States' Votes Will Define Them

Monday, 05 Nov 2012 02:56 PM

By Lowell Ponte

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On Tuesday voters in a handful of "battleground" states will determine who wins and who loses in the race to define America's future direction.

Voters there need to understand that their state will also win or lose future investment and jobs based on how they vote.
 
Particularly in what political consultant Mike Murphy calls the "metal-bending states" of the union-influenced rust belt — Pennsylvania, West Virginia, Ohio, Michigan, Indiana, Illinois, and Wisconsin — would-be investors will carefully analyze how voters in each state cast their ballots.
 
This is a "tipping point" election in American history.
 
The reason is that one of America's two ruling political parties has metamorphosed into a European-style social democratic party of the left.
 
Democratic President Barack Obama has made no secret of his desire to impose much heavier taxes and regulations on business, and to expand the welfare state.
 
As the U.S. Census Bureau documented, 49.1 percent of American households now have someone living there who receives a government benefit.
 
We are on the brink of being a "50-50 nation, half of us paying the taxes, the other half receiving the benefits," writes Harvard economic historian Niall Ferguson.
 
The 2012 election could permanently tip that balance in favor of America's big government party. If President Obama wins four more years as America's chief executive, he will almost certainly increase the proportion of American households receiving government benefits by enough to create a voting majority.
 
Thereafter, future elections could soon descend into mere bidding contests won by those who promise the fattest government benefits to the most people.
 
As Craig Smith and I write in our new book, "The Great Debasement: The 100-Year Dying of the Dollar and How to Get America's Money Back," the U.S. economy is already losing at least 25 percent of the jobs and prosperity it could have because of what we call "donkey drag."
 
Donkey Drag is the fear that business people now have to invest and hire because America's anti-business party could gain power in every election. This greatly increases uncertainty, risk, and reluctance for investors.
 
Consider a few of this election's key states as an investor might see them.
 
Wisconsin's city of Ripon was a birthplace of the Republican Party, yet this heartland state during the 1920s embraced the hostile-to-business progressivism of Republican Senator Bob LaFollette.

Wisconsin voters recently turned back a nationally funded push by organized labor to recall a Republican governor who limited the lavish pay and benefits of unionized government employees. If Wisconsin votes for President Obama, investors will fear that these unions have won, and that Wisconsin is now too hazardous a place to invest.
 
Illinois' Chicago political machine anointed Mr. Obama a U.S. senator. This state's ruling liberals have driven it so deep into debt that, like California, they need President Obama to bail Illinois (and California) out via federal redistribution of the savings of more prudent states' taxpayers.

Republican candidate Mitt Romney was born in Michigan, where his father ran American Motors and was governor. If the Wolverine State votes against its native son and re-elects President Obama, who expropriated General Motors and Chrysler as if America were a banana republic, Michigan can forget about other companies moving there for a long time.

Indiana is a bedrock state with a long history of electing centrist Democrats and moderate Republicans. Can it even come close to voting for a president whose economic policies have failed, and who, after promising to be centrist, instead has governed imperiously from the left?

Unemployment in Ohio is below the national average, thanks to Republican Governor John Kasich's skill in attracting businesses. President Obama rushed to take credit for this improvement, seen only in states with Republican, not Democratic, governors.

President Obama's Environmental Protection Agency (EPA) has reportedly already drawn up plans to nearly shut down the coal industry in Pennsylvania and West Virginia the moment the election is over.
 
God help any of these states that help re-elect President Obama. By their own anti-business class warfare votes, they will turn themselves into losers where no sane private company is likely to invest or create new jobs for the next 20 years or more.

Lowell Ponte is co-author, with Craig R. Smith, of "Crashing the Dollar: How to Survive a Global Currency Collapse"; "The Inflation Deception: Six Ways Government Tricks Us . . . And Seven Ways to Stop It"; and "Re-Making Money: Ways to Restore America's Optimistic Golden Age." For a limited time, you can get a free postpaid copy of his new book "The Great Debasement: The 100-Year Dying of the Dollar and How to Get America's Money Back" by calling 800-630-1494. Read more reports from Lowell Ponte — Click Here Now.
 




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