worn out, slightly bigger drilling rig to allow me to drill the deeper water wells in my area. I spent the next few years drilling wells with the rig while simultaneously rebuilding it between jobs. 

Through these years I never knew from one month to the next if I would have any work or be able to pay the bills. I got behind on my income taxes one year, and spent the next two years paying that back (with penalty and interest) while keeping up with ongoing taxes. I got behind on my water well supply bill 2 different years (way behind the second time… $80,000.00), and spent over a year paying it back (each time) while continuing to pay for ongoing supplies C.O.D.. Of course, the personal stress endured through these experiences and years is hard to measure. I do have a stent in my heart now to memorialize it all. I spent the next 10 years developing the reputation for being the most competent and most honest water well driller in East Texas. 2 years along the way, I hired another full time employee for the drilling business so that we could provide full time water well pump service as well as the well drilling. Also, 3 years along the path, I bought a water well screen service machine from a friend, starting business # 2. 5 years later I made a business loan for $100,000.00 to build a new, higher production, computer controlled screen service machine. I had designed the machine myself, and it didn’t work out for 3 years so I had to make the loan payments without the benefit of any added income from the new machine. 

No government program was there to help me with the payments, or to help me sleep at night as I lay awake wondering how I would solve my machine problems or pay my bills. Finally, after 3 years, I got the screen machine working properly, and that provided another full time job for an East Texan in the screen service business. 2 years after that, I made another business loan, this time for $250,000.00, to buy another used drilling rig and all the support equipment needed to run another, larger, drill rig. This provided another 2 full time jobs for East Texans. Again, I spent a couple of years not knowing if I had made a smart move, or a move that would bankrupt me. For the third time in 13 years, I had placed everything I owned on the line, risking everything, in order to build a business. A couple of years into this, I came up with a bright idea for a new kind of mud pump, a fundamentally necessary pump used on water well drill rigs. I spent my entire life savings to date (just $30,000.00), building a prototype of the pump and took it to the national water well convention to show it off. Customers immediately started coming out of the woodworks to buy the pumps, but there was a problem. I had depleted my assets making the prototype, and nobody would make me a business loan to start production of the new pumps. With several deposits for pump orders in hand, and nowhere to go, I finally started applying for as many credit card as I could find and took cash withdrawals on these cards to the tune of over $150,000.00 (including modest loans from my dear sister and brother), to get this 3rd business going. 

Yes, once again, I had everything hanging over the line in an effort to start another business. I had never manufactured anything, and I had to design and bring into production a complex hydraulic machine from an untested prototype to a reliable production model (in six months). How many nights I lay awake wondering if I had just made the paramount mistake of my life I cannot tell you, but there were plenty. I managed to get the pumps into production, which immediately created another 2 full time jobs in East Texas. Some of the models in the first year suffered from quality issues due to the poor workmanship of one of my key suppliers, so I and an employee (another East Texan employed) had to drive across the country to repair customers’ pumps, practically from coast to coast. I stood behind the product, and made payments to all the credit cards that had financed me (and my brother and sister). I spent the next 5 years improving and refining the product, building a reputation for the pump and the company, working to get the pump into drill rig manufacturers’ product lines, and paying back credit cards. During all this time I continued to manage a growing water well business that was now operating 3 drill rig crews, and 2 well service crews. Also, the screen service business continued to grow. 

No government programs were there to help me, Mr. Obama, but that’s ok, I didn’t expect any, nor did I want any. I was too busy fighting to make success happen to sit around waiting for the government to help me. Now, we have been manufacturing the mud pumps for 7 years, my combined businesses employ 32 full time employees, and distribute $5,000,000.00 annually through the local economy. Now, just 4 months ago I borrowed $1,254,000.00, purchasing computer controlled machining equipment to start my 4th business, a production machine shop. The machine shop will serve the mud pump company so that we can better manufacture our pumps that are being shipped worldwide. Of course, the machine shop will also do work for outside companies as well. This has already produced 2 more full time jobs, and 2 more should develop out of it in the next few months. This should work out, but if it doesn’t it will be because you, and the other professional politicians like yourself, will have destroyed our countrys’ (and the world) economy with your meddling with mortgage loan programs through your liberal manipulation and intimidation of loaning institutions to make sure that unqualified borrowers could get mortgages. 

You see, at the very time when I couldn’t get a business loan to get my mud pumps into production, you were working with Acorn and the Community Reinvestment Act programs to make sure that unqualified borrowers could buy homes with no down payment, and even no credit or worse yet, bad credit. Even the infamous, liberal, Ninja loans (No Income, No Job or Assets). While these unqualified borrowers were enjoying unrealistically low interest rates, I was paying 22% to 24% interest on the credit cards that I had used to provide me the funds for the mud pump business that has created jobs for more East Texans. It’s funny, because after 25 years of turning almost every dime of extra money back into my businesses to grow them, it has been only in the last two years that I have finally made enough money to be able to put a little away for retirement, and now the value of that has dropped 40% because of the policies you and your ilk have perpetrated on our country. 

You see, Mr. Obama, I’m the guy you intend to raise taxes on. I’m the guy who has spent 25 years toiling and sweating, fretting and fighting, stressing and risking, to build a business and get ahead. I’m the guy who has been on the very edge of bankruptcy more than a dozen times over the last 25 years, and all the while creating more and more jobs for East Texans who didn’t want to take a risk, and would not demand from themselves what I have demanded from myself. I’m the guy you characterize as “the Americans who can afford it the most” that you believe should be taxed more to provide income redistribution “to spread the wealth” to those who have never toiled, sweated, fretted, fought, stressed, or risked anything. You want to characterize me as someone who has enjoyed a life of privilege and who needs to pay a higher percentage of my income than those who have bought into your entitlement culture. 

I resent you, Mr. Obama, as I resent all who want to use class warfare as a tool to advance their political career. What’s worse, each year more Americans buy into your liberal entitlement culture, and turn to the government for their hope of a better life instead of themselves. Liberals are succeeding through more than 40 years of collaborative effort between the predominant liberal media, and liberal indoctrination programs in the public school systems across our land. What is so terribly sad about this is this. America was made great by people who embraced the one-time American culture of self reliance, self motivation, self determination, self discipline, personal betterment, hard work, risk taking. A culture built around the concept that success was in reach of every able bodied American who would strive for it. Each year that less Americans embrace that culture, we all descend together. We descend down the socialist path that has brought country after country ultimately to bitter and unremarkable states. 

If you and your liberal comrades in the media and school systems would spend half as much effort cultivating a culture of can-do across America as you do cultivating your entitlement culture, we could see Americans at large embracing the conviction that they can elevate themselves through personal betterment, personal achievement, and self reliance. You see, when people embrace such ideals, they act on them. When people act on such ideals, they succeed. All of America could find herself elevating instead of deteriorating. But that would eliminate the need for liberal politicians, wouldn’t it, Mr. Obama? The country would not need you if the country was convinced that problem solving was best left with individuals instead of the government. You and all your liberal comrades have got a vested interested in creating a dependent class in our country. It is the very business of liberals to create an ever expanding dependence on government. What’s remarkable is that you, who have never produced a job in your life, are going to tax me to take more of my money and give it to people who wouldn’t need my money if they would get off their entitlement mentality asses and apply themselves at work, demand more from themselves, and quit looking to liberal politicians to raise their station in life. 

You see, I know because I’ve had them work for me before. Hundreds of them over these 25 years. People who simply will not show up to work on time. People who just will not work 5 days in a week, much less, 6 days. People always looking for a way to put less effort out. People who actually tell me that they would do more if I just would first pay them more. People who take off work to sit in government offices to apply to get free government handouts (gee, I wonder how things would have turned out for them if they had spent that time earning money and pleasing their employer?). You see, all of this comes from your entitlement mentality culture. 

Oh, I know you will say I am uncompassionate. Sorry, Mr. Obama, wrong again. You see, I’ve seen what the average percentage of your income has been given to charities over the years of 2000 to 2004 (ignoring the years you started running for office – can you pronounce “politically motivated”), you averaged less than 1% annually. And your running mate, Joe Biden, averaged less than ¼% of his annual income in charitable contributions over the last 10 years. Like so many liberals, the two of you want to give to the needy, just as long as it is someone else’s money you are giving to them. I won’t say what I have given to charities over the last 25 years, but the percentage is several times more than you and Joe Biden. combined (don’t you just hate google?). Tell me again how you feel my pain. 

In short, Mr. Obama, your political philosophies represent everything that is wrong with our country. You represent the culture of government dependence instead of self reliance; Entitlement mentality instead of personal achievement; Penalization of the successful to reward the unmotivated; Political correctness instead of open mindedness and open debate. If you are successful, you may preside over the final transformation of America from being the greatest and most self-reliant culture on earth, to just another country of whiners and wimps, who sit around looking to the government to solve their problems. Like all of western Europe. All countries on the decline. All countries that, because of liberal socialistic mentalities, have a little less to offer mankind every year. 

God help us… 

Cory Miller just a ordinary, extraordinary American, the way a lot of Americans used to be. 

P.S. Yes, Mr. Obama, I am a real American… www.cmillerdrilling.com “

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Veterans.

11th November 2008

During these times, Veteran’s day has a special meaning for many of us.

Being at war brings out the patriotism in many people.  The other side of the coin are those that oppose the war and show their patriotism in different ways.  

However, on Veteran’s day it is time to put aside differences and remember those that are currently serving in the armed forces, those that died for your freedom and those that served honorably in the past.

I had the honor of serviing the the military and it was one of the best experiences of my entire life.  Even though there were many times I would have rather been somewhere else, I still look back on my 8 years with fondness.  I will never forget what it was like to share fear, pain, commitment, laughter and a great love for my country with the people that I served with. 

Those who make the commitment to be there when their country needs them deserve your thanks, make sure you take the time to offer it to them.

Manly

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Reprint of an open letter to the president-elect.

5th November 2008

Amazing.  I agree with everything that Neal says below.

Number 17 below hits closest to home for me.  I am deeply saddened by the apparent lack of individualism that we have seen in this election process.  No more are Americans asked to provide for themselves.  It seems that they want a Nanny State government to provide for their every need.

Original post HERE.

A few thoughts for our next President and Congress, whoever may win.

  1. You should run our country like we do our own households, live within your means.
  2. Spend what you have, not what you’d like to have. When in doubt, just say no.
  3. Just because the benefits of a policy are good, does not mean they outweigh the costs.
  4. Just because the credit crisis is real, does not mean we need more regulation. Different, yes, more, no. As with most things, less is generally more.
  5. You do not create jobs. We create jobs. But you do have the power to destroy jobs. Don’t forget that.
  6. When it comes to taxes, the more you take, the less we make. In all senses of the phrase.
  7. Energy is life. Our country has been built for 100 years on plentiful energy resources. We need cheap energy. Clean energy. And safe energy. All three, not just one or two.
  8. Climate change and our environment are a problem. This is an area you owe it to your constituents to deal with.
  9. Free trade is a good thing. Whether you understand it or not. If you don’t believe me, two words: Smoot Hawley.
  10. Change is sometimes good. But considered change. Not change just for the sake of change.
  11. Sometimes the best policies are the ones we did not do.
  12. Making promises to win an election is all well and good, but in policy, compromise always wins. But please make sure that compromise does not mean pork. You work for all of us.
  13. My generation faces a looming crisis in social security and medicare entitlement costs. Don’t make it worse.
  14. Those who seek power are generally the last people who ought to be granted that power. Make sure, when your time is done, that you do not remind us of this axiom.
  15. We really do live in the greatest nation the world has ever seen. We set all time world records every year. So when you are trying to “fix” our economy and foreign policies, don’t throw the baby out with the bath water. Ask why things have worked so well before you complain about what’s not working. And certainly ask that before you tell me that another country is doing it better than we are.
  16. What makes us different than all other countries? A profound respect for property rights. The rule of law. The Constitution. The Bill of Rights. The belief that each of us has the power to change ourselves, and our world. Faith in God. Each of these, and all of these.
  17. And finally, Who is John Galt?

-Neal Dikeman

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