Hits and Misses: 5-1-09

It's May Day!  And given that it comes only 1 day after Obama's 100th day in office, and the route our government's taking lately, it's time we all celebrate like good little socialists.  Workers of the world, unite!

Many taxpayers to get a rude surprise.  Well, surprise!  It seems that millions of people who think they got a windfall from Obama's "Making Work Pay" tax credit are in for a shock.  That being, the government screwed up the tax tables and, as a result of your using them, they're gonna' want some of that money back.  The IRS has acknowledged that there are problems with the tables, but done little to ware taxpayers.  Since they'll be wanting that money back, does that mean consumers can take back the "stimulating" they did to the economy with it in the meantime?

For that friend or relative who has everything.  Yes, if you've got someone on your gift list this coming Christmas that you just never know what to get, this is for you!  The Obama USB Flash Drive.  Just $8.95 at Amazon.com.  Hurry, while they last!

Most Americans think that Americans borrow too much money.  A recent Rasmussen poll shows that 68% of people think that their fellow Americans are borrowing too much, (I'm presuming they're not talking about themselves).  They also feel that too many people are getting loans that they can't afford to pay back.  Of course this is while Obama and Company claim our economic problems are due to a credit "crunch" and are working to get people borrowing more...not to mention getting the government (ie. taxpayers) to borrow more...to the tune of over 9 trillion dollars in the next decade.  If only the people that responded to this poll felt the same way about politicians they vote for.

The White House declares bankruptcy for Chrysler.  What everyone (except real free-market capitalists) had said was "off the table" has happened.  Chrysler is bankrupt.  And, if you do believe in free-markets and letting these things work themselves out, that's a good thing.  The bad thing is the the federal government, (aka Obama) is still running the show and dictating who's going to get screwed, and just how much.  (Quick hint: it ain't the unions)  Remember, in this week's deal that kept GM out of bankruptcy, the government took 50% of the company's stock...given the feds control of the company.  In Chrysler's case, the control isn't that direct due to the bankruptcy court, but Obama's doing his best to try and dictate to bondholders.  Sickening.