Hi
Pardon me if I gush but listening to Cain speak on the campaign trail I can only hope that the American electorate feel as I do. I am not referring to any "glib" talk but rather his talk on the issues. Cain offers a fresh point of view, fueled by a belief in his convictions and a certain confidence that he can serve well as our next president.
Specifically, I like his tax approach. Mr Cain has offered to scrap the Internal Revenue code as we know it and replace it with a 9-9-9 tax. This plan is a combination of 9% flat tax on personal income, 9% on corporate income and a national sales tax of 9%. Before you get excited about any effect on inflation remember that his plan replaces our current tax code as it effects income. social security, medicare, capital gains and inheritance taxes. Right on. Just think of how the American public can now view the income tax department as no threat.
By bringing forward a good workable plan Mr Cain has posed a solution for many of our problems. A uniform tax plan will help even out the cost of government, eliminate the constant whining of liberals about the rich not paying their fair share, ( I quote Rush, "Did you ever get a job from a poor person?") Other areas which will be benefited by this plan are the unemployment problem, the balance of payments problem and the plan would even diminish the power of the lobby groups. Isn't this what we need.
Mr Cain, keep up the good work and give us the leadership which we need.
Please pray for our brave troops.
GOD Bless
Thursday, September 29, 2011
Wednesday, September 28, 2011
Did I read this correctly?
Hi
Every so often I read or hear of some hair brained idea, this morning was such an occasion. I am referring to a blog I read which quoted North Carolina Democratic Governor Bev Perdue. Apparently Ms Perdue made a speech to a civic group and in the speech the governor called for the suspension of elections for our federal congress. The reason given is that because of our national economic crisis, if we suspend elections for congress, the members of said body could devote the time to fix our broken economy.
My first reaction is to ask the governor if she ever heard of the United States Constitution? We are a constitutional republic and our governing constitution clearly defines how we elect officials. We should not take this lightly. It begs the question. "In the future how do we define a crisis?" Activist judges, congress itself, or perhaps the executive branch by fiat. I don't give a damn which party is in control, I do not want that kind of government. The way to fix our economic woes is by reining in government.
Another question which I would pose to Governor Perdue, "Congress had a major part in causing the ruination of our economy, do you really believe that giving the SAME PEOPLE more power can be helpful? I would hope that the voters of North Carolina elected a governor with more common sense that what Ms Perdue has espoused.
The cure is simple, vote out all the self serving politicians who have made a seat in congress a lifetime appointment. That is the answer, not some mushy hair brained scheme which does nothing. Governor Perdue I call on you, in your position of governor, to call for our politicians of both parties to act like grown ups. Solve the problem or quit congress. We used to say, "Fish or cut bait." That adage still applies.
Please continue to pray for the safety of our serving members of the armed forces.
GOD Bless
Every so often I read or hear of some hair brained idea, this morning was such an occasion. I am referring to a blog I read which quoted North Carolina Democratic Governor Bev Perdue. Apparently Ms Perdue made a speech to a civic group and in the speech the governor called for the suspension of elections for our federal congress. The reason given is that because of our national economic crisis, if we suspend elections for congress, the members of said body could devote the time to fix our broken economy.
My first reaction is to ask the governor if she ever heard of the United States Constitution? We are a constitutional republic and our governing constitution clearly defines how we elect officials. We should not take this lightly. It begs the question. "In the future how do we define a crisis?" Activist judges, congress itself, or perhaps the executive branch by fiat. I don't give a damn which party is in control, I do not want that kind of government. The way to fix our economic woes is by reining in government.
Another question which I would pose to Governor Perdue, "Congress had a major part in causing the ruination of our economy, do you really believe that giving the SAME PEOPLE more power can be helpful? I would hope that the voters of North Carolina elected a governor with more common sense that what Ms Perdue has espoused.
The cure is simple, vote out all the self serving politicians who have made a seat in congress a lifetime appointment. That is the answer, not some mushy hair brained scheme which does nothing. Governor Perdue I call on you, in your position of governor, to call for our politicians of both parties to act like grown ups. Solve the problem or quit congress. We used to say, "Fish or cut bait." That adage still applies.
Please continue to pray for the safety of our serving members of the armed forces.
GOD Bless
Tuesday, September 27, 2011
Why is the president in the campaign mode
Hi
It strikes me ironic that the president is going around the country campaigning for reelection. I know, all politicians do, but in his third year of his first term? Obama must feel the pulse of the people and he probably realizes that there is a great deal of anger directed towards his administration. Hence the politician takes over, but let us ask why.
If Obama had passed good legislation, what the people wanted he would not have this problem. It is not good leadership to try to rule by imposing your agenda on the populace. This is exactly what Obama is doing. Here are some specifics:
Obamacare, every poll shows that the vast majority do not want this. It has helped fuel unemployment and yet the president clings to this misguided ideal. Mr President, we cannot afford this failed policy.
Why did he, through administrative agencies, pull the plug on off shore drilling for oil? We created the energy department to wean our nation from imported oil but since the inception of this department we have seen oil dependency increase. Shouldn't we change this policy, another failure?
The so called green jobs give away. We break the law by structuring loans so that the taxpayer cedes our protected position as a lender to give loans to companies that take the money and run. Interestingly these companies are also big Obama political donors. Quote Hamlet. "I smell a rat."
Unless and until we the American people hold our politicians to some higher degree of honesty we will have this kind of nonsense going on. Please remember this when you vote.
Pray for our brave warriors.
GOD Bless
It strikes me ironic that the president is going around the country campaigning for reelection. I know, all politicians do, but in his third year of his first term? Obama must feel the pulse of the people and he probably realizes that there is a great deal of anger directed towards his administration. Hence the politician takes over, but let us ask why.
If Obama had passed good legislation, what the people wanted he would not have this problem. It is not good leadership to try to rule by imposing your agenda on the populace. This is exactly what Obama is doing. Here are some specifics:
Obamacare, every poll shows that the vast majority do not want this. It has helped fuel unemployment and yet the president clings to this misguided ideal. Mr President, we cannot afford this failed policy.
Why did he, through administrative agencies, pull the plug on off shore drilling for oil? We created the energy department to wean our nation from imported oil but since the inception of this department we have seen oil dependency increase. Shouldn't we change this policy, another failure?
The so called green jobs give away. We break the law by structuring loans so that the taxpayer cedes our protected position as a lender to give loans to companies that take the money and run. Interestingly these companies are also big Obama political donors. Quote Hamlet. "I smell a rat."
Unless and until we the American people hold our politicians to some higher degree of honesty we will have this kind of nonsense going on. Please remember this when you vote.
Pray for our brave warriors.
GOD Bless
Wednesday, September 21, 2011
Sum up of what we need to do to empower the people
Hi
In my lasts several posts I have written about the various things that seem to be going wrong in Washington. Here is a recap of what I would like to see. I hope that our elected officials get the message.
The first and most important item is that we the American people must clean Washington of the entrenched bureaucrats, politicians and lobbyists. Without that nothing can succeed. This can and should be accomplished by the ballot box. It is incumbent on us the voting public to carry this out.
The next thing needed is that we must hold politicians responsible. This responsibility should be extended to cover federal agencies, bureaus and cabinet departments. Unless and until this is done we will only have a repeat of what is going on now, only different faces. The American taxpayer deserves this change.
In future writings I will continue to espouse policies which favor limited government and more freedom.
We need our brave military so please kep these warriors in mind the next time you pray.
GOD Bless
In my lasts several posts I have written about the various things that seem to be going wrong in Washington. Here is a recap of what I would like to see. I hope that our elected officials get the message.
The first and most important item is that we the American people must clean Washington of the entrenched bureaucrats, politicians and lobbyists. Without that nothing can succeed. This can and should be accomplished by the ballot box. It is incumbent on us the voting public to carry this out.
The next thing needed is that we must hold politicians responsible. This responsibility should be extended to cover federal agencies, bureaus and cabinet departments. Unless and until this is done we will only have a repeat of what is going on now, only different faces. The American taxpayer deserves this change.
In future writings I will continue to espouse policies which favor limited government and more freedom.
We need our brave military so please kep these warriors in mind the next time you pray.
GOD Bless
Sunday, September 18, 2011
Ponzi vs. Social security
Hi
In my last 2 blogs I attempted to spell out what a Ponzi scheme is and then I gave an explanation of how social security works. Now comes the political tying of the comparison knot.
In a Ponzi scheme there is no investment of funds, only a clear intent to defraud. The person running the scheme has no other motive than to scam his victims. When you look into the funding of social security you can see similarities between both. Congress when they voted to move the social security funds into the general budget thus converting a trust into an unfunded mandate, one which would be paid for in future funds. By doing this the government actually converted the social security system into a "Ponzi-like" scheme. The continued growth of the taxpayer base has proven to be a myth, circumvented by the political desire to spend funds on pork barrel like legislation. Congress bit off more than it could chew. We now face the payback, and, to use an old phrase, "The payback is a bitch." There are detractors on both side of the issue who will try to say otherwise but facts are facts, no pundit can alter that.
Now we are faced with coming up with a solution. Here everybody goes wild, we hear-You can't take from the senior citizens, they've paid in and deserve to collect...increase the amount of wages subject to social security...increase the rate of tax on social security subject wages...use a means test to lower payments to those who collect and are affluent...push back the retirement age...etc. The list of cures goes on endlessly. Here I want you to take a good look at the so called cures, each is a scheme to punish the American taxpayer for complying with the law. Do we really need that?
My biggest complaint is with our elected officials, past, current and future (hopefully not). Why haven't they done something about the problem. Leadership includes the ability to define a problem. come up with workable solutions and then selling these solutions to the taxpayer. The American taxpayer has had no leadership on this matter for too long. The time to act is NOW. We, the American tax paying public can express our view at the ballot box. Remember when you vote in 2012. I will be writing about my ideas for a solution in future blogs.
Please pray for our troops.
GOD Bless
In my last 2 blogs I attempted to spell out what a Ponzi scheme is and then I gave an explanation of how social security works. Now comes the political tying of the comparison knot.
In a Ponzi scheme there is no investment of funds, only a clear intent to defraud. The person running the scheme has no other motive than to scam his victims. When you look into the funding of social security you can see similarities between both. Congress when they voted to move the social security funds into the general budget thus converting a trust into an unfunded mandate, one which would be paid for in future funds. By doing this the government actually converted the social security system into a "Ponzi-like" scheme. The continued growth of the taxpayer base has proven to be a myth, circumvented by the political desire to spend funds on pork barrel like legislation. Congress bit off more than it could chew. We now face the payback, and, to use an old phrase, "The payback is a bitch." There are detractors on both side of the issue who will try to say otherwise but facts are facts, no pundit can alter that.
Now we are faced with coming up with a solution. Here everybody goes wild, we hear-You can't take from the senior citizens, they've paid in and deserve to collect...increase the amount of wages subject to social security...increase the rate of tax on social security subject wages...use a means test to lower payments to those who collect and are affluent...push back the retirement age...etc. The list of cures goes on endlessly. Here I want you to take a good look at the so called cures, each is a scheme to punish the American taxpayer for complying with the law. Do we really need that?
My biggest complaint is with our elected officials, past, current and future (hopefully not). Why haven't they done something about the problem. Leadership includes the ability to define a problem. come up with workable solutions and then selling these solutions to the taxpayer. The American taxpayer has had no leadership on this matter for too long. The time to act is NOW. We, the American tax paying public can express our view at the ballot box. Remember when you vote in 2012. I will be writing about my ideas for a solution in future blogs.
Please pray for our troops.
GOD Bless
Friday, September 16, 2011
Social security and medicare
Hi
In keeping with my comparison of Social Security and "A Ponzi scheme" this blog is how the social security system works. I will use examples to illustrate my points.
In my example let us say that Business Corp hires Fred for ten hours a week, a part time worker. The rate of pay is to be $10./hour. Fred works his first week and now he gets his paycheck, 10 hours at $10 per hour. This figures to be $100. dollars. But when Fred gets his check it is less. What happened?
Fred looks at his pay stub and he sees an item "FICA". what is this? FICA (Federal Insurance Contributions Act) is the legal name for social security. There is another deduction for Medicare. Upon asking Fred finds out that these are mandatory deductions. Now let's trace what happened to the money deducted. Business Corp. does not keep the money, but instead it must pay this over to the federal government. The corporation must deposit these funds from employee deductions into an account of the US Treasury. Before making such deposit the corporation must make a calculation and pay a different, larger sum. The corporation must match the deductions made by employees for social security and medical insurance. Just as a side note there is also a payment due on state and federal unemployment. This is an example of the regulation of a business that is imposed by the tax code. More on that in a later blog.
When social security was originally set up the funds collected were meant to be kept in a "lock box" account, which was that congress would not have the power to use these funds. This was changed by congress when LBJ was president and now we the American taxpayers are paying. This is a brief explanation of social security, medicare works similarly and for comparison either plan can be used.
In my next blog I will compare the Ponzi scheme to social security.
Pray for our troops
GOD Bless
In keeping with my comparison of Social Security and "A Ponzi scheme" this blog is how the social security system works. I will use examples to illustrate my points.
In my example let us say that Business Corp hires Fred for ten hours a week, a part time worker. The rate of pay is to be $10./hour. Fred works his first week and now he gets his paycheck, 10 hours at $10 per hour. This figures to be $100. dollars. But when Fred gets his check it is less. What happened?
Fred looks at his pay stub and he sees an item "FICA". what is this? FICA (Federal Insurance Contributions Act) is the legal name for social security. There is another deduction for Medicare. Upon asking Fred finds out that these are mandatory deductions. Now let's trace what happened to the money deducted. Business Corp. does not keep the money, but instead it must pay this over to the federal government. The corporation must deposit these funds from employee deductions into an account of the US Treasury. Before making such deposit the corporation must make a calculation and pay a different, larger sum. The corporation must match the deductions made by employees for social security and medical insurance. Just as a side note there is also a payment due on state and federal unemployment. This is an example of the regulation of a business that is imposed by the tax code. More on that in a later blog.
When social security was originally set up the funds collected were meant to be kept in a "lock box" account, which was that congress would not have the power to use these funds. This was changed by congress when LBJ was president and now we the American taxpayers are paying. This is a brief explanation of social security, medicare works similarly and for comparison either plan can be used.
In my next blog I will compare the Ponzi scheme to social security.
Pray for our troops
GOD Bless
Thursday, September 15, 2011
What is a Ponzi scheme?
Hi
In the past days I have digressed from my theme of financial responsibility to one of exploring current events. Today I hope to try to explain what a "Ponzi scheme" is. Texas Governor Perry has likened he Social Security to such a scheme so I hope this blog sheds some light. The Ponzi scheme is named after a man who used such a scheme to enrich himself at investors expense.
Let me try to illustrate the idea by using an example. Mr. Pinzo decides that he wants to make money, legally or illegally. He now devises this scheme. The first thing Pinzo dose is to enlist investors, which he does by promoting an investment which will pay a high return on the investment. He does so by interesting Andy to invest. For purposes of the illustration Andy puts in $1000. Pinzo doesn't invest it because there is no investment vehicle. Pinzo s faced with the dilemma of paying Andy a dividend or return on his investment, so Pinzo sells Bill on the idea. Bill invests $1000 which is used to pay Andy's return or yield and the balance goes into Pinzos pocket. The idea then becomes a self growing one, as Pinzo now enlists investments from Chuck, Dave, Eddie, etc. The more the merrier because it means more money for Pinzo. Alas, one day the investors call for the return of their principal investment, it is not there. By this time Pinzo is somewhere on a tropical island sipping cocktails on the beach.
Of course the entire scheme is illegal. Try to catch Pinzo becomes the name of the game.
What I will try to explain in my next blog is if this idea ties or links into Social Security. Come back next time.
I ask that you set aside a moment to pray for the safety of our brave service people who are defending our freedoms.
GOD Bless
In the past days I have digressed from my theme of financial responsibility to one of exploring current events. Today I hope to try to explain what a "Ponzi scheme" is. Texas Governor Perry has likened he Social Security to such a scheme so I hope this blog sheds some light. The Ponzi scheme is named after a man who used such a scheme to enrich himself at investors expense.
Let me try to illustrate the idea by using an example. Mr. Pinzo decides that he wants to make money, legally or illegally. He now devises this scheme. The first thing Pinzo dose is to enlist investors, which he does by promoting an investment which will pay a high return on the investment. He does so by interesting Andy to invest. For purposes of the illustration Andy puts in $1000. Pinzo doesn't invest it because there is no investment vehicle. Pinzo s faced with the dilemma of paying Andy a dividend or return on his investment, so Pinzo sells Bill on the idea. Bill invests $1000 which is used to pay Andy's return or yield and the balance goes into Pinzos pocket. The idea then becomes a self growing one, as Pinzo now enlists investments from Chuck, Dave, Eddie, etc. The more the merrier because it means more money for Pinzo. Alas, one day the investors call for the return of their principal investment, it is not there. By this time Pinzo is somewhere on a tropical island sipping cocktails on the beach.
Of course the entire scheme is illegal. Try to catch Pinzo becomes the name of the game.
What I will try to explain in my next blog is if this idea ties or links into Social Security. Come back next time.
I ask that you set aside a moment to pray for the safety of our brave service people who are defending our freedoms.
GOD Bless
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