Showing posts with label spending. Show all posts
Showing posts with label spending. Show all posts

Friday, March 27, 2009

Video:Conservative MEP Daniel Hannan attacks Gordon Brown -the devalued Prime Minister of a devalued government




Prime Minister, I see you’ve already mastered the essential craft of this Parliament – that being to say one thing in this chamber, and a very different thing to your home electorate. You’ve spoken here about free trade, and amen to that; who would have guessed, listening to you just now, that you were the author of the phrase ‘British Jobs for British Workers’, and that you have subsidised - where you have not nationalised outright - swathes of our economy, including the car industry and many of the banks.

Perhaps you would have more moral authority in this house if your actions matched your words. Perhaps you would have more legitimacy in the councils of the world if the United Kingdom were not going into this recession in the worst condition of any G20 country.

The truth, Prime Minister, is that you have run out of our money. The country as a whole is now in negative equity. Every British child is born owing around £20,000. Servicing the interest on that debt is going to cost more than educating the child.
Now once again today you tried to spread the blame around, you spoke about an international recession; an international crisis. Well, it is true that we are all sailing together into the squall – but not every vessel in the convoy is in the same dilapidated condition. Other ships used the good years to caulk their hulls and clear up their rigging – in other words, to pay off debt – but you used the good years to raise borrowing yet further. As a consequence, under your captaincy, our hull is pressed deep into the water line, under the accumulated weight of your debt. We are now running a deficit that touches almost 10% of GDP – an unbelievable figure. More than Pakistan, more than Hungary – countries where the IMF has already been called in.

Now, it’s not that you’re not apologising - like everyone else, I’ve long accepted that you’re pathologically incapable of accepting responsibility for these things these things - it’s that you’re carrying on, wilfully worsening the situation, wantonly spending what little we have left. Last year, in the last twelve months, 125,000 private sector jobs have been lost – and yet you’ve created 30,000 public sector jobs. Prime Minister you cannot go on forever squeezing the productive bit of the economy in order to fund an unprecedented engorging of the unproductive bit.

You cannot spend your way out of recession or borrow your way out of debt. And when you repeat, in that wooden and perfunctory way, that our situation is better than others, that we’re well place to weather the storm, I have to tell you, you sound like a Brezhnev-era Apparatchik giving the party line. You know, and we know, and you know that we know that it’s nonsense. Everyone knows that Britain is the worst placed to go into these hard times. The IMF has said so. The European Commission has said so. The markets have said so, which is why our currency has devalued by 30% – and soon the voters, too, will get their chance to say so.

They can see what the markets have already seen: that you are a devalued Prime Minister, of a devalued Government.

Friday, October 24, 2008

Obama Tax Plan- Calculations Do Not Add Up (Voters Misled)

The UnionLeader.com publishes a forensic article -on Obama's tax proposals-titled "It doesn't compute: Obama's tax plan a ruse". Here are some excerpts:
..."According to the plan, "his tax relief for middle-class families is larger than the revenue raised by his tax changes for families over $250,000." That sounds like he's giving a net tax cut. But much of what he calls "tax cuts" are actually cash payments to low- and middle-income Americans. Ultimately, he sends out of Washington hundreds of billions of dollars more than it takes in..."

"....The bottom line is that Obama is not being honest about his tax and spending plans. It is impossible -- impossible! -- for him to finance his giveaways by taxing only those making $250,000 or more. He will have to raise taxes substantially on people making much, much less than that.."

Take particular note of this readers comment:
"Most small business owners file their taxes as individuals, not as businesses. When asked whether the $250,000 amount was 'net' or 'gross' income, the Obama spokesperson responded "gross". Therefore, any Joe-the-Plumber who has 6 employees and who, along with them, draws a $35,000 salary, will find himself with a significant tax increase.What's his option? Lower salaries? Cut an employee?Obama's tax plan is downright stupid, particularly in this environment.And as for his 95% getting a tax break, two pesky items to point out:First, 40% pay NO federal income taxes at all, so 40% will be getting a welfare check at the expense of the other 60%.

Second, EVERYONE who pays taxes at all will see them increased because the Bush tax cuts will be tossed.In so many ways, Obama would be a disaster for the USA.Therefore, while I am no cheerleading fan of McCain's, he is the one for whom my family is voting. Once again, the lesser of two evils. Much lesser.- Pamela Valentine, Washington NH

The full article is compulsive reading for all voters. Be afraid; be terribly afraid of Obama's tax proposals.

Obama's $600 Million Campaign Spending Obscene (No Criticism From Liberals)

It is get Sarah Palin time once more. The Republican National Committee has bought Alaska Gov. Sarah Palin and her family nearly $150,000 worth of clothing since September. As usual the Democrats and the hypocritical liberal media are in full cry in an effort to destroy Palin. She has been accused of hypocrisy. This is a storm in a teacup. After the election the clothes will be donated to charity.

Now lets look at the real hypocrites. Barack Obama is spending 600 million dollars on his campaign to win the presidential election. Not one word of criticism from any one in the Democratic Party. The Gestapo liberal media sweeps this obscenity under the carpet. Talk about angels with dirty faces. Uproar over $150,000, silence about the $600 million.

This is an effort by the Democrats and their allies to shift the attention away from Obama's plans to increase Welfare and redistribute the wealth

Monday, October 6, 2008

Obama cannot deliver tax cuts to middle class (Sums do not add up)

Already Barack Obama has made promises totalling 1,000 billion dollars. In addition the bailout just agreed will cost an extra 700 billion dollars. Now he promises substantial tax cuts for the middle class. Quite simply these cannot be funded with an overhang of 1,700 billion dollars. This is political smoke and mirrors-loony bin economics. Such an economic policy will produce economic Armageddon.

Tax cuts can only be introduced by a freeze on government spending. Such a freeze would make resources available to fund such tax cuts. This is the McCain approach. McCain has advocated a freeze (excluding military spending). He has promised a war on waste and pork barrel spending. He has a strong track record in opposing pork barrel spending. Obama on the contrary has been a strong proponent of pork barrel spending and has voted for 94 tax increases.

When challenged on a public expenditure freeze-in the first debate-Obama ran for cover and fudged the issue.
Obama’s plans to double the capital gains tax is a further ingredient in the current instability. The likelihood of an Obama victory could trigger a further massive sell off on the stock market as investors seek to avoid higher capital gains tax rates.


Wednesday, June 11, 2008

Obama's Spending Plans involve a smash and grab raid on American Taxpayers

Many voters are besotted with the rhetoric, oomph and personality of Barack Obama. All this comes with a price tag. Unfortunately most of his supporters have failed to delve into the specifics of his taxation policy.
Obama’s taxation policies are a mirror image of the failed taxation policies of the French and Swedish Socialist parties.

He has promised to raise the capital gains tax from the current 15% to 28%. This is a recipe for disaster. Lower rates of capital gains tax bring in higher revenue yields. Reganomics proved the veracity of this statement.
Obama’s capital gains tax increase will hit 100 million American tax payers. Investors are likely to move in advance of an Obama Presidency- to sell shares. This may trigger a stock market crash.

He is a strong believer in higher Government spending. His promises so far amount to $800 billion over four years.

He intends to allow the 2001 and 2003 Bush tax cuts to expire in 2010. This will raise taxes on millions of Americans by many billions of dollars.

He intends to tamper with the $102,000 FICA payroll tax cap. A President Obama will ensure that anyone making over $102,000 will pay an additional 7% in taxes on earned income.
He also intends to target the loan dividend tax rate implemented by George Bush.

Obama’s rhetoric may hypnotise many voters but his taxation policies leave a sour taste. He is on the extreme left of the Democratic Party and is no more than a tax and spend liberal. He is the darling of the Democratic Socialists of America .This group was formed from an amalgamation of Trotskyites, Communists and extreme left elements.

Wednesday, June 4, 2008

New Orleans Speech:McCain outlines his vision for the future and proves that he is the real candidate for change

Bobby Jindal in his introductory speech was effusive in his praise of McCain.

In a wide-ranging and skilfully constructed speech tonight, John McCain outlined his blueprint for change. This would involve huge support for renewable energy, education reform, stringent curbs on wasteful expenditure, reduced taxes and a strong military. He would work with Republicans and Democrats alike to increase the prosperity of the country.

He opened by paying tribute to Hillary Clinton and made a strong play for disaffected Clinton voters.
He skilfully outlined his differences with the Bush administration on the war in Iraq, federal spending, emergency aid and the environment.

He stressed that he believed in change for the future-the right type of change whereas Obama believed in the wrong type of change- a change to the failed policies of the past.
He emphasized his determination to ruthlessly prune wasteful Government spending. He explained how he had opposed the Bush administration and Democrats on escalating federal expenditure. He strongly opposed Big Government; in contrast Obama continuously voted for ever increasing Government expenditure. Obama has the most liberal voting record of any senator in the country.

He explained how Obama would increase taxes on the old, those who invest in the stock market and on families.


McCain outlined how he had put the country before party whereas Obama had failed to take on special interests within the Democratic Party. McCain had opposed corruption in both parties.

He outlined the dangers posed by Obama's lack of foreign policy experience. He described how Obama had voted to deny funds to the soldiers in Iraq. How he had failed to travel to Iraq. He stated that the course advocated by Obama would draw the US into a wider war.
He criticised Obama’s promises to row back on free trade. Such a misguided policy would not restore lost jobs. It was pointless offering false hope to workers.

McCain has made a good start to his campaign.