Congress Declares Contracts Null and Void

Hello nationalization, good bye rule of law! Barney Frank (D-MA) has done it again. Byron York reports in the Washington Examiner that:

"...the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would go beyond the most draconian features of the original AIG bill... the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees ... of companies that have received a capital investment from the U.S. government. It would be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies."

In case any of you missed my post, "The Unconstitutional Congress," I spelled out how this type of ex-post-facto law is unconstitutional. The Constitution of the United States, Article I, Section 9, paragraph 3 provides that: "No Bill of Attainder or ex post facto Law will be passed." Additionally, here is a lovely quote from James Madison:

Bills of attainder, ex-post-facto laws, and laws impairing the obligation of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. James Madison, Federalist 44.

Whether Congressman Frank is attempting to cover up his and fellow Democrats unbelievably incompetence relative to Freddie Mac and Fannie Mae, or they truly believe that Congress can arbitrarily revoke contracts is yet to be seen. In either case, what they are doing is a violation of the basic principals of the founding of this country! Further, if allowed to pass, it will destroy the financial foundation of the United States. Nitro-Pak.com

The United States is economically successful because of its transparency, its commitment to contracts, as well as its protection of private property and the rule of law. However, what we are seeing of this Congress and President Teleprompter is a wanton attempt to destroy the economy of this country. Special Sign Up Bonus: FREE rollover minutes. Order Today!

Allow me to issue this warning today:

Citizens of the United States, if you wish your country to remain the bastion of liberty and prosperity, act now to reign in the blatant, unconstitutional action of this Congress and President. Contact your elected representatives and regularly demand accountability, constitutional action, and an end to destruction of the rule of law. Failure to act will lead to cataclysmic consequences and the absolute destruction of liberty! Pray for our leaders and our country that this Republic will not become the home of tyranny! Great fares to India on Air France!

In case you don't think this behavior is serious, allow me to refer you to the CEO of GM, who, according to President Teleprompter, was fired by the government. Since when did the government have the authority to fire anybody from a private company?? This gross abuse of government authority must stop!

Tax and Spend is not Change

I warned you, Obama wants to spend like a drunken sailor and tax like crazy.

First, the $787 billion "Stimulus" package, and now the Democrats want to spend another $401 billion, with Obama wanting taxpayers to bail out everything from mice to McMansion-owning bus drivers.

How does he and the Congress propose to pay for this massive redistribution scheme? The simple answer since Karl Marx is to tax "the rich." While there is great speculation as to who "the rich" really are, I will stick with some basic facts.

Anybody who is currently in the 36% federal income tax bracket will now be taxed at 39.6% at the expiration of the "Bush" tax cut. Maybe that's too broad of a group so let's look at a more discrete set of folks.

According to the Wall Street Journal (really read this article, its worth it),

Roughly 3.8 million filers had adjusted gross incomes above $200,000 in 2006. (That's about 7% of all returns; the data aren't broken down at the $250,000 point.) These people paid about $522 billion in income taxes, or roughly 62% of all federal individual income receipts. The richest 1% -- about 1.65 million filers making above $388,806 -- paid some $408 billion, or 39.9% of all income tax revenues, while earning about 22% of all reported U.S. income.

Did you get that? The top 2% pay 62% of ALL federal individual income tax. I think that is more than their fair share, especially since they don't get additional services. Further, the top 50% pay over 96% of individual income tax. So, according to John Edwards, we really do have two Americas, those who pay income tax, and those who consume it through government benefits.

Just in case you didn't think you were paying enough, Obama wants to nationalize health care. Haven't we learned enough from the United Kingdom, Japan, and Canada that government health care is not only an atrocious waste of money, but also leads to poorer care??

Citizens and taxpayers of the United States, now is the time to contact your representatives in Congress and demand they stop wasting your money. These massive, and I mean more massive than we have ever seen, deficits spell hyperinflation. That is bad for everybody. Also demand that as a taxpayer, you don't want your taxes funding the 9000 earmarks in the Democrats new budget. In case you support these things, and are in the top 50% of taxpayers, get used to socialism and a declining standard of living, as that is what is happening.

Wake up America! Its happening right in front of your eyes!!