Iraqi Troop Withdrawal and Small Businesses Passing on the Cost of Paying Higher Taxes to Their Customers

The Obama administration is getting ready to invest more in Citi bank.  The federal government has covered three hundred billion in risky investments at Citi bank.  Now the government is going to convert its preferred share stake in Citi to common shares. 

Preferred share investments are basically investments where the investor gets a fixed payment each month as long as he or she keeps their investment at the bank.  About the only benefit I can see for the government is that they now will have access to dividend payments if the bank recovers and succeeds.  If Citi bank fails, the government looses its investment.

John McCain and other republicans supposedly are in favor of Obama’s plan to pull out of Iraq.  John M. McHugh representative of NY, Gen David Petraeus, Gen Ray Odierno, John Boehner, representative of Ohio and republican leader in the House, among other republicans apparently have statements of support for the troop withdraw plan.  I can say that I have been saying since the summer of 2006 that it was time to leave Iraq and let the Iraqis take control of their country.

I have a great concern that the people of Iraq may not be strong enough to defend their democracy.  There is a cultural ideology of Muslim extremism, which will influence individuals to try and solidify control of Iraq.  This will definitely lead to violence and instability if the Iraqis cannot fight this attempt at taking Iraq away from the people of Iraq.

In an interview with Michael Steele, the new RNC chairman, I heard some concerning opinions.  Mr. Steele spoke about how republicans need to get back to fiscal responsibility and how a better economic plan would have been to give tax breaks to small businesses. These are good points.  However, in this last budget offered by Obama, republicans did their fair share of ear marking.

Mitt Rommey also commented on some of the problems with Obama’s economic plan.  Of course we all know that this plan means adding to the national debt. There is also concern about taxing the very same people who are necessary for economic growth.  Again, I state that taking money away from businesses and investors in taxes means they will have less to build businesses and invest.

Now, Romney mentioned that it was immoral to raises taxes on the rich to give to the poor.  Allow me the opportunity to develop this idea.  All governments are supposed to be in charge of only basic services; like garbage collection and military defense.

Obama is not God.  Therefore it is not his job to balance whatever injustice he thinks has been imposed on the poor or financially overburdened middle class by successful people. We all have the salary we have worked for in life.  A person with a 30k annual salary has to live within his or her means just like any other American.

It is not Obama’s job to give a person with a 30k salary the lifestyle of some one with a 250k salary.  That is the immoral part.  The person with a 250k salary was in no way responsible for the person with a 30k salary only being able to earn 30k.  Every one has equal access to the American economy.  Everyone can work, establish credit, buy a business, and work at making that business a success. 

Where was the drive and intelligence of the 30k salary person?  Why did they choose to be a police officer or a teacher?  If they wanted more from life, why didn’t they make different choices in life?

My goal was to at least get a 35k salary job after graduating from college.  The job market dried up and I am still a taxi driver.  Now, I am seriously considering leaving the miserable city I live in today.  However, the economic crisis has me concerned that I may end up moving to find more troubles than I already have here in this stupid city.    

However, I am not irresponsible with my money and I keep working.  My life is not built around trying to buy every new gadget that hits the market.  Every day I invest around ten hours in my business regardless or pay off, exhaustion, depression, or other hardship.

I have no problem with a good work ethic or being a responsible member of society.  In addition, I do not need Obama to rob the rich to feed me.  I will feed me.

However, to many people in our modern society have given up and our now victims of circumstances.  They are overwhelmed by mortgages and “maxed” out credit.  Yet, this was not done to them.  They did it to themselves.

I know for a fact that a well-managed 30k salary can leave enough money for health insurance and all the other demands of life. However, to many think cable/satellite TV, cell phones, Internet, and other luxuries are necessities. In addition, some people’s cell phone bill is 50% of their home payment. 

All of this madness just points a light on how people have lost their way.  There is nothing wrong with a simple and basic life.  When businesses have to pay more taxes they will pass on the cost to their customers.  This I know for a fact.

In June 2009 the federal minimum wage will go up to $7 dollars an hour.  Every business that has employees earning the federal minimum wage will increase their prices in order to deal with this new expense.  Therefore, Obama’s stimulus plan will actually stimulate a decrease in the economy.

Another fallacy in the Obama administration is that criminals follow the law.  I saw on the news that the Attorney General sees Obama trying to reinstate the federal assault weapons ban.  One reason this Attorney General gave was that it would help Mexico deal with their struggle with drug gang slayings. 

Today, on the NPR web site I read a news article about the CIA and the American Military developing strategies incase Mexico becomes a failed state.  Today, politicians and business leaders are managing Mexico with less ethics than drug dealers.

Some of my customers were commenting to each other that they pay 1,500 pesos for electricity every month.  In today’s, present currency exchange this about $100. Now, this may not be much for many Americans.  I some American’s tell me they pay around $300.  However, for a person earning less than $3 dollars, this is a great sum. 

Now, I have no understanding why a hunter needs an Ak47 to hunt deer.   In addition, I am not against sportsmen.  However, under no circumstances will imposing the federal assault weapons ban again decrease the importation of American made riffles in to Mexico.  Mexican drug dealers will just buy from some else.

Of course, I am concerned about the American who is allowing all of this to happen.  I heard that Obama’s budget would add 1.7 trillion to the 2009 budget deficit and 1 trillion to the 2010 budget deficit. 

Now, let me tell you how I interpret this addition to the deficit.  After the government uses all the money it has, it will still spend 1.7 trillion and 1 trillion more to meet expenses in 2009 and 2010.  Increasing taxes to 39.3 for the 2% of who Obama calls wealthy will only generate 300 billion in tax revenue.  I say this is nothing when you are spending more than 2 trillion dollars.