Friday, March 20, 2009

The Great Wealth Confiscation

The first thing I am going to do is apologize ahead of time. I am going to be a little sporadic in posting. It seems there has been a huge change of plans and I will be changing jobs in the very near future. So, I have some other things that I have to do to make sure my family is taken care of. I am sure most of you will understand.

Now, on with the post. I will start with a quote.

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the
other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."

This was said by the late Dr. Adrian Rogers.

This is the exact reason that the current tax system has to go. The Democrats have used the tax codes to entice citizens to vote for them. Now, we are very close to the point that over half of the people in this country will not be paying taxes or even get more money back from the government. Why would people vote against something if they are getting something out of it? This describes socialism. It's when we take things from people based on their ability and give it to people based on their needs. This is the idea that the king liberal explained in the campaign and it is the same thing that Karl Marx said way back in his time. It isn't anything new. It ISN'T change.

Now, let us look at some of the other things that have been going on while our lawmakers and administration are distracting the rest of the company with these AIG bonuses.

Yesterday they moved to put another $5Billion into the auto industry. That was on top of the announcement to print an additional $1Trillion to buy up treasury bonds and mortgage securities sold by the government.

Barry Ritholtz, a financial blogger, tallied up $8.5Trillion in bailout costs between December 2008 (not including $5.2Trillion in the Fannie Mae and Freddie Mac portfolios that we are now responsible for).

$50Billion (at least) proposed by Treasury Secretary Tim Geithner to bail out home owners and lenders who need the money because they made bad decisions to begin with.

He also wants to spend an additional $2.5Trillion on the next bank bail out.

The Senate just passed a $10Billion bill that is filled with pork. And, it is immune from amendment. Meaning, no one can change it.

Oh, yes, and don't forget the $410Billion spending bill that was passed two weeks ago.

The House passed a $6Billion volunteerism bill (the "GIVE Act").

Coming soon, the "cap-and-trade" global warming plan. Cost: $2Trillion (nearly three times the White House's original estimate).

And, at last, the health care scheme. Estimated cost: $1.5Trillion over the next decade.

In case you weren't adding all of this up, it comes to over $21Trillion. That's, $21,000,000,000,000. Just to put all of this into perspective, they have been ranting about how much money we have spent in Iraq. The total we have spent to fight on the front in Iraq is $8Billion. ($800,000,000,000). Even more prospective, that is the same amount that the "stimulus" bill spent (and I didn't even mention that one).

Now, how bad does the $165,000,000 that AIG paid to private citizens look? Especially when the Administration and Congress knew that this was going to happen to begin with. It was written into the "stimulus" plan. Chris Dodd has admitted to it. Of course, that was after he first said that he knew nothing about it. Then, it came out that he actually wrote the amendment. And at the very least, Tim Geithner was one of the ones pushing for it. So, they all knew. Now, they are running around like they are outraged and even have the audacity to say they are going to tax the bonus money by 90%!! The great wealth confiscation is beginning. Even Fannie Mae and Freddie Mac employees are saying they will walk if they don't get the bonuses that they are under contract to receive over the next year.

This administration and Congress are going to cause us to go even further into the recession. The only way they can pay for all of this is to raise taxes (this will stifle investing and peoples success) and print more money (this will cause inflation because the dollar will be devalued).

This is where this country is headed. This is where the king liberal and all of the other liberal leaders are leading us.



Krys72599 said...

I'll still be checking for your posts, even if I have to go longer in between! Good luck with the job search and all that goes along with it - we're all pulling for you and yours out here in Internetland!

Krys72599 said...

Read this for a happy moment or two...