More Stupid Rules Coming Our Way

In the wake of the attempted on board airline bombing the other day, the TSA has apparently instituted more stupid rules that will make flying for everyone even more unpleasant than it already is.

Instead of biting the profiling bullet and closely scrutinizing those who fit a certain bill, the TSA will now more thoroughly pat down children, prohibit the use of electronic equipment in the last hour of flights (huh?) and not let people get up from their seats towards the end of flights. All this will do is drive travelers even more crazy because everyone knows (including the TSA) that this is not an effective way to prevent terrorism. Mainly, it's just reactive nonsense (like preventing people from bringing in liquids; what a joke!).

Ich kenesht.

A Preview of The Future...

.... under Pelosi Care

Deathly Political Correctness

It's too early to tell for sure, but all signs point to the fact that the Army received ample warning signs about the Ft. Hood murderer. It also seems that the signs were ignored or not passed on partly so as to avoid offending Muslim sensibilities.

This is a very dangerous path to go down. Radical Islam is not a religion of peace. The sooner we come to terms with that as a nation, the safer we will be.

One of the Dumbest Ideas of All Time, II

The Destruction of Wealth

Uncreative Destruction
By the Editors (National Review)

When we talk about government policies destroying wealth, we usually mean taxes that shift money from efficient to inefficient uses. Rarely do we mean the deliberate destruction of valuable assets. Yet, thanks to the Cash for Clunkers program, which ground to a halt yesterday, we now have a visual aid to help with this abstract concept. Mechanics tasked with destroying the so-called clunkers have been posting the videos on YouTube, often muttering in anger as they fill the engines of perfectly good Corvettes and Cadillacs with sodium silicate and then run them until they self-destruct. The goal of the Cash for Clunkers policy is, literally, the destruction of wealth.

To get a sense of how much value the program has destroyed in its short lifespan, keep an eye on used-car prices, which are expected to skyrocket as dealers see their inventory sacrificed to Washington’s green gods. Look also at the 12 percent decline in used cars donated to charity. This is to say nothing of the extra use their owners could have gotten out of them if the government hadn’t subsidized their destruction.

In addition to flushing tangible assets, the program has destroyed wealth in other ways. First, it has added $3 billion to the deficit, which will have to be taxed out of the productive economy at some point. That’s money that won’t be saved, invested, or spent on other goods and services. Second, the $3,500–$4,500 vouchers for new vehicles only covered part of their cost. Buyers covered the rest by borrowing or spending their own money. Some of these buyers would have purchased a new car anyway, but other car owners spent money on new cars they didn’t need because of this policy. These consumers had less money to spend on other consumer goods last month, as reflected by worse-than-expected non-vehicle retail sales. Cash for Clunkers robbed from the taxpayers and the rest of the economy to pay Detroit and a few hundred thousand new-car buyers.

Now that the program has become a furnace for taxpayer cash and an administrative nightmare, Transportation Secretary Ray LaHood wants to declare victory and go home. We should deny him peace with honor. He says the program was a success because it boosted new-car sales and helped out the struggling auto industry. This “stimulus” argument is the only leg the program’s defenders have to stand on, as most have conceded that Cash for Clunkers will provide little to no environmental benefit.

The stimulus argument is bunk, too. As mentioned above, the program “boosted” new-car sales by encouraging consumers to direct their money away from other economic uses. One could counter LaHood by noting that the program depressed other kinds of sales and investments. Also, the boost in sales is partially illusory. Car dealers expect their dealerships to turn into ghost towns once the program ends.

As for the “struggling auto industry,” eight of the top ten selling vehicles under the program were Japanese brands. Cash for Clunkers helped Detroit, but most of the money went to subsidize sales at companies that didn’t need help. The Japanese automakers make cars in the U.S., but their non-union workforces helped them avoid the catastrophic cost-structures that doomed Detroit.

In the end, though, one returns to the footage of mechanics pouring liquid glass into the engines of drivable cars and destroying them. There is no better symbol for what happens when the government takes over large swaths of the economy. It is an important image to keep in mind during the health-care debate: We may not get death panels, but we’ll definitely get sand in the gears.

Cash For Fat Wheels

Having extracted $1 billion from taxpayers (soon to be $3 billion) for the wildly successful Cash for Clunkers program, the federal government has just announced an expansion of the program.

At a press conference on Tuesday, President Obama announced a new $1 billion program, BIKES, under which owners of bicycles with fat wheels that weigh over 25 pounds can turn in their clunkers and receive a voucher for up to $1,000 that can be used toward the purchase of new road bikes weighing under 20 pounds.

Obama noted that the moribund United States bicycle manufacturing business needed a stimulus plan of its own and that, since it is much more fun and healthier to ride road bikes rather than fat wheels, this program would encourage Americans to ride more frequently thereby using less carbon fuels. As well, it would result in fewer Americans being obese. This, in turn, would reduce costs for our soon-to-be nationalized health care system.

"A win-win all around", said Mr. Obama. The president also announced a parallel program called "SHORTS" which would permit owners of traditional, baggy shorts to turn them in and receive a $50 voucher towards the purchase of spandex bib shorts (but only if you weigh less than 200 pounds. Nobody wants to see someone who weighs over 200 pounds wearing spandex; spandex is a privilege, not a constitutionally protected right).

One of the Dumbest Ideas of All Time

Cash For Clunkers

The Wacky Ways of Washington

The reason I haven't posted much is that, once again, I've been crazy busy at work. (This is unlikely to change any time soon). One of the things I've been focused on is a change in the tax code that we've been trying to get put into the stimulus spendulus bill.

(My thoughts on that horrid piece of legislation: It will not help revive the economy but will saddle us and our children with having to pay for wasteful spending for years to come). Oink.

I will spare you the boring details of the amendment save to say that it relates to something called Cancellation of Indebtedness Income tax (CODI) on "deemed exchanges".

A few weeks ago we met in Washington to plead our case with senior Treasury people. While they got the joke, they told us it needed a legislative, not regulatory, fix and recommended that we try the stimulus bill. We wrote to a few key Senators and got some coverage in what's called the "tax press" (can you believe there is such a thing?).

Then the fun began.

The amendment that we were looking for started bouncing in and out of every succeeding version of the Senate bill. On the morning of the Senate vote, it was in. We found out that the version that the Senate voted on later that day did not have the amendment.

We were not happy.

Then, on Thursday, we found out that even though the amendment had not been in the House version nor the Senate version, it ended up in the final version agreed to in the House/Senate Conference. It is now part of the 1000 page bill that Obamarama will sign on Tuesday. I have to admit, I have no idea what happened or why and I don't understand how a provision that wasn't in either bill gets put in in conference. But I'm not complaining. In fact, I'm taking full credit for it.

(The good news is that unlike most of the rest of the bill this amendment actually will help stimulate the economy).

Oy Bama

Not an auspicious start for the Messiah.

The stimulus plan is like the TSA.

Everyone knows it won't work but they make believe it will because they figure the public will be happy if the politicians do something (i.e., the mindless, easy thing) rather than nothing, and they are unwilling to put in the work to do the right thing.

With a 65% approval rating, Obama could have used the Republicans to craft a really targeted, useful plan but instead let the children, i.e., the House Democrats led by little Nancy Pelosi, loose.

This "plan" is a disaster.

Maybe Obama is not as smart as he thinks he is.

Democrats and Taxes

I finally figured out why Democrats are so quick to raise our taxes.

They apparently don't pay them!

No Caroline

Here is Caroline Kennedy's statement regarding her withdrawal from consideration for appointment as Senator from New York:

"I, like, informed Governor Paterson today, you know, that for personal reasons I am, like, withdrawing my name from consideration, you know, for the United States Senate,"

It's bad enough that we had a carpetbagging Senator from Illinois by way of Arkansas by way of Washington, DC. Even if you didn't like her you had to admit she was competent. Nothing of the sort could be said about Caroline Kennedy. Good riddance.

Pollard

I am saddened and disappointed that president Bush did not find it in his heart to commute Jonathan Pollard's sentence. I just don't get what they want with this man. While I've never been an apologist for Pollard, enough is enough. Where's the rachmanus? Very sad indeed, with virtually all hope now lost.

Thoughts on A New Era

1. Nice speech; certainly not Lincolnesque. Too much blah in the middle but he ended very strong. Could have been 5 minutes shorter.

2. The stock market is down over 200 points as I write. Obviously, Wall Street does not share the Messianic vision. It's going to be a very tough year.

3. No matter what one's politics, you had to have been a stone not to have been moved by the scene in Washington this morning. The orderly, gracious passing of power to a black man, the millions in the crowd, the stirring words (at least at the end of the speech), Aretha, wow!

4. It is only a matter of time before the whacko left starts to lose patience with their Messiah. Obama strikes me as a pragmatic politician more than an idealogue and, especially given the financial situation we are in, the nut jobs of the Moveon.org ilk are sure to be disappointed.

5. I worry about Obama's understanding of the Islamic threat. Does he really understand what he's dealing with? Does he really think he can reason with these people? I am afraid that this does not bode well for Israel.

6. I also worry about his ability to deal with the financial crisis without turning the US into a socialist country. The nationaization is already terrible (albeit probably unavoidable. See what happened to poor Bank of America who got completely screwed by the government for being a good citizen and taking on Merrill (Toxic Waste) Lynch even after it became apparent that ML was in much, much worse shape than originally anticipated).

7. What was up with the Boy President's yellow scarf? Did he want to be noticed? Maybe it was a gift from Monica.

Wow. That Was Impressive.

Whether you are a supporter or not, you have to admit that Sarah Palin's speech to the RNC rocked.

Uninspired

I rarely post on political issues. But Obama's choice of Joe Biden as his running mate was so incredibly uninspired that I couldn't help myself. It would not surprise me in the least if he loses in November.

Amazing Gracelessness

In February, I wrote:

* Will Hillary slink away graciously or will she engage in a death fight until the end? Assuming she loses Texas and Ohio, will she concede? Grace is not a word normally associated with the Clintons. I have my money on a fight to the death.

Obviously, it was no big chiddush that she would fight, tooth and nail, to the end. In a certain way, one must admire her tenaciousness.

On the other hand, even I was taken aback by her utter lack of grace on Tuesday evening when she spoke after the final two primaries.

Despite the fact that the fat lady had sung, she still wouldn't make nice and concede. What a wretched woman. What a wretched couple.

Oh Bama

I find Barack Obama very scary. His speech yesterday, besides the racial angle, reflected tired old left wing ideology. Nothing "new" at all. As far as his relationship with the Reverand Wright, comparing his relationship to Wright to that of his white grandmother is completely disengenuous on many levels. One may have made a throwaway racist remarks privately; the other openly espouses a racist theology. One is related to him (you can't choose your grandparents); the other he chose to get and remain close to for over twenty years.

And his comparison of what Wright has said from the pulpit to what Geraldine Ferraro said about Obama's success is equally disengenuous. Wright, again, is espousing a philosophy. She simply stated an obvious truth (whether you like it or not).

Random Thoughts on Election Day

* Is there a law that says election board workers must be at least 85 years old or does it just work out that way?

* I would not be surprised at all if Obama beats Hilary very soundly today. I think the people are getting sick of the Clintons. She comes off as an old has-been compared to a fresh, inspiring young face.

* I don't get the idea of wearing replica sports uniforms. What's pshat?. It is especially goofy if you are 75 pounds overweight and holding a beer. I saw an entire family this morning in Penn Station decked out in the levush. Sheesh.

* I've been going to an especially early minyan lately because of the demands of work. Because the earliest time for talis and tefilin is actually later than their normal starting time, they've put out a schedule of days and starting times. Why does the schedule say "Earliest Talit and Tefilin" when virtually no one in that shul actually speaks that way?

Oh! Bama

Last Sunday morning, I saw Barak Obama's victory speech after the trouncing he put on Hillary in South Carolina. It was electrifying. (What a contrast to the Charmless Hillary, one of the worst speakers I have ever had the misfortune to hear).

I have to admit, his inspiring speech almost gave me goosebumps.

The problem is, the actual content of his speech was downright scary. In a nutshell, he said that the federal government can solve every domestic problem, large and small and that we should abandon Iraq as soon as possible.

Of course, the federal government can't solve every problem large and small. In fact, more often than not, the government screws things up with goofy regulations, wasteful spending and actions that result in unintended consequences.

So, while his argument for change is compelling (can anyone even bear the thought of having to deal with the Philandering ex-Boy President for four or eight more years (to say nothing of the Charmless Hillary)), the change he is seeking is not exactly what I had in mind.

Why I Will Vote Republican

I am sitting in the British Air lounge, waiting for my flight back home. I have been away a long time and am looking forward to getting back. On my way to the airport, I experienced something that reminded me why I will vote Republican come November.

I was riding in a cab when suddenly motorcycle cops stopped traffic in all directions. We waited while a few cars, themselves led by motorcycle cops, passed by. The driver told me that it was, to borrow a term from Ben, the charmless Prince Charles.

This is why I won't vote for a Democrat.

If Obama wins, or, much worse, if the charmless Hillary wins, they will, no doubt, frequently visit New York City, looking for liberal money or to hang out with the liberal elite. A Republican, on the other hand, generally won't bother.

As someone who works in New York City and remembers how frequently the Philandering Boy President used to come to the City, and how it used to mess me up, I'm going Republican all the way.