The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.
(H/T – JammieWearingFool)
I’m sure the LeftStreamMedia will find a way to spin this little burb from CNBC saying that the economy shed 298,000 private-sector jobs in August, far greater than the 250,000 predicted. The real bad news from ADP’s historical data – there are 3,487,000 fewer private-sector jobs than there were at the end of January.
(H/T – Stephen Green)
The Hill reports that the AFL-CIO has extracted their price of making the Democratic Party a partially-owned subsidiary of them and is calling for a 0.1% tax on all stock transactions. That’s right; buy a stock, pay a tax. Sell a stock, even at a loss, pay a tax.
The stated reason, according to AFL-CIO policy director Thea Lee – “It would have two benefits, raise a lot of revenue and discourage speculative financial activity.” News flash #1 for Ms. Lee – it was “speculative financial activity” that got the various AFL-CIO pension funds to where they are. News flash #2 for Ms. Lee – that churn produced by “speculative financial activity” creates a lot of cash that is spent at the production end of the economic circle.
Stephen notes that we pay some of the highest taxes on winning stock plays on the planet. For those that held the sold stock less than a year, that profit is taxed at up to 35% (and soon to be 39.6% somewhere over 40%). Tax the losing plays as well, and almost nobody will want to invest in the stock market. Fewer people in the market equals lower stock prices, which equals lower pensions and less money available for expansion.
No wonder the Democrats are sounding desperate and attempting to channel Ted Kennedy. On the same day, President Obama hits a new high in disapproval according to Rasmussen’s polling and the Democrats are at the lowest level in years on the generic ballot.
Obviously, it’s way too early to make much out of this; there is no election to be held tomorrow. However, it’s helpful to note that a year ago the situation was exactly reversed and we all know what happened last November.
If you think my post title is referring to trouble for the Democrats, it’s not. Also noted in Rasmussen today was a poll as to what Republicans think of their Congressional representation. 55% of Republican voters believe their representative in Congress is NOT conservative enough.
I will keep sounding the alarm through next year’s elections. Don’t think that just because Democrats are in trouble that voters will just chose a “R” on the ballot. The American electorate has woken up and are looking to hold their representatives at the state and federal level accountable. If you are and “R” on the 2010 ballot you had better be in tune with your electorate. Don’t assume, know what your potential constituents believe and what they expect from you. If you can’t abide by those expectations, let someone run who can!
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