Grandparents/Parents - College

Our little Kate is only one. Her parents (Marney and Jeff) are likely saving for her college needs. Such a long way off and yet the key to any savings goal is to get started and keep on track.



www.savingsforcollege.com



This is a link to a wonderful site. There are 529 plans and prepaid tuition plans from coast to coast. I would suggest that with education, there's little need for a professional to sell you a plan or investment.



The website covers all states and is very informative; however, there is an author that I have found also helpful.



Joseph Hurley wrote "The Best Way to Save for College - Complete Guide to 529 Plans" in 2008. He has also authored "Family Guide to College Savings" which is dated 2009-2010.



Bob and I would like to gift toward Kate's education but for now we are saving our coins in a fun bank that she gave us for Christmas.



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Gifts!

Wrapped with bows and sprigs of holly. Arranged under the lit tree.

Will there be surprises? Will you get anything that was on your list?

The anticipation and excitement crescendo. The unknown comes into the light.

Jesus is the gift we celebrate behind all the tinsel and lights. The gift this world was surprised by. The gift we were not prepared to receive.

But now we can. Thousands of years later, He's still the gift offered freely. Accept this love gift and your life will be completed and eternal.

God's blessings this special day.

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Merry Christmas

Oh Holy Night. The night when Christ was born.

As we reflect and celebrate the birth of the only begotten son of God, we realize the other gifts are minor. God's love for us is all we need.

Have a peaceful night and a joy-filled Christmas.

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Free Enterprise

It works. Open competition works.

I may have shared our experience. Bob needs to take blood pressure and cholesterol meds every day.

Through our health insurance, we have access to get meds through Medco through the mail. His meds cost us over $350 a month.

Free enterprise and open competition came to the rescue. Bob gets his meds for $20 for 90 days! $20 v $1,000.

Walmart. We love Walmart for this reason alone. It's not my favorite place to shop but it's fine for many things. Staples like soap, cat food, shampoo, and underwear.

Walmart = open competition. Shouldn't someone point this out to our Senators?

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Out of Pocket

"A middle-class family of four making $66,000 would still have to pay about 10 percent of its income in premiums, not counting co-payments and deductibles." per Ricardo Alonso-Zaldivar of AP today.

That would be $6,600 premiums plus co-pays and meeting deductibles. Sure sounds like a blessing to me.

There's also a marriage penalty in the new bill. If two single people earning $30,000 each live together, their costs should be about $1,300 each; however, should they marry, their costs will approach $10,000 a year.

We are watching as Congress finalizes our Christmas gift that will keep on taking.

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Growing Magician

The slight of hand usually works if the audience can be distracted. Watch the pretty scarf. Meanwhile, the other hand is quickly transferring the rabbit behind. Suddenly, magic.

It's not the email hackers that are the story. It's the questionable data that is still not being made available.

It's not the July 2011 exit. It's the transition that begins then and may take 18 to 24 months.

It's not the return of TARP $. It's extra $ that can used to create jobs.

It's not that the GOP has no plan for health care reductions. It's that they have not been invited to share or even be in the room where the bill is created and changes are written.

It's not that CO2 will be regulated. Our electric power will cost double very soon. It's that Cap and Trade will start to look good by comparison.

Beyond that, I ask where is the coverage of two things that are about to change. The growing magician Government will take over all public transportation systems. To regulate and control them.

The growing magician Government is nearing the point of bailing out journalists. The Government will sustain and control the watchdog known as the Press.

So many tricks. So many diversions. The Government is crowding out capitalism, free press, and regulating us to death. Socialism can be declared at any moment.

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Security Cost

Let's see. A trillion to bail out businesses that we are now running or at least firing the CEOs and dictating bonuses.

A trillion to stimulate so our unemployment does not exceed 8%.

A trillion to fix health insurance.

A trillion for our part in the world's abuse of the planet.

But our beloved and admired (you could tell by the faces in the crowd last night) Chief has decided our national security is at stake with the Afghanistan war but he will keep the costs to $30 billion and work real hard with Congress to find that $.

What?

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ps- If Pakistan is pakeston, why isn't Afghanistan afganiston?

Required Distributions

There is an exception in the tax code for 2009 only that is not widely advertised. Congress has granted a wave for required minimum distributions from IRAs for this year only.

I think the word is not being circulated because it sounds like a break for evil rich people who have $ in IRAs.

My dad paid his accountant to figure his minimum required withdrawal each fall. That's right. He paid him for the appointment even if only over the phone. If Dad didn't need the $, the CPA would "sell" Dad a mutual fund. I say sell because the man made over 5% commission on each sale.

Dad died two years ago and I rolled my portion of his IRA into an inherited IRA. I am required to take out distributions each year based on my life expectancy. Except for this year.

My dad would have enjoyed getting to leave his $ in and not having to pay taxes on it. Yes, it's the taxable event and the huge penalties if the minimum is not withdrawn that is the governments gift to those rich old people.

An aside: Dad's CPA filed for bankruptcy last month. Not enough old people needing those fall appointments to take out IRA $ and pay him to invest it in a load mutual fund?

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23%

The latest report is that 23% (over one in five, closer to one in four) mortgages are larger than the property is worth! The term is being under water. Owing more than the value.

That is astounding. Those homeowners have lost any $ they put down or equity they had grown in their American dream.

A friend of a friend closed and moved into a house near Labor Day. They have not sold their other house and have lowered the price two times in the last six months. They are making two house payments a month. Ouch.

They have decided to refinance the new house. Already? It's just an effort to lower that payment. The bank is rolling the costs of another title search etc. into the new loan. They are short sighted but then I'm not making two house payments.

If you are one of the 4 in 5 or 3 in 4 that is not under water, remember to be thankful for that tomorrow.

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Pizza Parlors

There are 2 well established pizza parlors on the west side of town. They compete with each other through coupons and promotionals like free drinks. They each have loyal customers but most people these days check for deals.

There is a new pizza parlor that just opened about 2 blocks from one and 3 blocks from the other established businesses. You might think same old same old but not with this one.

The new proprietor is in the business of getting pizzas onto everyone's plate. Profit is not important. He wants people to pay for their meals but according to what they can afford. He wants to make the quality of pies that the other places do but his only goal is to provide pizzas.

What do you think will happen to the two original parlors? Will they compete and compete and come up with a lower priced pizza? They can't really compete with someone who provides meals at slashed prices without concern for profits.

I watched several senators interviewed this week on Fox News. The senators who are pushing this health insurance change were degrading the fat cat insurance companies and calling for change. With the government run health option, it will bring about necessary competition.

Will the original pizza parlors compete and survive? Doubtfully. It may be a long a painful death but they can not compete with someone who has no concern for the bottom line.

Please remember, insurance companies work with a less than 3% margin of profit. The government will spend and spend and spend with little regulation and no concern for OUR bottom line.

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Expensive Jobs

The report is out. The stimulus has created or saved jobs!

In Illinois, 6 non-existent Congressional districts received $6.5 million which created 25 jobs.

So, places that don't exist received big $ and saved jobs somewhere.

A little math. Those 25 jobs cost You & I over a quarter million each. That's over $250,000 each job.

Is anyone watching? Does anyone out there understand that it is not working. We knew it wouldn't work. It didn't work to get us out of the Big Depression.

Who is watching Big Brother while he's taking care of us?

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Acceptable Insurance

HR 3962 has some teeth. If we don't have "acceptable" health insurance for ourselves and our children, there are some serious criminal costs.

Aside, this bill also defines a child as up to age 27! So, even if your kid is out on his own, if he does not have "acceptable" health covereage, it falls on the parents to pay the cost.

The criminal costs under Section 7203 state a fee of $25,000.

Section 7201 states the price for willful behavior not carrying "acceptable" health insurance. That cost is up to $250,000 and up to 5 years in prison.

What I am struggling to understand is the government's definition of "acceptable."

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Elite

There are over 200 millionaires in the House of Representatives. That's a large portion.

Are we being governed by the elite?

Easy for them to "know what's best for the rest."

Easy for them to insist that we all need health coverage. Easy for them to decide who gets medical treatment and how much a doctor's skills are worth.

Easy for the elite to rule the masses.

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They Lied

No surprise that they lied. We have been promised by many voices in government that the health reform bill will not contain $ for abortions or coverage for illegal individuals. Plus, if we like our insurance we can keep it.

Last night $ for abortions was removed which made the difference. The House passed the monster bill 220 to 215 with one turn coat Republican from New Orleans who claims the removable of abortion funding made all the difference to him.

If it wasn't in the bill, how could it be removed?

Is this a hard question to ask? Why are these people not questioned?

So far from what I've learned of this bill, Bob and I will not be able to keep our insurance covereage without paying a "fine" on our tax return. Of course, we could opt out of that NEW TAX and spend up to 5 years in jail. What the heck is going on?

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Unemployment

Unemployment hit over 10% last month. It hasn't been this high since 1983.

Reagan was president in 1982. Except for his messages of hope and strength, those days would have been even darker. Interest rates were over 10% as well.

There are 2 things our administration needs to do to get us out of this mess, two things Reagan did.

He lowered taxes across the board. Lowered taxes incentivize businesses of all sizes.

He did not clamp down on interest rates. These days the Fed is keeping the rates at zero. That doesn't seem to be helping much. I realize the fear is run away inflation but that's bound to happen anyway with the devaluation of our dollar.

We need to be more concerned for our dollar. We can not continue to print and spend. Our dollar is nearly on par with Canada's. It's falling around the world.

When will our government wake up? Or will they? They seem hell bent on passing another boondoggle of a spending bill.

God help us.

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Qualify for Tax Gift

There will be an extension of the first time home buyers into 2010 which is an election year.

But also, homeowners who have lived in their current home for five of the last 8 years can claim $6,500 tax credit! There are income limits, up to $125,000 for singles and $225,000 for couples.

I have to ask. How will this help the economy? I mean, other than put tax $ back into the wallets of many Americans.

Interesting.

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Wall Fell

The Berlin Wall came down 20 years ago. How time flies. Twenty years. I can still hear Reagan's call for its demise.

Skipping the celebration of the 20th anniversary of the Berlin Wall is a bad choice by President Obama. Our man child leader will not attend the party.

Big mistake. I wonder if it's not tit for tat.

In July 2008 Chancellor Angela Merkel objected to Obama speaking at the Brandenburg Gate. She denied him the back drop of choice. Pay back?

Tit for tat. Our boy president leaves the U.S. out of the celebration of the fall of the Iron Curtain and the division of an ally. How dare he.

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Unhealthy

Definition of health economy:

• Reduce the growth of government spending.
• Reduce income and capital gains marginal tax rates.
• Reduce government regulation of the economy.
• Control the money supply to reduce inflation.

Government spending is out of control!

Taxes rates will be allowed to reset higher!

Government seeking more ways to regulate industries!

Government printing $ 24/7!

God help us.

Forum

I love this forum. It's my opinion or things I have found to share. Over the last 2 years it has become more political but then the financial world has become political and I see the government interfering more and more.

I read that a bank near our Dunkin Donuts was closed (Park National). It was taken by the Feds, changed hands, and will open on Monday under a new name. I think it was acquired by another bank.

Are these deals done in the dark? Is there a list of healthy banks that are forced to take the next bad bank? Are these toxic assets or a group of assets that next owner can sell off, divide, or use?

Uncle Sam can't keep his hands off things. I know there needs to be regulations. There are regulations in air flight, food processors, construction, banking, insurance and the like. But Uncle Sam is now running car makers (into the ground) and banks (what to lend, for how much, to whom) and is focusing on the media.

The next to be "helped out" by the government will be newspapers followed by radio and the internet. Stay focused. Watch. Obama doesn't like Fox. He will soon be controlling newsprint. It's only a hop from there to all news media.

Fox will die or conform. Will we realize it?

Radio. Who will be the first to go? Rush? Sean? Beck? Levin? Silenced forever.

They will call it diversity. Nothing diverse about silencing any voice you don't like, criticism squelched. The free market be damned. It's not fair or diverse.

We will watch together. What can we do?

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CNN Money Report

"Each job cost $248,000 to create." CNN Money Report

Obama's stimulus plan has not all been spent. I don't believe he's printed enough $ yet.

Through September the jobs "saved" and created cost you and me $248,000 each! Nearly a quarter of a million dollars each!

It would have been cheaper to write a check to each tax filer for $15,000 and step back. Some would have saved it, some would have bought down personal debt, and many would have spent part or all of it.

Note: paid down debt puts more $ back into the banks and makes it available for new loans.

We have been ripped off. When will we say Enough is Enough?

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Robin Obama

Robin Hood stole from the rich and gave to the poor.

B. Obama steals from the "rich" and gives to the entitled to redistribute the wealth.

Thieves both.

Why bring down the upper class rather than raise the lower one?

It's called work. Opportunities abound for the moment. Soon we will be early 20th century Russia.

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Watch H1N1

We've all heard about the disappointing delays in the production of the Swine Flu vaccine. I have no idea where the misleading began but here we are watching people desperate for the shots.

But one more thing. Unlike other flu shots when distributions are through the production companies and their reps to doctors, clinics, etc., this year the government is in charge of the distribution. Uncle Sam cut out the free flow of enterprise. He must know best.

The shots come through federal distribution systems to the states and then the local level government.

Watch with me as we see the efficiency of the government in charge. Watch the lines allowed to form 6 hours in advance when the government only has 1,200 or 1,500 shots. People are allowed to stand in line for the all important swine flu shot.

The government will let them stand and wait. Will the government let us stand and wait for medical help? Will we return day after day hoping the doctor will see us? That's what I watched 2 days in Toronto. Two of the same men were standing in the line outside the clinic doors in line, hoping that the doctor would be available to them.

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Tax Credit Fraud

You have probably heard of the tax credit for first time home buyers. It is the reason house sales were so greatly increased last month. The plan is set to expire in November.

So far, the IRS has uncovered $139,000,000 in fraudulent tax credit claims.

Over 500 claims were filed by individuals under 18 years of age.

The youngest uncovered so far is 4 years old!

Beyond that, there have been over 50 IRS employees who have claimed this tax credit fraudulently.

How many more will be filing for this tax claim with their 2009 returns? How many more tax frauds will be revealed?

And, the bigger question, will they be persecuted or will they invoke the Charley Rangle clause.

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Addicted to Shiny

This is not an original thought. I heard Dave Ramsey on the radio yesterday and loved the analogy.

America is like a bass. There are times when bass (the fish, not the instrument) will bite on anything shiny. Many artificial lures are metal and constructed to swivel or turn in the water reflecting the sun.

America is like a hungry bass. If it's shiny, we'll bite.

We want shiny cars. Shiny new houses. Shiny electronics. Shiny boats.

We can't get enough shiny things. We will use our credit cards without thinking just to get more shiny things.

America has to stop biting on shiny things. We need to stop before we buy.

No more shiny things.

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Bananas?

New Hampshire Republican Sen. Judd Gregg said, "the Obama administration’s projections the budget deficit for the next ten years is $1 trillion per year."

We are on the road to becoming a Banana Republic. I knew he didn't mean the stylish clothing shop at the mall.

The Senator thinks if we continue spending, we will become a banana republic. That is a pejorative term for a country that is politically unstable, dependent on limited agriculture, and ruled by a small, self-elected, wealthy, and corrupt clique.

Unstable, corrupt. I would add defeated and dependent. Terms not used before for the United States of America.

Unstable and corrupt. Let us turn this around.

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Smear Campaign

The White House has declared war on Fox News. They have isolated that one network and have stated repeatedly that they are an arm of the Republican Party. Fox News broadcasts false stories.

Isolate and destroy.

If you do not watch or have never watched or listened to a recovering alcoholic from the great Northwest, you might miss their real target. He is not a journalist. He is an opinion man.

His little show was the first to show the videos of Acorn aiding a prostitute on setting up a brothel with under age, imported sex slaves.

His show called out Van Jones by playing videos of his true agenda. Shining the spotlight.

His show just aired video of another White House figure declaring publicly this year her favorite philosophers. Mother Teresa can be an inspiration but her other was Mao. Mao! Does anyone remember Mao? Does this society so love a winner that we forget the lives taken back in the late 1940s? Millions and millions of women, children, elderly. For the Communist revolution.

This White House has also declared war on talk radio in general. The plan is set to take down talk radio. Isolate and destroy.

Will anyone stand up? Will we lose the freedom of speech before we lose the rest of our freedoms?

This week the National Chamber of Commerce said they have begun a large campaign to further better understanding of free enterprise, capitalism. Why should this country need education about free enterprise? What has happened to us?

Is it because the largest growing section is government? Threats again capitalism.

Isolate and destroy.

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Generous

Our generous president wishes to give $250 to everyone on Social Security. He says he's sad they did not get an increase. How generous.

How generous with our money. But that's just the way he is.

It would soften the blow when, due to those nasty Republicans, the government reduces the amout of coverage our elderly and unable to work will receive through Medicare.

Those nasty Republicans who don't have enough votes to accomplish one thing. Not one thing.

Our president is wonderful giving money to people. However, like the lady in Detroit who applied for $3,000 extra aid when asked where the President got the money to give her, "he's the president." She and others recorded that day last week had no idea except it [the money]was from Obama and they sure love Obama.

Sounds like vote purchasing? No. He's just generous. Albeit with your money and mine.

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Health Reform Passed

We will soon have health reform. Well, in 2013 we will have reform. Until then we will pay higher taxes in several different ways to cover costs ahead. Like a jump start toward the near trillion debt.

Will everyone have coverage? No. It is estimated 26 million will still be without insurance.

Will illegals have coverage? Yes. Several million will receive coverage.

Will abortions be covered? Likely as they are considered a medical procedure.

Will this legislation be cost negative? No. Bigger debts than ever.

Will costs go down for those who have insurance coverage? No. Costs will rise across the board plus those with sub par coverage will have to purchase much more expensive policies or rely on government run system. {Sub par will be defined eventually.}

Will there be a public government run health coverage? Yes. Those who are penalized by higher and higher insurance costs will need to be covered. This was Obama's goal all along.

He has dedicated himself to bigger and bigger government. He and his like will enslave us all. Bigger government. Less and less freedoms. Enslaving our lives to the decisions of government.

What can we do? Vote everyone of them out of office. Everyone of them. No matter what party. Out, out out.

Let's only elect people with private sector experience. I am serious. These 20 and 30 year senators and representatives have no clue about profits, meeting payroll, answering to a Board of Directors, and the like. Some of them can't even pay their personal taxes! Out, out, out.

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Secret Bill

The secret Obamacare bill will be voted on today. It's a secret because they don't want to make the same mistake they made in the summer. Posting HR3200 on line only caused all those nasty racist citizens to show up at town hall meetings. That will not happen again.

To avoid their ignorant constituents, Congress will vote for what is best for us. There's no need for us to know what it is, who crafted it, and what the cost will really be.

There are rumors that not everyone will be made to have health coverage. Well, there will be a small penalty for the young and healthy but it's much lower than the cost of actual coverage.

There are rumors that abortions will be covered as they are considered medical procedures.

All Americans will be covered. Mexico is in North America. Brazil, Argentina and Peru are in South America. All Americans.

Stay tuned and watch today. I will be watching Fox News just because the White House has declared war on that network. As I recall Nixon declared war on a big newspaper. That didn't work so well for him. I think it was a Washington or a New York rag.

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Bumper Snicker

I saw this one recently:

Don't tell Obama what comes after a trillion.

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Value Added Tax

Now there's more talk about an value added tax! Oh no.

Will it be added at the cash register? Can it be avoided by buying on line? Do companies pay this tax?

The answer is no. It is added to an item as it is made.

An example would be a hot dog. Value added to a wienie? Yes.

When the meat is slaughtered and cut, tax added. When the spices are packaged to send to the food processor, tax added. When the dog is mixed, stuffed, cooked, and packaged - tax added.

It adds on and on and on and we get to pay the increase hidden in the cost of that package of hot dogs.

It's like the statement that corporations don't pay taxes. You smile and think of course they do. It's a known fact that the US has some of the highest corporate taxes in the world.

Well, the corporate may remit the $ but you can bet they recoup it through sales. It becomes a cost of doing business covered by income. You and I pay those high corporate taxes.

Value added tax is another way to get $ from all of us. Including those who make less, much less, than the $200,000 income limit that our Noble Peace Prize winning president swore he would not tax.

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Mixed Messages

The White House put out a statement earlier this week saying that Americans are saving too much. We need to be spending more. Doing our part to help the economy.

Tim "Tax Cheat" Geithner, in Germany for some mysterious reason, proclaims that Americans are not saving enough. We are not putting aside $ for the future, for retirement and for college. It would help our economy if we all saved more.

Then there's the Charlie Rangle thing. He still hasn't straightened out things with the IRS. Remember, he's the head of that important group in Congress than writes the tax codes. Plus, he hasn't come clean about overlooked assets to the tune of a half million. Today was the day he would be stepping aside. Not!

Mixed messages all around. No common sense. No reasoning. No focus.

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Fall Day

It's a windy fall day here. Most leaves have not changed yet but the cooler wind foretells of things to come.

Summer has ended and soon the third quarter of the year will too. Thursday is the first day of the last quarter.

This week is a great time to review your investments, tax withholdings, and tax reducing possibilities.

Have you funded your IRA for 2009? Your HSA? Will your income and other factors allow a deductible IRA?

Study your last pay stub. Has enough income tax been withheld? This is an excellent time to make adjustments using Form W-4 with your employer.

How about your charitable gifting year-to-date? With Thanksgiving and Christmas ahead, there are plenty of opportunities to donate food and cash to needy folks or medical research and support foundations.

A big breath of fresh fall air. A fresh look at your finances so far for 2009.

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Obligated?

If you had a business and you got $ from someone to help underwrite your efforts, would you be obligated to that person? Could that person make suggestions? Demands?

The NEA (National Endowment for the Arts) receives large grants from us, from We The People. In fact, these grants are a majority of their cash in-flows.

The President has asked the NEA for their help in promoting his efforts.

Of course this is old news. If you've been reading newspapers or watching most TV stations, you already know of the trouble the White House is in.

Wait. Most of the main stream stations (ABC, CBS, NBC, CNN) haven't given much air time to this little recorded phone conversation. The newspapers probably have, right?

Wait. They are all lining up for bailout $ from Uncle Sam. I don't think they have given it much weight.

Once again, if someone is your largest donor (or you hope to receive $ from them), are you obligated to them?

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Agreements

There was a short blurb on the radio this morning complaining about the fees associated with debit cards. Did you know that if you overdraw using your debit card, your account will be hit with a large fee?

Recently, someone I knew voiced shock that their adjustable mortgage would be changing. Their payment would be increased by half!

Let us review. If you sign a contract or an agreement, you have committed to the terms enclosed. If you mortgage is set to adjust in two years, you can count on your payment changing. It will nearly always increase.

If you overdraw your bank account, you have agreed to the terms disclosed regarding fees and procedures. A debit card is like presenting cash. So, the $ will be drawn out of your bank account. If there is not enough $, the bank is actually covering you (loaning you) for the difference.

Read or fully understand (ask questions) all documents you sign.

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Ding Dong

The President claims his door is always open. He is available for discussions with the opposition regarding health care.

Another lie according to Republican leadership.

Ding dong. Knock knock.

Slipping a note under the door.

Nothing.

In reality, the President does not need the Republicans and others to pass whatever he wants. He has no need to have a discussion about other opinions.

So, what's up with the constant face time and no action. In fact, he refers to a bill that no one has seen. He has not endorsed the Max bill and the House HR3200 has been scrapped.

I see the push push push. Hasn't Americore finished his bill yet?

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Univision

Our president will appear on 5 news shows tomorrow. He is making the rounds -- appearing on NBC, ABC, CBS, CNN and Univision. Univision where English is not the language spoken.

What's wrong with this list? Other than the language thing, I suggest the President fears appearing on Fox.

Fox News - where the Van Jones issues were far beyond his signing the petition suspecting the US of bombing the twin towers.

Fox News - where the Acorn tapes are revealed. One after another.

Fox News - where they ask hard questions.

Possibly the President is doing an act of charity as the ratings for those 5 networks are slipping. Only Univision has steady ratings.

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Two Sides of Mouth

President Obama is for free enterprise. Quite a chat-up on Wall Street yesterday. Some phrases almost sounded like a capitalist.

Back during the Great Depression there was one action that likely prolonged our pain in the US.

Obama, buckling under the Unions, took that same debilitating step. He slapped a 35% tariff (tax) on imported tires. The action is aimed at China which has become a source of good quality and cheap treads.

Capitalist, free market -OR- tax competition.

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Third Payment

Most of us have taxes withheld from each paycheck. That's not the only way to pay our tax liabilities throughout the year which is what Uncle Sam wants. He demands we pay as we go even if he doesn't.

Quarterly tax deposits are due April 15, June 15, September 15, and January 15 of the follow year. If you make these deposits, your payment must be postmarked on or before tomorrow. The next payment is due in 2010 toward your 2009 liability.

States that collect income taxes often have similar payment schedules. Check your state of specifics.

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Worrier

My dad was a worrier. I find myself worrying but stopping. Does this worry demand action? Remembering that worry is like a rocking chair - lots of motion but poor mileage.


Every year, the government spends hundreds of billions of dollars it doesn’t have, creating a burden of debt for American taxpayers.

The national debt will grow by more than $9 trillion, according to an August 2009 report by the independent White House Office of Management and Budget.

When this debt crisis forces the government to raise taxes dramatically, the effect on our economic growth and productivity will be catastrophic.

How much do we pay in taxes? In New York City, 1% of taxpayers pay almost 50% of the city’s income taxes. In California, the top 1% pay 47% of the state’s income taxes. According to the IRS, in 2007 the top 1% of American earners paid 40% of all federal income taxes.

I am nearing the last 100 pages of Atlas Shrugged. I highly recommend it but using a Kindle would be easier than lugging around a 1,100 page book.

In the novel, the main male character leads a strike of the most creative and productive minds in America. The group refuses to continue to produce for a country that no longer rewards their hard work. The rewarding of wealth to the neediest, rewarding the unproductive for not producing, leads to chaos and worse greed than ever. Oops, hope I didn't ruin it for anyone.

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Dow Jones

Yesterday, 9-11-2009, the Dow Jones closed at 9605. Virtually the same as 9-11-2001 but we have had a ride these past 8 years.

I remember a year ago when the financial institutions were failing. Lehman Brothers folded. Maybe because they were first, they received no federal bailout?

The market headed south reaching a low in early March 2009. The gains since have been so good that it causes me to pause. Why the steep and steady climb? Are we due a correction before year's end? I believe so. How much and how long? I have no idea.

We remain in the stock market except for a mutual fund that held only health related stocks. The fund had mostly health care real estate holdings when we bought back 5 years ago. They switched their focus to pharmaceuticals but we held on.

We made our move out of that fund at the end of June. The fund never produced one taxable dollar. We have a loss to claim on our taxes.

Just wanted to share the consequence of yesterday's closing of 9605.

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9-1-1

I remember someone explaining to me that kids are taught to dial 9-1-1 and not 9-11 as there is no 11 key on the phone. 9-1-1. Our emergency calls are to 9-1-1.

Now we all have a 9-11. A date that I shall never forget and I pray none of us will forget. All of us remember that Tuesday, September 11, 2001. We remember where we were and what we were doing.

We will never forget the images of the towers and the Pentagon and that lonely field in Pennsylvania. Thousands of Americans killed by this attack.

Yes, we were attacked. When we were attacked at Pearl Harbor, it brought on our involvement in World War II even though those islands were only a holding and not one of our grand 50 states back then.

Let us never forget. Let us inform our children. Let us hold on to those feelings following as we came together as a people, united against the faceless enemies. Let us pray we never fall to the tyranny of terrorism.

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Question

I have one question. President Obama seemed so set on using the terrible abuse in Medicare to justify his Health bill.

Why has he not set those abuses as targets? Why would anyone know about the abuses and not tackle them?

He will use bigger government to correct the smaller government problems?

I learned very little last night.

Main stream media kept commenting on the shock of the SC senator Wilson's outburst that Obama was lying. How soon they forget the inaugural address of W in 2005. Several outbursts during that speech. But the media over sights are not something new. None of them even mentioned Van Jones until he was already gone.

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MDA Telethon

Did you watch any of the coverage of Jerry Lewis' Labor Day telethon this weekend? Either local coverage or the national coverage out in Las Vegas?

Did you realize this was the 44th year? Did you miss Ed McMahon?

Do you have memories of fire engines collecting in your neighborhood or at your 7-11 or the backyard circus back in the 80s? How many dollars, coins, and large checks presented for the charity to help victims and support research!

The American people can be very generous. Many charities do wonderful things with little or no government $. That's something to find pride in.

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Like Credit Cards

The public debt (belonging to us) is over $11 trillion. The monthly interest due is over $26 billion or $300 billion a year.

Like a credit card, if we don't pay toward the principal the interest compounds upon interest that was compounded, etc. It (our debt) grows and grows without borrowing more.

By 2019, ten years from now, the annual interest due will balloon to $806 billion!

So we ask ourselves (because Congress is not asking itself clear and reasonable questions) where can we get $ to pay off this debt? Tax monster, greedy corporations!

If we taxed (based on 2008 statistics) Walmart, Exxon, GE, and IBM at 100%, We The People would take in $87.6 billion.

We can't pay the interest. It is a runaway train.

President Obama has projected his 2009 budget will produce a $1.7 trillion deficit. We are spending $4.657 billion every day or $53,906.64 per second!

This is modern day slavery. Our children will not be sold to work in fields but they will toil 100 hour weeks to pay for the massive debts we will leave them. A shameful inheritance.

Tomorrow is Labor Day. Consider the labor and sweat and toil in our children's future to pay for the necessary pork in our bills: tatto removal, bridges to nowhere, and skateboard parks.

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"Washington Lies"

Dr. Walter E. Williams posted an article September 2. He included a few interesting facts.

In 2006, 43.4 million tax returns representing 91 million individuals had no tax liability. That's 91 million of 136 million who filed.

Also, there are 15 million households and individuals who do not file.

So, he concluded, 121 million Americans or 41% of the population are completely outside the federal income system. Over 2/5 of us are neutral on tax cuts and tax increases.

You can find Dr. Williams webpage and read more of his interesting thoughts. He has also posted some videos of interviews and the like.

Note: If you are thinking his math is fuzzy, remember households and joint returns include at least 2 individuals.

My point is, more and more people know that increases and even decreases in taxes do not effect them. They believe "Robin Hood" government merely takes a "fair share" from those greedy capitalists. No moral problem there.

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Higher and Higher

The federal average unemployment is now 9.7%. The August update was released within the hour. Just in time for Labor Day.

What is it where you are? August numbers by state are not available but July's figures include 15% for Michigan, 12.7% for Rhode Island, 12.5% Nevada, 11.9% for California and Oregon, 11.8% South Carolina, and 11% in Kentucky.

Illinois was 10.4%, Indiana was 10.6% and North Carolina matched Kentucky with 11%.

One in ten is without work. There are others whose unemployment benefits have run out and some folks are "under employed." That means they are working less hours or for less than they used to.

If you have a job, hold tight. If you are looking for a job, good luck. The government is hiring.

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Prime Time

President Obama will address the Congress and all of us on Wednesday night. He's hitting back harder.

What he does not understand is the income lost during prime time without commercials. The whole idea of profits losses means very little to him.

Wednesday is September 9 which is the day after he will address each and every K through 6th grader in our public schools. He's asking for their help and their allegiance.

If he were encouraging our young minds to study hard, remain in school, give it their best try, or even speaking about the greatness of our free country, I could stomach it. I read the instructions as posted on the internet. First to the teachers there are ideas to prepare their student for the President's appearance.

Then there are suggestions for during the talk such as taking notes or drawing a picture of President B. Husein Obama.

Finally, each grade level is to compile a list of what they can do to help the President with global warming and health care needs and like issues. These are to be kept and revisited throughout the school year as a checklist of activities accomplished.

As of this morning, the White House has changed the focus to how our youth can help the country. How to help the government.

This is an upside down world. The government works for us. How dare they? If not openly, they will effect our culture subliminally for the change they are targeted on. I remember reading about Hitler's Youth. Chilling, isn't it?

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Atlas Shrugged

I am about 2/3 of the way through "Atlas Shrugged." It has all the necessary elements of a great saga - suspense, sex, and loads of characters. Probably too many characters for me to track.

As I read, I have placed sticky note flags. These are mostly for my own review.

Also, as I read, I keep seeing the Obama/Plumber Joe encounter of a year ago. Spread the wealth. For those that follow him.

If you ever have the time, read Atlas Shrugged. My copy will be available in a few weeks. I'm a slow reader.

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Tap and Tax

Cap and Trade will cost all of us. I discovered Tax Foundation and have included a link to their calculator. It's a wonderful website. Full of details on sales tax, state income tax, and costs of things like the Tap and Tax and the proposed health care bill in the House.

I hope it's helpful.

www.taxfoundation.org/capandtrade

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Profit Margin

Profit (less taxes) divided by revenues equals profit margin. It is always portrayed as a percentage. If our revenues (all incomes) equal $100,000 and our Profit & Loss statement shows net profit of $15,000, our profit margin is 15%. It turns out that's a great profit margin.

Breweries average a profit margin of over 25% while drug manufacturers operate for a 16.% profit. Other examples: Railroads 12.9%, Wireless Communications 11.7%, Oil/Gas Drilling 9.7%, Medical Research Labs 8.2%, Periodical publishers 5.2%, Hospitals 3.6%, Heavy Construction 3.3%.

Also aiming for 3.3% profit margin are Health Care Plans such as Cigna and Aetna.

Health care insurance companies usually hit less than 4% profit margins. Those greedy companies.

These figures are from Yahoo Finance. I found them eye opening. I would have guessed heavy construction and hospitals to have higher profits. I think the lower the profit margin percent, the higher the risk from the viewpoint of an investor.

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Reforms

I have read part of the House Bill for health care reform. I do not believe it will pass as written. I know there are other bills being worked on. I have 3 suggestions that I assure you will change health insurance to the better.

First - open the state borders. Competition will bring down costs. States set standards now. Have the federal government override those and open the borders.

Second - make all health costs deductible. Now, if one itemizes on their tax return, only that which exceeds 7.5% of your AGI (adjusted gross income) count against taxable income.

Third - reform tort. I would almost go as far as to suggest the settling health claims without a jury. A bench decision can be fair.

I refuse to fall for the criticism that I am without compassion and do not want everyone to get health care. Citizens who earn nothing or very little can get Medicaid benefits. Everyone can get health care through Emergency Rooms across the land. We need to reform insurance.

I know that since medical procedures will be covered under Obamacare that We The People will be paying for abortions. He is lying to us. Again. There are no death panels but there are panels that will decide treatments in the HR bill. He is lying to us. Again.

Stronger is the country that lets individuals control their own lives. Stronger is the government who controls the lives of individuals. One is slavery in the worse way.

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Clunkers

Cash for Clunkers took about 690,000 seasoned cars off our roads. Gone are those assets, those sources of parts and cheaper wheels for the less healed.

I have heard many voices reporting that the $4,500 will be taxed to the new car owners as ordinary income on their 2009 income taxes.

Much research does not bear that out; however, several states have tax codes that consider the event taxable. And, besides, most states with sales tax collected on the full cost before the government "gift" was deducted. A $20,500 car that earned a $4,500 deal would cost the consumer $16,000 out of pocket or on credit plus sales tax on $20,500.

Now if the US government, which is hungry for revenues, comes back and levies against the $4,500, the owners should be allowed to deduct from that number a reasonable value of their clunker such as Blue Book. Time will tell on that.

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Email Scare

I have been off my blog for several weeks. Most of you know about the White House asking that emails and blogs that contain fishy health care information be forwarded them.

I became scared soon after my 2nd of 4 emails from David Axelrod landed in my email box. I understood that the White House had my email address because of several correspondences I sent regarding my concerns.

Axelrod's email of July 23 was titled: "This isn't a game".

It caught my attention! It appeared to be a form letter regarding the President's big news conference about health care reform. Soon thereafter came the White House plea for fishy information.

That request has been changed and I feel the threats are over. I'm still shaken but I will continue to speak in this forum about financial matters and question the spending of this administration which now exceeds the combined deficits of W's 8 years. Quite a record in less than 8 months.

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Shutting Down

Since the White House has called out the forces to turn in emails, blogs, and other communique containing dis-information, I am shutting down this blog.

I have used this forum to communicate what I believe are truths.

Obama in his own words on Youtube states that his goal is single payer (government run) health care. He knows it will take a long time but will get it started as soon as the Congress and White House are controlled by the Liberals.

I believe from the bottom of my heart that most of the town home meetings are attended by concerned citizens from all parties and all wardrobes. Even one closed door Democrat town home gathering experienced the frustrations of many regarding the "insurance reform" bill.

Note: It is no longer health reform. It is insurance reform. Spin, spin, spin.

I have read nearly 80 pages of the over 1,000 page bill. I am convinced that if your insurance changes, your only option will be the socialized medicine program.

I am convinced that the committee of government employees who will decide my treatments is pure socialism and rationed care. I am convinced the government consultants who will visit every home of a new born or home expecting a new born and every citizen over 65 will be untrained, propaganda spewing robots.

In the book 1984 it was called Newspeak. Warning, warning, warning.

I am convinced our freedoms are threatened.

I wish you all the freedoms of life, liberty and the pursuit of happiness. I wish you the freedom of speech and assembly. I pray we are not witnessing the end of all of these.

I can not sign off with 'til later because there will likely be no later once this blog is turned into the whitehouse.gov website for dis-information.

Live with God.

Game Rule Changes

The House approved an expansion of the Cash for Clunker program. The Senate is considering it this week.

However, one rule of the game has been changed. The new car does not have to be manufactured in the United States.

This wildly popular give away (and destroy assets and cost millions to administer) program has provided the local Hummer dealer with several sales.

Does this make a whole lot of sense if the target was partially to help clean our air.

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Who Cares?

Sergeant Crowley is the sole class act in this photo.

It tells it all. The lowly cop is the helper. Isn't that what we learned in school - Cops are our friends.

He reaches out while the others demand apologies for his actions. Give me a break.

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Rebates = Green?

More cash for clunker rebate $ will likely be approved today. The program is a success.

We The People are throwing more $ into the car industry under the guise of helping the environment. Of course, there will be some carbon released into the atmosphere to accomplish this. The smashed cars will be trucked to rail cars and shipped west. Then they will be loaded onto ships and transported to China where they will be melted down. I'm not sure there are any clean air rules in China.

I understand if your clunker gets 18 miles per gallon and you purchase a new 22 mpg car, you could get as much as $4,500 rebate. However, if your clunker gets 19 mpg and you purchase one of those hybrids that get near 40 mpg and cost nearly $40,000, you get no rebate. Interesting.

So this rebate program is just a prop to our investment in the auto industry. Think of all those union jobs Obama has saved. Is anyone keeping track of the cost of these "saved" jobs? How about the cost of the stimulus?

If Uncle Sam had cut each household a check for $4,500, that would have been a stimulus. It would have been cheaper than what Obama has spent since January. It's all on him.

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A Gift

If you missed out on the zero down or interest only or creative financing that were the norm before last fall to get into your own house, Uncle Sam has a gift for you.





If you are a U.S. citizen, have not owned a home in the past 3 years, earn less than $150,000 (married and $75,000 single), purchase your house or condo or town home in 2009, live in this house as your primary residence, and spend $80,000 on the house, you will qualify for the full $8,000 tax credit.





If your new house costs less than $80,000, your credit will be limited to 10% of the purchase price. If you earn between $150,000 and $170,000 (married and $75,000 to $90,000), you qualify for a partial tax credit.





Actually the earned income I referred to is your Adjusted Gross Income, the bottom line of page 1 of your 1040 tax form. Your AGI includes all income - your W2 earnings, your self employed earnings, and $ that your $ made such as dividends and interest, etc.





You need to live in this new house as your primary residence for 3 years. Do not worry, Uncle Sam will not required repayment of this credit. I wonder why this rule, if it has no teeth.





A tax credit is applied toward your tax liability on page 2 of your 1040. If you are due a refund from the IRS, the $8,000 will be added to your refund! If you owe, that balance is covered by part or all of the $8,000. You will owe if your tax liability exceeds $8,000.



I have heard there are lenders who will cover the $8,000 through a side loan which you can repay next Spring. So, maybe you can still buy a house with zero down.

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White House

The White House is considering options. The Cash for Clunker program has disbursed the $1,000,000 already. It was thought the program would last longer than 4 days.

Possibly the White House needs to rethink other numbers.

The Obama Care program has promised in-home consultations with new mothers. Training is baby care and child development are promised.

Obama Care will provide specialized consultants for each senior citizen 65 and older every 5 years to influence end-of-life decisions.

Obama Care will overview all physicians to assure tonsils are not removed for financial gain.

Obama Care will put those ugly health insurance companies out of business in less than 10 years. If your coverage lapses or you become self employed, your only option will be the government. (Page 16-17)

Medicare for everyone.

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Good Intentions

The US income tax began in 1913. Most Americans paid 1% of their income to the government. The richest paid 7%. The people were told it would never exceed 10%. Ever.

When President Wilson decided we needed to participate in World War I (less than 5 years later), the income tax rate was increased to 7% with the richest paying 77%. That is not a misprint. 77%.

When Social Security was first set up, the average life expectancy was 63 years. A few would benefit while everyone contributed. We live longer, we pay in over 6 times the rate as initially established, and many receive the benefit.

Fannie Mae/Freddie Mac not own over 1/2 of all homes.

With good intentions, government helps a little. Then it's almost as if it feeds on its own greed. Soon we are all enslaved to its programs.

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Who Are They?

There are 47 million without health coverage. Who are they?

9.1 million of these uninsured earn more than $75,000.

17.5 million of these uninsured earn more than $50,000.

1.8 million are age 18-34. They are referred to as the invincibles.

Christian Scientists usually forgo health coverage due to religious beliefs.

There are millions who do not take advantage of Medicare and Medicaid.

There are the multi-millionaires who can afford it but can cover health needs independently.

These statistics are American citizens. Many sources state the actual number who can not afford (earn below $50,000 yet too much to qualify for existing government systems) coverage are less than 16 million.

To cover 1/3 of these (government estimate) it will cost you and me $1 Trillion.

Is it to help the helpless or to control the masses, Mr. President?

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Our Borders

Bob is out of town on business. He is in Toronto this entire week. To enter Canada on business he had to have a letter from the company there inviting him. He also took his passport. He was asked if he was bringing in any tools. He claimed his computer.

Canada would not let him in if they thought he was going to do a job that a Canadian could/should be doing. Bob is an independent set of eyes working for a company in the US that buys products made in Canada. His inspections are to assure the purchaser that certain procedures and records are appropriately being followed and done.

Why can't the US control the in-flows of illegals? Why can't we stop those who are coming in to do jobs that Americans should have?

The Obama administration has eliminated raids. He will arrest and prosecute employers found employing illegals but will protect the illegals. He has removed some of the power of local police in regards to illegals and has instructed the Social Security Administration to not follow up on "no match" social security numbers.

Under Bush if an employer hired more than a couple of workers whose name did not match the SSA records, they could be raided. But no longer will that happen.

If we are loosening our power over the hiring of illegals, what hope do we have? We pay for their education, their health issues as presented to the emergency rooms, and they give their vote (do they have a one?) to the Dems every time?

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11% Increase

If you owned a small business, you would cherish good workers and reward them according to their value to your company. If your employers earned minimum wage, today they are receiving an 11% increase in gross pay. Will that make a difference to your bottom line?

This is the third increase in as many years. This "pill" may be difficult for some businesses. Will it hurt the economy?

One economics professor believes that the Friday increase couldn't be happening at a worse time. The U.S. economy lost nearly 3.4 million jobs in the first half of 2009, which is more than the 3.1 million lost in all of 2008.

Some states have minimum wages greater than the federal $7.25 per hour.

One analysis shows that the 13 states with the highest minimum wage experienced higher unemployment levels than the other 37 states. The unemployment rates were higher by an average of between 1.75% and 2% in those 13 states during the three-month period ending in May.

Will the increase actually cost our economy?

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Can't Be!

From the Fox Nation: "The total potential federal government support could reach up to $23.7 trillion," says Neil Barofsky, the special inspector general for the Troubled Asset Relief Program."

Troubled Asset Relief Program is TARP. It all began last fall. Do you remember McCain coming off the campaign trail? Paulson was warning that the entire financial structure would crumble by the end of the week. So We The People starting giving $ to banks and taking over Fannie Mae and Freddie Mac.

Of course, somewhere in there, we let a few financial institutions fail but we forced $ on banks that said they didn't need it. TARP continued into this administration.

So the cost of letting things fail, enter into bankruptcy, sell off assets, regroup or not, and get on with things is nearly 24 million million.

I have no idea where one finds that kind of capital to cover the expense. I don't know one person who is worth one trillion. The Treasury workers at the presses are working over time. If we print more and more, is the bill in my purse worth less? Why wouldn't it be?

Is this the time for us to take on another $1 Trillion to take over health care?

I suggest we open the state regulations and open the doors of insurance companies to sell to small businesses and individuals under something called competition. A business in NY can not reach out to a program in PA or NE without an office in NY. Open the restraints and let competition work.

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Abortions

Obama believes all health coverage (private and his previous government run) should include coverage for abortions.

We know his plan will include full coverage for abortions. I think that particular procedure will be easier to get than a mammogram.

Please listen carefully to the critics of this 1,018 page bill. This bill has been published and read. That may be Obama's big mistake on this one.

But as the bill is read and questioned, Obama is stepping up the sympathy rhetoric. Today he appeared in a children's hospital with bleeding heart stories. He is sounding desperate as the critics are uncovering all the lies.

We will not get to keep our own coverage. We will not get to keep our own doctors. Those at the end of life will be denied, denied, denied. For most ailments, we will all end up in the emergency room or a clinic in a line waiting and waiting.

Obama is lying. Watch him carefully. This health care reform bill will cost all of us in taxes or loss of coverage or our very lives.

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Not Applicable?

You have health coverage through your employer or you purchase coverage because you are self employed. Obama will let us keep our policy and our own doctors. Repeatedly he has made this statement that Obamacare will not change what we already have.

He lied.

Investor's Business Daily discovered on page 16 of the 1,018 page bill something that clearly states things will change.

"Except as provided in this paragraph, the individual health insurance issuer offering such coverage does not enroll any individual in such coverage if the first effective date of coverage is on or after the first day of the year the legislation becomes law."

Those who have private individual coverage won’t be able to change it nor will those who leave a company to work for themselves be free to buy individual plans from private carriers.

The Lewin Group estimates that 120 million or more Americans could lose their group coverage at work and end up depending on the government run program. That would leave private carriers with 50 million or fewer customers. This is probably not enough to sustain the health insurance industry. Therefore, we will each be on the government dictated plan eventually.

Beyond this, the Democrats have wanted to do away with health savings accounts. They want to crush that alternative because nothing gives individuals more control over their medical care, and the government less, than HSAs. Bob and I have a HSA that we fund for future medical needs.

We can defer taxes on our contributions now but they are taxed when we need the $. Very much like a medical IRA. The Democrats prefer that we all become needy little children relying on the Nanny State.

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Kill the Messenger

Like Nancy P attacked the CIA for always lying to Congress, soon the President will slaughter the accountants who are coming back with the numbers regarding the harm the Obamacare plan will cause.

Kill the messenger. Deflect any who dare question you. Prosecute those who do not agree.

No, we are not a communist society. Big Brother is always right. The workers need to give more and more and more.

Kill all messengers and any one else who dare to disagree. Turn off talk radio. Arrest Levin, Hannity, Limbaugh, Beck, and everyone at Ayn Rand's group. Lock them up without rights. They are lower than terrorists.

Kill the messenger. Some of us are watching and remembering. Elections have consequences. We are watching the destruction now but will vote in 2010 unless the right denied.

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Rob Jobs

Do you work for or want to work for a company that is in the business of making money? Contact your senators and your representative now.

While we were watching the debate on health care, they passed the Cap & Tax bill.

While we are attending to Sonia's revelations and worrying about the Cap & Tax, Obama will get his health care bill. Please watch. He demands it by the end of the month. Demands it.

Small businesses will be forced to fire employees immediately. A friend whose family has run a machine shop in eastern Indiana since 1956 is very worried. They employ 22 full time non-family workers. They will have to cut 3 jobs right away and may face closing the shop. The income from the shop also supports 4 family members representing 3 families.

I have wondered why GE is such a promoter of government run health care. I am convinced it's the money. If GE has employees who can get free coverage from Uncle Sam, GE is off the hook for their expensive plans. The government offered plan will improve their bottom line. It would be true for many corporations who don't pay taxes but pass profits on to stockholders. It is the small businesses who pay taxes that will die under the government run plan.

And, oh how efficient the government plan will be. Think Amtrak, think post office, think $200 toilet seats. Check out the VA hospitals for a glimpse of our health coverage options. Check out the lines outside clinics in Canada (where those who can own their own health insurance coverage). It'll be very bad to be enslaved to Uncle Sam.

The health care changes will not create jobs. In fact, eventually when all health insurance companies are closed down, there will be millions out of work. Millions more dependent on the government for health, home, and food.

This health care plan will be the final blow. The United States of America will die. I am thinking the great nation of Texas sounds pretty good. Call or contact your Senators and Representatives right now. Do it.

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Electric Bill

I am grateful that global warming has kept this July at one of the coolest of record for decades. The air conditioner has been kicking in late in the day. By mid morning we pull the shades along the south and west sides.

But more importantly we have the thermostat set at 78 degrees. It's not cool in here but with fans running, we sleep quite well. There is no need to set the air lower. It's there for comfort.

Still we know our electric bill will be higher than June's. We hope it's lower than last July's.

We all need to find ways to conserve power because power = cost. If the Senate passes the Cap and Trade bill, it will cost us all much more. This is especially true for the electric companies that burn coal. Join me in contacting both of your senators now.

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Timing

Yesterday's tale about our dream and our saving toward it was not meant to be a brag. It was meant to encourage goal setting, patience, and saving.

Bob and I both agree that if we had not discovered lake property the year that we did, we would likely have had to shelf the idea again.

With the economic rumbling early in 2008 and the panic of that fall, we would have known not to spend the dream money. And if we had waited until 2009, we likely would have realized such a set back in our investments (like everyone else) that the thought would be scrapped.

Besides dreaming, goal setting, and saving, there's the timing issue. Know when the time is right and not having to live with regrets.

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Dreaming, Goal Setting

Bob and I are enjoying our little lake house. Since we were first married (back in 1975), we have dreamt of a place on water. For several years I searched out farm land with ponds in Indiana. We actually came close on 15 acres in Whitley County but it wasn't meant to be. It made little or no sense to make mortgage payments and land payments while raising our daughter.

For 10 years or better we rented lake houses for a week each summer. For 4 years we drove 7 hours north into Wisconsin to a property that consisted of a lodge and three houses. One had one bedroom and was near the water, one had 5 bedrooms and 1.5 baths, and the third had 3 bedrooms, one bath, and a large screened in porch. We rented the last one each year. We would rent a boat with small motor and fish away the days.

For 3 summers we rented a small place on Pretty Lake in northern Indiana. It had one decent bedroom and a loft. It was rustic and quaint with a stone fireplace. The screened in porch there looked down over the lake. The steps down to the water were equal to 3 flights of stairs. It came with a fishing boat with motor. With no air conditioning we always ended up sleeping on the floor in the open room.

As we continued to dream of our own place on water, we investigated lakes in Illinois including Springfield Lake and the lake in Danville and some lakes along the border with Wisconsin. The dreaming continued. We stayed at a state park in southern Illinois once and loved to visit Bob's brother Roy in New York. He lives on one of the Finger Lakes.

In 2007 we finalized the details we would want in a place. Our dream had a definition. We decided to expand our search criteria still hoping to keep within 2 hours of home. We set a $ amount we thought was reasonable and I started searching on line.

In April of 2007 I drove to Fort Wayne to visit my dad. We talked a long time about the lakes in northern Indiana and the property his sister had back in the 50s and 60s. I recall those day trips and even renting a cottage near Uncle Bill one summer. Then Dad told me that he and Mom actually passed up a building lot on the water near Uncle Bill. With 5 kids, they did not have the $1,000. He said, "Don't live with regrets."

So my focus swung to northeast Indiana. There were dozens of places within our set $ limit. When Bob and I next got to the area we drove by several of them, judging them from the printed specs and the outside.

I mentioned that often the seller will settle for less than asking price and that I had printed a few that were just over our limit. So we took a couple of hours and drove by several outside our price range. One stuck us out from the outside and the specifications listed on the sheets. It met all but one of our criteria. It was on a well and had no option for city water. It was being sold fully furnished. The pictures from the web looked promising.

We called the realtor. She was very friendly and told us, "Oh the one of Witmer. It's been lowered to $XXX." Just within our upper limit! She met us and showed us the inside of Our Dream Home on the Lake.

Dream, don't give up. Dream and look. Dream and save. Bob and I found our Dream Home at just the right time. Our lake house fits us now and will fit us for years. Our savings covered the cost of purchase. We work extra hard to cover the duplicates in utilities, insurance, real estate taxes, etc. but it's not painful because we have our dream.

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Budget Preserves Reserve

Indiana struggled this week passing their budget. Amazingly the state followed the lead of Governor Daniels. The state will preserve their $1 Billion reserve. The caution was that income tax revenues will falter. The state has an above average unemployment situation and low income taxes (around 3%).

Rather than spend their reserve, they are saving it, knowing that the climate is unstable and unusual. The cost of living in Indiana is low. There is much of the state that relies on the auto industry. The northern counties are home to RV production. Thousands are laid off.

Indiana is like many individuals these days. All reserve cash is tucked away. Many small businesses are not hiring or purchasing new equipment. Many 401(k) plans no longer receive matches from employers.

It's like a boat at sea with a storm appearing at the horizon. Many are all battening down. They are watching their spending and dedicating themselves to preserving reserves.

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IOU

It has been reported that the State of California will be issuing IOUs as they are out of $. No more $.



I believe the first IOUs be issued to government workers starting at the top.



No, Arnold doesn't need the cash but you can bet each and every other legislator, most of the clerks, several of the guards, and all of the street cleaners will get the picture.



Something has to give. If you or I run out of $, something has to give. We'd sell things, eliminate cable TV, and stop eating out. Cut expenses wherever we could. Has California cut anything?



Let the IOUs begin in Sacramento.



California is not alone. Illinois is currently without a balanced budget. It's just a matter of time before Springfield runs out of $. They will be increasing our state income tax. Will the increase be just 50% or will they go for 67%. That's right.



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Trusting?

It's been a week since the ABC/Obama infomercial. Now we may think it was a smoke screen while the House was wrestling the Cap and Tax bill through; but, the world was riveted to the wisdom of our president.

One thing Obama suggested was to save costs do not spend $ on procedures the "evidence shows are not necessarily going to improve care" for the sick and the dying. He continued, "Maybe you're better off not having the surgery, but taking the painkiller."

Maybe. But the question is, who decides?

Once again we Americans are considered idiots. We need the Nanny Government to direct our steps, provide our food and shelter, and protect us from ourselves.

Tylenol comes with warnings. It appears Americans have become so stupid that the Nanny Government must put in place one more guard rail. It has been proposed that Tylenol become a prescription med.

The Nanny Government will cost us a visit to the doctor's office (roughly $100) to get the 'script to take to Walgreens to get Tylenol.

Are there any reasonable Americans left? Any strong enough to take responsibilities for self medicating? Any strong enough to stand up against Uncle Sam deciding what procedures your loved one will get?

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Gotta Go

Bob and I have been talking about downsizing lately. He'll soon be 60 and we don't need this big house.



Now we have found our motivation.



The Cap and Rape - rather the Cap and Tax - rather the Cap and Trade bill - that the House passed Friday [even though no one - that's right - no one had a copy of it] has in it that any house sold must be inspected and brought to government set levels of energy efficiency before a sale can go through.



We would face replacing all our windows, our furnace, our roof, and all of our appliances in order to qualify for a sale. It's best we get out while we can.



I daresay no house older than 40 could pass without updated windows at least. Soon there will be no more old glass in windows. Those stately old Victorians will no longer be authentic. In fact, in most towns it might be easier to tear down houses than bring them to the level that will satisfy the Government.



I'm trying to think of one area of my life that the Government hasn't or isn't or isn't trying to regulate. I'll work on that until next time.



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Color Counting Wrong

Per Reuters this morning: "At issue in the case was whether a city can, as New Haven did, throw out the results of a firefighter promotion exam after it yielded too many qualified white applicants and no acceptable black candidates. The high court ruled it cannot.

The U.S. Supreme Court ruled on Monday that New Haven, Connecticut, discriminated against a mostly white group of firefighters who were denied promotions, overturning a decision by high court nominee Sonia Sotomayor."

In this world of ours that is turning upside down, the correct decision comes down from the highest court. Once again, Sotomayor is overturned. She has been overturned most of the time when her decisions were reviewed by higher courts. Soon she will be putting an end to that by being the majority (liberal) vote on the highest court.

Will Congress question her ability to judge blindly? Of course not and there in is the continuation of our world being turned upside down.

Color does count. Union counts. Illegal resident counts.

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Buy/Sell

"Once the government creates a scarce new commodity -- in this case the right to emit carbon -- and then mandates that businesses buy it, the costs would inevitably be passed on to all consumers in the form of higher prices." Thus said the Wall Street Journal.

A new commodity will soon appear on the exchange in Chicago. Businesses who emit little carbon can sell their holdings to the top buyer. Who would need to buy this rare commodity?

Industries - auto makers who are not exempt due to government ownership, food processors, paper makers, oil refineries. Agriculture - farmers, milkers, ranchers. Possibly recreational places such as race tracks, and boat shows.

Where it will hit us quickly will be in the cost of transportation. Fuel costs will rise and transportation industries will pass it on to the cost of goods sold. Then little by little we will see that our paper is milled in Canada or Mexico. Our auto parts makers will be forced across the border. Even the makers of solar panels and wind turbine blades will no longer be made in America - at least not the U.S.

Call or contact your senator while you still can. This large bureaucracy will be here for ever and industry will be gone forever.

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Traders

The names of the 8 Republicans who were necessary for the Cap and Tax bill to pass this week are published. I am proud that my Congresswoman stood strong.

The weak links are: Castle, Kirk (IL), Lance, Lobiondo, McHugh, Reichert, Smith (NJ), and Bono Mark. Please take note. If one of these is your representative, contact them and remember their name when their run for re-election.

Now, the bill will go to the Senate. I have emailed both of my senators. They are meer lap dogs to Obama but at least they know where I stand. I asked them to be men. Ha.

Contact your Senators now. They are all on vacation, marching in July 4 parades, shaking hands, kissing babies, and acting so wonderful. Get in their face. Let them know what you think. Ask them to stand up against this largest tax increase ever.

Make no mistake, your electric bill and mine will soon reflect this new tax. The new tax will be reflected in all goods bought. It will cost more to transport and to build. Nearly everything will be made under skies that are not regulated by President Obama by hands that are not American.

A sad day lies ahead. Contact your Senators now. Remember, Carbon is not our enemy. Nearly everything in our lives is Carbon-based. We exhale carbon dioxide so that trees and plants can take it in. Carbon is not the enemy. Greedy control is our enemy. Slavery is our enemy. Live free.

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Home to Roost

Remember those pesty tax cuts - Bush Tax Cuts?

For 2009, estate taxes don't kick in until the estate is worth $2 million. In 2010, it is put off unless the estate is valued at $3.5 million.

Unless Congress, rather Obama who has the real power now, repeals these tax cuts, there will be no estate tax at all for the year 2011.

These past few days we have lost 3 celebs. I believe Ed McMahon was having financial trouble and Farrah may have worked her way through much of her wealth battling cancer.

Michael Jackson may have a left a chunk of change to his kids and chimp. It would have been better if he had made it to 2011. Estate taxes can be as high as 40-50% federal and California will be nearly solvent once they collect from his estate.

Just wanted to share that Bush did leave behind a few nice things. Maybe that's why Congress is so anxious to tax cigarettes and carbon. Soon they will be taxing our health benefits. All of this because of Bush' tax cuts. Damn George.

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I'm Convinced

After only 15 minutes of last night's one-sided ABC sales job, I am convinced that you and I will soon be wards of the government. Someone who believes the way Obama does will decide if I need that extra blood test and if I'm worth the chemo treatments to fight my cancer, should that be the case. They will decide my worth.

Obama didn't even answer the first question. It was very revealing and dividing. He has the votes and he will get the change he demands. ABC gave him the opportunity unchallenged to sell us on his socialist program surrounded by what was presented as the Medical Society.

This morning all the talking heads are asking why the Republicans and others haven't come up with a plan of their own. Has anyone asked them? Has ABC set aside an hour for other creative plans? Has ABC asked all medical personnel the hard questions about costs?

Bottom line. Does ABC care at all? They had the President all to themselves. They refused to run ads from opposing interest groups. That's right. Refused their ad dollars because it didn't fit the evening. They had no place for opposition.

I am convinced ABC wants socialized medicine for each of us. I have contacted them through their website and declared myself free of ABC.

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Deductions Taxed

On a company's tax return, it can deduct many expenses such as utilities, subscriptions, insurance, 401(k) match portion, FICA/Medicare matches, travel expenses, salaries, and depreciation (formulated costs of wear and tear of assets).

Our government is on the verge of collecting taxes on certain of these expenses. Not through the company's tax return, but through employee's W2 wages.

A friend works for a large medical office. This weekend, the company had a picnic for all employees and their families. The event included a meal, activities for children with prizes, door prizes for adults, and admission to the Zoo.

The day will come (sooner than later) when my friend's W2 will reflect the cost of her meal as well as her "date's" and an equal portion of the extras enjoyed that day.

We know her health coverage will be on her W2 as early as 2010. Possibly Uncle Sam will have her pay taxes on her employer's portion of her Social Security and Medicare. The company's "match" of her 401(k) will be taxed in the future when she draws it out. Maybe Obama can figure out how to tap that benefit too.

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Unfair

The latest thinking on taxing employer provided health care insurance has me steamed. Sen. Baucus is behind this one.

If you are a card carrying union worker, you would be exempt from taxes on your employer provided health insurance.

Outrageous. Pander, pander, pander.

Union workers, at least most of them, have wonderful health coverage. Bob and I pay $4,800 for our policy plus the $1,500 each deductible. Because we buy our coverage through an employer's plan, we would also face taxes on a portion considered a benefit.

Unfair. Un-American.

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What Costs $4 Trillion?

The report is out that for $1.6 Trillion we can provide health coverage for 1/3 of the uninsured American people.

So, for a grand total of $4.8 Trillion, all of our uninsured can have health coverage.

When asked if Congress will be giving up their Gold Measure health coverage and enjoying the coverage offered to our uninsured, the answer was a flat no.

I bet if your employer could not match the Government Health Insurance coverage, they would opt out and let you apply for the US policy yourself. When we all either lose our employer provided coverage or we can not afford the taxes due on the benefit, all private health coverage insurance companies will fold. We will be left with - socialized medicine.

Sell your stocks in insurance companies now.

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Unlawful Dismissal

First, let's remember that the news reported in this country is filtered. You can hunt but you won't find this story on the front page of the papers from last week. Go ahead and try.

Back in 2006 George W. dismissed 8 Attorneys General. I know you read about that. How dare he. Well, it turns out under the law, he can. They serve at his request. At that time little was brought up about the 93 Attorneys General dismissed under Bill Clinton. Strange that W. got so much flack over his decision.

Now to last week. A different type of watch dog position is the Inspectors General. This band of reputable individuals diligently watch the $ flows, especially investigating fraudulent usage. One distinguished and seasoned Inspector General was watching the grant funds coming out of Americore. He had discovered (although it won't be reported either) fraud linked directly to Kevin Johnson, mayor of Sacramento.

Inspector Generals are protected. Their released demands a 30-day notice to Congress plus statement of cause. That is the law.

Gerald Walpin was the watch dog that discovered the problems with Kevin Johnson's misuse of Americore funds.

Wednesday night he was fired. One hour notice. Resign or you are fired. He refused to resign. He's an attorney and knew this action was against the law.

We may no longer be a land of law and a land of truth in reporting. Gerald's story may yet burst onto the scene. However, will Obama's feet be held to the fire? You see, Kevin Johnson is a very big supporter and friend of the president.

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From Circulated Email

The year is 1907, over one hundred years ago.




Theodore Roosevelt's ideas on Immigrants and being an AMERICAN in 1907.

This is the quote from Teddie:

"In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else, for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person's becoming in every facet an American, and nothing but an American...There can be no divided allegiance here. Any man who says he is an American, but something else also, isn't an American at all. We have room for but one flag, the American flag... We have room for but one language here, and that is the English language.. And we have room for but one sole loyalty and that is a loyalty to the American people."

Every American citizen needs to read this!

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Not Racist?

It has been enough time that Sonia's writings and speeches over the past 15 years have be read by many in Congress.

In 2001 at a conference she said, "I would hope that a wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male who hasn't lived that life."

It was not the first time she had said a similar thing. In fact, several sitings show she was fond of that line about a wise Latina woman.

Not racist? What if I said, "I would hope that a wise white woman with the richness of her experiences would more often than not reach a better conclusion than a black male who hasn't lived that life."

Racist? Sure. By both Sonia and myself.

But beyond the fact that race carries much weight with her, she also feels that law sometimes need to be created from the bench.

Our forefathers were smart enough to divide duties and put in place balance. We have three arms of our government. The Administrative Branch which includes the President and Vice President - little power. The Legislative Branch - law makers - much power and many heads. The Judicial Branch - law enforcers and law appliers.

One creates a law, one endorses the law, and one upholds the law. It is not the purpose of the Bench (from the smallest to the Supreme) to make laws.

However, this week we saw the Supreme Court turn away from the question of breaking contracts. They let the Administrative Branch break a contract without so much as a hearing.

We witnessed the power of this Administrative Branch. Power not given by our Constitution. We witnessed the weakness of the Judicial Branch. We deserve strong Benches.

The world has turned upside down. Racist comments made by a non-white are OK but a white best not go there. The President breaks contracts without a thought except for the mighty UAW. He threw thousands of Indiana teachers under the bus for the UAW and all those votes. How dare he!

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