The result of “no corporate taxes”

Sarah Palin proposed eliminating all corporate taxes in her speech to the Iowa Tea Party today. This is HUGE. The ripple effect of putting this in place would affect a vast swath of corporate America, in addition to eliminating crony-capitalism.

Consider for a moment all those that would be affected by such a policy. Corporate tax attorneys, CPA firms and countless tax department employees would lurch to a halt in their jobs. The focus of countless corporate controllers would shift from tax avoidance to net income maximization.

Countless corporate lobbyists would be out of a job overnight. Their corporate benefactors would pull the plug on their funding immediately. The focus of corporations would turn away from Washington, DC in a heartbeat.

Companies that have relied on government largess to support their bottom lines would be horrified. Weaknesses in governance would be exposed overnight as the SEC would mandate that companies disclose any risk in their business plans beyond company guarantors. GM and Chrysler would suffer a major downgrade in their stock valuation because the federal government would no longer underwrite and support their operations.

In a word, the free-market would explode! Risk-taking would suddenly be in vogue again and entrepreneurs would be empowered to invest. There would be a massive shift of cash out of savings into new endeavors. Corporations would scramble to find fitting investments for their stockpiles of cash. The value of small companies would skyrocket as these investment dollars would be looking for a good return and compete for the best ideas.

The downside? Washington politicians would immediately demonize the idea as a major impediment to deficit reduction, as if they’ve ever cared about that in the past. The caterwauling about reduced revenues for Washington would be deafening! If such a policy was implemented, we would watch Washington pundits undergo convulsions as they began to realize how their lives would be impacted. There would be no incentive for ANYONE involved in business to pay attention to them.

Sarah Palin has opened Pandora’s box with her proposal to end corporate taxation. I am anxious to see the effects of her proposal on other Republican nominees, especially in next week’s debate.

While doing nothing but address a Tea Party event in Iowa, Sarah Palin has turned the 2012 election upside down. Now that’s what I call an unconventional campaign!

Appealing to the ‘Right Wing’

This is so amazing to me! Rick Perry calls out the Federal Reserve’s Chairman and his propensity to print money as a solution to the bad economy.

The White House was quick to respond, calling Perry’s comments “not a good idea”. Per the AP:

The White House denounced Republican presidential candidate Rick Perry on Tuesday for his threatening remarks toward the head of the U.S. Federal Reserve that represented some of the most inflammatory rhetoric of the 2012 election campaign.

Campaigning in Iowa on Monday, the Texas governor said he would consider it “treasonous” if Fed Chairman Ben Bernanke “prints more money between now and the election” in November 2012 — a fresh sign of the political heat the central bank faces as it tries to right the stumbling U.S. economy.

“If this guy prints more money between now and the election, I don’t know what y’all will do to him in Iowa, but we would treat him pretty ugly down in Texas,” Perry said to laughter from supporters in Iowa.

“Printing more money to play politics at this particular time in American history is almost treacherous, treasonous in my opinion,” he said.

The White House responded by saying it is important for the Fed to remain independent, and jabbed back at Perry, who on Saturday entered the race for the Republican nomination to face Democratic President Barack Obama. Perry is already considered one of the strongest candidates for the Republican nomination.

“I certainly think threatening the Fed chairman is not a good idea,” White House spokesman Jay Carney said.

“When you are president or running for president, you have to think about your words,” Carney said in Iowa, where Obama was on a campaign-style bus tour.

Yes, a campaign-style bus tour paid for by taxpayers.

Mind you, this is only three days since Perry entered the fray!

Conquering the Storm

Sarah Palin just posted a new Facebook post. I provide it to you here. It’s lengthy, but very timely.

Conquering the Storm
by Sarah Palin on Monday, August 8, 2011 at 5:53pm

In the coming days we’ll sort through the repercussions of S&P’s downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt.

I’m surprised that so many people seem surprised by S&P’s decision. Weren’t people paying attention over the last year or so when we were getting warning after warning from various credit rating agencies that this was coming? I’ve been writing and speaking about it myself for quite some time.

Back in December 2010, I wrote: “If the European debt crisis teaches us anything, it’s that tomorrow always comes. Sooner or later, the markets will expect us to settle the bill for the enormous Obama-Pelosi-Reid spending binge. We’ve already been warned by the credit ratings agency Moody’s that unless we get serious about reducing our deficit, we may face a downgrade of our credit rating.” And again in January, in response to President Obama’s State of the Union address I wrote: “With credit ratings agency Moody’s warning us that the federal government must reverse the rapid growth of national debt or face losing our triple-A rating, keep in mind that a nation doesn’t look so ‘great’ when its credit rating is in tatters.”

One doesn’t need a Harvard Law degree to figure this out! Just look across the pond at Europe. European nations with less debt and smaller deficits than ours and with real “austerity” plans in place to deal with them have had their ratings downgraded. By what magical thinking did we figure we could run up perpetual trillion dollar deficits and still somehow avoid the unforgiving mathematics of a downgrade? Nothing is ever “too big to fail.” And there’s no such thing as a free lunch. Didn’t we all learn that in our micro and macro econ classes? I did at the University of Idaho. How could Obama skip through Columbia and Harvard without learning that?
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London is burning!

If you want to see what we have in store for us, check out this video. There have been riots in London the last few nights and the police don’t have the manpower to stop it.

And yet, Barack Obama wants to cut our defense budget. The question is WHY?

With the number of unemployed in this country and especially our high youth unemployment, it’s only a matter of time before this starts to occur here. And we are no more equipped to handle it than England is.

Thanks Barry! What’s that you say, it’s the Tea Party’s fault? You are as mad as the rioters in London, but then again, you actually pursued a career in community agitating. Look at what that line of work instigated in London! Bill Ayers and Jeremiah Wright must be high-fiving each another while sipping their Chardonnay in Hyde Park.

Awaiting a Black Monday

I’m not looking forward to Monday. With the news yesterday that Standard and Poor’s lowered the long-term bond rating of U.S. debt for the first time since 1917, the markets may retreat further on the heels of their dismal performances last week.

We are beginning to hear calls for U.S. Treasury Secretary Timothy Geithner to resign. Expect those calls to increase exponentially over the next several days, culminating in his “removal/retirement” from public service. Let me state for the record that Timothy Geithner should be fired immediately. In a private or public company, this guy would have been canned many, many months ago for what was a totally predictable outcome of his pursued Keynesian policies. We expected him to offer sound advice to the administration, but, instead, he has been an absolute disgrace in the performance of his fiduciary duties and should be held accountable for this disastrous outcome. It didn’t have to happen! Ultimately, however, we must hold Barack Obama accountable as well. It’s called an election.

I also expect to see Barack Obama’s approval ratings take a big hit next week. He can no longer hide behind the weak narrative of blaming Republicans and the Tea Party for his failed policies. I have no doubt that the administration will try to spin this in an attempt to insulate Obama, but I think that the charade is over.

We’ll know soon enough. Check out Scott Rasmussen’s Daily Presidential Tracking Poll and RealClearPolitics’ President Obama Job Approval poll over the next few days. It should be quite telling.

I don’t take solace in the failure of the Obama administration’s policies for our economic woes. I pray that he wakes up and does what’s right for the American people, reigning in his socialist agenda. Sadly, I just don’t see that happening. To date, there has been little or no evidence to suggest it.

2012 can’t come soon enough! In my lifetime, I have never witnessed a period of time that has brought us so close to a complete economic collapse as in I have in the last 3 years. The potential anarchy that could result in such a collapse would make the riots of the 1960’s look like a picnic. We just have to hang on for dear life and adhere to the principles of our Constitution, electing politicians that will begin to end this nightmare.

Update: It’s already starting to happen.
__________

Cross-posted on Generational Dysfunction

Monologue – Sarah heads to Iowa

Here is my opening monologue from today’s The Roderic Deane Show on BlogTalkRadio:

It’s time to start gearing up for Sarah Palin’s appearance at the Waukee, Iowa Tea Party rally on September 3rd. Here are a few reasons why I think her appearance there is so significant.

First, the time is fast approaching for her to make a decision about whether or not she’s going to run for President. She has to decide soon if she’s going to develop a good organization for her campaign. Remember what happened to Fred Thompson? He had planned on running an unconventional, Internet-based campaign and it ended before it started due to some really bad advice.

Second, September 3rd marks the 3rd anniversary of Sarah Palin’s RNC Convention speech. That speech galvanized conservative support for John McCain and actually propelled the campaign into a significant lead over Barack Obama. John McCain then squandered everything bit of momentum that Sarah had brought to the effort when he “suspended” his campaign to return to Washington to deal with the the mortgage meltdown. To make the visuals even worse, his return was completely inconsequential and demonstrated his knee-jerk reaction as one of a Senator and not a Presidential contender. His campaign began tanking immediately after that.

Third, this event is in Iowa and puts Sarah on fertile ground at a Tea Party event. I totally expect that the event will be HUGE and draw massive crowds, demonstrating to both Iowans and Tea Party patriots around the country that she is the ideological heart of the Tea Party movement. I have tentative plans to drive to Iowa from North Texas, because I honestly believe that her appearance is going to be a must-see event. In addition, I don’t think I’m the only one that feels that way. I’m hearing of bus-trips being organized throughout the country to assist people that want to attend the event. I made sure to make my hotel reservations early, because I think rooms will become scarce within the next few weeks.

I could probably come up with a number of other reasons, but I think that these three get to the crux of the matter. In addition to a huge gathering in Waukee, I expect that Sarah’s keynote speech will be televised live and blogcast live on a number of different venues. I would expect Andrew Breitbart to have a dominant role in that regard, so you shouldn’t have to miss her speech if you really want to see it.
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Lloyd Marcus: Palin Power Coming on Stronger!

In a great piece published on the American Thinker blog, Lloyd Marcus comes out with a full-throated endorsement of Sarah Palin’s defense of the Tea Party movement.

Sarah Palin’s latest “in your face” to the Obama administration in defense of the Tea Party is guaranteed to infuriate the left and terrify the timid on our side. Sarah said, “If we were real domestic terrorists, shoot, Obama would want to pal around with us, wouldn’t he?”

Wow! I loooooooove this woman!

Compare Palin’s cojones to those of Republican presidential candidate, Jon Huntsman. Huntsman encouraged Republicans to surrender to Obama during the debt ceiling battle. Get this, folks: as a contender for the White House, Huntsman said he will not attack Obama.

How absurd is that? Huntsman’s going into the ring with the Mike Tyson of politics, and his strategy is not to hit.

Compared to the John-Wayne true grit of Sarah Palin, Mr. Huntsman sounds pathetically metrosexual.

Talk about a “no surrender, no retreat” attitude! Despite a relentless and unprecedented effort to destroy her and her family, Palin is just as bold and beautiful as she was when she gave her extraordinary VP nominee acceptance speech in 2008.

I know you fearful folks on our side will flood me with e-mails about how Palin is too this or too that. Well, I am sorry, but every time this woman speaks, I feel excited. But most important, I feel empowered. After the Republicans’ depressing cave on the debt ceiling, Lord knows we Tea Party patriots desperately need to feel empowered.

So many folks on our side feel they must walk on eggshells, careful not to offend the left. Palin boldly and unapologetically stands up for God, family, and country.

[More]

Take that all you limp-wristed, announced presidential candidates!

Now, get yourself Palinized by going to see “The Undefeated”. You’ll be so glad you did!

Debtorgeddon!

Here is the monologue from today’s Roderic Deane Show:

Folks, we are now two days away from Armageddon, or, as I like to call it, Debtorgeddon. At least that is the claim of the caterwauling elites in Washington, DC, including Barack Obama, Harry Reid and John Boehner, leaders of their respective parts of government.

The truth is this: the Federal Government will NEVER begin to reign in spending until we, the people, cut off the purse strings and say “Enough is enough!” What you’ve been hearing for the last two weeks are the arguments of a junkie, hooked on OUR money to advance their ridiculous political agendas.

Most of these so-called leaders are independently wealthy and pursue their government jobs as a “calling” in the sense that they don’t need the money. What they do need, however, is the sense and trappings of power that their positions give them. This is the absolute worst kind of representation that the Founders envisioned.

I don’t begrudge them their wealth or success, but I take great exception to their desire to control the outcome of my life. How can they possibly appreciate the path I have taken and the adversity I’ve overcome to get to where I’m at today. I’ve done it without their tutelage, support and funding. I’ve had to rely on family at times and I have lent support to them in kind, because that’s what families do.

I’ve been unemployed in the past and was eligible for unemployment benefits, but I refused them. I chose to work myself out of the hole and took whatever job I had to that helped me make ends meet. I’ve hauled up and moved to a distant city for better job opportunities. I’ve hauled up and moved to a distant state for the same reason, taking me far away from family, but I’m doing okay. I have friends and family of my own who support me and that gives me a sense of accomplishment.

The same does not hold true for the politicians, pundits and bureaucrats in Washington. They’ve developed a support system of dependence at our expense. It’s time for a change.

If I could refuse to pay for misguided and unnecessary federal programs, I would, expecting nothing in return. I’d gladly pay for supporting my local infrastructure and schools, because those things directly impact my family and community. I would be happy to pay for a strong military, to protect my family and community from outside threats. But I would not provide money to allow a bunch of self-serving politicians to spend it like it was theirs to begin with. Unfortunately, I don’t have a choice in the matter unless I help elect politicians that will protect my ability to make my own choices and reap my own rewards.

Sadly, we’re seeing nothing change in Washington, even after the landslide elections of 2010. The drug is too strong and the pushers are too persuasive. We must take action to rid ourselves of those “pushers” and usher in those with a true “servant’s heart”. Isn’t that what what the Framers designed? They did their best to design a government that had checks and balances. They assumed that the “right” people would champion their ideals and adhere to their principles. In the event they did not, they designed a divided system of governance, hoping that those checks and balances would thwart any attempt at tyranny.

The House of Representatives is the only thing standing between us and a runaway federal government, controlled by Barack Obama and his minions in the Democratic party. The House Republicans MUST hold the line. I don’t care if they’re demonized by their opponents or derided by the media. They must stand for our liberty! I will gladly stand with them in the fires of hate, knowing that doing so just might turn the tide and ensure that my children have a future in liberty! Look at what the Framers risked. It was far more than ridicule. They and their families risked death and destruction. Was the price they paid all for naught?

…and that’s my two-cents worth for the week.

Articles mentioned on today’s show:

Sarah Palin’s Facebook Note: “Congressional Freshman – For Such A Time As This”

The Heritage Foundation’s blog: “Morning Bell: The Obama EPA’s Brave New Future”

You can listen to today’s Roderic Deane Show here.

Pundits are melting down!

According to Gallup, Barack Obama just hit a low point in his job approval. Try as I might, I can’t find anyone in the “lamestream” media reporting it.

We are being played for fools, and many conservative pundits are swallowing it, hook, line and sinker.

The world is not going to end if we don’t have a debt deal. Trust me on this. In fact, set your alarm clock for 5am EDT on Wednesday, August 3rd. That’s the day after Barack Obama’s “hard” deadline for a deal.

Here is what you’ll find when you walk outside at 5am on August 3rd. Birds will be singing their morning songs. The sky will showcase clouds that cross your location as they make their way to an unknown destination.

The news will still be broadcast on TV. The radio commentators will alert you to the news of the opening of the stock market with breathless anticipation. The traffic lights will still be working as you drive to your daily job.

In a word, nothing will be different that it was the day before. This manufactured “crisis” will morph into a discussion of, well, other things.

I grow weary of the “crisis of the day” with this administration. It’s all a ruse to scare you into submission. Don’t fall for it!

Listen to The Roderic Deane Show at noon ET on Sunday. We’ll dig into all that has transpired in the last few days.

Sarah calls out Republican Freshman in the House

Sarah Palin posted the following note on her Facebook page yesterday:

Out here in proverbial politico flyover country, we little folk are watching the debt ceiling debate with great interest and concern. Today I re-read the open letter I wrote to Republican Freshman Members of Congress in November 2010, just days after they were ushered into office in an historic landslide victory due in large part to the activism of commonsense patriots who are considered part of the Tea Party movement. I respectfully ask these GOP Freshman to re-read this letter and remember us “little people” who believed in them, donated to their campaigns, spent hours tirelessly volunteering for them, and trusted them with our votes. This new wave of public servants may recall that they were sent to D.C. for such a time as this.

The original letter is pasted below, with added emphasis to certain passages that I feel are especially relevant to the current discussion.

All my best to you, GOP Freshmen, from up here in the Last Frontier.

Sincerely,

Sarah Palin

P.S. Everyone I talk to still believes in contested primaries.

******

November 13, 2010

Welcome to all Republican Freshmen and congratulations!

Congratulations to all of you for your contribution to this historic election, and for the contributions I am certain you will make to our country in the next two years. Your victory was hard fought, and the success belongs entirely to you and the staff and volunteers who spent countless hours working for this chance to put government back on the side of the people. Now you will come to Washington to serve your nation and leave your mark on history by reining in government spending, preserving our freedoms at home, and restoring America’s leadership abroad. Some of you have asked for my thoughts on how best to proceed in the weeks and months ahead and how best to advance an agenda that can move our country forward. I have a simple answer: stick to the principles that propelled your campaigns. When you take your oath to support and defend our Constitution and to faithfully discharge the duties of your office, remember that present and future generations of “We the People” are counting on you to stand by that oath. Never forget the people who sent you to Washington. Never forget the trust they placed in you to do the right thing.

The task before you is daunting because so much damage has been done in the last two years, but I believe you have the chance to achieve great things.

Republicans campaigned on a promise to rein in out-of-control government spending and to repeal and replace the massive, burdensome, and unwanted health care law President Obama and the Democrat Congress passed earlier this year in defiance of the will of the majority of the American people. These are promises that you must keep. Obamacare is a job-killer, a regulatory nightmare, and an enormous unfunded mandate. The American people don’t want it and we can’t afford it. We ask, with all due respect, that you remember your job will be to work to replace this legislation with real reform that relies on free market principles and patient-centered policies. The first step is, of course, to defund Obamacare.

You’ve also got to be deadly serious about cutting the deficit. Despite what some would like us to believe, tax cuts didn’t get us into the mess we’re in. Government spending did. Tough decisions need to be made about reducing government spending. The longer we put them off, the worse it will get. We need to start by cutting non-essential spending. That includes stopping earmarks (because abuse of the earmark process created the “gateway-drug” that allowed backroom deals and bloated budgets), canceling all further spending on the failed Stimulus program, and rolling back non-discretionary spending to 2008 levels. You can do more, but this would be a good start.

In order to avert a fiscal disaster, we will also need to check the growth of spending on our entitlement programs. That will be a huge challenge, but it must be confronted head on. We must do it in a humane way that honors the government’s current commitments to our fellow Americans while also keeping faith with future generations. We cannot rob from our children and grandchildren’s tomorrow to pay for our unchecked spending today. Beyond that, we need to reform the way Congress conducts business in order to make it procedurally easier to cut spending than to increase it. We need to encourage zero-based budgeting practices in D.C. like the kind fiscally conservative mayors and governors utilize to balance their budgets and reduce unnecessary spending.

There in the insulated and isolated Beltway you will be far removed from the economic pain felt by so many Americans who are out of work. Please remember that if we want real job growth, we must create a stable investment climate by ending the tidal wave of overly burdensome regulations coming out of Washington. Businesses need certainty – and freedom that incentivizes competition – to grow and expand our workforce.

The last thing our small businesses need is tax hikes. It falls to the current Democrat-controlled Congress to decide on the future of the 2001 and 2003 tax cuts. If it does not permanently renew all of them, you should move quickly to do so in the new Congress. It would remove from households and businesses the threat of a possible $3.8 trillion tax hike hitting all Americans at the worst possible moment, with our economy struggling to recover from a deep recession! You must continue to remind Democrats that the people they are dismissing as “rich” are the small business owners who create up to 70% of all jobs in this country!

Another issue of vital importance is border security. Americans expect our leadership in Washington to act now to secure our borders. Don’t fall for the claims of those who suggest that we can’t secure our borders until we simultaneously deal with the illegal immigrants already here. Let’s deal with securing the border first. That alone is a huge challenge that has been ignored for far too long.

On foreign policy and national security, I urge you to stick to our principles: strong defense, free trade, nurturing allies, and steadfast opposition to America’s enemies. We are the most powerful country on earth and the world is better off because of it. Our president does not seem to understand this. If we withdraw from the world, the world will become a much more dangerous place. You must push President Obama to finish the job right in Iraq and get the job done in Afghanistan, otherwise we who are war-weary will forever question why America’s finest are sent overseas to make the ultimate sacrifice with no clear commitment to victory from those who send them. You should be prepared to stand with the President against Iran’s nuclear aspirations using whatever means necessary to ensure the mullahs in Tehran do not get their hands on nuclear weapons. And you can stand with the Iranian people who oppose the tyrannical rule of the clerics and concretely support their efforts to win their freedom – even if the President does not.

You need to say no to cutting the necessities in our defense budget when we are engaged in two wars and face so many threats – from Islamic extremists to a nuclear Iran to a rising China. As Ronald Reagan said, “We will always be prepared, so we may always be free.” You will also have the opportunity to push job-creating free trade agreements with allies like Colombia and South Korea. You can stand with allies like Israel, not criticize them. You can let the President know what you believe – Jerusalem is the capital of Israel, not a settlement. And for those of you joining the United States Senate, don’t listen to desperate politically-motivated arguments about the need for hasty consideration of the “New START” treaty. Insist on your right to patient and careful deliberation of New START to address very real concerns about verification, missile defense, and modernization of our nuclear infrastructure. No New START in the lame duck!

You can stand against misguided proposals to try dangerous, evil terrorists in the US; precipitously close the Guantanamo prison; and a return to the failed policies of the past in treating the war on terror as a law enforcement problem. Finally, you have a platform to express the support of the American people for all those around the world seeking their freedom that God has bestowed within all mankind’s being – from Burma and Egypt to Russia and Venezuela – because the spread of liberty increases our own security. You, freshmen lawmakers, can and will be powerful voices in support of foreign policies that protect our interests and promote our values! Thank you for being willing to fight for our values and our freedom!

In all this, you should extend a hand to President Obama and Democrats in Congress. After this election, they may finally be prepared to work with Republicans on some of these issues for the good of the country. And if not, we will all be looking forward to 2012.

Remember that some in the media will love you when you stray from the time-tested truths that built America into the most exceptional nation on earth. When the Left in the media pat you on the back, quickly reassess where you are and readjust, for the liberals’ praise is a warning bell you must heed. Trust me on that.

I and most Americans are so excited for you. Working together, we have every right to be optimistic about our future. We can be hopeful because real hope lies in the ingenuity, generosity, and boundless courage of the everyday Americans who make our country exceptional. These are the men and women who sent you to Washington. May your work and leadership honor their faith in you.

With sincere congratulations and a big Alaskan heart,

Sarah Palin