Friday, March 27, 2009
To: Friends Of Free Enterprise
From: Gary L. Bauer
Defend Free Enterprise
This is the first issue of our new weekly report dedicated to defending free enterprise, capitalism and the entrepreneurs and business people who are the backbone of America’s economic success. They need defending because Washington, D.C., is currently controlled by politicians and bureaucrats who are using our economic and financial crisis as an excuse to push European-style socialism, raise taxes on our most productive citizens and grow the size and power of the federal government. In the process they are burying us and our children under massive amounts of pubic debt that inevitably will weaken and devalue our currency.
The anti-free enterprise juggernaut is fueled by a media establishment that displays more anger and hatred of American business than it does of America’s enemies. In addition, segments of the public experiencing deep financial anxiety and rising unemployment are very susceptible to raw class warfare rhetoric. There are no shortages of politicians willing to stoke those flames. There have always been populist demagogues. But today we are witnessing a new change in public discourse with the advent of “professional” leftwing agitators committed to turning public anger against investors, business owners, entrepreneurs and successful Americans, without whom there can be no economic recovery or long-term economic growth.
If you are an employer, entrepreneur, investor or simply an American who hopes to achieve the American Dream, it is essential for you to organize and take a stand now. There are millions of you. Together you can be a formidable force to stop the dead hand of Big Government socialism from being imposed on our country.
In these weekly reports, we will do our best to provide you with the facts and arguments you need to defend your business and your values.
Facts You Can Use
If we are going to stop the power grab by Washington’s bureaucrats and politicians, it is essential for us to have the facts. You can share these reports with co-workers, employees and in letters to your local newspapers.
# President Obama’s federal spending this year will top $4 trillion. That is over 28% of our entire gross domestic product (GDP). This is the highest level since World War II.
# President Obama has proposed $1.9 trillion in additional taxes on small businesses, capital gains and income. Raising taxes when the economy is weak is the opposite of what is needed to stimulate economic growth.
# If President Obama’s budget is passed, he will add $9.3 trillion to the national debt, doubling it in six years and nearly tripling it in 10 years, according to the Congressional Budget Office (CBO).
# Senator Judd Greg of New Hampshire, who strongly considered becoming Secretary of Commerce in the Obama Administration, says that the Obama deficits are “unsustainable” and will bankrupt the country.
Here’s a brief video of Rep. Paul Ryan of Wisconsin pleading with moderate-to-conservative “Blue Dog” Democrats in the House to oppose Obama’s budget.
TAKE ACTION: Please call 202-224-3121 and urge your senators and representative to oppose the outrageous spending in this budget. And please encourage others to do so as well.
How To Ruin An Economy
Virtually every solution being offered by the Obama Administration and supported by liberals in Congress is bad for our long-term economic health.
# The president has proposed tax cuts for some families that work out to about $12 a week. To pay for those cuts, he is proposing raising the top marginal tax rate to 39%, increasing capital gains taxes, increasing taxes on self-employment income and limiting tax deductions for mortgage interest and charitable gifts.
# He has proposed spending that in just a few years would increase the federal debt more than the entire debt accumulated in our nation’s history from George Washington to George W. Bush.
# He is proposing a series of new energy taxes, which would hit the American heartland and Midwest particularly hard. Companies most impacted will be utilities and manufactures. Initial public estimates indicated that the new “cap and trade” fees will bring in $650 billion – another big hit to American industry. But a top White House economic advisor recently told Senate staffers in a closed meeting that they could raise as much as $2 trillion!
The Anti-Business Juggernaut
We closely monitor Congress, the federal agencies, the White House and courts. In 35 years in Washington, I have not seen an environment more hostile to business and free enterprise and more poisoned by class warfare. Here are just a few proposals being discussed by legislators/politicians, as well as other disturbing developments.
# Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, has suggested regulating all corporate pay, not just the salaries of executives in companies that have accepted taxpayer money through TARP.
# Senator Dick Durbin (D-IL), the second highest-ranking Senate Democrat, is drafting legislation designed to encourage candidates to spurn campaign contributions from corporate political action committees in favor of public financing. Meanwhile, organized labor is pushing hard for “Card Check” legislation that would make it much easier to unionize businesses.
# Labor unions and community groups like ACORN (the group under investigation in multiple states for voter registration fraud last year), have been sending bus loads of demonstrators to the homes of business executives to intimidate and harass them and their families.
# Brave congressmen who have voted against massive new debt and higher taxes are being targeted in their home districts with multi-million-dollar ad campaigns paid for by a variety of leftwing socialist groups in an effort to smear them, driving down their public approval ratings.
# An increasing number of leftwing politicians, including President Obama, are now openly saying that government should use its power to take money away from successful Americans and redistribute it to various political constituencies.
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