Friday, October 24, 2008

If your property for public benefit, why not your investments?

"Eminent domain is the power governments have to confiscate, or take, private property as long as it is for a legitimate “public use” and property owners receive “just compensation.” Whereas eminent domain was initially intended to ensure that public services, such as roads and highways, were available to the public, local and state governments often use eminent domain for any project that is considered economically beneficial. Public use, as a practical matter, has morphed into a more ambiguous “public benefit.”

An estimated 10,000 cases between 1998 and 2002 involved projects where private parties benefit substantially from government seizures of property under the banner of economic development or urban redevelopment." Eminent domain, private property and redevelopment

Yes, those of us who invested in 401-ks, IRAs, Roths and other vehicles (with or without our employers) got a tax break--and we fueled the powerful economy we've enjoyed the last 25 years. We, the investors, aren't the ones who brought it all down. Hands off, Congress. Hands off, Barney and Barack. You've done enough damage.

Finally someone bold enough to use the S word. No wonder Obama's hiding in Hawaii. I imagine he went there to cover for his Kenyan birth certificate and now has just decided he'd better lie low, or, just lie.

This comment at the USNews blog was good: "I'm encouraged that Obama will make our senior citizens earn their paychecks. Michelle spoke at length that people will be made to work and there will be no shortages of volunteering opportunities. Let's clean up our streets, get seniors out raking leaves, picking up trash, cleaning up dog droppings in our parks, mowing city property, mentoring children in the schools and serving other useful functions. Every government dollar provided should be met with enthusiastic joy and reciprocity by the receiving citizen. An idle citizen is an unappreciated citizen."

1 comment:

Hokule'a Kealoha said...

Hi there..I have reserved political comment on this... Obama is a TYPICAL Hawaiian politicial. Big earmarks, high on the corruption scale and that birthcertificate...the county offices are notoriously inefficiant and likely it was misfiled....but someone stealing it for a PRICE is very likely... and he has it. Perhaps is fetching it now...hmmmmm