vp debate and bail-out thoughts

I was out and was little late to the debate, so I missed the first part of it. I did tune in via radio, and at least on radio, Sarah Palin sounded very nervous. I hurried home to catch about 50 minutes of the debate. Sarah Palin sounded much better on TV…

So…my thoughts on who won and some of the things both VP candidates shared last night…

Sarah Palin did what she needed to do. She sounded confident for most part (at least on TV). She held her own against Joe Biden. There were lots of doubts about Palin, especially after her recent interviews. But she silenced those doubts. It probably has to do with the fact that her interviews were edited, and we did not see how she did in its entirety. The liberal media tends to only show what they want us to see. But she did great last night. I believe she proved that she can handle this job well.

She wasn’t perfect by any means. She did not answer some of the questions directly. She also had few opportunities to nail Obama and Biden, but she chose not to. Was that a part of strategy set forth by McCain camp? If it was, then that’s a wrong strategy.

For his part, Joe Biden sounded very smooth and knowledgable. He knew his stuff. Before the debate, I heard that Obama’s camp wanted Biden to stay low and just go through the debate without showing himself off too much. And he did that. He did exactly what his campaign wanted him to do.

I would call this debate even. But I think Republicans came out better off. Sarah Palin’s performance really re-energized the base. Obama has been leading in the polls lately. But much of that is not so much the increases in his support, but decrease in support for McCain. But I think the momentum will shift the other way. I certainly hope so.

Anyways, since so many liberal media outlets decided to take a cheap shot at Palin for not pronouncing the name of the U.S. General in Afghan…here is my cheap shot at Senator Biden. Senator Biden, you should know that the Article 1 of the Constitution talks about Legislative Branch, not Executive Branch, as you have so boldly stated in your answer about the role of VP. I know you want to emphasize the Executive Branch to lay all the blames for poor economic conditions on Pres. Bush, but your party controls both Houses of Congress. The Founding Fathers wanted to emphasize the role of Legislative Branch from where all of our policies are set. That’s why it is talked about in Article 1.

Real shots at Senator Joe Biden:

1)Under Obama’s Tax plan, 95% of the people will get a tax cut – really? That is not simply possible. Because not even 95% of the people in US pay taxes. If you don’t pay tax, you can’t get a cut, right? Bottom 50% of the taxpayers pay 2.8% of all the taxes. Top 10% of taxpayers pay close to 80% of all the U.S. taxes. Who should be getting a tax break? I am probably as close to the bottom as possible (pastor’s salary), but I know what is fair and what is not. Also, while people may get income tax cuts, Obama will raise taxes on Capital Gains, amongst others. If you make a profit for selling your house, expect to fork a big chunk over to the Feds. He will also drive up the small business taxes. While keeping big corporation’s business tax at 35% (still way too high compared to other nations), his plan will set the small business tax as high as 68%. So you run a business, you make $1.00 profit, you get to keep 32 cents under Obama.

2) Biden keeps blaming Bush’s deregulation policies for current problems – well, Democrats are the ones who blocked the bill asking for more oversight for Freddy Mac and Fanny Mae, because they are so closely tied together with them. Look who got paid off most by Freddy and Fanny (Chris Dodd, Barack Obama, and Joe Biden are top 3). Not only that, it is the government that coerced these lending institutions, with the treat of investigation, to approve loans for people who do not qualify for the loan. No income verification needed. In some cases, illegal immigrants got close to $1 million in home loans. All these started under Clinton and have been fueled by Congress who loved getting paid off by them. Oh, ACORN was involved too…are they still getting 20% of the profit from the bail out plan? They are involved in several voter fraud scandals favoring Democrats, in case you didn’t know.

I can go on…but this post is getting long…so real quick thoughts about Bail-out plan.

The House disappointed me with the passage of this bill. All the credit freeze and scare tactics used by banks to get money worked, I guess. So, taxpayers are on the hook for minimum $700 Billion. By the time this folds out, the bill will be over $1 Trillion.

Was there really an emergency to warrant this bill? I don’t think so. If there was real emergency, congress sure didn’t act like one. If it were a real emergency, why so many tax break codes to sweeten the deal? What started out as 3 page bill originally, ended up being over 100 pages on Monday, which the House rejected. But when the Senate passed it on Wednesday, it was over 450 pages long, filled with special interest tax breaks. Harry Reid praised Chris Dodd for working so hard on this bill. Working so hard? What was he working on? Well, for one, you get a excise tax break on a wooden arrow for children imported from a certain country that is certain size. You also get a excise tax break on Puerto Rican Rum (people still drink rum?). If you do a business on Indian Reservation, you get a special tax break. If you hire an American-Indian, and you are in a certain sector, you get a tax break. What do any of these have to do with the Mortgage and Financial Crisis? These were nothing but sweetners to convince lawmakers who voted against it on Monday to vote for it. And it worked, sadly.

Another thing they sneaked in there. Now you are required when you buy health insurance to get mental health coverage. You can’t just get physical health coverage. You have to get mental health coverage. This will, of course, lead to your premium increase. Some people will be forced to drop their health insurance, because of this increase in premium. Then the Democrats will come back and say the number of uninsured has increased and we must do something about it, pushing for Socialized Medicine once again. See how calculating they are in turning US into a socialist country?

If you were an investor, you would never invest in these junk securities and bonds. But you are forced to, at the price of close to $1 Trillion, because our federal government, who got us into this mess, deemed it good for American taxpayers. And they got us going down the road to Socialism…

Too bad no one is really standing up for Americans. And sadly, not that many Americans know about this. They love the fact that their politicians lie to them. They are so ignorant. I echo the sentiments of Rush Limbaugh, who said that the ignorance is the most expensive commodity we have. It costs us so much money. Ignorance is easy people. Let’s learn the issues and root of everything!

~ by jihoon526 on October 3, 2008.