22 Reasons Why Obama will Raise US Taxes

For Americans looking for change, they are about to feel it, after they of course wake up from denial. Debt may actually be the reason for the American Dream demise:America’s debt now exceeds the $50 trillion GDP of all economies in the entire world!

Paul B. Ferrell of Marketwatch laid down an updated list from what he did last year. We all know that whoever gets elected there is a massive debt that will be inherited from Bush. Obama adds another $1.84 Trillion with the current mortgages which is “four times Bush’s record deficit last year, with deficits over $500 billion annually for the next decade.”:

1. Federal budget deficits/debt

Federal debt is now $11.5 trillion. Add $1.4 trillion this year. That’s almost 100% of GDP.

2. Social Security unfunded debt

No longer a political “third rail,” we have no choice: We must raise taxes, or cut benefits.

3. Medicare unfunded obligations

Unfunded after 2016, $65 trillion by 2041, consuming 100% of tax revenues by 2075.

4. Health care insurance liabilities

Costs rising at double the inflation rate, 47 million uninsured. Obama plans universal coverage of this mega-$2.5 trillion business. Can we trust insurers sudden offer to help?

5. Military/defense budget costs

Budget $662 billion. Add veterans affairs, Afghan, Iraq: $1.45 trillion 55% of budget.

6. Homeland insecurity risks

Ports, chemical plants, borders at risk. Black Swans are lurking; with unpredictable mega-buck consequences.

7. Real estate/mortgage losses

Global real estate from $40 trillion to $70 trillion in 5 years. Total global wealth lost since 2007, $50 trillion. U.S. mortgages shot from $7 trillion to $14 trillion in 8 years, now down $6 trillion, with 20% of homes worth less than the mortgage.

8. Peak oil and energy alternatives

Oil’s soon declining. Extraction costs will exceed sale price. Nuclear energy cost: $75 trillion. Coal’s dirty. Wind, biofuels: costly.

9. Cap and trade

Taxing fossil-fuel emissions will increase energy costs. But it won’t change much. China won’t stop. So population grows, with demand and global warming.

Read more…

The Core Difference between Democrats and Republicans in the US

I got this from a Facebook friend. To put this entire note in simple terms, let me give some vocabularies to summarize:

character |ˈkariktər| noun: the mental and moral qualities distinctive to an individual; strength and originality in a person’s nature 

hypocrisy |hiˈpäkrisē|noun: the practice of claiming to have moral standards or beliefs to which one’s own behavior does not conform; pretense.

This is not about politics. This is about decency and respect. Bush may not have been the perfect President, but he has always been a decent human being. Thank you, President Bush for showing that cowboys got more class than any Rhode Scholarship or Harvard degree combined. This is why I cannot stand liberal elitism.

Jan 20th, 2009

Outgoing President George W. Bush quietly boards his helicopter and leaves for Texas, commenting only: “Today is not about me. Today is a historical day for our nation and people.”

Eight years ago

Outgoing President Bill Clinton schedules two separate radio addresses to the nation, and organizes a public farewell speech/ rally in downtown Washington D.C. scheduled to directly conflict with incoming President Bush’s inauguration ceremony.

Jan 20th, 2009

President Bush leaves office without issuing a single Presidential pardon, only granting a commutation of sentence to two former border patrol agents convicted of shooting a convicted drug smuggler. He does not grant any type of clemency to Scooter Libby or any other former political aide, ally, or business partner.

Eight years ago

President Clinton issues 140 pardons and several commutations of sentence on his final day in office. Included in these are: billionaire financier, convicted tax evader, and leading Democratic campaign contributor Marc Rich; Whitewater scandal figure Susan McDougal; Congressional Post Office Scandal figure and former Democratic Congressman Dan Rostenkowski; convicted bank fraud, sexual assault and child porn perpetrator and former Democratic Congressman Melvin Reynolds; and convicted drug felon Roger Clinton, the President’s half-brother.

Jan 20th, 2009

The Bush daughters leave gift baskets in the White House bedrooms for the Obama daughters, containing flowers, candy, stuffed animals, DVD’s and CD’s, and heartfelt notes of encouragement and advice for the young girls on how to prepare for their new lives in the White House.

Eight years ago

Clinton and Gore staffers rip computer wires and electrical outlets from the White House walls, stuff piles of notebook papers into the White House toilets, systematically remove the letter “W” from every computer key-pad in the entire White House, and damage several thousand dollars worth of furniture in the White House master bedroom.

Headlines On This Date 4 Years Ago

“Republicans spending $42 million on inauguration while troops Die in unarmored Humvees”

“Bush extravagance exceeds any reason during tough economic times”

“Fat cats get their $42 million inauguration party, Ordinary Americans get the shaft”

Headlines Today

“Historic Obama Inauguration will cost only $170 million”

“Obama Spends $170 million on inauguration; America Needs A Big Party”

“Everyman Obama shows America how to celebrate”

“Citibank executives contribute $8 million to Obama Inauguration”

Republicans WILL Rise from the Ashes and Emerge Stronger

If ever there was an election that was not worth winning, it was the contest of 2008. While it was hard-fought on both sides, had McCain won, it might have spelled the end of the Republican Party. As it is, the party is well-situated to come back in 2010 and in 2012, if it learns the lessons of this year.

Simply put, all hell is about to break loose in the markets and the economy.

The mortgage crisis will likely be followed by defaults in credit card debt, student loans and car loans. We will probably be set for two years of zero growth, according to economists with whom I talk. And the federal efforts to protect the nation from the worst of the recession will probably lead to huge budget deficits and resulting inflation. We are in for stagflation that could last for years.

Had McCain won, he would be the latter-day Hoover, blamed for the disaster that unfolded on his watch. Now it is Obama’s problem. With the Republicans suffering a wipeout in congressional elections (although not as bad as they feared), the ball is now squarely in the Democratic court. Good luck!

If Obama raises taxes, the situation could get even worse. With a liberal Congress on his hands, he will be constrained to move to the left, if he needs any pushing.

When Clinton was elected in 1992, the Democrats in control of Congress gave him a clear message: Either you govern within the four walls of the Democratic Caucus or you won’t get our support. Crossing the aisle to get Republican votes, even including the GOP in negotiations, was a no-no for which the president would pay dearly if he transgressed.

The result was predictable. Moderate initiatives like welfare reform were scrapped, the Congress passed tax hikes and legislation became festooned with liberal amendments.

Faced with the need to round up every last vote in the Senate and House Democratic caucuses, Clinton had no choice but to load up conservative bills like an anti-crime measure with liberal pork (like a provision for midnight basketball courts in urban areas) to get unanimous caucus backing.

Obama will have to move left to appease his caucus. He will become their hostage, and they his jailers.

This dynamic will produce extreme-left-wing governance, which the Republicans can blame for the continuation of the recession and for any worsening. The party will recover, fed by anger at Obama’s policies, and will emerge from this defeat stronger than ever.

But the Republicans must learn the lesson of MoveOn.org. Founded in the bleak days of the Clinton impeachment, MoveOn developed a grass-roots Internet base. Building up its e-list of activists and contributors, MoveOn laid the basis for the incredible Internet appeal of the Obama campaign. At last count, Obama has 4.5 million donors, most online.

Conservatives cannot count on the Republican Party to fight their battles for them, and certainly cannot count on them to win. The right needs to develop cyber-roots conservative organizations to rival the power of groups like MoveOn.org.

The stellar efforts of Newsmax.com and its ally, GOPtrust.com, illustrate the power of such efforts. Together, these groups raised $10 million for an independent expenditure on media in swing states featuring the Rev. Jeremiah Wright’s anti-American bombast.

And their efforts worked.

Virtually all the polls agreed that Obama would win 52 percent to 53 percent of the vote, but the surveys varied in the amount of undecideds they found.

On Election Day, virtually every undecided voter went to McCain, and Obama’s final vote share was no more and no less than the 52 percent to 53 percent the surveys had predicted. This unanimity among undecided voters is attributable to the endgame of groups like GOPtrust.com and Newsmax.com.

These groups have to lead the way in running media to battle against the leftist legislation that will undoubtedly emanate from the Obama administration and the liberal Congress America has just elected. Then they can become the basis for a Republican resurgence, just as MoveOn.org was this year for the Democrats.