This'n'That; November 7th[Stocks;401-k;Wlth Re-dist]

Stock Ownership When Ronald Reagan was elected, less than 20% of the voters owned individual stocks. When George Bush was re-elected over two-thirds of the voters were stock holders. PEBO Answer More Correct Than We Realized When "Joe the Plumber" asked Obama about his tax proposals, the candidate revealed that he was in favor of "redristribution of wealth." PEBO now intends to have an active hand in Congressional fiscal policy, even before he takes over the reins of government. He has expressed his desires for another stimulus and what that package should look like. PEBO wants the package to total at least $175 Billion. The spending should be on roads, bridges and aid to financially strapped states. e also wants a rebate of $500 for individuals, $1,000 for families and a new $3,000 credit for employers for each new job created. Statistics show that each new job costs $20-35,000 to create !!! Lotsa fallacies in this latest PEBO proposal: The previous rebate to taxpayers didn't stimulate the economy as expected. Most rebate money ended up in savings; the only "stimulating" funds were used to pay down credit card debt, not spent at Walmart. Any rebate, by definition [to return a portion of a sum paid] indicates that the American taxpayer is overtaxed/the product is over-priced !!! The far better action is a tax cut involving ALL TAXPAYERS. The previous rebate was paid to practically anyone who had earned income, even those who are partial WELFARE RATS. These rebates can be equated to the restaurant that forces it's wait-staff to pool their tips. The staff puts their daily tips "into a jug" and the total is split evenly by the whole staff at the end of the week. Both tip-pooling and rebates reward poor service/ behavior/planning. The PEBO proposed stinulus package does very little beyond rewarding poor performance/planning. The states that will qualify for aid are those whose fiscal policies allow them to spend themselves into a hole and wait for someone to bail them out, WITH SOMEONE ELSE'S MONEY !!! Speaking Of "Redistribution Of Wealth," Are 401-k Accounts In Peril ? Looks to me like the new adminitration and the Democrat controlled Congress are gonna turn left into socialism. Americans have about $3 TRILLION invested in individual 401-k accounts. Deposits to these accounts generate $80 Billion in tax breaks via pre-tax dollars. George Miller, D-Ca [Chairman, House Education and Labor Committee] and Jim McDermott, D-Wa [Chairman, Subcommittee on Income Security and Family Support] are looking into redirecting those tax breaks into a new system of guaranteed retirement accounts to which ALL workers would be OBLIGED to contribute [Isn't this what Social Security is ??]. Recently a House Democrat Subcommittee listened to Teresa Ghilarducci [Professor, New School of Social Research] expound on her idea to elimimate the preferential tax treatment of 401-k's. She wants the government to put ALL funds from 401-k accounts into government created "guaranteed retirement accounts." Each worker would have his/her own guaranteed account. The government would deposit $600 [indexed to inflation] annually into each account. Each worker could deposit up to 5% of earned income per year. The government would pay a DISMAL 3% annual return. I'm sure that when the socialists confiscate the funds from your 401-k, you'll not get your full value. With "redistribution of wealth" there'll probably be a formula that will give the greater portion of YOUR FUNDS to those slugs who have less or no money in their retirement accounts. GAWD !!! Look at the horrible financial condition of the Social Security system.... and the government thiks it can do better with these newly created retirement accounts ? BULLSHIT [oops.... I meant bovine fecal matter, honest] !!! Foreign Precedent For Stealing Retirement Funds A socialist government has no greater destructive affect on it's workers, nor greater control over them, than to steal their retirement savings. The Argentinian government recently announced that they would propose that their Congress nationalize the Pension and Retirement Plan Administration [similar to US' mutual funds]. The plan administration manages millions of Argentinians' retirement funds which under the proposal, would go to the government. I suspect the primary reason for the proposal is a short-term cash infusion to the federal treasury. Some PEBO Transition Team Members Some names mentioned are "The Sage of Omaha-Warren Buffet, Michigan Governor Jennifer Granholm, former Clinton Administration lackies, Robert Reich, Robert Rubin, Lawrence Summers Mister Buffett is a legend in the world of investment and money management. He has an uncanny intuition for finding value investments and highly successful financial and personnel managers. Michigan Governor Jennifer Granholm is a suspect choice at best. When Ms Granholm took office in January, 2003, the state's unemployment rate was 6.7%. Today the estimated state unemployment rate is 8.7%. Mr Reich first became acquainted with "Slick Willie" when they both were Rhodes Scholars. After graduation from Yale Law, he became the ass't solicitor general in the Justice Department, serving from 1974-76. Other positions he's held: Federal Trade Commission, 1976-81; Director of Policy Planning. Kennedy School of Government, 1981-92; Professor Secretary of Labor, 1993-96; He's considered by many to be a neoliberal [a blending of traditional liberal concerns for social justive with an emphasis on economic growth]. This mindset should put him in good sted with PEBO; socialism+economic savvy. The other Clinton lackey, Mr Rubin, was a major supporter of legislation to break down the barriers between banking, insurance and securities. This bill, the very same that PEBO attacked during the campaign, is entitled: Gramm-Leach-Bliley Act, BreakingDown Walls Between Banking, Insurance, And Securities Firms Erected By Depression-Era Glass-Steagall Act [WHEW!!! Thatsa mouthful!!]. Aside from Mr Rubin, several PEBO advisors supported this bill: ^^Senator Joe Biden-VP Elect ^^Lawrence Summers [Clinton Treasury Sec'y; 1999-2001]-PEBO Economic Advisor. Secretary Summers, welcoming observers of the bill signing ceremony: "Let me welcome you all here today for the signing of this historic legislation. With this bill, the American financial system takes a major step forward towards the 21st century, on that will benefit American consumers, business, and the national economy for many years to come." ^^Gene Sperling [Deputy Dir., National Economic Council-1993-96; Dir., National Economic Council-1996-2000]-PEBO Economic Advisor. Mr Sperling also served as Hillary Clinton's Economic Advisor. Can anyone see the hypocrisy here? PEBO has enlisted the aid of the same minds that served "Slick Willie's" interests in crafting and promoting the very bill that led to the current economic "meltdown!!!" Buffalo Bills Payroll It's been some time since I was last a Bills fan. I left the fold during the Jim Kelley era. I just got sick of seeing Kelley on the Monday Evening News Shows. Each time the Bills won-it was all about Kelley, how he had accomplished the victory almost single-handedly. When the Bills lost-there's was practically no end to those players who failed to perform, in Kelley's opinion. This season I've risen in devotion to that of an apathetic fan. I can take'em or leave'em, watching if the game isn't blacked out-if it is... whatta hey...... The salary figures of these few players include the entirety of any and all bonus monies, no matter what year they have been or will be, paid: Evans, Lee Wide Receiver $11,818,812 Schobel, Aaron Defensive End $7,156,889 McKelvin, Leodis Corner Back $6,888,750 Those are the top three paid players. The list is in neumerical-dollar amount order and contains 56 active players. One has to go w-a-y down the list to get to the quarterbacks [Losman-#13; Edwards-#35; Baker-#56] . Losman, Jonathan Paul Qtrback $3,330,480 Edwards, Trent Qtrback $624,440 Baker, Matt Qtrback $297,520 NY Mayor To Fit Right In With "Redistribution Of Wealth" Bloomberg, in an attempt to save money is redistributing wealth from the city's residents and commuters to the city's coffers. He's warned of tax hikes, eliminating jobs and considering eliminating two pieces of property tax relief for homeowners. Some of the fees increased: Red Carpet Events. They cause hassles that include taking over sidewalks, laying down the carpet, blocking off a media area, connecting a power generator and pitching a tent outside. Depending on the size of the event, the city charges up to $5,000. The highest fee, for an event where thousands of people are expected on the street, would now be $24,000. City Hall also plans to increase oversize truck permits from $25 to $35. Street parking will increase in parts of Manhattan, south of 60th Street. Currently, most meters charge $1 per hour. This will increase to $2 per hour. Til Nex'time.........