Monthly Archives: November 2011

I am the 1% Video

Wayne Allyn Root turned his latest commentary “I am the 1%” into a video…after getting the most response…and the most positive response of his entire career.Watch Wayne’s Video: “I AM THE 1%” below:

I am the 1%


 

 

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

 

 

I am the 1%. I am a S.O.B. (son of a butcher). I started out with nothing. I was raised in a blue-collar dead end town on the Bronx borderline. Today I live the American Dream. My story is the story of the 1%.

 

The fake story meant to deceive you is that the 1% is Bill Gates, Donald Trump, Warren Buffett, Senator John Kerry, or Arianna Huffington. Gates was born to a family that owned the biggest bank in the Northwest. Trump was born to a billionaire father, the largest landlord in Brooklyn and Queens. Buffett’s father was a well-connected Congressman. Arianna Huffington and John Kerry married into fortunes. They aren’t the 1%. They’re the lucky sperm club.

 

99% of the 1% are just like me- small businessmen and women who started from humble origins and earned their money the old fashioned way. Our “overnight success” came from 25 years of hard work, risking everything, and overcoming failure. Many of us are struggling, but will forever keep striving for the American Dream.

 

I am sick of being denigrated and misrepresented by the media and leftist politicians who are purposely misleading the public about the 1%.

I am sick of Obama targeting, vilifying, demonizing, and punishing us for our success. I am sick of the class warfare, jealousy, and envy that Obama’s socialist cabal tries to foment among the masses. The public has been told lies about the 1%.

 

My story is the story of 99% of the 1%. I am a small businessman. I work 16-hour days, mornings, nights, weekends, holidays, birthdays, and anniversaries. I have no guaranteed job for life, nor any pension. I have no rich daddy or sugar daddy.

 

I don’t own a yacht. I have no private jet. I don’t have millions in an offshore trust. I don’t have one dollar offshore. Unfortunately, I don’t have $100 million here in America either. I am not connected, work like a dog, and fought like a cornered wolverine for everything I’ve ever achieved. No one has ever given me anything. I’ve earned it.

 

I don’t run a bank and have never been friends with a bank President. My buddies don’t run giant multi-national corporations. My friends don’t control the White House, Congress or the Fed. My friends are small business owners just like me. They are the 1%.

 

Along the way I’ve created many jobs, helping others live the American Dream too. I’ve made countless payrolls, and paid for other people’s health insurance. I’ve also failed countless times, wiping out my savings. But I never complained, blamed anyone but myself, and never asked for a bailout. Is this the story the media tells you about the 1%? Funny, I’ve never heard it.

 

My butcher father taught me to ask for nothing from government. I believe in self-reliance and personal responsibility. I’ve never collected a check from government in my life- other than a student loan. And I paid that back in full, with interest. I want and expect nothing from government. And in return, I just want government to get out of my way, and stop stealing (Obama calls it “redistributing”) so much of the money I’ve earned.

 

I became a self-made millionaire by the age of 30 by working grueling hours, being relentless, and risking my own money. My success was earned with blood, sweat, and tears. I’ve missed far too many cherished family moments with my four children. I rarely get a chance to watch TV. I live on a world-class golf course, but I’ve never played golf once in the ten years I’ve lived here. Should I be demonized and punished for my sacrifice and work ethic?

 

My butcher father taught me to out-work, out-smart, and out-hustle my competition. He taught me to study hard when others are partying. He taught me to stay away from drugs, and alcohol. He taught me that nothing good ever happens after Midnight. His dream was that I be accepted at Columbia University, where he wished he could have gone.

 

So I studied. I sacrificed. I got Straight A’s. I graduated Valedictorian of my high school. I was accepted at Columbia University (as was my sister). I earned Deans List honors. Should I now be punished for doing everything right, by others who chose to party when I was studying?

 

My butcher father was right. So I listened some more. He told me you had to risk your own money and start your own business to achieve the American Dream. So I became a risk-taking entrepreneur. After enduring several devastating failures, I became a business owner, television anchor and host, Las Vegas oddsmaker with my own star in the Las Vegas Walk of Stars, and eventually the 2008 Libertarian Vice Presidential nominee. As Don King says, “Only in America.

 

Is this the story of the 1% you hear in the media? Is this the narrative you hear from Obama?

 

I’m just one of millions of small business owners in the 1% who strive every day to achieve the American Dream through discipline, unmatched work ethic, sacrifice, and personal financial risk. Are you aware that the standard Small Business Administration loan is personally guaranteed? How many bank, automotive, or green energy executives personally guaranteed their government loans? Zero.

 

We have earned our success. Shouldn’t those who create jobs, pay the taxes that pay for the roads, schools, entitlements, and the bills of government be celebrated as heroes and role models? Last I checked you don’t demonize, denigrate or punish heroes, do you?

 

We are the true 1%.

 

 

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site: www.ROOTforAmerica.com

Message to GOP Super Committee: Embrace the Joy of Failure.


 

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

 

 

The Congressional “Super Committee” tasked with cutting the debt has failed. Good. Embrace the joy of failure. Sometimes failure works out for the best. Because in this case “failure” leads to the Holy Grail: $1.2 Trillion in forced spending cuts. That’s the best thing that could have ever come out of this unconstitutional “Super Committee.”

 

Congress is now forced to accept automatic across the board cuts to spending- including defense spending. This is what the GOP should have been aiming for from day one. Play out the clock and force $1.2 Trillion in spending cuts.

 

But our GOP friends never miss an opportunity to miss an opportunity. They are scared, spineless weaklings. They are actually panicking because there wasn’t a compromise that raised taxes. Could they possibly be this dumb?

 

The GOP had the perfect campaign message tailor-made for a 2012 landslide. “The GOP stands for smaller government, lower taxes, less spending. Obama is for bigger government, higher taxes, more spending.” The same simple clear contrast that led to a historic Tea Party landslide in 2010. All they had to do was play out the clock and let the spending cuts take effect.

 

Instead the GOP “super committee” members were so scared of actually forcing real, honest-to-goodness, spending cuts that they desperately tried all last week to compromise with Democrats. They practically begged Democrats to increase taxes on the wealthy (by taking away deductions). The GOP was anxious to sell out every small business owner, homeowner, and GOP contributor in America. Listen carefully- it was the GOP who offered a deal based on Obama’s philosophy to punish successful Americans for their hard work, sacrifice, and financial risk-taking.

 

Republicans offered a deal to Democrats that included only slightly larger spending cuts versus tax increases. And guess where all the tax increases were aimed- at wealthy taxpayers. Even as GOP Presidential contenders lied to our faces during televised debates, all agreeing they would not even accept a deal of 10-to-1 spending cuts versus tax increases, the GOP Super Committee members attempted to sell out the entire conservative base for close to 1-to-1.

 

That is the reason I left the GOP during the Bush reign. Republicans talk a good Tea Party game about smaller government, tax cuts and spending cuts. But as far as actually carrying it out? Not so much.  No sooner than the super committee fell apart, the GOP was screaming from the highest rooftops that they will block the automatic defense cuts. They have obviously received too many calls from defense contractor contributors.

 

This could be one of the most self-destructive game plans in political history. First, we need across-the-board spending cuts to save America from a fate like Greece or Italy. There is no way to cut the debt and avert an economic tragedy without cutting from every department of government- including defense.

 

Second, these “automatic spending cuts” aren’t really even cuts. Not a dollar of today’s defense spending will be cut. Not one General or Admiral will lose their job. All that’s being cut is future increases in defense spending. If we can’t agree on that, America is doomed.

 

Third, U.S. voters are looking for someone to show they have courage. If the GOP won’t cut one dollar of future increases in defense spending, despite the pending insolvency of America, than how can we ever shame the Democrats into cutting domestic spending Social Security, Medicare, or Medicaid?

 

Lastly, how could the GOP be so ignorant of history? By compromising on taxes to get spending cuts, they would be cutting their own throats. Ask Ronald Reagan and George H.W. Bush. Both were lied to and fooled by Democrats who promised future spending cuts in return for tax increases, but never delivered. Worse, Reagan and Bush were forever more called “tax raisers” by Democrats. No conservative can ever win by raising taxes, stupid.

 

Are Republicans really that tone deaf? Don’t they  realize the key to winning next November is to stand firm against any tax increases? Don’t they realize the “enthusiasm gap” in favor of Republicans is now as large as the Grand Canyon? All because of the Tea Party and the excitement of conservative anti-tax activists.

 

If the GOP members of the Super Committee had voted for not only “revenue increases”…but increases designed as punishment for wealthy taxpayers, the enthusiasm gap simply vanishes. By limiting the deductions of upper income taxpayers, you are raising taxes and punishing your own supporters and contributors- exactly what Obama wants you to do. Divide, demoralize, and conquer.

 

Has anyone in the GOP noticed what is happening in Europe? Greece and Italy are insolvent. Yet they have among the highest tax rates in the world. Higher taxes don’t save the economy. High taxes don’t lower debt. High taxes have destroyed the European economy. We need spending cuts, not “revenue increases.”

 

Here’s my message- from a Tea Party American and small business job creator. Embrace the failure of the unconstitutional super committee. Accept the automatic across the board spending cuts as a Christmas gift from the heavens. Stop considering compromises over taxes with Obama. If you accept the notion that the rich should be punished, stop calling Obama a socialist…because you’re no better than Obama. With friends like that, who needs enemies?

 

Compromising with Obama to wreck the finances of your own supporters is only going to kill the enthusiasm of your own base, and get you defeated just like George H.W. Bush.

 

One last message to the GOP- Grow a spine.

 

 

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site: www.ROOTforAmerica.com

Jon Corzine Scandal Exposes Liberal Ponzi Scheme

 

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

 

 

We’re all in trouble when the joke is on our most connected politicians. Jon Corzine is the former CEO of Wall Street powerhouse Goldman Sachs. Even God shudders when the CEO of Goldman walks in the room (or so Goldman executives think). Corzine left Goldman with a half billion-dollar fortune and became a United States Senator. Soon he was a Governor of New Jersey. His friends are the most powerful people on Wall Street and in Washington D.C. Only months ago he was a strong bet to be appointed to a major position in the Obama administration. He is the type of guy the media calls “the smartest guy in the room.”

 

But obviously brains and connections aren’t enough to prevent a bankruptcy. Corzine just presided over one of the biggest disasters in Wall Street history. Corzine just resigned as Chairman and CEO of MF Global, one of the most powerful Wall Street bond and futures trading firms. MF Global just filed for bankruptcy. Billions have been lost, hundreds of millions are missing, over 1700 employees just received pink slips, and Corzine has hired a criminal defense lawyer.

 

Corzine, for all his brains and connections, didn’t get the joke. God blessed Jon Corzine with everything- except common sense. He is emblematic of why our economy is collapsing. The joke is on the brightest guys in the room.

 

These liberal Ivy League “masters of the universe” are actually delusional. For all their smarts, many of them can’t see the blinking red danger signal right in front of them. They think government spending is the way to get out of a debt crisis. They think government creates jobs. They think government can protect us all from cradle to grave. They think $100 trillion in debt and unfunded liabilities is no big deal. They obviously think ponzi schemes last forever.

 

Leftist politicians like Corzine live in a delusional dream world where money grows on trees and pigs can fly. The Corzine scandal proves that their views are a danger to all of us. Jon Corzine is the poster boy for how our entire country has been led down the road towards insolvency and bankruptcy.

 

MF Global was destroyed because Corzine decided to invest billions in European sovereign debt. Oh my gosh. You cannot be serious? I’m just a small businessman and home-school dad, but I’ve been publicly warning for 3 years now that the EU is facing financial disaster. Even I knew that Greece, Italy, Spain, Portugal, Belgium and Ireland were completely insolvent (with France and UK are not far behind). The entire European economic system is crumbling under the weight of massive debt and socialist entitlement programs. It’s pretty simple, if you have common sense- you can’t give everyone a government job, promising early retirement, huge pensions, and free healthcare for the rest of their lives. Eventually if you give everyone a huge pension for 30 (or more) years of not working, your economy collapses under the debt. Eventually if you punish the rich for their hard work, discipline and financial risk-taking, the job creators and taxpayers will revolt and leave. That leaves you with gigantic bills, but not enough bill payers.

 

Anyone could see that. Anyone except leftist, politically-correct politicians like Jon Corzine. Silly me- I actually thought that deep down the Obama’s, Pelosi’s and Corzine’s knew that what they are peddling was a toxic ponzi scheme. I actually thought the connected smart guys were in on the joke. I thought they understood that robbing Peter to pay Paul is a successful campaign strategy…it buys the votes to get you elected…but it eventually bankrupts the country. I actually thought they understood deep down that you can’t solve a dept crisis with more debt. That you can’t solve a sinking dollar crisis by printing more fake money. That if you target, blame, demonize, and tax the rich for everything, you eventually run out of rich people. I was wrong.

 

The Corzine scandal proves the leftists running our country actually believe their own lies. They are blind, deaf, and really, really dumb. Corzine the politician made big bets on debt. He spent New Jersey into insolvency- with among the highest debt, unsustainable future pension obligations, and property taxes in America. He did all that to bribe the typical Democrat voter and get elected. But I never imagined he actually believed in debt as a good investment.

 

Like Obama, Corzine obviously talked himself into believing that a ponzi scheme can go on forever. He actually thought he could invest profitably in the toxic debt of EU countries. He didn’t know that Greece and Italy are walking corpses? Billions of investor dollars were lost, and a giant global Wall Street powerhouse was destroyed because the ultimate Wall Street insider was the only guy who didn’t get the joke. A debt crisis cannot be solved with more spending. And a ponzi scheme does not last forever.

 

The Corzine saga proves politicians on the left are delusional. They cannot be trusted with taxpayer money. They are perpetrating the biggest ponzi scheme in world history with U.S. taxpayer’s money. It’s a deadly game. And as Corzine’s investors and partners at MF Global found out, it will blow up and destroy us all.

 

The moral to the story? Corzine ran MF Global the exact same way he ran New Jersey. The exact same way Obama is running the country. Eventually it will all end the exact same way.

 

 

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site:www.ROOTforAmerica.com.

What the Joe Paterno Scandal Proves About America

 


 

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

 

As I write this commentary, Joe Paterno has been fired as Penn State football coach — effective immediately. Thousands of Penn State college students are in the streets, angry, sad, disillusioned, emotionally wrecked, overturning cars, and chanting Joe Paterno’s name. The riot police are in place to prevent the situation from getting out of hand. Those aren’t hoodlums with no hope and no future. They are educated, middle class, salt-of-the-earth Pennsylvania college kids attending a well-respected university. What is wrong with this picture? What does it say about America?

 

Let’s start with the obvious. Why aren’t those educated college kids out protesting on behalf of the little boys who were allegedly sexually assaulted by a longtime Penn State assistant coach? Has America so lost its compass? These kids are in love with a coach because…he’s a celebrity? Because he wins football games? Because he wins football games all else is forgiven? If someone is a celebrity, nothing else matters? We are lucky this isn’t Kim Kardashian or Paris Hilton involved in child rape. We’d almost certainly witness mobs burn Los Angeles to the ground to show their support for their favorite celeb-turned-child-rapist. A sad commentary on all that is wrong with America.

 

Then there’s the actual conduct of Coach Joe Paterno. Here is a good moral man who has spent a lifetime molding the lives of young men at Penn State. Yet back in 2002 he heard from a graduate assistant that his longtime assistant coach was having sex in the shower with a 10 year old boy. Paterno reported the incident to his superiors, then never mentioned it again? How strange is that? He never thought to protect the 10-year old boy? Never thought the boy’s life (or certainly mental state) might be in danger? Never thought to find out who the boy was and talk to him? Never thought that stopping this sexual deviant might possibly save other boys? Never thought to confront his friend of 30 years and ask him what happened? Never thought to follow up with his superiors to ask about the young boys? Never even considered going to the police?

 

How could this happen in my America? Is everyone truly mad? Is winning football games more important than a 10-year old boy’s safety? How about dozens of innocent little boys? Is protecting a respected institution more important than stopping a child rapist? Why would educated responsible administrators with 6-figure and 7-figure salaries make the same decision to cover-up a heinous crime as priests and bishops and cardinals for the Catholic Church? Did they not consider “what if that was my little boy in the shower with that 60-year-old pervert?” Or is the reputation of Penn State worth more than a little boy’s innocence? How about a little boy’s life? Did anyone consider that those boys might someday commit suicide from the shame of what was done to them? Is the world really that selfish, thoughtless, and uncaring?

 

Keep in mind a key fact as we all judge Joe Paterno. The coach/pervert/rapist in question had an office in the Penn State football complex since his retirement in 1999. This incident took place in 2002. So Coach Paterno was told a man with an office in his building was using the football locker room to sexually assault little boys. And for the next 10 years he let the rapist/pervert keep his office in the building? For the next 10 years he let the man continue to conduct business in his office down the hall? He walked by his friend’s office and never thought to confront him about the incident? He walked by that office and never thought about the little boys? He walked by that office and never once thought to follow up with his superiors?

 

And the students of Penn State think this is a role model? A God? They want to waste their precious time protesting, chanting Paterno’s name, rioting, and destroying property in the name of a man who never thought to protect little boys being abused, molested and raped in his football facility? There is something very wrong, something very rancid in America in 2011.

 

By the way, would anyone be protesting, crying, chanting, or rioting in the name of a losing football coach? So this is about winning. If you win football games, anything goes? Even the cover-up of child rape is okay? These student protestors are educated, salt-of-the-earth, middle class Pennsylvania kids with the values of a prison chain gang. They learned their values and morals where exactly? MTV? Beavis & Butthead? The Kardashians? Watching Internet porn? It’s all frightening and a sign of the rapid decline of America.

 

Lastly, I’m betting none of those kids either knows of, or cares, about the important news of the day — Italy joining Greece on the verge of complete economic Armageddon. Or how about the impending collapse of the entire European Union due to perhaps the worst financial crisis in world history. All of which caused an almost 400 point drop on Wall Street. Some believe we now face the very real prospect of a Great Depression II, food lines, tent cities, and a crisis no college student alive today has ever imagined. Their future upon graduation from Penn State may have just taken a turn from dismal to bleak.

 

But hey…why should that matter? Those students have more important things to worry about: Penn State has a football game against Nebraska on Saturday. This is the bread-and-circus generation that expects government to take care of them from cradle to grave. Now we all understand why.

 

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site:www.ROOTforAmerica.com.

Please read Wayne Root’s lead commentary in Tuesday’s Washington Times

“George Constanza for President”

Click HERE to read the article.

A Small Businessman Answers “Why is America Broke?”

A Small Businessman Answers “Why is America Broke?”

 

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

 

Any small businessman with street smarts and common sense can tell you why America is broke, and why there are no new jobs. He’ll tell you that unlike government that spends money it doesn’t have, a small business can only spend what it has. He’ll tell you small business hires only those it needs and pays them only what they are worth, while government hires far more employees than it needs and pays them far more than they are worth. And, get ready for the grand finale- no small business would ever pay workers for 30 years of not working.

 

This is why the U.S. economy is in crisis. This is why Apple Computer has more money in the bank than the United States government. This is why there are no jobs. This is why we are suffering the Obama Great Depression.

 

It’s simple. When you own a small business you pay your employees only what they are worth, you pay them only if they show up for work, and you don’t pay a pension and free healthcare for life. Pensions, free healthcare, and “fair wages” are wonderful ideas in the fantasy world of naïve liberal do-gooders who have never run a business, made a payroll, or paid anyone else’s health insurance. In the real world it just doesn’t work. Forget “fair wage.” Salaries, pensions and benefits paid by government are an “Insane Wage.” They are unsustainable. And they are destroying our economy.

 

Firemen in Las Vegas average just under $200,000 per year. Lifeguards in Southern California make $100,000. Port Authority policemen in New York, employees of the BART train system in San Francisco, and the average federal employee earns about $100,000. Many California education administrators are earning $200,000 salaries.

 

Then, to make it much worse, taxpayers owe these amounts for life, as pensions, for not working. It’s obscene and suicidal. Think about it- there are 21 million U.S. government employees.

 

Just like Greece, which is hopelessly bankrupt and threatening to bring down the entire European Union, our own U.S. government employees want to retire at age 45 and start collecting $100,000+ a year for not working…for life. They also expect free healthcare…for life. All of this for secure jobs with easy hours, weekends off, lots of sick and vacation time, automatic pay increases, all with no financial risk or investment required, and no measurement of performance.

 

No small businessperson could even imagine paying $50,000 per year for 10 employees, while also paying $50,000 per year for 20 retired employees at the same time. They couldn’t survive. And, if the government required every business do it, no consumer could afford the cost of a restaurant meal, dry cleaning, gas, or a slice of pizza.

 

GM and Chrysler went bankrupt because of this exact model. It’s no problem for the first 20 years. Then your employees start to retire and the bill comes due. Now you have to pay for both the new employee’s salary, and the old employee’s pension, plus free healthcare. This is what is at the root of the bankruptcy and insolvency of the PIIGS- Portugal, Italy, Ireland, Greece, Spain…and soon the rest of Europe. This pension nightmare is on the verge of toppling governments across the globe, just as it eventually toppled GM and Chrysler.

 

It’s time public employees pay for their own retirement- just like everyone in the private sector. I have no pension. I have no free healthcare for life. My responsibility is to save enough from my income to fund my own retirement. Public employees should also be responsible for their own retirements. It’s as simple as changing from a defined benefit plan to a defined contribution plan- just like corporate America.

 

What keeps this government employee union racket afloat?  Of course it’s the taxes paid by small business owners and private sector taxpayers who have no pensions of their own. They work for us, yet they receive benefits we can only dream of. They retire on $100,000 per year pensions, while we slave away until the day we die, to pay all the taxes required to cover their obscene pensions.

 

That brings us to the question on everyone’s minds- “Why are there are no new jobs?” While Obama believes that government spending and government jobs are the answer, in reality, every new government job is a burden on taxpayers. A government job isn’t an addition to the economy…it’s a subtraction. It’s a new expense. When Obama creates new government jobs, he’s just created a massive new obligation for taxpayers. Not just an expense for this year, but an expense for 50 or more years (until the day each government employee dies). In some cases, it’s even worse. When a government employee dies, their bloated pension is paid to the surviving spouse until they die.

 

So Obama isn’t helping us by creating government jobs. He’s killing us. For every new government job he’s putting taxpayers on the hook for $100,000 a year for the next 20 to 30 years, plus $100,000 a year for 30 or more years after they retire, plus free healthcare for life. Every new government employee is a negative drain upon the American economy. For every government job created, the taxes necessary to pay for it kill multiple private sector jobs.

 

Why is America broke? It’s the bloated number of government employees. It’s their obscene wages (salaries 40% to 70% above the private sector) and their insane pensions that are destroying the U.S. economy and creating a lifetime of unsustainable debt for future generations. That’s why the private sector is on life support. That’s why there are no jobs. And that’s why there aren’t going to be any, anytime soon.

 

 

 

Wayne Allyn Root is a former Libertarian vice presidential nominee. He now serves as Chairman of the Libertarian National Congressional Committee. He is the best-selling author of “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & Tax Cuts.” His web site: www.ROOTforAmerica.com