America’s Emails Crash the House Email Server

September 30, 2008

I thought I would take the advice of Dave Ramsey and forward his economic plan to my representatives and I discovered this:

Main Street Crashes House Email Server!

Main Street Crashes House Email Server!

American’s are letting their voice be heard on this issue and it is a good thing because it reminds our politicians who they work for.

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Dave Ramsey’s “Common Sense Fix” to the Nation’s Economic Woes

September 30, 2008

I think Dave Ramsey is on to something with his ideas. They reflect what we, the Main Street Americans, need and not what the politicians want to get reelected. He has been advertising this plan on his website and encouraging his listeners and website visitors to send the plan to everyone they know and to their representatives in Washington D.C. A grassroots effort like this is exactly what we need to get our voice heard.

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The Common Sense Fix

-Dave Ramsey


Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three step Common Sense Plan.
I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two things:
1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower—again limiting foreclosures and ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.
c. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down.

This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to stand up, speak out, and fix this mess.


Wall Street Bail Out Fails to Pass!

September 29, 2008

Today was a good day for democracy. When the bail out deal was announced the American people finally had had enough. Americans took to their phones and email accounts and bombarded Congress with calls and letters saying “NO WAY!” I have been listening to the radio and reading the news, doing my best to follow this issue. I know there are economic factors at stake that are beyond my grasp, but I think that the common sense of the every day American won a great victory here.

Most people understand that if you do something stupid, you pay for it. Over the past few weeks the government has been using the tax dollars of Americans to pay for blatant stupidity. There seems to be some sentiment among Americans that even if not passing this bail out leads to some tough times that we will all be better off in the long run. Why? Because people will learn that stupidity and outright greed will not be rewarded.

I expect the government to go back to the drawing board to try and come up with some other type of bail out plan to rescue the economy, but I think they are completely missing what we really need to stabilize the economy. I agree with Mike Huckabee that the best way to fix the economy is to dramatically cut taxes on investing. Imagine if the taxes on investing were completely eliminated, money would pour into the American markets and more people would be encouraged to invest.

Washington only knows how to spend our money. They think that they can spend their way out of this mess, when what America really needs is more incentive to invest. Hopefully, the defeat of this bill will help them to realize that Americans don’t want to see stupidity rewarded.

On a side note: isn’t it funny that the Democrats, who claim to stand for “the little guy”  seem intent to pass this bail out that will cost every single little guy thousands of dollars while rescuing big business?


Mike Huckabee Lambasts Republicans for Their Consideration of Wall Street Bail Out

September 24, 2008

Mike Huckabee today released a statement about the idiocy going on in both parties as they work with Wall Street to strap the American tax payer with hundreds of billions of dollars in bail out monies. Huckabee shows here that he is not merely Republical talking head by calling this bail out what it is: stupid. He also offers up some ideas to help get us out of this mess without charging the tax payers for the stupidity of Wall Street.

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Bailing on Our Principles

Today at 12:14pm

by Governor Mike Huckabee

Frankly, I’m disappointed and disgusted with my own Republican party as I watch them attempt to strong-arm a bailout of some of America’s biggest corporations by asking the taxpayers to suck up the staggering results of the hubris, greed, and arrogance of those who sought to make a quick buck by throwing the dice. They lost, but want the rest of us to cover their bets so they won’t be effected in their lavish lifestyles as they figure out how to spend their tens of millions and in some cases, hundreds of millions in bonuses and compensation which was their reward for not only sinking their companies, but basically doing the same to the entire American economy.

It’s especially disconcerting to see the very people who pilloried me during the Presidential campaign for being a “populist” and not “understanding Wall Street” to now line up like thirsty dogs at the Washington, D. C. water dish, otherwise known as Congress, and plead for help. I thought these guys were the smartest people in America! I thought that taxpayers like you and I were similar to the people at the U. N. who have no translator speaking into their headset – that we just needed to trust those that I called the power bunch in the “Wall Street to Washington axis of power.”

The idea of a government bailout in which we’d entrust $700 billion to one man without Congressional oversight or accountability is absurd. My party or not, that is insanity and I believe unconstitutional.

Will there be far-reaching consequences without some intervention? Probably, but we honestly don’t know since we’ve really never seen this level of greed and stupidity all rolled into one massive move. But may I suggest that letting “Uncle Sugar” step in and bail out the billionaires who made the mess will be far worse and will start a long line of companies and individuals who will demand the same of the government—which last time I checked means that they will be demanding it out of YOU and ME. This is not money that Congress is risking from THEIR pockets or future, but ours. Many if not most of us have already experienced lost value on our homes, retirement accounts, and pensions. Now they’d like for us to assume some further risks so they won’t have to.

What happened to the “free market” idea? Is that only our view when we WIN and when we LOSE, we ask the government to come in and take away the pain?

If you are a small business owner, is this the way it works at your place? When you have a bad month, a bad year, or face having to close, can you go up to Congress and get them to write YOU a fat check to take away your risk?

Some of what contributed to this disaster is too much government in the form of Sarbanes/Oxley. Some is due to the tax structure that created the hunger for companies to “game” the system. Some is the common sense that was ignored like loaning money to people who can’t pay it back.

Wall Street has become Las Vegas east, but at least in Vegas, people KNOW they are gambling and they don’t expect the government to cover their losses at the tables. In Wall Street, they do. And the American taxpayer burdens the responsibility.

If Congress wants to do something, here are some suggestions:

1. Eliminate ALL capital gains taxes and taxes on savings and dividends right now. Free up the capital and encourage investment. This is the kind of economic stimulus the Fair Tax would bring and if Congress is going to lose money, let them lose it with lower taxes, not with public dollar bailouts of private market mistakes.

2. Repeal Sarbanes/Oxley. It has failed. It was supposed to prevent this. It didn’t. Kill it.

3. Demand that the executives who steered their ships into the ground be forced to pay back the losses of their companies. Of course, they can’t, so let them work and give back to the government and they can live like the people they put on the streets or kept there. It makes no sense to put them in jail—that’s just more they will cost you and me. I’d rather them go out and earn money—just not get to keep so much of it this time. I’m not talking about limiting CEO salaries—just those of the people who now are up in Washington begging for help because they ruined their companies.

Attempts by Democrats and Republicans to blame each other is nonsense. They are both guilty and ought to own up and admit it. They all lived off big campaign contributions and the swill of the lobbyists who strong armed them into permission to steal. Enough of blame. Fix it!
This would be a start. If we don’t hold these guys responsible, we are all finished.


Gas Tax Fever!

May 5, 2008

I never thought I would say this…Obama is right on this issue. A temporary reprieve from the federal gas tax is pure folly.  The Tax Policy Center states that the average American would save LESS THAN $28 over the course of gas tax holiday.

This is pure political pandering. The news media has us convinced that we are (a.) in a recession, and (b.) the rise in gas prices is catastrophic and will single handedly destroy us all and bring about the end of the world (I am exaggerating. Slightly).

First, we are not in a recession. The economy is still growing, it is not “receding.” It is growing at a slower pace than it has in the past five or six years, but it STILL GROWING!

Second, the rise in gas prices has hit us so hard because we are unwilling to change our lifestyles to make up the difference. Let’s say you buy a 16oz latte every day for $3.59. That figures out to $.22/oz, and $28.16/gal. Hmm, I think it’s time to cut out the latte and brew your own coffee at home.

We are unwilling to cut out the conveniences in our lives to pay for the necessities. We don’t want to give up our movies, video games, cable TV, big cars, and vacations in order to pay for the extra gas. It is time for Americans to grow up and quit whining for the government to come and fix every little thing that comes along and makes us feel uncomfortable.

How did my wife and I deal with rising gas prices? We sold my (paid for) truck and bought (with the cash from the paid for truck) a used, low mileage, sub-compact. Was this fun for me? Nope, I have always driven trucks and I enjoy driving something a little big bigger that has the extra utility a truck offers. However, we decided that spending $30/fill up on the car would be a lot easier on our limited income than the nearly $60/fill up the truck required. By changing just that one aspect of our lifestyle we were able to dramatically cut the amount of money we spend on gas.

Instead of relying on Hillary Clinton or John McCain to come and fix your inability to manage your finances or your unwillingness to cut some un-necessities out of your lifestyle, do it yourself. It’s time to wake up, America, and stop being stupid.


Back in Action

April 30, 2008

I have mourned the exit of Governor Mike Huckabee from presidential politics for nearly two months now. While I wouldn’t say I have moved on, as I am still following Huckabee closely, waiting for any hints at future run for office; I have decided that it is time to start working towards getting/keeping conservatives in Washington.

I personally have decided to support John McCain for President, unless a worthy third party candidate arises. My decision is based on a few main points: he does not aspire to universal health care, he wants to keep the Bush tax cuts permanent (if the democrats let these expire they will effectively be raising taxes on everyone in America, not just the rich), he believes in a very strong military and will support the military, he is a strong proponent of cutting government spending.

Whether or not he will hold to those views if elected remains to be seen, but right now he is a far better option than either of Democrats. He is far from my first choice for office, but he can do the job better than the current competition.

I have also recently been contacted by the Oklahoma Senator Jim Inhofe campaign. They asked me if I wanted to blog for him, I agreed. I have had the privilege of meeting and eating lunch with Sen. Inhofe and I believe that the man has his head on straight. He is a good representative of Oklahoma’s conservative values, so I hope that by blogging against liberals and for conservatives, I will be a small help to his campaign.

So, the battle for the votes of those living on Main Street America continues. The question is, will Americans support big government liberals and Republicans who spend like “John Edwards in a beauty salon?” (Mike Huckabee) Or will we elect people with true conservative values (which does not necessarily mean they are Republican)?


Huckabee on Fair Tax at FL Debate

January 25, 2008