hopperbach


Call ’em out, Johnny

McCain finally lays the blame where it belongs:

WAUKESHA, Wisc. — John McCain may be going out of his way to praise Ted Kennedy at debates, but he is using another Massachusetts Democrat to draw boos.

In response to a question about whether McCain would investigate those responsible for the mortgage crisis, he pointed the finger at “willing co-conspirators” in Congress.

Congressman Barney Frank and Senator Chris Dodd are two of them,” McCain said, so riling the crowd by the mention of the first name that few probably heard the second.

Atta boy. Are we finally starting to see some fight in the man who shouted “Fight with me!” a month ago?  Time will tell but at least he got the perpetrators right this time.

Advertisements


Snoopy sales

Heads up all you eBay sellers and small business owners. Senator Chris Dodd wants to know what YOU are up to.

From FreedomWorks:

Washington, DC –  Hidden deep in Senator Christopher Dodd’s 630-page Senate housing legislation is a sweeping provision that affects the privacy and operation of nearly all of America’s small businesses. The provision, which was added by the bill’s managers without debate this week, would require the nation’s payment systems to track, aggregate, and report information on nearly every electronic transaction to the federal government.

FreedomWorks Chairman Dick Armey commented: “This is a provision with astonishing reach, and it was slipped into the bill just this week. Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover, and American Express, but the bill specifically targets payment systems like eBay’s PayPal, Amazon, and Google Checkout that are used by many small online businesses. The privacy implications for America’s small businesses are breathtaking.”

“Privacy groups like the Center for Democracy and Technology and small business organizations like the NFIB sharply criticized this idea when it first appeared earlier this year. What is the federal government’s purpose with this kind of detailed data? How will this database be secured, and who will have access? Many small proprietors use their Social Security number as their tax ID. How will their privacy be protected? What compliance costs will this impose on businesses? Why is Sen. Chris Dodd putting this provision in a housing bailout bill? The bill also includes the creation of a new national fingerprint registry for mortgage brokers.

Here is an excerpt from the Senate bill summary:

Payment Card and Third Party Network Information Reporting. The proposal requires information reporting on payment card and third party network transactions. Payment settlement entities, including merchant acquiring banks and third party settlement organizations, or third party payment facilitators acting on their behalf, will be required to report the annual gross amount of reportable transactions to the IRS and to the participating payee. Reportable transactions include any payment card transaction and any third party network transaction. Participating payees include persons who accept a payment card as payment and third party networks who accept payment from a third party settlement organization in settlement of transactions. A payment card means any card issued pursuant to an agreement or arrangement which provides for standards and mechanisms for settling the transactions. Use of an account number or other indicia associated with a payment card will be treated in the same manner as a payment card. A de minimis exception for transactions of $10,000 or less and 200 transactions or less applies to payments by third party settlement organizations. The proposal applies to returns for calendar years beginning after December 31, 2010. Back-up withholding provisions apply to amounts paid after December 31, 2011. This proposal is estimated to raise $9.802 billion over ten years.

It staggers the mind to ponder just how many freedoms are taken away from us every year by our illustrious Congress. An average of 300 bills are passed and signed into law during each Congressional term. For every provision like this that we catch, how many do we miss out of thousands of pages of legislation that go through every year?

Big Brother is watching, folks… time to start watching back.