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Monday, February 23, 2009

More fall out of the Obama Administration

For those of you who thought he was going to make a Change right away -- you were right, AND wrong ... look, the dow is down again today ... right now, by -175.06 points, only trading at 7190 .... yuck.

So what's doing this? Obama's plan on nationalizing at least some of the banks, well partially nationalize them. I think I heard they want 40% of Citibank or Wells-Fargo.

Also it is concern over where the taxes are going to come from. He wants to cut the deficit from $1.3T to $533B by 2013 (gee look just around re-election time, hmm).

How will he do this? Why by making the following changes:

Income Earners__Percentage of tax burden paid
*************** __*****************
Top 1%________39%
Top 5%________59%
Top 10%________70%
Top 50%________95%
Bottom 50%______3.07%

Also, as if these changes aren't enought to hurt the pocket book -- in the stimulus plan that will force part-time employers to hold 'unemployment insurance' for their part-time workers -- in MN they have to do this already, and yes it does cost the most %-wise on the income:outgo ratio to the smaller businesses in the state - in fact several businesses had to close because they could not compete with the larger stores like Target, Walmart, Kmart, Rainbow (Roundys), Cub Foods, or any of the other massive part-time employers ... not that they are bad businesses, not by any means, but just that it is easier for them to swallow up the cost than say Robert & Mary Fretag who own a small corner store in Gheen - or Bill & Sue operating the car wash near the interstate with 50 PT workers. You know what I mean??

He will "Change" the nation by destroying it and building it in the Union's image.

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