I am simply amazed. In reviewing the current legislation I can not believe (well I actually can) just how bad this stuff is. It is so poorly thought out, so poorly conceived, and the outcomes will be so detrimental to our country it astonishes me that people vote for it. I have decided to summarize all this crap as “Mindless Liberalism” going forward for the convenience of my readers.
Cap and trade – folks, this is 2009, not 1978. We can not force companies to drastically cut pollution (by means of punishment not incentives) and expect them to stay in the USA – no way. If you have traveled outside the US recently, you will know that there are many countries with competitive tax structures and investment incentives that would love to take our companies and base them there – and we would end up losing LOTS of industrial jobs. For example, oil refiners – they will simply close shop here and do their work elsewhere – there will be NO CUT in pollution (maybe even worse as other countries would be more lax) but there WILL BE a CUT in US tax revenue due to lost jobs.
Buy American provisions proposed – another moronic idea coming from our genius political leaders. let’s just use common sense here for a second ok? If we prevent trade and make it more costly by imposing tariffs on imports OR by incentivizing the purchase of American products, won’t other countries reciprocate? And what will be the result? ALL parties will lose trade and things you buy cheaply now (underwear, toys, food, etc) could be 2-5xs more expensive if produced in the US under “fair labor laws” and bloated union provisions. But just as real estate writer John Reed said in one of his newsletters, this year, that’s exactly what political leaders want is to tell their union constituents that they will get them more jobs – fat chance – the economic contraction from such actions will more than offset this – though this is more than I expect someone with a polisci major in college to figure out (the lack of practical economic knowledge of those in Congress is appalling – they should all be required to run some kind of entity before entry into political office).
On taxes – as Jimmy Rogers said, we have the lowest level of investment in years, and people are afraid to invest capital and “this genius (referring to Obama) wants to tax capital.” I’m flabbergasted – here is what Congress and the President are effectively saying – “please come invest in the USA but if you do you will pay 39% corporate tax rates, plus 40%+ total income taxes and we will soon create another surplus tax to pay for our ridiculous health care ideas, of which the bill MOST OF US HAVEN’T EVEN READ THOUGH WE “SUPPORT” IT.” This is double dumb – I just can’t think of nifty words to describe it – all that comes to mind are basic words like “dumb, moronic,” and a childhood favorite, “cheesy.”
As I mentioned above, the current democratic leadership thinks this is 1978 where they can send two fat guys to go rough up opponents and get their way. Folks that isn’t gonna happen – by forcing cap and trade or restricting imports or by increasing taxes on capital and income, we will scare away those whom we need most – the creative class and the maverick entrepreneur class – the ones who innovate and those who start and build blue collar businesses. THESE ARE THE PEOPLE WHO INVEST, CREATE JOBS AND PAY TAXES. Only an idiot would scare these people away (or maybe 535 idiots). We will not get the results that proponents of this legislation want (it’s Fantasyland again) – by just forcing people to do as they wish. Many will either leave the US or simply avoid coming here (then who is going to pay for our social security deficit???).
Lastly, what also amazes me is that Americans elected this guy to get away from some of Bush’s disastrous policies in the areas especially of foreign policy, global war mongering, and the economy. As much as Bush was anathema to many liberals for some of his foolish right wings ideas, (many of his policies were quite bad) Obama and his crew in Congress are equally pathetic going in the other direction. That’s why I would term this “Mindless Liberalism.” The idea that they must hurry and pass as much of this garbage as possible while they have the ‘political capital” is MINDLESS. Why we must be subjected to their agenda and this poorly constructed legislation simply because they have to do their agenda is almost criminal. White House Chief of Staff Rahm Emanuel summed it up when they took office:
“Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before.”
This very point of doing things simply because they had the opportunity. But there was no promise what they did would be well though out. I really don’t think that the non-superliberal voters who voted for “the big O” really wanted what we have now – from talking to friends, strangers et al, many people voted on ONE issue – the war, the economy, foreign relations, gay marriage) but that is going to cost everyone until Obama goes out of office the way Bush did – on ultra low approval ratings after enjoying ultra high approval ratings in the beginning. As I’ve said to many, I think he’s Bush’s “mirror” – with Obama engaging now in Mindless Liberalism whereas Bush engaged in Mindless Autocracy. The price will be a debt load we can’t handle, inflation we can’t handle, and a much lower real quality of life for the average American.
To see a Wall Street Journal report (where they said “we looked it over and even we can’t quite believe it“) on just what Emanuel’s words have done to the country go HERE.
If you’d like to sign a petition for The Senate to scuttle Cap & Trade, go HERE.
PS FYI – I did not vote for Obama or McCain in the last election so don’t blame me when the smelly stuff all hits the fan!
PPS – this whole piece is purely my opinion -feel free to comment or write me your thoughts and I can bring them up in future articles – thanks!