Top Of My Head

Thoughts on everything from Politics to Video Games

Tag: President Bush

A few thoughts…

  • Fact: Lower taxes do not cause more jobs.
  • Fact: Only twice did lowering the tax rate cause revenues to go up – 1964 and 1981.
  • As long as they’re peaceful, the Occupy protesters have the right to protest.  It is part of the First Amendment of the Constitution. “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”
  • Herman Cain’s tax plan will be bad for the economy.  It will encourage saving, but our economy is based on consumption.  If too many people save or just buy use, our economy will sink further.
  • President Bush didn’t cause the economic and financial crisis and neither did President Obama.
  • Despite what Alan Greenspan might think, liquidity isn’t the same as capital and just because a company has access to money doesn’t mean that they’re on good footing.
  • Easy credit (with the lowering of interest rates) contributed to the financial crisis.
  • Too little regulation and, in some cases, no regulation was one of the causes of the financial crisis.
  • The Republicans running for President do not understand that last statement.
  • Shortsightedness in reaching for short term profits is one of the factors that caused the financial crisis.

Wall Street Journal – The Financial Meltdown

The video is called: End of Wall Street: What Happened. It is supposed to be the first in a 3 part series. Watch it – it is very interesting.

Credit – Bid Laden and the Bad Economy

Reading the comments on any news site is like traveling through a verbal minefield. Those on the right want to blame President Obama for our bad economy and those on the left want to blame former President Bush (George W, not George Herbert Walker). Then, regarding Bid Laden’s death, those on the right want to give credit to former President Bush (again, G.W.) and those on the left want to give credit to President Obama.

Both sides are wrong.

Admittedly, I don’t know a lot about the capture of Bin Laden – but, that’s not going to stop me from commenting. Here’s what I know based on various news reports.

I know that he was found in Pakistan. I know that at one point Pakistan was our “friend”. At some point, we decided that we needed more CIA operatives in Pakistan and we put them there. Eventually, these extra operatives were able to find out the necessary information on Bin Laden’s whereabouts and that is when President Obama was brought fully into the loop (Please don’t fool yourself in thinking that the CIA shares every bit of information with the President, they don’t.) and he made the decision to go and get Bin Laden.

Intelligence gathering takes time, just in case you don’t know. If the information had been gathered four years ago, Mission Accomplish would’ve rang true for Bush II, but it didn’t. Should President Obama be allowed to bask in glory of having found and disposing of our nation’s greatest enemy on his watch? Damn straight he should. Give the man his moment in the sun. He gave the order, he approved the mission. If it had failed, he would’ve taken the blame (remember Carter?). He, along with our fine Navy Seals – take that special forces (what can I say, I’m a Navy brat) – should feel proud for this successful mission.

Now, I would like to say one more thing. Former President George W. Bush is not dissing President Obama by not appearing at Ground Zero with him. He’s doing exactly what he said he would do: stay out of the spotlight. With the exception of his book tour, Bush has stayed away from being center stage. His father did it during Clinton’s presidency and now, George W. Bush is following in his father’s footsteps. He’s doing what the right wing doesn’t want done: He’s giving Obama his day of glory. I think that’s very nice of him.

Now, about the economy. Here’s a very short economic history lesson:

The repeal of the Glass-Seag­al Act in 1999 by the Gramm-Leac­h-Bliley Act started the financial mess (by removing the barrier between Wall Street investment banks and depository banks. This led to the sub prime mortgage crisis, which nearly brought this country to it’s knees. For the record, the Gramm-Leac­h-Bliley Act was sponsored by Republican­s and signed into law by a Democrat. Both parties are to blame.

Now, I believe that when you coupled the Gramm-Leach-Bliley Act with Bush’s ridiculous tax cuts for the rich, you just added fuel to the fire. Profits became king, which made the banks and Wall Street take even more chances. However; I am not saying that the Bush tax cuts were the sole reason, just that they exasperated the situation. I am not sure what the tax cuts would’ve done to our economy without the repeal of the Glass-Seagal Act.

In other words, and I’ll say it again, both parties are to blame.

You know who isn’t to blame?

President Obama.

No matter how you slice it, you can’t lay the blame of a bad economy at the feet of a man who wasn’t in power when the economy started to tank. Even though I don’t believe Bush caused the bad economy, there’s at least some cause and effect there and precedence for blaming him. Remember, Carter was blame for the bad economy he inherited from Ford and Reagan was blamed for the bad economy he inherited from Carter. (The 70’s and early 80’s were just a bad time.) In fact, I don’t think Reagan would be so beloved today if he had to deal with the 24 hour news channels and the bloggers like Obama does. But, that’s for another blog.

So, in a nutshell, let’s stop all this petty bullshit and start actually working together. Let’s stop shouting crap at each other and start crossing the aisle. Neither side has a monopoly on what’s wrong for our country and neither side has a monopoly on what’s right for our country. We’re never going to get anywhere if we keep hoping the President fails or slam him all the time. We can’t solve any of our problems talking about those blowhards, Palin and Trump – two people who couldn’t be elected dog catcher to the stars. Let’s start having open dialogues about the issues with some facts, not falsehoods and let’s figure out how to solve our problems. We didn’t kill Bin Laden without some cooperation on both sides and we won’t be able to fix the economy without it.

Tax Cuts and the Rich Republicans

Pay attention – the economy is improving.  Things are getting better.  We are on the right track.  But, if we turn the reins back over to the Republicans, all we’ll hear about for the next two years are cut taxes and gay marriage.  This group of Republicans are probably making Ronald Reagan roll over in his grave.

There entire goal is to be re-elected and once re-elected, it will be pro-business, anti-worker as usual.

Case in point, House Minority Leader John Boehner has said that he will back  “President Barack Obama’s proposal to renew the expiring Bush tax cuts only for those making less than $250,000 if it were his only option.” (Quoted from CNN)  But, that’s not good enough for the rest of his party.

Senate Republican Leader Mitch McConnell thinks that no one should pay any higher taxes next year.  McConnell, also, believes that the people hardest hit in this recession were those who made more that $250,000 per year.  Seriously?  There were a lot of homes in foreclosure in my neighborhood – not one of those families that lost their homes earned more than $250,000 per year.  The people hardest hit were those in the middle and on the bottom rungs of the ladder, not the fancy quarter of a million dollars a year people.

Eric Cantor – R-Virginia – proves that he’s a stand up guy – for the rich:  “I will do everything in my power to stop President Obama and Speaker Pelosi from raising taxes on working families, small business people, and investors.”  Nobody said they wanted to raise taxes on working families – just those people earning more than $250,000 per year.  And, think about that — that’s NET not GROSS.  I know small business owners and they don’t make more than $250,000 per year.

According to Obama, extending the tax cuts for those making more than $250,000 per year will cost the government $700 billion – which would go a long way to fund our military, our schools and put Social Security back on the right track.

The bottom line is this:  Bush gave a huge tax break to the wealthy.  The wealthy in turn said thank you very much and began laying off workers.  Even though the economy is improving and business profits are up, the wealthy is still saying, “We’re not hiring.”  Companies, like Harley Davidson, are asking for drastic concessions from their workers and not promising a thing in return.

Let them pay the higher taxes — they haven’t been hiring with the lower taxes – maybe this’ll give them the swift kick in the rear that they need.

Harriet Miers

Wow! What a difference a week makes!

Harriet Miers has withdrawn from being a Supreme Court Nominee. Hmmm, I’m kind of bummed, because the woman was growing on me.

Yes, I know that I did not support her nomination. I’m not going back on that. I still did not like the idea of someone without any judge experience being nominated for the Supreme Court. However, since I wrote that post, I have received emails from both the right and the left stating that Harriet Miers should not be a Supreme Court justice. Well, if she has both sides this upset, then she’s a pretty good choice in my eyes.

Now, this withdrawal of hers bothers me. Does this mean Bush will now go with someone who is extremely right wing? And, what is wrong with finding a judge that knows the consitution and sticks by it? Both sides should be happy with that, shouldn’t they?

Except, it all comes down to abortion and gays. Abortions shouldn’t be allowed and gays shouldn’t be allowed to marry.

But, does the constitution even address either one of these issues?

Now, I happen to be against abortions. I waiver only if it is used to save the mother’s life and how often does that really, truly happen?

I am for gay marriages. I think this marriage is only between a man and a woman stuff is just stupid. If someone could come up with a legitimate, non-religion based argument of why gays should not be allowed to marry, I would gladly listen. Until then, gays should be allow to marry, period — end of discussion.

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