While we are at it, the government should fix the following...

It's ironic that the United States Government is going to raise FDIC from $100,000.00 to $250,000.00. Which makes sense, since the limit has been at $100,000 for roughly 23 years and inflation has to be taken into account, with the cost of payrolls and doing business in 2008 dollars.

But, while you are at it, Mr. Senator and Ms. Representative, why don't you index the Alternative Minimum Tax, which has never been adjusted for inflation and is impacting people it was never intended to. AMT is hurting middle taxpayers today and should be adjusted for inflation, as well.

Finally, there are people in credit trouble who could benefit from elimination of one major flaw in our current Federal tax structure.

Previously, credit card interest was deductible, but it isn't anymore.

But, why is Uncle Sam going after consumers, when hard times it due to credit occurs from aggressive banks and credit card companies?

If a consumer negotiates a reduction of accrued credit card interest, why does Uncle Sam want to tax a piece of the unrealized savings, when zero of the interest expense was not eligible for a tax deduction in the first place?

If the Congress wants to help credit hurt consumers and taxpayers, eliminate all taxes on unrealized gains on accrued interest that are not deductible for tax purposes today. The aggressive banks and credit cards companies have hurt consumers enough, don't take from them when they are already down and struggling. This just appears to be common sense in today's tax structure.

Wake up Uncle Sam!

peace

We have a Finanacial Crisis, not an Economic Crisis for now

Where will the public go for leadership in 2008? We have an important presidential election in 2008, as well as important local, state and federal races.

The fundamentals of the economy are strong. But, we clearly have a financial crisis.

We are clearly in difficult times.

But, economically, we do have positive indicators in the economy...

• Worker productivity
• Trade balance is moving favorably the right direction
• Unemployment

However, if we don't resolve the financial crisis properly, we will impact negatively our economy.

The Subprime mortgage financial crisis is a serious problem. We are in difficult times and the government is making important moves to protect our financial system.

Business ethics is alarming.

Lobbying and ethics in government continue to be out of control.

Our tax system has created a burden and has moved the Fortune 500 companies is the wrong direction.

Increasing in the size of the Federal Government is the wrong direction for this country to take. But, are we going to move towards socialism in the near future? The upcoming presidential election certainly is in play for our country to do so.

We need to wake up America. Who we elect at all levels of government do directly impact our lives. Look locally, the concerns we are facing right now. The impact is due to our own votes and those we have representing us today.

We voted to change our Form of Government in Cedar Rapids. We voted to elect the leadership we have at the local and state level. We elect our representatives who go to Washington DC to represent us. We do it at all levels, from school boards to legislative bodies.

The future of our governance is in our hands every two, four and six years. If there is a time in our history, when it is vital for the public to get to the polls, it is 2008.

A Limited Government is vital to the success of our democracy. Get informed and vote...

peace

Mr. Irrelevant endorses Mr. Obama for President

How relevant is an endorsement from a former congressman for a person running for President?

Once a person steps away from political office is there much relevancy in their political preference? Of course, in Mr. Leach's case he was voted out of office.

Former congressman Jim Leach (R-IA) has endorsed Mr. Barack Obama for President. It appears the Iraq war has garnered an endorsement from Mr. Leach for Mr. Obama.

Mr. Leach was well known for his legislative work on bank and finance during his 30 years of public service in Washington as a Iowa congressman. While his personal foreign policy interests appear to be fueling Mr. Leach's endorsement for Mr. Obama. It is interesting to question how relevant will Mr. Leach's endorsement be in Eastern Iowa?

How much does Mr. Leach want the US to resemble Europe in the future?

I supported Mr. Leach on many issues in the past. Though, I don't agree with his suggestion in the past that the USA should eliminate the use of the Electoral College. Of course, the last person I visited from Massachusetts on the issue strongly was in the Leach camp.

I visited with one long-time Leach supporter today. I was interested in his thoughts on Mr. Leach's endorsement, since I knew of his strong friendship over the years heading to Washington DC to visit Iowa's delegation, including Mr. Leach. He mentioned disappointment. He mentioned that Leach's strong bank and finance work was his strength, not his foreign policy.

Ironically, Jim Leach is on the board of Common Cause, a group that doesn't endorse candidates. November will soon be upon us.

peace