Monthly Archives: December 2010

Economy, Politics

Kill The So-Called Tax Cut Bill

I find myself in agreement with the wacko Left on killing this bill now. Although for different reasons. Problem with the House version was that the unemployment extensions were not paid for when they could easily have been. That, and they want to tax the dead again. And then there’s the myth that keeping the tax rates the same are going to be a stimulus and create millions of jobs, is pure fantasy. Well, if Obama actually believes that it will, then it is pure fantasy. But I don’t think he believes that it will. Which makes it a lie. No different than the lie that Obamacare was not going to increase the debt, and was going to lower premiums, increase care and coverage, can keep your doctor. All that.

The benefits from ‘the Bush tax cuts’ have come and gone. It took a couple of years for those tax cuts to pay off. They’ve run their course and we’ve spent our way into a recession, and then some. We haven’t gotten trillions into debt by not taxing enough. I’m pretty sure it’s because we’ve spent and borrowed too much.

Now that Harry Reid has the bill, he has made it worse by adding another $55 billion of pork to it. Notice a trend here? If you’re having trouble passing a bill (like with Obamacare), just keep adding pork to it to bribe the votes you need. Where’s that change that Obama campaigned on? From here it looks like more of the same, on steroids.

The best we could do now is to let this bill fall on its face and let the next congress pass one with no pork in it. Making the current rates permanent, if not lower, will help to stop the FUD factor which now is more of a hinderance to growth and investment than the current tax rate itself. Raising taxes anywhere, and especially on those who we expect the growth to come from, will absolutely guarantee that the economy won’t be turning around anytime soon.

Link: Add-ons turn tax cut bill into ‘Christmas tree’

Economy, Media, Politics

Obama’s Tax Package Challenges Media

This is just so rich in Obama-speak that I don’t know where to start. Let’s start with that, for the last 10 years, Democrats, including President Obama, have been harping on George Bush and the ‘Bush tax cuts,’ which are to expire at the end of this month. They accused Bush of ‘lining the pockets of the rich on the backs of the poor.’ That’s their class warfare game. Nothing new with that. And for the last year running up to the mid-term election, Obama has said repeatedly that he and the Democrat majority we’re ‘looking forward.’ We’re not going back to ‘the failed policies of the past.’ You with me so far?

Not sure if the President is living in Fantasy Land, or if he thinks the American people are, but President Obama just said the tax-cut deal he negotiated with Republicans will determine whether the nation’s economy ‘moves forward or backward.’

Obama is only giving the appearance that he understands that raising taxes during a recession is counterproductive to growing the economy and creating jobs. And that cutting taxes are actually stimulative to economic and job growth. Trust me on this, he is not capable of that level of economic understanding. He understands two things, he needs to get re-elected in two years, and he wants you to think that he now ‘gets it.’ Improving the economy is not what he wants. If it was, he would not have spent two years of over-reaching into redistributing, spending, and borrowing other people’s money.

This President would like us to believe that his extending of the current tax rates are tax cuts, when they are not. They are a continuation of the current tax rates, instead of tax increases when they expire. He also wants us to believe that he is doing this in order to move the economy forward. Further, he says it has the potential to create millions of jobs. He also said if it fails, Americans would see smaller paychecks and it would result in fewer jobs. Still with me?

Keeping the current tax rates on a temporary basis just maintains the FUD factor and kicks any economic recovery further on down the road. It won’t create an investment climate, especially when the only job category that is showing signs of an increase is in the government sector, adding to our overhead. The fact is, under the current tax system, we have lost millions of jobs since President Obama took office two years ago. And now, he wants you to believe that this same tax system has the potential to create millions of jobs. What he is doing is setting us up for failure.

Why would the President want to set us up for failure you ask? So in two years time, when he wants to be re-elected, he can say ‘hey, I tried it their way and it doesn’t work.’ Our community organizer President cares more about political expediency than the welfare of our economy and the American people.

The challenge for the legacy media is this, how can we now support the President on what we have demagogued for the last ten years?

Link: Obama: Tax deal could yield ‘millions of jobs’

Politics, War On Terror

WikiLeaks Vindicates Bush, What?

The WikiLeaks de facto declassification of privileged material makes it case closed: Saddam Hussein possessed weapons of mass destruction — and intended to restart his program once the heat was off.

President George W. Bush, in the 2003 State of the Union address, uttered the infamous “16 words”: “The British government has learned that Saddam Hussein recently sought significant quantities of uranium from Africa.”

Former Ambassador Joe Wilson sprang into action and, in an op-ed piece, in effect wrote, “No, the Cheney administration sent me to investigate the allegation — and I found it without merit.”

I never doubted for a moment what Saddam Hussein’s intentions were, or that he did exactly what Bush and the British government said he did. And I credit Ted Kennedy (D-MA) for being the first to politicize the war effort. And, the rest is history.

Link: The WikiLeaks Vindication of George W. Bush – Larry Elder – Townhall Conservative.

Politics, Race Relations

Just Racists And Haters

There is a lot of anger toward President Obama, this time from Democrats and the far Left Progressives. They vehemently disagree with his posture over not increasing taxes on ‘the rich.’ Well, if what was said about Republicans’ anger at Obama’s policies is any indication, isn’t it now obvious? These Democrats are all racists. They’re just objecting and are angry at him because he is black. Oh, and they’re haters too!

related link: Is Jimmy Carter Right?

Uncategorized

Attack On Pearl Harbor, Dec. 7, 1941

“A Date Which Will Live in Infamy”: FDR Asks for a Declaration of War

The Japanese attack on Pearl Harbor, Hawaii, on December 7, 1941, stunned virtually everyone in the United States military. Japan’s carrier-launched bombers found Pearl Harbor totally unprepared. President Franklin Roosevelt quickly addressed Congress to ask for a declaration of war as illustrated in this audio excerpt. Although he never mentioned Europe or the fact that Germany had by then declared war on the United States, the Pearl Harbor attack allowed him to begin the larger intervention in the European war he had long wanted.

President Franklin D. Roosevelt: Yesterday, December 7, 1941—a date which will live in infamy—the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.

The United States was at peace with that nation, and, at the solicitation of Japan, was still in conversation with its government and its emperor looking toward the maintenance of peace in the Pacific. Indeed, one hour after Japanese air squadrons had commenced bombing in the American island of Oahu, the Japanese ambassador to the United States and his colleague delivered to our secretary of state a formal reply to a recent American message. While this reply stated that it seemed useless to continue the existing diplomatic negotiations, it contained no threat or hint of war or armed attack.

It will be recorded that the distance of Hawaii from Japan makes it obvious that the attack was deliberately planned many days or even weeks ago. During the intervening time the Japanese government has deliberately sought to deceive the United States by false statements and expressions of hope for continued peace.

The attack yesterday on the Hawaiian Islands has caused severe damage to American naval and military forces. I regret to tell you that very many American lives have been lost. In addition, American ships have been reported torpedoed on the high seas between San Francisco and Honolulu.

Yesterday the Japanese government also launched as attack against Malaya.

Last night Japanese forces attacked Hong Kong.

Last night Japanese forces attacked Guam.

Last night Japanese forces attacked the Philippine Islands.

Last night Japanese forces attacked Wake Island.

And this morning the Japanese attacked Midway Island.

Japan has, therefore, undertaken a surprise offensive extending throughout the Pacific area. The facts of yesterday and today speak for themselves. The people of the United States have already formed their opinions and well understand the implications to the very life and safety of our nation.

As commander in chief of the Army and Navy I have directed that all measures be taken for our defense. But always will our whole nation remember the character of the onslaught against us. . .

Links:

Link to audio file. | Naval History and Heritage Command

Energy, Politics

Arctic National Wildlife Refuge Turns 50

After checking out The White House blog’s piece about ANWR’s 50th anniversary, I couldn’t help but notice the beautiful picture they put up at the boundary of the coastal plain.

So it seems  it is time to resurrect my ANWR Refuge 101 post again. Just so you won’t be mis-informed on the subject of oil exploration in ANWR and exactly where it would occur.

Picture from The White House Blog:

Caribou in the Arctic Refuge coastal plain, with the Brooks Range mountains in the background to the south. (by U.S. Fish and Wildlife Service)


This is the coastal plain, the place designated for oil exploration. ANWR Coastal Plain

And this is the coastal plain in the spring.

Coastal Plain in ANWR

Link: Arctic National Wildlife Refuge Turns 50 | The White House.

Uncategorized

What Happens When ‘The Bush Tax Cuts’ Expire?

Income taxes punish work, stifle innovation (except in ways to avoid a tax liability) and risk-taking. Coming to a network news outlet near you, in addition to all the racial stirrings provoked by the ‘post-racial’ Obama administration, prepare yourself for the next chapter in the Obama administration’s (aka Saul Alinsky) handbook; class envy/warfare.

It comes around in election seasons, which seem to never end nowadays. And it comes around whenever tax reform is discussed in the form of ‘tax cuts for the rich.’

Barring any intervening legislation, these are the numbers by income tax bracket of how the tax rates will change when ‘the Bush tax cuts’ expire.

• Up to $16,750: Rises from 10 percent to 15 percent
• From $16,751 to $58,200: Stays same at 15 percent, but entire bracket pays 5 percent additional on the first $16,750
• From $58,201 to $68,000: Rises from 15 percent to 28 percent
• From $68,001 to $137,300: Rises from 25 percent to 28 percent
• From $137,301 to $209,250: Rises from 28 percent to 31 percent
• From $209,251 to $373,650: Rises from 33 percent to 36 percent
• $373,651 and up: Rises from 35 percent to 39.6 percent

The spreadsheet below shows how much more of your income (not counting all the income credits and re-distribution schemes contained in the 75,000+ page Internal Revenue Code) you will owe Uncle Sam on every dollar you earn beginning January 1, 2011. Note the gimmick in the second tax bracket, where the poor and not as poor ‘working people’ reside. You know, the one class that Obama claims to advocate for. These brackets capture the majority of the income earning population. The tax rate remains the same, but the entire bracket pays 5 percent additional on the first $16,750. The consequence of this magic trick is putting the largest tax burden, as a percentage of income, square on the backs of the poor. The rate of increase on the next bracket, those whose income falls between $58,201 and $68,000, goes up by a massive 86.67 percent. The so-called ‘working people.’ I add ‘so-called’ to the discussion because this administration would like the dumb masses to believe that rich people don’t work. ‘Working people’ is class envy for the poor aimed at the rich, by the ‘uniter’ himself. It is a necessary function of class envy, which this administration so effortlessly employs. And so far gets away with.

From $ To $ From % To % $ Increase % Increase Increase as % of Income
$0 $16,750 10.00% 15.00% $838 50.00% 5.00%
$16,751 $58,200 15.00% 15.00% $9,568 0.00% 16.44%
$58,201 $68,000 15.00% 28.00% $8,840 86.67% 13.00%
$68,001 $137,300 25.00% 28.00% $4,119 12.00% 3.00%
$137,301 $209,250 28.00% 31.00% $6,278 10.71% 3.00%
$209,251 $373,650 33.00% 36.00% $11,210 9.09% 3.00%
$373,651 $500,000 35.00% 39.60% $23,000 13.14% 4.60%
Obama’s Tax based on his 2009 income. $5,505,409 35.00% 39.60% $253,249 13.14% 4.60%

Don’t be fooled by the tax brackets or these numbers either. They give the illusion that everybody is actually paying taxes. Everyone is not paying taxes. The truth is, for 2005, the top 1% of income earners paid 39% of all tax revenue. That’s up 2% since President Bush took office in 2000. 86% of all federal income taxes were paid by the top 25% of income earners. And 97% of all taxes paid are paid by the top 50% of income earners.

The power to use the ‘tax hammer’ to micro-manage voting, social and economic behavior is the drug the politicians must be weaned from. The FairTax takes that tax hammer away by putting the economic power where it belongs, with the people. All the people. Not Washington politicians and lobbyists. Because the FairTax is transparent, the FUD factor goes away. The Fear, Uncertainty, and Doubt goes away, and citizens and entrepreneurs can make business decisions with some certainty of risk and tax consequences.

The FairTax unleashes the potential for economic activity, innovation, job creation, personal wealth and financial security without the interference of Washington and without increasing the national debt. And as a not insignificant side effect, the class warfare game with taxation becomes a thing of the past. Allowing the elected officials to concentrate their efforts to serving their constituents instead of trying to rob them.

Note: Due to popular demand and the current political climate, the above is a re-posting from a July 26,2010 post.

Economy, Media, Politics

Will An Articulate Republican Please Stand Up?

That class warfare and wealth envy play very well from the Left’s playbook is no surprise. Especially to the dumb masses. From Obama on down, and with the help of the media to carry the water for them, ‘tax cuts for the rich’ seem to be the mantra. Well, that and Republicans don’t want to extend unemployment benefits, yet they want tax cuts for the rich. And at Christmas time no less. Grinch!

There are two truths that blow the Left’s demagoguery out of the water, that the media has no interest in exposing. First, regarding extending unemployment. Regardless of what Nancy Pelosi (D-Ca) says, Republicans have no objection to extending unemployment. After all, it would be a spending bill. And, like all spending bills, must be paid for. That’s according to Nancy Pelosi and her party’s PayGo legislation. The concept of PayGo was to not increase the debt. So pay for it already. Pay for it by cutting some other spending from somewhere else, or better yet, pay for it from the hundreds of billions of dollars that are still unspent from the porkulus bill. Pay for it. As a matter of fact, why not throw in an extra $100 as a stocking stuffer. There’s enough money to do it. Republicans would pass it. But, Democrats would lose their demonization tool. Sorry, can’t do that.

The next truth is that cutting taxes increases revenue. Not only does it increase revenue, but the percent that the evil rich pay actually goes up, not down. It is not, contrary to popular opinion, a cost. And certainly nothing that has to be borrowed, like Ms. Pelosi says. And it does not increase the debt. Cutting taxes is an incentive to produce. Cutting taxes leaves the money where it will be of most use. With the people who earned it. The Left quotes the CBO on tax cuts as being a cost. That’s because, by law, the CBO has to calculate everything as a static, zero sum game. They can not, by law, consider changes in behavior or consequences in the market place that a tax law or tax adjustment would cause. This is a fallacy in real life. They assume that by raising taxes by X percent, that they will actually get X percent more in revenue. And if taxes are cut by X percent, then the revenue will be decreased by X percent. Well, sorry Nancy. History and the laws of free-market economics tell a contradictory story.

Thomas Sowell writes . . .

Over that long span of time, there have been many sharp cuts in tax rates under Presidents Calvin Coolidge, John F. Kennedy, Ronald Reagan and George W. Bush. So we don’t need to argue in a vacuum. There is a track record.

What does that record say? It says, loud and clear, that cuts in tax rates do not mean cuts in tax revenues. In all four of these administrations, of both parties, so-called “tax cuts for the rich” led to increased tax revenues— with people earning high incomes paying not only a larger sum total of tax revenues, but even a higher proportion of all tax revenues.

But when confronted with this concept, President Obama acknowledged that yes, even though revenues increased, that it was more important ‘to him’ to go the wealth envy route in the name of social justice and fairness. So while Democrats claim to want to increase revenues, they really don’t.

So, where are all, or any, Republican leaders in Congress talking about this? Grow a pair and tell it like it is. Show the Democrats for the class warfare demagogues that they are. Preferring to keep people down rather than lift them up.

Link: Can Republicans Talk? |  Can Republicans Talk?: Part II