Sunday, July 31, 2011

Even intelligent, well connected people are confused - shameful


There are so many amazing aspects to whats going on in our country right now.  But the primary problem?  Americans aren't taking time to educate themselves as to what got us into this mess.  We need to understand how we got here before we can solve the problems and get us back on the right track.

Even the most intelligent,  well connected in our country don't understand how we got here.  The latest example?  Tom Brokaw on Meet the Press this morning.  Tom was on a roll in talking about what got us here,  until he squarely placed the blame on Democrats for "pushing home ownership on people who didn't deserve and could not afford the houses they bought"  Wrong Tom.  Its absolutely shameful that even Tom Brokaw is confused.

Republicans are squarely to blame for wrecking our housing market and thereby destroying our economy.   And that's why I will not support my Republican party,  until every one of the Republicans who served during the Bush Administration are run out of office.

The housing crises largely caused our economic collapse.  And the economic collapse accounted for $6 Trillion of the $12 Trillion swing in our federal budgets from 2001 - 2011.  So it was Republicans who blew a massive hole in our budgets.

We can talk about a myriad of issues that caused our housing collapse:
  1. Deregulation of the CDS market in 1999,  largely pressed forward by a Republican Senator.  CDS allowed $25 Trillion in bets to be placed on $2 Trillion in subprime debt,  blowing up the entire mortgage debt system, and causing massive losses for banks, pension plans, and insurance companies, world-wide.  Even local government entities like school systems, cities, towns took massive losses as a result of this blow up in the value of mortgage securities.
  2. Approval of 40 to 1 leverage for investment banks,  approved by a Republican Controlled SEC during a time when Republicans controlled the White House and both the Senate and the House.  This massive leverage allowed I-Banks to be stuffed to the gills with bad mortgage loans.  That took down Bear Stearns, and it took down Lehman,  leading to financial chaos around the world.
  3. Allowing a shadow banking system to grow out of control,  to the point that well over 50% of mortgage loans were made by entities beyond the arm of federal regulation and oversight.  Again, happening at a time when Republicans were in full control of Washington DC.
  4. Believing that a hands off,  free market approach to regulation was best for oversight of the mortgage market.  This hands off attitude is called "Laissez-faire".  And the laissez-faire attitude was largely practiced by the one man who had the most power to have regulated and cleaned-up the mess in our mortgage markets - Republican Federal Reserve Chairman Alan Greenspan.   And by way,  another individual who practiced and preached laissez-faire - my sorry assed Republican Senator,  Richard Burr.   These people deserve most of the blame for the blow up in housing that wrecked our economy.
While there are other contributing factors, these were the primary.  Most Republicans try to divert your attention over to FNMA and Freddie Mac.  They were bit players in this whole mess,  coming in very late in the game,  after the major damage was already well underway.  Most Republicans wave their arms, make up stories,  just boldly and blatantly lie,  in an effort to divert your attention elsewhere.  But this housing bubble that crashed and burned our economy to the ground was a Republican mess.

As a final,  and the most damning evidence of this housing issue belonging squarely in the laps of Republicans,  I remind you of the words of George W. Bush as he stood at the podium in the Republican Convention in New York City in 2004, giving his acceptance speech for the Republican nomination on the Presidential ticket.   George had been in office for four years when he shared this statement with the American people:

"Thanks to our policies, home ownership in America is at an all-time high. Tonight we set a new goal: seven million more affordable homes in the next 10 years so more American families will be able to open the door and say welcome to my home." 

Tom Brokaw, I hardly believe by "our policies" George W Bush was giving credit to the Democrats for pushing record numbers of people into housing under the Bush "ownership society" policies.  Tom, you are just flat wrong. This housing issue, which caused our country so much pain, and accounted for over $6 Trillion of the $12 Trillion swing in budget deficits off the 2001 ten year projections, this was a problem caused by Republicans. They own it. They wrecked our economy. Republicans are why we are where we are today. Republicans are squarely to blame.

No rational,  thinking American should support any Republican who served during the Bush Administration.  These are the people most accountable for our economic mess.  And North Carolina Republican Senator Richard Burr is among this sorry assed group of Republican politicians who need to be punished.

North Carolina deserves better than Republican Senator Richard Burr.

This much is clear


Obama and the Democrats brought rubber bands and spit balls to this budget fight.   Republicans brought guns, knives and brass knuckles.  The super wealthy won this battle,  on the backs of naive tea party supporting Trailer Park America.  The poor and ignorant fought the battle to keep the ruling class rolling in wealth. The big losers are the vast swath of middle class households earning $200 K - $1 M a year,  caught in the pit of the Alternative Minimum Tax,  and paying total taxes at rates far higher than the super wealthy.

In the long run,  America is the real loser.  While the fight is over for now,  the unrest that will result ensures an even larger battle in the near future.  Put away your rubber bands and spit balls.   Buy guns and ammo.  You'll need them soon to protect your home and family from the social unrest that will result from this latest battle.  Our problems are not solved.   The war goes on.   It will not be over until there is fairness in our tax system.  It will not be over until the super wealthy pay the highest rates,  the middle class the next highest,  and the poor at least pay something.  And the agreement resulting from the latest battle does nothing to get us to fairness in our income tax structure.

Republicans kicked middle class America squarely in the teeth,  yet again.

Saturday, July 30, 2011

Republicans fight hard for Peyton Manning

Who cares about the circus going on in Washington DC?  America isn't paying any attention to that mess. America's attention is focused on Peyton Manning's new $90 Million contract.

I'll bet you though that Peyton has his eyes glued to what's going on in Washington.  He's cheering on the Republican Party.

Peyton wants to make sure he remains among the class of the under taxed,  the super wealthy who pay only 18% income taxes on average ... while the rest of us losers,  the vast middle class earning a measly $200 K to $1 M fall in the AMT pit and wind up paying the higher 20 - 24% rates.   Thank god Republicans are working their asses off in Washington DC to protect our nation's $90 Million football players.   Without the low tax rates gifted to the super wealthy,  there would be no jobs in America, according to Republicans.

And in case you haven't heard,  elephants fly too.  John Boehner says so.

Articles worth a read, July 2011

Friday, July 29, 2011

Closing loopholes, code 4 - Let's screw the middle class, again

An older,  experienced Dentist makes about $300 K a year.  He's been in practice for awhile,  so he has some side investments in property and stocks that make him another $50 K.  With the help of a good financial planner,  our Dentist has set up a nice retirement vehicle that allows him to tuck away $75 K annually in retirement contributions.  So our Dentist has a taxable income of about $275 K.  ($300 + 50 - 75).

Our Dentist lives in a $800 K house with a $600 K mortgage,  so he's deducting about $25 K a year in interest expense.  His property taxes run another $10 K.  He also has a decent medical plan for his family.  His deductible contributions to that plan run about $15 K.  He lives in a state that taxes moderately at about 7% of his income so his state income taxes run around $20 K.  All in,  our dentist has about $70 K in these deductions he takes against his income.  These deductions reduce his taxable income down to about $205 K.

If this Dentist is like the average American with about $200 K to $1 M in taxable income,  he pays somewhere between 20 and 24% federal income taxes on his taxable income.  So our Dentist is paying between $40 and $50 K in federal income taxes.  Yes,  I know there are other considerations,  personal exemptions,  exclusions, AMT, et al.  But we are keeping this example simple,  yet it's still fairly accurate.

Where our Dentist stands now in terms of federal income taxes:

Income $275 K ($350 K less $75 K deductible retirement plan contributions)
Deductions $70 K
Taxable Income $205 K
Tax Rate 22%
Federal Income Taxes $45 K

What do Republicans want to do with our Dentist?  They are going to take a drill,  pen his sorry ass to the wall,  and drill the wallet out of his pocket,  via his nose.   That's what Republicans mean by "closing the loopholes".

Watch,  learn.  Republicans are going to take away his $70 K in deductions.  Yes,  they will lower the tax rate.  And that's how they'll sell this "closing the loopholes" proposal.  They'll tell all of us that they are not raising taxes.  This will be tax simplification.  They'll lower our dentist's tax rate to 18%,  beat their chests and claim that they are lowering taxes!

But this poor Dentist will wind up paying more taxes.

Taxable Income $275 K
Tax Rate 18%
Federal Income Tax $50 K

Our Dentist pays $5 K more a year in taxes.  But Republicans will claim he's paying lower taxes,  because they've lowered his tax rate,  and simplified the income tax code!   Bottom line - when you hear a Republican talk about "closing loopholes" ... that's just code for,  we're increasing your taxes.

It's worse though.   Those increases?  They will almost entirely fall on the shoulders of the middle class.   Think about it.   It does not matter whether you make $200 K,  or $384 Million (average annual income for the top 400 highest paid Americans),  with the exception of state income taxes,  the other closed loopholes will be about the same, no matter what your income level.  When our Dentist gets his "loopholes" taken away,  his taxable income increases by 25%.   Take those same "loopholes" away from a super wealthy person,  and you might push their taxable income up by 8 to 10%, tops.   But for every 1% tax rate decrease for the top 400 wealthiest, many millions get put in their pockets.  So this "closing the loopholes" Republican strategy is also code for - let's cut taxes on the wealthy,  again.

If you're middle class,  you can not win with the Republican party.  They are out to screw you.  And if you haven't figured that out by now,  you've got more important problems in your life.  You're just plain stupid.  And you're going to get what you deserve anyway.

Republicans don't give a crap about middle class America.  They demonstrate that in how they've structured the current tax code where the super wealthy pay lower rates than the middle class.  And they are going to demonstrate it further when they screw us again by "closing loopholes",  lowering rates ... but raising our taxes.   And the taxes paid by middle class Americans will increase far more in percentage terms than the taxes paid by the super wealthy.

Wake the hell up.

North Carolina deserves better than Republican Senator Richard Burr.

32% of the wealthiest 400 pay less than 15% - HOW IS THIS FAIR?


This article sums up why I am so very pissed off at my Republican Party.  And this paragraph within the article makes me livid:

"The many adjustments to income permitted by the tax code, plus alternative tax rates on the largest sources of income of the wealthy, explain why the average federal income tax rate on the 400 richest people in America was 18.11 percent in 2008, according to the Internal Revenue Service, down from 26.38 percent when these data were first calculated in 1992. Among the top 400, 7.5 percent had an average tax rate of less than 10 percent, 25 percent paid between 10 and 15 percent, and 28 percent paid between 15 and 20 percent."

As a CPA, I'm very knowledgeable about our tax code.  And I work my tail off to research and take advantage of every tax break possible,  yet my federal tax bill was 22% of my income last year.  60% of the 400 richest Americans paid a lower tax rate than me!  And 32% of these super wealthy paid less than a 15% rate!

I ask myself and my party ... how in the hell is it fair when the richest Americans pay so little?   HOW?

My Republican party doesn't give a crap about middle class America. We pay a higher tax rate than the wealthiest of the wealthy.  And to balance our nation's budget to pay for the Republican Wars and the tax cuts on the wealthy,  Republicans demand drastic cuts to the very programs aimed at helping middle class America,  so the wealthiest of the wealthy can continue paying tax rates lower than us.  HOW in the hell is this fair?   Do you not understand the need to raise income taxes on the wealthy?  If not,  you must be blind.

North Carolina deserves better than Republican Senator Richard Burr.

Am I living a bad dream?


Waking up this morning,  I flipped on the business news.  DAMN.  It wasn't a dream.  I'm actually living a real nightmare.

Boehner failed.  A stream of Republicans,  mainly tea partiers,  came to camera blaming Obama for everything wrong in the world.  To the tea, not a single one was willing to raise ANY taxes,  although we know that over 32% of the 400 wealthiest Americans paid less than 15% federal taxes in 2008,  which is less than most middle class Americans pay.  Figures.  Tea Party America was spawned by Trailer Park America.  And now the wealthiest Americans are laughing all the way to the bank.  Trailer Park America works its tail off to the benefit of the Wealthy.  But now, the world markets are plunging,  taking our IRAs, Roths, 401Ks, 529s, Coverdales,  and savings right down the drain.  While I am heavily short,  I still have enough long positions on to know today would really hurt. 

I buried my head in a pillow and went back to sleep.

When I woke up,  the Smurfs were ringing the bell to open the New York Stock Exchange.  I kid you not.  Our country is going to hell and the Smurfs are on center stage at the New York Stock exchange.  I asked myself again,  is this a bad dream?  Nope.  The Dow and S&P plunged right after the Smurfs rang the bell.  My accounts were down high 5 figures.

I buried my head in a pillow and went back to sleep.

I'm wide awake now,  significantly poorer,  and asking myself again,  is this simply a bad dream?  Unfortunately,  no.  We live in a fucked up country,  fucked up by the Republican Party.   And now these same morons are working hard to blame anyone but themselves.   And they are out to destroy America.

General Sherman was a Republican too. Right? He burned down everything in his path in his march through Atlanta,  and on to the sea.  His ghosts now roam the halls of Washington DC.  The fires can't be far behind.

I am now going to bury my head in a pillow again,  and go back to sleep.  When I wake,  I just pray that what's happening is just one, big, terrible,  nightmare ... that goes away.

Wednesday, July 27, 2011

What the code really means


When you listen to a Republican politician talk,  think past the code words and phrases they use,  to what they're really saying.  My favorite Republican line:

We need entitlement reform.

Which is code for - We pissed away $1.5 Trillion in wars.  And in our warped manner of thinking,  the richest Americans need to pay a lower income tax rate than middle class Americans.  But to pay for our Republican stupidity,  we need to make drastic cuts to the Medicare and Social Security benefits of middle class America.  Please understand,  we support your right to bare arms,  and we hate gays and abortion just as much as you do.  But,  this is the price you must pay in order for us to support your love of violence and bigotry.

Amazing how the message changes when you really listen.

North Carolina deserves better than Republican Senator Richard Burr.

Bring in the Clowns, or maybe Larry, Curly and Moe could help?


Its official.  We now have a full blown circus going on in Washington DC.  And the 3 stooges are on stage right,  prepping to perform.

In listening to the speeches the other night,  I was shocked at the divergent approaches taken by the President and The Speaker.  The President made the attempt at an uplifting speech, appealing to our patriotism.  The Speaker was mean spirited,  pointing fingers at the White House and President Obama.  Speaker Boehner main contentions were that the White House never had a plan,  but he does.   And the Speaker indicated that it would not be the President's responsibility any longer,  it was the responsibility of the Congress,  and Republicans would pick up the mantle and take care of this budget ceiling problem.

Talking about egg in the face.  We wake up this morning to find out that the Speaker's plan was not a plan after all.  His "plan" to cut $1.2 Trillion got scored by the Congressional Budget Office as only offering up $850 Million in cuts.  Now,  at this last minute,  he's having to rework his "plan" and find 50% more cuts than he initially proposed.  So much for credibility.  Even worse though,  The Speaker can't find enough votes among his own party to get his "plan" passed.   There are many Republicans who rightfully view the Speaker's Plan as nothing but a minor,  short-term fix,  to a major,  long-term problem.

Meanwhile,  we have less than a week to the deadline.   Speaker Boehner now looks the biggest fool in this entire mess.  Republicans are in a state of chaos.  And I am more comfortable than ever in my efforts to turn my back on my own political party.   It's a party of Clowns,  with Moe, Larry and Curly running around trying to lead the performance.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, July 26, 2011

LMAO ... House GOP to Speaker Boehner ... F*#& Off


This is so very funny.   The latest in the drama in Washington DC is that Speaker Boehner can't even find enough votes among his own party to get his plan passed in The House.  Enough Republicans,  with a backbone,  told Boehner to take a god damn hike with his stupid plan.   Their contention?  Boehner's plan does not address the problem.  Its only a short term fix.  These spunky Republicans want to get THE BIG FIX done,  now.

GOD BLESS these sensible Republicans.  I hope at some point we get their names.  These are the politicians who will eventually bring me back into the Republican fold.

March on Washington DC, BYOR ... Bring your own rope


I got a laugh out of this piece from the Wall Street Journal this morning:

Telephone calls and email messages are flooding into the Capitol, overwhelming the phone system and computer servers Tuesday morning after President Barack Obama urged voters to call and email Congress last night to support the Democrats’ debt ceiling plan.

An internal email sent to U.S. House Offices noted "House Telephone Circuits Near Capacity” and told users, “Due to the high volume of external calls, House telephone circuits serving 202-225-XXXX phone numbers are near capacity resulting in outside callers occasionally getting busy signals.’’

In addition, some congressional Web sites started slowing down and had trouble loading shortly after Mr. Obama’s speech last night.

I think our President would have been better off to have invited Americans to March on Washington DC.   The bottom of the invitation should have indicated ... BYOR ... bring your own rope.   If he had done this,  there would be a number of Republicans running for the hills this morning ... never to be seen again.

North Carolina deserves better than Republican Senator Richard Burr.

Listened to Senator Richard Burr on WWNC 570 am


Our esteemed Senator was on the radio this morning @ 8:20 am.  I calmed down,  opened my mind,  and tuned in.

Senator Burr's key points:
  1. Condescending attitude,  as usual,  toward the President
  2. Says Reid's plan will not pass in the Senate
  3. Outlined Republican plan - nothing new
  4. Primary difference between Ds and Rs - Reid does not get into any kind of Social Security and Medicare reform.  In other words,  Republicans really, really want to cut your Social Security and Medicare to pay for the useless wars they waged.
  5. Says $1.2 Trillion of D plan is smoke and mirrors - says savings on war not real
  6. Blames the President for not coming to the table sooner - but indicated earlier that it's not the President's responsibility since Congress is responsible - huh?
  7. Money is there to pay Social Security - if not paid,  it's the Secretary of the Treasury's fault
  8. Does not think that we will see pain in the financial mkts - Yeah Burr,  your massive trading losses in 2008 prove you an expert ....
That's it ... I can't listen to this moron any more.  I tried.  The man is an idiot.  As usual,  he has nothing of substance to offer.  He's a lawnmower salesman who got elected because he loves his wife and looks pretty.

North Carolina deserves better than Republican Senator Richard Burr.

Honoring a request from our President


President Obama asked Americans to do their part and deliver a message to our elected representatives on what we want done about this budget issue.  In doing my part,  I repeat a post I made just a few days ago:

Message to Senator Richard Burr and my Republican Party

... YOU SUCK ...

Get off your sorry asses and compromise to get a deal done.   The American people are solidly behind a blend of tax increases and expense cuts.   To allow a small minority of nut jobs on the fringe to stand in the way of compromise is mentally insane.

But then again ... so is: waging unfunded wars; raining unfunded Pharma plans on seniors; opening the window and throwing money out to farmers like it was free;  taking all the mortgage lending adults off the playing field;  pushing stupid people into homes they had no business owning; closing a blind eye to health care, education and energy costs ravaging our checkbooks;  and cutting taxes on the filthy rich while borrowing up the ass.   I guess being insane comes with the territory in being associated with the Republican party?

Can't wait to see those insanely violent protests where average,  middle class Americans come to Washington DC,  drag your sorry asses out of your offices,  and hang your butts in town square.

Make the compromise happen.  Raise taxes on the wealthy.  Cut expenses.  Just fucking get it done.

Where are we now?


After a night of speeches from President Obama and Speaker Boehner,  this is where we stand:

The President - Conciliatory.  Appealing to our need to come together as a nation.  Desiring of shared sacrifice.  Stirring speech.  The President still wants a balanced approach.

The Speaker - Typical mud slinging,  fear mongering,  finger pointing,  lying.  Continual reference to how deep cuts to federal spending will lead to more jobs made me laugh out loud. The Speaker still wants no tax increases and deep budget cuts.  The filthy rich win,  middle class America gets shoved over a cliff.

American people - Fed up.

Securities markets - still trusting of Washington's ability to come together.  The futures point higher as I type,  so the market appears headed to a slightly positive day.

My take - we're screwed.  It'll all come to a head in a huge crises early next week.  I'm getting short the market.

Monday, July 25, 2011

Senator Richard Burr to pucker up and kiss T Boone's ass


I'm hearing on the business news this evening that our esteemed US Republican Senator Richard Burr is on the verge of puckering up and kissing the ass of T Boone Pickens.   Pickens has a master plan to move America toward natural gas and away from oil.  While this may be good for America in the long run,   it's going to be damn good for T Boone Pickens,  who has vast amounts of his wealth tied up in natural gas investments.  And I imagine it will be good for Senator Burr,  who will get his pockets lined with Picken's wealth.  Make no mistake about what's going on here though.  T Boone cares about T Boone.  T Boone cares about making money.   T Boone could care less about what's good for America.

The Pickens/Burr chances of getting anything through Congress supporting a migration to natural gas?  Next to Zero.  You see,  T Boone Pickens is an idiot.  He underwrote those nasty Swift Boat ads against John Kerry years ago.  You know,  the ads attacking Kerry's service in Vietnam.   With Boone's help,  America elected that 'effing moron George W Bush,  the man who escaped serving his country in Vietnam by bar hopping through Alabama in the National Guard.   T Boone Pickens actions in underwriting those Swift Boat ads were despicable. They will be repaid with a Swift kick in the teeth to Burr and Pickens.  Payback is hell.

Nothing will get done on the natural gas front in our country until T. Boone Pickens dies,  which will be soon enough given his old age,  or the GOP wins the White House, House and a filibuster proof 60 seats in the Senate.  And it will be a cold day in hell when that happens.

Pickens was an idiot for attacking the Democrats in such a unpatriotic manner.  Senator Richard Burr is an idiot for supporting Pickens.   But,  what else is new?  Idiot + Idiot doesn't equal successful attempt at anything.

North Carolina deserves better than Republican Senator Richard Burr.

The chart does not lie, Bush's GOP screwed America


I give you,  the definitive chart that clearly explains how Republicans screwed America.  Look carefully at that chart,  and explain to me again how it is that President Obama and Democrats are responsible for all the spending going on today.  You can't.  Republicans screwed America by passing tax cuts and spending programs that carried on indefinitely.

Thank you Richard Burr.  Thank you for screwing America ... you worthless,  POS,  good for nothing .... Sheesh.

North Carolina deserves better than Republican Senator Richard Burr.

WTF?


Senator Schumer is now outlining the Democratic plan to lift the debt ceiling.  That proposal includes the cutting of the 10 year cost of the wars (the next 10,  not the previous) in Iraq and Afghanistan from $1.67 Trillion to $630 Billion.

Holy SHIT.  We planned to spend $1.6 Trillion on Republican wars over the next 10 years?  WTF?

Dick Cheney and George Bush both said it's not like Iraq is lacking in resources.  Their oil will pay for the war.   Right.  Got it.  Those fucking Republican morons robbed our country.  They took food out of the mouths of the poor.  They pissed away money on war rather than educating our young people.  They waged war instead of putting those dollars behind medical research.  They waged war instead of researching new energy sources.   They just 'effing opened up the window and threw our money out.

Watch - now they're going to cut our social security and medicare to pay for their wars.

My Republican party just plain sucks.

Are you really naive enough to think Republican politicians care about you?


Republican politicians don't give a crap about you.  All they care about is their efforts to convince naive Americans that Republicans care,  while they pucker up and kiss the asses of the super wealthy,  and kick middle class America in the teeth.

Latest example?  Eric Cantor.  The Republican who walked out of budget negotiations over an effort to raise taxes.  Was Eric fighting hard to prohibit taxes from being raised on the average American? Hell no. Eric was fighting tooth and nail to keep in place the ultra low income tax rates for hedge fund managers.

The top 25 hedge fund managers earned a collective $25.3 Billion in 2009.  In case you can't count,  that's over $1 Billion each.  What's the MAXIMUM tax rate paid on this income?  15%.  Can you believe that shit?  These assholes pay only 15%,  while the married nurse, teacher, truck driver, fireman, et al. pay significantly more. And Eric Cantor,  Republican,  is working his ass off to protect hedge fund managers.  And he's bending over backwards trying to convince you he's fighting to keep taxes low for all Americans. Right. And pigs fly too.

If you support Eric Cantor's Republican Party .... then you are naively stupid.  We deserve better than our modern day Republican party.  Our party is a party who does everything possible to protect the rich and powerful,  while pushing middle class America over the 'effing cliff.

North Carolina deserves better than Republican Senator Richard Burr.

32% of the wealthiest 400 pay less than 15% - HOW IS THIS FAIR?


This article sums up why I am so very pissed off at my Republican Party.  And this paragraph within the article makes me livid:

"The many adjustments to income permitted by the tax code, plus alternative tax rates on the largest sources of income of the wealthy, explain why the average federal income tax rate on the 400 richest people in America was 18.11 percent in 2008, according to the Internal Revenue Service, down from 26.38 percent when these data were first calculated in 1992. Among the top 400, 7.5 percent had an average tax rate of less than 10 percent, 25 percent paid between 10 and 15 percent, and 28 percent paid between 15 and 20 percent."

As a CPA, I'm very knowledgeable about our tax code.  And I work my tail off to research and take advantage of every tax break possible,  yet my federal tax bill was 22% of my income last year.  60% of the 400 richest Americans paid a lower tax rate than me!  And 32% of these super wealthy paid less than a 15% rate!

I ask myself and my party ... how in the hell is it fair when the richest Americans pay so little?   HOW?

My Republican party doesn't give a crap about middle class America. We pay a higher tax rate than the wealthiest of the wealthy.  And to balance our nation's budget to pay for the Republican Wars and the tax cuts on the wealthy,  Republicans demand drastic cuts to the very programs aimed at helping middle class America,  so the wealthiest of the wealthy can continue paying tax rates lower than us.  HOW in the hell is this fair?   Do you not understand the need to raise income taxes on the wealthy?  If not,  you must be blind.

North Carolina deserves better than Republican Senator Richard Burr.

Republicans are the party of the rich and powerful, and the naive


If you do nothing else today,  read this article.  It's an article that gives you insight into wealth in America.  It spells out what it takes in income and net worth to be in the top 1%,  and how these people got there.  And it describes how our political system keeps these powerful people rich and wealthy.

If you're not in the top 1%,  you're a fool for supporting the Republican party.  You've been brain washed.  You're a simpleton who lacks the ability to understand what's really going on in our country.  You need to wake the hell up,  before its too late.

My net worth places me squarely in the top 1%.  But I have a brain.  I know that wealth concentration in our country is extremely dangerous.  And to grow my wealth,  our country MUST be more balanced economically.   To grow my wealth,  we must have a stronger middle class.  To grow my wealth,  all of America needs to have an increasing standard of living.   To grow my wealth,  I must NOT support the Republican party.

The current day Republican party is the party for the rich and powerful, largely supported by the stupid and naive.  Republican politicians have gone to the extreme to reward the super wealthy at the expense of the middle class.  The net result is dangerous wealth concentration,  and a tremendous erosion of the financial health of middle class America.   The Republican party has taken our country down the path of ruin.   I see it coming.  Do you?

North Carolina deserves better than Republican Senator Richard Burr.

Senator Richard Burr is a pathetic LOSER


Senator Richard Burr has been in Congress for over 15 years. We've had 15 years of his trickle down economics. We've had 15 years of his laissez-faire attitude toward sensible regulation. We've had 15 years of his tax cuts largely aimed at the super wealthy.  We've had 15 years of his war mongering.  We've had 15 years of this lawnmower salesman representing us in Washington DC,  and this is where we are:
  • Our nation is $14.5 Trillion in debt.
  • Only 58% of Americans are currently employed.
  • 20% of men between the ages of 25 and 54 do not have a job.
  • The median annual wage is only $26.2 K.
  • We are $7.7 Trillion poorer than we were in 2007.
  • The 400 richest Americans pay only 17% federal income tax,  while middle class Americans pay appreciably more.
  • The top 1% of Americans own 43% of our country's wealth.
  • The bottom 50% of Americans own 2.5% of our nation's wealth.
  • 21% of our children currently live below the poverty line.
  • 44 million Americans are on food stamps.
Nice job Richie.  What are you going to do now?  Maybe head off to Disneyland to celebrate your many successes in destroying America?

North Carolina deserves better than Republican Senator Richard Burr.

Surprising? Hardly


It doesn't surprise me that nothing got done in Washington DC on the debt ceiling.  We have crazy people (Republicans) negotiating with weaklings (Democrats).   There are no adults in this negotiation process.  We have lawyers and lawn mower salesmen on capital hill.  Should anyone have expected a rational outcome when irrational and ignorant people negotiate?

The best line I saw this weekend about the drama in Washington DC was this one,  from my Twitter Feed:

Jim Himes

Friday, July 22, 2011

Message to my Republican Party and Senator Richard Burr



... YOU SUCK ...

Get off your sorry asses and compromise to get a deal done.   The American people are solidly behind a blend of tax increases and expense cuts.   To allow a small minority of nut jobs on the fringe to stand in the way of compromise is mentally insane.

But then again ... so is: waging unfunded wars; raining unfunded Pharma plans on seniors; opening the window and throwing money out to farmers like it was free;  taking all the mortgage lending adults off the playing field;  pushing stupid people into homes they had no business owning; closing a blind eye to health care, education and energy costs ravaging our checkbooks;  and cutting taxes on the filthy rich while borrowing up the ass.   I guess being insane comes with the territory in being associated with the Republican party?

Can't wait to see those insanely violent protests where average,  middle class Americans come to Washington DC,  drag your sorry asses out of your offices,  and hang your butts in town square.

Make the compromise happen.  Raise taxes on the wealthy.  Cut expenses.  Just fucking get it done.

I laugh when Boehner gets upset about cutting expenses


Speaker Boehner keeps coming to the podium and getting all upset and shit about a lack of seriousness with cutting expenses in the federal budget.   Every time that happens,  I laugh my ass off.  I can't take the man seriously ... until he writes a $5,000 check and gives it to Tim Geithner.

So,  what's up with this $5,000?  Easy.  Republicans went to war and didn't give a damn what it would cost. They didn't ask any sacrifice from the American people.  They did not raise taxes,  or cut expenses,  to pay for those wars.  They borrowed the money needed to wage war.   In fact,  they were so 'effing stupid as to indicate that Iraq was a country RICH in oil resources,  which would pay for the war.   So,  how'd that work out for us?   Terribly.  We pissed away $1.5 Trillion on Republican Wars.  $5,000 for each and every American citizen.

So,  when that asshole Boehner talks about the need to cut spending,  he needs to write a personal check for the $5,000 he owes America.  Until that happens, I can't listen to him without laughing at Republican stupidity.

Why I blog about my worthless Senator


Another brief email hit my inbox recently.   The simple question asked was:  Why do you blog? You are wasting your time,  according to this person.

Hardly.  I want my frustrations heard.   If I was a big company,  I'd spend millions on lobbyists. But I don't have money I want to waste on those efforts.  If I was the normal individual,  I'd write a couple letters or emails and maybe make some phone calls.   And the chances of those efforts falling on any ears of importance would be next to zero.

My efforts are a better use of time,  at near zero cash outlay.  I get results.  How do I know this?  My three favorite network servers from which I get multiple hits daily:

1.  executive office of the president
2.  united states senate
3.  u.s. house of representatives

While those hits might just as easily be coming from the night time janitorial staff on capital hill and the white house,  there is a high probability that my stuff is getting eye time from decision makers,  or those with influence on the decision makers.

So,  it's far from a waste of time.   And as long as the hits keep coming from those servers,  I am going to be expressing my frustrations through this blog.

Thursday, July 21, 2011

Why I support President Obama


Among recent emails,  one arrived with but a single line, a question:

Why do you support President Obama?

Easy.  President Obama has been like this giant money tree sitting in my front yard.  My net worth is 60% higher today than it was @ YE 2008 ... 21 days before he took the oath of office.  My wife and I would be even better off had we not been sitting on so much Real Estate.  Our home and rental properties were a counterweight to my stellar equity gains.  Bottom line though,  President Obama put money in our pocket,  lots of money.   When a President makes us money,  I'll go to bat for him 24 x 7.  And I don't care what color his skin,  where he went to school,  or which political party he belongs to.   If our President makes us more wealthy,  he has my support.

Most Americans blame our President for the high unemployment and lousy housing market.  But that's not where the action is these days.  Since he was sworn into office,  the S&P 500 is up 75%.  Remind me again,  what was George Bush's record on that front?  I'll do the reminding. The S & P 500 was down 31.5% over the eight years George was in office.

George W Bush was a loser.  He destroyed our economy and trashed our financial markets. Although I still managed to trade my way though and profit handsomely during his Presidency,  I have no love for that moron.   But with President Obama,  its been effortless.   The money just falls from the sky.  As long as he's pulling all the right financial market levers and I'm making money,  then our President has my undying support.  Period.

American people to Bush Republican - STFU


I'm perusing my headlines and run across this piece:

"Why I oppose the Gang of 6 plan"

I'm thinking,  well OK,  this is probably worth a read.  However,  I quickly discover that the Author is Keith Hennessey,  who served in the George Bush White House.   The really amazing thing is what crossed my mind the instant I realized this article was written by someone hired by George W Bush ....

SHUT THE 'F UP.

If you worked in the Bush Administration,  your opinions are worth less than the paper they are written on.   Your errant ways destroyed our country.  You waged needless,  expensive wars.  You cooked up ungodly expensive Pharma plans and borrowed the money to pay for them.  You rained down federal tax dollars on farmers like the money grew on trees.   Your "Ownership Society" efforts pushed far too many stupid people into becoming home owners.  You took the mortgage lending referees off the playing field.   You turned a blind eye to our nation's energy needs.   You did absolutely nothing about runaway education and health care costs.   You 'effed America.    And for that,  you don't deserve a second of my valuable time in reading your opinions on how to fix the very problems you caused.    Get lost.

North Carolina deserves better than Republican Senator Richard Burr,  and all the other Republicans who worshiped at the alter of George W Bush.  These Republicans screwed America.

Wednesday, July 20, 2011

Senator Burr, why aren't you in a gang?


Gang of 5,  Gang of 6,  Gang of 7,  Gang of 33.  It seems that anything of value getting done in Washington DC these days is getting done in gangs.

Senator Burr,  why aren't you in a gang?

Maybe US Senator Richard Burr is in a gang,  and I just don't know it?  Maybe he's in the Gang of 1? Yes,  that must be it.  I could see my Senator's gang doing critical work for our nation, like running around declaring "National Months" ... like National Call Your Parents Month,  or National Take Your Cat to the Vet Month,  or National Sweet Potato Month.  That must be the case. It just has to be.  My US Republican Senator Richard Burr is in the Gang of 1.  In fact,  I'll bet you that his gang has elected him to a leadership position!  What an honor Senator.  You,  and your Gang of 1,  must be accomplishing great things for the citizens of North Carolina.

Whew.  That's a real load off my mind.  For awhile there,  I thought Senator Richard Burr wasn't a gang member.  My mind is now at ease.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, July 19, 2011

Where do you stand Senator?

We now have a President and a Gang of Six from the Senate near alignment.

So, where do you stand Senator Richard Burr?

Are you with the Gang of Six and the President,  or are you against America?  Are you going to continue kissing Grover Norquist's ass,  or you going to compromise like a rational leader?  Are you going to be a stubborn jackass,  or are you going to do right by the citizens of North Carolina?

We're waiting ...

Can we just try to escape the web?

John Mauldin is a very widely followed investment analyst in the financial community.  He's a big picture guy and profusive writer.  John has a massive database of followers to whom he sends weekly emails.  Yesterday's missive from John was an eye opener,  and real downer.   He shared a research piece written by Lacy Hunt of Hoisington Asset Management.  You can read it here.

The bottom line?  Our economy is like an insect caught in a spider web,  with no hope of escape.  We're just waiting to be devoured.  Its only a matter of when.   According to Lacy, we got here through a combination of errors that got us into this mess,  and another combination of errors that made our situation worse in trying to escape.  Our mistakes are both Republican and Democratic.  There is little hope in being able to escape the ultimate pain that is to come.

The main problems? We stupidly cut income taxes (Republican).  And we more stupidly relied on inefficient government spending to get us out of this mess (Democratic).

While the conclusion of this article is that we've come too far to escape our demise,  I have to wonder,  why not at least attempt to reverse both problems? Why can't we both raise income taxes,  and cut spending? Our Democratic President seems ready to get that done.  But our Republican politicians are as stubborn as jackasses.   And the spider is on its way.

North Carolina deserves better than Republican Senator Richard Burr.

Monday, July 18, 2011

Ask your Republican Congressman ... HOW ?

As I was working through financial headlines today and reading like a madman in an effort to figure out where our financial markets are headed,  this headline gave me great pause ...

"Republicans Push Budget Balance; No Details on How"

Isn't that THE key issue right now? Think about it. Our nation's budget is something like $3.7 Trillion. We are spending $1.4 Trillion more than we collect in taxes. To listen to Republican politicians, they can only see a path to a balanced budget through spending cuts. But they won't touch defense, which is almost $1 Trillion. So, that leaves $2.7 Trillion from which we'd have to hack out $1.4 Trillion ... 50% cut. Those are the numbers. They don't lie. But Republicans won't tell us HOW they intend to make cuts.

So, HOW is it exactly Mr. Republican politician that you intend to balance our budget? Ask. Ask your Republican politician to just stop shoveling bullshit and tell us HOW they intend to balance our budget.

Watch those Republicans fall silent.

What's it like? It's like the neighborhood dog, who constantly chases automobile tires when cars go up and down the street. Then one day, the dog bites into a tire and doesn't let go. The poor dog gets the crap beat out of him as his body is pounded time and again against the pavement.

The Republican dogs haven't yet caught the tire. I hope they do. I can't wait to see them get the crap beat out of them in the election that follows a Balanced Budget Amendment passing.

Republicans are idiots.  Instead of wasting our time with talk and efforts to push a Balanced Budget Amendment,  they need to work seriously toward a balanced approach (spending cuts and tax increases) to bringing our annual deficits,  as quickly as possible,  down to an area of around 3% of GDP.   That would be the appropriate path to take.

But unfortunately,  our Republican politicians are not RRR - reasonable, rational and responsible.

North Carolina deserves better than Republican Senator Richard Burr.

Sunday, July 17, 2011

Why I will not vote for anyone in my Republican Party


I am just 'effing tired of hearing this Republican line "We have a spending problem, not a tax problem".  Bullcrap.

We must increase the amount we collect.  Our federal spending currently equates to 24% of GDP.  We collect 14% of GDP.   Historically,  we have both spent and collected 18% of GDP.    We CAN NOT balance our *&#^@*# budgets on spending cuts alone.  This is especially true when the 400 richest Americans are making an average of $324 Million each but paying only 17% income taxes.   If our nation needs to spend at an historical rate of 18%,  and we have a progressive income tax structure in place,  then the most wealthy need to be paying 23 - 24% tax rates on their income.

The numbers don't lie. We must have income tax increases on the most wealthy in our country.  And Republicans who stand there and insist otherwise are lying jackasses,  standing in the way of solving America's problems.   These sorry assed Republicans need their tails kicked out of office.

Among them?  Richard Burr.

North Carolina deserves better than Republican Senator Richard Burr.

Saturday, July 16, 2011

All this spending is Obama's fault, HARDLY


Barry Ritholtz has an excellent article coming up in Sunday's Washington Post.  It's available on-line today, Saturday.   Read this article.   Then explain to me again how all this spending is President Obama's fault.

The seeds for what's happening now were sown while Republicans controlled Washington DC.  And two very smart economists made deadly accurate predictions way back in 2007 as to how today's mess would unfold.   We experienced a giant credit bubble.  When it popped,  the economy tanked,  unemployment spiked,  tax revenues plunged.  Our government did what all governments do when trying to control the fallout from the popping of a credit bubble.   Our government spent way more than it collected in order to make up for lost income tax revenues,  offset the plunge in consumer spending,  and pull out the stops to cushion unemployment.   And this is President Obama's fault? PLEASE.

Don't be so ignorant as to boldly lie about the mess we are now facing.  This mess is not President Obama's fault.  All this spending and all of this mess today is the fault of the people who were in power while that giant credit bubble was allowed to inflate.  This is the fault of the free spending,  free wheeling,  idiot Republican politicians who now run around like chicken little crying about the sky falling.

Friday, July 15, 2011

Yoda weighs in on budget debate


The farce is strong with Republican politicians serving in Congress.

Fear is the path to the dark side. Fear leads to anger. Anger leads to hate. Hate leads to suffering.  And if you really want the economy to suffer, vote for a Republican.

- Yoda,  July 7, 2011

Two worst days of my life


I tripped across this post last night,  initially made over a year ago.  Given all the stress I'm feeling these days from our financial markets getting whipped all over the map based on what comes out of Washington,  this post brought a calm.  There have been worse periods in my life:

Two days stick out in my mind as the very worst of my life.

The runner up happened over 40 years ago, but remains as vivid as ever in my memory. When I was a child, we moved frequently. My father was a career military officer. Early in their careers, military officers move around the world at a head spinning pace. As a result, I attended 3 different first grade schools. I can remember riding the bus to school on the first day of the 3rd school. They dropped us off at the playground. I knew where my classroom was and headed to the door. All the kids were putting stuff on the floor outside the door to reserve a place in line, then heading out to the playground to play. It was a big deal to get a place as close to the door as possible. But I had no lunch box, coat or books to reserve a place. I didn't know what to do.

I fell victim to a 3rd grade con job. A group of 3rd grade boys came down the hall and started up a conversation. When they learned of my predicament, they convinced me to leave my lunch money as a marker in line. With naive ease, I plunked down my lunch money and headed out to the playground to play. You can guess what happened. When the bell rang, my lunch money was gone and I stood in the very back of the line. It was humiliating. I didn't eat lunch that day.

The day only got worse. At afternoon recess, some deranged kid, who is likely the leader of a modern day radical gay rights group, kept picking on me. The weird kid kept grabbing at my pants at recess and unzipping my zipper. I tried to run away and avoid him. He'd follow me and continue his games. I finally shoved him away. Of course my teacher only saw me shoving another child on the playground. Ouch. I got called out of the classroom. She delivered a slap across my face that left a protruding red welt which I still subconsciously feel 40 years later. I remember crying on the bus on the way home. I remember running to my room, burying my head in my pillow and crying myself to sleep. Bad day. It was a day that seared itself into my memory and left a life-long scar.

The worst day of my life? I walked into a voting booth on November 4, 2000 and voted for George W Bush. I voted to put Republicans back in control of our White House. I voted for the party who would adopt policies that destroyed our economy. I'm partly responsible for putting millions of Americans out of work, crushing the value of our homes and retirement plans, and sending our children off to senseless and expensive wars. Many of those children are now dead. I voted for the party that adopted such irresponsible fiscal policies that they all but bankrupted our country. That day really sucked. I am deeply ashamed. I hope to never repeat that day. And I won't. I'll never again vote for a Republican.

North Carolina deserves better than Republican Senator Richard Burr.

The world's financial markets are the ultimate boss, not the people


Todd Harrison wrote a very interesting article today that caught my attention.  Todd is a Wall Street trader,  and founder of that great website Minyanville.  Todd is wicked smart.  What I admire about him most however is his well balanced approach to living.  Family,  friends,  then the markets,  sums up his approach to life.  So,  when Todd talks,  I listen.  And today Todd is reminding us that the ultimate boss in our world is not sitting in our nation's capital.  The ultimate boss resides behind the computer screens across the world,  trading our nation's financial markets:

"If policymakers don’t make the right decision, the market will eventually make it for them."

How can that be the case?  Easy.  The American people can have entrenched opinions,  but those opinions flip on a dime when their financial future appears to be going down the drain.  My memory is flashing back to the fall of 2008.  Congress was voting on the massive $800 Billion stimulus package aimed at saving our nation's financial markets.  The American people were angry and didn't want that package to pass.  Congress snapped to attention and voted as the people desired,  against the package.  The markets rapidly sold off.  Within hours,  the people changed their minds and flooded Congressional offices with phone calls begging for that package to pass.   Have we already forgotten that lesson?

Today,  most of America wants the spending to stop.   Most of America wants the debt ceiling not to be raised.   But most of America are absolutely clueless just how damaging these actions will be to the American economy.   If we take the tact of drastic spending cuts,  or intentional defaults on our nation's debt,  we're going to see a massive plunge in the value of our investments.  401ks, pension plans, IRAs, 529s, Roths,  just plain savings ... down the drain.  Americans will once again flip their opinions in short order and demand a reversal. 

The job of our politicians is to be smart enough to see through to the end game.  The end game is to avoid the plunge.  Avoid the unnecessary damage to the pocketbooks of American families.  Resist listening to those who simply don't grasp the economic and financial aspects of this important budgetary debate.  Do what's right for our country,  before our ultimate boss,  the world's financial traders,  make that decision for us.

North Carolina deserves better than Republican Senator Richard Burr.

Thursday, July 14, 2011

The great set-up ?


Being a securities trader with a significant amount of capital on the line in this period of political gyrations over our $14 Trillion debt problems is making an old man out of me.  What hair I have left is almost white.  My nerves are shot.  It's tough to sleep at night.  My appetite is gone.  And I live in this perpetual state of wanting to reach out,  grab a politician by the neck,  and squeeze as hard as possible.  It's simply a gut wrenching time for our entire country.   And I feel it every day as I watch my accounts getting whipped around like never before in my trading career.

Most of my frustration right now is aimed at President Obama.  While Republicans are running around making political theatre and whipsawing our financial markets all over the map,  we hear nothing from our President.  He's getting hammered on the Internet.  He's getting hammered in discussion groups.  He's getting hammered on TV.  Its irritating and makes Americans wonder if he's up to the task.

But,  a glimmer of hope has now arisen.  The White House just came out with a press release indicating that there is agreement over $1.5 Trillion in cuts,  with more being slated to be discussed this afternoon.  But to listen to Republican leaders,  one would have thought these talks dead.  This makes me wonder,  has our President been planning all along to allow this circus to unfold?  Has he given the Republican leaders enough rope to allow those idiot politicians to just hang themselves?  When all looks lost,  and Republicans have made giant fools of themselves in front of the cameras,  then President Obama coolly walks on the stage and puts a credible plan on the table that is so compelling that all of America backs his plan?

Nothing will surprise me with this President.  He's a smart man.  While our Republican leaders love cameras,  love slinging mud,  love spreading fear,  love being the center of attention .... "No Drama Obama" just might make them look the fools that I know them to be.

Hope. President Obama just might deliver on it yet.

North Carolina deserves better than Republican Senator Richard Burr.

Wednesday, July 13, 2011

Oh No

Senator Burr, can you arrange for a National Moody's Investment Services Day ?

Our Republican Senator is really good at being clueless.  While a national debate is raging in our country over how to handle our $14+ Trillion in debt,  our Senator is really busy arranging National Months, Days, Hours and Minutes for frivolous issues.

Maybe he can arrange for a National Moody's Investment Services Day?  Within the last 5 minutes,  Moody's has put out a news release placing the AAA bond rating of the United States Government up for review.   The financial markets are tanking as I type.   There goes your IRAs, 401Ks, pensions, 529s, Roths .... up in smoke.

Surely Moody's is now in line for Senator Richard Burr's assistance in getting a National Day declared in their honor?

North Carolina deserves better than Republican Senator Richard Burr.

Doug Kass clearly defines the problem


I'm really stuck by a paragraph in a piece written by Doug Kass:

"My view continues to be that a contagion in confidence is the proximate cause for the recent market weakness and falling valuations. More specifically, my vote for the reason behind that loss in confidence is the increased recognition of the ineptitude and partisanship of our politicians."

Doug is a well respected voice on Wall Street.  He's a hedge fund manager and puts his money on the line on a daily basis.   Doug speaks the truth in common sense terms.  If you don't follow his writings,  you should.

Once again, Doug hits the nail on the head.  I am absolutely flabbergasted by the ineptness of my Republican Senator.   At a time when all of America is sitting on the edge of its chair trying to figure out what is going to happen in the debate over our $14 Trillion debt problem,  my US Senator is working hard at putting together legislation to sponsor some bullshit,  meaningless,  National Day for ... whatever is hot at the moment.

You want to know why there are no jobs?  You want to know why our economy can't move off a dime?   It has nothing to do with the Republican view of too much spending,  too much regulation,  and not enough tax cutting.  It has nothing to do with the Democratic view of a need for more stimulus spending.   The reason Americans won't spend,  invest,  and create jobs right now is that we have zero faith in the idiots like Republican Senator Richard Burr.

Doug is as right as rain in drought stricken North Carolina.   We sent morons to Washington DC.   We have a golfing,  former lawnmower salesman representing us in Washington DC.   This idiot is too busy arranging "National Days" to engage in the more important issues strangling our nation.

We've only ourselves to blame.

North Carolina deserved better than Republican Senator Richard Burr.

Senator, are you REALLY that clueless?

There is a massively important,  national debate raging in our country right now.  We spend $1.5 TRILLION more each year than we collect in taxes.  It's unsustainable.  And the people of North Carolina need to know what our politicians think about this issue.  Raise taxes?  On who?  Cut expenses?  Which ones?  Blended approach?  How do you balance it? Our politicians need to weigh in on this debate,  in very clear terms.

So,  what is Republican Senator Richard Burr spending his time doing in the very midst of this critical debate?  He's wasting our time,  sponsoring "National Child Awareness Month".

Senator Richard Burr - Are you really that clueless?

This is exactly why Americans are so damn pissed off right now.  We are tired of National Green Grass Month,  National Love your Family Day,  National Baseball Hour,  National Take Your Dog for a Walk Minute.   We are fed up with all the bullshit and nonsense that happens in Washington DC.   And you Senator,  have now proven you are a clueless idiot,  totally out of touch.

The only news we want out of your office at this very minute is the following "Senator Richard Burr has released a detailed plan to balance our nation's budget".  We deserve to know EXACTLY where you stand on this issue.  Not in general terms Senator.  Specific.  If you are the typical stubborn Republican and only want to cut expenses,  then exactly what do you propose we cut?

Get it done you clueless moron,  or do the people of North Carolina a favor and resign.

North Carolina deserves better than Republican Senator Richard Burr.

Tuesday, July 12, 2011

Our President is a Woosie

My Republican party destroyed America.  How did they do it?  It didn't take much effort on their part:
  • Decades of income tax cuts that went largely to our nation's filthy rich.  The rich get richer,  while the vast majority of America suffers.  But we don't need to raise taxes on the wealthy,  eh?
  • Year after year of deficit spending - according to Dick Cheney,  "Deficits don't matter".  Right. Pigs fly too.  Now we wake up $14 Trillion in the hole.  Nice job Dick.
  • Pharma and farm plans lavishing money on the old and Republican party rural base.  Let's spend BILLIONs on drugs without negotiating prices,  makes sense,  right?  Let's pour money in farmers' pockets while food costs hit historical highs,  makes sense,  eh?
  • Free trade agreement after free trade agreement that shipped our manufacturing jobs out of America.
  • The waging of unpaid for War after War after War.  $1.5 TRILLION down the drain in Iraq.  Where were those weapons of mass destruction?  
  • Pushing everybody and their mothers into homes they could not afford.  How'd that George Bush "Ownership Society" work out for us?
  • Applying their free-market,  laissez-faire mentality toward sensible regulation, and just plain taking referees off the playing field.  How'd that one work out for us in mortgage lending?
  • Doing absolutely nothing to address those expenses ravishing checkbooks of middle class America:  Energy, Health-care, Education.   Free market principles have helped control expenses in these areas,  eh?
Let's be honest ... Republicans really fucked up America.  Only a person with their head in the sand,  ignorant to budgets and economics would disagree.

So, how do we solve this problem?  I voted for President Obama because I was madder than hell at my Republican Party.  And I am still furious with Republicans.   They deserve to be punished.  The error of their ways need to be pointed out to America.   They deserve to be derided in a constant stream of brutal abuse for ruining America.  I had hoped that President Obama would take up that task.  I had hoped that President Obama would educate America on why and how Republicans were so very wrong.  But its not happening.

Our President is a Woosie.  In the current budget negotiation he comes to the microphone heaping praise on the Republican party,  while Republican leaders have now stepped to the microphone pointing fingers and slinging mud in the direction of our President.  At first,  I respected the President's position.   But now,  he's looking weak.  If he doesn't come out fighting and taking Republicans to task for destroying our country,  then he is a one term President.   The American people will not vote for a Woosie.   And our President is now looking like a class A Woosie.

President Obama either comes out fighting,  starting now, or his days are numbered.   Its now time to kick Republicans in the nuts so hard that they never breathe right again.   It's time Mr. President.  It's time to stop acting like a Woosie.

Monday, July 11, 2011

President Obama lies too?

I'm sitting here listening to President Obama's press conference.   Say what you will about President Obama,  but his performance in this press conference is one of the most impressive I've ever witnessed from a President of the United States.   Our President is speaking from the heart,  and in common sense terms.  He is casting no stones and looks to be floating above the fray of every politician currently serving in Washington DC.  My heart goes out to President Obama.   The man genuinely wants to do what's best for our country.

But near the end,  I lost all respect for our President.  He lied.   Our President just said "This recession has been hard on every American".   Really?

The rich grow richer
CEOs see record pay increases
Bonuses on wall street hit a new record
Top 400 pay less income tax than middle class Americans

while ....

Food stamp use hits records
Under-employment nears 20%
Home foreclosures are off the map

It sure doesn't sound to me as if this recession has been hard on ALL Americans.

Our President wants to do right by America.   Republicans want to protect the wealthy, the CEOs, the ruling class,  while throwing middle class America to the wolves.