A Mad Hatter’s Summer of Events
Written by Audrie Zettick on July 13, 2009
Like Alice at the Mad Hatter’s tea party, taxpayers have recently been assaulted with many wish-it-weren’t-for-real events that make me watch for the white rabbit. It’s been a Wonderland of events and characters. Among them:
Queen of Hearts: Nancy Pelosi. Politico recounts how she “whipped” together the votes for Cap and Trade, replacing “off with their heads” with dogged, in-your-face (and perhaps other body parts) persistence. Worried more about her reputation than the content of the bill, witnesses recounted that she and her sidekicks even surrounded one holdout–Rep. Joe Baca–who then (surprise!) voted in favor of Cap and Trade. No wonder Congressman Ciro Rodriguez sprinted like a rabbit out of the House chamber after surprising Pelosi with a “no” vote.
The Card-Deck Queen’s Men–The eight Republican Congressmen–called jellyfish by Deroy Murdock but who more resemble the cowed cards–who enabled the House to pass Cap and Tax. They fell flat on their faces when the Queen appeared, but these Congressmen plus others in vulnerable districts will be trying to paint the roses red as they attempt to cover up their mistakes.
Tweedle Dee, Tweedle Dum and Even More Dum: Some of my home state Congressmen who voted for Cap and Trade in spite of the fact that PA gets a majority of its electricity from coal (great editorial here). It’s been estimated that Pennsylvanians will see over a $3,000 hike in annual electricity fees. Here’s an estimated impact by Congressional District.
The Caucus Race (click here if you don’t remember this part of the story), represented by the G8 and especially India and China on climate change. In Alice’s story, the animals, led on by the DoDo, have a nonsensical race ending in everyone getting meaningless prizes, with Alice finding her own prize, which she gives to DoDo who presents it back to her. Yeah, we may be a high consumption society, but it’s our economy and innovations that have given much of the world the freedoms and standards of living that have grown from development. Having the U.S. commit to harsher standards while India and China go nearly full speed ahead with development is an absurd gesture. Maybe we should all ride bicycles like they do in China.
Plus, even though Climate Change Happens, even THINKING that anything we do will make any meaningful impact on Global climate change is the absurdest gesture of all. The G8 nations committed to limiting global warming (by reducing carbon emissions) to no more than two degrees. A large volcanic explosion could do just that and more (will they claim success?). A closer look at Climate Change science and models shows that all the pain caused to our economy by legislation like Cap and Trade is much greater than the impact on the environment.
The Dodo: New York Times columnist Paul Krugman. He is emphatic that global warming is a bigger threat to America than terrorism. Enough said.
Cheshire Cat: played by Obama. I considered casting him as the White Rabbit, since you can argue that the American public followed him down the rabbit hole. The Cheshire Cat might be more appropriate, as this character appears to be wise, yet Alice never knows if the cat is really steering her wrong.
Recent White House policy on Iran was every bit as perplexing as anything the Cheshire Cat said to Alice. In spite of the recent election-sparked violence in Iran, Iranian officials were originally invited to our July 4 celebration–first time they’ve been invited since the Iranian Revolution. Then they were disinvited. Of course, this was after it was clear they weren’t intending to show up anyway. In Wonderland, this all makes perfect sense.
And proposed health care reform that claims to allow that we keep private insurance while all but ensuring disappearance of private plans is, well, perfectly sensible too.
Czar of Czars: Obama. Maybe we need a remake of Wonderland, featuring the Czar of Czars instead of the Queen of Hearts. ”With President Obama, the CZAR business has not only picked up.. It has been put on Steroids, Human Growth Hormones, Protein Shakes, Speed, and Epinephrine Shots.” Motley Fool
“Drink Me” potion: Alas, we the American people are at fault, willing to drink whatever comes our way if it looks to benefit us, darn the consequences. Growth of Big Government is the result. As Robert Samuelson recently noted: “Without anyone much noticing, our national government is on the verge of a permanent expansion that would endure long after the present economic crisis has (presumably) passed and that would exceed anything ever experienced in peacetime.”
Time to pull ourselves out of the Rabbit hole with a dose of reality. I wish I’d wake up.
Posted in: Federal Spending, Uncategorized, economy, policy
Cap and Tax: Need Truth in Polling
Written by Audrie Zettick on June 25, 2009
Nancy Pelosi is leading the charge to get Democrats in Congress to rush passage of H.R. 2454–The American Clean Energy and Security Act of 2009-before they jet back to their districts. Let not wisdom, deliberate debate and growing public opposition stand in the way of their July vacation (and increase in their carbon footprint).
When asked innocuous questions like “do you support government regulation to reduce greenhouse gases from cars and factories,” three-quarters of Americans purportedly agree. Heck, I do when worded that way. Some members of my family have asthma–we’re sensitive to air pollution and stay inside on “ozone action days.”
When polls go on to ask pesky things such as if they’d be willing to pay more for electricity in order to reduce carbon emissions, support for Cap and Trade drops to 52%.
Of course you have to consider that in May, polls showed few people–24% of voters– even knew what cap and trade was.
Imagine if the full truth were asked. Such as if each poll respondent had to complete this estimate of the personal impact of Cap and Trade. Or if estimates for outlying years were considered (after 2012). The bill’s been watered down to minimize impact in the early years, to gain moderate Democrat support. But when you begin to estimate costs beyond 2012, the financial impact is more pronounced.
American taxpayers better gird their loins for a major change in lifestyle, if Cap and Tax passes. The Tax Foundation notes that “Lawmakers weighing the costs and benefits of climate policy should be aware that cap and trade would impose a significant and regressive annual burden on U.S. households.” With many households just getting by financially, and with the future tax burden of the bailouts on the horizon, this is ill advised.
My main concern is with the broad impact of vastly higher electricity and gas prices. President Obama has himself admitted that “electricity costs will skyrocket” under cap and trade. See video.
I can envision school taxes rising as districts deal with increased energy costs–for buildings, busing and food. I know my food bill will rise, impacted by increased energy costs for production.
The Wall Street Journal today refutes the fictional estimates recently released by the CBO. The Heritage Foundation estimates that cap and trade will cost American families $3,000 per year.
Here’s a better–and more accurate– poll question:
“Would you support an increase in your electricity, gas, school taxes, food items, clothing and general living expenses in order to cap carbon emissions?”
Or perhaps “If your costs go up $3,000 per year, what will you give up first: vacation, braces for your kids, date nights with your spouse, dental work, home renovations, car or electronics purchases.”
Now THAT would make for interesting poll results.
May Day: Lovely Day for Anarchy & Reminder of Our Republic
Written by Audrie Zettick on April 30, 2009
Growing up in the U.S., May Day was a sort of unofficial holiday where we welcomed the spring season. Not so much in other countries, where May Day has evolved into a Labour holiday, a time for protest. And we’re not talking well-behaving tea party attendees.
The Wall Street Journal opines about what these protests hold in store (”Burn, Capitalism, Burn”)- which we may know by the time you read this. (Some articles on violent protests here and here and link to Reuters slide show here).
All this serves as a reminder of the slippery slope from disruptive, violent protest to anarchy to total government, where the people have lost their rights. An irony, since often anarchy begins because the common folk feel powerless and seek to be heard or recognized.
On this May Day, take this video to heart.
Posted in: Uncategorized, economy
Extreme Americans: The Harrisburg Tax Day Tea Party–Addendum
Written by Audrie Zettick on April 15, 2009
Addendum (4/16/09) Official estimates place the attendance at closer to 2,000. Please take time to watch the video–average mainstream Americans concerned for their country.
It may have rained–even poured–but it didn’t seem to dampen spirits at the Tax Day Tea Party on the Capitol steps in Harrisburg. I was there and agree with other sources that there were at least 1,000 people in attendance. Many more who were less willing to get chilled to the bone repeatedly drove by in their cars, taking photos, shouting in agreement…but we’re not counting those. Imagine if the weather had been clearer.
Here’s my YouTube video of the event (promise I’ll work on a new mike for next time).
Notice all the extreme Americans present, apparently engaged in threatening behavior like:
- chanting inciteful slogans (USA, USA)
- spontaneously breaking into song (God Bless America).
- Bringing food and personal items to donate to The Bethesda Mission.
All voluntary. The way we like it.
Proud to be among these great folks.
By the way, near the beginning of the video, that’s me and my daughter in the still photo with the signs (I’m Only 15 and already am $36,000 in debt). Her first protest. Aren’t we “Smart Girls.”
Harrisburg Tea Party Brewing Up Strong
Written by Audrie Zettick on April 13, 2009
Like many like-minded citizens across the country, I’ll be participating in the April 15th Tax Day Tea Parties scheduled for across the country (see here for a national google map, here for PA tax day parties). I’ll be at the Harrisburg, PA tea party helping with voter registration and videoing the event. It’s noon on the Capitol steps. I’ll be wearing my Smart Girl Politics t-shirt and in the company of my 15-y.o. daughter (so proud to be there for her “first” protest).
In contrast to the myths put forward by some on the far left that these are paid events populated by looney fringe elements, Harrisburg is continuing a grand series of successful bipartisan events that have gotten the attention of elected officials and the media for the past several years. Returning is Operation Clean Sweep’s giant Pink Pig that first made its appearance during the revolution that started in response to the 11th-hour, unconstitutional pay raise voted by state legislators (later supported by the State Courts, who also benefited from the raise).
The Harrisburg protest is also the second tea party in recent history here, and is just the next generation in this trend to demand accountability in government. Courtesy of The Commonwealth Foundation, here’s a list of important updates from the Harrisburg event:
1. We are asking that you please bring with you some dry tea bags, because once the speakers have concluded, we are going to march into the Capitol and pile up tea bags outside the door to the Governor’s office! To send a clear message, we’ll need thousands of tea bags, so whatever you can bring is greatly appreciated.
2. Please bring with you a canned or boxed food item for the “We The People” Food Drive to benefit the Bethesda Mission. There are many Pennsylvanians in need, and we want to help them and demonstrate in this small way that care can come without government intervention.
3. If you are looking to carpool or organize a bus, it is recommended that you post a message on the ‘wall’ of the Facebook page to see how many other folks are also interested.
4. Back by popular demand to speak will be central PA talk radio stars R.J. Harris, Gary Sutton, and Matt Brouillette, as well as Sen. Mike “Citizen Mike” Folmer, and Rep. Sam Rohrer.
5. Making its Tea Party debut will be activist Gene Stilp’s giant Pink Pig, of the pay raise protests fame. Mr. Stilp will have other eye-catching props on display.
6. Also back by popular demand will be the musical smorgasbord of classic anti-establishment rock ‘n roll anthems like “We’re Not Gonna Take It” (Twisted Sister) and “Revolution” (the Beatles).
See here for great suggestions on sign slogans. I may bring an extra or two, as infiltrators posing as bogus right-wing extremist protestors have already tried to get media attention at other tea parties, engaging innocent bystanders, then posting video on youtube (won’t give them the credit by linking to them). My extra sign will say “POSER” with an arrow. I look forward to meeting all the other moms who I have heard from who are attending–outraged that their kids’ legacy will be paying taxes on all the excessive spending at the federal and state level.
We’re the real deal and we’ll see you there!
Sweden To GM: A Fickle Finger
Written by Audrie Zettick on March 23, 2009
A while back, I wrote about how Bailouts Are Blarney, with the Irish government refusing to bailout failing Waterford Wedgwood PLC, their famous maker of crystal.
Now, Sweden has put the kibash on bailing out failing Saab. Who’d a “thunk” it? This from a country that nationalized its banks. Seems a bit fickle.
With GM’s withdrawal from Saab, the company filed for protection from creditors. GM’s bankruptcy, of course, would have forced renegotiation of the union contracts that have hogtied any chance of the renewal of the automaker.
Mind you, GM is the one blamed for destroying the Saab brand; known for its uniqueness and quirkiness, sales plummeted drastically after GM purchased the brand. Once a small but highly-sought brand based on its performance, the brand image became muddied once GM started inserting parts from Opel and making changes to try to compete against BMW.
The Swedish government saying “no” to a Saab bailout is probably akin to giving the U.S. automaker the finger.
Posted in: Auto bailout, GM, Uncategorized, economy
Who Wasn’t In The Room: Small Business Taxpayers
Written by Audrie Zettick on March 19, 2009
Business titans (or at least those with titanic salaries) stood elbow to elbow with President Barack Obama in January, part of the lobbying of the American public aimed at convincing us that indeed, business is behind his efforts to stimulate the economy. More recently, the President spoke to the Business Roundtable, another bastion of high-level, Fortune 500 CEOs.
But it’s the elbow grease of American small business that’s not only kept this economy humming in the past, but kept us true to our traditions of self-determination and independence. What qualifies as a small business differs depending upon what industry you are in and who is doing the defining. (Example: the SBA considers a telecommunications reseller with up to 1500 employees a “small” business although generally the top break is at 500 employees). What I am talking about is the meat and potatoes of small business–the more than 60% of businesses with zero to four employees.
Failure to see things from a small business perspective is a bipartisan issue. My own family’s experience speaks volumes. Through Democrat and Republican administrations, we couldn’t fully deduct health care premiums, had to spend time figuring out how to adjust books for new tax tweaks and spent much more than we’d like on CPAs (a worthy profession, but really, I’d rather keep the cost down). And don’t get me started on the voluminous paperwork and phone calls when (not if) we get a notice from the government indicating a payment error–which to date has always been an error on their part.
The past month, I’ve been phasing out our family promotional products business. We’ve been in business since 1965–thriving much of that time. But since my mother’s death 5 years ago, we’d been in a “holding” mode as I helped my 81-year-old dad from a distance (unlike when I was fully committed to the business in the 1980s). I SHOULD be focused on helping our new owner “work” our client accounts, since payment for the sale is based on a monthly percentage of the sales from our existing clients. Instead, I’m focused on administration. I have an MBA. How hard could that be?
The list of taxes I’m dealing with is daunting. Federal Withholding, Medicare, Social Security, Pennsylvania Withholding, Pennsylvania Sales Tax, Federal Unemployment and PA Workers Compensation, and local nuisance taxes (that require quarterly filing, even if we don’t owe a dime). And we only had one employee at the time of the sale. Like many small business owners, over the years we’ve found that complying with various local, state, federal tax and regulatory issues takes up more of our time than we’d like, keeping us from expanding our businesses.
I’m ever hopeful that the Obama Administration might do right by small business. This week he DID get the attention of some small business owners by proposing to use $15 million in TARP money to get credit flowing for small business. It’s a worthy objective. In layman’s terms, Obama’s recent initiative uses funds to buy SBA-backed loans and get them off the banks’ books, allowing banks to lend again. However, the stimulus package already has increased SBA-backing of the loans themselves to 90% from 75%–making me wary considering the recent track record on other programs (wasn’t the initial bailout sold to us with the intent to get bad mortgages off the books of financial institutions and didn’t we get into this economic mess because of mortage lending to risky borrowers?).
Still, add to this his recent announcement to allow small businesses to get a larger tax break for losses and it seems headed in the right direction. But the actions still miss the point.
Most of us who own small businesses don’t apply for SBA-backed loans and don’t intentionally try to lose money. The average small business owner isn’t going to apply even for the basic SBA loan, which requires all owners of 20% or more of the business to personally guarantee the loan. SBA loans are structured to spread the risk around (as they should be), with SBA working through local commercial institutions, and the borrower, lending institution and the SBA–in theory–all assuming risk (although this has altered under TARP). In this economy, it’s understandable–and responsible–if both the lenders and the borrowers batten down the hatches, so to speak.
Whether we are a stay-at-home mom with an online business or the local plumber, we are more concerned with the financial balancing act: investing our proceeds into the business versus keeping enough self-employment tax funds in our checking account to pay our quarterly taxes. After all, we get the pleasure of withholding (and then forwarding) the federal taxes deducted (like all employees) but paying the matching portion of these same taxes as the “employer.”
Perhaps President Obama should have invited some of these folks below into his inner circle on small business.
“My business doubled last year. I think we would all be better off if the government gave us our taxes back and let us invest the money as we saw fit in our own businesses. I’m creating prosperity for myself and others everyday…the federal government is just getting in the way of progress.” Augustine 25
“Wouldn’t it be better just to cut their tax burden? By burden I mean both the taxes paid and the complexity dealing with tax code. When you need a lawyer and an accountant just to make sure you’re following the law, the law is too complex.” Dan
I hear you, brothers.
Posted in: Obama, Small Business, economy, policy
Revolt, Repeal, Retire: Time for a New Tea Party
Written by Audrie Zettick on February 26, 2009
A host of taxpayers will make their voices heard this Friday, February 27 at noon (EST) and beyond at regional or virtual “tea party” protests. Coordinated by groups Top Conservatives on Twitter, Smart Girl Politics and the #Dontgo Movement, it was originally billed as a Chicago Tea Party in response to CNBC on-air personality Rick Santelli’s rant on a Chicago trading floor about needing a new taxpayer protest a la the Boston Tea Party. It has spread like wild fire to a nationwide effort.
The intent is to let Congress know that we want them to repeal all their irresponsibile spending bills. If not, we’ll retire THEM in the 2010 election. We are mad. We know technology. And we intend to use it toward that end.
Congress must repeal :
The Mortgage Bailout
The $1 Trillion Pork-Laden Stimulus
The Auto Bailout
The Wall Street Bailout
If you are like me, you’ve been busy. You have obligations (hey, we’re selling our family business this week AND my local tea party in Harrisburg is scheduled for when my scout troop has a cookie booth obligation!). Nonetheless, there are so many ways to participate, you can find one. I will.
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Host a local event (again, can be for any date). Find helpful guidelines here.
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Twitter at that time, using the hashtag #teaparty
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“Attend” the virtual tea party in Second Life (I’m new to this, but may try. The worst that can happen is that I wander around lost in a virtual world….they say they’ll have signposts to follow, so perhaps this can’t be any worse than IKEA. The best that can happen is that people think I AM actually tall and thin…). Here’s a link to a video about how Second Life works. And here is info on where the protest will be:
- Friday, February 27, 2009
9:00 a.m. - 9:30 a.m. SLT/PST
12:00 n. - 12:30 p.m. EST
Sagamore Island Dock
http://slurl.com/secondlife/Sagamore/165/155/32
Follow markers from the landing point (gazebo) to the dock
If you want to make a sign for the protest, here are suggested slogans.
Or get a chuckle out of the related videos on the tea party protest theme posted on Michele Malkin’s blog.
Here, I have the inspiration for the entire event. See you at the Party.
Posted in: Uncategorized, economy
Reagan Bytes: Time’s Up–Words for Today on the Economy
Written by Audrie Zettick on February 25, 2009
I’m speaking to you tonight to give you a report on the state of our Nation’s economy. I regret to say that we’re in the worst economic mess since the Great Depression.
Words from President Barack Obama? No, Ronald Reagan, from his February 1981 speech to the nation on the economy.
Here are a few other timely quotes from that speech to the nation:
We were once the greatest producer of automobiles, producing more than all the rest of the world combined. That is no longer true, and in addition, the “Big Three,” the major auto companies in our land, have sustained tremendous losses in the past year and have been forced to lay off thousands of workers.
In other words, we’ve lived through this before. And, the auto companies have never “fixed” their issues.
I urge those great institutions in America, business and labor, to be guided by the national interest, and I’m confident they will. The only special interest that we will serve is the interest of all the people.
If only these words were heeded today.
Circumstances in 1981 were similar but not quite the same. Mortgage rates were at 15.4 percent and inflation approached 13 percent. But the national debt had ballooned, taxes were eating a growing percentage of family income, seven million Amercians were unemployed and many couldn’t afford their homes.
However, Ronald Reagan’s solution was to propose an economic package of budget reductions and tax reform. He sought to reign in federal spending and increase the take-home pay of Americans. The differences in his approach contrasts to that of “Team Obama” due to the fundamental contrast in how they view our economy and our national wealth. See how these words of Ronald Reagan below contrast to President Obama’s:
“We can create the incentives which take advantage of the genius of our economic system — a system, as Walter Lippmann observed more than 40 years ago, which for the first time in history gave men “a way of producing wealth in which the good fortune of others multiplied their own.”
“Our aim is to increase our national wealth so all will have more, not just redistribute what we already have which is just a sharing of scarcity. We can begin to reward hard work and risk-taking, by forcing this Government to live within its means.”
“Over the years we’ve let negative economic forces run out of control. We stalled the judgment day, but we no longer have that luxury. We’re out of time.”
Time’s Up. I’ll let those words speak for themselves.
Source: ”Address to the Nation on the Economy from the White House February 5, 1981,” The Public Papers of President Ronald W. Reagan. Ronald Reagan Presidential Library, http://www.reagan.utexas.edu/archives/speeches/1981/20581c.htm accessed February 25, 2009.
Posted in: Ronald Reagan, economy, policy
Poised to Wreak Havoc: Who Has Their Hands on the U.S. National Debt
Written by Audrie Zettick on February 12, 2009
Who ARE the top ten foreign holders of U.S. debt? And does it matter?
Let’s get to the second point first. First, I’m not a conspiracy theorist, plus I’m a college business instructor who believes in the global marketplace and all its potential. But I have always had trouble when foreign-based entities take over U.S. infrastructure. Call me crazy, but living near the Three Mile Island nuclear plant, I was less-than-pleased when, in 1999, AmerGen Energy Corp.–partly owned by a British firm–took over the plant (since purchased by Exelon). Nothing against the Brits, I just don’t like when someone too far from home has power over me (I have enough problems with Washington, D.C., let alone foreign entities).
So I developed an eye twitch after listening briefly yesterday to Glenn Beck discussing a video featuring Congressman Paul Kanjorski (D-PA, 11th). (Okay, Kanjorski is enough to give anyone an eye twitch). The Congressman indicated that there was a gargantuan (electronic) run on the banks in September that could have brought down the U.S. economy that day if left unchecked ($550 billion dollars bled from our economy in just one hour). Here’s his video below (the interesting part is about 1/3 of the way through the video):
Does any foreign entity have enough control on the U.S. financial “infrastructure” to wreak havoc? Kanjorksi was speaking of the banking system. But our financial infrastructure also is tied to our national debt and how we finance it. Who “owns” our debt? See Geldpress here.
Consider just this one aspect: China and Japan have consistently owned more than $500 billion in U.S Treasury securities. Each. U.K and Russian are also on the top ten.
Do I mention this because I think they all have evil intent? No, but they are obligated to watch out for themselves first. With their own economic concerns, what happens if and when they decide it’s not worth investing in U.S. securities? China’s U.S. Treasury investments dropped nearly $200 billion from March 2008 to November 2008.
That’s something to wrap your brain around….especially as Congress ratchets up the national debt.
Posted in: economy
