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Shear Nonsense

by Knight Allen, NSC Director of Legislation
Published on  November 08, 2012 - reprinted with permission

     This is kind of an odd month for writing my Foghorn column. I'd love to spend it writing about the Election and its ramifications but the vote is Tuesday and the meeting is Thursday. Maybe that's a good thing. Let the dust settle a little and see if the sun continues to rise in the east, move across the sky and set in the west. If you get too caught up on the electioneering madness you might just start to wonder if the world will survive. Of course we all know it will. We've been through this many times and watched countless numbers of candidates and elected officials come and go and despite their best efforts to play the role of Good Shepherd, it always comes down to the People; the workers, entrepreneurs and savers to carry the burdens and shoulder the responsibility to move the nation to a better place. I don't think the Good Shepherd system is very good. That might be because, when you get right down to it, the Shepherd cares for his flock out of self interest. The sheep are his source of wealth and status and in the long run they wind up shorn.

      Along those lines, here are some numbers from the Washington Post "Capitol Assets" series about the wealth of the "Good Shepherds" in the United States Congress vs. the "Flock" (the general US population).

      Net Worth: Democrats $862,508 Republicans $881,786* *Numbers come from financial disclosure forms and public records.

The Federal Reserve reports that between 2007 and 2010 the average American family net worth dropped from $126,400 to $77,300 (39%).

Meanwhile the net worth of the 535 Members of Congress rose 5%. That may not be great but it beats the heck out of a 39% loss, doesn't it?

      Of course, these folks own a lot of stock. Their top 10 holdings are: American Telephone, Bank of America, Cisco Systems, General Electric, Intel, Johnson and Johnson, and Verizon Communications.

      What? No Solyndra? No A123? No investments in the great new industry that represents America's green future? It would seem the Shepherds (and their financial advisors) are not willing to put substantial amounts of their own money at risk but they sure don't mind "investing" the flock's (our) money into this green nonsense, do they?

      Another bit of info: At least 75 Members have sponsored or co-sponsored legislation that could benefit businesses or industries in which they or their families had interests.

      As you may have seen, I was asked by the RJ to write the "NO" on Question 1 column on Sunday 10/14/12. I offered my position to you in the last Foghorn but the RJ gave me the chance to go through it point by point and present it to a much larger audience. It was fun and I appreciated the opportunity.

  Knight can be reached at:  knightallen702@yahoo.com

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