Obama and the Progressives Are Coming After Your Paycheck

[Elizabeth Parella]

I read a very interesting article today put out by Forbes.com called "When Work Doesn't Pay for the Middle Class." This article speaks about a 50-year-old divorcee in Scarsdale, NY, who recently lost her job which paid her $120,000 a year. It notes that she would be better off getting a $60,000 per year job as, since she has a daughter going to college, at a salary of $120,000 annually she would pay $16,500 more in federal and state taxes, would not qualify for the five-year $12,000-a-year cut in her mortgage payments, and would not be eligible for $19,000 a year less in need-based financial aid for college for her daughter. In effect, the extra $60,000 she would get with a job paying $120,000 would work out to a 79% tax rate on that second $60,000 due to the lost benefits she would suffer.

Now we'll get to a real pet peeve of mine and the focus of this posting. The government, in the form of the Pay Czar, is going after the top bank employees at those banks which accepted TARP. It seems that now they want to extend this to all the OTHER banks in the country and this would extend down to the level of LOAN OFFICERS. What the heck is this? The government telling banks and companies what kind of remuneration they can give their workers? Where does THIS stop?? Next it will be all companies...and then where does it go?

History has taught us a very valuable lesson recently: It was the Federal Government which MADE the banks give out home loans to lousy risks.... They were PRESSURED into doing it not only by the government but by community organizations. And now the Federal Government wants to PUNISH those banks which gave out those loans?

This is the rankest sort of government intrusion that this country has never gone through before (at least to my knowledge), and we should not stand for it! Personally, I don't CARE what people make. If they make $100 million a year, good for them! They likely deserve it. This is a FREE MARKET system we have in this country and we must not lose sight of that. If we do, it will be at the peril of all of us.

I know, I know, there are those who are jealous of folks who make oodles of money...but for the most part these well-paid folks have paid their dues. And yes, there have been no-good-niks who have ripped people off with mortgage-backed securities and other derivative products no one understands...but if folks are greedy and think they can get a return of 12% annually on their investments year after year after year, with no lessened return due to economic conditions which the country goes through, then I have a bridge in New York to sell them! If, however, investors are CHEATED out of their money, they should get it back through whatever means possible (speaking of the Madoff scandal). But if you're stupid enough to invest in things you do not understand, or be so greedy that you think your investments can sustain a year-after-year return of 12% or better, then you must have the personal responsibility to find out what the heck you're investing in and understand it fully before committing your hard-earned money. DO YOUR HOMEWORK in other words. Where's the PERSONAL RESPONSIBILITY in your life?

Jealousy and greed make lousy bedmates....and Congress and the president need to realize that every action has a reaction....

Have they figured out that, if folks aren't making a lot of dough, they will not be paying as much in taxes to the Treasury? Likely they'd say "Uh-oh" when they see tax revenues plummet, which they will. Then what will happen? Likely they'll raise taxes again and again to support a government which is getting bigger and bigger like Fat Albert (and my apologies to old Albert...he's quite a guy!).

Whether we make $40,000 or $40 million a year, we're all at risk here...and don't let some nitwit tell you otherwise!

[Elizabeth Parella]

Thanks for the comment, Michael. You're right that it is on purpose...the more folks beholden to the government, the more votes for the politicians currently in power.

The idea behind this is to make everyone the same, but I do not think that will ever work and would likely take thousands of years. In some of us there is an entrepreneurial spirit which will never go away. Some will never be satisfied with sameness. Others will take the road of the welfare state which, in and of itself, is nothing but a form of modern-day slavery.

I recall over forty years ago having a conversation with someone who said, "Who's going to take care of me?" I looked at her and said, "You're going to take care of yourself!" I found that a shocking sentiment, but at the time I was but a young-ish whippersnapper who was always taught that no one was going to take care of me and that I had to do it myself and had better get the skills and the drive to accomplish it.

The leaders of our government will not take a pay-cut. In fact, if you look at how the spouses of these so-called leaders have sucked at the government teat, you'd be amazed at the enrichment each has gotten. Nancy Pelosi's husband was the beneficiary of some legislation which impacted California and his business, and there are many others who have benefited hugely. Term limits such as we have for the office of the presidency might be a grand idea. In that way, these Congressmen and women and Senators do not get too entrenched and cannot steer legislation which would benefit them or their friends. Some of this legislation might not cost all that much, a couple of million here, ten million there, but it all ADDS UP to a grotesque amount of money.

Considering what the bozos in Washington make, have you ever wondered, "Gee, how did they and/or their families get so rich?" LOL It's so easy. They have been gaming the system for decades just like ACORN has gamed the system.

The unions will be gaming the system big-time if we are not on the lookout for any nasty amendments to whatever healthcare bill is voted on which will make their bankrupt healthcare and pensions whole since these unions have spent tens of millions to get their special bozos elected to public office. They're all but bankrupt and need their own bailout from the government...and we must make sure they do NOT GET IT!

[FRANKLIN SCHNEIDER]

you are so right,but thats what they want. 2 groups elites and the poor who beg for help .Its scary im 65 but my poor grandkids.They will never know the Freedom we knew. im still fighting for them and i hope that all American Poeple who love Freedom will join.