Style Over Substance: The Republican “Spread the Wealth” Plan

The Wall Street Rescue Plan Is the Republican Version of “Spread the Wealth.” The effects of the past twenty-eight years of Republican deregulation and Liberal-bashing have led to the greatest spreading of wealth in the Nation’s history. All 300,000,000 of us must “spread” our “wealth” to protect the McCain-named “greed and corruption on Wall Street.”

If “Spread the Wealth” Is Really the Republican Program, how can Senator McCain and Governor Palin get away with accusing Barack Obama? The answer is simple: it depends on John McCain’s sarcastic tone and Sarah Palin’s humorous barbs about “Joe the Plumber” and “Ed the Dairyman.” By pushing these false examples—of people who would actually gain in the wealth of Wall Street CEOs under an Obama plan—the Republican candidates exercise their own right to “Style Over Substance.”

“Style Over Substance” Is What the Republican Party Has Given Us for the Past Eight Years. Meanwhile, they have “spread the wealth” of middle-class American, to bailout the multimillionaires on Wall Street. $700,000,000,000 and counting: that’s how much taxpayer money the Republican “Spread the Wealth” plan has spread to rescue Wall Street. Where is the “trickle down” in that?

General Colin Powell Makes His Case for Barack Obama eloquently. While John McCain and Sarah Palin believe that being an Arab-American or a Muslim-American or a French-American or an American city dweller is a bad thing, Colin Powell points out the essential American point-of-view:

We Are All Americans. While Sarah Palin talks about “pro-America” parts of the country, nothing in the Barack Obama or Joe Biden record shows either leader categorically dismissing any American citizens as second-class.

“Style Over Substance”? “Second-Class Americans”? That’s the McCain-Palin approach, for which un-American positions they should be resolutely denied election to higher national office.

Style and Substance? That’s What Barack Obama Offers America throughout this long campaign and in presidential leadership to come. Now, early voting is begun in many states throughout the nation. One party in this election clearly seeks to represent all of America. We are one nation. United and indivisible.

Barack Obama and Joe Biden Ask for Your Vote. They need it now. America needs your vote now. It is time to show the “Spread the Wealth” Republicans that “Country First” means all the country. And “Hope” and “Change” represent the real American future, to end this long era that has put the failed policies of “Wall Street First” ahead of the safety and security of the greatest nation the world has ever known.


Thank You for Your Support

ASP: The American Shareholder Plan

The News out of Washington, D.C., Today came from Secretary of the Treasury Henry Paulson. Among other information contained in the Secretary’s report on coming government actions related to the troubled international crisis, one thing stood out:

The American Taxpayer Is about to Become a Major Shareholder in the securities of troubled financial institutions. According to Secretary Paulson, in the appropriate or necessary circumstances, the taxpayers, through the agency of the national government, will receive actual shares of stock in the troubled banks and other institutions.

The Distribution of These Shares was not mentioned in the Secretary’s press conference, but we would like to suggest once again the possibility of an actual distribution of these shares into individual accounts for each individual shareholder.

Under the American Shareholder Plan (“ASP”), accounts can be opened for each American citizen and taxpayer, using the information on record with the Social Security Administration. These shares can then grow in the individual’s ASP account, for a wide range of purposes, such as home purchase, college tuition, health care, or retirement.

So Long as the Shares Are Kept in the ASP Account, their value will not be taxed, and nor will any dividends or other distributions be taxed. Just as with IRAs and Health Savings Accounts and other tax-advantaged investment plans, the ASP beomes the individual’s private investment acocunt, to use as he or she sees fit.

Under the Prospects of the ASP, the American taxpayer, currently bailing out Wall Street with tremendous sums of money, at a time of great financial duress, will stand to benefit completely from the eventual recovery of the financial markets. Whether the companies involved are banks or other types of businesses, the variety of income and capital return that each citizen might earn may eventually compensate the American taxpayers for the economic pain and suffering and risk that is currently underway.

Democratic Candidates Barack Obama and Joe Biden ask for your vote on November 4, 2008. Please help make exciting new programs such as the American Shareholders Program become reality.



[DISCLAIMER: The ASP is not currently endorsed by Barack Obama or Joe Biden, who have not yet read this post.]

It Seemed Like Sort of a Good Idea at the Time....

Despite Persistent Evidence to the Contrary throughout the entire history of humanity, Republicans and Libertarians assert the idea that greed somehow controls itself. That people operating always in their own self-interest will generally do the right thing when it comes to dealing with their own resources and with one another.

Separately, Conservative Writer George F. Will as recently as January 4, 2007, wrote that “Labor is a commodity; governments make messes when they decree commodities' prices.” In the sense that one person on an assembly line is about as effective as any other person on an assembly line, Mr. Will is absolutely correct.

But in the Sense That a Society Is about its People, Mr. Will’s assertion is abhorrent. And now we see the practical outcome of such flawed reasoning in the tremendous economic crisis of today. (One wonders what Mr. Will thinks that "government of the people, for the people" actually means?)

We Now Have a Final Assessment: These “self-regulating markets” do not function properly where the "commodity" of actual, real live human beings is concerned.


The Overriding Fact Is that it was the “free market” combination of lessened regulation and diminished oversight and the “deadly sin” of greed that brought us to the edge of this precipice. A deliberate conspiracy of deregulation and incompetence has brought us to the brink.

Now Barack Obama’s Opponent, a self-avowed “Maverick” of deregulation and a twenty-five-year veteran of the the “free-market” crowd, tries desperately to assert his capabilities to serve as President.

But Republican Senator McCain Is the Wrong Person, with the Wrong Philosophy, at the wrong time. It is too late for Senator McCain to fool America into thinking that he is something he is not.

Now Is the Time for a Government for All the People, not just for those who at the top of the heap, drawing seven-figure CEO salaries. The Democratic principles of oversight and fairness and economic equality—for those willing to work for it—now return. The Republican “Free-Market” ideas now follow Elvis out of the building....


Now Is the Time for the Calm, Firm Leadership of Barack Obama. A non-ideological approach that counts all of America, from the "commodity" of labor to the Republican "CEOs" of Wall Street, as one indivisible nation under God, with liberty and justice for all.

Later, with the Nation Once More Restored to a Solid Footing, the deregulation, small-government Republicans will return to power. They always do.

It Always Seems Like a Good Idea at the Time. The economy will bloat again with the ungoverned greed. Somehow it always does.

But Right Now, It Is Time for the Democrats Once Again to roll up their sleeves and get to work, rescuing the American people, while bailing out the Conservatives and the Republicans and the free-market CEOs of Wall Street, as well.


Barack Obama and Joe Biden Are Asking for Your Vote on November 4, 2008. These men represent the party for all the people of these United States, rather than just the silent CEOs of the Fortune 500® and Wall Street.

It Is Time for a Return to Reason and Good Sense. Regardless of how much, “It seemed like sort of a good idea at the time.”

Vice-Presidential Debate Quiz, Part 2

[Our Series of Occasional Campaign Questions Continues:]

In 2003, Speaking on CNN, Senator McCain said:
“I Am a Deregulator. I Believe in Deregulation.”

Less than Two Weeks Ago on 60 Minutes, Senator McCain Said,
“I think the deregulation was probably helpful to the growth of our economy.”

Yesteryday Congress Voted Our $700 Billion Bailout of that same economy.

Democratic Vice-Presidential Candidate Joe Biden, speaking in last-Thursday’s debate, said that Senator McCain “recently wrote an article in a major magazine saying that he wants to do for the health care industry, deregulate it and let the free market move, like he did for the banking industry.”

QUESTION #3:
Should America Let Senator McCain Do for Health Care what he has done for the banking industry?

□ Yes
□ No
□ Now is not a good time to ask


QUESTION #4:
Would You Like the Arizona Senator to Deregulate Your Health Insurance?

□ Yes
□ No
□ I can’t afford health insurance


QUESTION #5:
If Senator McCain Ever Gets His Hands on Health Care, should the American people be expected to provide another $700 billion bailout?

□ Yes
□ No
□ Yesterday's bailout check hasn't yet cleared the bank



(Transcript source: http://www.cnn.com/2008/POLITICS/10/02/debate.transcript.
Italics in Govrenor Palin's comments are by Channeling Barack Obama™ )

Sarah Palin Disputes John McCain

In Last-Night’s Vice-Presidential Debate, Governor Sarah Palin promised to join John McCain and clean up Washington.

Disputing Senator McCain’s Oft-Repeated Deregulator Claim, Governor Palin said, “Now, as for John McCain's adherence to rules and regulations and pushing for even harder and tougher regulations, that is another thing that he is known for though.”

Senator McCain Disagrees With His Running Mate. Senator McCain maintains that he has always been known as “a deregulator.” (At least until a few weeks ago.)

“I Am a Deregulator. I Believe in Deregulation,” said Senator McCain, speaking on CNN five years ago, on 07/13/2003. And here is Senator McCain, less than two weeks ago, in an interview on 60 Minutes (air date: 09/21/2008):

CBS (Scott Pelley):
“In 1999 you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?”

McCain:
“No, I think the deregulation was probably helpful to the growth of our economy.”

Vice-Presidential Candidate Joe Biden Disagrees: “So what you had is you had overwhelming ‘deregulation.’ You had actually the belief that Wall Street could self-regulate itself.”

Here Is Senator McCain, Again From 60 Minutes:

CBS:
“McCain has been an advocate of deregulation most of his career, but Thursday he endorsed the biggest bailout in history—a plan for the government to take on the bad debts of financial institutions.”

McCain:
“We’re going to take over these bad loans. We’re going to take over these bad, these bonds and we’re going to keep you alive. And we’re going to have the taxpayer help you out. But when the time comes and the economy recovers, then anything that’s gained back is going to go to the taxpayers first.”

The “We” That Senator McCain Is Talking About is the United States Government, that Senator McCain has served for the past 26 years—"deregulating" and “cleaning up” Washington.

Listening to Senator McCain, it’s clear why his cleanup efforts have been unsuccessful.

In His Earnest Effort to Get Elected, Senator McCain can’t decide whether government regulation is the problem—or the solution.

And So He Promises Both.

Can You “Clean Up Washington” and “Deregulate” at the Same Time? Governor Palin and Senator McCain both say "Yes!" But John McCain's 26 years as a "Maverick" in the United States Congress says no.


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Is Government Really the Problem?

Republicans Since the Days of Ronald Reagan have loudly insisted that “Government is not the solution. Government is the problem.”

With the Current Bailouts of the American Economy underway in Washington, it’s getting a little bit harder to make that sound convincing.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, speaking urgently last week before the Senate Banking Committee about their Federal Bailout proposal, seem to believe that government actually may indeed have the solution to the current potential mortgage meltdown.

According to These Distinguished Republican Gentlemen, deregulation is the problem, government is the solution. And the time is now.

Government Can Be the Solution, even if the free-market Republicans want to deny it.

Presidential Candidate Barack Obama and Vice-Presidential Candidate Joe Biden ask for your vote on November 4th.

It's Time to Reinvest in the American Spirit.


Thank You For Your Support

In for a Penny, In for the Whole United States Treasury

At Least Federal Reserve Chairman Ben Bernanke had the decency today to say that he has made plenty of mistakes. Has anyone else in the Bush Administration ever apologized to the American people? Has anyone else in the Bush Administration said anything even close to this?

For the Rest of the Bush Administration, right now it's “Empty the rest of your wallets, step aside and shut up, or the whole ball of wax goes up in flames.” This may be as close to an apology as we citizens of the United States are likely to get. For any or all of these messes.

The Free-Market Ideology, the Great Experiment, is now the experiment that has failed. It has failed American Conservatives in particular, and it has failed the American people overall.

Over the Past Eight Years, We Have Seen what the decades-long dismantling of essential regulatory measures has done to the economy—from the savings and loan industry back in the 1980s, all the way through to the banking and mortgage and investment fiascoes of today.

President Bush’s Appointees, Treasury Secretary Henry Paulson and Fed Chairman Bernanke, offer absolutely no assurances as to why we should trust them now, in the face of their long series of failures. If a bailout is necessary, it seems prudent to look for someone different to give the thing a try.

It Is Common to Resist Changing Horses in the Middle of the Stream, even if the horse you’re on is crippled and drowning. That fear of changing “horses” is part of what re-elected President George W. Bush in 2004. As some Conservatives said, “He got us into it; he can get us out.”

Well, It Seems That This Horse Can’t Get Us Out, and indeed his people have continually made things worse. And now his people come to Congress, hat in hand, and beg for the American worker to bail the Wall Street bankers out.

Secretary Paulson Says That If We Try to Limit the Bailout, such as by asking for equity positions in the risky investments that we buy—or by limiting the multimillion-dollar CEO salaries of the companies involved—why, these firms—these CEOs—might just turn us down.

That’s Right: the CEOs of These Desperately Troubled Firms might just say to us, “Thanks....... But no thanks.”

And Then Where Would We Be?

If We All Go down the Financial Tubes Without Their Bailout, at least they won’t be taking $700,000,000,000 more of our money with them when we all go. At least they won't be “laughing all the way to the bank” without us.

The Good News: Exactly six weeks and counting until we vote the current, uh, Free-Market, Anti-Regulation Republicans out.

Even Republicans Are Innocent Until Proven Guilty

One of the Republican Candidates Is Under Investigation, as you probably know. The accusation concerns an alleged misuse of executive power in relation to the former commissioner of the Department of Public Safety in Alaska.

The Investigation Was Initiated by a Republican-led Committee, but the opponents say that it is “tainted,” and they are suing to stop the investigation until after the November elections.

Democratic Candidates Barack Obama and Joe Biden Know: The challenges of campaigning for the most-important elected positions in the United States are extremely demanding. Any candidate embroiled in an ethics or criminal investigation would much rather wait until after the elections are over.

Delay the Investigation until after November 4th and let the voters make up their minds first. Here in the United States of America, each person is innocent until proven guilty. Thus, the very law presumes the innocence of the Republican opponents concerning any or all crimes.

No Law Dictates the Transparency of Our Elected Officials. Historically, Republicans have always proven themselves especially good at keeping back things that they don’t want the voters to know. The Bush administration is currently engaged in such a situation concerning congressional subpoenas over possible political abuses related to hiring in the Justice Department under former Attorney General Alberto Gonzales.

Transparency Plays a Role in the American Historical Legacy. Two excellent examples compare the missing minutes of Republican President Richard Nixon’s White House tapes with the opposite insistence by Democratic President Lyndon Johnson that all of LBJ's administration’s records would be available to history. Warts and all.

Will the American Voters Condemn the Opponent for her lack of transparency? One would hope that they would give her the benefit of the doubt. Innocent until proven guilty: it’s still the law here in the United States of America. Even under the Republicans.


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