Archive for October, 2011

President Obama Announces Plan to Boost College Tuitions

October 26th, 2011 8:40 pm  |  by  |  Published in Economics, Obama, Peter Schiff  |  1

by Peter Schiff, CEO of Euro Pacific Capital, and host of  The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at www.schiffradio.com.


President Obama today announced a plan that will ensure students are able to commit to higher levels of federally backed student loans. By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will be able to continue to raise tuitions at a rate that outpaces nearly every other cost center in the American economy. The move will come as a great relief to an education establishment increasingly concerned that students might no longer be able to afford skyrocketing tuition rates.

The AP reported today that state support for higher education has fallen 23% after accounting for inflation over the last ten years, even as tuitions have risen 5.6% faster than CPI. This gap has been bridged by a whopping 57% increase in federal student loans over the same time period due to the increased cost of tuition and number of student enrollment. Read More »

Four Reasons to Repeal the Patriot Act

October 26th, 2011 8:19 pm  |  by  |  Published in congress, DownsizeDC.org, Liberty, patriot act, privacy  |  6 Responses

Quote of the Day: “In seeking the needle of terrorism, we have built the biggest haystack in history.” – Zachary Katznelson

Ten years ago this month, Congress passed the so-called Patriot Act without taking the time to read or debate it. It was signed into law on October 26, 2001. This tenth anniversary is the perfect time to call for its repeal.

That’s why I wrote the following letter. We encourage you to write a letter of your own, or copy or borrow from this…

The Patriot Act should never have been passed. Ten years later, it should be repealed for at least four reasons…

First, the Patriot Act attacks the First Amendment…

* Americans can be investigated for what they read and write, and what websites they’ve visited
* The Feds can “gag” my bank, my librarian, and my Internet Service Provider, preventing them from telling me if I’m under investigation

Second, it undermines the Fourth Amendment… Read More »

Can States Nullify Obamacare?

October 20th, 2011 9:24 pm  |  by  |  Published in congress, Constitution, Court Cases, DownsizeDC.org, Liberty  |  Comments Off

If you had a chance to stop Obamacare, AND advance the Tenth Amendment right of the various states, to interpose and even to nullify actions that restrict the liberties of individual citizens, would you want to take it?

There has been a flurry of activity in the Supreme Court as the U.S. Department of Justice and other litigants have filed petitions seeking review by the nation’s highest court of the constitutionality of Obamacare. There is no doubt that the Court will agree to hear most of these cases. But one case might not make the cut.

The Commonwealth of Virginia has challenged the Obamacare provision that mandates individual Virginians must purchase a health insurance policy approved by the federal government.

The Virginia suit was decided on the merits, in favor of Virginia, in the district court, but was then reversed on appeal by the 4th Circuit Appeals Court. The appeals ruling was NOT on the merits (or Obamacare probably would’ve lost), but on the ground that Virginia had no legal “standing” to sue. This panel, all of whom were appointed by a Democratic President, ruled that . . . Read More »

Herman Cain’s Hidden Extra Nine

October 18th, 2011 11:15 pm  |  by  |  Published in Economics, Election, Liberty, Peter Schiff, Polling, Social Security, Taxes  |  Comments Off

by Peter Schiff, CEO of Euro Pacific Capital, and host of The Peter Schiff Show, broadcasting live from WSTC Norwalk CT from 10am to noon Eastern time every weekday, and streaming at www.schiffradio.com

Herman Cain has been gaining much traction with his 9-9-9 Plan, a bold proposal to replace our dysfunctional tax code with what could be a simpler, less invasive, and more economically stimulative alternative. While I don’t agree with the full spectrum of Mr. Cain’s policy choices, I applaud his courage on the tax front. Judging by his rising poll numbers, this appreciation is widely shared. However, the plan has deep flaws, the most glaring of which is its creation of a hidden payroll tax which represents a fourth “nine.” This serious pitfall has been unmentioned by Mr. Cain and overlooked by those who have analyzed his plan.

Cain would replace the current system of income and payroll taxes with a 9% flat-rate personal income tax, a 9% corporate tax, and a 9% national sales tax. Great idea. Such a system would unburden businesses, provide a tax cut for most Americans, and shift taxation to consumption and away from income generation. This is exactly what our economy needs. But unlike our current corporate tax system, the plan eliminates the deductibility of wages and salaries from corporate income. The net effect is the creation of a brand new 9% tax on wages. When this fourth 9 falls from Cain’s sleeve, many of his opponents will likely accuse him of cheating.

Read More »

Q&A with Harmon Kaslow, producer of Atlas Shrugged Movie

October 13th, 2011 10:43 pm  |  by  |  Published in Books, Free Market, Individual Responsibility, Liberty, Market Regulation, Politics, Socialism  |  2 Responses

The highly acclaimed Fox film adaptation of Ayn Rand’s New York Time’s bestselling novel, Atlas Shrugged, will be made available on DVD and Blu-Ray on November 8. The messages are vitally important in regard to the 2012 election as individualism, encroachment on the free-market, socialism and anarchy are explored in this timely and influential film.

The movie is set in 2016 as the United States is on the brink of economic disrepair, eerily paralleling the current U.S. economic crisis. Young executive, Dagny Taggart, runs one of the largest remaining railroads. To save the railroad from financial ruin, Dagny seeks out entrepreneurial industrialist Henry Rearden, whose super-strength metal holds the promise of the future.  As government interference cripples economic growth, the country’s most competent and productive workers systematically disappear, expanding the realm of government influence and control. Dagny fights back against the growing influence of socialism.

Below you will find a short Q&A with Harmon Kaslow, producer of the film: Read More »

Should Congress Impeach the President?

October 5th, 2011 10:21 pm  |  by  |  Published in congress, DownsizeDC.org, Obama  |  2 Responses

Quote of the Day: “It isn’t illegal if the President does it.” — Richard M. Nixon

We have re-launched a campaign to impeach the President. The sample letter below will explain why we have done this.

WARNING: Those who maintain partisan loyalties may wrongly believe we are pursuing this campaign for partisan reasons, or out of personal animosity for the President. Nothing could be further from the truth. We want to make this clear . . .

  • Our organization is legally non-partisan, and temperamentally ANTI-partisan.
  • We distrust all political parties, and all politicians.
  • We take NO position for partisan political reasons, for the simple reason that we have NO partisan political loyalties, AT ALL.

Instead, we are doing this because we think the legal situation requires it. The sample letter below will explain in more detail. But . . . out of respect for those who may disagree . . . we are placing this campaign on the “Heresies” page on our website. As always, you are a free to disagree with us, and to tell us you disagree.

On the other hand, if you strongly support our position, you may want to help us notify the media about it (see more details below the sample letter).

The hardwired portion of this campaign’s letter to Congress reads . . .

Please begin impeachment proceedings against the President. Read More »

Oppose the E-Verify National ID System

October 3rd, 2011 8:04 pm  |  by  |  Published in congress, DownsizeDC.org, Liberty, Politics, privacy, REAL ID  |  Comments Off

Quote of the Day: “And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.” – The Book of Revelation 13:17

The House is considering H.R.2885, the “Legal Workforce Act.” This bill MANDATES that ALL employers use the “E-Verify” employment verification system. We strongly oppose this bill. It is REAL ID on steroids.

Many reading this have spent years fighting successfully against REAL ID. It seems a shame to lose the battle now simply because the politicians have finally found something — immigration — that scares enough people to make us submit.

We understand that some people who say they want to shrink the federal state just as much as we do, still support E-Verify. They claim this new dictate is needed to combat illegal immigration. We seem to be “heretics” in this case because we believe… Read More »