Archive for October, 2008
A few days ago, I got an email from the McCain/Palin campaign asking if there were any other Joe the Plumbers out there who were working hard to reach the American Dream. If so, the McCain campaign encouraged them to send in videos telling their “Joe the Plumber” stories.
We want you to tell us how you are “Joe the Plumber” and why you’re supporting John McCain and Sarah Palin in thirty seconds. You could even see your video as an official McCain TV ad.
This web ad appears to be the result of that email request. Take a look:
I love it. Are you Joe the Plumber? If so, go to I’m Joe the Plumber and tell your story.
If House Democrats have their way, the 401(k) system that currently includes tax breaks will be eliminated:
Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.
A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal.
At that hearing, the director of the Congressional Budget Office, Peter Orszag, testified that some $2 trillion in retirement savings has been lost over the past 15 months.
Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation. (Emphasis mine)
Welcome to the United Socialist States of America folks. This is what you’ll be looking at if Barack Obama becomes president. And if you think they’re going to stop there, you’re being hopelessly naive.
Hat tip: Tom Elia at The New Editor
Update: James Pethokoukis at US News and World Report has more detail on the consequences this kind of action would have on Americans’ retirement. But first he ponders this:
I hate to use the “S” word, but the American government would never do something as, well, socialist as seize private pension funds, right? This is exactly what cash-strapped Argentina just did in the name of protecting workers’ retirement accounts (Efharisto, Fausta’s Blog). Now, even Uncle Sam isn’t that stupid, but some Democrats might try something almost as loopy: kill 401(k) plans.
And the consequences of such an action:
4) Ghilarducci would offer a lousy 3 percent return. The long-run return of the stock market, adjusted for inflation, is more like 7 percent. Look at it this way: Ten thousand dollars growing at 3 percent a year for 40 years leaves you with roughly $22,000. But $10,000 growing at 7 percent a year for 40 years leaves you with $150,000. That is a high price to pay for what Ghilarducci describes as the removal of “a source of financial anxiety and…fruitless discussions with brokers and financial sales agents, who are also desperate for more fees and are often wrong about markets.” Please, I’ll take a bit of worry for an additional $128,000.
5) What effect would this plan have on an already battered stock market? Well, I would imagine it would send it even lower, sticking a shiv into the portfolios of everyone who didn’t jump aboard. But I am sure the Chinese would love to jump in and buy all our cheap stocks to fund the retirement of their citizens.
If you missed the Republican National Convention in early September, you missed Fred Thompson’s goosebump-making speech about John McCain’s military service. It’s truly inspiring. Freedom’s Lighthouse published it today. It’s worth the time to watch it and remind ourselves the sacrifice Senator McCain made for his country.
I usually don’t watch MSNBC because as a news organization their reporting is so far left that I can’t get anything useful out of their reports. This report is an exception. Take a look at this moving report about Sarah Palin and how she inspires parents of other special needs children:
This is only a small portion of her entire speech but it’s wonderful to see. Sarah Palin takes Obama to task for his stance on unlimited abortions. Watch:
I hope she continues to hammer Obama on the issue of abortion and her personal story because it’s compelling. She’s a living example of the sanctity of life.
Here’s the entire text of her speech. Read it.
“In this same spirit, as defenders of the culture of life, John McCain and I believe in the goodness and potential of every innocent life. I believe the truest measure of any society is how it treats those who are least able to defend and speak for themselves. And who is more vulnerable, or more innocent, than a child?
When I learned that my son Trig would have special needs, I had to prepare my heart for the challenges to come. At first I was scared, and Todd and I had to ask for strength and understanding. But I can tell you a few things I’ve learned already.
Yes, every innocent life matters. Everyone belongs in the circle of protection. Every child has something to contribute to the world, if we give them that chance. There are the world’s standards of perfection … and then there are God’s, and these are the final measure. Every child is beautiful before God, and dear to Him for their own sake.
As for our beautiful baby boy, for Todd and me, he is only more precious because he is vulnerable. In some ways, I think we stand to learn more from him than he does from us. When we hold Trig and care for him, we don’t feel scared anymore. We feel blessed.
It’s hard to think of many issues that could possibly be more important than who is protected in law and who isn’t – who is granted life and who is denied it. So when our opponent, Senator Obama, speaks about questions of life, I listen very carefully.
I listened when he defended his unconditional support for unlimited abortions. He said that a woman shouldn’t have to be – quote – “punished with a baby.” He said that right here in Johnstown –“punished with a baby” – and it’s about time we called him on it. The more I hear from Senator Obama, the more I understand why he is so vague and evasive on the subject. Americans need to see his record for what it is. It’s not negative or mean-spirited to talk to about his record. Whatever party you belong to, there are facts you need to know.
Senator Obama has voted against bills to end partial-birth abortion. In the Illinois Senate, a bipartisan majority passed legislation against that practice. Senator Obama opposed that bill. He voted against it in committee, and voted “present” on the Senate floor. In that legislature, “present” is how you vote when you’re against something, but don’t want to be held to account.
Senator Daniel Patrick Moynihan, a Democrat, described partial-birth abortion as “too close to infanticide.” Barack Obama thinks it’s a constitutional right, but he is wrong.
Most troubling, as a state senator, Barack Obama wouldn’t even stand up for the rights of infants born alive during an abortion. These infants – often babies with special needs – are simply left to die.
In 2002, Congress unanimously passed a federal law to require medical care for those babies who survive an abortion. They’re living, breathing babies, but Senator Obama describes them as “pre-viable.” This merciful law was called the Born Alive Infants Protection Act. Illinois had a version of the same law. Obama voted against it.
Asked about this vote, Senator Obama assured a reporter that he’d have voted “yes” on that bill if it had contained language similar to the federal version of the Born Alive Act. There’s just one little problem with that story: the language of both the state and federal bills was identical.
In short, Senator Obama is a politician who has long since left behind even the middle ground on the issue of life. He has sided with those who won’t even protect a child born alive. And this exposes the emptiness of his promises to move beyond the “old politics.”
In both parties, Americans have many concerns to be weighed in the votes they cast on November fourth. In times like these, with wars and a financial crisis, it’s easy to forget even as deep and abiding a concern as the right to life. And it seems our opponent hopes that you will forget. Like so much else in his agenda, he hopes you won’t notice how radical his ideas and record are until it’s too late.
But let there be no misunderstanding about the stakes.
A vote for Barack Obama is a vote for activist courts that will continue to smother the open and democratic debate we need on this issue, at both the state and federal level. A vote for Barack Obama would give the ultimate power over the issue of life to a politician who has never once done anything to protect the unborn. As Senator Obama told Pastor Rick Warren, it’s above his pay grade.
For a candidate who talks so often about “hope,” he offers no hope at all in meeting this great challenge to the conscience of America. There is a growing consensus in our country that we can overcome narrow partisanship on this issue, and bring all the resources of a generous country to the aid of both women in need and the child waiting to be born. We need more of the compassion and idealism that our opponent’s own party, at its best, once stood for. We need the clarity and conviction of leaders like the late Governor Bob Casey.
He represented a humanity that speaks to all of us – no matter what our party, our background, our faith, or our gender. And no matter your position on this sensitive subject, I hope that spirit will guide you on Election Day. I ask you to vote for McCain-Palin on the November fourth, and help us to bring this country together in the rational discussion of compassion and life.”

