Obama’s Economic Plan
By Lady Lynn Forester de Rothschild on November 2, 2008 at 3:20 PM in Barack Obama, Bill Clinton, Democratic Party, Democrats, Economy, Lynn Forester de Rothschild, NAFTA, Republicans, Workers
Reprinted from Huffington Post with the express permission of Lady de Rothschild. Lynn will open today’s “Closing Arguments for McCain/Palin” conference call at 5:00 p.m. ET.
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In a stunning about face this week, Barack Obama announced that “I’ve got an economic plan that is similar to Bill Clinton’s.” On its face, this would mean that, if elected, Barack Obama would raise taxes on all taxpayers, support NAFTA and reduce welfare, three cornerstones of the Clinton economic legacy. This would be a serious reversal of Senator Obama’s campaign promises and his stated policies.
Other than a crass attempt to hitch his fate to the Clinton star, the comment highlights the serious risk to our current economic situation that is posed by Barack Obama’s pledge to raise taxes on the producers of jobs and capital, increase welfare and abrogate our commitment to NAFTA. These policies create a serious probability of leading our economy into further economic dismay.
Barack Obama is wholly disingenuous in implying that his tax policy will have the same success as the Clinton policy when, in fact, the economic environment inherited by Bill Clinton was vastly different from today’s economy.
Obama’s assertion is similar to saying that because an aspirin cures a headache it will do the same for cancer. President Clinton benefited from an economy that grew by 4.2% in the first quarter of his Presidency, the Dow was up 5.8% for the year prior to his election, total national debt was 54% of national output and information technology was in its infancy. Tax rates inherited by Clinton had been reduced by 60% under Reagan and Bush Senior since the Carter years. When President Clinton increased taxes, he simultaneously brought our national budget into balance in sixteen months. He signed NAFTA against the will of his own party.
Yesterday, the country’s growth contracted by .3%, providing one-half of the technical verification of the recession being felt around the country and certain to be inherited by the next President. The Dow is down 32.5% for the year, our national debt is at nearly 70% of total GDP (after WWII national debt was 102% of GDP and America was at the beginning of its stunning economic success). Currently, unless investors are able to forcefully advance new energy technologies, there is no analog to the 1990’s information revolution which can give us the necessary economic stimulus for innovation and job growth.
Supporters of the Illinois Senator not only ignore the current fragile economy, but also the obvious consequences of Obama’s opposition to NAFTA and his destructive economic philosophy. In fact, Senator Obama’s policy of higher taxes and higher tariffs for our fragile economy at this time is exactly the wrong direction for the country.
One of the reasons that Barack Obama could well lose on Tuesday is because voters are beginning to realize that his policies will tank the economy and the markets. The stock market looks forward, not backward, and there is a direct correlation between the declining Dow and the increasing poll numbers for Barack Obama. According to the June Gallop Poll, by a margin of 87 to 13, Americans care more about improving the economy than they do about redistributing wealth.
According to his rhetoric, Barack Obama is helping working Americans. In fact, John McCain offers bigger tax breaks to the working class than Barack Obama. (The only reason you do not know this is because you have not looked at the fact that no one earning under $50,000 will pay any tax under John McCain and, on the famous “Obama Taxometer”, the untruthful Obama campaign does not include the $5,000 health care tax credit that John McCain in giving to every American). Moreover, almost 75% of Americans making $100,000 have some capital gains. As the value of their investments turns negative they will suffer badly, even if Barack Obama does not raise their taxes. A declining economy is bad for everyone.
It is dishonest for Senator Obama to claim he will fix this economy by taxing the top 5%. His spending increases on programs alone amount to $300 billion per year. The dishonesty is to say that this will be paid by his tax on the top 5%. It is simply not possible. As the Obama plan makes clear, the additional taxes of the “rich” have already been committed to his “refundable tax credits”. According to the Tax Policy Center, the Obama tax plan will take $70 billion from the top 5% of earners in the country and redistribute it to the 60 million Americans who pay no tax.
Senator Obama’s economic philosophy will make America neither stronger nor fairer. Today, the top 1% of earners contributes 40% of the nation’s $2.6 trillion tax intake and the bottom 50% pay 2.9% of our nation’s total needs. This is in contrast to the 17% of total tax paid by the top filers under the Carter Administration when the top marginal rate was 70%. It has been shown that reductions in tax rates increase tax revenues because incentives to private enterprise strengthen the economy and create jobs and a larger tax base.
As he exploits the current widespread economic uncertainty in the nation and blames the richest, Barack Obama not only ignites an insidious class war, but also ignores the inconvenient fact that America’s top earners have paid double in taxes since the reduction of their tax rates under George Bush. Namely, in 2003 the richest Americans paid $136 billion in taxes and after the tax cut in 2006 they paid $274 billion. Times of economic uncertainty are exactly when our government needs to cling to business and the generators of wealth and jobs, not use them as scapegoats.
Along with my Democratic “friends,” I used to make fun of Republicans by saying that they lived in an “evidence-free zone.” Well, I now see that it is the Democrats, swept away in the “narrative” and “transcendence” of Barack Obama, that are refusing to look at the facts about the likely consequences of electing Barack Obama. The same media outlets that failed to vet the Iraq War are now failing to vet Barack Obama. Unfortunately, they will never accept responsibility; it will be our country that takes the hit. For me, that is very sad.
John McCain may not be the most eloquent or sexiest candidate in this race, but he is the candidate who will best serve this nation for the next four years. He is reducing taxes for all Americans further than Barack Obama, cutting federal spending and encouraging free trade and energy independence as engines for domestic economic growth. More importantly, he and Sarah Palin actually have a record of taking on the vested interests and their own party (while working with Democrats) to make tough decisions. I have yet to be shown the same evidence of the junior Senator from Illinois.
Regrettably, the road kill of Obama’s reckless rhetoric and policies is not the rich taxpayer, but the entire American economy. The pain will be felt mostly by those who lose their jobs in the economic downturn and are the owners of 401ks and other savings who suffer at the stock market continues to decline. Barack Obama has not been held accountable for the obvious consequences of his tax and trade philosophy and policies. If elected, it will be all Americans who will suffer.
PS. Most readers have probably not read this far into the piece, but if you have, I have one more comment…..Since speaking out about this election, I have seen the Obama response is to attack me personally, particularly on the Internet. Fine, but just to let you know, eighteen months ago my husband wrote in the Financial Times that capitalism was in retreat because of the greed on Wall Street. We have subsequently invested only in tax-free government securities. So, my opinion is not driven by my economic interests. I am driven by what I said in the New York Times in June, “I love my country more than my party” … and it is ok with me if you hate me. xoxoxo
Related: Lynn Forester de Rothschild: Barack Obama’s America
(small, medium and large sizes; for both dogs and cats)
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How convenient for Obama to use the Clinton’s now. If I remember from my supporting and voting for Hillary days. Obama is the same person that insulted Bill Clinton’s presidency every chance he got and made Bill Clinton’s name (with Clyburns help) synonimous with racist. Now that he needs to refresh our memories in the last hours about the properity during the Clinton administration, he HAS THE AUDACITY to use the Bill Clinton presidency. IS THERE ANYONE THAT BARACK OBAMA DOESN’T USE, FOR HIS OWN GAIN?
IS THERE ANYONE THAT BARACK OBAMA DOESN’T USE, FOR HIS OWN GAIN?
If there is we haven’t found the person.
I remember him saying that Hillary was wearing Pink Color Glasses when she looked back at the Clinton years. What a pathetic, pandering ahole Barry is using anything and anyone if it makes him look good. I can’t stand that guy.
obamamessiah — I think Obama has finally realized that he needs the Hillary Democrats to win. Screw him.
It’s too late! Once Hillary announced she was dropping out of the campaign, I immediately ran to John McCain because there was/is no way in Hell I was/am going to vote for Obama.
I listened to what he said during the Primaries and I read between the lines of what was coming out of his mouth and I didn’t like what I heard. There was/is something just not quite right about him.
To quote Lady de Rothschild again: “I don’t like him, and I don’t trust him”.
That he’s sucking up to Clinton supporters is a good sign. I pray to God he loses PA after disrespecting Hillary and then picking Joe Biden from Scranton. It showed Obama was weak in that state to begin with. I don’t believe the latest polls. I think with the PUMA voters, McCain can win PA and win the election.
Oh, his AUDACITY is unbounded. Someone needs to kick Obama’s sorry a** from here to Sunday. If any President is going to implement Bill Clinton’s economic policy, it will be President Hillary Clinton.
Obama is a scummy twerp, do anything, say anything to advance himself.
Actually, one of the things that scares me about him and his “homeies” in the Democratic Party is that they think they can just put a puppet in the WH and then adopt Bill Clinton’s policies and be popular and successful. But they are all not smart enough to understand Bill Clinton’s policies and Obama will be a disaster.
Don’t forget, during the Clinton years the Republicans were in control, not the Dems. With President Clinton crossing the aisle and working with the Republicans that is the reason President Clinton was so successful in turning the economy around. He could work with the Republicans - Obama will not work with congressman/woman unless he/she is a Democrat.
With Obama and the scary scenario of the Dems controlling both chambers, our economy will be a total disaster. Nancy Pelosi has already signaled their plans for inflated spending and expansion of the government.
Lynn wrote this? Awesome! Great writing style. I read the whole thing.
We all know Bill Clinton. Obama is no Bill Clinton.
Is Obama in a panic? He blamed the economy on Bill Clinton during the primaries and new he’s going to have a similar plan to Bill Clinton’s administration? WTFing hell kind of drugs is Obama on?
An “Obama plan” is an oxymoron. He flips so much who knows what the fark he will do. That being said, the “plans” he has suck anyway.
Mr. X — Obama just looked at the Internal Polls in Pa. McCain 53% Obama 33%. PA Dems McCain 37% Obama 47%. PUMA is looming large in this election.
W00T on that poll!!!
and
Lynne we LOVE You!!!
I love the aspirin analogy too!!! Perfect!
It’s great that you and others are standing up!!
I am a PUMA4PALIN and I stand with YOU!
Can’t wait for 5pm!
how do you know…are these numbers for real?
Obambi isn’t Hillary Clinton either!!!!
I love Lady Lynn..I think they should give her Oprah’s show she would be great and bring class to another wise classless show….Don’t go away after the election lady Lynn we need you.
0bama tries to co-opt everything the Democratic Party has tried to do or stand for. This is an overt attempt by Marxists to take over the Democratic Party.
Lady Rothschild is right!
And… not only is 0bama planning to wreck the American economy… he’s already in line to destroy the Democratic Party finances in 2009:
OBAMA HANGOVER-DESTROYING THE DEMOCRATIC PARTY WITH EXCESSIVE DEBT!
Comparing gays to pimps and whores?
Classy.
Please don’t link to such blatantly homophobic sites in future.
LOL.. The guy has great points to make and your squabble is over his moral opinion about gay sex?
The Thought Police in action.
And I’m gay, btw. It doesn’t bother me.
You know why? I know who am I. So I obviously do not care if I’m an exception to someone’s generalization.
I’ve been wondering about that–if there is any amount of illegal donation cash, how is the DNC going to make it up?
Good, if the Democratic Party is destroyed, we’ll need a new party and the PUMAs are just the people to put it together!
I am not one bit surprised by the huge debt Obama is leaving for the Dems to pay. I can’t wait to hear the wailing and gnashing of teeth from Howard Dean et al. It couldn’t happen to a nicer bunch of people.
Thank you so much Lynn for being the star voice of PUMAS. This is an outstanding article. Obama is a sickening fraud and a liar. God help this Country if he’s elected.
[Ad hominem foul-mouthed insults are not tolerated. Admin]
Not nice.
ADMINL: Someone shit themselves in aisle :
Comment by otto | 2008-11-02 15:36:40
otto….nobody owes any candidate his/her vote.
That should be earned.
Those of you who don’t get that are simply entirely naive about politics.
“I love my country more than my party” … and it is ok with me if you hate me. xoxoxo
Lady Rothschild, there is no way that we hate you, My wife and I voted for our country not for our party also and for the first time.
Otto go troll somewere else. I to am a turncoat. As some of you have felt that the bush republican party was not your republican party. Well this, democratic party under Dean, Pelosi, Reid is not our democratic party. So please stop insulting those of us that are voting for Mccain and Palin because we are putting out country first.
Great post Mrs Rothschild.
Did anyone see on Hannity about Ayers dedicating a book to Sirhan Sirhan. I am sorry, but if I were the Kennedy’s I would take back my endrosement of Obama. As Colmes would say, your making Obama guilty by association. Your damn right. If anyone I support is friendly even from a far, with someone that is deidcating a book to the person that murdered one of my family members. ALL BETS ARE OFF INCLUDING MY SUPPORT!!!
NO kidding. I can’t believe at least Kathleen and Robert Kennedy didn’t make a statement. It’s absolutely revolting.
Ted is his brother and Robert, his son! They and all the Kennedys owe their fame, credibility, and influence to their fallen brothers.
Their silence is even more dispicable than Ayers and his cohort Obama.
Truly disturbing.
only thing is obama wasn’t friendly from “afar.”
he launched his political career in ayers home, he wrote a laudatory forward for one of ayers books, he shared an office with ayers, he sat on two boards of different foundations with him….he attended the same fundraisers for radical plo activists. these two are two peas in a pod.
why are all the people in obama’s inner circle america hating reverse racists who long to see islam dominate the world? and for israel to be wiped off the face of the earth?
why is james zogby, a person’s who primary interest is getting arab americans elected to office, one of obama’s primary advisors? why does zogby care so much about obama?
oh we know the answer..because according to obama “the most beautiful sound on the planet is the islamic call to prayer” recited at sunset, a prayer obama himself can recite in perfect arabic.
You forgot this: both BO and BA were living in NYC, attending Columbia University, in the early ’80s.
I’m surprised none of the Kennedy’s have not had a press conference on this insulting matter of Ayer’s dedicating his book to Sirhan Sirhan. Who murdered their Brother, Uncle, Father, and Grandfather.
Yeah, where the hell is Caroline on this insult?
I hope she has to sit next to Ayers at a dinner party someday. Bitch.
Great piece!
Moderate ‘Blue Dog’ Democrats basically admit BO’s plans can’t work for budgetary reasons
http://online.wsj.com/article/SB122532312630982163.html
Other good piece on taxes:
http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html
Other good pieces on why McCain:
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/23/AR2008102302867_pf.html
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/30/AR2008103003636.html?hpid=opinionsbox1
Nice approach. There’s no pretense that Huffy readers won’t skewer her.
From my reading, the O supporters are absolutely confident they have it in the bag.
I think I trust John on his gut instincts. He believes he has the momentum. I think he may well be right.
The polls are as reliable as a steering wheel that comes off in your hands. There is NO basis for confidence. They are whistling through the graveyard.
Shiloh — Among PA Dems the primary reasons for not voting for BO were cheating and trying to buy the election. So the only thing Obama has left is more cheating and bribing more people to buy this election. We have seen Obama’s act and we are sick of it and he is terrified he won’t get to destroy us after all.
So Obama calls Hillary Clinton “Bush-Cheney Lite”, attacks her judgement, runs to the left of her in the primaries, passes her over for VP, and now says he’s going to implement the Clinton economic plan if he’s elected.
He is an absolute fraud. Unfortunately, that he continues to exist as a candidate only highlights how many Americans are lazy fools.
http://thepage.time.com/2008/11/02/black-mccain-probably-going-to-win-pennsylvania-and-iowa/
“On a brief jump flight from Philadelphia to Scranton, McCain adviser Charlie Black and Kansas Sen. Sam Brownback came back to talk up the campaign’s conviction that the glass if half full. “Four years ago at this point, George W. Bush was down five points in Iowa,” Brownback said. “Today John McCain is down one point in Iowa.”
He was citing an unreleased internal McCain campaign poll of the state, which was completed last Thursday, said Black. (The campaign stopped doing its own polling after Thursday, he added, because television time through the election all had to be purchased by Friday.) However, public polls in Iowa suggest that McCain is still in a big hole. Last week, the Des Moines Register poll, which has a good record of prediction in that state, put McCain’s deficit at 17 points, with Barack Obama garnering 54 percent of the support.
“McCain is in a good position to win every red state,” Black said. “Plus he is probably going to win Pennsylvania and Iowa.” Polls have narrowed sharply in Pennsylvania in recent weeks, though Obama still has a sizable lead of 7 points in the Real Clear Politics average. Black said he had seen a poll recently that showed McCain tied in the Philadelphia suburbs, a crucial swing region of the state.”
Mac and Sarah are gonna win - I just feel it!
firefly — Maybe one billion can buy Obama but our Democracy is priceless.
VOTE COUNTRY NOT PARTY-Always!
It is that simple.
PUMA
Obama’s economic plan is frightenly similar to the same steps that Hebert Hoover took at the beginning of the Financial Panic that became the Great Depression. Raising taxes during a bad economy is a prescription for a prolonged downturn.
Furthermore, Obama’s suggested removing the penalties for withdrawing money from IRAs. This would be a disaster not only because it pulls money out of the savings/investment market which is vital for future economic growth but it also encourages very bad personal behavior. The last thing ANYONE should do is to pull money from a retirement account. Many people will find themselves in poverty in their old age if they do this. You loose out on valuable compounding on what small sums Americans save towards their future now.
Obama’s economic plan is a plan for a financially weak future.
Oh the Dems plan for our 401s and IRA’s is called “social security 2″ No more tax deduction, no more stock investments - the government will take your money and keep it for a fixed 3% return, a $600 government contribution (that’s really our tax dollars PS) and every income earner will have to contribute 5% of their gross wages each year. This is one place Barky is going to get his hands on some cash for that advance on the wealth redistribution he promised. Sickening,
This lady is so cool. Soooooo cool! OK now I gotta read her article. Why did she publish first at the Huff and Puffington post.
PS. What is it with all these Greeks anyway? Αριανα? Μουλητσας?
I woke up thinking about times during the primary when Obama became destabalized publically. You’ll remember - when he lost Ohio and PA to Hillary, when he petulantly refused to photo with a PA guy, his claim of visiting 57+ states, and so much more.
I also thought about his life-long associations which not only display poor judgement, but also poor character. Flash to the greek columns, the psuedo presidential seal, and so many other signs of premature glory.
And now, in the 11th hour, Obama is throwing himself under the bus and relying on an appeal that he will be a clone of Bill Clinton.
I’d be willing to bet money that the main reason Obama isn’t releasing his medical records is that it shows episodes of mental health treatment or drug rehab treatment.
I hope the US will open their eyes and see what is right in front of their faces, rather than the swirling mesmeric delusions of false hope they are inwardly gazing upon.
McCain/Palin ‘08
Hillary ANYTIME!
Thank you, Lady de Rothschild.
Thank you, No Quarter.
My husband and I have early voted for McCain/Palin in Ohio to which we have recently moved.
I have never felt more certain of my choice.
And thank you, PUMAs.
Peg
As you all may know I own a business that employs 80 people in the plastics industry.
I’m very concerned if Obama gets elected and what that means for my industry
Higher capital gains taxes. Higher Business taxes and punishment for the amount of carbon produced in manufacturing. Greater regulations and attempts to unionize.
I may have to lay off up to 10 people if Obama is elected because of business slowdown and the adverse effect Obama will have on all businesses.
Which folks will I be laying off you might say..
Well first anyone who asks me for a day off on election day to work for the Obama campaign.
As for the others..I will just go out to the parking lot and check to see if they have Obama stickers on their cars..
They don’t need me…Obama will help them with his hopey(unemployed) change.
Folks..
I have a big heart…I’m just joking!
What is there to joke about? You raise some serious issues. If you do have to have lay offs…will it be the person who took election day off to help oblahblah? Or will it be the person who worked overtime that day to make up the work that the O supporter didn’t do? If you have to lay off someone, will it be the ones who support legislation/legislators that keep you in business or the people who drank the koolaid and plastered obama signs all over their vehicles and clothing?
Fortunately I’m not in your position, but if I were, and I had to let people go, the first ones it would be, would be the ones who were responsibile for me being put in this position.
I agree Lisa. Good luck Seattle McMoss. You’ve raised valid issues that you may have to face.
Lisa,
I just don’t want to appear as a cold heartless vindictive ass.
The truth is that most of my employees were for Hillary and are now voting for McCain.
The total PUMA vote at my company is 30 people and all felt disenfranchised by the demokrats this year. We are a very political family here at work and can’t stand the thought of an anti-American,anti business racist as our president.
Having said that…Any worker asking his boss for a day off to elect someone that will adversely effect the company has got to be a stupid fool.
I really hope you are not joking Seattle. These people ought to learn that actions have consequences. They are going to put all of Americans in the shitter.
Yep, I told my nephews and nieces who drank the kool aid and don’t know ONE single issue in this election that if their Dear Leader is prez, I won’t be redistributing my wealth to them any more. Their new prez will make sure they are taken care of. I’m sure he’ll send them a check for gas money, gift cards for Starbucks, and a little extra money for the movies too.
Why are you running a business? You should stop being so selfish, shut the whole thing down, and you and your employees should all become community organizers.
OT - No one wants to explain to me what is going on at GretaWire where they are still talking about some Hillary Robocall. The threads were invaded by bots so I can’t go back but I want to understand the situation.
Apparently a tape of Hillary saying negative things about Obama from the primaries is part of a recorded call being used in swing states. This actually troubles me because unless she gave her permission which I doubt, even though it may be public domain she will condemn its use and rebut it tomorrow.
Uh oh!! I hope these people are in no way connected to the McCain campaign. I hope they are a 527. As for Hillary rebutting it, I doubt it. If she rebuts it, they will be required to play the tape on the news in which she says negative things about Nobama. They wouldn’t want to do that.
I recall McCain running great ads using Clinton and Biden’s own words from their own mouths. It’s not like a “actor” is impersonating Hillary. I don’t know what the robo call says, but she said she and McCain were ready day 1 and Obama-not so much.
I agree that this can backfire.
Has it hit the cable news programs? Has the coal story? Depending on which one hits first we can judge the impact. If it is just some negative robocall scheme that we saw in 2004 that no on talked about, that is one thing. If the message, however, deliberately misleads voters into thinking that Hillary is supports McCain, that could be damaging. However, there isn’t much time for the story to fester. If it turns out to be a kooky 527, McCain can just issue a statement saying that he has nothing to do with it and that he wants a clean campaign. Either way however, if people get tricked into thinking Hillary is supporting McCain and go and vote for McCain because of it, so much the better. Sorry to be a means justify the ends kind of person but this is politics and it is dirty.
How can she rebut when she spoke the truth? I’m sure she is not liking the idea the RNC is using her words, but what can she say? “I didn’t mean it when I spoke those words”?
She’s probably laughing out load in her room and saying secretly, “You go RNC”! Anything she says in rebuttal is going to come off weak and ineffective.
Has the telephone conference call started?
5 pm EST so……50 minutes
Thanks.
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=74643
The Civilian National Security Force
this is what scares the shit out of me most of all…please folks…wake up before it’s too late.
Oh, I am seeing that more like the 1960s type stuff.
What happened then was that these groups were so unprofessional and problem-oriented that they were driven out of existence.
The references from some of the people here who are clearly very paranoid and right-wing honestly don’t persuade me a jot.
That’s just fear-mongering.
Mostly, I think Obama looks like a throw-back to a previous era, and that makes sense to me. He comes out of a politcal ideology that is stuck in the past.
Makes sense his solutions are retro.
I believe you are right. He’s one of these people who missed the Revolution and he’s trying to re-create it just for himself.
Seriously, if he does get in, which I doubt, and he does start all this crap, he’ll be out of office before the first term is up. Americans might be scared over the economic meltdown, but they’re not going to stand for his idiotic commie BS. It’s so 1972. May he have the same fate as McGovern.
Here’s an economics lesson we can learn from the people who eventually became the United States of America
The True Story of Thanksgiving by Rush Limbaugh
(excepts)
On August 1, 1620, the Mayflower set sail. It carried a total of 102 passengers, including forty Pilgrims led by William Bradford. On the journey, Bradford set up an agreement, a contract, that established just and equal laws for all members of the new community, irrespective of their religious beliefs. Where did the revolutionary ideas expressed in the Mayflower Compact come from? From the Bible.
The Pilgrims were a people completely steeped in the lessons of the Old and New Testaments. They looked to the ancient Israelites for their example. And, because of the biblical precedents set forth in Scripture, they never doubted that their experiment would work.
…
And the sacrifice they had made for freedom was just beginning. During the first winter, half the Pilgrims – including Bradford’s own wife – died of either starvation, sickness or exposure. When spring finally came, Indians taught the settlers how to plant corn, fish for cod and skin beavers for coats. Life improved for the Pilgrims, but they did not yet prosper!
The original contract the Pilgrims had entered into with their merchant-sponsors in London called for everything they produced to go into a common store, and each member of the community was entitled to one common share. All of the land they cleared and the houses they built belong to the community as well.
Bradford, who had become the new governor of the colony, recognized that this form of collectivism was as costly and destructive to the Pilgrims as that first harsh winter, which had taken so many lives. He decided to take bold action. Bradford assigned a plot of land to each family to work and manage, thus turning loose the power of the marketplace.
“The experience that we had in this common course and condition, tried sundry years…that by taking away property, and bringing community into a common wealth, would make them happy and flourishing – as if they were wiser than God,” Bradford wrote. “For this community [so far as it was] was found to breed much confusion and discontent, and retard much employment that would have been to their benefit and comfort. For young men that were most able and fit for labor and service did repine that they should spend their time and strength to work for other men’s wives and children without any recompense…that was thought injustice.”
After the reform of private property was allocated:
“This had very good success,” wrote Bradford, “for it made all hands industrious, so as much more corn was planted than otherwise would have been.” Bradford doesn’t sound like much of a Clintonite, does he? Is it possible that supply-side economics could have existed before the 1980s? Yes. Read the story of Joseph and Pharaoh in Genesis 41. Following Joseph’s suggestion (Gen 41:34), Pharaoh reduced the tax on Egyptians to 20% during the “seven years of plenty” and the “Earth brought forth in heaps.” (Gen. 41:47)
In no time, the Pilgrims found they had more food than they could eat themselves.
Now, this is where it gets really good, folks, if you’re laboring under the misconception that I was, as I was taught in school.
So they set up trading posts and exchanged goods with the Indians. The profits allowed them to pay off their debts to the merchants in London. And the success and prosperity of the Plymouth settlement attracted more Europeans and began what came to be known as the “Great Puritan Migration.”
Now, you probably haven’t read this. You might have heard me read it to you over the previous years on this program, but I don’t think this lesson is still being taught to children — and if not, why not? I mean, is there a more important lesson one could derive from the Pilgrim experience than this?
Thanksgiving, in other words, is not thanks to the Indians, and it’s not thanks to William Bradford. It’s not thanks to the merchants of London.
Thanksgiving is thanks to God, pure and simple. Go read the first Thanksgiving proclamation from George Washington and you’ll get the point. The word “God” is mentioned in that first Thanksgiving proclamation more times… If you read it aloud to an ACLU member, you’ll get thrown in jail, but that’s what the first Thanksgiving was all about. Get it. I’m telling you, read it. Maybe we can find it and link to it: George Washington’s first Thanksgiving Proclamation. Folks, if you haven’t read that, you need to read it. It will tell you the true story of Thanksgiving. I’m happy to share it with you each and every year as a tradition on this program.
Here’s a link to Washington’s address:
http://www.earlyamerica.com/earlyamerica/firsts/thanksgiving/thankstext.html
Lynn, thank you for the insightful analysis. We are grateful for all your efforts in our struggle. You have our love, and our respect.
Lady Lynn Rothschild, you are a PUMA warrior and an eloquent spokesperson on our behalf! I agree wholeheartedly that BO’s “reckless rhetoric and policies” will result in roadkill that extends way beyond America’s economy. What BO seems to be totally oblivious to (in embracing the Clinton economic plan) is to what extent Pres. Clinton’s administration benefitted from the dot.com bubble which is no more. Beyond that, how can anyone at this stage trust any platform Barack Obama lays claim to supporting? I mean this candidate changes his tune every single time he opens his mouth to speak!
Earlier today I heard Michelle Obama in her little pep talk say words to the effect that “On Tuesday Americans will go out and do something they’ve never done before” (vote for a black man). I have news for MO. Many of us will indeed be going out on Election Day and doing something we’ve never done before, and that will be vote Republican!
McCain-Palin 2008!
Thank you to Lady Rothschild who has risked a lot of attacks to illuminate the Kool-Aid driking Obama-swine. God Bless You Lynn. Can’t wait to hear the call.
Hey look at this! Obama wants to bankrupt the coal industry!
http://www.youtube.com/watch?v=Hdi4onAQBWQ
This is what happens every single time Barack doesn’t listen to me!
I am getting so frustrated!
argh!!!!!!
Bill
Pitbull Palin is on it!
November 2, 2008, 4:19 pm
Palin Attacks Obama on Coal Production
http://blogs.wsj.com/washwire/2008/11/02/palin-attacks-obama-on-coal-production/
Nick Timiraos reports from Marietta, Ohio, on the presidential race.
Republican vice-presidential candidate Sarah Palin unleashed a new volley against Barack Obama on a four-city tour of Ohio on Sunday by touting newly released audio comments made by the Democratic presidential candidate promising to restrict the construction of new coal-fired power plants in the U.S.
The issue is particularly sensitive in coal-rich Ohio, West Virginia, and Colorado. Obama made the comments to the San Francisco Chronicle in January, which were posted on YouTube over the weekend.
Obama said that under his proposal to cap greenhouse gases, energy suppliers would get incentives to develop technologies to reduce pollution and to use cleaner sources of power. “So if somebody wants to build a coal-powered plant, they can,” Obama said. “It’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”
Palin told supporters to listen to the audiotape. “You’re going to hear Sen. Obama talk about bankrupting the coal industry,” she said. The Alaska governor also pointed to comments that Democratic vice-presidential candidate Joe Biden made to an environmental activist, promising no more coal-fired power plants in America. Biden was videotaped, likely without his knowledge.
“In an Obama-Biden administration, there would be no use for coal at all, from Wyoming to Colorado, to West Virginia and Ohio,” Palin said.
The Obama campaign scrambled after Biden made his comments in September, clarifying that Obama remained committed to exploring the as-yet-undeveloped clean-coal technology in order to produce cleaner-burning coal-fired power plants.
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Can I just say….I LOVE HER. Win or lose on Tuesday - Sarah Palin is an unstoppable force. The Democrats and the ‘inside the beltway’ Republican snobs better get used to her.
OT - Hannity’s America is on tonight. Wonder what he will put on. Maybe it will be the “I’m going to bankrupt you” message from Obama. Juicy!!!
see above post
Newt just bought up the tape on Cuvto.
Newt just bought up the tape on Cuvuto.
YES!!!! YES!!!! YES!!!! CRUSH NOBAMA!!! REVEAL HIS HATEFUL AGENDA SO THAT EVERYONE CAN SEE HIS NASTY CORE!!!!
Thank you Lady Rothschild!
I sure hope Hannity has something good on tonight because the other Fox hosts are really pushing the Obama has won issues today. I can’t figure them out because they have been more than fair over the course of this campaign, but wow, why hit the brakes now? This is the only network I have been watching and I am really disappointed about this. If any news station has influence over voters, it would be this one, because it is number one in viewership. Neil Cavuto is on now and he seems to be eating it up that Obama is going to win. Hannity and Greta need some strong shows for McCain to counter this tonight. I hate this at this late date.
That is why I no longer watch the news. FULL OF DEPRESSOS. DON’T WATCH THEM. WE CAN WIN THIS THING.
I have to wonder sometimes if this isn’t to motivate people to come out and prove them wrong.
Something is going on in the financial markets, has anyone notice that the preapproved credit card crap has been back in our mailbox the last week? And I have lenders competing to give me a mortage. Last month, my bank (BOFA), put me on hold for 30-days, now I get two message a day from them wanting me to close the equity/refinance loan.
I’ve also been getting more pre-approved credit card offers and mortgage company mailings.
Dont get your hopes regarding the Economy.
They have invented so much new money this year that the Collapse of the Dollar is coming..
The Dollar is the final Bubble.
Once it pops, the rest of the world will not be loaning us another dime.
The Treasury has already said it’s going to be hard for them not to default next year. (not in those words.. they said Finance the deficit)
I personally think we could get out of this hole pretty quickly, with will.
We would have to be draconian about spending.
It’s impossible to escape this.
Once the current round of deleveraging (the debt the world is getting rid of right now is denominated in Dollars), the value of the dollar will probably have risen a lot higher than it is now.
People are going to look at the giant spike in the value chart and see it’s clearly overvalued.
Once the dollar sell off starts, the dollar will be destroyed.
It will be the end of Foreign financing of our Budget Deficit and the Trade Account Deficit.
Since Americans do not have a lot of savings and since America doesn’t produce a lot of goods like it used to, it will be very difficult to recapitalize.
The Federal Govt might completely collapse from the instability. THat’s a worst (or best, depending on your POV) case scenario.
That’s easy to change. Slam the door on the export of raw materials. Pre Reagan we were net importers of raw materials, net exporters of manufactured goods. That pair of relationships is now inverted.
Lady Lynn, thank you for coming to the aid of your Countrymen. You have made a difference from the first moment - and you didn’t have to -
What a great American! Our movement was blessed when you chose to speak up for America, our Beautiful Home Sweet Home.
PUMA
Courage
Patriotism
Anyone hear Frank Luntz last night saying he is going to have focus groups for barkys first 100 days as president?
Greta to totally enamored with Sarah and Todd. She has to control herself from smiling whenever whe watches or talks to them.
I know. Like her husband and her - her husband, a long-time D, supports McCain - the Palins are real people, too.
UGH UGH I can’t stand this man. He must be defeated. Just thinking about the ways he made the Clinton’s out at racist chaps my ass. GRRRRRRRRRRR
Very compelling argument against Obama’s ‘redistributive change’. I remember the Carter years, and while I believe that Jimmy Carter is an honorable man and Barack Obama is not, the 1970’s with its stagflation and economic and societal malaise are not anything anyone should wish to see return.
Barack Obama’s policies would be far worse than Carter’s and I fear we’d end up looking like 1970’s Britain and if you know anything about that, you’ll know why Margaret Thatcher happened.
A primer:
http://www.youtube.com/watch?v=1ZzcfmlaPHg
If Obama thought so much of the Clintons, why is Joe Biden his running mate?
Whatever Obama says from one day to the next, whoever’s name he invokes, whatever winds are blowing in whatever direction, the current situation is ripe for shock economics as disturbingly documented by Naomi Klein in her book, “Shock Doctrine”. I do believe the economic school cited so many times in that book as being right in the middle of upheaval after upheaval around the world is the University of Chicago School of Economics. I believe these people are colleagues and neighbors of Senator Obama, if not his advisors and supporters (like Bill Ayers and Tony Rezko).
So whatever… chances are the economic picture will be a much uglier scene if the Senator from Chicago becomes the POTUS.
No; you are confusing the University of Chicago with the University of Illinois at Chicago, where Ayers teaches.
We love you Lady Lynn!! If anyone hates you, they do not know you. I’ve come to know you over many months on Cavuto, at Sarah rallies, etc. You are up-lifting and brilliant. Thank you for all you do. People, we need to honor her by voting McCain/Palin and not throwing away our vote!!
Great video in this from Powerline:
http://www.youtube.com/v/SnU78Z-01Wc&hl=en&fs=1
Sure wish McCain-Palin would use this.
I read it all the way through! And we all love Lynn!
Woohooo! Lady de Rothschild speaks for me. Thank you for speaking out so well.
Say what?
Where, pray tell, does that preposterous assertion come from?
How do you like McCain’s proposal to impose taxes on that portion of family health insurance premiums currently paid by employers?
What Lady de Rothschild did not mention is that Sen Obama’s patrons in the City of London financial community, Wall Street and their intell community adjuncts–will have no further use for Obama after election day.
(Note that actual economic progressives do not come out of your local state senate with the biggest presidential campaign war-chest in the history of the world– expendable puppets do.)
Obama, particularly if he wins–will have much to fear from his friends–or should I say his puppet-masters.
Since upper crust Brits hate the US Constitutional tradition–do not be surprised if they try to cause a constitutional crisis. Poor ambitious fool Barack, he gets to be their fall guy.
“…the road kill of Obama’s reckless rhetoric… ”
That is a keeper. Thank you