Can Corporate America Help Defend America? If They Care About America!

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Can the incompetence of Congress, the indifference of the Obama administration and the impotency of the political parties, both Democrat and Republican, open the door for the American capitalist system to do what the others choose to neglect?

Two things are clear this election cycle.  First, politicians have no intention of stopping the influx of millions and millions of corporate and union dollars into the political process through Super Pacs and all the other gimmicks that have been left untouched by our elected representatives in Washington, D.C.

In spite of the universal complaints by leaders of both parties about our broken campaign financing system, nothing is being done about it and nothing will be done about it this year because the same politicians expect to benefit from the Super Pacs.

The second thing clear this election cycle is that the news media, especially network and cable television and the vast Internet, have totally crossed the line between defending the First Amendment right to a free press and using the free press argument to distort the news media reporting.

In other words, our TV and Internet companies have dropped all pretense of being fair and balanced in their coverage and instead have become ideological piranhas whose defense of their particular liberal or conservative philosophy sees no problem in distorting stories, taking any statement out of context, and smearing anyone they don't like in an effort to destroy their career.

Like it or not the media has decided they want to manufacture your news just like the politicians want to manufacture what you should believe about government.

Congress was supposed to be a watchdog for the people to keep an eye on government.

The political parties were supposed to be the watchdog for the people to make sure political partisanship did not dominate fair government.

The news media was supposed to be the watchdog for the people to make sure the politicians and political parties were not manipulating government for their own partisan purposes.

All now have their own agenda, it is not fair and balanced, and it is entirely self-serving.  Who is going to protect the people from all our toothless watchdogs?

The lesson is clear, MONEY now rules in America.  The politicians, political parties and news media are hopelessly addicted to money and live to serve money.  Much of the private sector is a willing partner to this national disgrace and use the politicians and parties to get what they want, that is make more money.

For example, we have all heard the Democrats and ideological news media like NBC or the NBC puppets like MSNBC use an endless stream of liberal reporters and outcast conservatives who have sold out the conservative cause to maul Mitt Romney, the only candidate for president who is neither a professional politician nor dependent on the government or media to make money.

The way every word Romney says is taken out of context and every policy is distorted by the NBC mouthpieces is ludicrous and the various NBC programs proudly interview a select gang of liberal assassins to annihilate the Republican frontrunner.

Yet the very same NBC is owned by General Electric who made $15 billion profit last year and paid not one dollar in taxes.  Romney made $21 million personally and paid 15% in taxes, then gave 15% more to charitable causes.

How can he be a suspicious rich elitist in the eyes of the NBC media and many others like CNN when he pays far more in taxes than the corporate giant that owns NBC, who made $15 billion and paid NO TAXES?

Who is it that most benefits from the Obama administration and their push for "Green" environmental and energy causes while refusing to fix our ridiculous tax code that gives unconscionable tax breaks to corporate America?  President Barack Obama, who made the CEO of General Electric his appointed liaison to the business community.

The statutory federal tax rate for big corporations in America is 35%, among the highest in the world.  GE makes a $15 billion profit so, if the federal tax law was really the law, GE would pay $5.2 billion in taxes, 35%.  Yet thanks to Congress and our benevolent president they pay NOTHING.

What does our president says about this.  NOTHING.  But he does say billionaire Warren Buffett's secretary pays more taxes than her billionaire boss.  To be correct, she pays a higher rate but no where near as much in taxes as Buffett.  If Obama compared what she pays to what his political corporate benefactor GE pays it might be a little more honest.

Now corporate America can change the way business is done in the media.  It can help protect the people from the politicians, political parties and news media.  There is no law that forces corporate America to spend advertising dollars with the very media who are trying to control the national agenda.

America, even the liberal media, are dependent on advertising dollars to keep their stranglehold on the direction of this country.  Corporate America should use the most valuable contribution they have to make, their money, to balance the political playing field.

Stop advertising on media that distort the news.  Stop patronizing networks whose agenda is undermining the principles of freedom in AMERICA.  Stop underwriting the Internet social networks that are stealing every last freedom in America by trampling on citizens rights to privacy.

Corporate America is being painted as a villain by liberals because of their money, so use the money to bring fair and balanced news and reporting back to America.  Stop advertising and you will stop the bitter politics, stop the lies and distortions that now dominate our political debate, and stop the hijacking of America.

Defending freedom is not just the responsibility of the people, or the military on behalf of the people.  It is also the responsibility of corporate America who benefits from the capitalist system empowered by capitalism, which is empowered by our Constitution.

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Obamaville January 24 - The Millionaire's Club

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With the President about to come on television and give his State of the Union address tonight I need to get a few thoughts on paper regarding the presidential c ampaign.

Last night we had the 18th out of what seems like 40-50 potential debates between the GOP candidates and if nothing else, it was quiet by comparison to the others.  What a change when the normally rowdy audience has to be quiet.  It was like March Madness without cheerleaders.  Eerie...

In the last 24 hours Gingrich released his contract with Fannie Mae and Romney released his taxes for two years.  Considering the massive hype by the media in demanding the information, most analysts had no clue how to analyze the information.  How could they, they didn't know anyone but Buffett could make that many millions a year.

It seems it took about 400 pages for the Romney taxes to get done under the existing tax laws and the jealously among liberal pundits was obvious.  After reviewing the material all day they are still distorting the information, twisting the facts and mangling the analysis.

Of course that is minor compared to the outright lies by Democratic spokespeople but lies have become institutionalized under the current Administration.  So let me just ask this because I think Obama is a nice guy but ill-prepared to be president, and that is after three years on the job.

Why is it nearly every single Obama economic policy staff member he brought into his Administration is gone, disappeared, silenced?  Why is it the only economic mouth piece for the president are political hacks from the campaign, and not an economist from the White House Council of Economic Advisors?  And why is a multi-zillionaire from Omaha the only economist the president mentions?

Now I like Buffett and I lived in Omaha but he doesn't work for the president, he seldom talks to the president, and even he must be wondering after three years what in the heck is the kid doing in the White House?

About the Romney return, he may not be Buffett but he is definitely the richest candidate for president since John F. Kennedy and I am delighted we finally have a candidate for president who can't be bought because he has all the money he needs.

Obama, the Democrats and even the Republicans have been talking about the need for tax reform.  So why has nothing been done for the last three years?  As I recall, Obama and the Democrats had veto proof majorities the first two years, and controlled the White House and Senate all three years.  So what is the problem?  Probably the same problem as the fact the Democratic controlled Senate has not passed a federal budget for over 1000 days, sheer lunacy in these trying times.

Romney paid about $3 million in taxes and gave $3 million in charitable contributions in 2010, and did about the same in 2011.  Like I said in an earlier article, he gave more to charity than all the other candidates and Obama combined.  Virtually all his income came from investments, was not earned income under tax laws, so it was taxed at 15%.  There is nothing in his return to raise any questions, only jealously from political and media pundits.

I would think the American dream would be for anyone to have been so successful in business that they make $21 million a year from investments, investments in many other companies in our country.  Still, the Democrats will condemn it.  For some reason "making it" in America is a bad thing.

As for Gingrich he may have more to explain than his super rich opponent.  Newt made well over $1 million with a consulting contract with Freddie Mac, the agency behind the collapse of the housing market.  While Freddie was driving more people into foreclosure than any time in our history to the tune of hundreds of billions of dollars in tax losses, Gingrich was walking away with over $1 million.

Now I agree with Obama on one thing, only the super rich can tell us how to fix the tax code.  Obama has Buffett and I have Romney.  The question we must ask is do you want someone outside the government making these monumental decisions like Buffett, or do you want someone in the presidency who has the knowledge and experience and works for the people of the United States?

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Obamaville - Campaign 2012 - A Millionaires Delight?

With just two days until the GOP primary in South Carolina a new player has unexpectedly joined the Republican fracas as the Obama White House has officially broken a promise to stay on the sidelines of the GOP primary politics.

Apparently the Obama advisors just can't resist a chance to influence the vote and for the first time this election the White House Press Secretary, Jay Carney, used the podium of the White House to blast Mitt Romney over his personal income tax comments.

To be fair, Romney was left unprotected and unprepared by his campaign staff on the issues relating to releasing his income tax records.  For a campaign that has maintained a sharp focus on the economy for the long haul and the battle against Obama for the presidency, this was a serious media blunder.

Sensing blood in the wind, the Chicago gang of Obama simply could not resist joining the effort to distort and smear their probable opponent.  In perhaps a blunder on their own part, it was rather odd they left the hatchet job to the White House Press Secretary, paid for by US tax dollars, when all the good Obama mouthpieces are with the campaign and not on the government payroll.

But then they also have President Obama, also on the taxpayer payroll, racing around the country raising hundreds of millions of campaign dollars while acting like a president.  In another related development the Obama campaign is starting to air political campaign commercials in battle ground states even though he is unopposed and the GOP opponent will not be selected officially until the end of August.  By my calendar that is still six months away.

So Romney comments on his probable tax rate of 15%, speakers fees of $300,000 and is ill-prepared to defend his right to be successful, make a lot of money, and be an example for others.

Carney used the White House podium to say Romney is evidence of the need for the millionaire's tax to prevent the rich from paying lower tax rates than middle class Americans.  This is what he had to say.

“The president feels very strongly that everybody needs to pay their fair share and that everybody, therefore, gets a fair shot at the American dream,” the White House press secretary Jay Carney said at his press briefing.

"That includes millionaires who might be paying an effective tax rate of 15 per cent when folks making $50,000 or $75,000 or $100,000 a year are paying much more,” Mr. Carney added.

Though he tried to keep Obama out of the fray by saying his comments were not "specifically" discussed with the President, anyone with any knowledge of the workings of the White House knows nothing is said by the Press Secretary without the approval of the President.

One might consider this politics as usual but there are a couple of potential issues that might benefit Romney as his taxes are released.

First, most of his income came from investments, not salary, just like Obama advisor Warren Buffett and most millionaires.  There is a fixed tax rate of 15% for such income so that is the law.  Romney has supported comprehensive revision of the entire tax code.

While the capital gains tax, which is lower than individual tax rates, favors the wealthy, it was set up to encourage the investment of such funds into building businesses which generates jobs.  If anything, reinvestment in America seems to be a good thing.

Romney is the only presidential candidate who has called for a means test to limit capital gains to only the rich, $200,000 plus income.  The media and political pundits forget that many Americans are subject to this tax for their mutual funds and other investments.

According to U.S. News almost half (42%)  of all Americans use 401(k), IRA, Keogh or other type of retirement account.  A record low 23% of Americans expect to receive pension income, while 20% expect stocks and mutual funds to be a major source of retirement income.  Withdrawals from retirement accounts are taxed as normal income while stocks and mutual fund withdrawals are taxed at the lower capital gains rate.

In addition, when the Romney taxes are released don't be surprised if it shows Romney gave more to his church than anyone else, quite possibly more than all the other candidates and President Obama combined.  His other charitable contributions may also dwarf the other candidates.

Taxes are complex.  There are thousands of pages of US tax code.  It needs an overhaul but attacking classes of taxpayers and calling for the redistribution of wealth is no way to achieve it.  All candidates and both political parties must work together to make the system fair and just.