Is the Bailout a Waste of Money?

Yesterday's article Oppose the Auto Bailout was not intended to be anti-union or anti-auto company, it's simply the opinion of an old fashion cheapskate. If the government is going to spend taxpayer dollars they need to ensure that those funds are not being wasted. There has been little effort to explain why pumping money into failed businesses will fix that failed business model. Voters should contact their lawmakers and let them know they will hold them responsible if they give automakers billions of taxpayer dollars only to see those business collapse in the future.

Contact Your Senator

Contact Your Congressman

Similar sentiments we're expressed by Senator Mitch McConnell (R - KY).

U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Tuesday regarding proposed auto legislation:

“The auto industry is vitally important to our nation’s economy and it is vitally important to my home state of Kentucky. This is not in dispute. The question before us is how to reverse the decline of some of these auto manufacturers after decades of complicity between management and labor.

“I understand congressional Democrats sent a revised proposal to the White House late last night. We will reserve our judgment until we see the latest text. But the proposal we saw yesterday afternoon fails to achieve our goal of securing the long-term viability of ailing auto companies.

“I want to support a bill that revives this industry. But I will not support a bill that revives the patient with taxpayer dollars yet doesn’t secure a commitment that the patient will change its ways so future help isn’t needed.

“To do so would be a betrayal of the millions of hardworking taxpayers who are not at fault for the troubles in the auto industry. And it would be unfair to the millions of Americans who depend on these companies.

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No Auto Bailout Part 2

Buy an AeroCar

From Wired Get Your Own Vintage Flying Car for $3.5 Million

"Just six Aerocars were ever built, and they did fly when they were built. Marilyn Felling bought Aerocar No. 2 more than 25 years ago, but never restored it. She insists it has been examined by a mechanic and could be made airworthy in a few hours. Of course, N103D hasn't flown since the Ford Administration, so that may be optimistic.

Still — how cool would it be to own a flying car that'll do 60 mph on the highway and 110 in the air? Just think of the joy you'd feel. And if you can't think of enough good reasons to own it, the folks at aerocarforsale.com have spelled them out for you.

You can pick one up "for inclusion in your private collection." Or if you're feeling philanthropic, buy one "for a donation to your favorite museum." Maybe your kids or grandkids would appreciate it "as a legacy for the heirs of your estate. "Our favorite is the promise of "a 1031 property exchange," though we have no idea what that means. "

Contact Reps - Protest Auto Bailout

RedState.com has posted a couple pieces on opposing the government bailout of the auto industry. The first by Representative Michele Bachmann opposes not just the auto bailout, but the concept that Washington should be spending tax payer money to prop up failed businesses. The second article by Francis Cianfrocca discusses how contract renegotiations with the United Auto Workers union need to be included any proposed bailout as failure to so will result in the eventual failure of those companies with or without a bailout. Excerpts below.

One main reason the auto bailout is facing such opposition is that there has been no attempt to explain why pumping money into a failed business will fix that business. If these company continue on their current path this bailout will simply prolong the time before before failure, and will result in simply wasting a huge sum of tax payer dollars.

For those who oppose bailing out the auto industry, folllow the links below to contact your Senators and Congressmen to let them know that you do not support this bill, and that you will hold them responsible for wasting your money.

Contact Your Senator

Contact Your Congressman

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No More Bailouts by Rep. Michele Bachmann

Washington needs to stop handing out your money like its Monopoly money. Each dollar is hard-earned and the men and woman who worked so hard for it deserve more respect from their government than to be treated like an ATM. Our economy grew strong on the backs of Main Street; from the ideas and sheer sweat of innovators and entrepreneurs flush with the American spirit. Risk-taking is part of that adventure. But when government guarantees against failure, risk and reward becomes meaningless. Eventually, that will crush our economy- and that eventually may not be that far down the road.

The Critical Missing Piece in the Automaker Bailout by Francis Cianfrocca

There will be no significant cost-cutting or pain imposed on the UAW in the restructuring of the domestic auto industry, unless it happens right now, this week.

The UAW must agree to a labor-cost structure that, in Sen. Corker’s words, is no higher than that faced by foreign (“transplant”) automakers who assemble vehicles in the United States. The union must agree to very painful concessions on wages, healthcare, work rules, and retiree benefits.

Gettelfinger, playing to the galleries, has assured lawmakers that he will indeed be open to doing whatever he can to seal the deal. Among other things, he’s signaled willingness to end the so-called “job bank.” You know, that’s where an automaker closes a production facility that no longer makes sense, but continues to pay the workers full wages and benefits to play video games all day, for years into the future.

But what Gettelfinger has pointedly not said, is that he’s willing to re-negotiate the contract that the UAW currently has with the automakers. In short, he’s not preparing to compromise at all, or to ask his people to take any real pain.

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Oppose the Auto Bailout

Crack Pipes Being Sold in Convenience Stores

There are several reports of 'glass roses' which are used as crack pipes being sold in convenience stores around the country. The following report comes from Georgia Georgia Police Chief Suggests Ban on Glass ‘Rose’ Pipes

"Police Chief Dennis Bell of Arcade, Georgia, is asking lawmakers to ban the three-inch glass pipes with a fake rose inside, the Associated Press reports. Bell says the novelty items, sold in many convenience stores, masquerade as crack pipes.

Known as “The Rose,” the pipe has a piece of cork on one end with a flower in the center. Bell said he is hoping the other police chiefs in Jackson County and the local sheriff will join him in seeking legislation to outlaw the pipes, the newswire reports."

On the VH1 reality show 'Celebrity Rehab' they show former patient Seth Binzer going to the 'Corner Mini Mart' in Pasadena, California and buying a 'glass rose' for drug purposes. This is seen in the following clip...

The store in this clip is
Corner Market
342 E Orange Grove Blvd.
Pasadena, CA
(626) 792-5256

Crack Pipes Being Sold in Convenience Stores

Mortgage Calculator and Refinancing

Looking to refinance your home, or looking for a new home a Mortgage Calculator can be a helpful tool. Use it to calculate monthly payments, down payments, and use it to find out what mortgage arrangement works best for you

Green and Affordable Holiday Gift Idea

Excerpt from Montana's News Station Gift ideas for a "green" Christmas

Saving money is a top priority for many of us this holiday season, but you can still give gifts that save the environment, too.

Remember when you were a kid, and you made coupons for chores or services as gifts because they were free? Well, promising to shovel the sidewalk and mow the lawn, or even take care of the recycling, are very green gifts to give this Christmas. And even if you're an adult now, those coupons are still free.

And you can still go "green" without putting too big of a dent in your wallet.

For instance, why wrap a CD when you can take your loved one to an actual concert? Gifts of an experience are more personal, can cost less, and don't involve the waste of packaging. But if you still like the sound of that CD, try an iTunes gift certificate. They're available everywhere and they eliminate shipping and packaging.

Gift baskets are a great way to give your green gifts a personal touch...and they can cost as little or as much as you're willing to spend. And if you use recycled, reclaimed, organic, and/or natural products that makes your gift even more green.

You can do any kind of combination you want; for instance, you can simply raid the natural and organic section at the local grocery store.

McCain Kudlow Interview - Keep Taxes Low Help the Economy

Excerpt from An Interview with Senator McCain by Larry Kudlow

McCain: Well, I try to talk about them more often. A lot of the people that come, frankly, are people that are having trouble staying in their homes, keeping their jobs, etcetera. But I think it goes back to all this business of Sen. Obama’s view of “fairness.” When Charlie Gibson said, why would you want to raise capital-gains taxes when you know it will decrease revenue? And he said in “fairness.” And he told Joe the Plumber — Joe the Plumber got the message through better, what we’ve been trying to do this whole campaign. [Obama] wants to “spread the wealth around.” That takes from the investor class. That takes money from one group of Americans and gives it to another.

Now that signal has been very clear. And I think people ought to pay attention to it, because it’s been tried before in other countries, and policies of other left-liberal administrations. It doesn’t work, and it’s bad for America. We want to encourage the investor class, and that means capital-gains and dividend taxes are low.

Kudlow: You’ve just unveiled a new tax cut on capital gains. Can you tell us about that? Because in some sense, that’s probably the most important investor class tax.

McCain: It’s the most important in many respects, Larry, and we want it low and we want it lowered. Every time — there’s one tax that there’s no argument about, that every time it’s been lowered since Jack Kennedy, we have seen an increase in revenues. Now, why anybody would argue, as Sen. Obama does, that we need to raise it, even if it’s — of course, the amount needed to raise it is varied with whatever poll he’s taken — but the point is that we want to lower it and keep it low and encourage investment, especially now in America in these difficult times.

Kudlow: But senator, what is — the current law rate is 15 percent.

McCain: Yeah, yeah.

Kudlow: You’re taking the cap-gains rate down to what?

McCain: First down to 10 percent, I would like to see it, and gradually even make it lower. Look, why should we tax people’s gains twice? Why should we tax them twice, okay? They make an investment, they should be able to get their returns on their investment. And capital gains is obviously — low capital-gains tax is probably the greatest incentive for investment that we have in America today. And so, look, I’ll be glad to listen to smart people like you, Larry, but the worst thing we can do is tell people we’re going to raise it, and that, obviously, would chill investment in America, right?

Promises of Redistribution and Spread the Wealth

David Harsanyi's article If It Redistributes Like a Duck... looks at Obama's plans to change the fundamental structure of the American economy by focusing tax codes on redistribution of wealth.

Obama is the first major presidential candidate in memory to assert that taxation's principal purpose should be redistribution.

The proposition that government should take one group's lawfully earned profits and hand them to another group -- not a collection of destitute or impaired Americans, mind you, but a still-vibrant middle class -- is the foundational premise of Obama's fiscal policy.

It was Joe Biden who said (not long ago, when he still was permitted to speak in public), "We want to take money and put it back in the pocket of middle-class people." The only entity that "takes" money from the middle class -- or any class for that matter -- is the Internal Revenue Service. Other than that, there is nothing to give back.

And who knew we needed such a drastic renovation of an economic philosophy we've adhered to these past 25 years (yes, counting Bill Clinton's comparatively fiscally conservative record)? Despite a recent downturn and with all the serious tribulations we face, Americans have just lived through perhaps the most prosperous and peaceful era human beings ever have enjoyed.

From 1982 until now, every arrow on nearly every economic growth chart -- every health care chart, every chart that matters -- points in one general direction, and that's up.

Obama, who, it seems, is running not only for president but also for national baby sitter/accountant/daddy/icon, ignores this success and claims he can "invest" (will that euphemism ever go away?) and disperse your money more efficiently, smartly and fairly than you can. How could any American accept the absurdity of that position?

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Promises of Redistribution and Spread the Wealth