By Richard Mahler
As a child, my parents used to remind me that money does not grow on trees. But, according to the newly elected 111th Congress of the United States, there is not only a tree behind the White House but also an orchard behind the capital building.
Apparently, we can afford four more years of the same. Or is it that President Obama wants to show us how much we can't afford in four more years? Either way, we as the American public are standing silent as our government is slowly slipping away from U.S. In the fall, Congress pressured the president to act due to the impending “recession” to come. Thus, President Bush declared that $700 billion (the bail-out) would be used to acquire damaged bank assets to help ease the credit markets. Yet, when given the authority to do so Secretary of Treasury, Henry Paulson somehow changed his mind saying that the reason for the economic hardships was due to bank troubles. Three hundred and fifty billion dollars later, not one in is better shape than before. On Sept. 15, 2008, Bank of America announced its intentions to purchase Merrill Lynch & Co Inc. in an all-stock deal worth approximately $50 billion, about 86 percent of the Bank of America stock price at close.
This acquisition will make Bank of America the largest financial services company in the world, but not all the grass is greener on the other side. Bank of America, who was one of the only profitable major banking institutions during the so-called “recession”, was pressured by the administration to acquire the damaged assets of Merrill Lynch & Co. This only led to losses in this sector of the quarter, prompting the addition of more congressional funds. It’s easy to blame the institution when it is in trouble, although the trouble was caused by the government’s intervention in the first place. Will someone tell me what good has come out of Congressional involvement in the economy thus far?
Citi-Group, one of the first institutions to gain funds from the US government, is currently being dismantled and sold to the highest bidder. A waste of tax payer’s money? I think so. In the mid 1800’s Karl Marx and Friedrich Engels created the ten planks of the communist manifesto to answer the questions of their beliefs. They are as follows: Abolition of private property, Heavy Progressive Income tax, Abolition of all rights of inheritance, Confiscation of property of all immigrants and rebels, Central Bank, Government control of communication and transportation, Government ownership of factories and agriculture, Government control of labor, Corporate Farms, regional planning and Government control of education. Now let’s see which ones we already have in place.
Abolition of Private Property: The war on drugs has prompted government agencies to establish asset forfeiture laws which allow the agency to take property belonging to someone suspected of being involved (not accused or convicted) with drugs. Frequently the agency is acting on an anonymous phone call. The property is sold at auction for pennies on the dollar and the agency keeps the money. The government also commonly uses eminent domain to take private property for “public” use. Many times the public use is a large corporation like Wal-Mart.
A Heavy Progressive income Tax: A progressive tax means the more you make, the higher the tax you pay percentage wise. If you are lucky enough to make enough money, you may fall into the 50 percent tax bracket. The strongest slaves are lucky enough to carry the biggest rocks.
An abolition of all rights of inheritance: If your parents die without proper estate planning, the government may take half of everything your parents owned before you and your siblings are allowed to divide what is left. This prevents family in future generations from accumulating a significant amount of wealth.
Government confiscation of property of all immigrants and rebels: Anyone who travels internationally must declare whether he or she is carrying more than $10,000 dollars in money, stocks or bank notes of any kind.
Central Bank: The Federal Reserve Bank is a private company and not part of the U.S. government. You can prove this by looking in the phone book at the government agency section for the Federal Reserve office. If you don’t find it there, look in the white business pages. When you control printing of money it doesn’t matter who controls government. The Federal Reserve Act of 1913 is completely, totally and unquestionably unconstitutional.
Government control of communication and transportation: The FCC controls all television and radio in the United States. The FAA, NTSB and every state department of transportation and motor vehicles control every aspect of transportation in this country. You cannot travel without government approval.
Government Ownership of factories and agriculture: The government doesn’t own factories, but its investment into the big three automakers, various airlines and private insurance institutions suggest inappropriate government involvement. The USDA controls and regulates every aspect of the food chain from farm to table.
Government Control of Labor: Innumerable government agencies regulate every type of business. Although there is no formal control of unions they are strongly influenced by OSHA and other agencies.
Corporate Farms, regional planning: In the not too distant past, small families owned most farms. Now they are owned by large corporations and merely leased to the original owners. Every city in the U.S. has a regional planning office, a planning and environmental and or conservation services department and a planning and economic development office. Check your phone book.
Government control of Education: There is no point arguing this one, government controls education. Democrats and Republicans are falling over each other on who has the best plan for the public education system.
How many is that? All ten of the planks of essential Marxism are present in the modern day U.S. government. Thank you regulation and FDR! President Barack Obama is promising more government jobs and regulation on the market; how is this beneficial to balancing the federal budget? I don’t know.
In his most recent appointments Obama has created a new branch to monitor the overspending of the U.S. government within its institutions and other sponsored programs. Trying to stop overspending with a new staff of government officials? Doesn’t that defeat the purpose? With government, Americans seem to be scared to ask questions of their representatives and officials. It would seem that the orchard is getting overworked in the capital; yet, spending continues without dismay or even a drop of sweat on the brow of Nancy Pelosi or Harry Reid. They have recently allocated the last of the TARP funds to Barack Obama, still with no regulation, only with promises to “use the money wiser” than the previous administration. Yet, it was Henry Paulson, not George Bush, who is guilty of misusing the first round of TARP funds. Ask questions of your representative.
Where is the money coming from? How are we paying it back? Where is the end? Since the bail-out, or Economic Re-Stabilization Act began, states, towns and corporations have been lining up outside the capital building asking for a piece of the pie. Unlike our representatives, I do not have the pleasure of giving myself a pay raise. Unlike the representatives, I do not have the luxury of making decisions without experiencing the consequences. Unlike our representatives I make decisions in my life so that I do not live outside my means. I do not make poor decisions that will make others hurt as well.
When the congressmen and women stop trying to fix the problems and actually stop and think about the hurt they are causing, maybe it will be the wakeup call that they should not interfere. But, I am not so optimistic that the alarm will go off in time. All they are doing, much like Newton, is sitting in the orchard watching the apples and the money fall from the trees.