Jack Welch, former CEO of GE was on the news this morning.
Tax policies and business climate in the state of Rhode Island depict what would happen in the United States if the Obama tax plan takes hold.

Rhode Island has the highest business taxes in the nation, and as such no business wants to be in Rhode Island. M

Who’s going to create jobs? McCain or Obama?

Perhaps the grocer, the baker, or the blacksmith needs some help.

Not according to Adam Smith. By pursuing my own self interest (?happiness?), I find the employment (work) that I am most happy performing and as such am able to contribute to society in a fashion that is most productive to society and happiest for me.

As Adam Smith described:

“Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer employment which is most advantageous to the society . . . . [H]e intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.” — Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, bk. IV, ch. 2, 397, 399 (D.D. Raphael ed., 1991) (1776).

Selfishness is a virtue. Thank you Hugh Hewitt for the reminder, and thank you Ayn Rand.

Also referred to on the Townhall site is this Milton Friedman interview by Phil Donohue:

But does Obama really believe that? He’s been talking about it for over 8 years,

Obama beleives that the processes and decisions you make in managing your day to day life is a governmental administrative task that they are better suited to make.

More like abomination. Obama wants to write checks for tax cuts, and give them to people who don’t pay taxes.

He says McCain has it wrong. People pay all kinds of taxes and may not pay federal income taxes.

Technically true but; What kinds of taxes is he talking about? Sales Tax? Isn’t that a local tax. Used to support State and Local programs. How can the federal government refund those taxes?

Easy: They can’t.

So where will Obama get the money to give tax cuts to people who don’t pay taxes. Well from those who do, of course.

Obama funds his programs...

Obama funds his programs...

So what does Obama have in store for us?

Why is Barack Obama unable to separate politics from putting America first? Obama claims he is not able to be a candidate and keep the countries interest first at the same time. I thought it was Obamas’ idea? Didn’t Obama say that he contacted John McCain first? It wasn’t that long ago, did he forget? And how can his campaign say that John McCains desire to postpone the debate, put the country first, and work to address this disastrous issue a stunt? Does he think the American public stupid?

Dodd, Kanjorski, Frank, and Obama Richer, You aren't

Dodd, Kanjorski, Frank, and Obama Richer, You aren't

So how did all this happen? Our Wall Street financial institutions are in deep trouble directly because of the housing and mortgage crisis, namely Fannie Mae and Freddie Mac. This problem has cascaded from the mortgage crisis to just about ever area of our financial system. A system we all depend on. So how did Fannie Mae and Freddie Mac get into trouble?

This all started back in 1977 when Congress and President Carter signed into law a bill titled the Community Reinvestment Act (CRA), it was later modified by the Clinton Administration in order to create mandates on banks and mortgage houses to provide “opportunities” to those wanting to buy a home but couldn’t under standard mortgage practices afford them. A cleaver way to give hand outs to the poor. (Once again the road to hell is paved with good intentions) The majority of these mortgages were provided by, you guessed it, Fannie Mae and Freddie Mac. These organizations hold about half of all the housing loans in the United States.

On September 11, 2003 George Bush and the administration recommended significant regulatory overhaul to the housing finance industry, specifically Fannie Mae and Freddie Mac. The new regulatory agency would be able to regulate and determine whether Fannie Mae and Freddie Mac are adequately managing the risks of their ballooning portfolios, which at the time was well over 1.6 trillion dollars. In the article is said:

There is a general recognition that the supervisory system for housing-related government-sponsored enterprises neither has the tools, nor the stature, to deal effectively with the current size, complexity and importance of these enterprises,” Treasury Secretary John W. Snow told the House Financial Services Committee in an appearance with Housing Secretary Mel Martinez, who also backed the plan.

At the time, Barney Frank aggressively thwarted reform efforts by the Bush administration and prevented its passage. Since then Frank has been quick to blame republican deregulation. “Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac”. We all know, Barney Frank ought to be under investigation as well. I say hang him now.

Prominent Democrats ran Fannie Mae – Yet the media won’t report that.

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

Fannie Mae and Freddie Mac Invest in Democrats

John McCain and other Republicans attempted to prevent this issue years ago, but were stopped by the Democrats.

Speech is only free if it furthers the campaign and election of Barack Obama. Is it any wonder why so little about his relationships with Antoin Rezko and Bill Ayers has reached the media. Oh, that’s right. The MSM (ABC, NBC, CBS) are all part of the Obama campaign.

So now they (Obama’s campaign and the MSM) are trying to silence David Freddoso, author of the book “The Case Against Barack Obama: The Unlikely Rise and Unexamined Agenda of the Media’s Favorite Candidate.” As a public service, I’ll list the chapter titles of the book here.

In his book the chapter lineup is as follows:

Introduction: The Rhetoric vs. Reality
Chapter 1: Obama and the Chicago Machine – Not a Reformer
Chapter 2: Obama Games Springfield
Chapter 3: The Accidental Candidate
Chapter 4: Obamessiah
Chapter 5: Obama in Washington – Still not a reformer
Chapter 6: The Stealth Liberal
Chapter 7: The Radical Influences
Chapter 8: Reverend Wright and Obamas Faith
Chapter 9: Obama’s foriegn Policy – Inexperience and Uncertainty
Chapter 10: Abortion: Barack Obama’s America
Chapter 11: Pinstripe patronage: Obama takes care of his friends

The video below give you some idea of who Baracks associates are, and what they left behind in Chicago.

Be sure to visit http://www.obamatruth.org/.

Excellent explanation about where money comes from. It’s about 40 minutes and well worth the watch. If you watch it, think about what happens to our system, when millions of borrowers are given loans when they couldn’t afford to pay them back. (i.e. No Doc Fannie Mae, Freddie Mac)