Here we go again. Harry Reid intends to force a vote at 5pm on Monday in a desperate attempt to push yet another bloated bill that will do more harm than good.
This time, the Democrats seem to have zeroed in on reforming the entire American finance system without bothering to read, or even consider, the many, negative, unintended consequences to our economy (and especially to small businesses) that this legislation will unleash.
Once again, the Democrats are keen to push a flawed agenda to capitalize on the remarkably convenient timing of the ever-so-welcomed, SEC fraud charges levied against Goldman Sachs.
Once again, Democrats are keen to push long standing, left-wing, ideological dreams that Americans have long resisted. But, pity the poor small business community that will, once again, be forced to pay a disproportional cost of the 1336 page monstrosity of a financial reform bill.
Embedded deep within the Democrats’ financial bill is an inexplicable assault on Angel Investors who help drive small business expansion and entrepreneurialism. Sections 412 and 413 (p.380-381) adjust (i.e.increase) the “Accredited Investor” dollar threshold to $1 million dollars–which could affect the amount of angel investing, especially those that invest in small businesses.
If that isn’t enough bad news, in Section 740B“Small Business Loan Data Collection”, (p.1219-1224), Congress requires the collection of proprietary data, and storage for three years of data that must be obtained from any small business attempting a loan.
Then, Congress stipulates that this information about the small business must be made available to the public upon request. These are the kinds of intrusive requirements that could only be drafted by persons who have no experience in what it takes to start, maintain and grow a business.
This most recent attack on small business development has absolutely nothing to do with reform of the financial system. So, we are left to wonder, why does Congress consistently tack job destroying initiatives onto these huge legislative packages, and then ram them through Congress? Do Dems hope to kill American competitiveness or do they just have no clue?
Democrats do not seem to understand that jobs and innovation are correlated? Have Democrats become so misdirected, so confused, and so arrogant that they believe that they, and they alone, must dictate how other Americans should live? Put bluntly, Democrats seem not know what is included in the voluminous legislative packages that they push with wild abandon, but they seem to think that all Americans would be better people if only they could be forced to accept the dogma of the Left.
I think it is clear that most Americans support the need for some kind of financial reform. At the same time, Americans do not want their lives taken over by the federal government. Increasingly, Americans are distrustful and worried that government is growing too large, is becoming too intrusive into daily affairs, and that our government seeks to dictate decisions that should remain private and beyond the grasping hand of government. Yet, Pelosi’s Congress, with full support and backing of Team Obama moves forward with its meddling agenda.
For example, just last week at a time when the nation is considering the very complicated reform of the entire financial industry, Congressman Waxman believed it more important to launch a campaign against baseball players and smokeless chewing tobacco. My goodness!
At a time when the nation’s debt is becoming nightmarish, when new (and more accurate) estimates emerge from CMS, outlining much higher, long-term costs of the recently passed Health Care Legislation, at a time when Americans are fighting two wars, why does Henry Waxman focus on chewing tobacco in baseball? Is chewing tobacco really the most important issue of the day? And, if so, why wouldn’t Henry Waxman start closer to home–his home–in Los Angeles, where Hollywood produces more movies and TV programs in a year with smoking–of cigarettes–than is seen in a year’s worth of baseball games?
It might seem that Waxman’s tangent into the ludicrous is simply the ranting of an unhinged Congressman, but regrettably, there are other, equally disturbing, examples of the Obama nanny state. Last week, Obama’s Food and Drug Administration (FDA) decided that the time was right to tackle the looming dangers of Americans giving their dogs a bone. Yes, that’s right. The FDA issued guidance to advise Americans to stop giving dogs their nightly bone. Doing so, the FDA argues represents a significant new risk to dogs. Who would have known?
Millions of American dogs, for hundreds of years, have been thrown a bone and were happy. But now, thanks to the advanced research of the FDA, giving a dog a bone is ruled dangerous. One might think that there are other, far more important priorities; such as the alarming concerns of loss of innovation in the healthcare industry as a result of the newly approved Healthcare Legislation, or the high cost of new drug approvals, or the difficulties of safeguarding our nation’s food supply. But, no.
Our President and Congress seem to be confused. Small, strange, picayunish issues are being pursued at precisely the same time our nation faces far more urgent issues. But, rather than focusing on, and solving, the biggest issues of the day, Democrats seem determined to launch any number of weird efforts aimed at compelling Americans to accept liberal orthodoxy and an ever more demanding nanny state.
Most curious of all, most Democrats, to include President Obama, seem genuinely confused, not understanding why the simple message of a more limited government, less intrusive in its reach, and less hectoring in its message is so compelling to millions of Americans.
Given all the misdirection of efforts going on in Washington, can anyone really be surprised that one of the most commonly purchased flags over the past year is the Gadsden flag, with a snake that says “Don’t Tread on Me”?
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