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Beware The Hidden "Tax" on Working Families

Posted by Ed Martin on Tuesday, November 04, 2008 12:46:36 PM
 www.edmartinonline.com  

It’s absolutely amazing how Barack Obama has snookered the American people, especially one fifth of conservatives if you believe the polls, into believing he will cut taxes for 95% of the American people.    It’s a wonderful promise especially in light of the huge spending increases he needs to implement to pay for his plethora of new handouts.

Few in the media or politics have been able to figure out where the money is going to come from.   Face it; it’s going to come from us and a variety of ways that will not be offset by the puny tax cut he has promised.

Brace yourself for significantly higher energy prices as Obama’s carbon assessments on domestic power production will that will result in huge utility bill increases and new gas taxes that will push the price of a gallon back above $4.00.    These huge energy increases coupled with new business taxes will increase the cost of everything you buy to live on.

Inflation is cruelest tax, especially on the working middle class who do not qualify for the handout programs.   This is how America’s middle class will be squeezed by President Obama.   But, enough of us were snookered into thinking he’s a tax cutter.

As inflation escalates during an Obama Presidency, so will interest rates and as all this plays out more and more Americans will lose jobs as businesses move elsewhere or just close their doors and give up.     Now Obama will blame Bush even though Bush will be gone and has had nothing to do with his wild scheme.    

Just as the trickle down economics of the Reagan era resulted in great job creation and economic expansion that lifted America out of the morass of the Carter presidency, the same principle will mean the tax hikes focused on business and investors will trickle down into the cost of everything you need to live.     We have seen this before and while it may sound good to those who do not understand economics, the ultimate victims will be all those who thought Obama’s change was going to be good as opposed to a change to policies tried and failed.

But they say America gets the government we deserve and if a majority has not taken the time to learn the lessons of history or understand how the economy really works, then strap yourself in for we are all going to go on ride.

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William Ayers IS about the Economy

Posted by Ed Martin on Sunday, October 12, 2008 9:11:44 AM
 www.edmartinonline.com  

   The noise and lazy manipulated coverage by the conventional media of this year’s Presidential race has obfuscated the real choice America has as well as the true relevance of William Ayers to our collective economic future.    As Obama’s parrot mouthed operatives work print and electronic journalists aggressively to shift media focus away from Ayers and to the economy what they do not realize is that if this election is truly about the future of our economy, McCain wins.

   At no time has an election been more important than this time. America’s choice is the path toward socialism or the path that maintains capitalism, free markets, trade, ingenuity, and opportunity. The still camouflaged change that Barack Obama says we need can only be understood by understanding this man, his record, advisors, associates and past.    This is clearly what the stock market sees and in anticipation of an Obama Administration with a Congress led by Nancy Pelosi and fillibuster proof Senate by Harry Reid, America’s economic engine is positioning itself for what will come.

   The 10/13/08 Investors Business Daily editorial entitled Investors’ Real Fear: A Socialist Tsunami sums this point up this way: 

“…right now, the US, which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible.”

   American markets are scared and the ripple is being felt around the world. The socialist redistribution of wealth sought for years by the likes of William Ayers, Bernardine Dohrn, Jeremiah Wright, Malcolm X, and Louis Farrakhan's Nation of Islam may soon become a reality if the electorate in fact buys this wolf in sheep’s clothing, President Barack Obama.

    Poll based media coverage will tell you this race is over.   Working to make sure our democracy works to their satisfaction community organizers like those with Acorn are registering more voters in certain precincts than there are people.   What about the truth police in St, Louis who would like to prosecute those who they claim are not accurate in their depictions of our next President, Obama, or the video of the school children singing songs heralding the Great One.   It makes one wonder if we are in Beijing or in America.

   We are certainly being given a rare glimpse of the change Obama says we need.   It’s the same change long advocated by William Ayers, the SDS, the Weather Underground, and all those other radical groups that most young voters have never heard of.   But the pied piper keeps on playing and nobody is listening to the old man who was tortured defending this country.    Yes William Ayers is relevant to the economy and we had clearly better understand that the smart money on Wall Street has headed for the hills because it has lost confidence in America’s ability to make an intelligent choice.
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AIG = American Irresponsible Greed

Posted by Ed Martin on Friday, September 19, 2008 10:28:19 PM
 
Now that the Federal Reserve has opted to put the American taxpayer on the line to stabilize the failing American International Group in an attempt to calm the global meltdown of the investment banking sector, we had better all focus on the factors that have contributed to this latest economic challenge.

Greed is something that has been with us throughout the ages.   The more we have the more we want.   This is not new and certainly not something to be blamed on Bush or Clinton or anyone else.   It’s human nature manifested at all levels form welfare cheats to investment bankers in suits and hedge fund managers.

Sometimes in the simplistic we find the greatest wisdom. One does not build a house without first having a sound foundation. This applies in business as well and small business people understand fiscal responsibility in ways that perhaps the eager and self pumped generation of MBA’s do not.    But it is the eager egotists who seem to secure these positions on Wall Street and it makes one question why we don’t listen more to the wisdom of the elders, not to absolve them from tendencies of greed for they too can be compromised.

Does anybody care about the greater good anymore?   Imagine if you could buy thirty dollars worth of goods for every dollar you earned.   What a bonanza you would have and think of all the job you could create by just buying things.   On Wall Street the norm for the leveraging of hard assets is 30 to 1.    Lehman Brothers had actually cut their leveraging rate to about 25 to 1.

The MBA geniuses have figured out how to make money from thin air, buying paper, backed by paper that is backed by paper and more paper.   The paper trail is sickening and extremely challenging for any regulator to understand especially when you have dinner reservation at the Palm encroaching.

This current wave of market correction was triggered by the mortgage crises triggered by people buying homes they had no business buying given their assets and income, lenders making it possible for them to do it, the use of those mortgages to collateralize other purchases by the lenders, those purchases being used to leverage others, and of course somebody to insure this house of cards. 

Mortgage brokers, real estate agents, bankers, investment houses all made a killing. They paid taxes and everyone was happy.   Grab the Moet its time for a party.

Well, today we have a hangover and unfortunately we have no one to blame but ourselves. So perhaps it is fitting that the American taxpayer will now own AIG.
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