Wednesday, May 19, 2010
China is urging the US to become fiscally conservative. I suppose they have to take that position given they and Japan own most of our debt and do not want us to default. This just adds to the necessity of balancing our budget and phasing out entitlements....which will never happen under this spend happy regime.
To give some perspective, the USA's top tax rate is 39%; averaging roughly 35%. The US needs to adopt New Zealand like stances on corporate taxes to get this economy moving again....and of course, slashing spending. Just an interesting note: Ireland's corporate tax rate is 12.5%. If we had that rate here, not even Obama could keep this economy from flourishing.
Barnes brings up a number of valid points in this article, however, I do think there is a very strong argument to make that the American people are anti-incumbent. We were angry with Republicans for spending during the Bush years and angry with Democrats now. A vast number of those from the Bush era are still around. We need to hit the reset button on a vast number of these seats because solid conservatives are running, competing and winning. Barnes is correct in saying that embracing the Tea Party is a recipe for victory. Why anyone would denounce or not embrace the Tea Party is beyond me given their favorability with the American people.
Hopefully the Illinois folks are listening up. It would be amazing to take Obama's old seat. That would really be a blow to his ego.
This is truly becoming an national problem. The Supreme Court will undoubtedly get involved here soon seeing that interstate commerce is being directly affected. California and a certain city in Ohio are behaving exactly like the President and his cabinet members: throwing around opinions and beliefs without reading the bill. They are playing politics and race baiting on a national security issue. Nothing is below a liberal.
Courtesy of The Heritage Foundation. Either one of two things is going to happen: 1) we continue to spend and we go bankrupt as a nation or 2) We elect a @Chris Christie like President to take a hatchet to our spending. I prefer the latter.
How are we supposed to think any scientist is credible on this subject any longer?
Oddly enough, my wife and I were watching HGTV over the weekend and a couple bought their first home: $500K, no money down, 8% interest rate fixed for 3 yrs....the year: 2008. This collapse was right in front of our faces in even the most unlikely of places. Freddie and Fannie are still alive today thanks to taxpayers. These corrupt, immoral institutions need to be privatized or eliminated for the good of our society and economy.