GOP @ it Again, don't get Fooled

Don’t Get Fooled Again

In review you now have 5 stocks.  Consolidated Edison Inc. (ED) or another utility, Kraft Foods Inc. (KFT) or another food stock, Eaton Corp (ETN) or another industrial stock, and U.S. Bancorp (USB) or some other financial (Bank) stock of choice.  Last pick was an oil or gas my recommendation was Chevron Corp (CVX) but any oil sector stock would do.  Remember you can own any stock in the sector not the one I recommend.

The GOP is at it again.  As the lyrics of The Who song says; “Just like yesterday. And I'll get on my knees and pray.  We don't get fooled again.  Don't get fooled again.”  “Change it had to come…. There's nothing in the street.  Looks any different to me…. Meet the new boss.  Same as the old boss.”  Romney’s tax plan is another look at Bush’s tax plan, in simple language a welfare plan for millionaires.  Because Governor Romney has not specified how he would increase the tax base, it is impossible to determine how the plan would affect federal tax revenues or the distribution of the tax burden.  Currently Apple pays 3% taxes in the state of California, do they really need to pay less taxes?  http://www.youtube.com/watch?v=8b1g07uq4y8

 “Romney’s tax plan would Romney’s tax cuts would predominantly favor upper-income taxpayers. Those earning more than $1 million would see their after-tax income increased the most, by 8.3 per cent.”  Those making less than $75,000 a year would see their taxes increased.  http://www.nytimes.com/2012/08/02/us/politics/romney-like-plan-would-tax-lower-income-households.html  “A tax system overhaul along the lines that Mitt Romney has proposed would give big tax cuts to high-income households and increase the tax burden on middle- and lower-income households, according to an analysis from economists at the Tax Policy Center.”  http://www.taxpolicycenter.org/

“As a result, middle- and lower-income households — the 95 percent of the population earning less than about $200,000 annually — would have to make up the difference, according to the review by the center, which is affiliated with the Brookings Institution.”  It's just about making our tax code more fair and making our tax code more helpful to the middle class, which is the backbone of our country and backbone of economic security and economic growth in our country.  Not about give away welfare programs to the über-rich Mr. Romney!  I worked for a millionaire as his accountant once.  He did not pay the taxes owed because he knew what would get him audited and what he could pad the company expenses with making personal expenses business expenses.  His kids had trust funds and created no jobs.  The GOP tax plan is all about keeping the idle rich idle and rich, not about jobs.  Without a strong middle class who spend all their income no one will create jobs.  You see when you start a business you want to invest your money to make more, taxes do not play a role in the decision.  As the middle class is being lowered less jobs are created since the middle class not the rich are the backbone of the economy and what we owe our prosperity to.

Why hasn’t Romney released his taxes.  Because his taxes are an embarsement.  Just like the tea party.  Where was the Tea Party when Bush had 2 unbudged and unpaid for wars and spent the county into the debt problem in the first place?  Since the GOP was in they did not care!  Romney has tricks at his disposal to avoid paying taxes. He has exploited many of these loopholes, stashing his money in secret, overseas accounts in places like Switzerland and the Cayman Islands.  His taxes are an embracement Romney is hiding something.

Trickle-down economics are good only for the über-rich, it is not good for you and me.  Mitt will promise to perform miracles with the economy that is what the GOP has been doing since time immemorial; they can usually do it for a while, or at least appear to have done it.  They have inevitable brought losses to the general public (everyone below the top 3%).  Their administrations are usually accompanied by flagrant manipulation and misleading reports and politics like the tea party now.  The performance of trickle-down economic policy is a poor one.  Unless you are one of the über-rich on government welfare.  Clouded by a motherhood, flag-waving rhetoric.  Now it’s the tea party (patriotism), the Constitution (patriotism), family values (Motherhood).  Actually motherhood was the battle cry when it came to the 800 billion drug company welfare program added to Medicare the Medicare Prescription Drug, Improvement, and Modernization Act (P.L. 108–173), the GOP that talked about it said, “I love my Mother” during their speeches.  I love my Mother too; let’s just give her health insurance like every other industrial country, healthcare for the common man not healthcare for the rich. (During a visit to the Statue of Liberty my mother fell down and broke her arm.  She was flown to a hospital in New Jersey.  During that two weeks nothing was done because she had left her Blue Cross & Blue Shield insurance card at home.  She is crippled now.  My brother flew to New Jersey put her on a plane and flew her home and a week later she was operated on.  Wouldn’t have happened in Canada, to a Canadian citizen in Canada GOP!)  In Canada they refuse to pay high prices for drugs and don’t need an 800 billion giveaway program George, and I bet they love their Mothers up there too.)  http://www.youtube.com/watch?v=894XHp_NMks  http://www.youtube.com/watch?v=e8yR7KeKbSA&feature=relmfu

http://www.cnn.com/2012/08/11/opinion/brazile-romney-ryan/index.html?hpt=hp_t1

http://finance.yahoo.com/blogs/daily-ticker/paul-ryan-bold-vp-choice-romney-ryan-plan-151848665.html

http://finance.yahoo.com/blogs/daily-ticker/reagan-budget-director-paul-ryan-plan-fairy-tale-164917087.html

http://news.yahoo.com/report-taxpayers-subsidize-ceo-pay-040124133--abc-news-deals.html

http://money.msn.com/health-and-life-insurance/news.aspx?feed=AP&date=20120816&id=15456265

The Bush years proved that tax cuts for the rich don't generate a vibrant economy!  A healthy middle class is the key to job growth and a healthy economy.  The Bush tax plan is the key to a weak middle class and a recreating of the 1880’s robber barons.  Employment growth as fueled by the surrounding conditions, it's driven by the general economy.  Bush destroyed the economy, Romney is more of the same but on steroids. 

Do not vote for the GOP or the Tea Party.  They are in the process of destroying your economic future if you are one of the 97% of Americans who don’t make 250k per year.   They just don’t care about and want to tax so they can keep the rich on the government dole.  They will only make it harder for you to join the upper class with the stock market and real-estate investing from this blog.

The first Bush destroyed the economy.  He just lacked enough time to destroy it completely.

Clinton repaired the damage of the first Bush years, and was paying off the National Debt.

The second Bush wanted to complete his father’s programs and correct his father’s mistakes.  Thus a wasted war in Iraq and a destroyed economy took 8 years not four to destroy the economy with Trickle Down Economics. Plus he squandered the Clinton National Debt program to pump the economy so he could put billionaire’s on welfare.

David Stockman, who championed this theory under Reagan, has referred to the Romney plan as Paul Ryan’s fairy-tale budget plan.   http://www.nytimes.com/2012/08/14/opinion/paul-ryans-fairy-tale-budget-plan.html 

Thomas Sowell has written that the actual path of money in a private enterprise economy is quite the opposite of that claimed by people who support to the trickle-down theory.  He writes from a conservative and libertarian perspective.

Tax cuts directly targeting those with less income would be more economically simulative, than welfare to Romney’s class.  The wealth of the super-rich does not trickle down to improve the economy, but tends to be amassed and sheltered in tax havens with a negative effect on the tax bases of the home economy.  Kind of like Mitt’s tax deduction for a dancing horse?  Or, Mitt’s tax havens overseas in countries there the rich like to hide income to cheat on their taxes.

Trickle Down Economics has destroyed the economy each and every time it was tried by the same party, going as far back as the disaster in 1890.  So why vote for the programs 2 champions?  Vote for the middle class with  Obama.  And, vote out the jokers in Congress who are in the Tea Party they are blocking the recovery and destroying the economy.